SOCIOL 120 Lecture Notes - Lecture 11: Keynesian Economics, Government Spending, Economic Stagnation
Document Summary
Explain how neoliberalism went from academic idea to the dominant idea of american politics. Relationship of the state to the economy? (economic or political factors that helped create neoliberalism) Welfare state to stress of being on your own (individualized) Manufacturing business gathers a huge number of workers as center of organized unions. High inflation (prices go up faster than purchasing power) Government spending more money but not raising taxes. Lbj - creates giant social programs (war on poverty) and vietnam war but did not raise taxes. Gold standard ends in 1971 (no govt coud back us dollar anymore with gold) Why did opposition not have enough power to fight. Minorities, women, and workers incredibly divided by different goals. All wanted govt to spend more money and higher taxes on the rich. Workers mvmt strongly white (problems accepting affirm action) Get entire white working class of south to vote for conservative ideas.
