HST 296 Chapter Notes - Chapter 13: Latin American Debt Crisis, New Social Movements, Monetarism
Document Summary
The collapse of the ussr in the 1980s usually distracts people form the problems the west faced earlier in the century. The west faced many economic crises and the usa went into large amounts of debt. The 1980s saw developed countries focus a lot more on private enterprise, neoliberal new right. Also focused on defense spending and eared the burden of the welfare state. Developed countries were rejecting keynesianism for monetarism/laissez faire. Assault on keynesians led by reagan and thatcher. Reagan and thatcher both cut income tax and had distinct styles of leadership. The failure of french socialist government strengthened their case. Thatcher sued victory in the falklands as a morale booster and used the national mood to her benefit. The shift to monetarism did not help the usaa and great britain and both countries quietly reverted back to keynesians. Turned the usa from the greatest creditor nation to the greatest debtor.
