HIST 3057 Lecture Notes - Lecture 27: Helsinki Accords, Cash Flow, Deindustrialization

• School: University of Georgia
• Department: History
• Course: HIST 3057
• Professor: Shane Hamilton

Document Summary

For presenting this image of most of wealth is going to elite few. American economy flourished and benefited the broadest range of american citizens during period in us history when federal government was most active in intervening in economy . New gilded age - presenting image of growth and progress and industrialization where most of the wealth is going to elite few -issue of financialization. 1991: manufacturing and financial services accounted for same gdp - 2003, profits financial sector accounted for 1. 5 times as much than manufacturing. One crucial reason: deindustrialization, reconceptualization of what the american corporation is for. Overall decline of importance of manufacturing in american economy. % of work force in manufacturing has declined. His book concept of corporation: widespread understanding that american corporations should only be counted as successful if they provided jobs, and invest in their communities and nation.