GS101 Lecture Notes - Lecture 13: Media Culture, Three Worlds Theory, Iron Curtain
Document Summary
Gs101 - lecture 13 - neo-liberal capitalism in the first world. National control of fiscal (taxation) and monetary (ex interest rates) policies. High taxation on wealthy individuals and profitable corporations. Late 1970"s, early 1980"s election of many governments in first world countries on neoliberal platforms. Neo-liberalism: an ideology based on ideas of classical liberal economists on laissez- faire capitalism. Margaret thatcher: society does not exist - there are only individuals, and each is responsible for themselves. Ideology: a set of particular truths which cover up or mask hidden interests. Ideology of neoliberalism conceals hidden interests of business elites by making it appear to be a neutral economic system that benefits everyone, everywhere. Calls for a new global economic order based on freer markets, precipitated by: Relative decline of us economy and floating currency rates pegged to the us dollar. American economy still growing but not growing as quickly as before.
