POLI 1P93 Lecture Notes - Lecture 9: Gross Domestic Product, Homo Economicus, Keynesian Economics
18 Sep 2016
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Poli 1p93 lecture october 9 th , 2015. A focus on goods and services distributed through the laws of supply and demand. Assumes people have preferences (things they want) Market is made up of rational individuals. Chicken or the egg globalization and neo-liberalism. After keynesian economics abandoned- focus turned to global restructuring. Suggested international pressures required down size of state capital/multinational corps had outgrown the nation state. Globalization hypothesis openness of economics eroded national autonomy capital mobility diminished policy options only option residual welfare state competitive austerity. However no evidence to support no reason governments had to downsize only pursued as rationale by neoliberals. Globalization is a response to neo-liberalism at the national level. Reduced or removed impediments to market forces. Primary action of neoliberalism leads to other priorities cutting taxes, shrinking government, balancing budget, etc. Leads to a smaller role of the state in crucial, and expensive, areas.
