GLOBALZN 1A03 Lecture Notes - Lecture 3: Economic Nationalism, Autarky, Economic Integration

• School: McMaster University
• Department: Globalization
• Course: GLOBALZN 1A03
• Professor: Liam Stockdale

Document Summary

Rooted in ideology of neoliberalism: economically, laissez faire, Economic deregulation, free trade, low government spending. Markets are fairest and most efficient resource allocators. Thesis: a worldwide free marketplace is blueprint for a global order of peace and prosperity for all. Two core claims: globalization is inevitable (ontological claim, globalization benefits everyone (normatic claim, globalization is inevitable. Market capitalism is highest stage of human development. All societies moving in this direction -- (cid:862)e(cid:374)d of history? (cid:863) It is beyond human capacity to reverse this. No o(cid:374)e is (cid:862)i(cid:374) (cid:272)harge(cid:863) of glo(cid:271)alizatio(cid:374) Market forces and technological innovation all for this to happen with no one directing it. Fuels economic growth = job and wealth creation. Higher living standard -- (cid:862)risi(cid:374)g tide lifts all (cid:271)oats(cid:863) By the year 2000 these claims had become common sense: but mostly due to power of those making them (elites) Saying so de-politicizes it - harder to contest. E. g china, singapore, russia -- democracy does not allow voting.