GLOBALZN 1A03 Lecture Notes - Lecture 5: Economic Liberalism, Economic Integration, Debt Relief
17 Oct 2018
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Document Summary
Have the least amount of intervention possible in the economy. Markets are fair and most efficient resource allocators free trade low gov"t spending let the market do what it wants. Thesis: a worldwide free marketplace is a blueprint for a global order of peace and prosperity for all. Market capitalism is highest stage of human development. All societies moving in this direction - end of history . No one is in charge of globalization. Higher living standard - rising tides lifts all boats . Fuels economic growth = job and wealth creation. By year 2000 these claims had become common sense. Saying so -depoliticized it - harder to contest. Increased income inequality (within and between countries) Eg china, singapore, russia - democracy does not equal voting. Lw social justice, rw populists, religious fundamentalist. Not anti-globalization - want a different kind of globalization. Current trends benefit powerful and harm marginalized.
