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LABRST 1C03 (126)
David Bush (12)

Feb 5th lecture.docx

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Labour Studies
David Bush

LABR ST 1C03 February 5 , 2013 The Rise of Neoliberalism The Great Depression: - A global economic downturn starting in 1929 lasting until the second world war - Increased labour militancy ushered in a whole host of social reforms in the 1930s and 40s - The adoption of Keynesian economic policies such as stimulating demand through short term deficits J.M Keynes Explained - British economist whose ideas begin to gain traction during the great depression - Believed the only way to save Capitalism was for governments to intervene during economic downturns and stimulate effective demands - The government should be creating the conditions for full employment by running deficit The Fordist System: - The marriage of a system of mass consumption and mass production - The transformation of work and workers - The bureaucratization of capitalism - The Treaty of Detroit and the Rand Formula The Golden Age of Capitalism: - Sustained record high profit rates in North America from the end of World War II to the beginning of the 1970s - Consumption and infrastructure (suburbanization) - Wages, benefits, profits and productivity increase - Union density increases dramatically The Contradictions of the Fordist System:
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