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LABRST 1C03 (126)
David Bush (12)
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Feb 7th lecture.docx

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Department
Labour Studies
Course
LABRST 1C03
Professor
David Bush
Semester
Winter

Description
LABR ST 1C03 February 7 , 2013 Neoliberalism and Flexible Labour **Key terms= Neoliberalism, Offshoring, Lean Production, Just in Time (JIT) delivery, Quality Circles, Flexible Labour The Origins of Neoliberalism The political crisis of the 1970s: - The growth of labour militancy - The radicalization of the student movement - The rising feminist movement - The growth black power movement and other similar movements in oppressed communities - Global social upheaval (challenge to western land Imperialism) The economic crisis of the 1970s: - Rising Inflation - Falling profits (overproduction) - Oil shocks, real estate crash - Monetary instability Crisis of Democracy - Neoliberal Policies: Deregulate markets and free constraints upon businesses (deregulation of state controls upon tucking, banking, airline industry, etc. and the cutting of taxes upon the wealthy) - Create conditions for the freer movement of capital (free trade) - Sell off profitable assets to private businesses - Cut back spending on social programs - Drive down wages and suppress the power of organized labour * Supply Side Economics = Trickle down theory The Volcker Shock - Beginning in 1979 the chairman of the US Federal Reserve raises interest rates - This causes a recession, the unemployment rate spikes, third world debt balloons The Restructuring of the Economy - The growth of the financial sector (FIRE) - The share holder revolution - The shifting of production geographically (offshoring) - The use of new technology - The rise of lean production (flexible labour) The Financial Sector: Both the volume and the profits in the financial sector increase (Also insurance and real estate hence FIRE) LABR ST 1C03
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