SOCIOL 1A06 Lecture Notes - Lecture 98: Barry W. Lynn, International Monetary Fund, Digital Currency
20 Jan 2017
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Missed first 5 mins of lecture, look at podcast. For globalization (top down): globalization is good b/c it spreads what is good in america, such as a li(cid:271)eral approa(cid:272)h to (cid:271)usiness, and m(cid:272)donald"s. Anti-globalization movement (bottom up): globalization is bad b/c it spreads what is good in. America, such as a liberal approach to business, and m(cid:272)donald"s. Shrinking of the world: capital, wealth, products world becoming smaller, more interconnected. Countries are interconnected politically, economically world trade organization, international. Travel and migration: air travel, tech that allows messages and info to travel, electronic money markets. Companies in multiple industries w/ great power. Capitalism (overcapacity more products made than people are able to buy , taxes, global commodity chains, cultural imperialism) Critique of neo-liberal economics: subprime mortgage crisis in us sets off global recession. Housing values declined, interest rates increased leading to an increase in mortgage delinquencies and foreclosures. Subprime mortgages were held as securities for many financial firms.
