SOCIOL 1A06 Lecture Notes - Lecture 11: Subprime Mortgage Crisis, International Monetary Fund, World Trade Organization
15 Apr 2016
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Document Summary
Globalization is good because it spreads what is good in america, such as a liberal approach to business, and mcdonald"s. Globalization is bad because it spreads what is worst about america, such as a liberal approach to business, and. Application of neoliberal economic policies to less developed countries. The increasing political and economic interconnectedness of nations. Economic interconnectedness (cid:0) world trade organization (wto) (cid:0) international monetary fund (imf) (cid:0) world bank. Top-down globalization (cid:0) capitalism (overcapacity, taxes, global commodity chains, cultural imperialism) (cid:0) financial capital (casino capitalism) (cid:0) neo-liberal economic policy (cid:0) critique of neo-liberal economics: subprime mortgage crisis in us sets off global recession. Corporate taxation and global inequality (cid:0) richest 1% will own more than half the world"s wealth by next year: (cid:0) global inequality linked to declining corporate taxation. The under regulation of financial institutions - which is consistent w/ neo-liberal economic policy is what led to the crisis.
