SOCIOL 1A06 Lecture Notes - Lecture 7: Free-Trade Zone, Primitive Accumulation Of Capital, World Trade Organization
20 Apr 2016
School
Department
Course
Professor
Document Summary
Free market capitalism colonial / post-colonial time period. 1500s - 1950s extensive expansion core-periphery inequalities emerge world economy formation of small-capitalist class in the south. State intervenes only on behalf of the capitalist class, protecting national capitalists in competition with foreign capitalists. 1980 - present the global economy is the material basis for globalization it takes the form of (global) capitalism or neoliberalism. From a world economy to a global economy. World economy national economies are linked to one another through trade and finances in an integrated international market; collection of national economies. Ex. labour or financial deregulation austerity entails the drastic reduction or elimination of budget expenditures for social programs and services. Impacts of neoliberal restructuring foreign investment in mining and agroindustries leading to land dispossession. South dependent on the north for food and technology- intensive commodities. Creation of export processing zones = off-shore assembly = maquilas = free. Race to the bottom for low-cost labour privatization deregulation austerity.
