DEVS 230 Lecture Notes - Lecture 3: Floating Exchange Rate, Boiling Water Reactor, Social Safety Net
4 Dec 2017
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*explain the causes and solutions to the 1982 debt crisis : bwr and background to debt crisis (long build up, regime. When national economy crisis there is national politics crisis and leads to international politics problems. The first drop was mexico not being able to pay interest or anything else. Bwr: us major authority, need consensus to have regime, bretton woods-. Importing more than exporting trade deficit- country isn"t making enough money. International regime in crisis: crisis is a time of intense social, political and economic conflict, fordism to neoclassicalism - change of knowledge, bretton woods questions, no predictability or stability-floating exchange rate, power is transformed. Us national economy causes: fordism, 1970s japan and germany car industry starts increasing. People stop buying ford cars: us starts a trade deficit. Keynesianism- government spends not cutting(great depression cut founding: people start speculating, 1976 first bail-out was the uk, legitimacy of keynesianism failing.
