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Lecture 6

CMNS 240 Lecture Notes - Lecture 6: The Shock Doctrine, Post-Fordism, Neoliberalism


Department
Communication
Course Code
CMNS 240
Professor
Enda Brophy
Lecture
6

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CMNS 240 LECTURE # 6 18.02.16
Recap: Post-Fordism characterized by flexible labour, immaterial commodities, niche marketing
and consumption and networked, flexible production
KEYNESIAN AND NEOLIBERAL MODELS OF POLITICAL-ECONOMIC GOVERNANCE
- NL as a «mode of regulation» of post-fordism. It has become a kind of «common sense»
understanding of the relationship between politics and the economy.
- Neoliberalism is the result of a debate about the role of government in running an economy - and
about what role market priorities, institutions and values should have in society at large.
«Neoliberalism is in the first instance a theory of political economic practices that propose that
human well-being can best be advanced by liberating individual entrepreneurial freedoms within an
institutional framework characterized by strong private property rights, free markets and free trade»
- David Harvey
TWO POLITICAL-ECONOMIC VISIONS: HAYEK AND KEYNES
For Keynes, the state or government should have a strong role in planning the economy, but for
Hayek, market forces should be left alone.
Historical context for the debate was after the Great Depression of the early 1930s, and the
economic devastation in Europe at the end of the Second World War in 1945
Tetcherism
Screening: The Shock Doctrine
Klein argues that in order to implement this model, governments needed to exploit crisis, enact
wars or coups and act on the public’s disorientation
THE CRISIS OF FORDISM
Corporate profits shrinking
Labour strikes were growing more frequent
Inflation was growing
Government bills on welfare are rising
The neoliberal turn
Hayek and Friedman are ready to advise governments:
-to sell public industries off to the private sector
-to cut back spending on social programs
-to open up markets to international trade and global competition
-to curb the power of unions
-to eat away at the collectivist idea of social solidarity. Start talking about :self-interest» and the
individual
-to have less tolerance on public debt
Key features of neoliberalism:
1. An ideological framework: NL attaches positive connotations to market priorities, forces and
institutions
2. Individual freedom can be only maintained when there’s no governmental intrusion
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