HIST 106 Lecture Notes - Deindustrialization, Stagflation, Blue-Collar Worker
28 Mar 2014
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Lecture 22: the post-industrial west (reading: chapter 30, pp. Lecture 22 the post-industrial west: there were new economic realities in the global context of post industrialization, manufacturing is no longer a sure route to jobs and wealth, money now is in services, communications, media, entertainment. In de-industrializing societies, entertainment becomes paramount: unskilled people can no longer get jobs, and a permanent lower class develops, minorities are marginalized, unskilled people become the trouble makers. The main factors in a post-industrialist west: oil crisis, globalization, de-industrialization. The new question is how to keep welfare states intact when super growth has halted. [1] why did western europe face new economic strains by and after 1973: dependency on oil as a new energy source. In the 1980"s real purchasing power goes down for the first time since world war. Keynes is discredited spending to stimulate the economy is not working. Other traditional methods are not working as well.
