PLAN300 Lecture 7: PLAN 300 - Week 07
9 Dec 2017
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Document Summary
What is neoliberalism: economic and political ideology supporting free markets/free movement of capital, neoliberals emerged in late 20th century (1980s+, margaret thatcher, ronald reagan. New" liberalism: classical liberalism (18th & 19th c adam smith, thomas paine, government as a necessary evil (common sense, 1776, populations entitled to liberty and freedom (from other but also from state control/intervention) Intertwined with rapid globalization: rise of (few) multinational corporations, free flowing capital across borders. International monetary fund: grants to developing countries with conditions, deregulate markets, privatize state services, reduce corporate taxes, open labour to developed countries, rich get richer; poor get poorer (due to corporations) Profit over people : the belief that economic benefit is the sole determinant of human progress , competition as human condition, we have to compete in business, capitalism (exploitation) as the ruling relation. Shadow state: welfare state, government is primarily responsible for economic and social well-being and service provision, social insurance programs, universal health care coverage.
