ECO 2121 Lecture Notes - Lecture 1: Collective Action, Late Modernity, Middle Ages
20 Dec 2017
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Document Summary
Globalization: the process of international integration of local cultures, markets and political entities. Economic globalization: the emergence of an international market or of an international network of local markets. Contributing factors: technological: faster and cheaper transportation and communication. Ideological and cultural: the hegemonic position of neoliberalism, postmodern skepticism towards national narratives. International organizations un, wto: supranational institutions: eu. Improves standards of living, in developing and emerging countries. Reduced world inequality gini coefficient of the world economy improved. Economic globalization leads to higher cultural and political integration. Anti-capitalist: against the expansion of markets, commodification. Anti-cultural integration: against cultural imperialism assimilationist, misappropriation, against corrosive influence of neoliberal individualism. Environmental argument: continuous economic growth and market expansion is not environmentally sustainable. Methodological individualism individuals have agency qua individuals. General equilibrium markets tend to reach a steady state. Explains social phenomena through the lens of individual motivations and actions. Weberian sociology interpretative explanations, theory of ideal types, rationality.
