SOC 2151 Lecture Notes - Lecture 6: Meritocracy, Financial Services, Portfolio Investment

• School: University of Ottawa
• Department: Sociology
• Course: SOC 2151
• Professor: Aline A Coutinho

Document Summary

1/30/17 (6) the global economy and financial globalization (pt. 2) Global trade: reduction of trade barriers. Monetary order: provide security and flexibility, us dollar could not change its par value. Global investment: expansion of mncs, increase of fdis. Changing some governmental facets: garbage can theory: when massive institutions lose their primary functions, instead of dismantling these institutions, they gain a new role (imfs new goal was loaning to developing countries), major criticisms include: Neoliberal policies (neoliberalization, free trade) applied unquestioningly. Structural adjustments inappropriate circumstances of individual countries not considered. World bank: original remit of infrastructure programs expanded to all areas of economic development, suppose to be non-political but boundaries blur, an important force globally as it is: Forum or global discussions on development and finance. Source of development information, advice, support: the majority of loans are given to middle-high income countries instead of poor- income countries (pics).