Politics nov 14 lecture notes
The world is becoming a much smaller place and much more interconnected, and make it much more
difficult for regions in the world to separate themselves from global affairs
Housing bubble in us – prices increasing and banks giving loans, and Americans having falling incomes.
Only lasts as long as influx of money continues. In 2008 banks got in trouble, and loans were based on
prices of houses. No one could buy the houses anymore cuz ppl could not get loans anymore, so ya,
banks got fucked. Nobody knew who owned what any longer, and housing bubble burst. American
banks are active throughout the world, so it spread to other parts of the world that brought a global
We are increasingly becoming aware of affairs all over the world.
Globalization as a phenomenon has changed the