SOC236H5 Lecture Notes - Lecture 5: Usury, Offshoring, Neocolonialism
Document Summary
Soc236 week 5 critical political economy: washington consensus: global economic multilateral organizations in recent decades pursued this. To deregulate markets, privatize public enterprises, promote maximum shareholder value, cut taxes and public spending, open national economies to cross border trade and investment, lessen state regulations. Policies have benefitted financiers at the cost of the working class, and the global south. Mainline economists and policy makers continue to assert the virtues of such an approach, since 2008, increasingly questioned: globalization rethought: buzzword. Repackaging idea of the european concept of bringing democracy and civilizing the south (colonization). Previously done through force, but globalization does it through indirect social controls (hard power vs soft power), perceived will: questioning globalization: pro globalization agenda written by winners of globalization. Global economy is not problem with the poor, but problem with the rich. Inequality: core periphery relations: world economy is a hierarchy. The north set the rules for the rest of the world.
