HISB51H3 Lecture Notes - Lecture 7: Structural Adjustment, Neoliberalism
Document Summary
1965 73 industrial expansion: mining, manufacturing, 1950 75, per capita gnp growing, major improvements in health and education, 1973 1976 = the oil price peak, rising food prices, poverty based approach, international lending, poor countries indebted, late 1970s, tightened monetary policy, interests rates rose, debt crisis, countries begin defaulting, structural adjustment (saps, privatization, austerity. Big cuts (primary health care: lift trade barriers, currency devaluation, neoliberalism, strings attached, 1994 w african franc devalued by 50, cut standard of living in half, industrialization > urbanization > modernization o. Teleology movement towards a known end point, modernization: zambia as anti teleological place, 1974 1994 per capita income per more than 50, 1969 higher per capita gdp than, brazil, turkey, south korea. Zambian decline: factors, decline of buying power of copper, external debt > 1995 debt servicing took 41 cents of every dollar earned by exports, structural adjustment, aids, 1945 50% of urbanities are poor.
