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Lecture 5

IDSA01H3 Lecture Notes - Lecture 5: Degrowth

International Development Studies
Course Code
Leslie Chan

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IDSA01 Lecture Week 5: Notes
o Relentless pursuit for growth that’s ruining our world, and is getting us into a lot of trouble
o The idea of ‘degrowth’ – alternative forms of production, to stop getting stuck in the cycle of
constant production
o We need to rethink how we put people in the center of development
o Development is freedom
o Increasingly there are a mix of celebrities, politicians and activists and many types of individuals
who are begging to have key roles in development, when before (around 30 years ago) it was
mainly NGO’s, or companies that would get involved in development projects.
o How does development change with geopolitical forces for example; 20 years ago, China
would not be considered a ‘#1’ country but today it has the second largest GDP, a strong military
best etc.
o Key Players in development (examples): Unites Nations, Bill and Melinda Gates Foundation,
USA, Canada (individual governments), the World Bank, and NGO’s
o ‘philanthrocapilatilsm”
o WHO defines health as not just absences of diseases but the overall health, mental and physical
of a person.
o Canada has many more bilateral relationships than with just the US also with many developing
o Canada is part of the UN and gives funds to the World Bank
o In the 1970’s, with the massive discovery of oil, you could see finances were booming, and
interest rates were so low then in the 80’s when the oil market was running extremely low the
interest rates boomed back up extremely high again
o The fluctuation of the oil boom not only affected individuals, but countries as a whole.
o Because of the oil boom and low interest rates, countries were encouraged to borrow (to build,
industrialize and modernize) but when the money was being borrowed it was not being
channeled to the proper individuals because improperly run governments (when corruption was
starting to begin) and countries now had massive debts when entering the credit crisis of the
80’s, so the World Bank and the IMF said they’d help these countries get out of their debt at a
lower rate.
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