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Lecture

Seeing Inequality

7 pages72 viewsWinter 2011

Department
Political Science
Course Code
POL101Y1
Professor
Jeffrey Kopstein

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POL101- February 28th
Seeing Inequality
- distributive consequences of growth
- seeing inequality in the data
- b/w 1990's- 2000's; % of canadians living under the poverty line it decreased by 50%
- 10% = 3 million canadians, by disaggregating the data differently we see different
stories
- the wage gap between immigrant fmailies and non immmigrant families it is actually growing
-
- Bearing witness
- Counting inequality
- 1$/day versus 2$/day
- the bare minum you need to survive- global poverty line
- according to this 1$/day china's economic growth has lfited 100$ millions out of poverty
- when it is only 2$/day 45% of china's popualtion lives with less than 2$/day
- 45% of chinese people = 600 million poeple
- 4 CASES:
- Global Inequality
- The "work & welfare" state
- Gendering social protection
- Local solutions
(I)GLOBAL INEQUALITY
- Keynesian Compromise and Embedded Liberalism
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- embedded system= liberal free trading economic system, gov'ts have some latitude to
create state policies to stabilize their economy
- Bretton Woods: establishment of the IMF, Fixed exchange rate system, American backed
system
- GATT: general agreement on trade and tarrifs- gradualr eduction of tarrifs to create a freer
international trading system
- European Reconstruction: instalation of germany, EU
-Golden Age of Global Growtg- 1950's to 1960's
- World GDP- most rapid economic growth was in the immediate post-war period
- After the golden age: the growth was actually uneven, some areas of the world were growing
much slower than others
- We begin to see negative growth; in South Asia, Africa, and Latin America
1970's- 1980's
- Decline of the Keynesian Compromise
- OPEC price strikes: energy crisis, prices rise, accute for countries which were already poor
- Breakdown of Bretton Woods: US does not want to support the entire Global economy,
Americans pull back & exchange rates were allowed to fluctuate again
- Globalization: money circulated in the global economy; 1983 amount of money in the central
banks of governments was 3x greater than the amount of money traded globally
- 1998; central banks controlled 1/4 of all the money in the world- 2tillion$ circulating
everday
- Debt crises: Mexico, Argentina, Korea, Taiwan- all experienced massive debt crises which set
their eocnomies bac 10/15 years
- suggested SAP's
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