POL208Y1 Lecture Notes - Invisible Hand, Realis Mood, Deficit Spending

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12 Feb 2011
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January 18: financial meltdown 2008, reminder of globalized world, planet finance larger than planet earth, every day roughly 3 trill. The crisis demonstrated the economic policies of the state may be dwarfed compared to world etc: 2. Started to gather in streets of amsterdam to trade; city decided to build a stock market so ppl. Could trade: dutch banks started to accept shares as guarantees for loans, shares could be purchases with credit, ^ is start of modern capitalistic economy, capitalism/stock market very intertwined with state power, devep. Like him: imf has since lent money to many countries to encourage financial stability, 2. They also created world bank--about helping private investments: 1944-the main target was europe, very rapidly it expanded to affect other countries, mission is to assist development in developing countries, 3. Economic order: behind that claim was assessment that the world economy was structurally fixed against devel.

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