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POL101 Lecture #7 W

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Political Science

022712POL101 Lecture 7 W Seeing InequalityWong The distributed consequences of growth who gets what and whySeeing inequalitytwo ways 1 Bearing witnessyou have to see the realities with your own eyes empowers both the victim and the researcher something that is profoundly impactful2 Counting inequalityhow we count impacts on the way we see the world perspective 1day versus 2day there is a whole different Raising the threshold changes the whole perspective 20x of Canada live on 2day equalling to 2x of the United StatesWhither the Bottom BillionLass tan 125day 1988 2008 Middle income countries121000000 957000000 7 72Low income countires 1500000000 370000000 93 28Poverty therefore is a reflection of inequalityFour Vignettes 4 cases of inequality1 Global inequality2 The workwelfare state3 Gendering social protection4 Local solutionsGlobal inequality Keynesian Compromise and Embedded Liberalism The need to eliminate mercantilismDomestic instability contributes to war makingBretton Woods the creation of the world bank IMF the system of exchange rate management the implementation of tariffs way of bridging trade among countries the insulation of democracy regional institutional building intended to build trustGATTGolden Age of Global Growth1950s to 1960s 19501960 42 to 1960197053growth annualGolden Age General slowdown in the growth rates and it was not shared equally among regions SouthSE Asia 21 in 1990s growthyear Rich countries were becoming richer and the poor countries were becoming poorer1970s and 1980s Globalizationthe breakdown of the Keynesian Compromise and the Embedded Liberalism US 1970s no longer wanted to bank roll its economyKey role of the Bretton Woods not allowing the exchange rate fluctuate Foreign exchange rate dollar1998 2 trillion dollars made on foreign exchange trade Technological change era of mechanization 1970s Surplus labourpoor labour A neoliberal resurgence implemented rules on the poor countries privatize your economy make cheap labouretcBad government policy Does not engage in ID not implementing education
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