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Lecture

Seeing Inequality.docx

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Department
Political Science
Course
POL101Y1
Professor
Joseph Wong
Semester
Winter

Description
Political Science Monday, Feburary, 27, 2012 Seeing Inequality (Wong) Before-Economic growth=aggraded data Today-Look at the distributive consequences of economic development Economists look at data, Two ways that we can see in equality -Bearing witness=have to see the reality of bad things in person (seen things that profoundly impact) Abundance of independency is not good for peace They are very poor people in countries -Counting inequality= (not objective) Perspective in how a person counts inequality The World Bank states that a person is poor if they live a dollar a day. However if we raise to two dollars a day=600 million people in China We have reduce the number living on a $1 day, the vast majority of people in the bottom billion live in middle income countries To eradicate poverty we need to redistribute. Poverty=Inequality Four cases of inequality -global inequality -The work and welfare state -Gendering social protection -Local solutions Global Inequality -Keynesian Compromise and Embedded Liberalism=new set of ideas that the world could be governed on. -Bretton Wood=World Bank =IMF(monetary funds) -GATT-multi-lateral reduction of tariffs -European reconstruction=build trust =creating interdependent Rapid economic growth after wars-golden age of global economic growth After the golden age (does not last)- economic growth globally does not grow globally Distributive consequences of aggraded growth show inequality between rich countries and poor countries 1970s and 1980s -Globalization US decides not to bankroll global economy (helps countries by bailing out, American dollar supports other currency. Foreign Exchange Trading Globalization of cash, capital=massive debt crisis of banks Poor counties get exploited -Technological change=surplus labour is poor labour No country makes a car, different counties get different parts, the rich stay rich, poor stay poor -A neo liberal resurgence No cheating measures in the era of globalizationPolitical Science Monday, Feburary, 27, 2012 -Bad government policy example : did not invest in education In terms of relative gap, rich countries are getting richer, poorer countries are getting poorer even middle countries are getting poor as well Domestic Re-distribution As poor countries grow=growth of inequality Rich countries=decrease inequality The Welfare State As countries grew, invested instead of military to education,health,unemployment The political economy of the welfare state -industrial capitalism-industry in industrial is important -Unionization of labor-work
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