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University of Toronto St. George
Political Science
Jeffrey Kopstein

Political Science February 28 , 2011. Seeing Inequality Reading: Birdsall, Life is Unfair - Inequality in the World, pp.76-93 Bermeo, Does Electoral Democracy Boost Economic Equality, pp.21-35 Bearing witness Seeing inequality in data, poorer countries growing at 1 or 2% per year $1day versus $2day Four Vignettes 4 Cases: Global inequality why rich countries getting richer, poorer countries getting poorer The work & welfare state Gendering social protection Local solutions (I) Global Inequality Keynesian Compromise and Embedded Liberalism Bretton Woods - Created in post war era - Under him created IMF - Fixed exchange rates - American back system, U.S. dollar would be currency of global economy GATT - Multilateral agreement by all countries to gradually reduce tariffs in order to create freer economic trade system European Reconstruction - Installation of democracy in Germany - Creation of EU - Martial plan foreign aid plan backed by U.S. to help reconstruct Europes economy 1960s 1970s significant growth in East Asia, Middle east, Europe However even in Golden Age, it was uneven growth 1980s90s rapid, negative growth in East Asia 1970s and 1980s Decline of Keynesianism Compromise OPEC price spikes - Breakdown of Bretton Woods - Beginning 1970s American did not want to back global economy anymore; puts a lot of pressure on US dollarAmerican treasury
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