Political Science 1020E Lecture Notes - Lecture 10: Varieties Of Capitalism, Global Exchange, State Capitalism
27 Feb 2015
School
Department
Course
Professor
Document Summary
Liberal or enterprise capitalism economic system based on reliance of market: small market laissez-faire, keep state out of way aside from minimal necessities (infrastructure, military, etc. ) Japan leading model, china reinventing the model: different ways china uses state to influence the market. Intensification of transnational flows goods, services, labour and capital: challenges economic sovereignty, the ability of states to manage their national markets. Cultural globalization: diffusion of information, ideas, and images via improved communication technology, national cultures losing distinctiveness, decline in distinctiveness of national cultures world becoming flat". Is it new this time: globalization gradually re-emerged in 1950s and 1960s, trade liberalization implementing free trade between countries, financial integration increasing flows of capital between countries (80s and. 90s: us leadership of free world underwrites globalization. Us creates the institutions to support a liberal, global economy; as well as liberalization of trade. Financed the liberalization of liberal global economy: soviet union collapse opens up the east.
