Michael Matthews September 22, 2011
Scholarly Focus Lecture- Steger and Economics
Neo-liberalism and the Dominant Institutions of our time
The origins of globalization:
Rise of the West
Ethnic problems and questions about the foundations of globalization
The Meanings of modern globalization:
The global imaginary (consciousness, belonging)
Definition of globalization: Contact, contested and contradictory
The concept of political economy.
Some say the understanding the political economy has to be seen through numbers and the scientific
What do you think of today’s economic system?
Economic globalization is the intensification and stretching of economic interrelations across the globe.
Failure of Keynesian Economics: “Control capitalism” no longer the way to go + The state should take a
backseat to the markets.
The markets have become the centre of buying and selling.
Neo-liberalism is the tool used to further the capitalist system. Remember the elections of Reagan,
Thatcher, and Mulroney? Market Rules, Freedom, Democracy, Neo-conservative ideas, Primary of
Economics. They believed in going back to the old system where they let the market lead the way. They
believed in economics over social issues. Mulroney was a big supporter of free trade. (Many social projects
got cut as a result).
How does neo-liberalism work? Privatization, der