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Scholarly Focus Lecture-steger and economics.docx

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Global Studies
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Bina Mehta

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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 method.  What do you think of today’s economic system?  Capitalism?  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
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