GS101 Lecture Notes - Lecture 8: Structural Adjustment, Iron Curtain, Brian Mulroney
Document Summary
Gs 101 - a: lecture: tuesday, november 14th and thursday, november 16th: Lecture notes: neoliberal capitalism in the first world: National control of fiscal (taxation) and monetary (ex. High taxation on wealthy individuals and profitable corporations. Late 1970"s, early 1980s election of many governments in first world countries on neo-liberal platforms. Ronald reagan, us (triple down economics, decrease taxes on rich and corporations, allow them to invest and drive enterprise, than those profits will trickle down to everyday man) Neo-liberalism: an ideology based on ideas of classical liberal economists on laissez-faire capitalism. Ideology: a set of partial truths which mask hidden interests. Ideology of neoliberalism conceals hidden interests of business elites by making it appear to be a neutral economic system that benefits everyone, everywhere. Smaller role for governments, and larger role for markets to even out economic disparities. Assumption that private industry can better manage than bureaucratic governments. Soviet bloc (iron curtain) disintegrates, collapse of the second world.
