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Lecture 5

GS101 Week 5.docx

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Global Studies
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Timothy Clark

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Global Studies Week 5, lecture 2 Reading Tips for Quiz/Mid-term  Steger: Bretton Woods order and collapse (construction, debates, conflict)  Principles and Rise of Neoliberalism  Internationalization of Trade and Finance (what is it, what is the significance)  International Financial Institutions (what main ones are, what their original purpose was, and actual now)  Origins of Nation-State System  Hyperglobalists vs. Global Skeptics (arguments, examples from lectures)  Market vs. Justice Globalism  SLIDES=LOOK AT THE BIGGER PICTURE, USE EXAMPLES FROM CLASS  Orend: Drivers of Growth and GDP (drivers for economy)  Trade Policies  Ideologies of the State (what different ideologies are, role, and debates) What is Ideology?  Ideology and Reality resistance to reality and facts makes something ideological Market Globalism Claim 1: Globalization is about the liberalization and global integration of markets o Counter claims: liberalization and integration of global markets relies upon state power to implement and enforce policies o Deregulation or Regulation? 2008 financial disaster in deregulated market everyone would be bankrupt but regulated bc government were able to come in and bail them out. The market knew if they made a bad ‘bet’ and lost money government would bail them out. o Represents an attempt to define ‘globalization’ and the subsequent terms of the debate, trying to make it a ‘natural, neutral process’ Claim 2: Globalization is inevitable and irreversible th o Counter claims: process began in 19 century then reversed, globalization can advance but you can have deglobalization o The uneven history of globalization (Roman empire expanded then collapsed, Europe was very advanced then turned backwards) o Depoliticizing globalization  tries to make globalization something that is necessary, claim is made in interest of people advancing globalization Claim 3: Nobody is in Charge of Globalization o Nobody is monitoring globalization because it will happen either way o Choices made effects growth and shape of countries o Bretton Woods gives example of how U.S.A. tried to control globalization o Investors have a large control in globalization/ the markets o U.S. Power and Globalization: Bretton Woods, Military Power o The Reification of the ‘Market’: bombarded with references to the market, define market. Reification: treating a object/thing, treating it like a person ‘an actor’. Market is the U.S.A., powerful financial industries. Personification of the market Claim 4: Globalization Benefits Everyone! o Emphasis should be that EVERYONE is doing better, not just poor o Counter claims: Asia versus the world—poverty is mostly in Asia, Asian inequality not everyone is benefiting 1980’s China was equal for rate of income to very unequal only a few have become very rich and most relations to communism o The rise of the working poor: slower growth, inequality rising in Canada 25% of Canadian workers earn $10/hour or less, 35% of Canadian jobs are part-time, temps, contract, or self-employed Effects of Neoliberali
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