GS101 Lecture Notes - Lecture 3: General Agreement On Tariffs And Trade, Suharto, Libor
Document Summary
Economic globalization: steger"s definition: economic globalization refers to the intensification and stretching of economic connections across the globe. Bretton woods (1944 and following: imf, wb (formerly ibrd) Set policy in financial value of currencies and how certain currencies may need to be supported by others. Have a lot of power, can dictate regulation. Changed the name because the purpose changed, and reconstruction was no longer needed. Providing funds and loans to nations that needed it to develop: gatt (now wto) What is neoliberalism: 10 points in steger. Monetarist measure to keep inflation at check even at the risk of raising unemployment. Interest rates raising interest rates keeps a check on inflation and causes unemployment. People are left out of employment to keep inflation low. Question: did anyone really get rich on their own: morality and ethics, saga of the glasgow taxi driver. Why is income inequality bad: undermines democracy (rich have greater control over political.
