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Lecture 4

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ANTH 1120
David Murray

ANTH1120Lecture 4Madagascarown independent country beforewhen Queens and Kings broke a trade agreement with the FrenchoFrench govt sent armies and made Madagascar into a colonyoSet up plantations in Madagascar and started the slave tradeWhen Madagascar became independent it was underdeveloped and economically weakBorrowed money from IMF and had problems paying off the loanThe country went bankrupt in 1982Things got so bad that IMF and world bank refused to help them with new loans or new financingoTried to build industries oNone of this helped the poor people in MadagascaroThe levels of poverty remained the same2005 the IMF agreed to forgive or write off a huge part of their debtothe huge chuck 200 million the US has a public deficit of 17 trillion9 years later Madagascar is still one of the 10 most poor countries in the worldMarketseconomic globalization transnational connection between system through which goods and services are distributedoin our world it happens through marketsIndustrial Revolution the idea that markets best work p their own with supply and demand rather than government control was first fully explored at the industrial revolutionPolanyi The idea that the experiment that makes markets work without governments interferenceoThere is a tension between markets that allow businesses to compete to operate in an unregulated way to make the most money possibleoThe govt places rules and regulations on businessMinimum wagePay taxes to support healthcareRegulated market is a way of talking about government involvementMarket Drivenrdothe 3 major chemical spill resulted in contaiminated water lack of laws regulating these chemicalseg of how govts do not interfere with businessStatedriven systemoIn a Soveit union government ran everythingoThe government ran everthing centeralized systemoEach house had a furnace to generate its own heat govt would produce heat using one enormous furnace and hten send heat out it didnt cost anything
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