POLS 2950 Lecture Notes - Lecture 16: United States House Committee On Oversight And Government Reform, Bourgeoisie, Deindustrialization
3 Feb 2017
School
Department
Course
Professor
Document Summary
Followed by radical leftist governments - moving away from capitalist framework after realization that they had moved into semi-periphery rather than the core - need to move to socialist model and improve levels of human development. Legacy of foreign debt, hyperin ation, scal economic problems. 1980s forward - international community steps in and implements washington consensus neoliberal policies. Imf - key donors are us, therefore us plays key role in its policies. 1982 - debt crisis in mexico - black september of 1982 - spreads crisis throughout latin. America - unable to service their foreign debts. Mexico defaulted on its debt - no money to service it. 1981 - world was moving towards a recession after oil crises. Imf steps in and provides loans to desperate countries, with conditions attached. Policies predicated on the diagnosis that these countries have too large of a state. Need to privatize as many public-owned companies as possible.
