SOSC 1430 Lecture Notes - Lecture 15: Keynesian Economics, Neoliberalism, Commodification
10 Oct 2014
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Freedom to own property engage in market transactions. Two: invest in social welfare education, health-care, pensions. State regulation: tu rights, right to strike and collective bargaining, working conditions, wage policy. Five: high taxes on the rich &corporate profits. Situations where state has major responsibility for welfare provision via services and benefits to meet people"s basic needs for housing, education, health-care and income. Rejection of social rights and government involvement. Any social arrangement that brings buyers and sellers together to exchange a commodity (good or services) Does not have to be a physical space: e-bay, stock exchange, etc. Best institution to allocate resources in society. Welfare politics = treat people as children. Neoliberal policies = treat them as responsible adults. Seeks to bring all human action into market transactions. More social relations mediated by commodities &money. Market competition: brings out entreprencurial creativity creates more wealth. David harvey, a brief history of neoliberalism, 2005. Minimum legal framework for markets and free trade.
