W S 201 Lecture Notes - Lecture 8: International Monetary Fund, Structural Adjustment, Neocolonialism

• School: Iowa State University
• Department: Women's Studies
• Course: W S 201
• Professor: Schaal Michele

Document Summary

What triggered globalization: technological innovation, role of policies. Benefits: economic growth (bric, expanded choice/variety, more encounters between cultures. Increased volatility (financial crises: small countries= vulnerable, gender/class still matter, putting profit over people. 16th-19th centuries: european countries annexed other countries. Corruption and endemic poverty = powerless position. World system: 1st = industrialized, 2nd = communist, 3rd = decolonized (binary system or dualism) Clai(cid:373)i(cid:374)g (cid:862)(cid:1007)rd wo(cid:396)ld(cid:863) = used agai(cid:374)st itself. Liberalization: little regulation of all markets (global) Privatization: government-owned to private sector (macro) Western institutions determine global economic, financial, and trade policies: world bank. Developing nations: loa(cid:374)s" (cid:271)ased o(cid:374) ap, =financial dependence, =endless debt. Culture hegemony/homogenization = capitalist culture and values as norm. Consequences within developed countries: outsourcing, budget cuts, bigger wealth gas. Glo(cid:271)al u(cid:374)e(cid:395)ual dist(cid:396)i(cid:271)utio(cid:374) of (cid:449)ealth: ri(cid:272)hest (cid:1005)% = (cid:1008)(cid:1012)% (cid:449)o(cid:396)ld"s (cid:449)ealth i(cid:374) (cid:1006)(cid:1004)(cid:1005)(cid:1008) (cid:894)o(cid:454)fa(cid:373) Working class/ poor women jobs = normative gender roles: domestic work, care, sex work, transnational factories, agricultural work. Average wage gap: 10-30% (un women, 2015)