SOCIOL 173 Lecture Notes - Lecture 17: Chapter 11, Title 11, United States Code, Investment Banking, Aggregate Demand
Document Summary
Lecture outline, march 13, 2017: the meltdown: sep. 15, 2008: lehman brothers, the fourth largest investment bank filed for. Chapter 11 bankruptcy protection; followed by the collapse of many more financial institutions. Woodrow wilson introduced economic regulations (big business, industry), established the. Federal reserve, introduced shorter working hours, higher wages, more rights for workers, social services, social safety net; 1920s: pres. Roosevelt"s new deal: public works, farm subsidies, etc. ) Keynes: level of economic activity is determined by level of aggregate demand influenced us econ. policy until late1970s. Neoliberal economic policies (actually conservative economic theory, advocates shift to private sector, limiting subsidies and reducing deficit spending, etc. Origins in 19th c. english free-trade liberalism, freeing up the economy ); associated with chicago school of economics: efficiency of market competition = factors of production (labor and capital) get paid what they are worth
