GLOBL 1 Lecture Notes - Lecture 14: Good Governance, Resource Curse, Dutch Disease
Document Summary
The most worrying collar of the great depression of the 20th century was the dramatic deterioration in global relations occasioned by extreme nationalism. This chauvinism flowed directly from the parlous state of the world economy in the 1930s and of course led to the outbreak of the second world war. The great depression of the 21st century is not that old 8 years old or so but already, the warning signs are manifest. The kind of growth we are seeing is at the top. Middle class consumers are the goose that lays the golden egg. The consumers of housing, cars, durable goods, clothing. Inequality is holding back the recovery - joseph stiglitz global inequality. The same policies that are increasing inequality at home are increasing inequality between nations. De-regulation and free trade policies enacted via the world bank and imf favor the already rich. Huge multi-nationals have the resources to exploit newly opened markets and resources.
