ANT204H1 Lecture : Poverty, Development and Globalization II (L09)
Document Summary
Response to debt crisis is to force poor countries into saps. : situation in which high unemployment coincides with high inflation: 1970s, inflation due to the rise of oil prices + stagnation due to the industries that rely on oil slowing down. protects domestic businesses by regulating trade with foreign nations. ask industries to make their products within the country they want to sell to. M. friedman remove all regulations, let the market rule: advocated many of the rules in saps, don"t insist on companies to produce where they sell , neo-liberalist. D. harvey and late capitalism: supports friedman, time-space compression www. notesolution. com. **diagram shows difference between late capitalism (straight lines) and neoliberalism (broken lines) Time space compression caused by changes in communication technology and transportation: telephones, super tankers and international shipping hubs. made it possible to put out companies outside one"s geographic zone. made it easier to do business within many countries (world getting smaller)
