midterm notes

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Department
International Development Studies
Course
IDSB04H3
Professor
Maliha Chishti
Semester
Winter

Description
WEEK 1 Development as an institutional apparatus: Intl financial institutions eg IMF, world bank Intl NGOs eg amnesty intk UN-multilateral organization eg unicef, FAO and government-CIDAUSAID;bilateral agency Multilateral: independent states that work with organizations but are validated in states. Modernity is fundamentally shifting cultural traditions to modern ones to achieve development. Traditions: 1) Public to private (landownership): move yourself from your communal identity to your ownself b.c development is about individual growth. 2) Families(organization based on ethnicity):state development wants you to remove your allegiance to families to allegiance to states. 3) Mythsuperstition: logic; promote rational actors and have allegiance to states but do not compete with states WEEK 2 Development was borned on jan 20, 1949 when president Truman gave his inauguration speech, US borne policy and aid was going to spread US policies in the world i.e. capitalism and freedom The Oil crisis In 1960, US had a national deficit; they printed more US $ and so the value of US $ depreciated.So, the OPEC came together b.c the profit they earn is less now since they trade in US 4 so they say the value of US 4 is plummeting and we are hiking the price of oil.there is chaos now and everyone needs oil; they have a lot of cash and this money was called petro $. Sl they put money in western banks which lend this money out and so interest rate decreases.so for the first time, private banks lend money to governemtns and rd to 3 world countries bcz there was a lot of money available.everybody was asking for money and easily getting it.at a global lever, western private banks started to get into development by landing money to 3 world countries which earlier was suppose to be risky so now this money went and disparity increases between the haves and the haves not. In 1973-1982, loans skyrocketed.Mexico in 1982 stepped up and defaulted its loan saying we cant pay so now came a major cure that came fully in 80s and 90s i.e. SAPs-strutural adjustment programs-earn forign current to pay debt repay currency i.e. by trade eg natural resources; these programs were neoliberal designs and there were 3 conditions to it: www.notesolution.com
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