Seeing Inequality - Lecuter 17

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Political Science
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Michael Painter- Main

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February 28 Lecture 17 Seeing Inequality Seeing two reasons 1 bearing witness seeing with your own eyes 2 by looking at data by counting inequalityA 1 dollar a day what you need to survive according to china it has lifted the 1 dollar a day and has reduced poverty 45live on 2 a day or less which equals to 600 million people How you see or look at the data will tell you everything KuznetzIMPORTANTFour StoriesGlobal inequality The work and welfare statethe limitation and the benefitsGendering social protectioninequality of welfare state thru gender Local Solutionssolutions beyond the nation state 1Global InequalityKeynesian Compromise and Embedded Liberalism Bretton woods we saw the establishment of the monetary fund and then international fund which would lend money that faced economic problems under this it was an American system US dollar would be effectively world currencyGATTEuropean Reconstruction The creation of European Union avoid trouble and so on Which all lead to Golden Age of Global Growth1950 1960previous lectureAfter the Golden Agefirst is 19601970 even in the Golden Age it was uneven growth countries in Africa asia were growing much slower than others when you look at the data some countries grew faster and we seeing not uneven development but we see some regions of the world experiencing negative growth 1970s1970sDecline of Keynsianism CompromiseOPEC price spikes energy is needed to for economic development and theprices started to rise and energy became expensive and it was hard for countries that were poor they could not afford it no more Breakdown of Bretton Woods Globalization 14 of the money is controlled by the govt and the restflows daily which creates instability and creates debt crisisDebt Crises
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