AUPOL103 Chapter Notes - Chapter 5: Business Cycle, Stater, Neoliberalism

• School: University of Alberta
• Department: Augustana Faculty - Political Studies
• Course: AUPOL103
• Professor: blythe

Document Summary

Great recession in 2008, nancial crisis that has been the longest and deepest economic crisis since the great depression in 1930s. Great depression effectively prescribed that government intervention in the market and in the private lives of individuals and families should always be held to a minimum. Rst eroded and then displaced the post-war consensus and the keynesian welfare state. Liberate capitalist markets from political interference and create new markets. Free entrepreneurs from the constraints of regulation and taxation and to contain the alleged excesses of democratic politics with the discipline of market logics. European feudalism - revolting against the privileged statues of the landed aristocracy in both political and economic life, liberals advanced the ideas of individual freedom, political equality, and democratic accountability. Critics argue that neo-liberalism is only partially liberal as it focuses almost exclusively on property rights and the rights of the individuals to consume and accumulate wealth without government interference.