GLBL 210 Week 3 Notes
GLBL 210 Week 3 Notes GLBL 210
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This 0 page Class Notes was uploaded by Hadley Ashford on Wednesday January 27, 2016. The Class Notes belongs to GLBL 210 at University of North Carolina - Chapel Hill taught by Jonathan Weiler in Spring 2016. Since its upload, it has received 8 views. For similar materials see Global Issues in Global Studies at University of North Carolina - Chapel Hill.
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Date Created: 01/27/16
GLBL 210 Notes 12516 Think of globalization as series of waves 0 Been happening for a long time Some classify current state as hyperglobalization 0 Trade increased gt 100 fold between 19552000395 help organize complex world into simple claims 0 Persuade people to adopt certain normsvalues o Emphasize certain claims and ignore others Classical liberalism is not the same as American political liberalism 0 Classical little government interference 0 American political handson government 0 Usually mean classical liberalism in this class Marx on ideology 0 Means by which people in powerjustify and legitimize their poweractions Ex wealthy smarter stronger better and reap the bene ts of these characteristics 0 Globalization creates liberalization freeing up of exchange and integration of global markets Facilitates free trade 0 Inevitableirreversible no stopping it because consistent with human nature motivated rst by selfinterest o No one power in charge markets are selfpropellant not based on human mandates 0 Globalization is good forbene ts everyone not necessarily equally or at same time Bene ts everyone in the long run 0 Furthers spread of democracy 0 Many Western world leaders generally accept these ideas loaded phrase Free positive word desirable Many free trade agreements are only free for certain things May even increase restrictions on other things Decrease competition Doesn t argue that restrictions are improper simply disputes calling it that for ideological purpose Ideologies present in market globalism 0 Free trade mislead in make it seem more bene cial 0 Social Darwinism justi cation of globalization as unchangeable Some people are rich some are poor based on innate characteristics 0 Ignores political power someone is in charge because have politicalmonetary in uence 0 Doesn39t address inequality of bene ts 00 00 12716 Smith Keynes Hayek Neoliberalism and Global Market Discourse Economic ideas in uence perspectives of world leaders all over world 0 O O O O O O O O O O O known as founder of economics quotWealth of Nationsquot Argued for market competition and division of labor key to prosperous society Individual selfinterest very important Unregulated human interactions motivated by selfinterest create prosperity and acquisition of basic needs Producers manufacture in order to feel own families adds to market D consumers able to purchase goods and do the same Mutually bene cial relationship Not opposed to signi cant government involvement in society Ex roads infrastructureO defense systems re ghters etc Skeptical of modernday businessmen wealthy private selfinterest Focused instead on greater public good moral society Principle of modern economics ldea that economic material acquisition is motivation of all humans Not necessarily desire to be rich scarcity constant scramble for minimally secure life Idea of minimally secure life dynamic People constantly want as much as wealthiest people Individual liberty most important value lndividuas rational selfinterested utilitymaximizing Utilitymaximizing nd easiest most ef cient way to achieve quotbasicquot needs Selfinterest doesn39t mean sel shness Role of state protect individual and their property No one has freedom to encroach on someone else39s freedom Everyone39s freedom should be protected Conservative NOT communist or socialist Thought capitalism was headed toward disaster Thought Great Depression caused by aws in liberalism Didn39t think humans were rational not good at predicting future biased unable to view self objectively Humans have quotanimal spiritsquot Markets don39tcan39t automatically selfcorrect Capitalism must be managed not selfregulated Managed by government policymakers and important in macro economics study of entire economic system individual decisions to savecut back have larger effects on economy as a whole Ex people decide to eat out less D restaurants make much less money O O 0 Solution to economic downturn government needs to compensate for decrease in demand by increasing spending government responsible for aggregate demand Ex government should begin infrastructure projects during economic downturn D creates more jobs D increased consumerism Government should save surplus in goodprosperous times to draw from during depression Increased government spending during recessions Class compromise end ghtingcon ict between social classes Ex laborers work hard and get paid welltreated well Result economic boom
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