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Week 6 Notes

by: Maggie MacDonald

Week 6 Notes Comm 410

Maggie MacDonald
Penn State
GPA 3.15
International Mass Communication
Dr. Applequist

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About this Document

This week included watching a documentary, review the key points in class and discussing Neoliberalism and the World Trade Organization. No class Friday.
International Mass Communication
Dr. Applequist
Class Notes
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This 4 page Class Notes was uploaded by Maggie MacDonald on Wednesday February 18, 2015. The Class Notes belongs to Comm 410 at Pennsylvania State University taught by Dr. Applequist in Spring2015. Since its upload, it has received 112 views. For similar materials see International Mass Communication in Communication at Pennsylvania State University.

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Date Created: 02/18/15
Life and Debt Film 02162015 Documentary about Jamaica nternational Money Fund Understand the history to know why Jamaican money is so weak IMF is made to have a bank to serve for short term loans and needs amp provide capital for the rebuilding of Europe 0 Third World was not included in thought but just used s Jamaica better of worse off than when it was ruled by the English gtgot independence in 1962 0 When they become free they found themselves in every economic problem because they didn t have the economic strength to make it in Europe 1973 oil price increasesall of the sudden we need more money than ever before but the private banks won t loan to you amp you must somehow decrease countries spending IMF tells Jamaica how to change the underlying issues to improve their economyJamaicans were not satis ed IMF said they should reduce trade barriers 0 Foreign imports can afford to be cheaper than locally grown now farmers are competing in an unfair system Exposes the view Americans have vs the Jamaican reality ie food in hotels is all from Miami no proper waste disposal system quotFattening a few people at the expense of a culturequot Farming going down because no one will invest in them LIFE AND DEBT REVIEW The reason that Jamaica is able to sustain itself economically at all is tourism Main takeaway Jamaica is in debt The larger issue relates to weekly readings o The larger entities that are put in place World Bank IMF to serve countries equally with representation and funding etc but are time and time again seen to be it is not equal MF encouraged Jamaica to devalue it s currency and that ended up hurting Jamaica in the long run 0 Because it s currency was devalued by IMF recommendation the value of the exports coming out ofJamaica decreased 0 A lot of the economy in Jamaica was based on exports 1962 Jamaica gained independence from Great Britain What was the World Bank s role in this lm Bad Three explanations of what free zones are 1 The quotKingston free zonequot is an area that is not technically a part of Jamaica but kind of a separate part where the US brings in materials for Jamaicans to work on for a much cheaper price they could elsewhere 0 Almost like slave labor zone Abercrombie Polo amp other brands are known to participate This is because the economy is so bad in Jamaica 2 Because it s technically not a part ofJamaica they don t have the same taxes rules laws etc And therefore corporations can do things that they wouldn t otherwise be able to 3 Free zonesexploitation of labor Workers live in a manner that is almost slave like Free zones are great for capitalism and for America no taxes no rules deregulated but extremely bad for the individual people The world bank essentially refused to help Jamaica with these free zones because it s technically outside Jamaica World Bank should be regulating the prices llMF and World Bank were both not helpful at all forJamaica NEOLIBERALISM amp THE WORLD TRADE ORGANIZATION What is neoliberalism Think of it as a paradigm Term coined in WWl by Germany US economists adapted the term in the 19705 to serve a promarket model Emphasizes deregulation of national economies ie less government involvement less rules which means more freedom for companies to essentially operate however they want Emphasizes privatization Liberaizes international trade Main Points of Neoliberalism 1 The Rule of the Market emphasis total freedom of movement for capital goods and services liberation of enterprise from any bonds imposed by the governmentiberation for companies to act as they see t 2 Cutting Public Expenditure for Social Services ie education health care because you want the government s role reduced associate with capitalism 3 Deregulationdon t want the government involved in regulation of everything that could diminish pro ts 4 Privatization selling stateowned enterprises and services to private investors includes banks hospitals water etc lOften times the US will operate under a neoliberal system Example colleges in the US are forpro t institutions Penn State can essentially do whatever they want with our tuition money 5 Eliminating the Concept of the quotPublic Goodquot or quotCommunityquot replacing these concepts with quotindividual responsibilityquot Critigues emphasize in all points on leaving the poorest people to nd their own solutions to problems like health care education etc Troubling because of the American Dream From the perspective of Penn State Neoliberalism is awesome amp gives lots of opportunity for growth The 18005 and 19905 We saw an increase in deregulation and privatization in media industries With new digital information and communication technologies Once media became privatize and made a forpro t the game was changedljl while media still functions to inform the public it is fundamentally a business Policy Shifts Poicy shifts occurred from a statecentric social responsibility view to a privatized view freemarket emphasis as the dominant media paradigm 1984 when deregulation and privatization really went off with Reagan s quotOpen Skiesquot policiesljReagan was all about privatization and deregulation General Agreement on Trade amp Tariffs GATT set the margins for international trade in services beginning in 1947 The GA39IT propelled the creation of the World Trade Organization Supranational Organizations lThose that kind of transcend the whole word World Bank nternational Monetary Fund WTO dictates the rule of trade the most powerful global trade institution ever created Strives for equality o In reality protects the nations with the most economic power World Trade Organization Shah In theory the idea behind the WTO is that trade helps to diversify the local economy WTO is the primary international body that helps to promote free trade Point of reading think about what the WTO is supposed to do vs what it s actually doing Benefit of WTO is for the countries most powerful Critics suggest the WTO is simply an instrument by which more powerful governments and corporations can govern international trade and economic relations to suit their own ends The inclusion or exclusion of sectors in trade negotiations was driven primarily by the needs of wealthier countries and by competition and neganUons TRIPS quotThe Agreement on TradeRelated Aspects of Intellectual Property Rightsquot Raises issues about equality those in the developing world and how much right exibility a country has on making it s own rules OECD quotOrganization for Economic Cooperation and Developmentquot Sometimes the acronyms above sounds very good but by in large they increase deregulation and privatization into becoming even more than they were originally Satellite Communications ntesat Started as intergovernmental treaty organization to operate a global satellite system for telecommunications services offering affordable satellite capacity on a nondiscriminatory basis 0 Great idea in theory 0 In the 805 lobbyists corporations those who had in uence on the business industry said we should focus more on the market Intelsat ended up becoming a corporation in July 2001 0 Shows how neoliberalism can have effect Disaster Capitalism Klein There are countries quotHigh risk countriesquot that are on watch list to enter into others when they struggle Disaster capitalismextension of neoliberalism quotPrecompletequot contracts to rebuild countries that are not yet in con ictbroken US is involved in many contracts ie US with Iraq quotCreate democratic and marketorientedquot states Sell stateowned enterprises ssues in uence the third party the country is rebuilding is putting on the other Justified as quotsophisticated colonialismquot or reconstruction Example after 911 owner of funeral home see business opportunity


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