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Final Exam IDs_StudyGuide

Final Exam IDs_StudyGuide - Postwar settlements o Deals...

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Postwar settlements o Deals that develop after WW II and how they organized their economies Britain Keynesian welfare state Unstable political settlement, pluralist society (expanded health care) Economic decline, failed economy by 1970s United States Company led economy Didn’t use state as much Keynesian economic policy Early industrializer with weak institutional base Welfare state laggard Decentralized political economy Labor not fully incorporation 1970-90s: economic crisis, rise of Japanese competition, concession bargaining, new labor management partnerships West Germany Bargained economy Social market: welfare state in terms of government and open markets Economic miracle: These stable settlements made this possible (France, Germany, Japan) Strong unions Japan State led economy Close state business relations Business highly organized (keiretsu) Labor incorporated at enterprise level o Deals that developed after 1990 (70s: economic crisis 80s free markets 90s) dominant Global north economies United States Competitive firms, low unemployment, process of deregulation continuing Trade and budget deficits, consumer debt, growing inequality, labor movement fighting for progress Regional integration: NAFTA, Central American Free Trade Agreement Globalization, Washington Consensus, employer offensive, rank and file, labor movement revitalization Japan Strong, competitive firms, strong exports
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Collapse of bubble economy, banking crisis and political corruption BUT they expanded throughout East and South Asia Having a period of rapid growth, becoming a dominant economy Regional integration: Asia, China Germany Larger, unified county, social market economy, strong exports, high wages High unemployment and stagnation from acquiring eastern territories Regional integration: EU is growing to 27; Germany is the engine of growth for the EU European Union o Treaties of Maastricht, 1993 and Amsterdam, 1997 o Last two groups: Bulgaria, Romania to join o Economic and Monetary Union: after single market, created a common currency o Common currency and central bank o 27 countries o Council of Ministers is core* European Council o European Commission Executive; Where the EU is run o European Parliament
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Final Exam IDs_StudyGuide - Postwar settlements o Deals...

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