2.7 - Globalization of...

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2/7/08 Globalization of Liberalization? -Globalization -Supra-territoriality, simultaneity -Liberalization -Neo-Liberalism, removing regulatory measures -Westernization -Claims about universalism on the basis of spread of social structures of Modernity Approaches to Economic Development -Modernization Theory -2 types of man: Agricultural Man and Scientific (Modern) man -society must make a transition from agriculture to urbanization -starts in England, spreads to Europe and then US -eventually the whole world will go through this process -does not take era or culture into account -Dependency Theory -comes from Latin America -capitalism is not the solution for development -solution: State control, import substitution -import substitution- only the home country can put a product on the home market if the product is produced domestically -ineffective -Different paths to economic development -Market-lead (Neo-Liberal approach) -Solution: free trade, privatization, little state interference -80’s to modern age -Latin America -not that there is no state to regulate -rather, enforces laws that support free trade -Bank-lead -confined to 19 th Century Germany - State-lead -most common in the modern era -“Asian Tigers” -can lead to a high body count (USSR Stalin) -solution: state control, export-orientation
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“Washington Consensus” (1989) -policy measures to deal with the economic crisis in Latin America -becomes a buzzword for US ideas on global economics -10 broad sets of recommendation 1.
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