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24 - II The Making of “Japan IncJ” a Government...

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Week 9 Outline Lecture 24: New Models in Global Capitalism I) An Equitable “Third Way”? a. Beyond a Capitalist/Communist Duality i. Not how to produce wealth, but how to distribute it more equitably ii. No longer an “either/or” choice between capitalism and communism 1. Example of Scandinavian countries 2. Gini Coefficient 3. Exemplary Japan • Social programs seen as symptoms veering toward communism • Structural adjustment programs were aimed to create favorable conditions for 1 st world economies, put pressure on local agriculture • This would guarantee cheaper labor for 1 st world industries, the trend toward outsourcing • The profit made in 3 rd world were used to paid debt from 1 st world • SAC programs were thought to be a push toward a turn around in 3 rd …this didn’t happen • In the eighties urban poverty rose by 50% • SAC destroyed traditional income for middle class in Latin America, destroyed gov’t employment, • SACs forced local farmers to sink or swim in globalized competitive world
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Unformatted text preview: II) The Making of “Japan, IncJ” a. Government directed economic growth i. In 1960s Ten year plan to double Japan’s GNP ii. The “developmental state” b. Explosive Economic Growth i. 1955-1973 double digit growth rate ii. Recession in 1970s due to energy crisis Skip (previous lecture on paper) a) The First World’ Stranglehold of the 3 rd World i. Imposition of Structural Adjustment Programs in 1980s 1. IMF and World Bank mandated conditions on most 3 rd world countries 2. Globalization of Reaganomics ii. Why not allow them in Third World? 1. Cold war mentality 2. favored economic growth of 1 st world through globalization 3. anticipated turn around in 1990s b) Consequences in the third world i. Plight of poverty 1. between 1980 and 1986, urban poverty in Latin America rose by 50% 2. retreat of the state ii. downward mobility 1. SAPs led to greater disparity in wealth distribution iii. Breakdown of family structure iv. Globalization...
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