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IC333 Final Review- Dan Lieberman

IC333 Final Review- Dan Lieberman - IC333 Names and...

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IC333 Names and Concepts Postwar Settlements Britain : Keynesian welfare state, unstable political settlement, pluralist society, economic decline, failed economy by 1970s United States : company-led economy, Keynesian economic policy, “welfare state laggard”, decentralized political economy, pluralist society, labor never fully incorporated West Germany : bargained economy, “social market”—welfare state + open markets, strong unions, employer associations, banks Japan : state-led economy, close state-business relations, business highly organized in cartels (keiretsu), labor incorporated at enterprise level only Postwar settlements 1990-today : stable, bipolar world order gone, “New World Disorder”, dominant global North economies United States : competitive firms, low unemployment, but trade and budget deficits, consumer debt, growing inequality, labor movement fighting for revitalization Regional integration: NAFTA, CAFTA Japan : strong, competitive firms, strong exports, but collapse of bubble economy (1989- 92), banking crisis, political corruption, economic stagnation Regional integration: East Asia- China Germany : larger, unified country, “social market” economy, strong exports, high wages, but high unemployment, stagnation in the East Regional integration: EU grows to 27 countries European Union: The Institutions European Commission : executive , with president and cabinet (20 departments), EU administration (civil service 50,000 employees “eurocrats”) European Parliament : consultative , veto power on EU budget, elected across Europe every 5 years Council of Ministers-European Council : legislative , final decision-making authority, unanimity on some issues, “qualified majority voting” on others European Courts of Justice : judicial , can overturn national laws, increasingly influential European Central Bank : monetary policy , sets interest rates, fights inflation MITI “ Postwar Japan State-Led Growth” : state-led industrial policy -strategy for economic development -selective allocation of resources -gatekeeper -promoter ACFTU “All-China Federation of Trade Unions” -sole national trade union of the people’s republic of china, and largest trade union in the world
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Keiretsu “Postwar Japan: State-Led Growth” -bank-centered cartels, large firms -export drives, mutual support -by 1970s, large firms such as Toyota, Sony and Mitsubishi no longer need state for development -loosening of state-led model, 1980s-90s NICs “Newly Industrializing Countries” -East Asian Tigers (1980-90s) -South Korea, Taiwan, Hong Kong -Exports, state-led economic development -Global south success story, model Hothouse of Competition -Rapid growth period 1950-1990 -Postwar Japan state-led growth -A reorganization of production -export drives, and growing trade surpluses Justice for Janitors -part of urban and regional revitalization -organizing and collective bargaining campaign -industry drive -major center of union organizing, bargaining and politics -catalyst for revitalization in LA CMEs “Coordinated Market Economies” -bargained adjustment: state, business, labor
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IC333 Final Review- Dan Lieberman - IC333 Names and...

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