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antro of development mcgill

antro of development mcgill - 2 We have argued that the...

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2. We have argued that the state emerged as the primary actor responsible for economic growth and the well being of populations in the 1930s and 1940s. Give a description of the welfare and developmentalist state, contrasting it with what came before and after. -The welfare state is prevalent in industrialized countries like the US, UK and France, which maintain a welfare state domestically but will intervene other countries’ economies for the purpose of economic growth/development -Note that through out the 20th century the US not only intervened in other countries’ economies on it’s own but also was able to use it’s influence to bend the will of international agencies such as the World Bank and (to prevent the creation of) the World Food Board -The developmentalist state is what exists in less industrialized countries, it is interventionist as well but strictly in a domestic sense, it builds, encourages and protects key domestic industries -Keynesian Economics is the theory that informs the welfare state, while Import- Substitution Industrialization (ISI) is the theory that informs the developmentalist state -Before the 20th century and the welfare state the tools a state had for improving the economy were: conquest, extraction, discipline, tariffs, taxes, duties, sanctions, regulations, prohibitions, incentives, subsidies, expenditures, investments, and things like this -After the retrenchment of state-led development and the failure of internationalism came the emergence of NGO’s and non-governmental workers, although the state still plays a (much smaller) part in economic development and the well being of populations Answer 2: Welfare and developmentalist state: -John Keynes 1. Moments when the government needs to intervene 2. Private sector activities may lead to undesirable activities such as recession and unemployment 3. Financial markets are particularly susceptible to irrational behaviour and should be heavily regulated 4. Image of “mixed economy” containing both governmental and free-markets elements -Theorized a role for governments to play in national economies by making up for corporations’ drops in spendings during recessions -Responsibility for unemployment is on national governments -Leads to development of the World Bank
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-Idea of fixed exchange rate – controlling importation and exportation of countries -World Bank would be able to control nation states internationally, but fails due to national politics Before State intervention: Self-regulating markets Hierarchies and meshworks After: If we consider the World Bank, then isn’t economy still controlled? Or there is the idea of the Us being at the head of international economy and affairs If we look at what the prof discussed in Monday’s lecture, after the welfare/developmentalist states comes the neoliberal state which refers to privatization.
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