Globalisation & Neoliberalism

ellierose1808
Mind Map by ellierose1808, updated more than 1 year ago
ellierose1808
Created by ellierose1808 almost 6 years ago
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Mind Map on Globalisation & Neoliberalism, created by ellierose1808 on 05/07/2014.

Resource summary

Globalisation & Neoliberalism
1 Process of economic globalisation which radically intensifies within first half of 20th and 21C
2 MAIN IDEA
2.1 Increase in volume of trade and investment built upon an international division of labour which inter-links state economies in a new way
2.2 Creation of global markets in commodities, natural resources, finance, tech result in high levels of eco inter-dependance between national economies
2.2.1 Dependant on each other and highly sensitive to changes in global markets like capitalism
2.3 Fluid movement of capital across national boarders - states in competition to secure capital (domestic & foreign investment)
3 Redesigning role of state 1980s
3.1 KEY IDEA
3.1.1 Adopt policies which de-regulate economy and open it up to the global market
3.1.2 Free market principles (and self-interest) to direct the national economy
3.1.3 Privitisation of formerly nationalised assets such as energy, transport..currently Sussex situ
3.1.4 Adam Smith - invisible hand' pf market guided by private actors engaged in self-interst
3.2 HOW IT HAS AFFECTED RIGHTS OF INDIVIDUALS
3.2.1 State interference as band as free market as only means of securing eco growth an individual liberty
3.2.2 Providing social justice is no longer a role pursued by the state - indi moral responsibility (to work hard, save, invest wisely)
3.2.3 PROBLEMS WITH NEOLIBERALISM
3.2.3.1 Replaces an ineffective public monopoly with ineff private
3.2.3.2 Market failure - external factors not accoutned for e.g. environmental and their subjection to crisis
3.2.3.3 Owner accountability?
3.2.3.4 Limitation of democracy - will of the people as danger to the working of free market
3.2.3.4.1 Creation of greater inequality as wealthy elite accumulates greater wealth via attaining cheap private ownership of public assets
4 • Does neoliberalism involve a minimalist government? Or does it require a very activist government to continually create markets, defend them, and save them (i.e. saving British banks from bankruptcy) in times of crisis? • Should all public assets be privatised? How does this fit with an idea of social justice? • Negative or positive liberty? • A constitutional order of equality, or , a constitutional order of egoism?
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