842783
Description
Mind Map by ellierose1808, updated more than 1 year ago
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Created by ellierose1808
almost 10 years ago
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Globalisation & Neoliberalism
- Process of economic globalisation which
radically intensifies within first half of 20th and
21C
- MAIN IDEA
- Increase in volume of trade and
investment built upon an international
division of labour which inter-links
state economies in a new way
- Creation of global markets in
commodities, natural resources,
finance, tech result in high levels of eco
inter-dependance between national economies
- Dependant on each other and highly
sensitive to changes in global markets like capitalism
- Dependant on each other and highly
sensitive to changes in global markets like capitalism
- Fluid movement of capital across
national boarders - states in
competition to secure capital
(domestic & foreign investment)
- Increase in volume of trade and
investment built upon an international
division of labour which inter-links
state economies in a new way
- Redesigning role of state 1980s
- KEY IDEA
- Adopt policies which de-regulate economy and open it up to the global market
- Free market principles (and self-interest) to
direct the national economy
- Privitisation of formerly
nationalised assets such as
energy, transport..currently Sussex
situ
- Adam Smith - invisible
hand' pf market guided
by private actors
engaged in self-interst
- Adopt policies which de-regulate economy and open it up to the global market
- HOW IT HAS AFFECTED RIGHTS OF INDIVIDUALS
- State interference as band as free market
as only means of securing eco growth an
individual liberty
- Providing social justice is no longer a role
pursued by the state - indi moral responsibility
(to work hard, save, invest wisely)
- PROBLEMS WITH NEOLIBERALISM
- Replaces an ineffective public monopoly with ineff private
- Market failure - external factors
not accoutned for e.g.
environmental and their
subjection to crisis
- Owner accountability?
- Limitation of democracy - will
of the people as danger to
the working of free market
- Creation of greater inequality as wealthy elite accumulates
greater wealth via attaining cheap private ownership of
public assets
- Creation of greater inequality as wealthy elite accumulates
greater wealth via attaining cheap private ownership of
public assets
- Replaces an ineffective public monopoly with ineff private
- State interference as band as free market
as only means of securing eco growth an
individual liberty
- KEY IDEA
- • 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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