Globalisation in crisis
- Created by: Lizziecotton1
- Created on: 04-01-19 11:28
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- Globalisation in crisis
- our current crisis
- Discourse
- Was a consensus that globalisation is unstoppable and is a good thing- lifts our standard of living
- political leaders use it to pursue their political goals
- Economic
- wages have stagnated
- under globalisation inequality has grown around the world
- top1% 9.5x richer in 1979 top 1% 20.7x richer in 2007
- Sparke 2013-global unemployment has increased by 200 million in 2012- despite globalisation talk about providing jobs
- Managerial elites have increased transnational mobility- they have the biggest financial assets and access to information and ties with the gov. and other countries. often own foreign bank accounts, and offshore tax havens- class that has freed itself from many foreign costs of national attachment
- they see the world as a flat playing field-makes a "borderless world" seem real to them- work together across borders, constantly looking to tear down trade barriers
- Managerial elites have increased transnational mobility- they have the biggest financial assets and access to information and ties with the gov. and other countries. often own foreign bank accounts, and offshore tax havens- class that has freed itself from many foreign costs of national attachment
- political
- rise in the far- right in Europe, collapse of centre left parties- centre right has been pushed further to the right to a accommodate for views
- "a Farage in every country" the guardian
- financial crisis lead to a rise in austerity, draw support from attacking globalisation
- Discourse
- the collapse of globalisation
- John Saul, 2005
- heyday of globalisation was mid 1990s, tariffs had fallen, trade agreements, tax rates for wealthy had fallen
- within a couple years- Financial crash in east Asia, Argentina
- Dan Rodrik, 1997
- globalisation exposes gap between those with education and mobility and those without
- failing of globalisation are not just for poor but whole system
- trilemma- cannot simultaneously pursue democratic politics, powerful nation states and economic globalisation
- give markets too much freedom and you have an unstoppable world economy with little social and political support
- Goodhart, 2018
- greater economic integration has not benefited all citizens
- within globalisation it has its own self destructive qualities
- collapse of America
- 6million jobs lost between 1999 and 2011, decline in US is mirrored by gains in China
- outsourcing to other countries- loss of jobs in America, Donald Trump attacks global governance
- Trump: withdraws from Paris agreement, UNESCO etc. rejects global governance, dismantling it
- John Saul, 2005
- Globalisation by crisis
- decades strong consensus that globalisation is positive for everyone, however now it is seen as a threat- what is globalisation has always been in crisis and this is strengthening
- new era or strongman authoritarianism? not anti globalist but a world where American capital can and goods can flow freely, but human rights, migrants etc don't.
- Shock doctrine: crises are used to push unpopular economic policies through e.g. cuts to social services.
- Klein 2002: draws connections between shock therapy and economic policy, the crisis of globalisation is also the process of globalisation
- our current crisis
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