...which has its weaknesses and strengths and cannot be judged either way. The term Neoliberalism can be defined as a ‘modernised or revised form of liberalism, one based on belief in free market capitalism and the rights of the individual. This is a definition given by the Oxford English Dictionary 1989. In the 1970s Neoliberalism enjoyed increasing popularity and an aspect of the theory we should look at its influence on the Washington Consensus which was an extensive list of economic policies written by John Williamson in 1989. This was a package of standards created to aid countries in economic crisis. Neoliberalism reduces the influence of state and trade unions on markets and reduces the public sector workforce. It also increases in the privatisation of formerly public owned institutions, decreases state interference and opens up markets of an economy to foreign companies. A country which takes on Neoliberal approaches to its economy, in theory should favour strong individual private property rights, rule of law and the institution of freely functioning markets and free trade (Harvey, 2005). There is a criticism to Neoliberalism states as it is described and said to be designed to reduce poverty and other inequalities however it is more tailored to meet the needs of capitalism and a global scale (Kothari, 2002). I believe a term or a section we should look at when looking at Neoliberalism is ‘economic liberalism’ which is the belief in that the state...
Words: 2501 - Pages: 11
...restraint"—often as a pejorative remark—in the 16th and the 17th centuries.In 16th century England, liberal could have positive or negative attributes in referring to someone's generosity or indiscretion.[13] In Much Ado About Nothing, Shakespeare wrote of "a liberal villaine" who "hath...confest his vile encounters".[13] With the rise of the Enlightenment, the word acquired decisively more positive undertones, being defined as "free from narrow prejudice" in 1781 and "free from bigotry" in 1823.[13] In 1815, the first use of the word liberalism appeared in English.[14] In Spain, the Liberales, the first group to use the liberal label in a political context,[15] fought for the implementation of the 1812 Constitution for decades. From 1820 to 1823, during the Trienio Liberal, King Ferdinand VII was compelled by the liberales to swear to uphold the Constitution. By the middle of the 19th century, liberal was used as a politicised term for parties and movements all over the world.[16] VALUES OF LIBERALISM 1. Pluralism, 2. Toleration,...
Words: 2991 - Pages: 12
...pictures and electricity. The demand and aspirations bought out significant changes in lifestyle and culture. Popular culture in the 1920’s was characterized by the innovation in film, radio, music, fashion, dance, literature and intellectual movements.The 20’s was often referred to as the “Jazz Age”, Jazz music experienced a dramatic surge in popularity.George Gerswin wrote Rhapsody in blue And in American in Paris. Eddie Lang and Joe Ventuiti While the first musicians to incorporate the guitar and Violin into jazz.Dance clubs became extremely popular.Dances such as the waltz, foxtrot ,and the tango were the most popular.There was a variety of novelty dances during this period which were the break way,and he lindy hop, which eventually evolved into the swing.Before world war one woman started to migrate towards the cities,during world war two they started to work in factories.After WWI woman found a new sense of worth and belonging, they recieved the right to vote and social independence as well. In the 1920’s our modern day “Thot” would be referred to as a flapper, who usually wore a short hair cut , along with short skirts and tank tops to top it all off they smoked cigarettes and drank beer. Flappers usually engaged in conversation with older men who they found attractive. The 1920’s...
Words: 1703 - Pages: 7
...for criticizing neoliberal labor conditions, even as it has produced new structures of surveillance. I unravel the neoliberal politics of a state that protects workers’ health yet governs worker–citizens through an apparatus of medical experts. I find that workers’ labor problems are experienced and managed as bodily problems in ways important to remaking Italian citizenship. [neoliberalism, state, labor, biopolitics, citizenship, bodies, Italy] An institution, even an economy, is complete and fully viable only if it is durably objectified . . . in bodies. —Pierre Bourdieu1 It was the spirit of capitalism made flesh. —Upton Sinclair2 n 2003, a new psychophysical disturbance, organizational coercion pathology (disturbi psichici e fisici da costrittivit` organizzativa sul a lavoro), or OCP, became a work-related illness that was insurable by an Italian state public-health institution (Istituto Nazionale per l’Assicurazione contro gli Infortuni sul Lavoro [INAIL] 2003).3 Telltale symptoms, often likened to those of posttraumatic stress disorder (disturbo post traumatico del stress), include anxiety and depression. According to medical experts, its cause is related to a form of harassment recognized widely in much of Europe (e.g., Amato et al. 2002; Ege 2001)— something Italians call “mobbing” (il mobbing; Ege 1996; Leymann 1990).4 In the early 1990s, mobbing referred to the isolation, mistreatment, and...
Words: 18731 - Pages: 75
...THE ENDLESS CRISIS REPORT Introduction The Endless Crisis was written by John Bellamy Foster, the editor of Monthly Review and professor of sociology at the University of Oregon collaborating with Robert W. McChesney. The article came originally from the introduction of the book called The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the United States to China. The Great Financial Crisis and the Great Recession began in the United States in 2007 and quickly spread across the globe, which appear to be the turning point of the world history. The recovery plan was set to two year, however the world economy five years after crisis is still in the sluggishness. The Traid – United States, Europe, and Japan remain caught in a slow growth condition, financial instability, and high unemployment rate. As a consequence, the effects spread globally. Despite the slowdown of the global economy, China is the only country found out to be a bright spot as its economy is still expanding. Different views on the Stagnation In the United States, the focus of financial crisis shifted to the idea of economic stagnation. The idea of stagnation was introduced by authorities and published books as follow. Firstly, Ben Bernanke, chairman of Federal Reserve Board said on his speech in 2011 that the stagnation was not affects only the United States, but the global economy as a whole. He moreover stressed that he do not expect the long-run potential growth...
Words: 6358 - Pages: 26
...Introduction Political systems direct the form of governance which a country utilises and are based on a wide number of factors including core values, economy, culture and relations with other countries. These systems seek to improve citizens well-being though can be driven by diverse and sometimes contradicting ideologies. Liberal Democracy in its broadest sense combines the values of individual freedoms and communal participation in governance. Though the definition of liberal democracy is also very intangible and has a wide history of interpretation in Australia which has strongly influenced its current form and application(Hirst 2002, pp. 231-232). So how Australia’s liberal democratic system put into practice its underlying ideologies and does it truly enhance the rights and freedoms of its citizens. Definition of Liberal Democracy The wider populations general understanding of the concept of liberal democracy can also change overtime as the interpretation of the idea becomes vaster. Liberalism in its earliest form is now described as classical liberalism and promotes individual freedom with minimal intervention from government. This form of liberalism tends to assume that anyone can become successful if they work for it. (REFERENCE) Democracy is a concept bracing an overarching ideal of having the ability of communal participation of stakeholders regarding the direction of governance. The historical use of the term democracy is perhaps also the way of describing its...
Words: 1508 - Pages: 7
...Final Exam Questions 1. Q: Explain the historical relationship between Hutus and Tutsis. Before 1500s, there were mainly 2 tribes in Rwanda. Hutus and Tutsis. However, Tutsis had better agricultural and trade and combat skills. Very slowly over time, Tutsis took over the land ownership of Hutus and Hutus became part of Tutsis society. This was not a violent take over. This happened peacefully. Tutsi created an agreement that allowed Hutus to work on their land in exchange for payment and protection. As Tutsi became stronger, they saw no need to pay and protect Hutus. Hutus became Tutsis’ slaves. After World War II, Rwanda became Belgian colony. Belgian government tried to establish equal rights between Tutsis and Hutus. UN in 1962 gives independence to Rwanda. Election system allowed a Hutu to become a president. Tutsis tried to overthrow the government, but failed and almost all Tutsis fled from the country. Hutus killed almost 12,000 Tutsis in the process. The president signed a cease fire and in 1990, he promised to make many changes to Rwanda to try and allow Hutus and Tutsis to live together in peace. However, Hutu president Juvenal Habyarimana was killed when his airplane was shot down by unknown group. Angry Hutu extremists started to massacre Tutsis in Rwanda. Almost 927,000 Tutsis were killed in 100 days. UN and all other countries in the world did nothing. 2. Q: It...
Words: 2696 - Pages: 11
...it survive, without an adequate food supply” (Borlaug, 1970). However, the hunger problem troubles a quarter of the world’s population even in these years. The problem of world hunger is serious and has affected economic development in many countries. It is common knowledge that food is the first necessity of people, but to solve the problem of feeding a population of about 6.5 billion is a big challenge to the world. Lindsay (2008) reports that food is in short supply every year because there is not enough to satisfy people’s demand in the impoverished countries. However, food security is the basis of the social development in the world. It is quite clear that a hungry country cannot make great efforts to develop the economy and improve the living standards of its people. For example, during the 3 years from 1959 to 1961, because of the food shortage, China was hesitating, virtually at a standstill, and there was little economic growth and not much of a rise in the standard of living. Therefore, solving hunger problem is...
Words: 1435 - Pages: 6
...ALF Money and the Prices in the Long Run and Open Economies Name Institution Contents 1.0 Introduction 3 2.0 History of Economic Changes and comparing it to Forecast for the next Five Years 3 2.1 Changes in GDP 3 2.1.1 Economic Forecast 4 2.2 Changes in Savings 4 2.2.1 Economic Forecast 4 2.3 Changes in Investment 5 2.3.1 Economic Forecast 5 2.4 Changes in Unemployment Rates 6 2.4.1 Economic Forecast 6 2.5 Changes in Real Interest Rates 7 2.5.1 Economic Forecast 7 3.0 How Government Policies Can Influence Economic Growth 8 4.0 Influence of Monetary Policy 8 5.0 Influence of Trade Deficits or Surpluses 9 6.0 The market for loanable funds and the market for foreign-currency exchange 9 7.0 Recommendation based on the Achievement of the Strategic Plan 10 8.0 Conclusion 11 ALF Money and the Prices in the Long Run and Open Economies 1.0 Introduction (Creasey, Rahman, & Smith, 2012), defines economic growth as the rise of the monetary value of the goods and services produced by a country or an economy over a given period. Economic growth is simply the percentage change (increase or decrease) in the real GDP (gross domestic product) (Ahmad, 2013). "The economy of the United States is among the top largest economies in the world though it is facing stiff competition from other economies such as China," (Orhangazi, 2008). An analysis of the US economy reveals that...
Words: 3179 - Pages: 13
...* * * * * * * * Introduction The international financial crisis has drawn an international attention in financial regulation and policies made by governments have become increasingly prominent. In particular, strengthening financial regulation in London as an international financial centre requires huge efforts. London has been able to an international financial centre continuously, mainly due to a large number talent are familiar with the financial industry London has a unique advantage in language and location (Re, 2005). In addition to banking sectors, insurance, trust, securities and asset management business also developed. However DeMartino (2000) highlighted the current global economic depression and international financial crisis, along with UK Treasury published paper “The reform of the financial markets” referred to as “the worst crisis in 60 years”. In contrast, Frieden (2000) described the analysis of the causes of the British government's international financial crisis, and make policy recommendations on how to strengthen financial regulation. UK Financial Regulation Authorities According to Green (2011) Britain's “2009 Banking Act” was taken effect in which compared with the previous various banking laws, this law shows characteristics such as authorizing the Bank of England more responsibilities and authorities in the prevention aspect and deal with financial risks. Meyer (2001) correspondingly highlighted that the...
Words: 2353 - Pages: 10
...without restraint. Subprime mortgages offered an opportunity to tap a new source of profits, namely, the increase in housing prices. Many financial institutions engaged in unscrupulous actions to convert household wealth into corporate profits. Efforts to reign in the industry remain wanting. Keywords: acquisitive society, banking ethics, banking profits, Goldman Sachs, subprime crisis JEL Classification Codes: A13, B25, B26, D63 The bailout of the banks violates the legitimacy of markets, the ethos that profit represents the reward for success, loss the punishment for failure. The outrage over bailouts combined with insulating people from the effects of the crisis has fostered an anti-interventionist reaction and a resurgence of neoliberalism. Insulating people from the effects of the crisis has largely left intact the habits of thought and the basic institutional structure. The continued reign of pecuniary values leaves intact the Goldman Rule: pursue profitable opportunities regardless the effects on others. The Goldman Rule rests on the assumption that increases in profitable opportunities increase the opportunity cost of ethical behavior. Ethical behavior refers to self-imposed actions to avoid taking advantage of others that result in lower profits. The Goldman Rule suggests that financial institutions...
Words: 3823 - Pages: 16
...Globalisation, of course, is therefore a manifestation of a neo-liberal economic ideology. Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. : all those processes by which the peoples of the world are incorporated into a single world society. : Globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa. For eg. Recession US eg The International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people and the dissemination of knowledge. Further, environmental challenges such as climate change, cross-boundary water, air pollution, and over-fishing of the ocean are linked with globalization. Globalizing processes affect and are affected by business and work organization, economics, socio-cultural resources, and the natural environment. Globalization is deeply controversial, however. Proponents of globalization argue that it allows poor countries and their citizens to develop economically...
Words: 2545 - Pages: 11
...Neoclassical Liberalism social economists. Among all these financial crises, the financial storm in East Asia, starting from the year of 1997, wreaked beyond doubt the greatest havoc on the Asia and the world economy as a whole, dragging down the ‘Asian tigers’ (Thailand, Malaysia, Indonesia, Philippine, Hong Kong, Korea, Taiwan and Singapore) from the peak of the glorious ‘Economic Miracle’ in the past few years. Because of the severity and contagion of the East Asia Crisis, important questions have been raised such as the causes of the crisis, the role of the International Monetary Fund (IMF), and the financial architecture of international capital markets. As one of the most important international organizations, IMF has its great impact on the world economy. In this paper, the influence of IMF before the eruption of the crisis and its role in the recovery of East Asia economy will be presented. The paper then focuses on the criticisms on IMF’s roles and adopted policies before and after the eruption of the financial crisis from the view of two main research camps ----Neoclassical and Keynesian. Thus, the paper elaborates the contradictory roles of IMF which was viewed as both a powerful international forces associated with both the...
Words: 2781 - Pages: 12
...THE SOCIAL FORCES BEHIND TRADE UNION FAILURE TO PROTECT WORKERS INTERESTS IN TANZANIA: A specific look at the Tanzania Teachers Union (TTU) Eric Michael Mattaba B.A (Sociology) Dissertation University of Dar es Salaam August 2015 THE SOCIAL FORCES BEHIND TRADE UNION FAILURE TO PROTECT WORKERS INTERESTS IN TANZANIA: A specific look at the Tanzania Teachers Union (TTU) By Eric Michael Mattaba A Dissertation submitted in partial fulfillment of the requirements for the degree of Bachelor of Arts (Sociology) of the University of Dar es Salaam University of Dar es Salaam August 2015 CERTIFICATION The undersigned certify that they have read and hear by recommend for acceptance by the University of Dar es Salaam a dissertation entitled: The social forces behind trade union failure in protecting workers interest in Tanzania: A specific look at the Tanzania Teachers Union (TTU), in fulfillment of the requirements for the degree of Bachelor of Arts (Sociology) of the University of Dar es Salaam Mr. Armstrong Matogwa (Supervisor) DECLARATION AND COPYRIGHT I, Eric Michael Mattaba, hereby declare that this dissertation is my own original work and that it has not been presented and will not be presented to any other University for a similar or any other degree award. Signature………………………………….. This dissertation is a copyright material protected under the Berne Convention, the copyright Act 1999 and other international and national enactments in that behalf, on intellectual property...
Words: 14263 - Pages: 58
...1a) Descriptions of governments can be based on: Economy - what provides the goods and services that are bought, sold, and used? Capitalism-(Russia)--In a capitalist or free-market economy, people own their own businesses and property and must buy services for private use, such as healthcare Socialism (Norway)-- Socialist governments own many of the larger industries and provide education, health and welfare services while allowing citizens some economic choices Communism (Cuba)-- In a communist country, the government owns all businesses and farms and provides its people's healthcare, education and welfare. Politics - how is the government run? Dictatorship (Iraq)-- Rule by a single leader who has not been elected and may use force to keep control. In a military dictatorship, the army is in control. Usually, there is little or no attention to public opinion or individual rights. Totalitarian (China)-- Rule by a single political party. People are forced to do what the government tells them and may also be prevented from leaving the country. Theocracy (Iran)-- A form of government where the rulers claim to be ruling on behalf of a set of religious ideas, or as direct agents of a deity. Monarchy (Jordan)-- A monarchy has a king or queen, who sometimes has absolute power. Power is passed along through the family Parliamentary (Israel)-- A parliamentary system is led by representatives of the people. Each is chosen as a member of a political party and remains in power...
Words: 7307 - Pages: 30
