-Intro -dramatic events reverse transformations -changes in policies vs technology -different groups w/ different interests -historical reversals -crisis

came earlier to latin america -neoliberalism was embraced and now it's being reversed -different schools of thought -master narrative, different points of view that correlate to different economic thoughts (page 6 of reader) -neoliberal: antigov, competitive markets best arrangement -liberal: similar basic econ structure, not against private property, capitalism operates better w/ intervention -radical: systemic change, problems inherent in capitalism, strong social group necessary to overthrow capitalism, changes arent automatic

-What is labor -Not big deal for exam -Labor as a social group: different groups in society, working class, proletariat who work for someone else for pay, upper class who employ -Independent small propieters: low income societies, NAFTA, elimination -social/political movement, effictive organization necessary for change -Changing conditions of labor -Focused on US -Stagnation of wages, increase in productivity -decline in man. employment -declining lines of manufacturing population -change in structure of demand, increase in income, automation, traditional import competition -trend extends much earlier

-outsourcing not a good answer -union decline cant be described entirely by decline in manufacturing -high unionization industries shrinking, low growing -high: manufacturing and mining -not shift in industries, decline across the board -what are failings of union movement itself -lack of organizing other sectors -decline different across the board -US vs Canada: canada is easier to organize unions, big differences in environment -low income countries: effects of free trade (mexican corn farmers), huge boom in manufacturing employment is a myth -Global economic integrations -trade in goods and services -international investment: foreign direct investment -integration in terms of finance -buying/selling of paper claims to wealth -labor migration -integration/openness not the same thing -free markets describe policy, difference between policy and outcomes discription -no detail in different kinds of barriers - "Openness" one does not go with the other -NAFTA an example -EU open both ways -What reasons people/government may try to maintain regulation of countries relation to world economy -domestic content requirement to attact more than import of goods -technological transport requirement -govt putting price on other countries using their country

-leveraging access to its markets -how a country can regulate -its like having a door -WTO and IMF -Richest countries make rules -infant industry -all countries not free to choose way -less powerful countries not as powerful -integration, incomes and equality -one important issue is equalization=integration, convergence: neoclassical economists interested in some kinds of economic inequality and not others. concerned w/ market power, public policies protecting industries -not interested in class power, inequalities between workers and employers -workers becoming weaker -globalized production: creation of the system -1970s crisises in the US -breakdown leads to problems in us business -increased regulation/unionization -weakened position of labor -vocal recession created trauma -reduced bargaining power -international aspect: outsourcing threat -us federal reserve increased interest rates in 80s, decline in spending, in short run doesnt favor employers, employers fired everyone who went on strike, employers becoming more savvy in fighting new unions, hostile political and legal situation -debt crisis in latin america, connects to crisis in us -increase in oli prices going into big oil countries -money goes into banks, variable interest loans in latin america -us massively raises interest rates

-nails la countries -structural ajudstment -change from regulated capitalism to neoliberalism -latin america -african countries in 80s/90s -battles between social groups in different countires -3 way battle between banks, elites, and workers -power balance