Neoliberal Globalization and Its Impact

From the study guide

Course Outline

  1. Post-Bretton Woods economic and geopolitical crises of the 1970s
  2. Transformation of global capital flows and loss of state autonomy
  3. Neoliberalism ideology and its three pillars: deregulation, discipline, development
  4. Shift from state-led industrialization to market-oriented development models
  5. Global economic outcomes of neoliberal reforms: integration, inequality, and instability
  6. Retrospective evaluation and necessary adaptation of the Washington Consensus policies
  7. The Real New International Economic Order and U.S. leadership in global capitalism
  8. IMF transformation and rise of conditionality in enforcing neoliberal reforms
  9. Financial deregulation, casino capitalism, and debt crises in the neoliberal era
  10. The Washington Consensus as a transnational policy paradigm institutionalized by international financial institutions
  11. Evolution and adaptation of the Washington Consensus amid emerging global economic models

1. Post-Bretton Woods economic and geopolitical crises of the 1970s

Key Concepts & Definitions

  • Liquidity Glut: This led to a massive " liquidity glut "—a surplus of easy money in circulation—and soaring inflation driven by oil shocks and rising raw material prices.

Essential Points

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Practice quiz preview

1. What was a key feature of the 1970s economic crises related to monetary conditions?

2. What is a key feature of the transformation of global capital flows after the 1970s?

3. What is the primary purpose of deregulation in neoliberal ideology?

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Flashcard preview

Post-Bretton Woods crises — period?

1970s economic and geopolitical crises.

Liquidity Glut — effect?

Surplus of easy money, soaring inflation.

1970s oil shocks — impact?

Caused global inflation and stagflation.

Capital controls — removal?

Led to loss of state autonomy.

Cross-border flows — 1980 vs 2007?

$500 billion to nearly $12 trillion.

Market discipline — enforced by?

Free capital movement constrains governments.

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