Section 7

Question 1

Neoliberalism

Answer 1

free trade elimination of barriers to trade (tariffs and subsidies)
•Goods, money, labor flow freely

Question 2

Privatization

Answer 2

State or government- run industries and services
Private- Corporations
•Ex: Water, military , social security, electricity

Question 3

NAFTA

Answer 3

• North American Free Trade Agreement: US, meixco and Canada 1994

Question 4

Offshoring

Answer 4

moving service to another country = wages for locals

Question 5

Concerns with Offshoring

Answer 5

• Low wages
• Few protections for workers
• No advancement
• Volatile; job loss (race to the bottom)
• Externally oriented (does not meet local needs)
• Bottom line in race- save companies $ (low wages, few benefits, no overtime $, wave environmental regulations ect.)

Question 6

Negative externalities

Answer 6

Costs not captured in price consumers pay for good or service

Question 7

TNCs

Answer 7

• ~7000 in 1970 to ~ 78,000 in 2006
• Shareholders & profit vs. general populace
• Largely headquartered in US, W. Europe and Japan
• Impact on policy (Ex: lobbying: talking to gov’t officials about your views and trying to convince them they are good)
• ~42% of the worlds 100 largest economies are corporations

Question 8

Inequality

Answer 8

• 1980-2005, more than 80% of total increases in income went to the top 1%
• Bottom 99%
• Income of top 0.1% has quadrupled since 1979
• In 2001, top fifth held 84.4% of all wealth
• The middle fifth held 3.9%
• The bottom fifth had negative net worth- owing more than they owned

Question 9

Gender and Neoliberalism

Answer 9

• Cheap, compliant, & flexible labor
• Sometimes more vulnerable to exploitation
• Informal labor (not earning a regular wage with an employer) & piece-work (when a company sends products home for women to make)

Question 10

Double Day

Answer 10

Women often responsible for children, elderly & disabled + wage earning activities

Question 11

Farmers and Neoliberalism

Answer 11

• Displacement- loss of land
• Shifts to volatile cash crops (exports)
• Unprotected (no tariffs or subsidies)
• US and W. Europe still subsidizing ($125 billion), so products are cheaper on the global market
• Imported inputs (fertilizer etc.) expensive
• Do not have a voice
• Debts
• Climate change

Question 12

Indigenous and Neoliberalism

Answer 12

• No voice
• Loss of sovereignty
• Lands lost or threatened- timber, oil drilling, mega-dams, agriculture

Question 13

Neoliberalism

Answer 13

free trade elimination of barriers to trade (tariffs and subsidies)
•Goods, money, labor flow freely

Question 14

Neoliberalism

Answer 14

free trade elimination of barriers to trade (tariffs and subsidies)
•Goods, money, labor flow freely