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Noortje
Nina
Lacey
Roos
Dana

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Arnoud
Filipa
Evelien
Marit

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What is the connection between Neo-liberalism and Globalization? 

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What is the connection between Neo-liberalism and Globalization? 

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Do you have any specific examples of this relation?
- No protectionsim (import tax/ export subsidies)
-Politics of debt relief in the 90s/00s
- New international division of labour
- Neo-colonialism
- Compartmentalism ('We should' does not mean 'we will')

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- Investment depends on expected profits, and in order to make these expected profits favorable, the government should stimulate the economy through monetary policies and adjusting interest rates, which generate higher employment rates.
- During The Great Depression of the 1930s, government spending rather than private investment was crucial in reviving the economy

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How do you think culture and the position of the individual (human ideal/image) was influenced by neoliberal discourse? 

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How do you think culture and the position of the individual (human ideal/image) was influenced by neoliberal discourse? 

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Barbara Kruger: Transforming the legendary phrase "I think, therefore I am" by Rene Descartes (relating to living a meaningful existence and proof of existence) into "I shop, therefore I am". The 'I' in this artwork makes the observer feel like they are the most crucial entity, hinting towards individualism, which can be related to neoliberalism. Has neoliberalism pushed us towards defining ourselves through what we own, rather than through what we think? An increased focus on what we have rather than what we are? If so, what influence does that have on the course of international development?

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Neoliberalism: The story of a big economic bust up | A-Z of ISMs Episode 14 - BBC Ideas

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What development within your life currently has the biggest impact? 

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What development within your life currently has the biggest impact? 

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What kind of effect do you see of neo-liberalism on development? 

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What kind of effect do you see of neo-liberalism on development? 

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What are the critiques on neo-liberalistic thinking when looking at development?

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- Decrease of economic growth (stagflation leading to higher unemployment rates) and disappointing results in Global South after first decade of decolonization
- 'Unwanted' revolutionary events like black's emancipation movements, anti war demonstrations and challengers (hippies) of the consumer society
--> (Actual reasons for higher unemployment rates and stagflation: OPEC doubling and redoubling crude oil prices in 1973 and the baby boomer generation entering the labor market.)

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What are your feelings about the constructs of Keynesian, Neo-liberalism and Globalization?

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Decoupling thesis

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Very plainly said; the Keynesian theory thinks that the government government should play an important role in guiding economic affairs. Especially in times of inflation and stagnation within the economy, the state should counteract and invest. In times of economic growth, the governance should save money and create a buffer for less glorious periods.

Neo-liberalism; the main idea is that government should not regulate economic activity too much. Deregulation of the economy through the removal of trade barriers, and the increase of privatization should be at the top of the agenda. Neo-liberalists believe that economic growth is necessary to achieve human progress, which since the 1970s has led the world to become more globalized.

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In order to change the neoliberal discourse, which has increased inequality and has mostly boosted the welfare of the rich, the questions remains whether cultural change will occur before - or as a result of - a transition to something new. Through our discussions we found that most of us condemn many aspects of neoliberalism, still we realize our societies, including our everyday cultural activities, are embedded in neoliberal institutions and structures. A full change in this system, one we deem necessary in order to assure a transition that is both sustainable and just, is very hard to achieve. We all hope that our experience in the Master's program will give us the tools to offer a critical perspective in our future jobs that can influence the discourse of global development.

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- Maintaining an equilibrium between supply and demand is unrealistic: state spending cannot influence inflation or stagnation (stagflation).
- The only way to deal with unemployment is let the stagflation accelerate itself by passive economic policy
- Assumes people are self-centered and considers market investments to be spontaneous rather than possibly influenced, which is why it advocates for deregulation of the economy
- Washington Consensus and (uncontrollable) globalization: remove trade barriers
- Privatization

Addition Nina: "Assumes people are self-centered" --> relates to the assumption that people are rational, and always act out of self-interest.

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Lacey - How free is the free market of the neoliberal policy? Neoliberal view is the idea is that policy can't really influence the inflation or stagnation and that they aren't investing when a crisis occurs but neoliberal policy is in reality very intertwined with companies, and really favors certain sectors over others for profits.

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Dana: In neoliberalism, the society is based on competition. When it comes to competing against eachother. But with every negative parts of that, I also think that competition brings people to fight for something they are really passionate about and the outcome can be also very positive of that, its the source of innovation and inspiration for others.

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Marit: Structural Adjustment Packages; or development projects geared towards commodities that could be beneficial for European trade or should comply to their standards (e.g. producing organic) with regards to foreign aid for farmer livelihoods

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Is climate change a climate issue or a political issue? (through neoliberalist policy)

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Using the dollar poverty line or the ethical poverty line gives another view on how the worldwide development around food security is going through international development cooperation, where throughout using the ethical poverty line the worldwide poverty has actually grown. How is neoliberal policy helping this then?

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Decoupling thesis - China now is for 70% dependent of its market supply and demand for 70% from emerging countries and not so much from the United States, multipolar economies are created. Sub-Saharan African countries are now for example new frontiers for business.