The Debt Crisis Of The Early 1980s

A clear factor in the staggeringly high number of femicides is the economic relationship between the multinational corporations who own the maquiladora plants and the economic policies in place that established this ownership at the same time as the femicides began to occur in the mid-90s. Neoliberalism spread so easily as it was a bipartisan movement that swept the United States. This lead to the signing of NAFTA, where now “Ciudad Juárez is also an emblematic place of economic globalization and neoliberalism, with its insatiable hunger for profit” (Fregoso and Bejarano 70). This hunger for profit is a neoliberalism view, where there is a disregard for the consequences of cheap labor and how that devalues someone. Juárez is now a symbol for what can happen when the interests of one particular market far outweighs the other.

We as americans seem to have a very serious problem. By doing some research I have been able to conclude some intresting ideas on what to do to fix our debt problem. First of all we need to stop bwing in wars, the more that we lose the more that we are going to be hurt and deeper in the hole of debt we will go. Second we need to stop paying our RETIRED U.S. presidents so much money it's not helping the fact that they get so much. We need to also need to stop buying so much imported goods. If we can accomplish these simpe tasks we can fix a lot of our debt problems and be a better country.

During presidential bids for the White House and Congressional deadlines for increasing the debt ceiling, huge debates break out as to the enormous amount of debt incurred by the federal government. Throughout our nation’s history, national debt at this magnitude is a new things. The accumulation of this amount of debt has its consequences, especially when the debt hits the nations GDP (Gross Domestic Product), or the revenue the nation takes in per year.

The American debt clock sits at around 20.5 trillion dollars today, but when I.O.U.S.A was made America’s debt was at 8.7 trillion dollars. Obviously the United States debt is an ongoing problem that will one day implode and every single U.S. citizen will have to deal with it. America’s debt was initially caused by war, and more wars over the years made it increase and decrease. There has actually only been one time that the United States has had no debt, January 8, 1835. The debt of the nation cannot be blamed to any specific party, because the republican party and democratic party have both played a role in increasing the nation’s debt over the years. There are four major things that contribute to the debt: Budget deficit, saving

Corporations mainly from the United States, establish the maquiladoras along the Mexican boarder and other parts of Mexico, but along the boarder makes it more profitable for United States corporations and even the Mexican government. Within this globalization these women working in maquiladoras are refer as a commodity that provides much higher capital for corporations. All these maquiladoras end up wining in every aspect, while the women workers suffer cruel consequences from illness, unjust working conditions, and even their communities having a negative impact because of the waste maquiladoras release to the public environment. By looking at these issues in a sociological perspective, it can be notable of the inequality, the severe working conditions, and how all women are affected in the global society within the maquiladoras.

The financial crisis that happened during 2007-09 was considered the worst financial crisis in the world since the great depression in the 1930s. It leads to a series of banking failures and also prolonged recession, which have affected millions of Americans and paralyzed the whole financial system. Although it was happened a long time ago, the side effects are still having implications for the economy now. This has become an enormously common topic among economists, hence it plays an extremely important role in the economy. There are many questions that were asked about the financial crisis, one of the most common question that dragged attention was ’’How did the government (Federal Reserve) contributed to the financial crisis?’’

This week’s reading, “Perspectives on Globalization”, and the film, “Maquilapolis: City of Factories”, both show how maquiladoras take advantage of cheap labor in Third World countries. The reading says, “These imperatives, coupled with inexpensive labor and other lower costs in Third World Countries, as well as technological innovations that make it relatively simple for manufacturing plants to shut down at one sit and re-open at another…” (289), companies will open up maquiladoras in one country for a while and then leave to another country once they find even cheaper labor. This is shown in the film when maquiladora worker Carmen Duran speaks about how Sanyo, the company she worked for, shut down their factories and left Mexico. Carmen

Many economist view this current student loan issue in the same realm as the home mortgage crisis. In 2008 The mortgage crisis put the American economy into the biggest recession it had seen since the “Great Depression”. An economist by the name of John T. Harvey is highly regarded for his work in economics. Harvey attended the University of Tennessee, where he received a doctorates degree in economics and political science, and has now taken on the role as a Professor of Economics at Texas Christian University. Harvey wrote an article published on Forbes.com titled “Student Loan Debt Crisis”, where he breaks down the main intricacies of student loan debt.

Exploitation and gendered labor is an ever-present issue that has presented itself in nations across Latin America as well as globally. One of the ways in which this is clearly visible is in the maquiladora industry, large-scale export-oriented factories that dot the landscapes of many Latino countries. Multinational corporations such as Nike, Panasonic, and Zenith, all set up shop in areas beyond the border as a means of avoiding many restrictions when it comes to taxes and trades. Furthermore it allows these large conglomerates to avoid having to pay more for labor than they would say if they were in areas of the United States or even parts of Western Europe. Mexico in particular, is one nation that is home to more than one-point-two million men, women, and children, all of whom work in these factories as a means of attempting to survive and make somewhat of a living . Maquiladora workers are infamous for not only their terribly harsh working conditions and extremely low wages, but also for the way in which the dynamics of these factories work, in terms of gender and treatment because of this. Approximately forty-three point six million women, seven-point-five percent of the world’s employed women, are paid domestic workers, a number that is most likely not accurate either because of the nature of the work . In maquiladora work alone, approximately eighty percent of the labor force is young women . Behind this gendered percentage is a series of causes and consequences as

During the 1950s and 1960s, Europe experienced a period of prosperity. Harold Macmillan gives a sense of just how well these times really were when he says, “Let us be frank about it: most of our people have never had it so good,” (Judt, 324). As political parties moved more towards a common center, rather than towards extremism, a rebirth of democracy was created, underlined by growth and full employment. The support for social democratic ideas flourished along with the prosperity of the 1950s and the 1960s in Western Europe. This time was characterized by conservative individualism and economic growth through regulated capitalism (Mazower, 327). With the help of the Marshall Plan, a global

After the 1997 Financial Crisis, Washington Consensus was critiqued for being relied too heavily on market fundamentalism, the belief that markets by themselves lead to economic efficiency and that economic policies should focus on efficiency—distributional concerns could and should be taken care of elsewhere in the political process—more moderate advocates of Washington consensus policies deny the charge. To a large extent, that debate, like the debate over the nomenclature ‘the Washington consensus’ itself, is beside the point. The policies pursued by the international financial institutions which came to be called the Washington consensus policies or neo liberalism entailed a much more circumscribed role for the state than were embraced by most of the East Asian countries, a set of policies which (in another simplification) came to be called the development state.

What is the European Debt Crisis? The European Debt Crisis is the failure of the Euro, a currency that ties seventeen European countries together. In this paper, I will be describing the cause and effect of the debt crisis along with what would happen if the European Union stayed with the economy they have. Then what I believe is the best solution to fixing the debt crisis.

This paper is mainly focusing on the historical background and causes of debt crisis in late 1970s and 1980s.

Although it is right that globalization promotes free trade among the states and unites them, but there are also negative outcomes, which states whether rich or poor try to protect their own interests? These negative outcomes of globalization have made the dependency theory significant in describing the state of affairs in the present world. Poor countries attempt to protect their national markets and become self-reliant (Hewison, 1999). Self-reliance can be seen as supporting a strategy of controlled relations with the world economy. Poor nations should only approve relations on the condition that the relations will enhance the societal and financial well being of the larger population. However, endeavour by the peripheral states to oppose the impact of dependency can result in results in financial sanctions and/or military attack (Sen, 2010). One example of such resentment against globalization is “localism“that surfaced during the financial crisis in Thailand (Hewison, 1999). Localism is an illustration of populist response to the changes and disparities created by globalization. Localism gained substantial energy from the Thai King’s speech in 1997, where he recommended a self-contained economy to counter the negative effects

The relationship between Export Processing Zones (EPZs) and globalization, Neoliberalism, global governing institutions and the 1980s debt crisis has attracted a lot of debate in the economic circles. It is widely believed that EPZs have helped in the development of the globalization project. Economists believe that the rise and growth of EPZs was enabled by the neoliberal strategies that global governing institutions such as the World Bank and the IMF instituted after the 1980s debt crisis in Latin America. In his book titled “Development and Social Change”, McMichael deals with critical events that led to globalization. These include Neoliberalism, the debt crisis and the rise of export processing zones. This paper will investigate these interrelationships and conclude that there is a key relationship between EPZ and the globalization project, and the rise and growth of the EPZ with the neoliberal actions of key global governing institutions especially after the 1980s debt crisis.