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SOCU2112 Global Political Economy

Published : 09-Sep,2021  |  Views : 10


How did Keynes and Hayek differ in their views on how the economy should be managed Name one Australian policy that is based on a neoliberal approach and one that is based on a socially democratic approach.

1. How does Klein understand the term ‘shock doctrine’, a term also used in Commanding Heights Name three case studies that she cites.
2. What does Klein mean when she describes states as being ‘corporatist’ (p. 15) For Hedges, what makes capitalism ‘apocalyptic’  What are the core elements of the plan outlined by Allen in the six dot points on pages 191-192 Why does Allen argue that socialism is more ‘efficient’ than capitalism What reasons does he give for this
3. Schuman argues that ‘China has not been a workers’ paradise’. Why is this the case
4. What does Fisher mean by the term ‘capitalist realism.
1. What is the ‘race to the bottom’ (p. 199), discussed by Oatley
2. What are two ways to regulate MNCs outlined by Oatley that minimise exploitation and maximise contribution to nation states As described by Hills and Welford, in what ways does the state benefit from the manufacturing of Coca Cola in India What are the consequences In your view, do the positives outweigh the negative.


Drawing illustrations from her study she refers to the term shock doctrine as the core tactical nostrum of contemporary capitalism developed by Friedman. Where people believe that changes only come as a result of a crisis (Capitalism 2007).

  1. Highlighted case studies  

  • Actions of a professor in the University of Chicago after a crisis. The professor believed that changes in administration can only happen after a crisis.
  • General Augusto Pinochet after their country had faced severe hyperinflation adheres to Friedman ideologies and inflict a rapid change in to the economy.
  • The case of New Orleans after heavy storm is another case highlighted by Klein in his writing.

The meaning of corporatis states according to Klein

 According to page 15 of Klein’s writing corporatis states are states where boundaries cannot be define between the government and corporate societies (Capitalism 2007). Corporatis states are states where only a few people benefit from the wealth of the country as a larger population outside the bubble languish in great poverty. Trading favors and contracts are only given to billionaire corporates but not minor citizens.

What makes capitalism apocalyptic according to Hedges?

Hedge in his work talks of several factors making capitalism apocalyptic:

  • Lack of rules to guide exploitations of natural resources.
  • Wars in various countries as people fight for themselves to benefit from various natural resources (Christopher 2015).
  • Allowing corporates to create business ways of natural resources exploitation while defying environmental regulations.
  • Creation of various ways which allow corporate societies to drive forward with their exploitative ideas.
  • Capitalism is apocalyptic as few individuals exploit the earth for their personal gain.


Capitalism, D., 2007. Klein, Naomi. The Shock Doctrine: The Rise of Disaster Capitalism. Toronto: Knopf Canada, 2007. 672 pages.

  Christopher, D., 2015. The Capitalist and Cultural Work of Apocalypse and Dystopia Films. Cineaction, (95), pp.56-2.

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