INTRO 5: 1970s - ? = Financial capitalism

Stagflation (stagnation & inflation)

first time it happened, because usually there were only one of them, not both at the same time.

Kaynes

Consumption drives the ecnomy and should be sustained by strong public spendings.

Rust Belt

Factories were located in the mid-West and in the North. They were slowly falling to dust & were abondonned.

Derugulation

retreat from gov intervention.

Symbol of this period of deregulation is Ronald Reagon: "gov is not the solution it is the problem".

Happened in many sectors, like finance. Subprime crisis happened because of deregulation, bc the gov intervention was restricted.

1978 Airline deregulation Act

An increase globalization of the American economy. It did not start in the 1970s, there were important exchanges before.

Off-shoring

Délocalisation. Sending the production away where they are produced.

Rise of gig economy (2000s-2010s)

online platforms that connect producers & consumers to have a service, like UBER)