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Financialization of Education Sector and Debt Crisis

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Financialization of Education Sector and Debt Crisis

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Questions and Answers

What is the term used to describe the extraction of bank profits through direct transfers of personal revenue?

Economic subjugation

Financial exploitation

Capitalist coercion

Financial expropriation (correct)

What contributed to the deindustrialization in the North, according to the text?

The rise of automation in manufacturing

The implementation of protectionist trade policies

The relocation of production to the Global South (correct)

The shift towards a service-based economy

What is the term used to describe the potential crisis of overproduction in the 1970s?

Abundance problem (correct)

Surplus production dilemma

Glut predicament

Overcapacity conundrum

How was the 'abundance problem' solved, at least in the short-term, according to the text?

By introducing consumer credit Signup and view all the answers

What is the term used in the text to describe the integration of financial markets globally?

Financial market integration Signup and view all the answers

What is a collateralized debt obligation (CDO)?

A type of asset-backed security that pools together various types of debt obligations Signup and view all the answers

What is a subprime mortgage?

A mortgage loan with a higher interest rate, given to borrowers with lower credit scores Signup and view all the answers

What is the credit crunch crisis?

A situation where banks and other lenders reduced the availability of loans and credit Signup and view all the answers

What is the sovereign debt crisis?

A situation where a government struggles to pay off its public debt Signup and view all the answers

What is the term used to describe the stagnation of real wages in the West since the 1970s?

Income stagnation Signup and view all the answers