Economics 1400 Lecture Notes - Dienstag Aus Licht, Bevor, American Revolution
3 Feb 2014
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External barriers have to be overcome in order to enable countires to open their economies (profit from work force allocation, ) Reflection: one world- one government one president of the world: policies, laws, norms that reflect local preferences, traditions . Agenda: the rise and decline of empires, europe and its offshoot in the industrial revolution, the disastrous global fragmentation in the 1930s. Interesting: systems of transportation were built; invented paper money, invented route stops: bad effects: black death was brought through trading groups, voyages of discovery / colonialisation(innovations of finance: Increasingly integrated world economy: trade as a shared of gdp rises o, savings are shifted from gb to the rest of the world o. Repetition: history of globalization is story of persuasion of power (not power of persuasion) (cid:0) security, oversight (governance), and poli, technological advances by themselves are not sufficient. Innovation and finance have been very important to deal with the need for capital
