INTS 1500 Study Guide - Midterm Guide: Bretton Woods System, Countervailing Duties, Primitive Accumulation Of Capital
2 Feb 2017
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Document Summary
First example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. It established fixed currencies as well as a few floating currencies pegged to the dollar. Restraining trade through tariffs and restrictions, designed to allow fair competition between imports and goods and service produced domestically. Methods: voluntary export restraints, product standards. Regulations pertaining to health and technical safeguards: anti-dumping measures, countervailing duties. Those that have a ca in something will benefit from it. Does not always lead to economic growth. Ca is not static firms can learn to be more efficient through things such as technology. Limited laissez-faire: gov"t shouldn"t do anything to decrease tax, gov"t has a role needs to tax profits so we continue to provide public/common goods. I need a bigger and bigger slice of the pizza at someone else"s expense: smith thought this created slow progress, gov"t would order control through trade then tax it all.
