PSC 412 Lecture Notes - Lecture 6: Doha Development Round, Aggregate Demand, Money Supply
5 Oct 2016
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Means your country has investment & you have money. Trade surplus is bad; people have no money; look at all the pictures to see the overall pictures: policy options. Trade wars & increased prices; during the depression, making gdp to decrease and everyone else to put up tariffs: fiscal monetary theory. Taxes = raise taxes so they stop spending so much. Prices go up / competition for goods! Demand (raise demand) cut taxes & raise spending! Monetary: gatt general agreement on tariffs & trade. International regime extending free trade; to do this through trade rounds; number of states agreed upon. Reciprocity (doha round 2001); failure removed subsidies; if not, then no agreement between the two in discussion. 1995 wto (world trade organization); 153 members now; Countries do not see it as good thing. Judicate to settle disputes during discussions and agreements. Every country has a vote; rounds must be unanimous to pass! They can say no; this is very democratic.
