ECOP1001 Lecture Notes - Lecture 1: Economic System, Economic Liberalism, Externality
24 Jul 2018
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Note: certain content including lecture slides and diagrams are the property of the lecturer lynne chester. Ecop = studies real-world issues by analysing the connections between economic problems, social structures and political processes. Different schools of economic thought dominate during different periods of economic history. Through mergers and acquisitions examples: myer/david jones. To reduce costs, eliminate inefficiencies, increase market share higher profits (technical optimum) Social costs job losses, consumer interests. Minimise costs and tax, find new markets, less restrictive environmental regulations (bangladesh textiles) Proliferation of fragmented productive activities and business networks across the globe with increasing interdependencies. The changes support business interest but economic and social problems (cid:858)(cid:396)a(cid:272)e to the (cid:271)otto(cid:373)(cid:859) Job creation/unemployment; higher incomes/lost incomes; skill development/skill loss. Anti-globalisation movement: demonstrations at wto, wef and g8 meetings. This often involves the loss of jobs. But new technologies are affecting sectors which took up past displaced labour. Since the ascendancy of neoliberalism (greater reign to market forces)
