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Lecture

march 18

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Department
Geography
Course
GPHY 228
Professor
Prof.
Semester
Winter

Description
Nation states are still very important, but rescaling Upscaling: WTO, IMF, EU. How can we take advantages from the expansion.  Downscaling: sub­national, local power also becomes more important  Rescaling of global economy is also the rescaling of the government.  NAFATA: Beyond individual countries.  Upsides  Why would states want to integrate?  1. larger markets: make more money  2. trade creation: free trade with other countries  3. strategic and security benefits: Mexico, Ex, is more smaller than US and Canada,  to make itself safe  Why would states not wan to integrate? Belongs to a larger group, Loss of cultural traditions  Inequalities: Ex, Mexico, smaller, US is producing at a larger scale, US benefit more  than Mexico.  Downsides Many cities get stronger, even than the nationals Governments at 300 cities have gain a lot of power.  Global city – regions, more competent, very little limitations from the nations, but  more rely on themselves and become independent.  Whither the Global Economy? Important questions:  Is the capitalist system sustainable? It is not sustainable.  3 areas:  1. Inherent tensions in capitalist system itself:  How that wealth is being distributed. Inherent problem: profit is central theme of capitalism, but if you stop produce stuff,  it’s the end. You have to invest in more and more capitals to make profits.  A healthy capitalist economy: if below 3 percent,  for capitalist to sust
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