SOC 472 Lecture Notes - Lecture 8: Soltyrei, Agribusiness, Offshoring
7 Dec 2017
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Document Summary
It became the dominant political philosophy of many countries across asia, eastern europe, africa and. Ussr and china: ussr, vladimir lenin is the main player in the 1917 bolshevik revolution, revolution lead to institution of communism. Stabilizing the economy is possible if you stabilize prices (keep them from going up or down) Western europe: europe was a mixture of capitalism and socialism, governments owned and control large major industries such as the british owning the coal industry. Usa: the usa was a free market economy that was heavily regulated in some areas of the economy, the airline industry is a prime example, this eliminated competition, guaranteed the industry was profitable and stable. It robs people of their wealth: hayek was against socialism. Trade deals: north american free trade agreement. Investments that use to be focused within each country now went across the boarder and invested in foreign countries. From 1970-2003, the textile: workforce dropped 60% in g7 countries.
