Political Science 2231E Lecture Notes - International Political Economy, Bretton Woods System, Indium
27 Feb 2013
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Document Summary
Depletion of indium - the mineral used for lcd and touchscreen displays. Modern day gold rush re: discovery of indium in the uk. May 2010 - 9th worker death at the iphone firm foxconn . July 2010 - foxconn shuts indian plant as 250 staff fall ill . Sept 2012 - foxconn halts production at plant after mass brawl. Mercantilism: belief that power and wealth were closely connected in the 17th and 18th century. Trading become more valuable then agricultural production. Economic liberalism: fathered by adam smith; free hand guiding economic trade. Laissez-faire: the idea that government intervention was bad. Reciprocity: all trading agreements must be reciprocal; treating each country equally. Interdependence: need countries to rely on each other and trade. Recardo believed specialization would allow nations to make things for less money and therefore eventually make it much more efficient then its competitors. Trade barrier: any government limitation on international exchange of goods.
