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Lecture 3

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Wilfrid Laurier University
Global Studies
Timothy Clark

GS101 Week 3 Lecture 1 RECAP:  Binary Thinking (North=rich, democratic, South=poor, backwards) but years ago it was reversed  Rise of Capitalism – revolutionary transformation in society, technology etc. science advances we live in revolutionary era always pushing limits “definitive watershed moment” The Globalization Debate  Theory of Comparative Advantage Foundation of international trade and immigration David Ricardo “On the Principles of Political Economy” 1817/ two countries join for trade both will strive neither will not benefit. Question: if they can produce the product themselves for cheaper why trade at a higher pricespending less to have same thing with use of trading Basic theory of international trading= trade with what you do best, your specialization Developing country that trades grows more than 1% per year while one that doesn’t grows less than 1% per year. Trade causes economic growth which drives poverty declination Create wealth=fewer poor people, more economic growth less poor in turn more willingness to global trade ****Globalization is reducing in equalization among people  The Capabilities Approach to Development o From National Development to Human Development. Growth makes lives better, increases their happiness/living standard. o From income to capabilities: centrality of freedom to achieve well-being depends upon peoples capabilities to define and shape their lives/ prioritize functional capabilities (substantive freedoms freedom to get education, but also barred due to other factors such as cost) o Key components in Assessing Capabilities: the multivariate nature of happiness; balance of materialistic and non-materialistic components of welfare; concern for the distribution of opportunities= as income rises mental health issues rise Wealth that is not distributed in equal way does not benefit entire country Globalization has improved, life expectancy has increased, yet Global Literacy has fallen (female literacy fallen fastest rate). Education level over 60% in developing world had no formal education yet today dramatically changed now people with no education has fallen to 20%, drives Human development, and growth. OPPORTUNITY IS GROWING ALMOST EVERYWHERE IN THE WORLD!  Capitalism As Revolutionary Opportunity o Revolution “a radical and pervasive ch
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