IGS 10a Lecture Notes - Lecture 18: International Political Economy, Hans Rosling, Washington Consensus
26 Aug 2016
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Especially in 2016 election, reassirtion of nationalism (bernie/trump/hilary rejecting free trade) Today, basics of global economy, finance, world bank and imf. Mercantilism -- world trade, like international politics, is a zero-sum game (what is gained by one is lost by another) Bring a lot in, and don"t let it seep out! Reasons to be interested in protecting industries. More associated with medieval and modern europe (how princes and kings saw economics) Mostly, we"ve moved past this- but do need to think about national wealth. Liberalism -- world trade, like international politics, need not be zero sum. Want as much free trade of goods and services as possible- don"t want to protect yourself with a fortess. Buy and sell abroad as easily as possible. Not just a certain set ammount of wealth in world. Way of expanding wealth by expanding ways people get their own ec. way. The dominant consensus in world economy for past 70 years.
