INTL 1000 Lecture Notes - Lecture 11: Corporatism, Free Trade, Microcredit
Document Summary
Free trade: believes that mercantilists are monopolists (control resources and markets, setting good prices - can behave in an unfair manner, open market where people have to compete for your business. Modified free trade: get benefits of free trade yet create something that doesn"t have the problems associated with free trade (ex: amount of resources being available, create restrictions: Top down - governments get together and try to figure how to get developing countries to develop (red cross, world bank, etc. ) Taking money from big/wealthy countries to poorer countries. A lot of money that would not otherwise be available. Bad: government to government (possibility for bad intentions through hurting lenders and the recipients) Bottom up - grameen bank or microcredit operations (creation of by yunus) Problem that most people run in to is going from world bank to government) does not come close to people who actually need money)
