INTL ST 14 Lecture Notes - Lecture 8: Neomercantilism, Mercantilism, Import Quota
26 May 2016
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Document Summary
A set of processes that are widening, deepening, and accelerating the interconnectedness among societies. The integration of national labor markets due to the increased mobility of workers. The money earned by immigrants that is sent to family members still living in their home countries. A manufacturing process in which finished goods are assembled form components produced in multiple countries. The increasing transnationalization of national markets through the worldwide integration of capital flows. The attempt to promote trade surpluses through policies that cause other states to suffer trade deficits. A principle for trade proclaiming that goods produced at home and abroad are to be treated the same for import and export agreement. A seventeenth-century theory that trading states should increase their wealth and power by expanding exports and protecting their domestic economy from imports. An economic theory advocating free markets and the removal of barriers to the flow of trade and capital.
