MAN 3025 Lecture Notes - Lecture 4: Per Capita Income, Environmental Degradation, Free Trade

• School: University of Florida
• Department: Management
• Course: MAN 3025
• Professor: Professor Archambeau

Document Summary

Trade to expand economies and lower costs. Access to things you don"t necessarily have where you live (bananas, vanilla) Shrinkage of time and space as air travel and the electronic media have made it much easier for people of the globe to communicate with each other. Technology is key in changing the rates of globalization. Low transportation costs which facilitate movement of people from country to country promoting a convergence of consumer tastes and preferences. Increasing tendency of the economies of the world to interact with one another as one market instead of many national markets. Where the growth is happening is continuously changing. Who"s producing what for the world changes constantly. Rise of small, fast moving firms (mini firms) Jobs in advanced economies are being lost to low-wage nations (critics view) Some jobs may be lost, but the economy as a whole is better off (supporters view)