POLB81H3 Lecture Notes - Dual Economy, Comparative Advantage, Transnationalism
16 Apr 2013
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Institutionalism: for the most part we are talking about business elites. They are saying that it can"t solve these problems. Global capital is not going to solve these kinds of problems. They talked to business elites and they said that. Global capitals: maybe institutions isn"t the right way either. It could also be the needs to go beyond institutionalism. This is an example of limnality: state of being in between. We have a pretty vague idea of what is going to work. Most elite of the elites being not exactly sure what the way is forward. But the notion of global governance is going to evolve. Productivity: high productivity translates into high income standard. The increase in capital stock is called investment. The level of investment is related to the savings account of a country. A higher saving rate increase productivity and income but not necessarily human investment.
