POLSCI 2J03 Lecture Notes - Economic Nationalism, Industrial Revolution, World Trade Organization
15 Jan 2014
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Picture of settler and aboriginal exchanging furs for other (trade) Picture of adam smith, published the wealth of. Direct response to economic nationalism, since it was the dominant way of thinking about the world and the way it worked. Put together a liberal critique, that was launched at economic nationalism. 1800s (england is going through the industrial revolution these political principles gained strength and traction, begins a process of spreading these principles throughout the world. Whereas the economic nationalist was stressing a world of conflict, the liberals are more likely to focus on cooperation. Whereas economic nationalists are concerned about the way in which the market operates, the liberal approach sees a great deal of benefit in the functioning of markets. The view of markets is that they can be the most efficient allocator of resources. The market in the process of supply and demand will make better choices than the states.
