SCPL3606 Study Guide - Final Guide: Autarky, Nationstates, Alfred Von Wurzbach
1 Dec 2018
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Relevance of bretton woods institutions such as the imf and wb. Economic structures- which are composed of processes and processes can be structured. Specialisation is based on the law of comparative advantage-nations should concentrate on what they do best. Uneven development but even certain industries and social classes lose out. The world wars and gd impacted the economy. The movement of many countries in the direction of autarky or the turn inward of a nation is opposite to globalisation. Autarky refers to the turn inward of the nation state to bc as economically self-sufficient as possible. The us in the 1930s had a strong tendency towards isolationism. There was a fear to a return of the gd, the focus of planners was on reducing trade barriers. The gd was thought to be a lack of cooperation among nation-states-associated with high tariffs and other import restrictions and protectionist practices.
