POL SCI 124C Study Guide - Quiz Guide: Global Governance
12 Apr 2018
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Critics view that g creates poverty is misguided> g is actually a cure. Government and businesses as defenders of g have not been persuasive. Not put forth the liberal case - individual choice to pursue own goals (individuals know best) lead to international economic integration. Markets create competition and prevent companies from running the world by profit, site. Government regulation of markets would past on costs to consumer and increase of societal advancement poverty in the third world while giving companies bigger profits. Disabling markets would have dire economic and political consequences. Developing world workers actually benefit more from trade than their richer-country counterparts. Increases wages (more than local wage), demand for labor. Problem with isi (imported substitution industrialization) (1) produces anti-export bias that is variable between industries (2) corruption: illicit activities and incentive to bribe. If all dev countries tried to growth through trade lower, price of exports would be driven down in world market.
