CDAE 002 Study Guide - Final Guide: Agricultural Biodiversity, Intensify, Smallpox

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CDAE 002
EXAM I REVIEW
Test on February 20, 2013
created by Stephanie Marandi
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(Life and Debt film, Sustainability Anyways, and Economics in A Real
World are not included in this study guide)
Paradigms of Development
Capitalism- Individuals freely acting out of self interest (maximize pleasure, minimize pain)
---> Free Markets:
-prices reflect scarcity/value
-restricted govt role (improve business climate)
-establish a system of money and credit
- enforce contracts
-facilitate international trade
---> Malthusian
-Humans will not be able to offset their consumption of resources
-Good life not attainable at all
-Life boat strategies! (Rationing/immigration/population policies)
---> Government Intervention (Keynesian Economics)
-free market is prone to instability (Great Depression)
-free market generates externalities distorting investments and avoiding feedback
-system tends to become a monopoly
-need for enlightened govt regulation
---> Neo-Liberalism
-set of economic policies that have become widespread in the last 25 years
-liberal in the sense of no controls
-“neo” in a post Keynesian sense (ie, reduce govt intervention in markets)
---> Ecological Economics
-Economic systems based off of ecosystems
Main Elements
-Reflect the market
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-Cutting public for social services
-deregulation
-privatization
-replacing the idea of the “public good” with “individual responsibility”
Radical Political Economy
Dependency Analysis, we see:
-Third World/Developing nation underdevelopment is a direct result of First
World/Developed nations (overdevelopment) roots lie in colonial history
-core/periphery
-exchange relations (sell commodities, buy finished goods)
Marxist economies, we see:
-Government control and ownership of key industries
-production relations - centrally planned economies
-often use ration-based systems
Millennium Development Goals
I Eradicate extreme poverty and hunger
II Achieve universal primary education
III Promote Gender equality and empower women
IV Reduce child mortality (prevent pneumonia, diarrhea)
VI Ensure Environmental Sustainability
VII Combat HIV/AIDS, Malaria and other diseases
VIII Develop a global partnership
Measurements of Growth
GDP: Gross Domestic Product, the sum of value added by all resident producers in the economy
HDI: Human Development Index, composite statistic of life expectancy, education (literacy
rate) and income, etc indices to rank countries into four tiers of development
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