Political Science 2231E Chapter Notes - Chapter 9: International Trade, Oligopoly, Comparative Advantage
28 Apr 2019
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What are some general concepts: production, commodity: anything sold/traded as a good or service in any market (commodification, comparative advantage, export-out = profitable. State-run/command: state decides all economic production, etc: 2. Free market: private property & businesses: 3. Mixed economy: some control by both states and private businesses. Nigmendra narain, poli sci 2231e, 2018-19: page 2 of 5. Are there trade patterns: first world, agriculture: heavily subsidized open to global market vagaries, differentiated goods: higher prices and profits. Instability and low-end production: rise of organized crime. Informal/illegal economic opportunities: resurgence of the authoritarian state, centralization and bureaucratization, enforcement of imf rules, etc. Increase foreign aid to 2% of gdp: downfall, globalization, non-state actors: mncs, competition: investment and market access. Labour: unequal: need knowledge and expertise for representation. Ineffective: enforcement: us & eu does not comply with rulings, 2 rules: india and china patents are not upheld, countervailing duties not feasible, western corporations: use home state against third world via wto.
