ISS 210 Chapter Notes - Chapter 3: Hard Power, The Great Transformation (Book), Global Governance

• School: MSU
• Department: Integrative Studies Social Sci
• Course: ISS 210
• Professor: Monir Moniruzzaman

Document Summary

Debt affects decisions that people make (ex: when or if to marry, have children, etc. ) Fueled a thriving international trade in human organs. Gdp gross domestic product amount of goods and services sold each year. Question 3. 1 how is money created and why must modern economies perpetually. Money is important because it is the only thing we can use to get what we want or need. Commodity money the use of objects as the value of exchange: problem: there could only be as much money as there was of the commodity. National debt a debt accured by taxpayers as the cost of government. The money is created out of thin air. The more things people must pay for, the more the economy grows: for an economy to grow, there must be a constant transfer of things and activities into the world.