POL SCI 20 Chapter Notes - Chapter 6: Party System, Absolute Advantage, Factor Endowment
Document Summary
What"s so good about trade: trade is driven by the benefits of specialization, modern societies are based on specialization and trade among people with different specialties, adam smith argues for specialization and the division of labor in. Different in policies within a country: most developed states are protective of agricultural producers, developing nations protect manufactured products more than farm product. The domestic political of: steel is typically protected in developed nations. Appellate body: us is most frequent defender but usually abides to wto rules, compliance because it is more likely to be a complainant ix. Mercosur/southern common market are other trade organizations with regional membership: some believe regional organizations help mediate or avoid divisive trade policy, some believe they limit trade with nonmembers xi. Some believe the wto is too pro-business and privileges international corporations over other interests: biased rules with disregard to other policies (social, environmental, health, etc)
