Class Presentation1 - DAVID KAPYA GLOBALIZATION...

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GLOBALIZATION, INDUSTRIALIZATION & INNOVATION PRESENTATION ON (CHAPTER 3 & 8) 30/07/2015 DAVID KAPYA TRADE GLOBALIZATION
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The Case for Free Trade Based on the theories of Absolute and comparative advantages Without Government “interference”, nations can specialize in the production and export of a good in which its relative performance is best. Rodrik points out that the case for free trade depends on context not just on the economics of it but also political, social, distributive and judicial implications The work of Henry Martyn (1701) is highlighted, who against popular practices of mercantilism thought that imports from India were beneficial to the British economy Martyn pointed out the technological and productivity benefits that Britain Stood to benefit by allowing imports from India
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Martyn failed to acknowledge that technological advancement displaces labour as well and may result in transnational unemployment.
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