PLSC117_4108

PLSC117_4108 - Globalization in Trade 6:19:00 PM Increase...

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31/03/2008 17:19:00 Increase in trade since 1950.  Not an irreversible process.  Globalization can be reversed under certain conditions (has been done in the  past). o A world war or a depression.  Why trade? Gains from exchange. Classic contrary view: mercantilism. o Mercantilism stresses the importance of state powers and the dangers  of interacting with other states economically.  o Think of parallel arguments between mercantilism and realism.  Was dominant view on how state economists should be run  from 16 th  century- 18 th  century.  o Basic idea: A country’s power comes from it’s holdings in gold and  silver. (“Hard currency”) Was good because allowed you to finance military operations  and many other things with state power.  o Trade as a “zero-sum game” Zero sum—total of gains and losses total up to 0. (If I gain one,  you lose one).  Mercantilism in France under Louis XIV Jean-Baptiste Colbert, 1619-1683, Minister of  Finance for Louis XIV of France Colbert’s Mercantilist Policies: o High tariffs on foreign manufactures.  o Limitation of tariffs on commerce with  France. o
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This note was uploaded on 04/29/2008 for the course PLSC 117 taught by Professor Benjaminfordham during the Spring '08 term at Binghamton.

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PLSC117_4108 - Globalization in Trade 6:19:00 PM Increase...

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