notes. 11.5 - value production poor countries specialize in...

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11/5—Kuruvilla - Globalization o Advantage Cheap goods- consumers More choice- consumers Development of economics Global capital International community Opportunities o Problems Homogeneity (westernization) Exploitation of workers Short term effects Race to the bottom Dependency Inequality Loss of sovereignty Stolper-Samuelson - The Debate Proponents o Opportunity, potential for economic development raise all boast, Taiwan, Korea, Singapore, Asian markets support idea o More choice for consumers, cheaper
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o Prosperity democratic; ex. Mexico, china (more than before); KOREA, ONCE BASIC NEEDS ARE MET, POPEL BEGIN TO SEARCH FOR MORE; Taiwan: authoritarian democracy; correlates with GNP/capita o External world has large influence on their monetary; can fix capital with pay, other countries make sure you manage well o Demonstrated in Asia - Critics o Stopler-Stamuelson Theorem: theory of comparative advantage forces some countries to specialize, countries which are ahead specialize in high
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Unformatted text preview: value production, poor countries specialize in low value production; in rich= unskilled workers decrease and skilled workers increase; low= unskilled increase and skilled increase o Countries competing with each other o Environmental law aren’t applied everywhere, can make more waste to other countries; ship breaking very hazardous activity o Can’t protect because it will look bad; inefficiently o Brain gain vs. brain drain; US v. franc- Champagne; can American made champagne be called champagne? India v. US Herbal meds o Cultural imperialism, ex. McDonalds-Call for Regulation Responses o Good governance o Accountability o Democratic governance-Labor regulations o Core standards—not enough, NEED more Freedom from child labor Freedom from forced labor Right of freedom-ILO standards-Models of Regulation o All have advantages and disadvantages...
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