GLOBAL ECONOMY AND INTERDEPENDENCE

GLOBAL ECONOMY AND INTERDEPENDENCE - GLOBAL ECONOMY AND...

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GLOBAL ECONOMY AND INTERDEPENDENCE (PART 1) OUTLINE A. WHAT ARE ECONOMIC INSTITUTIONS? B. ECONOMIC SYSTEMS IN THE WORLD: 1. CAPITALISM 2. WELFARISM 3. SOCIALISM C. THE GLOBAL ECONOMY IN TRANSITION D. INTERNATIONAL TRADE AND THEORETICAL DISCUSSION E. HEGEMONY F. EVOLUTION OF THE WORLD ECONOMIC SYSTEMS A. WHAT ARE ECONOMIC INSTITUTIONS? SOCIAL ORGANIZATION OF PRODUCTION, DISTRIBUTION, AND CONSUMPTION OF GOODS AND SERVICES IN A SOCIETY C PRODUCTION OF GOODS C DISTRIBUTION C CONSUMPTION B. ECONOMIC SYSTEMS IN THE WORLD 1. CAPITALISM 2. WELFARISM 3. SOCIALISM MEANS OF PRODUCTION ARE OWNED BY THE STATE PRODUCTION FOR USE NOT PROFIT NO SOCIAL STRATIFICATION STATE IS RESPONSIBLE FOR BASIC NEEDS C. THE GLOBAL ECONOMY IN TRANSITION 3 PRIMARY SECTOR i. Farming, fishing, mining, natural resources 4 SECONDARY SECTOR ii. Manufacturing 5 SERVICE SECTOR
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iii. service 6 QUATERNARY SECTOR iv. Information technology D. INTERNATIONAL TRADE 1. LIBERALISM ADAM SMITH MARKETS EVOLVE THEMSELVES INTERNTIONAL TRADE LEADS TO COOPERTION 2. ECONOMIC NATIONALISM ECONOMIC ACTIVITIES AND STATEBUILDING NATIONAL SECURITY IS MORE IMPORTANT THAN TRADE MILITARY 3. MARXISM CAPITALISM AND EXPLOITATION SELF DESTRUCTIVE DEPENDENCY THEORY 4. COMPARATIVE ADVANTAGE 7 Its better to produce goods in other countries if it lowers the cost of production. DAVID RECARDO (19TH CENTURY)
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GLOBAL ECONOMY AND INTERDEPENDENCE - GLOBAL ECONOMY AND...

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