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February 9 MOS Lecture

February 9 MOS Lecture - February 9 Lecture The ABCs of the...

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February 9 Lecture The ABCs of the Global Economy - In 1960s US corporations changed the way they went after profits o Free trade/over-seas trade - Prior to 1960s, free trade helped US and hurt workers in poorer countries - Corporations changed their approaches after they realized their jobs were hurting over-seas - During 80s and 90s, corporations shifted internal institutions to enable corporations to better operate in the global economy o IMF, MAI, TRIMS, WIPO, TRIPS, WUO, ISO, ILO - World Bank and IMF: o Concerns because influence and number of votes is based on how much money is contributed – smaller countries/economies have less influence o Structure: biased, people on top are American’s and European’s o Lack of concern for financed projects: environmental, social o Loan terms force recipients towards free market models preferred in West - MAI, TRIMS, and the International Movement of Capital: - 1997 – wealthy nation created a “bill of rights” for investors called the
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