Midterm - 1. Gigantic experiment in unleashing economic...

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Unformatted text preview: 1. Gigantic experiment in unleashing economic deregulation. Kein: justice and equality are the most sustainable strategies against violence and fundamentalism. Symbols that are attacked. 9/11 such symbol that means anti-globalization and anti- capitalism. Just like attack on Nike is not just an attack on a company but what it represents, its the time to get the message and do something about it. Hawken: WTO does not want to listen to those who are disadvantaged in the distribution of the prizes of the free trade. the WTO directly violates the Universal Declaration of Rights Not against trade, but against the unequal distribution of the benefits that the trade presents. Eliminates the ability of countries to set standards, express values, determine what they do and do no support. Neither ill informed not inexperienced. activists in the areas of human rights, global economy, labor practices, genetic engineering, and global economy. The 60s- American event, now- International Companies want to make trade uniform, proper question- how to make it more differentiated. Kills self-reliance in small countries/companies. We all CAN benefit, we dont all yet benefit. 1 p2. Inequality and economic development in the global economy Milton Friedman- Nobel prize, 1976. Favors free trade, open markets, and deregulation. But IMF= government intervention, which causes crises and only makes things worse. IMF loans bail out investors, encourage speculation. Solution= deregulation, limited gvmt role. Dominant ideology in contemporary era. Global liberalization, free trade, free capital flow. WTO, IMF, WB- counterproductive. Johan Norberg- 51 out of 100 biggest economies- corporations. But not taking into account it is sales vs GDP. Should compare profit, not sales. Small Sweden twice as large as Wal Mart. All industrialized countries bigger than corporations. Ppl are not forced to buy new products, they choose to. Claims: population working in firms diminishes [how does that relate to strength of firms]. Mergers- a sign of inability to survive otherwise [debatable]. In defense of free zones- better paid in comparison to native country. Not an exploitation of workers but better opportunities. Big companies sensitive to bad publicity, therefore behave responsibly. [also powerful enough to take advantage of their situation]. The right to choose a culture. Can learn from mistakes of developed countries. Claims it took West 100 yrs to develop and it took Taiwan 25 yrs. Technology. Eggs for 13 taka. Difficulty finding something authentic( Chicago style pizza in Italy). More transparent world, less hiding places for Pinochet. Jagdish Bhagwati-[supports IMF models emphasis on open markets, currency stabilization and fiscal and monetary austerity. BUT opposes capital market liberalization.] _____ Bruce Scott- arguing for more flexible approach. All rich countries developed through protectionism and subsidies. Look at case by case basis. Hypocrisy imposing a model that did 2 not work for us. Demanding access to goods and svc, but not letting have any of ours. Yes, not work for us....
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This note was uploaded on 04/04/2008 for the course ILRIC 4330 taught by Professor Turnerl during the Spring '06 term at Cornell University (Engineering School).

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Midterm - 1. Gigantic experiment in unleashing economic...

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