W4 lecture - WEEK 4 How do we explain underdevelopment? Who...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
WEEK 4 • How do we explain underdevelopment? • Who were the winners and losers from free trade? • Economic Consequences of WWI • The new corporations
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Set the channel: 53 Press GO (non-LCD model) or CH (LCD model) The light will flash red/green : The light is on the left (above 1/A) in non-LCD models and on the right above 3/C for LCD models Press 5 then press 3 Press GO (non-LCD model) or CH (LCD model) The light will be a steady green Don’t press any more buttons until it’s polling time.
Background image of page 2
Heckscher and Ohlin Patterns of trade Tried to explain national patterns of comp adv Countries have different endowments of the factors of production Endowments national comp advantage and country’s production Pattern of specialization trade pattern (imports and exports) A country will export goods that make intensive use of the resources it has in abundance
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Stolper and Samuelson Who is helped or hurt by trade • Free trade is beneficial for producers of exports , while it can be harmful for producers that compete with imports . • Trade makes the national owners of a plentiful factor of production better off and the owners of a scarce factor worse off. • The politics of free trade: Protection helps owners of a nationally scarce resource; trade helps owners of a nationally abundant resource.
Background image of page 4
Africa and The Americas under colonialism
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Triangular Trade
Background image of page 6
COLONIALISM: Did it help or hinder economic development? “Little more than organized
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 19

W4 lecture - WEEK 4 How do we explain underdevelopment? Who...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online