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good luck notes

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what's so good abat trade?




Trade restrictions as the rule Why trade restricted?




• Whats so good abat trade Why trade?



Page 1 Int pas Review Cf Shudou • Whats so good abat trade Why trade? Trade restrictions as the rule Why trade restricted? Chinners Economic interests Losers permestic institutions what's so good abat trade? Cuhy not self suficient? Autarky: where a contry or individual produce everything they need by themselves. 'If you can more efficiently peisDon't forget about the age old question of forensic science study guide
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ue it & do it Benefits of speciali Zation: -Basis of modern society I division of later where society is segmented & specializes in an economic activity allows society to improve Wealth of nations - 2ohin verses /48000 Plday Greater productiuty = mac wealth specialization t large markets can be used å benefits large markets * The ones you don't need you trace for staff you nee Efficient specialization & division of labor benefit you in the long run & hald incentives for trade skilled a cheap labor are similar Study Studio a certain Comparative Advantage C-A which can you produce most effecently * Best when ✓ laber bet ļ product - Ability of country arm to producen good or service more efficiently than other goods & senices. - compared to themselves not others applies concept of specialization to cantries to see their CA • Absolute advantage not necessary just need to produce it best b/w the others things you can produce (produce that good the best C-A { trade * produce what youre best at & trade the rest Trade barriers impede natural process process set in way of their efficiency Ex: Tariff Tax on a good) • Free trade makes society better C Canter argument If your consumers are buying out of cantry, your producers will be hurt Exports = Jobs a good! Imports = fewer jobs. =bad! They see role of gar to set trade barriers that prohibit amperts cantries cald but you'd recieve barriers when you try to expert as well problema imports & expats would have banne most agree + cccncnc page 2 Int Pas Final Why do cantries trade for what they do. Heckser Ohlin Cot Model) facters & production *.04 model: Cantries will produce factors of which they will make intensive use of Types of factors - land have much { what kind? - labor Cunskilled) - Capital (money / technology) human capital (skilled laber) factors of endowments & production • States differ greatly • factors determine your comparative advantage what you'll a produce export CCA resarces. La Model I predicts Expert goods making use of abendant Impen goods for scarce rescurce factors Ex China & India large population unskilled labor Ex: U.S. exchanges machinery For Mexicos labor intensive exports goods. H.O. & trace .Explains broad patterns. l' Industrialized cantries = capital å skilled laber Export? Goods & services that make intensive use of endowments Developing cantries - exporting raw goods, cheap toys junskilled laboru ther Lo Economic determinant CF trade ? - Shared currency How much is my prudent worth!) - Investment o non-economic - Geographical proximity (trade mare wl neighber) - Diplomatic & military relations (trade if good relations) -Alliances Ctrade more col friends & see benefit wealth) - Domestic politics Clusiness interests, restrict trade, lobbying) than If trade is great, والية 4CCAP restrictions! CEX: U.S. pays sugar 2-3 times more global price - U.S. producers = ~1,3 billion more in prefit -was. consumers - spent ~2.3 billich mare This ~1 billion deadweight loss why inneficient people paying 2.3 cold ust extra maniey to invest or in other préducts Why higher price? subsidies & trade restrictions * Trade restrictions are the ne - that restrict imports Despite Incentives 1. protectionism . Trade barriers trade gov barriers policy to distort trade of goods Tariff Types of trade Barriers Ex: 2 cars are danestic & one imparted beth same if can't produce (domestically cheaper go to gov { tell them to impose tariff an imports then costumers will prefer domestic product ble cheaper Pче 3 Types of trach Int pas final Quantative restrictions -quotas - you can only import a # of cars Nan-tariff barriers to trade -gov regulations & policies to make domestic product more attractive than imported Barriers Cantan goods. Trends in free trade Mid - 19th century C1860-s 1914) before wwll - Great Britain - free trade - stop trade barriers 1914 - 1995 (wwl) -free trade destroyed blc cantries more protective Post 1945 - more free trade Why gov. restricts trade? 90% economist believe • General public - 60% trade barriers hurt economy trade support protectionism (barriers (+) & E) trade Barriers (+) producers ( Thefficiency - ↑ prices & sell more costumers pay more for lower quality Luinners Winners & protectinism good . Make more money for producers. protect same Losers of asce trade goods ao Losers: - Consumers of imperts Exporters - can't sell as much abroad -Greneral public hurt from dead weight Economic .H-O focuses on predicting production behavier interest I can tell us who will / won't support free trade 2 trade theories policy o stulphers Samuelson Theorem (ss). protection, benefits scarce factors, hurt. abandant actors 1 - Those who are abundant will hurt it I and make it the scarce facter Trade, benefits owners of experted facters, when you have abundance and don't I use all of it so you export it ry H.O. suggest this is the abindant facter CEX: Bangladesh shald manufacture items that need unskilled Icheaper laber is e Import capital goods capita / skilled laber will push for protectionism - people wl enskilled laber are hurt) Weakness of s-s? -pressure of industries, not just people 2 Ricardo Viner Theorem CRU) same factors of production are specific ble their industry, trade protection may be more Iconsistent within industries rather than groups. *some skilled labor may not be mobile • Economic interest may be industry specific economic level, owners of jou oun capital an example these last 2 lines Soup page 4 Int Pols final protectionism pressure can come from ? Broad groups Industry specific pressure (RV) trade o Domestic institutions & trade policy Why do some cantries have more restrictions than others? policy making & implementation o Institution and broad viso narrow interests Collection action problem (small groups casier to organize) o free rider problem as grap grows * Gor's who rely on narrow support = 1 chance of protectionism International Institutes Role of institutions an trade ? trade some facilitate trade How? Reciprocity: 2 cantries sign agreement that if one drops trude barriers other will too Most Favored nation status (MFN) ; trade agreement that one cantry will give the other the best terms that their best trade partner gets normal trade relations Cuis): similar to MEN. but called normal trade by U.S. ypes of Institutions all support free trade Global General Agreement on trade & tariffs (GAIT) 1997 •Breton Woods system : Institutional system created after ww2 I by Great Britain, us, & allies to facilitate capitalism. & free trade at international level. • IMF World Bank Helped create Bretton system o provide loans • originally purpose to give loans to contries. destroyed by natural disasters * If you join GATT, agree to reduce protectionism & trade barriers • GATT replaced by world trade organization (WTO) 1995 despute mechanisms also enforced a reduction of protection ism of Functions trade institutions .GATT & WTO ↑ trade liberation periodic Cre) negotiation "runds" Decision making? WTO - equal reting but trade decided by big economies Japan, Evrope, US on They set agenda "outside option (smaller / weaker cantries can't disagree blc don't have enough to Function withat WTO Study SOUL page 5 Int pas Final WTO & DOHA round -Doha, Gatar 2001 Clast official trade rand) - Divide between developing & developed nations - Agricultural policy • other issues? -copy right infringment - greater access to financial & telecommunication SOU other trading institutions • Regional trade agreement CRTA) • Regional 3 or more cantries • Rapid growth 489 as of 2011 •Most prominent examples - NAFTA & Mercosur Does the wto hurt the Global poor? over all welfare improving but... Others say w to hurts farmers • Lots of opposition to wTo by: - Labor groups 1- fair trade apponents who say we need fail trade not free trade -environmental groups human rights organizations () Study anarchists. Zambia South Korea Development Facters Zambia - Independent, mineral wealth, potential - people predicted good future South Korea reliant on US. Foreign aid, no ineral wealth, no optimistics for development 1964 2000's Now Zambia Now South Korea Instability i 2011 lowest living standards are of most industrialized j life expectancy 81+) If everyone. O Geographical Regions wants to grow Why is Climate region pattern? Deseases? development hard to lo other facters? arress to water ports j isolated places achieve ! But ... not always the case Zambia & Botswana - Same geography rely on mineral wealth, Zambia is poor & Botswana is doing well 2 Domestic factors Infrastructure basic necesities for social & economic activities transportation, school, etc property rights/laws- more incentive to invest Why doesn't gov. provide this? expensive - weak gov. Incompetent for - competing incentives Study SOUD page 6 Int. pots. Final 3 Domestic Institutions How might this matter? - Broad us. narrow interests • Certain factor endowments mono-economiese don't develop like others do - gor believes they don't have to develop as. long as they make sources happy Coil, aid, etc) they'll be fine . Don't see need to prute et population & development * Rely on sources for wealth Resource curse" L Blame A Shared Interests rich LoRich & LDC share interests cantries. Rich benefit from selling loaning to developing contries | LDC interest: get loans from rich Invest Common interest stable international market * clash of interest : Distributional agreements • Rich benefit from cheap labor from poor contries * Rich have incentive in preventing others development If par develop a labor d & rich don't benefit Rich interests: selling , loaning cheap laborat ( Did colonialism impede development ? ol6th - 20th century : - colonial power regimes. -Divergent interests Relationship of exploitation. Colonial Restriction: If colony could only sell to imperial power • Imperial power didn't allow manufacturing & wanted extracted natural resarces sent to empire 2 types of colonies 12. Bad geography 10 hospitable to European settlers High desease A policies good geography - low desease I to extract resarces, - Incentive to invest didn't invest er made gov. there made AGRA o International economy biased? political obstacles benefit rich CEx Agricultural trade) role of institutions uneven enforcement of rules Rich contries don't reduce trade barriers & force less developed cantries into unfair agreements a •Voting rules & IMF page 7 Int Pols Final policies Renew & Politics Development Strategies Cisil of development Import export "A turn • Remedy • Foreign substituting industrialization oriented indust Foll toward globalization to the bias. aid. Import substituting Definition: reduce imports, encourage domestic manufacturing (1930-1980) * reduce reliance an imports produce at home instead Goal? reduce reliance on selling cheap products they made & wanted to stop buying & 1 production domestically Did this thragh gor policies Trade barriers Incentive people to invest by tax breaks, loans , etc - Gor provision of basic industries Human Rights Def: Rights processed by all individuals by virtue of being human - Regardless of your status as citizen in particular state - Universal - long philosophical traditions Universal Declaration of Human Rights CUDHR) o established after ww2 (1948) by un in comman stndard of achievement for all people" rforms Foundation of modern human rights parts: 1.) 4 pillars: Dignity, liberty, equality & brotherhood 2.) 30 articles a. articles 3-19 civil liberty b. articles 20-266 economic & Social equality c. articles 27-28 Rights of national & Commural Sovereignty 2 Influences Genocide convention I a. Influenced by holocaust UDHR as an aspiration declaration but didn't have into law. a. Treaties would have to be codified to sanction UDHR - Cold war dynamics interfeared w/ this process 2- Civil/political vos, economic/social / cultural rights Individual Group Treaties Rights CCCRR) 1.) International Covenant on civil & Political lao more explicit & binding bo protection of life, liberty, & freedan Icoprohibit; slavery, torture , etc force in 1979) Treaties Cont... Int Pols d. adopted by un e. Us not until F. UN Human Rights Final in 1966 (in 1992 Committee & Internatitnal Covenant o n economic, anonic, sucal social Cultral rights & SAU a. more on group rights (Ex: equal pay / equal opportunity/protection / maternity leave b. ratifying states must send yearly progress reports - 160 members us 169 in ICCRR c. U.S. signed in 1971 but never ratified it d. ICCRR & ICESCR make up the international bill of Rights Why are human rights controversial? ivariation in legal systems philosophies. & belief systems • Differing interests • Sovereignty: a gov has the right to govern the way it wants • different philosophical traditions -rights of indiv. v.s. collectivism •war on terror Why do indiv & states that care about himan rights? Why volate human righis? Incapacity, they don't have the strength to stop it or provide basic education regal protection 2 Domestic stability - repress the opposition in the name of stability 3.) National security 4.) Hold on power Ex: Stalin's 1930 purges Ex: Genocide Ex: Cultural Revolution in China B.) Why would countries sign human rights agreements ? I - Incentives I a.) Newly democratic stat es: strong incentive I to show commitment fear of back sliding b.) Rewards from 3rd parties 2- constrain action of others a.) moral & philosophical reasons b.) role of NGO'S c.) Self interested motivations peace & stability il. Spillorer i violence spilling over from one cantry to another liii. Economic self interest CEx. mixed incentives of laber nich) py a Why don't States - observe human Int pels final A Deadliest & most frequent viclence 1- ga't against their own citizens a. in riclation of ICCPR & ICESCR CEX Great Leap forward 1a.s.8 +196.1). -Forced industrialization CFR Genocide gor sponsored) b. human righis look the same as 25 yrs ago. c. 2 notable exemotions : Sath America modernizing & Central/Eastern Europe democratically right laws? Do human right Some research laws make a difference ! says it helps & others say it hurts Explanations? - International law doesn't matter No enforcement = no incentive Agreements act as political power short vs long term • empower individual nute of transnational actors actors What can to lead better few violators are punished & this needs to be fixed but it's costly Inconsistent inforcement countries will still opress people if it benefits them no matter the punishment I costly to enforce May need major powers on board Incon protect himan rights ? Issue of free ride sovereignty problem When do states take actions 3 conditions Domestic pressure: people want change; public outrage presence of geopolitical interests: willing to punish cantry if other benefits to punish I them will occur • Binding gap between sovereignty å human rights - Don't want to intervene in order for them to not intervene wl gar corruption, policies, affairs etc ay Sou I Hope for Pendente Future • Stronger institutions 7 better punishment incentives, innovations etc To Individual Petition * Idea that you individual) has right to appeal to international cart & file griviance against your gov. - CEX: European Convention of Human Rights & Fundamental freedom) ECHR 1950 cantries pg lo SESSOUD Int pols Final Universal Jurisdiction new controversial idea that empowers national Court & can proscate who caused crime against humanity regardless of citizenship or where crime was commited (Ex: National cart in Spain & UiS war on terror ous rejects notion fears uis. officials /military will be a threat law (120) cart wl national 3 International criminal Court last resort can prosecute act if Jurisdiction is unwilling) o se fears it will lack efear it'll be done criminal reasons. oversight for adlitical & not & Harnessing power of material resarces use of regional trade agreement CRTAS) increasingly including "hard" precisions Conclusion "states seek to protect himan rights o form of cooperation o holations continue ble answer may be strenger institutions Study sou

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