Political Science 2140A/B Lecture Notes - Lecture 7: Muay Thai, Sex Tourism, Cosmopolitanism
2 Nov 2017
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Document Summary
Race to the bottom countries involved in a downward spiral of competitiveness. Competition myths: pitting countries against each other, lower wages elsewhere used to argue for lower wages here, signing free trade agreements to lock in competition between certain industries ( not agriculture) Race to the bottom fear mongering: mncs lower costs are lowest overall. Insurance, healthcare, wages, benefits (canada: states choose lower taxation, lower spending (canada) Development industrial upgrading nation-states, firms, and even workers move from low-value to relatively high-value production. Outsourcing transfer of activities once performed by an entity to a business(es) in exchange for money. Offshore outsourcing transfer of activities to entities in other countries. Idea (cid:271)ehi(cid:374)d ep)(cid:859)s, (cid:373)a(cid:272)(cid:395)uilado(cid:396)as: first race to the bottom was britain, us, japan, hong kong. Progress? sovereign wealth funds funds controlled by nation-states that often invest in other countries. Gonna be out of work, retrained as a smelter?) creative destruction new creation destroys old job.
