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INTSTDS 2500 Lecture Notes - Lecture 11: Artha, Vaishya, Dominate

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violetmacaw314
23 Mar 2016
School
Ohio State University
Department
International Studies
Course
INTSTDS 2500
Professor
Keshk Omar

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Document Summary

Political development is not possible when religion plays a role in politics. In western culture, with modernization religion in everyday life as gotten less and less, but in other cultures it has become more prominent. Western historical evolution: macro: pope protestant revolution moves religion away from the state and now it is a private matter. Separation of church and state (not separation of church and people) the state cannot promote/ favor one religion over another. Iran and saudi araba (more so iran) do not have separation of church and state. In saudi araba the monarchy is not subject to religion, but the people are. In iran, religious figure decides who can rule and who cannot. A lot of places use religion to control the people, but they aren"t beholden to the religion. Beliefs: karma: which means thoughts words and actions in this life which has an effect on next life.

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Related Questions

Consider the following excerpts:

Excerpt 1:

Saudi Arabia is ramping up efforts to lure international companies and revive Crown Prince Mohammed bin Salman's plans for an economic makeover after foreign investment fell to a 14-year-low in 2017.

The moves include plans to create two investment funds totalling over $18 billion for the government to enter into ventures with foreign companies, said people familiar with the matter. The kingdom is also pouring billions into entertainment-industry partnerships and working with SoftBank Group's Vision Fund to bring technology firms to Saudi Arabia.

The first modern Saudi bankruptcy law is due to soon come into effect. The government has also drawn up a law on public-private partnerships, the first step toward the sale of billions of dollars in state-owned assets that the government hopes will attract foreign investment in big infrastructure projects.

Prince Mohammed is trying to shift the economy away from oil and toward industries that provide growth and jobs for Saudis. The first steps toward economic reform included cutting subsidies and adding taxes to narrow the budget deficit.

He has introduced social reforms such as allowing women to drive and opening cinemas. He has also forged an alliance with the Trump administration and shifted the kingdom into a more firm posture against Iran. But some of his economic plans have so far stalled.

 

The Saudi economy contracted last year, largely as a result of lower oil prices, and only emerged from recession in the first quarter of this year. The prospect of years of low oil prices helped spark Prince Mohammed's calls for economic reform, though prices have rallied in recent months.

Also worrying some investors was the detention of Saudi business leaders last fall in what the kingdom said was an anticorruption crackdown. The charges weren't aired publicly and some businessmen remain jailed; the government has moved to collect over

Saudi officials have said the crackdown should assure investors that the kingdom is serious about securing a stable rule of law, and the crown prince sought to win more American business on a nearly three-week visit to the U.S. this spring.

 

Excerpt 2:

Saudi Arabia's premier business conference opened as scheduled Tuesday, missing the star power of Western executives who cancelled over a Saudi journalist's death but packing a surprise: an unexpected visit from Crown Prince Mohammed bin Salman.

 

The event, the Future Investment Initiative, once again served as a forum for promoting Saudi investment and Prince Mohammed's modernization plans. But the gathering was stripped down from last year's inaugural session as the kingdom wrestled with corporate and diplomatic fallout in the wake of allegations that the Saudi government was involved in Jamal Khashoggi's Oct. 2 death in the Saudi consulate in Istanbul.

 

"Everybody is talking about it," said Henry Fernandez, chief executive of MSCI Inc., a U.S.-based markets-index compiler, speaking of Mr. Khashoggi's death. Despite that, he said the conference remained focused on engagement [with Saudi Arabia], not divestment...

 

The reaction to Mr. Khashoggi's death threatens to derail Prince Mohammed's plan to re-engineer the kingdom's economy to make it less reliant on oil income. The event is the prince's most visible effort to attract international investments by presenting the country as a business-friendly place that embraces new technologies

 

The event drew more than 3,000 investors, business leaders and advisers, according to the event app, but attendees also estimated hundreds had withdrawn. Many Western dropouts were replaced by representatives from Russia, Asia and the Arab world.

 

Among those who remained, French oil giant Total SA's CEO, Patrick Pouyanne, showed up alongside regional investment bank heads. Lucid Motors Inc., a California-based electric vehicle maker in which Saudi Arabia has committed to invest $1 billion, showcased the only prototype of its planned first car in the hotel's lobby.

 

Shahid Kazi, chief executive of Dubai-based consultancy ValuStrat, said Western executives who cancelled may have put a dampener [on the event] and may have disappointed people. But I wouldn't say it [the event] isn't useful. The Saudis are all here. That's who we really want to meet.

 

Still, there were signs that the gathering was off to an inauspicious start.

 

Last year, Western attendees arriving here were whisked to a luxurious airport lounge serving Arab coffee and dates. On Monday night, they lined up for passport control like everyone else.

 

The conference's website appeared to be hacked and was unavailable for hours Monday. Meantime, the World Economic Forum, which runs the eponymous event in the Swiss resort of Davos each year, formally objected to the gathering's nickname, Davos in the Desert.

 

Investors have divested more than $720 million from the Saudi stock market since Mr. Khashoggi's disappearance. The stock market, known as the Tadawul, is down about 4% since then.

What motives might drive technology and entertainment companies to invest in Saudi Arabia?

 

What are the risks associated with FDI in Saudi Arabia?

 

Why is the Saudi government so active (reform, conferences, risk-sharing) in bringing FDI back to Saudi Arabia?

 

WRITE a one-sentence summary of each paragraph!

The False Income-Inequality Narrative

BY JASON L. RILEY

Published in the Wall Street Journal on Sept. 29, 2015

An enduring theme of the Democratic presidential race has been income inequality, coupled with an enduring belief that America's affluent reached their status at the expense of the poor and the middle class.

Bernie Sanders speaks of little else on the stump. And when not busy dissembling on her handling of email correspondence at the State Department, Hillary Clinton will tell you that the deck is still stacked in favor of those at the top. If Joe Biden gets in, expect more of the same. The vice president is said to be contemplating a 2016 bid in large part because struggling middle-income families may have trouble relating to Mrs. Clinton on inequality given her high living since leaving the White House.

This theme, in any case, seems to resonate with voters, which is no huge shock in the sixth year of an economic recovery. Envy and resentment fuel class warfare and lackluster economic growth throughout the Obama presidency have made people less optimistic and more inclined to fault others for their circumstances. A Wall Street Journal/NBC News poll this week reports that four-in-five Americans “were either angry because our political system seems to only be working for the insiders with money and power or anxious and uncertain. After all, the economy still feels rocky and unpredictable or both.

Liberals want to address income disparities through wealth redistribution by taking money from more productive people and giving it to the less productive in the name of fairness as the left defines it. They want to raise income taxes, expand the welfare state, lift minimum wages, and strengthen the bargaining power of unions. Mr. Sanders has been the most explicit about this, even going so far as to propose a wealth tax. Our economic goals have to be redistributing a significant amount of [wealth] back from the top 1%, the senator said in July.

In reality, the left has overstated the problem. And all the focus on divvying up existing wealth instead of creating more risks making matters far worse for the people they are trying to help and the country in general. To the extent that the expanding welfare state allows more people to live without working and therefore without earning income or developing their own human capital—supporters of the welfare state are contributing to the very income disparities they so much decry, writes economist Thomas Sowell in his new book, “Wealth, Poverty and Politics.

Mr. Sowell is the author of more than 30 books over the past four decades, many having to do with what drives different social and economic outcomes among different groups in the U.S. and elsewhere. In his latest tome, he draws from this well of research to do what he has done so well for so long: question basic assumptions behind public policy and follow the facts where they lead him.

One common assumption is that proportionate or random outcomes are the natural order of things and that gaps or disparities are evidence of something wrong. In fact, huge disparities are the norm, not the exception, because the demographic, cultural, and political factors that influence the development of the human capital that makes people productive also tend to be unequal.

In 2013, only 9% of U.S. women with college degrees who gave birth were unmarried, versus 61% of women who were high-school dropouts and unmarried. Harvard's Robert Putnam reports that children from professional families will hear 19 million more words than their working-class peers before the first day of kindergarten.

These children don't have the same prospects. Equal opportunity, in the sense of being judged and rewarded by the same standards as others, cannot possibly mean equal life chances for children born and raised in these very different settings,writes Mr. Sowell. The fact that life is unfair is not the same as saying that a particular institution, or a particular society, is unfair.

The argument that social mobility is a thing of the past in the U.S. also is disputable. Longitudinal studies by the IRS and others that measure the progress of individuals over time show that the American dream is alive and well. One such paper, published by the Pew Charitable Trusts in 2012, measured whether a person has more or less income, earnings, or wealth than his or her parents did at the same age and concluded that the vast majority of Americans had higher incomes, while 50% had greater wealth.

In other studies, Pew has found generational stagnation but the authors have noted that it didn't apply to immigrants. If low-income immigrants can rise even when the native-born don't, writes Mr. Sowell, that strongly suggests that American society continues to offer opportunities to move up economically, but that not all groups make the same use of these opportunities.

Mr. Riley, a Manhattan Institute senior fellow and Journal contributor is the author of Please Stop Helping Us: How Liberals Make It Harder for Blacks to Succeed (Encounter Books, 2014).