GLBL ST 1 Lecture Notes - Lecture 4: World Trade Organization, Capital Market, Nationstates
Document Summary
Often globalization is viewed as the demise of rules, but we can see the proliferation of rules internationally. Global trade was so high in 1900"s that the same level of trade would not be seen until. 1970"s yet, there were not that many rules governing as there are today there is a relationship between rules in the nation and globalization. It is not possible to regulate the market, growing markets gives other countries the power over others. 23 things they don"t tell you about free markets: There are no free markets, there are a lot of rules and regulation and people do see them as they are normalized values and perspectives of people change over time, changing what we regulate. Depends on what you see as free if you think child labor should not be restricted, then the market is not free (historical argument) Free markets now used protectionist policies to grow their markets.
