GGR112H1 Study Guide - Final Guide: Organic Farming, Marketization, Social Reproduction
13 Dec 2016
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Globalization now: entering free market fundamentalism" this marks the transition b/w globalization then and now, strict neoclassical economies, south facing structural adjustment while north seeks deregulation/privatization of resources, ellwood - globalization then and now. Globalization has accelerated because of advancements in computer technology, lowering border for free trade of capital and goods, and expanding political and economic power of corporations. Result of european colonialism set up trade and wealthy back into colonized nations through mean of infrastructures. Expanding international trade in goods and services based on comparative advantage. Reagan and thatcher reduction in regulation with markets form the states. Companies must be free to operate where costs are lowest to allow max returns to investors. Involves free trade, low inflation, unfettered investment, deregulation, balanced budgets, privatization of publically owned enterprises. Basis for economic belief in free trade/market adam smith and david ricardo. Operates on fair trade where neither nation is indebted to one another: perfectly free commerce, rational market behavior.
