Econ 4514
David Hernandez
4th Essay Exam
2. According to Betran and Pons, Williamson, and Jacks (Jigsaw #12) Europe was experiencing increasing globalization in the late 19th and early 20th centuries. Select one of these papers and discuss what they see as the interconnectedness of European markets and how this affected the countries they were examining. What does this reveal about how later industrializers were at a disadvantage in the rapidly changing world of the early 20th century or about how some countries became winners while others became losers – at least in the short run? (Betran and Pons, Williams, or Jacks).
This paper maid ideas and focus are from Williamson’s “Land, Labor and Globalization in the Third World (1870-1940)” paper. …show more content…
Before of World War 1 there was significant inequality, however after WW1 inequality fall due to many countries adopting some source of protectionism. While factor-price convergence could be good for countries entering free trade agreements. Wages for jobs converge may not be a good thing, convergence may results in a drop of unskilled wages in one of those countries with previously high unskilled wages, and increase of wages on the other country with previously low unskilled wages. While income distribution is observed in the whole world. In addition to increased price of commodities and relative factor-price, an increase in wages caused rent to fall and people to migrate from agricultural to manufacture labor sectors. In fact migration increased massively in globalization prior to WW1.
The losers of globalization are the preindustrial periphery countries such as the Southern cone. While the winners are the industrialized and Northern countries such as: Europe.
Sources:
Williamson – Land, Labor, and Globalization in the Third World, 1870-1940 (Journal of Economic History, V. 62 n. 1, 2002) https://learn.colorado.edu/d2l/le/content/132986/viewContent/2062359/View pp. 55-85
Smith, Adam (2007). An Inquiry Into The Nature and Causes of the Wealth of Nations.http://www.ibiblio.org/ml/libri/s/SmithA_WealthNations_p.pdf: p.13
Blaug, Mark (1992). The methodology of economics, or, How economists explain. Cambridge University Press. p. 286. ISBN
David Hernandez
4th Essay Exam
2. According to Betran and Pons, Williamson, and Jacks (Jigsaw #12) Europe was experiencing increasing globalization in the late 19th and early 20th centuries. Select one of these papers and discuss what they see as the interconnectedness of European markets and how this affected the countries they were examining. What does this reveal about how later industrializers were at a disadvantage in the rapidly changing world of the early 20th century or about how some countries became winners while others became losers – at least in the short run? (Betran and Pons, Williams, or Jacks).
This paper maid ideas and focus are from Williamson’s “Land, Labor and Globalization in the Third World (1870-1940)” paper. …show more content…
Before of World War 1 there was significant inequality, however after WW1 inequality fall due to many countries adopting some source of protectionism. While factor-price convergence could be good for countries entering free trade agreements. Wages for jobs converge may not be a good thing, convergence may results in a drop of unskilled wages in one of those countries with previously high unskilled wages, and increase of wages on the other country with previously low unskilled wages. While income distribution is observed in the whole world. In addition to increased price of commodities and relative factor-price, an increase in wages caused rent to fall and people to migrate from agricultural to manufacture labor sectors. In fact migration increased massively in globalization prior to WW1.
The losers of globalization are the preindustrial periphery countries such as the Southern cone. While the winners are the industrialized and Northern countries such as: Europe.
Sources:
Williamson – Land, Labor, and Globalization in the Third World, 1870-1940 (Journal of Economic History, V. 62 n. 1, 2002) https://learn.colorado.edu/d2l/le/content/132986/viewContent/2062359/View pp. 55-85
Smith, Adam (2007). An Inquiry Into The Nature and Causes of the Wealth of Nations.http://www.ibiblio.org/ml/libri/s/SmithA_WealthNations_p.pdf: p.13
Blaug, Mark (1992). The methodology of economics, or, How economists explain. Cambridge University Press. p. 286. ISBN