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8 Cards in this Set
- Front
- Back
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Perfect Competition v. mergers, patents and transnational corps
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Few, very large businesses with low profits, but high share of the markets.
Transactions within a Large Corp is not efficient Patents are monopolies |
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Trade v. Environment WTO
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Globalization leads to more pollution... WTO can override national environmental laws
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Standards-lowering competition
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Externalities are not not counted or legislated against, so as to be more competitive in the International community
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Wealth and Power
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Large corps are lessefficient, but are able to lobby and effect policy to allow them to thrive
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Specialization and Welfare
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Less choices for how to earn living, and less choice for different products
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Trade and Scale
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Environmental dmg might occur in another country, cannot legislate against. Opt for worse environmental production in other countries
Combines resources to reduce limiting constraints on scale |
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Distribution & Globalization
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Capital mobility means that money will flow to absolute advantage, but countries are poorest b.c. they are bad at producing things. Globalization further exacerbates the problem
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Food Security and International trade
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If there is drop in local poor economy country can no longer buy food. LDCs have higher costs of farming, reduces food prices, hurts local economy
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