FINAL NOTECARDS

The Heckshr-Ohlin and Stolper Samuelson go hand in hand because they state that if a country has an abundance of a [=]\'labor intensive resource, then it will export that resource, and the industry producing that resource within the country will be for liberalization trade. If a country has scarcity of a resource, then it will import that resource, and the domestic industry within the country will be for protectionism of trade. The Ricardo-Viner differs because they believe that liberalizati...

implies that all countries benefit from trade if each country specializes in the production of certain goods. countries should focus their productive capacities on producing these goods and rely on international trade to obtain all the other goods that it needs. All countries had a comparative advantage in something. 

the amount of labor, land, a capital a country has

Land, labor, capital

farming

warm bodies, use hands and bodies to work, workers, unskilled labor

factories and machines, and the money you have to fund those factories and mahcines

putting tariff or non-tariff barriers on imports to promote domestic spending and economic growth

protectionism

the opening or lowering of trade barriers to help increased global trade

Its a possible agreement between two countries where both countries would have incentives to cooperate if the both agreed the pending agreement, however both would have more incentive to defect if the other country cooperated. Therefore, they both have incentives to defect, so the chance of the deal working out is minimal, and both countries in this situation the worst outcome.

it is meant to facilitate world trade through increase information through monitoring, help reducing prisoners dilemma.

1. the countries one trades with are less likely to defect

1. monitored

liberal trade causes globalization which moves the world toward democracy which reduces the ability to impose trade barriers, causing more trade liberalization. 

ANTI-WTO

WTO exists because countries recognize they need change. Struggling countries can't change with out excuse to enact reforms. 

Roderick is anitWTO is costs the LDC's money that the they should be using to develop themselves. Sutherland is proWTO because struggling LDC can't change without competition. 

Preferential Trade Agreements ties material benefits to compliance with human rights then it will be more effective then soft Human Rights Agreements. If you change your human rights policies, we will in turn give you resources you need. 

generally a fixed rate, however allowed to change according to economic changes, frequent changes are frowned upon

only a new international development strategy can rectify the problem of LDC's. Continued failure is expensive, and richer countries need to help. Millenium Declaration- 8 international development goals for LDC's

utopianism- the promising of more then we can deliver, is what the United Sates doing through having unachievable, large goals to try to fix the developmental issues in LDC's. He believes that we are enabling them by giving them welfare. The corrupts money will use the money incorrectly aka the Top-Down strategy doesn't work. .  

Sachs, wants to start a new international development strategy that would meet the 8 terms in the millenium declaration and believes in the help from other countries to save the LDC's. Easterly, critizing Sachs, believes that we are promising more than we can deliver, and the top-down strategy doesn't work in that countries will be corrupt and misuse the money and we will be enabling them. 

distributive just that the gains from trade should be evenly distributed and fair, and currently the northern hemisphere is more developed than the southern hemisphere, therefore the north makes most the rules and reaps most the benefits.

we need to not to take lessons from history so literally. It repeats itself, but not in the same way. Parallel but not synonymous. Need to represent more than the banks and recognize other players such as private investors and private investors. A solution is a World Financial Order like organization with stronger sanctions. 

If possible to aid poor, we should save someone drowning, only if you can swim. morality

Doesn't want to help poor poeple. life boat analogy. poor people reproduce at a higher rate then non poor people. and cause destruction to all 

The tragedy of the commons is a dilemma arising from the situation in which multiple individuals, acting independently and rationally consulting their own self-interest, will ultimately deplete a shared limited resource, even when it is clear that it is not in anyone's long-term interest for this to happen.

solution = privatization example: fishery (permit to fish = privatization)