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The world's first luxury crop.
Example: GVC and how they can be corrupted |
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| Policie required to receive loans from IMF or WB such as reduction of government expenditure, integration with world market, eliminate trade traffics, restructure economy with comparative advantage, sell off of public utilities or services |
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1/5 of the world's population or 1.3 billion people.
Live on less than $1 a day |
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| Watchdog, Shareholder, ethical investment, litigation, advocacy and more critical research |
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| Counter cyclical spending |
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when aggregate demand has decreased or recession public sector authorities should step in and fill in the gap.
spending against business cycle not to be done in boom economy |
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Economic Development Administration (1965)
Mission is to track regional poverty |
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1. unemployment rate that is at least 1% greater than national average rate.
2. Per capita income 80% or less of national average
3. A special need, as determined by EDA arising from actual or threatened severe unemployment |
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Export Processing Zones
Independent area controlled by corporations and free of national control. (tax free zone, free to police themselves, and have the right to prevent those outside of them from seeing what is going on inside)
*Low cost productions for major world brands* |
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Finance, Insurance & Real Estate
Cities that use to be industrialized and are not anymore. Make money on rich real estate. (New York City) |
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Many products are functional; status value exists, but is not thought of as a mass phenomenon
(vertical integration) |
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Connects producers, distributers, and point of sale contracting jobs out across the world
EX: Levi's, make all there pants over seas, but maintain control of production from start to finish |
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General Agreement of Tariffs and Trade. (UN, 1947)
Later replace by teh World Trade Organization 95. GATT was a system for liberalization of trade. |
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Initially controlled by British 1875-1914 currency was back by gold
1914-1945 no gold standard or global currency
1945-1971- US had choice to devalue the dollar or eliminate gold standard, choose to eliminate |
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Highly Indebted Poor Countries
Carrying a lot of debt that they cant reasonably pay back |
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Rapidly increasing inflation within a specific economy that is caused by a large increase in the money supply without the growth in GDP.
This causes prices for goods to increase while the currency continues to loose its value (Zibabwe) |
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International Monetary Fund
-An International Governmental Organization (IGO)
promotes international monetary cooperation specifically on exchange rates and balances of repayment |
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| is the hypothesis that poorer economies per capita incomes will tend to grow faster than richer economies. |
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When the price of an asset and an indicator, index or other related asset move in opposite directions.
When stock prices moves in one direction, the Money Flow Index (MFI) moves in the opposite |
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Industries in the early stages of development.
Tariffs can protect these industries until they are able to fully development and complete global market |
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| general increase in prices and fall in the purchasing value of money |
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| International Coffee Agreement |
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aimed to achieve a reasonable balance between supply and demand of coffee at a higher price.
After WWII coffee increased like crazy |
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Behavioral
Marxian
Post Modern |
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| Microcredit and Microfinace |
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| part of microfinace, small loans with high interest rate given to those in poverty who do not have collateral, employment and no credit history |
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| Larger program for providing finical services to those living in poverty including saving, insurance and fund transhers |
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| MMillenium development goals |
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| Goals adopted by world leaders through the UN in 2000 and set to be achieved by 2015. |
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| Bail outs gave rise to the Moral Hazard problem. arises when a party does not bear all the risk associated with his action and as a result does nto do everything he can to avoid risk |
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Organization of Petroleum Exporting Countries
set production standers in 73, they withheld productuion and prices increased 450%
oil became a global factor |
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| art of making a product break/fail after a certain amount of time, for you well buy another one and make more profit for them. |
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status value of a commodity is really important
need to encourage consumption
need to organize consumption
need to keep people ignorant of how stuff is produced
global assembly lines
Flexible labors forces |
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june 1906
law provided federal inspection of meat products and forbade the manufacture, sale, or transportation of adulterated food products and poisonous patent medicines |
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in order for developing countries to compete and succeed in global economy they must undercut the competition in various ways.
lower wagers, poorer working condition, longer hours, ever escalating pressure and demands. |
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| the practice of taking advantage of a price difference between two or more markets |
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| an initiative that tries to bring back productions jobs to the US from other countries such as China where outsourcing has occurred by American firms. |
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| supposed to help to strengthen infrastructures |
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| gave states the choice on whether or not to unionize south mainly opts out |
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| situation of being unable to escape poverty because of being dependent on state benefits |
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| Product life cycle- the process of managing the entire life cycle of a product from it conception, through design and manufacture to service and disposal |
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| the full range of activities involved in creating, producing and delivering a product when divided among several companies and spread across the world |
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| The process whereby vertically integrated firms are dismantled and in which there is a great reliance on out sourcing and sub contracting in place of service and activities formerly provided by branches within the firm. |
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| focus on "Closed Shop" Unions meaning that everyone in the company must join the union and the management must fire those who refuse |
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| Wal Mart & buyer driven value chains |
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| Wal Mart is a buyer driven chain that plays huge role in determining what/how much industries produce. |
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The World Trade Organization (1995)
an international agency which encourage trade between member nations, administers global trade agreements and resolves disputes when they arise. |
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