Apr 15 2008
We began our final unit in AP Economics today on international economics. Some of the topics we’ll cover in this unit are trade, protectionism and exchange rates. We’ll also continue the discussion that began today about the impact of economic globalization on both developed and developing countries.
One of the big questions we’ll address is whether globalization works; whether it has contributed to real improvements in the lives of people in both the rich and poor countries, whether the international financial and trading systems in place today are adequate, and the degree to which government should be involved in controlling the impact of international economic integration.
One of the leading economists in the field of international economics is Joseph Stiglitz, winner of the 2001 Nobel Prize in Economics and author of the recent book, Making Globalization Work. As an introduction to some of the issues we will discuss in this unit, watch the video below in which Stiglitz addresses some of the major challenges nations face in making globalization work. Leave a comment sharing your responses to the questions below the video.
- What are some of the pressures faced by Americans in the era of globalization?
- What does Stiglitz think it means to “manage globalization well”?
- “Social protection doesn’t mean protectionism” – discuss…
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