The Gospel Of Free Trade Analysis
BIBLIOGRAPHY MacEwan, A. (2009). The Gospel of Free Trade. In R. B. Dollars & Sense, Real World Globalization, 10th Edition (pp. 1-9). California: Dollars & Sense.
In this article mentioned that the U.S. and European Countries who founded the free trade and pushing other countries to it collapse in economic crisis. In 2007- 2008 rapid global crisis U.S. had to change their economy “buy American” concept was born. They changed their free trade policies and turn into some government involvement of the economy. According to the author free trade is not a good development strategy. U.S. all the time tried to push the countries for the free trade. By using their power the global push for the free trade agenda U.S. signed the North …show more content…
What is this neo-liberalism, classical liberalism is the political philosophy consider that the minimal involvement of government regulations over the economy including financial and labor market. According to the classical liberalism business should be free to operate as they wish and consumer should be responsible for deciding which businesses produce goods and service that are sufficient quality as well as reasonably priced. Neo-Liberalism and Washington consensus are contemporary variant comparing with the classical liberalism. Neo-Liberalism has set of policy measures are with implementation. According to the author there are 3 fundamental problems with the Neo-Liberalism. Those are Marx problem, Keynes problem, Polanyi problem. Under Marx problem article has talk about the labor’s bargaining power. Neo-Liberalism diminishing the labor’s bargaining power ‘cause to unemployment and underemployment this means worker employs has more readily replacement by the Marx called “reserve army” there for worker can’t get enough wages for their uses. Because if they call for more salaries they have to leave the job ‘cause there are so many worker waiting for that job with relevant wages. Therefore under neo liberalism labor weaken their bargaining power. Under Keynes problem it is talks about the investments security ‘because economy is fluctuating all the time. Investment fluctuations will also affect overall spending in the economy. When investments are spending decline leads to employment declines and this means that business will hire fewer workers. Unemployment rises as a result of this. There is no guarantee that investment spending the business. Because there is no controller to look after the failure businesses. Polanyi problem is if you want some fairness in market economy you have to embedded in social norms that means there should
In this article mentioned that the U.S. and European Countries who founded the free trade and pushing other countries to it collapse in economic crisis. In 2007- 2008 rapid global crisis U.S. had to change their economy “buy American” concept was born. They changed their free trade policies and turn into some government involvement of the economy. According to the author free trade is not a good development strategy. U.S. all the time tried to push the countries for the free trade. By using their power the global push for the free trade agenda U.S. signed the North …show more content…
What is this neo-liberalism, classical liberalism is the political philosophy consider that the minimal involvement of government regulations over the economy including financial and labor market. According to the classical liberalism business should be free to operate as they wish and consumer should be responsible for deciding which businesses produce goods and service that are sufficient quality as well as reasonably priced. Neo-Liberalism and Washington consensus are contemporary variant comparing with the classical liberalism. Neo-Liberalism has set of policy measures are with implementation. According to the author there are 3 fundamental problems with the Neo-Liberalism. Those are Marx problem, Keynes problem, Polanyi problem. Under Marx problem article has talk about the labor’s bargaining power. Neo-Liberalism diminishing the labor’s bargaining power ‘cause to unemployment and underemployment this means worker employs has more readily replacement by the Marx called “reserve army” there for worker can’t get enough wages for their uses. Because if they call for more salaries they have to leave the job ‘cause there are so many worker waiting for that job with relevant wages. Therefore under neo liberalism labor weaken their bargaining power. Under Keynes problem it is talks about the investments security ‘because economy is fluctuating all the time. Investment fluctuations will also affect overall spending in the economy. When investments are spending decline leads to employment declines and this means that business will hire fewer workers. Unemployment rises as a result of this. There is no guarantee that investment spending the business. Because there is no controller to look after the failure businesses. Polanyi problem is if you want some fairness in market economy you have to embedded in social norms that means there should