Reference no: EM133303624

Wheelan's list of trade and globalization statements. Know the why and how (according to Wheelan).

Trade makes us richer. Why and how?

Trade creates losers. Why and how?

Protectionism saves jobs in the short run and slows economic growth in the long run. Why and how?

Trade lowers the costs of goods for consumers, which is the same as raising their incomes. Why and how? Trade is good for poor countries, too. Why and how?

Trade is based on voluntary exchange. Why and how?

The comparative advantage of workers in poor countries is cheap labor. Why and how?

Preferences change with income, particularly with regard to the environment. Why and how?

1. What is the "good news" about Asian sweatshops?

2. How can free trade and specialization make all nations better off?

3. What is more important for developing countries: policies or resources?

4. What are types or examples of effective development policies? Why?