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Anonymous ID:ZDWEbkWH Fri 23 Oct 2015 07:01:37 No.934540 View Reply Report Delete

Quoted By: >>934558

Is globalization good for the economy, or is it only good for 'the economy' (corporate profits)?

Anonymous

Anonymous ID:IOUELfLV Fri 23 Oct 2015 07:21:35 No.934550 Report Delete

Quoted By: >>934560

Absolute wealth increases for everyone, relative wealth of rich countries decreases, inequality between classes increases.

So, it's good for everyone. Unless you care about keeping western dominance or fighting class inequality.

Anonymous

Anonymous ID:vcgVn9g/ Fri 23 Oct 2015 07:36:50 No.934558 Report Delete

Quoted By:

>>934540
Comparative advantages. Some countries make some shit better than others. So it makes sense for countries to specialize.

Absolute advantages. Even some countries make everything better than other, the opportunity cost for making some stuff is a high. So they trade to other countries who aren't as good at making shit.

Gains through trade: party A + B trade. Both A and B are better of because of it. It is mutually beneficial to trade.

Anonymous

Anonymous ID:ZDWEbkWH Fri 23 Oct 2015 07:39:19 No.934560 Report Delete

Quoted By: >>934565

>>934550
Idk though, consumer goods are cheaper yes, but those are generally a net loss for the end purchaser. They generally can't be used to generate profit, and often depreciate rapidly.

What good does having aircon and three refrigerators and numerous phones do you, economically speaking?

Anonymous

Anonymous ID:vcgVn9g/ Fri 23 Oct 2015 07:51:34 No.934565 Report Delete

Quoted By: >>934566

>>934560
Wtf are you talking about....
The consumer buys it because they want/need it. Because of increased competition and specialization, they can now get that good for less money and use the money saved for something else. The consumer comes out ahead.

Bro, read at least one econ book before you start making arguments.

Anonymous

Anonymous ID:ZDWEbkWH Fri 23 Oct 2015 07:54:22 No.934566 Report Delete

Quoted By: >>934572 >>934574 >>934576

>>934565
But it's not an economically productive good. They may want or need it, but it deteriorates over time and thus decreases their net wealth, because they haven't used it to produce any profit.

It is, from a financial view, no better than burning the money.

Anonymous

Anonymous ID:X2ez5kH8 Fri 23 Oct 2015 08:16:45 No.934572 Report Delete

Quoted By: >>934584

>>934566

>think of all the money you would save if you didn't buy food, a house, or any entertainment

These econ 101 kids are hilarious

Anonymous

Anonymous ID:vcgVn9g/ Fri 23 Oct 2015 08:19:27 No.934574 Report Delete

Quoted By:

>>934566
Yea. food sure is a waste of money.

Terrorblade !!UK1+OwQ87o/

Terrorblade !!UK1+OwQ87o/ ID:a1E52ZMP Fri 23 Oct 2015 08:25:11 No.934576 Report Delete

Quoted By:

>>934566
DELETE THIS POST

Anonymous

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Anonymous ID:ZDWEbkWH Fri 23 Oct 2015 08:41:38 No.934584 Report Delete

Quoted By:

>>934572
So where is all the extra wealth from globalization everyone should have?

Anonymous

Anonymous ID:XotXSwOC Fri 23 Oct 2015 08:47:07 No.934588 Report Delete

Quoted By:

globalization is not inherently good or bad, the economic system it operates in, should be questioned.

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