Section 1: Winners and Losers – Trends and Forces of Global Poverty, Resource Curse & Sweatshops

Section 1: Winners and Losers – Trends and Forces of Global Poverty, Resource Curse & Sweatshops 

“Weekly Guide … Global Poverty Reduction … The Resource Curse … Knowledge Check … Sweatshop Issues … Wages … Country Specific Discussions … Conclusion”
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Summaries

  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 2. Global Poverty Reduction > Dean Joel Hellman on the Trends in Global Poverty
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 2. Global Poverty Reduction > Dean Joel Hellman on the Challenges for Sustainable Development and Security: The Impact of Conflict
  • GeorgetownX: NFX523-03x Globalization's Winners and Losers
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 3. The Resource Curse > EITI Lecture
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 3. The Resource Curse > Guest Lecturer: Scott Taylor on the Resource Curse
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 3. The Resource Curse > Guest Lecturer: Scott Taylor on the Case of Botswana
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 3. The Resource Curse > Jean Francois Seznec on Saudi Arabia and Lessons on Managing the Resource Curse
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 4. Sweatshop Issues > Sweatshops Lecture
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 5. Wages > Minimum Wages and Living Wages Lecture
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 5. Wages > Guest Lecturer: Scott Taylor on Youth Unemployment
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 5. Wages > Prescriptions Lecture
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 5. Wages > Guest Lecture: John Kline on Facing Sweatshop Issues
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 5. Wages > Guest Lecture: John Kline on the Case of Alta Gracia
  • Winners and Losers - Trends and Forces of Global Poverty, Resource Curse & Sweatshops (Week 1) > 7. Conclusion & Looking Ahead > Conclusion: Summary

GeorgetownX: NFX523-03x Globalization’s Winners and Losers

  • So we lead off with one of the most controversial issues in the spread of trade investment and technology across borders and that is foreign direct investment in natural resources, like oil and gas, copper, diamonds, gold, coal, and the problem of the resource curse.
  • Now, if you were to open a textbook from years ago, you would have found that natural resources in abundance are a source of growth and wealth for developing countries, or so it was supposed.
  • Why not? If you have oil, if you have diamonds, if you have gold and copper, can’t these be used to help develop the country? But if you turn to contemporary textbooks, the first chapter is liable to be about the resource curse, meaning that the revenues from foreign investment in oil and gas and coal and copper get siphoned off in corruption.
  • The readings that I have assigned show some studies that suggest countries that are richer in resources grow more slowly, not more rapidly, but more slowly because of the burden of having the resource curse.
  • So the question is, how can resources be used to benefit broad economic and social development and avoid the corruption and authoritarian rule? The key issue is always going to be the local population, the local leadership, the local press, and NGOs, non-governmental authorities that try to promote openness and transparency.
  • Before we leave the resource curse, you will see from the readings there is a phenomenon called “Dutch Disease.
  • ” This is also part of the resource curse, which means that the exchange rate for the currency of resource-rich countries becomes overvalued, and this hurts the exports of other industries.

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