In 150 words, provide a “reasoned opinion” that shows you have read and understood the material (lecture, readings, and/or video).
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Question 1: Economics and Global Trade
Will consumerism and capitalism cause the collapse of ecological systems and services we depend on for survival?
What did you think after seeing the national debt clock? Did you see the world debt clock (it’s on the national debt clock)? Can we guide global economic systems to promote ecological and economic sustainability or must we sacrifice one for the other?
Question 2: The World Bank
Financed by the countries with the world’s largest economies, the World Bank in turn finances large infrastructure projects in LDC’s. Some see this as environmental and social exploitation by MDC’s. Others see this as a mechanism by MDC’s to enable LDC’s to grow its economy to improve the lives of its people. What is your opinion? Is this increasing global trade to reduce poverty or is it a form of economic colonialism to promote exports to MDC’s?
Question 3: Trade and Exploitation of Workers and the Environment
Many regions of the planet are “rich” in oil, diamonds, timber, and other natural resources. The challenge for these countries is managing their comparative advantage. There are benefits to short-term economic gain and possibly using it to reduce poverty or to build infrastructure. Some see that the cost of short term economic benefits is long-term and sustained damage to ecological systems, the environment, and the exploitation of people. Discuss mechanisms of how we may limit or eliminate destructive and exploitative practices while we pursue profit.
ADDITIONAL SOURCES:
National and World Debt Clock: https://www.usdebtclock.org/
Children Mining Cobalt: https://www.youtube.com/watch?v=OTEVHykWZqk
Gold Mining in Peru: https://www.youtube.com/watch?v=yEecStCFfo8
Tackling the Illegal Timber Trade: https://www.youtube.com/watch?v=1mmvECRqIMA
