- Published: October 4, 2022
- Updated: October 4, 2022
- University / College: University of Technology Sydney
- Level: College Admission
- Language: English
- Downloads: 8
Answers to Questions Table of Contents Chapter Chapter 2 Works Cited Chapter A. What is the concept about freedom? There is the concept of freedom in the context of free trade, where trade is supposed to happen without limitations as the phrase denotes, but in reality is really about large corporations taking away the traditional freedom of self-preservation from nations and communities (Mander 12).
B. Who pays for freedom?
Eventually the poor pay for “ freedom”, as well as the environment. It is the marginalized poor, including the workers anchored on the domestic economies, and the small-scale farmers (Mander 12).
C. How long-term is growth?
The growth is short term and cannot be sustained at best, because in essence the foundation of the growth is weak, founded not on the sustainability of the local economies but on their plunder by the corporations, who essentially profit from what the poor pay (Mander 12).
Chapter 2
A. What is the role of GATT and WTO?
The role of the GATT and the WTO is to legally protect the large corporations in their drive to project their power and their capacity to make profits to the rest of the world. The aim is to legitimize their profit grab, through the mechanisms provided by the GATT and the WTO (Korten 28).
B. What impact might WTO have on the State of Michigan?
Given the relative wealth and power of Michigan in comparison to countries outside the US, the WTO might have the impact of advancing the economic interests of the state, by giving Michigan the legal protection to push for changes in other countries so that the state’s goods and services might be more competitive in those other countries (Korten 28).
C. What are the corporations forced to do if the invest in real assets?
If corporations are forced to put down money in real assets, they are forced to realize as much short-term profits from those assets. This means making those assets as efficient as possible, laying off workers and squeezing as much profit as they can, so that the local economy grows without adding jobs but shedding them (Korten 29).
D. What kind of economic growth should be expected?
It is expected that growth in the economy will occur without the addition of new jobs (Korten 29).
1 Works Cited
Korten, David. “ Instruments of Control”.
Mander, Jerry. “ Flawed Paradigms”.
