What is globalization? Is globalization a good thing or not. Well, I have an answer that may not surprise you: It's complicated. This week, Jacob and Adriene will argue that globalization is, in aggregate, good. Free trade and globalization tend to provide an overall benefit, and raises average incomes across the globe. The downside is that it isn't good for every individual in the system. In some countries, manufacturing jobs move to places where labor costs are lower. And some countries that receive the influx of jobs aren't prepared to deal with it, from a regulatory standpoint. Anyway, Jacob and Adriene can explain the whole thing to you in 10 minutes. *** Crash Course is on Patreon! You can support us directly by signing up at http://bit.ly/1kXQaxC Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://on.fb.me/1OvwQRT Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://bit.ly/1N37J5I Support Crash Course on Patreon: http://bit.ly/20jrwrn CC Kids: http://www.youtube.com/crashcoursekids
11/27/15
Globalization and Trade and Poverty: Crash Course Economics #16
What is globalization? Is globalization a good thing or not. Well, I have an answer that may not surprise you: It's complicated. This week, Jacob and Adriene will argue that globalization is, in aggregate, good. Free trade and globalization tend to provide an overall benefit, and raises average incomes across the globe. The downside is that it isn't good for every individual in the system. In some countries, manufacturing jobs move to places where labor costs are lower. And some countries that receive the influx of jobs aren't prepared to deal with it, from a regulatory standpoint. Anyway, Jacob and Adriene can explain the whole thing to you in 10 minutes. *** Crash Course is on Patreon! You can support us directly by signing up at http://bit.ly/1kXQaxC Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://on.fb.me/1OvwQRT Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://bit.ly/1N37J5I Support Crash Course on Patreon: http://bit.ly/20jrwrn CC Kids: http://www.youtube.com/crashcoursekids
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