Economics Work and Prosperity In Christian Perspective Chapter 13

List some of the advantages and disadvantages of an increased amount of worldwide interdependence.

There might be fewer wars, third-world countries, refugees, etc. However it might also lead to increased government power and decreased personal freedoms.

Why are international aid organizations mot effective when administered by the private sector?

These people are more organized, have the freedom to choose who and how to support, and have to be accountable.

How do globalists use the need for free trade as an argument for a unified international economy?

They argue that free trade can only occur through globalism and that trade will never be fair without their regulation.

Why were the people in Genesis 11 so eager to stay together and build a name for themselves? Why did God choose to scatter mankind about the face of the earth? Do you think the presence of separate languages on the earth continues to discourage the process of globalization?

They did not want to be scattered across the earth. Because He knew man could not be stopped if they worked together unhindered. Yes, but not to the same extent.

Give three reasons why global aid organizations are ineffective.

They do not know the needs of people as well as local governments would, they discourage free markets by bailing out failing economies, and they encourage poor nations into a detrimental cycle of borrowing.

Why are countries with free market economies better quipped to handle environmental concerns than are countries with command economies?

They have the technology and motivation of profit to improve technology to help the environment.

How might organizations such as the IMF stifle the desires of individuals to help poverty-stricken countries?

They think these organizations are doing charitable things on their behalf and people who are taxed to support organizations don't have as much money to give to others.

World Bank

An organization originally established to to lend money to battle torn Japan and Western Europe after WWII. Presently acts as a welfare agency that lends funds to countries in poverty or financial distress.

Why are many European nations eager to join the EU? What roles do the EU have today in addition to promoting free trade?

Because the organization promises an efficient common currency, increased world influence, assured security, and an absence of trade barriers. Today, the EU has taken on the roles of international judge, banker, and legislator; making rules and setting precedents that all member countries are obligated to follow.

Why has the UN failed to keep the world peaceful? If countries like the United States reduced their militaries in compliance with UN guidelines, would it be likely that there would be fewer wars and less bloodshed?

Because their policies do not keep people from fighting and nothing can stop all war. No, this would not decrease bloodshed, rather there would be more bloodshed in the case of war because the U.S. could not protect themselves.

Why has mankind been eager to build a world system apart from God?

Because they want to "worship" themselves and put themselves first.

How has the UN encouraged totalitarian aggression and wars?

By enforcing trade with totalitarian governments and not discouraging their aggression.

GATT

General Trade Agreement on Tariffs and Trade, regulations that guided international trade before WTO's establishment in 1995.

Explain the statement, "People who trade don't fight." Has this assertion proved true?

If two parties are trading with one another they will not fight. No, many trading partners have fought in the past.

What is the difference between multilateral and bilateral trade agreements? Which kind would be better for the United States?

Multilateral includes two or more parties whereas bilateral are between only two parties. Bilateral so that the U.S. can preserve their right to deny trade with parties that oppose their values.

What are some recent issues in the news regarding globalization?

Issues involving environmentalism like the key-stone pipeline and the Paris Climate Agreement.

What advantages do bilateral trade agreements have over multilateral ones?

It allows countries to have favorable trade alliances while also allowing them to discourage other unfavorable alliances.

How might the proliferation of trade with countries like China actually be helping totalitarian governments to oppress their citizens?

It supports these countries' totalitarian governments financially instead of enforcing consequences for their actions.

What are some problems that could arise from taking money from rich nations and giving it to poor ones? Would it be likely that the overall wealth of the world would be improved if every nation had an equal amount of wealth per person.

Nation's economies would suffer and there would not be enough production to support the whole world.

Does the desire for free trade justify the existence of organizations such as the WTO and the EU?

No, free trade is possible and better executed without these organizations and their regulations.

Would a law maker be justified in misleading the public in order to achieve certain goals that he believed to be right?

No, if the lawmaker is wrong it will effect everyone. Because everyone is effected everyone should have the truth and be able to make their own decision.

Is the threat of world disapproval sufficient to keep nations in line?

No, many nations will pursue their own interest indifferent to world disapproval.

Is being "fair" an important consideration when deciding how to distribute resources and with whom to trade?

No, not all nations should be treated the same. Some governments are immoral and abusive and should be treated as such.

Is the WTO's "most-favored nation" policy a fair one? Should "fairness" be the most important consideration for the countries wishing to establish trade with each other? Are there any other issues that should be considered more important?

No, preserving one's nation and freedom should be the most important consideration. Being able to be "unfair" to some nations who threaten the safety of one's nation is necessary.

NAFTA

North American Free Trade Agreement, regional trade agreement adopted by the U.S., Canada, and Mexico in 1993.

Why have the advocates of world unification chosen to stress the supposed economic benefits of globalism? Do you suppose there are many people who would overlook the loss of national sovereignty if they thought that globalism would improve their financial condition?

People will be more willing to support a global organization if it benefits them economically.

What can Americans do to ensure their nation's continued prosperity and to regain national sovereignty?

Resisting global organizations' control on their governments and freedoms.

How does globalism threaten the freedom and prosperity of American citizens? Give examples of some freedoms that might be lost if the US surrendered the management of its government and economy to a global entity like the UN?

Taxes, trade alliances, environmentalism practices, socialist policies, loss of choice to buy and sell as people see fit, etc.

Identify the EU's first official currency.

The Euro.

EU

The European Union, a closely knit alliance of the countries of Western Europe that controls many of the region's economic, legislative, and judicial policies; modern descendant of an organization originally established to encourage free trade.

Identify the three main agencies of the UN and their purposes.

The General Assembly discusses and vote on international problems and the allocation of funds. The Security Council decides on UN involvement in national and international conflicts. The Economic and Social Council studies economic and social problems and advise the UN's agencies.

Identify the two institutions of the World Bank.

The International Bank for Reconstruction and Development and the International Development Association.

Identify the agreement designed to decrease CO2 and reduce greenhouse emissions.

The Kyoto Protocol.

Identify the three original members of NAFTA.

The U.S., Canada, and Mexico.

What arguments could you give to refute the idea that the U.S. should adhere to UN principles by diminishing the size of its national military?

The UN's forces are ineffective and could decide not to help the US in the case of war.

National Sovereignty

The exclusive power of an independent state to rule and regulate international affairs without foreign interference.

UN

United Nations, a global organization whose original purpose was the promotion of world peace and economic prosperity.

The push for globalization in the 20th century became prominent around the time of which war?

WWII.

WTO

World Trade Organization, an agency that purposes to assist the free flow of trade among nations, help countries establish free trade through negotiations and resolve trading conflicts. This organization is an outgrowth of the general agreement on tariff and trade.

History has shown that dictators are notorious for eliminating those who oppose their regimes. If the world were to adopt a one-world government, do you believe that the new world leaders would be equally eager to squelch anyone who stood against their administration?

Yes, they would want to maintain power and would stop any opposition.

Globalism

a philosophy which regards the entire world as one giant community that should be unified politically and economically