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Prelim 2 - Global Economy and Market Integration

The document outlines the copyright notice and disclaimer for a lecture on the global economy and market integration. It covers topics such as economic globalization, types of economies, market integration development, and the roles of capitalism and socialism. Additionally, it discusses the impact of transnational corporations and the historical phases of economic development.

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Kenneth Alcoran
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44 views22 pages

Prelim 2 - Global Economy and Market Integration

The document outlines the copyright notice and disclaimer for a lecture on the global economy and market integration. It covers topics such as economic globalization, types of economies, market integration development, and the roles of capitalism and socialism. Additionally, it discusses the impact of transnational corporations and the historical phases of economic development.

Uploaded by

Kenneth Alcoran
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Copyright Notice

You may not copy, reproduce, distribute, publish, display, perform,


modify, create derivative works, transmit, or in any way exploit any
such content, nor may you distribute any part of this lecture over any
network, including a local area network, sell or offer it for sale, or use
such content to construct any kind of database. Copying or storing
any content except as provided above is expressly prohibited without
prior written permission from the instructor.

Disclaimer
The content contained in in this lecture is provided only for
educational and informational purposes. The instructor attempts to
ensure that the content is accurate and obtained from reliable
sources, but does not represent it to be error-free.
The Contemporary World
Lesson 2 – Global Economy and Market Integration
Overview of the Lesson
1. The Global Economy and Economic Globalization
2. Types of Economies in Economic Globalization
3. Global Free Trade
4. The Development of Market Integration
5. International Trading System
6. Neoliberalism
7. Transnational Corporations
Economic Globalization
Global Economy
international exchange of goods and
services
free movement of goods, capital,
services, technology, and information.
Economic Globalization
Interdependence of world economies
Historical process
Integration of economies
Types of Economies
Free Trade Protectionism
 trade practices that impede the  preferential treatment to
free flow of goods and services domestic producers and
from one country to another are discriminating against foreign
removed or reduced. competitors.
Development of Market
Integration
Identify the phase of the
development of market integration
(agricultural revolution, industrial
revolution, information revolution)
1. People started working in factories
as wage laborers and became more
specialized in their skills.
2. Farming helped societies build
surpluses, meaning not everyone
had to spend their time producing
food.
3. People learned how to
domesticate animals and plants.
4. In this period, jobs are distinguished as
primary labor market (white-collar
professions) and secondary labor market
(blue-collar professions).
5. This is a period wherein technology has reduced
the role of human labor and shifted it from a
manufacturing-based economy to one that is based
on service work and the production of ideas rather
than goods.
Capitalism or Socialism?
1. It emphasizes profit maximization and
competition as the main drivers of
efficiency.
2. It rejects the private property and
hands-off approach.
3. A system wherein the means of
production are under collective
ownership.
4. A system in which all-natural
resources and means of production
are privately owned.
Transnation
al
Corporations
Questions? Insights?

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