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Sustainable prosperity

Sustainable prosperity. Pages. 286-290. What political and economic challenges and opportunities are associated with globalization.

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Sustainable prosperity

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  1. Sustainable prosperity Pages. 286-290

  2. What political and economic challenges and opportunities are associated with globalization Governments businesses, communities and individuals are faced with both challenges' and opportunities as a results of rapidly expanding globalization. A natural or human made disaster can present problems for that country and their trading partners. Friedrich Hayeks and Milton Friedman's ideas of insuring freedom and prosperity by having a market economy that is free of government control. With having the world expand at this rate, does it have more positives or negative on us?

  3. Economic growth and sustainable prosperity • Economic growth depends on business to produce more goods and services faster as well more efficient at a lower price. Because so many countries are trying to achieve the same goals competition is fierce. One way of measuring growth is by tracking changes in GDP from year to year. Economic growth and the living standards of a country’s people depend on the success of the country.

  4. Trade liberalization and sustainable prosperity. • People believe that economic growth inspired by trade liberalization is the best way to ensure prosperity. “ trade liberalization is the most important element to promote sustained growth for industrialized countries”. Trade liberalization may bring new prosperity for some, but we must be honest and admit that it will destroy the lives of others. • What affect does trade liberalization have on the individuals within their country?

  5. Subsidizing farmers • Governments have grants that keep food prices low, because farmers do not need to pass on all their production cost, to consumers. “Who do you think does and does not benefit from farms subsidies?” some people say that liberalize trade in agricultural products would help the economics of developing countries. In the late 2005, the world bank predicted that is all tariffs, subsidies, and other supports for agriculture were abolished, the global economy could grow by 200 billion in the next ten years.

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