While referring to the “EYE on YOUR LIFE” section on page 235 of the textbook, and the economic concepts you have accumulated during our course, consider the trade policies that serve our self-interests and what best serves the global social interests. For example, as U.S. consumers we are the winners in globalization, which has brought iPods, Wii games, Nike shoes, and a wide range of other products to our stores. However, the big losers of globalization include the U.S. textile workers and furniture makers whose jobs disappeared overseas and the African farmers whose crops were blocked by trade restrictions and subsidies in the United States and Europe.
After establishing your own proposed trade policy pertaining to global social interests and responsibilities, post and discuss your proposals. Include your recommendations regarding our responsibilities, if any, towards the winners and losers of globalization. Include our gains and losses from imports and exports in your proposal and address any additional costs which we, as consumers, may need to pay due to your proposals. Are your proposals worth the trade-off? Justify your proposals and respond to the proposals from your classmates.
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Discussion 6.2: Externalities in Your Life
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While referring to the “EYE on YOUR LIFE” section on page 259 of the textbook, think about the externalities, both negative and positive, which play a huge part in your life. Also, think about the incentives that attempt to align your self-interest with social-interests.
Discuss and post your responses to the two externalities addressed in this section, which included the gasoline tax and the incentive subsidized tuition. Justify your proposals and respond to the proposals from your classmates.
Should the gas tax be higher to discourage the use of automobiles? What are your responses to economists who recommend incentives to lower greenhouse gas (GHG) emissions? Should Americans be considered about GHG emissions when it’s predicted that by 2050, three quarters of carbon pollution will come not from the United States, but from developing countries?
Should school tuition be lowered to encourage more people to enroll in colleges and universities? If so, consider the effects on the quality and quantity of the education. Should the Federal and State governments offer additional subsidized incentives, paid by the taxpayers, to encourage more people to enroll in colleges and universities? Or do you believe that we have these incentives just about right in the social interests?
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