Introduction to

Globalization Part I
THE POLITICS AND BUSINESS OF WORLD ECONOMY.
NORBERTO M. SECRETARIA, PH.D. (OG), MBA, AB

 Justice is the interest

of the strong
-THRASYMACHUS

Economic concepts

Economic Protectionism

Economic Nationalism

Economic Liberalism

Economic Merchantilism

Mercantilsm
Is

an economic theory and practice, dominant in

Europe from 16th to 18th Century.

Promotes

governmental regulations of a nations

economy for the purpose of augmenting state
power at the expense of rival national powers.

The

economic counterpart of political absolutism

or absolute monarchies.

Augment Defined

Oxford Dictionary..

VERB

Make (Something) greater by adding to it; increase

He augmented his summer income by painting houses

Synonym: increase

Mercantilism
Is

an economic theory and practice, dominant in

Europe from 16th to 18th Century.

Promotes

governmental regulations of a nations

economy for the purpose of augmenting state
power at the expense of rival national powers.

The

economic counterpart of political absolutism

or absolute monarchies.

Characteristics of mercantilism

Forbidding colonies to trade with other nations;

Monopolizing markets;

Banning export of gold and silver, even for payments;

Forbidding trade of gold carried in foreign ships;

Subsidies on exports;

Limiting wages; and

Maximizing the use of domestic consumptions through non-tariff

barriers to trade.

Economic Liberalism

Is the ideological belief in organizing the economy on individualist and

voluntarist lines, meaning, that the greatest possible number of
economic decisions are made by individuals and not by collective
institutions or organizations.

With strong support on market economy.

Characteristics of Liberalism

Capitalism

Free trade

Private Property

Market Economy

Economic Nationalism

Is a body of policies that emphasize domestic control of the economy,

labor, and capital formation, even if this requires the imposition of
tariffs and other restrictions on the movement of labor, goods and
capital.

In many cases, economic nationalist oppose GLOBALIZATION or at least

question the benefits of unrestricted free trade.

Tariff defined

Is a tax imposed on export and imports

Used to restrict foreign products from infiltrating the local markets.

Economic Nationalism

Is a body of policies that emphasize domestic control of the economy,

labor, and capital formation, even if this requires the imposition of
tariffs and other restrictions on the movement of labor, goods and
capital.

In many cases, economic nationalist oppose GLOBALIZATION or at least

question the benefits of unrestricted free trade.

Characteristics of Economic Nationalism

Trade restriction on foreign products

Priority on Domestic Products

Communism and democracy

Communism is a political theory derived from Karl Marx, advocating class

war and leading to a society in which all property is publicly owned and
each person works and is paid according to their abilities and needs.

Command Economy

Economic Nationalism

Economic Protectionism

Democracy is a system of government by the whole population or all the

eligible members of a state, typically through elected representatives.

Market Economy

Economic Liberalism

Free Trade

Democratization

Is the process by which non democratic countries are

converted into a democracy.

Ex.

Invasion of Iraq

Turmoil in Egypt, Libya and Bahrain

Fall of Soviet Union/ United Soviet Socialist Republic in 1991

Economic Interdependence

Oxford Dictionary of Archeology 2nd Edition

Is based on the concept that in the division of labor, individuals depend on

others to produce all or most of the goods they need to sustain their lives.

Sukat-10 natin!!
Kumuha

ng na papel.
Isulat ang inyong pangalan at
petsa sa araw na ito at sagutin
ang mga tanong na ipapakita sa
TV screen.

Sukat-10 natin!!
Mayroon

lang kayong 5 minuto na

sumagot sa mga katanungan.
Bawal ang mag-usap o mangopya.
Sino mang makitang lumalabag nito
habang may pasulit ay magkakaroon ng
automatic Zero(0)point sa aktibidad
na ito.

Questions:
1.

Sino ang nagkonsepto ng Kumunismo?

2.

Ano ang tawag sa prosesso ng pagiging demokrasya ng mga

hindi demokrasyang bansa?

3.

Ano ang tawag sa konsepto na ang bawat indibidwal ay

nangangailangan ng ibang tao upang makamit ang kanyang
mga pangangailangan?

4.

Ito ay ang buwis o tax na ipinapataw sa mga kalakal na

iniimport.

5.

Ito ay uri ng polisiya sa ekonomiya kung saan ay binibigyan

ng prioridad ang lokal na industriya at mga mamamayan ng
isang bansa.

Mga Sagot:

Mga Sagot:

Karl Marx

Democratization

Economic Interdependence

Tariff

Economic Nationalism

End
Next topic: Continuation on the introduction of Globalization (Economic
Interdependence, APEC, ASEAN, EU, WTO, GATT and OPEC)