Question

In: Economics

Develop ideas and defend the position (against the stated motion) by posting a summary position of...

Develop ideas and defend the position (against the stated motion) by posting a summary position of at least 450 words

The motion is: " Overall, societies around the world have benefited economically from globalization. If countries were to restrict such processes as free trade and immigration, they would be worse off."

Solutions

Expert Solution

Solution:

Globalisation is the process of having effective trade relations among other counties of the world, where one must have the comparitive cost advantage while trading with other nations around the world. moreover in this process economy will be in the better off condition only by the price pariety and by the demand and supply forces.

whereas the policies such as Free trade and free imigration helps a country to enhance its economical gain through globalization. As Free Trade encourages nation to explore prospective market for their goods and services, and Free imigration helps the nation to have skilled labour with them to develop cost advantages. by reducing cost of production and deveopinng more effective production techniques one can develop and grow its production capacity to meet the export conditions wothout hampering its own needs and requirement. further more the foriegn currency inflow, puchasing power of the nation around the world increases which adjoins streanthing of monetary value.

So with the processes such as free trade and immigration, they would be worse off, its really not true. The society will evolve with the passage of time and few disadvantages that are seen in the short-run will curtail with the span of time.


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