SS02 - Chapter 6
SS02 - Chapter 6
INTRODUCTION:
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MODULE: SS02 – THE CONTEMPORARY WORLD
develop over time and how barriers to growth can be overcome if not
totally eliminated. While less developed countries share similarities, every
country is unique, which implies that though these theories may help
managed the decline, it may vary from country to country.
. 5 The Trickle-Down Theory – this theory claims that the initial benefits
of growth go to the rich, but in the process, it eventually trickles down to the
poor. For example, rich families buy local products and employ servants, etc.
This idea originated from Will Rogers as a jokea nd is often used today to
criticize economic policies.
.
. 9 New Growth Theory (endogenous) – this theory was developed by
Paul Romer and Robert Lucas who placed great emphasis on the concept of
human capital. It explains how workers with greater knowledge, education
and training can help to increase rates of technological advancement. They
argue that increasing capital does not necessarily lead to diminishing returns
as Solow predicted.
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MODULE: SS02 – THE CONTEMPORARY WORLD
. 10 Lewis Model – begins with the classical of Marx, but ends with a
much happier neo-classical result. It is a structural change model that
explains how
labor transforms a dual economy. The initial growth in the dual economy
is largely in the form of increased profits made available from underpayment
of wages. Instead of the inevitable crises of Marx, however, the dual
economy of Lewis eventually runs smoothly as a single economy under neo-
classical rules. Lewis model is explained using three (3) key assumptions.
First, the model implicitly assumed that the rate of labor transfer and
employment creation is proportional to the rate of capital accumulation.
Second, the model assumes that labor exists in rural areas while there is full
employment in the urban areas. And the third key assumption at variance
with reality is the notion of the continued existence of constant real urban
wages until the supply of small surplus labor is exhausted.
Summary:
ASIAN REGIONALISM
What is regionalism?
What is globalization?
Regional Integration
Table 2
Globalization Regionalization
Nature Promotes integration of Divides an area into
economies across state smaller segments
borders all around the
world
Market Allows many Monopolies are
corporations to trade on more likely to
international level; it develop.
allows free market Monopoly means
one producer
controls
supply of a good or
service, and where
the entry of new
producers is
prevented
or highly restricted.
Cultural and Acceleration Does not support
Societal Relations to multiculturalism multi- culturalism
through free and
inexpensive movement
of people
Aid Globalized international A regionalized area
communities are more does not get
willing to give involved in the
aids to countries affairs of other areas
stricken by disasters
Technological Globalization has Advanced
Advances driven great advances technology is rarely
in technology available in one
country or region.
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MODULE: SS02 – THE CONTEMPORARY WORLD
This regional power block appears to work fine, the member states
fit very well together because of the following factors:
There are many factors that are leading the Asian Region
into greater integration.
“We the nations and peoples of Southeast Asia must get together
and form by ourselves a new perspective and a new framework for our
region. It is important that individually and jointly we should create a
deep awareness that we cannot survive for long as independent but
isolated peoples unless we also think and act together and unless we
prove by deeds that we belong to a family of Southeast Asian nations
bound together by ties of friendship and goodwill and imbued with our
own ideals and aspirations and determined to shape our own destiny.”
He added that, “with the establishment of ASEAN, we have taken a firm
and bold step on that road.” (Tun Abdul Razak)
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MODULE: SS02 – THE CONTEMPORARY WORLD
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MODULE: SS02 – THE CONTEMPORARY WORLD
Regional Integration
New regionalism is
identified with reformists who
share the same values, norms,
institutions and system that exist
outside of the traditional order.
Likewise, their strategies vary
while some partners with
government institutions to have
their voices heard and influenced
policy making processes. In the
Philippines, we can associate
this scenario to party list representatives, to whom some groups pass
laws to protect and promote human rights. Influences of organizations
like the North America Free Trade Agreement (NAFTA) and other
NGOs in Latin America had enabled them to participate in forums,
summits and even dialogues to prime ministers and presidents. In
Southeast Asia, the organization of an ASEAN Parliamentarians for
Human Rights was in part the result of non-government organizations
and civil society groups pushing to prevent discrimination uphold
political freedom and promote democracy and human rights throughout
the region. (Claudio and Abinales, 2018)
Summary
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MODULE: SS02 – THE CONTEMPORARY WORLD
Any country will find it difficult to reject all forms of global integration, at the same
time, it will be hard for them to turn their backs on their region. Even if a country
who is a member of EU will leave, that country will still continue to trade with its
neighboring countries; hence, it will still be forced to implement the rules of EU.
Likewise, if any member will leave ASEAN, it is impossible to stop trading to its
neighbors. The history of regionalism shows that regional associations emerge as
new global concerns arise. With the current speed of how digital
technology influence globalization, the future of regionalism will be
dependent on the unforeseen immense change in global politics that
will emerge in the 21st century.
Video Links:
https://www.youtube.com/watch?v=3lVhDRyNBMQ
https://www.youtube.com/watch?v=o4olZrhQxOg
https://www.youtube.com/watch?v=q4_XpJYbK70
https://www.youtube.com/watch?v=RzS1UmANgt0
References:
Claudio, L and Abinales, P. (2018). The Contemporary World.
EDSA, South Triangle. Quezon City: C & E Publishing.
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