Week 2

Question 1

Transnational corporations (TNCs)

Answer 1

?

Question 2

Exporting environmentalism

Answer 2

Ronia Garcia-Johnson, Transnational corporations
that invest in the South also tend to employ higher environmental
standards than local laws require.
Due to shareholder and consumer pressure, internal codes of conduct and risk-management strategies & resulting efficiencies

Question 3

Watson

Answer 3

Historicizing Ricardo’s comparative advantage theory, challenging the normative foundations of liberal International Political Economy, 2017

Question 4

Theory of absolute advantage

Answer 4

Adam Smith, each country is the best at producing something

Question 5

Theory of comparative advantage

Answer 5

David Ricardo, it is about the relative price of the goods. Even if one country isn’t the best at producing anything, trade will still maximize their options. It is a comparison between absolute autarky and free trade

Question 6

Ricardo’s example to illustrate the comparative advantage

Answer 6

hypothetical situation where Portugal trades wine with England for cloth

Question 7

Historic context of Ricardo’s comparative advantage

Answer 7

There was a trade deficit between England and Portugal (Brazil, Portugese colony was used to settle this deficit).

Question 8

Methuen treaties

Answer 8

1703, enshrined in British public consciousness as a marker of the successes of the English’ commercial policy
Wine wasdominated by English merchants, they had both the money and the shipping capacity

Question 9

Third methuen treaty and the transatlantic slave trade

Answer 9

As the Portugese had a trade deficit, they used the gold found in their colony to pay for the deficit. This gold was part of the transatlantic triangle trade, of which the boats were first used to transport slaves to the colonies from Africa.