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Post #10: (December 9, 2016) -- From Iowan Soybeans to a Whole Iowan Farm

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Post #10: (December 9, 2016) -- From Iowan Soybeans to a Whole Iowan Farm

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http://www.nytimes.com/2016/12/09/world/asia/china-iowa-farm-branstad-xi.html?ref=asia

Summary:
President Xi was impressed with the Kimberleys' farm, so he wants to build a replica of their farm in China. He hopes that with building a replica farm, the Chinese can learn about more efficient farming methods and equipment. But, Chinese land management may make building that farm difficult.

Class connection:
Instead of creating their own improved farming practices, Chinese officials have elected to borrow farming techniques from someone else. This exemplifies how nations are like Babbitt; instead of creating original ideas, a country's leaders decide to borrow ideas that have already been used and are shown to be successful.

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Post #9: (December 5, 2016) -- Africa's Trade Deal is Potentially Scrapped 

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Post #9: (December 5, 2016) -- Africa's Trade Deal is Potentially Scrapped 

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http://foreignpolicy.com/2016/12/05/the-u-s-finally-did-something-right-in-africa-and-its-about-to-stop/

Summary:
Lesotho benefited from a trade deal (AGOA), but it may get cut because Lesotho hasn't adopted Western styles of governance. Many in Lesotho have become dependent on AGOA, like factory owners and workers (especially women). Without AGOA, they, especially workers, will be left without resources and viable alternatives.

Class connection:
Development isn't "one size fits all", and taking away AGOA hurts Lesotho's path to development. Just because their path to development hasn't looked like a Western country's, doesn't mean that Lesotho has done something wrong. Lesotho needs help fixing issues (like human rights violations), not aid denials.

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Post #8: (December 5, 2016) -- Trump's Proposed Financial Reforms Make Bankers Glee

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Post #8: (December 5, 2016) -- Trump's Proposed Financial Reforms Make Bankers Glee

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http://www.economist.com/news/finance-and-economics/21710806-presidential-election-may-signal-big-changes-way-finance

Summary:
Many bankers had feared Trump’s election, but after hearing his propositions, they’re quite happy. Potential appointments include individuals with important financial connections, and every new regulation would require two regulations to be repealed. Trump also has the power to change other departments, potentially favoring the financial sector.

Class connection:
This reminds me of Inside Job. The financial sector rejoiced at the lax regulations, which were detrimental to the public. I feel getting rid of regulations would cause something similar; the financial sector would put profit over long-term stability, and the public will pay the price for that carelessness.

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Post #7: (November 25, 2016) -- Poor Venezuelans Struggle Coping With a Failing Economy 

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Post #7: (November 25, 2016) -- Poor Venezuelans Struggle Coping With a Failing Economy 

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http://www.nytimes.com/2016/11/25/world/americas/hungry-venezuelans-flee-in-boats-to-escape-economic-collapse.html?src=me&_r=1

Summary:
President Hugo Chavez wanted to help poor Venezuelans, but he drastically hurt the economy. The Venezuelans with good jobs and/or a lot of money left. Those that couldn't have coped with inflation, food shortages, and more crime. Many poor Venezuelans are desperate to leave, which has proved difficult.

Class connection:
Venezuela's economy's downturn prompted brain drain. Those that could have revitalized Venezuela's economy (like lawyers and engineers) through spending and providing services, have left. So now Venezuela is left with its poorest and most disadvantaged citizens, who don't have the resources or knowledge to reinvigorate the economy.

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Post #6: (November 24, 2016) -- Indian Rupee Ban Turns Indian Economy Upside Down

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Post #6: (November 24, 2016) -- Indian Rupee Ban Turns Indian Economy Upside Down

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http://www.nytimes.com/2016/11/24/world/asia/india-currency-narendra-modi.html?ref=world

Summary:
The 500 and 1,000 rupee bills were banned in India by the Prime Minister. Many Indians, including merchants, have been hard-hit. There has been a sharp decline in Indian business. Even if merchants wanted to move forward with cashless transactions, they lack the resources necessary for such a transition.

Class connection:
This is an example of how India is behind the technological frontier. Their merchants can't quickly adapt to a changing economy that's more reliant on technology, and India's economy will suffer until most merchants and individuals have successfully transitioned. Their growth is dependent on the kind of technology they have.

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Post #5: (October 15, 2016) -- Privatizing Health Care in Africa

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Post #5: (October 15, 2016) -- Privatizing Health Care in Africa

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http://www.nytimes.com/2016/10/09/business/dealbook/an-investors-plan-to-transplant-private-health-care-in-africa.html?ref=africa

Summary:
A member of a Dubai investment firm plans on investing in hospitals in Africa for profiting off the need for decent healthcare, especially for middle class individuals. Though he says he puts social benefit before profit, he states he can't provide care to those who can't afford to pay.

Class connection:
This is a good example of the (potential) impact of FDI. Sure, investing in a hospital could bring about financial growth, but what about those who can't afford private healthcare? They get left behind while investors make a pretty penny. Depending on who you are, you'll either benefit or lose.

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Post #4: (October 15, 2016) -- European Countries Rethink Their Economy 

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Post #4: (October 15, 2016) -- European Countries Rethink Their Economy 

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http://www.nytimes.com/2016/10/08/business/international/europe-economy-budget-austerity.html?ref=economy

Summary:
After tightly controlling spending and not seeing great results, some European countries are turning to increased spending to reinvigorate their economies. Some countries have looked to past and current successes, but the path to economy stimulation is complex and easier said than done.

Class connection:
This reminds me of the economic shift of the 1970's, though this time around, it's a Hayekian shift to a more Keynesian shift. They're responding to their economic troubles with the hopes the "opposite" economic approach will lead to a better and stronger economy.

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Post #3: (October 15, 2016) -- Saudi Arabia's Dangerous Dependency on Oil

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Post #3: (October 15, 2016) -- Saudi Arabia's Dangerous Dependency on Oil

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http://www.nytimes.com/2016/10/14/world/middleeast/saudi-arabia-oil-prices-economy.html?src=me

Summary:
Saudi Arabia is highly dependent on oil, which led to an economy that lacks diversity. To compensate for lower oil prices, the government made cuts, which with higher prices, has impacted many people. Saudi Arabia will have to re-evaluate their economy and diversify it to offset their economic troubles.

Class connection:
What happened to Saudi Arabia reminds me of one of the criticisms of comparative institutionalism. They took what they were good at and what the global market needed (oil), but their path dependency on oil has left them vulnerable to changes in their economy, which now they're paying for.

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Post #2: (October 15, 2016) -- Black Money in India

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Post #2: (October 15, 2016) -- Black Money in India

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http://www.bbc.com/news/world-asia-india-37640399

Summary:
India has issues with black money, so they decided to give a tax amnesty to motivate individuals to report their unreported money. Though some took advantage of the amnesty, many more did not, which still leaves India with lots of black money and an inaccurate GDP.

Class connection:
India’s issue with black money and their GDP shows one of the reasons why GDP isn’t that great. India’s economy relies heavily on cash transactions (even for very large purchases), which aren’t recorded in the GDP. All that unaccounted money also means India loses out on valuable tax dollars.

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Post #1: (October 15, 2016) -- Haiti and Florida After Hurricane Matthew

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Post #1: (October 15, 2016) -- Haiti and Florida After Hurricane Matthew

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http://www.bbc.com/news/world-us-canada-37584632

Summary:
Hurricane Matthew’s aftermath highlights that Haiti wasn’t as prepared as Florida when it came to damage prevention, infrastructure, and governmental response, which contributed to more damage and disorganization in Haiti than in Florida. Haiti lacked the resources to effectively deal with such a large and deadly natural disaster.

Class connection:
In his dependency theory, Gunder Frank discusses how undevelopment led to development for some (like the US) and underdevelopment for others (like Haiti). Because Florida is much more developed, they have more resources. Haiti, on the other hand, has to scrape by with minimal resources, even in times of need.