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Saudi cultural ideologies are being challenged by a recent influx of oil wealth that has been accompanied by "unfamiliar customs and technologies like television, public education and driving". Due to all these new customs, came the need for women to be given more rights such as ability drive and be overall more valued in Saudi culture. I am reminded of a Wallerstein quote that states “there are stages in development of social structure"; and having human capital being valued and used to its full potential by not excluding a segment of the population will assist Saudi in becoming more developed. ~

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The U.S. has made it harder for Canadian company Bombardier to import jets into the U.S. There is anger amongst Canadian diplomats claiming these new sanctions will hurt Canadian economy and only help U.S. The main issue regarding this is that it gives Boeing (a U.S. company) more opportunity to make and sell their products inside the country. This is related to the "Dependency theory" because the U.S. hopes to advance but this comes at the expense of Canada. This also weakens the relationship between the two countries which could negatively effect the "working relationship" between the two. ~

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Due to rising tensions between the U.S. and North Korea, the U.S. treasury department put sanctions on eight north Korean banks and 26 individuals. This shows classical economics at work, where the state is making decisions that will effect the market. The U.S. is purposely trying to "squeeze" North Korean economy in response to their consistent nuclear missile testing. This article shows the importance of global business; and when you take away, in this case, only a portion of North Korea's global reach, the major impact that will have on a country.  ~

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The European Union is putting pressure on all foreign countries that are harboring Amazon and Apple, to collect the unpaid taxes from both companies. This article immediately made me think about FDI and the constant question that gets asked "Is FDI good". Here is another case where the water gets even murkier; There are obvious benefits from huge companies like Amazon and Apple taking their business to these foreign countries, but when they abuse tax breaks or other “loopholes” it only hurts these foreign economies while also creating frustration and mistrust amongst these countries and companies.  ~

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Sir John Cowperthwaite was a man versed in the classical economics but still saw the benefits of a free market economy with limited government intervention. His system was labeled "Positive non-interventionism" which meant, a system of governance stopping short of the Laissez fair method. Cowperthwaite recognized the need for a free market when managing the trade for food and raw materials, where he realized the lack of natural resources Hong Kong had. The article is a living example of the Invisible hand, free market helping bring investments into Hong Kong, which also ties into FDI and how important it is. ~

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Buying locally sounds good on paper, but when used frequently, it can have more than just economic repercussions. Localisation is the process of making and selling things in the country of origin. When things are made and bought locally, it helps the home country, but when you make something in a country and use parts from other countries that helps everyone. Globalization is key to success for all countries. Local production can create some angst amongst other nations being excluded, which can lead to them excluding their aid partners and the cycle will go on and no one will "win".

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Timothy Kohler and 17 other from Washington State University discovered wealth inequality patterns from thousand of years ago. The Scholars examined 63 archaeological sites and estimated the level of wealth inequality by studying house sizes. The article compares the Eurasia/Africa areas and "The Americas". From class and readings, we learn that financialization and income inequality go hand in hand. It would be interesting to do another study in addition to this one finding which of the two societies was more "financialized" and if wealth inequality is higher in that country. Inequality has been ongoing even if it wasn't identified.

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Post # 10 (November 11, 2017) "Turkey faces an economic dilemma that will have global implications" http://www.businessinsider.com/turkey-economic-dilemma-2017-11

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Post # 10 (November 11, 2017) "Turkey faces an economic dilemma that will have global implications" http://www.businessinsider.com/turkey-economic-dilemma-2017-11

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Turkey wants to expand the credit limit to spur economic growth; so the issue is where the money will come from. Foreign borrowing scares turkey due to the strength of their own currency in comparison to the U.S. dollar or Euro. Domestically, banks lending power depends on Turkish people's propensity to save, if that falters, the ability to lend decreases. This is a working example of how countries toe the line when trying to enhance their economy by determining where additional help will come from, foreign or domestic. Many factors come into play that affect not-only turkey, but the globe

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This article shows some marriage inequalities that exist between richer and poor earners and countries. Higher income earners, male or female, tend to be married at an older age. Stability and wealth are important amongst high income people searching for a mate. This applies to the inequality conversation being had in class, showing that even in marriage, your economic status will affect the age you get married or length of marriage, at times. economic Inequalities have a trickle down effect to all levels of a society.

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The rise of electric cars has been a slow but highly emerging trend around the globe. The push to decrease the amount of internal combustion engine cars being manufactured has been increased due to efforts by China. China is the leader in electric car sales and is putting major competitive pressure on Detroit auto makers to catch up and make electric cars as well. This article shows the importance of global competition. Due to this pressure being put on by a foreign nation, now American companies in Detroit must shift gears quick and or else stand to lose their customers.