The article 2018 Nobel in Economics Is Awarded to William Nordhaus and Paul Romer talks about how these economists won a prize for the theory they coined as DICE (Dynamic Integrated Climate-Economy model) which talks about the only way our climate will not reap the benefits of its people is if the government comes up with a policy against it. 

This article ties directly into the globalization discussion on how social issues intertwine with economic ones as well. Government intervention for the people contributing to climate change would affect the amount of people polluting the environment in the first place. Without consequences from our government, injustice will persist or in this case climate change.

The article reminds me of the section of FDI covered in class. Due to Brexit, Britain is still looking to appeal to foreign investors in their country. They are keeping corporate taxes low and any companies willing to take over previous British companies will strike a deal in that. 

This is relevant to class because it is referencing a switch from the once Hayek form of increasing the amount of private institutions, to now a Keynes way of operating. Xi Jinping has already made it difficult for privately owned companies to borrow money from the banks and started making it easier for SOEs to advance in their abilities. 

This article is relevant because it references the Dependency Theory and how the South Eastern countries are benefiting from the rise of China in particular. Countries like Thailand are looking to improve airports to increase the number of passengers from metropole countries, in turn allowing more tourists to come in and boost their economy. 

This article is relevant to the class because it pertains to the Modernization Theory and the five stages of development. Arab countries are in the third stage (take off) where production has increased in the oil industry, but they haven’t branched out to other ways they can successfully develop. 

This article is relevant to class because immigration is discussed by Sanderson (2016). An increased immigration leads to an increase per capita income for the Global North and South. Unfortunately, this boosts’ both global economies, it widens inequities giving an advantage to developed countries. The U.S. could easily take advantage of this circumstance, but continuously decides not to.

Income inequality and the effects relate to several class discussions. Increases in inequities relates to the amount of poverty and people in personal economic crises in the country. Laborers predominantly make-up the lower wage earners and with less benefits such as health, it could directly affect productivity. 

Immanuel Wallerstein would scoff at this article. An increased reliance on capitalism in developed countries directly effects the periphery and semi periphery countries; it creates a bigger gap in inequity and increases the amount of unequal exchange. Although there is no history of a real solution, we must take other measures to improve the future of the global economy.