TEXT 1 F. WHO NEEDS ONE BIG MARKET?



I Read Text 1F and give titles to each paragraph

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 (1) It is remarkable that the prospect of One Big Market—planetary, inescapable, open all hours—raises no questions for libertarians, who scorn the idea of One Big Cartel (communism) or One Big State (world government). This seems an interesting case of social blindness. If One Big Cartel is impossible or not worth the trouble its creation entails, why should One Big Market be different? And what if something very like One Big State is needed to build One Big Market? Yet libertarians allergic to the very word “society” can expatiate endlessly on unexplained “markets” and that reified entity, “the market.”

(2) In a world where “free trade” amounts to American-led “globalization,” such views are gospel in libertarian think tanks. For Leftists, globalization entails terrible evils. The Leftists are not exactly wrong, and the damage done under neo-liberal slogans strengthens their case. Marx’s famous remarks on the sheer destructiveness of the process bear repeating. Neo-liberals take the destruction as a necessary step to some distant but better future.

(3) This is not new. Early liberals thought trade was good and more was better. But there was frequently mercantilism in their madness – he desire to force trade into particular channels. From the 16th century onward, mercantilism suited rulers keen to get revenue from overseas empire, and early liberal theorists helpfully proclaimed that foreigners’ refusal to trade justified war and invasion. Here, Vitoria is found on much the same page as Thomas Friedman; and early international law begins to resemble a general European agreement on rules for receiving property stolen overseas.

(4) One hears much of British “free trade,” a.k.a. British “free trade imperialism.” But was the trade or the adjective British the key to the alleged benefits? John Nye writes that because “Britain had an empire and relatively free trade,” a whole school of thought sees international free trade as a public good requiring a powerful leader, or hegemon . . . Yet the freedom in British trade is much exaggerated.

(5) Many economists still endorse violent institution of “spontaneous” orders, if covertly, along the following lines: first, impose an order meant to be largely self-regulating, once established – a “machine that will go of itself.” Having redistributed property titles and reformed institutions, we are done. Henceforth, we may concentrate on flexible price movements within the system, or fret about the downward rigidity of wages after 1929.

(Joseph R. Stromberg, The Independent Institute of Oakland)

 

Look through the texts of Unit I, examine articles on economics in Internet and prepare a presentation on one of the problems, given below. Use the following words and word combinations

ü The … subject (matter) … of my presentation …

ü The presentation … goes (inquires) into / focuses on / deals with…

ü My report is devoted to the questions (problems / issues) of …

ü The aim of my presentation is to find some optimal ways of…

ü The present research is aimed at …

ü The following tasks are to be solved in my research:

1. To discuss the problem of …; 2. To discuss the main ways of …; 3. To characterize …; 4. To analyze ….

 

ü The books and articles of the following authors constitute the theoretical basis of my research:

ü In this study … I (we) have adopted / applied an innovative approach to testing/ modeling…

ü I (we) develop / offer / provide / rely on / try / work out / use a method of.

ü Our analysis / investigation … is based on evidence / calculations / estimates of …

ü In this presentation, I attempt to clarify the relation of … . To do so, I first present … then attempt to show that… . In conclusion, … is considered.

ü The purpose … is to improve knowledge of …

ü We aim … to determine whether … differs from … .

ü I shall concentrate … on exploring.

ü I (shall) start / begin / continue / end / finish / close with.

ü Second / Finally … we are going to see / examine whether.

ü In closing, … I want to discuss / to make a proposal that.

ü It … might be wise to begin with / shows / would be fair to presume that …

ü We are faced with the problem of … defining / finding an explanation for …

ü I will return to the question after first explaining / discussing … .

ü Thus the problem of … is a serious and important one.

ü To conclude, my presentation has explored / investigated / shown / established … .

ü Summing up the results of the conducted analysis the following conclusions can be made: …

ü I want to end my presentation ... by repeating / stressing / emphasizing / nothing that … .

ü The conclusion of my presentation … reveal that / will help illuminate / explain … .

ü The main conclusion is that … are connected with each other.

 

 

Themes of Presentations: 1. Marketing Performance 2. Australian Economy 3. Economic Growth Programme (USA) 4. The Secrets of Chinese Economy 5. Economic Development Organisations  

 

 


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