Davies ppt may 2010 chc

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In this unique Capitol Hill Campus course, Dr. Antony Davies of Duquesne University conducted an interactive “economic experiment”, to demonstrate firsthand how individuals and markets relate.

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  • Outliers from top down : Luxembourg, Belgium, Ireland, Netherlands Outliers on bottom right (right to left) : Japan, US
  • Davies ppt may 2010 chc

    1. 1. The Fundamentals of Trade Capitol Hill Campus May 21, 2010 copies of this presentation can be found at www.antolin-davies.com
    2. 2. Protectionist Assumption : Trade leads to a centralization of political power, decreased competition, and the concentration of wealth. Free Trade Assumption : Trade leads to a decentralization of political power, increased competition, and the dissemination of wealth.
    3. 3. Source: International Financial Statistics , International Monetary Fund, December 2001 Greater per-capita trade is associated with greater per-capita income.
    4. 4. Source: International Financial Statistics , International Monetary Fund, December 2001, and Measuring Income Inequality: A New Database , Deininger, Klaus, and Lyn Squire, World Bank, 2002 Greater per-capita trade appears to be a necessary condition for more equitable income distributions…
    5. 5. Source: International Financial Statistics , International Monetary Fund, December 2001, and Measuring Income Inequality: A New Database , Deininger, Klaus, and Lyn Squire, World Bank, 2002 … and this also appears to hold among the poorest countries. Thailand Lithuania Fiji Ukraine
    6. 6. Greater per-capita trade is associated with greater caloric intake. recommended Source: International Financial Statistics , International Monetary Fund, December 2001, and World Development Indicators , World Bank, 2002
    7. 7. Source: International Financial Statistics , International Monetary Fund, December 2001, and Human Development Report , United Nations Development Programme, 2002 GDI measures quality of life (longevity, education, literacy, income) for women relative to men. Greater per-capita trade is associated with greater gender equality.
    8. 8. Source: International Financial Statistics , International Monetary Fund, December 2001, and World Development Indicators , World Bank, 2002 Greater per-capita trade is associated with reduced child labor.
    9. 9. Source: International Financial Statistics , International Monetary Fund, December 2001, and World Development Indicators , World Bank, 2002 Even among middle-lower and lower income countries, greater per-capita trade is associated with reduced child labor.
    10. 10. Source: Bureau of Labor Statistics, and Bureau of Economic Analysis Greater per-capita trade is associated with reduced unemployment. U.S. Unemployment Rate U.S. Trade On average, a 1 percentage point increase in trade is associated with a ½ percentage point reduction in unemployment.
    11. 11. Source: Bureau of Labor Statistics, and Bureau of Economic Analysis Greater per-capita trade is associated with increased real wages. U.S. Trade U.S. Average Real Hourly Earnings (2000$) On average, a 1 percentage point increase in trade is associated with a $0.25 per hour increase in real wages.

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