While referring to the %u201CEYE on YOUR LIFE%u201D section on page 467 of the t

Question

While referring to the %u201CEYE on YOUR LIFE%u201D section on page 467 of the textbook, consider the trade policies that serve our self-interests and what best serves the global social interests. Base your answer on the economic concepts you have learned in this course. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

For example, as U.S. consumers, we are the %u201Cwinners%u201D in globalization, which has brought iPods, Wii games, Nike shoes, and a wide range of other products to our shops at low prices. However, the big %u201Closers%u201D of globalization include the U.S. textile workers and furniture makers whose jobs disappeared overseas. Other %u201Closers%u201D include the African farmers whose crops were blocked by trade restrictions and subsidies in the United States and Europe.

What global social interests or responsibilities, if any, do we have as consumers to the losers of globalization? Discuss and justify your postings and responses with other students in our course.

Explanation / Answer

Being consumers we always emphasise on the products quality rather than the origins the benefits that it causes to people involved in it making and IMPORTATION AND EXPORTATION.

Being consumers we must be aware of who owns the patent of the particular product and who actually derserves the credit.

for example the patent of the high quality rise grown in the himalayas is with the USA whereas it origibnated in INDIA is a product of INDIA but we have to pay for growing it as the patent les with the USA.

being consumers we must be aware of this fact wether the cost that we pay for the good s that we buy goes to the person who derseves it or the companies which are already rich with the money of these poor losers.

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