Not really a “3 things I learned in Global Econ this semester,” but pretty close. This student (with some suggested fixes from myself) wrote on one of the more recent things we learned – the causes of the Euro crisis – arranged around 3 main explanations. And, they found some great graphs to illustrate it!
By 2007-08, the world had been hit by the global financial crisis, and the Eurozone was no exception. Ireland was the first country to fall, with their crisis beginning in 2007, and is now facing some of the most stringent austerity measures to be implemented. Then, after a lot of speculation and uncertainty, Greece came next. These countries, along with the other PIIGS (Portugal, Ireland, Italy, Greece, and Spain) have not been able to bounce back from the crisis as their other EU counterparts Germany and France have.
Why not? Some reasons could be attributed to behaviors prior to the crisis. These factors hint at some continued weakness of the Southern European area, and should make us question whether the signs of a recent Eurozone recovery may only be a temporary thaw.
So, let’s take a look at what caused this crisis. Continue Reading
Continuing the theme of wrapping up the semester class, here is another student post on what they learned in our Politics of the Global Economy class. While the last guest post by a student focused on more general trends, this student chose to focus her write-up on China’s recent development.
One major thing I have learned this semester is that China’s economy IS NOT all that it’s cracked up to be. I had previously believed, much like many others in America, that China had the “best” economy.
Based on Gallup poll data, Americans now believe China to be the global economy leader.
This semester I learned that I was entirely wrong. Continue Reading
It’s been a while since the last post on this subject, but here’s another write-up by one of the undergrads in the Politics of the Global Economy class on the internet meme “first world versus third world” problems. This one covers issues regarding the lights going off in both sets of countries.
The internet is a strange and daunting place, overrun with cats demanding bovine snacks, baby monkeys riding on pigs, and gifs of poor chaps maiming themselves in highly unfortunate manners. However, amidst all of this silliness, cute and hilarious as it may be, there are some rather thought provoking memes that occasionally rise up from hustle and bustle of the interwebs. First world problems highlight the disparity between the problems that developed societies experience, the more petty, the better. For a meme with its tongue planted firmly in its cheek, memes of this variety can provide a sobering, but ironically humorous take on the daily qualms people complain about, especially when compared to a real third world problem, which is exactly what I intend to do.
Laziness is a common theme on the internet. That lack of wanting to be a productive member of society is quite alluring at times. However, this particular meme highlights a specific issue, the reckless disregard of the conservation of energy resources and lack of concern for the privilege of having consistent lights in one’s abode, let alone one’s bedroom.
Perhaps this gentleman would prefer to live in Zambia, where, on occasions, the lights will turn themselves off. Africa’s developing power infrastructure is often rather sketchy, leading to abrupt blackouts on a regular basis. For Nigeria alone, the black outs cost 1 billion dollars per year. The one plus side to this would be that it would allow Mr. Lazyman to lie in bed all day long without getting up to turn off a light, if he so desired…. Assuming he doesn’t require air conditioning to continue his resting, though one might doubt that he would have the willpower to simply open a window. Continue Reading