1. Contrast the views of economists and the American people on the issue of world trade.
2. Describe the stages of the policymaking process.
3. Explain the difference between moral idealism and political realism and how both have been incorporated into American foreign policy.
1.Nowadays world trade is a very complicated phenomenon because it is not just an economic but also a social, political, environmental, labor, and legal matter. Economists care about world trade because economies are getting more and more open and world trade is related to the properties of open economies. The issue of world trade is related to many issues that the world economies are facing: Resource allocation, income distribution, employment, production, consumption, government revenue, economic growth, and economic welfare. Economists believe in the merits of world trade and feel that it would be beneficial, particularly with regard to lowering trade barriers. In the view of economists, a right trade policy will enhance the economic welfare and growth of the economy in a more harmonious and equitable way. For them, expanding international trade correlates with economic growth. In general, Americans view world trade as having some benefit for the economy. However, the majority view it as negative because of the way that it is put into practice. They see it as being more ...
The following topics are discussed - the US & world trade, the stages of the US policymaking process & the effects of political realism and moral idealism in US foreign policy.