Archive for the ‘International trade’ Category

North Korea’s Capitalists   Leave a comment

This photo taken on July 28, 2013 shows customers shopping at a supermarket in Pyongyang. Chinese yuan, US dollars, euros and tea bags. Money can come in many forms in North Korea, but as a foreign visitor you'll probably never even see a local banknote, let alone use one. AFP PHOTO / Ed Jones (Photo credit should read Ed Jones/AFP/Getty Images)Link:

Summary: Learn about a little group in North Korea, called the ‘donju.’ The economic prosperity that they developed went on to support the country’s nuclear program and contributed to the growth of their economy. This was all made possible when Kim Jong Un began allowing consultants from overseas to educate  North Korean entrepreneurs on accounting, trade, and management. They did this without daring to actually call it a spread of capitalism, as North Korea still remains a strict socialist country.

Original Air Date: October 13, 2017

Length: 24 minutes 25 seconds

Discussion prompt (1): Having listened to this podcast, what type of economic system do you think North Korea has? What impact do you think this system has on people, businesses and the government. Use specific examples from the podcast to support your answer.

Discussion Prompt (2): The podcast points out that in N Korea’s economic system “the state technically owns everything.” How does this impact the ‘Donju’?  Think particularly how it impacts the incentives they face to start and grow a business (contributing to economic development).

Discussion Prompt (3): Why would entrepreneurship not be something typically observed in a Centrally Planned/Socialist country? How are the economic incentives of this system related to this lack of entrepreneurship? According to this podcast, how did the economic actions of the Donju contribute to economic growth in N. Korea?


The Chicken Tax   Leave a comment


Summary: Believe it or not, there is a chicken tax and it actually applies to automobiles! Back in the 20th century, Germany levied a tax on American chicken to protect their domestic farmers.  The US responded by taxing German made automobiles,  and thus a trade war began.  Planet Money discusses the value of tariffs, and why the chicken tax is still around.

Original Air Date: January 25, 2017

Length: 16 minutes 56 seconds

The Fine Print   Leave a comment


Summary: Everybody at one point in their life has heard the term “Got to read the fine print”.  But what does that actually mean? Planet Money tells stories about what happens when you read the fine print, and how you can make money from it.

Original Air Date: March 31, 2017

Length: 19 minutes 32 seconds

Oil pushes out Venezuela’s agriculture   Leave a comment


Summary: Venezuela’s oil dependent economy imports nearly 80% of its food, which is particularly worrisome  when oil prices are at an all time low.

Original Air Date: April 18, 2016

Length: 4 minutes 46 seconds

The Zoo Economy   Leave a comment


Summary: Due to regulations and animal cruelty, the market for animals has almost disappeared over the years.  Planet Money discusses how zoos and aquariums use different methods to get their animals without having to pay a single dollar and avoiding a PR disaster.

Original Air Date: September 9, 2016

Length: 17 minutes 22 seconds

Happy Saudi cows eat California alfalfa   Leave a comment



Summary: A Saudi dairy company, Almarai, bought a total of 14,000 acres of land across Arizona and California with the intentions of growing alfalfa, a water intensive crop.  Almarai plans to export the U.S. grown alfalfa back to Saudi Arabia to be used as fodder.

Original Air Date: April 6, 2016

Length: 2 minutes 22 seconds

Pitching the TPP amid skepticism about trade   Leave a comment


Summary: The Trans-Pacific Partnership is a trade agreement between 12 countries. This comprehensive deal covers issues such as protecting marine animals and the digital economy. However, the fate of the TPP is uncertain as it still needs to be approved by Congress and has no support from any presidential candidate.

Original Air Date: March 25, 2016

Length: 6 minutes and 26 seconds

Posted July 21, 2016 by noorul94 in International trade, Politics & economics, Regulation

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