Riassunto: Commercio e protezionismo

📋 Schema del Corso

1. Trade e bilancia commerciale
2. Protezione delle industrie nazionali
3. Economia pianificata e sussidi
4. Indicatori della performance economica
5. Fasi del ciclo economico
6. Grande depressione e Smoot-Hawley

📖 1. Trade e bilancia commerciale

🔑 Concetti chiave e definizioni

• Trade: the business of exchanging goods and services between different countries
• Balance of trade: the difference between imports and exports over a certain period of time
• Imports: goods and services purchased from foreign countries
• Exports: goods and services sold to another country

💡 Trucco mnemonico

Imports entrano, exports escono: il saldo li confronta.

📖 2. Protezione delle industrie nazionali

🔑 Concetti chiave e definizioni

• Protectionism: an economic strategy used by countries to protect their own industries and businesses from foreign competition
• Trade barrier: a measure that makes international trade more difficult
• Tariff: a tax placed on products coming from another country

📝 Punti essenziali

• The primary goals of protectionism are safeguarding domestic producers and workers and promoting economic growth and stability.

💡 Trucco mnemonico

Tariffs and barriers → less foreign competition, but possible monopolies and trade wars.

📖 3. Economia pianificata e sussidi

🔑 Concetti chiave e definizioni

• Planned economy: In a planned economy, the government decides everything about production, including who owns businesses, what to produce, when to produce it, who should be employed, and wages.
• Quota: a limit on the amount of foreign products that can be imported
• Subsidy: a payment made by a government to local producers to make them more competitive and lower their prices

📖 4. Indicatori della performance economica

🔑 Concetti chiave e definizioni

• Economic indicator: used to describe the condition of a country's economy
• GDP: the total value of goods and services produced by a country in a year
• GNP: the total economic output of a country, including earnings from foreign investments

📝 Punti essenziali

📌 A rising GDP indicates economic growth, while a falling GDP indicates economic contraction and can lead to unemployment.

💡 Trucco mnemonico

GDP measures production inside the country, whereas GNP includes foreign investment earnings.

📖 5. Fasi del ciclo economico

🔑 Concetti chiave e definizioni

• Business cycle: the pattern followed by economic activity, characterized by periods of expansion and decline

📝 Punti essenziali

• 🔄 The business cycle follows this sequence:
  1. expansion
  2. peak
  3. recession
  4. trough

💡 Trucco mnemonico

Expansion → peak → recession → trough.

📖 6. Grande depressione e Smoot-Hawley

🔑 Concetti chiave e definizioni

• Retaliatory tariffs: tariffs introduced or increased by other countries in response to another country's tariffs

📝 Punti essenziali

• In 1929, the American economy began to slow down and the Wall Street stock market crashed in October.

• By 1933, unemployment in the United States had reached about 25%.

• In 1930, President Herbert Hoover signed the Smoot-Hawley Tariff Act, which increased tariffs on thousands of imported products.

• 🔄 The protectionist chain was:

  1. higher American trade barriers
  2. retaliatory tariffs by other countries
  3. more difficult sales abroad
  4. a sharp fall in international trade

💡 Trucco mnemonico

Higher tariffs → retaliatory tariffs → falling international trade.

📊 Tabelle di sintesi

GDP e GNP