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1. Identify the statement that challenges the criticism that global economic integration threatens deeply held noneconomic values.

• The World Trade Organization, World Bank, and International Monetary Fund are themselves undemocratic bureaucracies that threaten the political values and self-determination in poor countries.

• Private multinational corporations are replacing legitimate governments as the true international decision makers.

• The policies of the Golden Straitjacket are simply rational requirements for a nation that chooses prosperity over poverty. Financial and economic norms are analogous to scientific laws discovered by social scientists. INCORRECT

• Global market capitalism fueled by multinational corporations seeks to expand worldwide markets for their products and creates a cultural homogenization that threatens local cultures and traditions.

2. Identify an argument that supports the policies aimed at protecting domestic business and domestic jobs.

• If the goal of business is jobs and economic development, the location of a corporate headquarters is much more important than the location of operations and supply chains. INCORRECT

• According to the economic and utilitarian argument, such policies will increase overall happiness as goods and services will become more affordable.

• The social contract logic states that since businesses receive benefits from the society in which they operate, they owe that society certain duties in return.

• Such policies put governments, rather than consumers, in the position of choosing winners and losers in the marketplace.

3. One major challenge to the minimalist approach that holds that business is free to pursue its economic interests as long as certain minimal moral rights are not violated in the process is that it does not seem to explain why the responsibilities correlated with these rights fall to multinational business rather than to government.

True or False

4. Poor countries that reject Thomas Friedman's Golden Straitjacket can reasonably expect that economic prosperity will follow from alternative policies.

True or False