GLS 299 BU Reinvestment of Profits Into the Enterprise Discussion

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GLS 299

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Name: GLS299 – AW21 Final Exam Multiple Choice & True/False (5 pts) 1. Bretton Woods international financial institutions have traditionally preferred universal over targeted approaches in the policy design of their economic adjustment programs. a. True b. False 2. Which of the following was a subsequent policy response to top-down ‘Big Aid’ policy approaches of the 1960s: a. b. c. d. Participatory Rural Appraisal (PRA) Stakeholder Analysis Rapid Rural Appraisal All options 3. Latin American Structuralism and subsequent ‘debt overhang’ in many national economies such as Brazil, Argentina, and Mexico is strongly rooted in: a. b. c. d. Export Substitution Industrialization policy Import Substitution Industrialization policy Land reform Domestic private and public banks 4. HJ Chang has advocated for which of the following approaches for developing countries in global production structure of international political economy: a. Laissez-faire free markets b. Comparative Advantage Following industrial policy c. Comparative Advantage Defying industrial policy d. Autarky 5. Social business and social enterprise approaches to development issues are distinguished from other forms of business through: a. Reinvestment of profits into the enterprise b. Pursuit of profits but not maximization of profits c. Business model / structure d. Social focus of their mission statement e. All options 6. Stuart Hall problematizes international cooperation along which axis? a. North-South b. Poor / Rich c. South-South d. West / Rest II. Short Answer (10 pts) 1. ‘Not all sources of debt are equal.’ Please evaluate this statement with respect to the nexus between debt and policy space. 2. With Stuart. Hall in mind, is there space for anti-colonial representation in contemporary international development – what would it look like (please discuss with reference to at least one example)? 3. Is national industrial policy aided or subverted by value chains (regional or global)? Please discuss with respect to one example. III. Long Form Essay (20 pts) – Please Choose ONE of the following questions 1. ‘Universal metrics in international development are where the devil plays in the detail.’ Discuss. 2. ‘(Successful) policy implementation is always embedded in coordinated or fragmented networks.’ Please discuss with reference to at least one example. 3. Former World Bank lead economist and scholar Branko Milanovic claims that for developing countries, “without growth, you are toast.” Discuss with reference to at least one case or thematic policy area. 4. Debt is a perennial feature in most ‘developed’ and ‘developing’ countries, particularly after the 1970s OPEC crisis. Has the ability of some countries of the ‘South’ to overcome their debt position and industrialize speak to the failure of others with regard to development policies? Please discuss with reference to at least one example. 5. Is there a role for international / global public policy for development in a world of increasing strategic bilateralism? Discuss with reference to at least one example. 6. There is currently a paradigm push to supplant poverty-centered approaches to development with targeted gender and environment policy, particularly in the realm of taxation policy and the gendered impacts of extractive resource industries such as mining, timber and plantation agriculture. What lessons or cautions from past development paradigms or development approaches might be important to consider in the rise of the new gender and environment paradigm? IV. Case Analysis (20 pts) The world is experiencing a rapid new outbreak of the Omicron variant of Covid-19. Today’s news headlines1 have Norwegian and Danish health authorities making projections that Omicron may overtake both countries in a matter of days. The COVAX facility has not reached the 2 billion vaccine doses it pledged to deliver by the end of 2021; it hopes to disburse 800 million by January 2022. Many developing countries have had to reach deals with manufacturers separately to COVAX, paying twice or doubling their efforts; in some instances, shipments have been delayed or arrived with short notice, providing disruption to vaccination campaigns and delaying second shots. An export ban on vaccines from a manufacturer in India significantly created a shortfall in COVAX supply, timelines, costs and sovereign trust in the COVAX facility. In Latin America and Africa, parallel initiatives have started to buy vaccines outside of COVAX, such as the Pan-American Health Organization (PAHO), a specialized international health agency for the Americas, and the African Vaccine Acquistion Task Team (AVATT) – part of the Africa Medical Supplies Platform – a regional initiative formed through the African Union, Africa CDC and African Export-Import Bank (Afreximbank). Some descriptive statistics and public metrics have been developed. Johns Hopkins University (JHU) & Medicine Coronavirus Resource Center has a dashboard which tracks vaccination globally by country, region, and % of population: UNICEF has a Covid-19 Vaccine Market Dashboard that includes relative country information for ‘Prices’ and ‘Delivery’ under their respective tabs: Many developing countries, particularly in Africa and Central Asia, fall well below the global average in percentage of population vaccinated. The JHU dashboard has Burundi at 0.02% of the population vaccinated with at least one dose. Confirmed cases in Burundi may be underreported given low testing and official reporting. Vaccine hesitancy is a factor. How might the public health situation with regard to Covid-19 be improved in Burundi or similar cases with low percentage of population vaccinated? Please briefly outline how you would begin to prepare for policy analysis in this area with respect to the following: a. Pick one area of global public policy with respect to Covid-19 (vaccination; metrics and measurement; financing; logistics of supply and shipping; etc.) 1 Zimmer, C. and Emily Anthes. “Denmark and Norway Predict Drastic Spike in Omicron cases”. The New York Times, 13 December 2021. b. What stakeholders do you envisage would be significant in this scenario? You may wish to list primary and secondary actors. c. What key challenges (example: political, financing, socio-cultural, logistical, policy other) in this domain would you explore and how? d. What point of the policy process would you focus on? (i.e. policy evaluation of past programs/failures; policy design; policy space; representation; policy communication etc) Bonus (5 pts) Reflecting on the course, what is one highlight or takeaway you learned from the thematic material? Week 9: Finance & Social Enterprise – Market-based Approaches to Contemporary Development Dr .Pon Souvannaseng Bentley University 4 Nov 2021 Enterprise, Innovations, and Public/Private Goods • Water filter (Indonesia): h Sun lamp (Kenya): h De Soto’s ‘Other Path’ (1989) Peruvian Informal Economy Informality = outside government law and regulation Mercantilist history of Peruvian urban areas privileges early arrivers; late arrivers have ‘gradual’ or ‘violent’ settlement Makeshift conditions = informal, self-organized institutions; bootstrap Innovation and entrepreneurship DS: ‘bootstrap’ development has worked so far- informal housing, transport, trade Peasants = new class of entrepreneurs- ‘unleash’ further via market forces – to do so, convert ‘assets’ into property rights = TITLING De Soto’s ‘Other Path’ – The ‘Fixed Assets’ of the Poor The Peruvian economist, Hernando de Soto, has helped us understand a worldwide economic phenomenon. By walking the streets of Lima not analyzing official statistics, he found the poor of Latin America—who have never read Jefferson or Adam Smith—ran their affairs democratically, outside the formal economy, organizing their private, parallel economy in a free and unregulated manner. De Soto's great contribution has been to point out what, in retrospect, may seem obvious: People everywhere want the same things. And when left alone by government, people everywhere organize their lives in remarkably similar ways. De Soto's prescription offers a clear and promising alternative to economic stagnation in Latin America and other parts of the world. Governments must bring "informal" workers into the regular economy—and then get out of the way and let individual enterprise flourish. - George H.W. Bush World Bank / IMF Address 1989 Recap: Ontological Schools of Thought in PE Classic Liberal Neo-Classical: ‘Free Market’ Market Society State Adam Smith Heterodox Society State Market Society F. Hayek, M. Friedman State Market K. Polanyi Recap: Ontological Schools of Thought in PE Classic Liberal Neo-Classical: ‘Free Market’ Market Society State Adam Smith Heterodox Society State Market Society F. Hayek, M. Friedman State Market K. Polanyi ‘Bottom of the Pyramid’ “If we stop thinking of the poor as victims or as a burden and start recognizing them as resilient and creative entrepreneurs and valueconscious consumers, a whole new world of opportunity will open up.” - Prahalad, BOP ‘Bottom of the Pyramid’ Prahalad: - Business model approach – scale - Large firms targeting poor demographics as ‘markets’ consumer populations - Large vs. Small: China, India, vs. Guinea or BosniaHerzegovina? Fast Growth: S à I Prahalad, p. 51 BOP Distribution BOP vs. ‘Existing’ Structure (Prahalad) Social Business, Social Enterprise and Cooperatives • Yunus (2008): Between free markets (‘exacerbate poverty and inequality’) and government (‘too slow to shut down inefficiency’); NGOs (reliability); Multilateral Inst. (‘development elite’) • Social Business (Yunus) - Cost Recovery +(+) - Profit maximization principle (PMP) vs. social benefit principle (SBP); SB as byproduct - Social Enterprise // Social Business - motive for investors? ‘philanthropic’ / ‘profit’ Economic Organization: Production via Firms or Marketplaces? • Theory of the Firm: Ronald Coase (1937) -production integrated via firm rather than across a market (Smith’s ‘division of labour’) -Asymmetric information à trust/ cooperation à contract theory Firm Structure Heirarchical Cooperative (associational principles) (Private) Cooperative Firm Structure Savings & Capital in Development Gerschenkron: The later you are to industrial development, the more capital you need to start. Bigger and strong institutions are required. UK (early 1800s) Textiles --- Reinvest profits France (mid 1800s) Steel – Commercial Banks Germany (alte 1800s) Steel – Industrial Banks Russia (early 1900s) Chemical - the State Dev.Countries (2000s) ???? - microfinance? Recap for this week • Re-imagining the ‘beneficiary’ of development as consumer and entrepreneur • Markets (price mechanism) // Firms • ‘Informality’ – a form of economic organization; how to address and think about? (‘incorporate’ or expand?) • Who’s role to organize? (citizens, state, firms?) – Savings & micro-finance à Gerschenkronian question Thoughts for this week.. 1) What is the distinction between a ‘social business’ and ‘strong CSR’ 2) ‘Social Business’ – oxymoron? Is the emphasis on cost recovery at odds with social aims? 3) How is ‘social business’ different to a private cooperative? 4) Does a social enterprise approach to development complement or challenge an industrial policy outlook? GLS299 – Micro-Enterprise & Feminizing Poverty? Dr Pon Souvannaseng 4 Nov 2021 Bentley University Extra Credit – 5% to your final or midterm Global Studies Courses – Spring 2022 GLS 100: US Government and Policy • Multiple blocks GLS 101: Globalization 100 level Courses • Multiple blocks GLS 102: Comparative Government and Politics • Multiple blocks GLS 105: US State and Local Gov & Policies • Multiple blocks GLS 110: Global Regions • Professor Joni Seager • Block 4 GLS 114: Cross-Cultural Understanding • Professor Kristin Sorensen • Block 5 GLS 116: International Relations • Multiple blocks Fulfills Gen-Ed requirement Global Studies Courses – Spring 2022 GLS 226: US Foreign Policy • Professor Joao Resende-Santos • Block 14 GLS 230: Politics & Public Policy • Professor Rob DeLeo • Block 13 GLS 243: The Developing World Electives • Professor Pon Souvannaseng • Block 15 GLS 298 Honors: Gender & Politics Worldwide • Professor Bonnie Field • Block 8 GLS 299: Environmental Justice: Global to Local • Professor Joni Seager • Block 10 GLS 333: Politics Through Film • Professor Jeff Gulati • Block 8 GLS 403: Model UN • Professor Yooneui Kim • Block 17 This course centers the histories, voices and experiences of peoples, societies and states of ‘the developing world’. Through critical analysis of texts, film and other audio/visual artefacts, this course explores the cosmologies, ideologies, policies, practices and events that have shaped the diverse trajectories of peoples and communities across regions and oceans, from South America to Africa, Asia, the Middle East and the former Soviet world. It explores key questions, such as: – What does development mean in the shadow of colonial and decolonial experiences? – What processes, actors, institutions and forces have contributed to mal- and underdevelopment? How might they be challenged, reformed, or mitigated? – What visions, tropes and paradigms have shaped the fates and lives of ‘Global South’ citizens and what spaces and strategies of subversion might yield emancipatory outcomes? • This course will engage with a kaleidoscope of contexts and agents, from peasants to soldiers and bureaucrats, women, merchants, and technocrats as we move through time. • The first half of the course delves into selected themes, events and colonial experiences of today’s postcolonial societies. The second half of the course takes a historical and thematic approach to key paradigms, policy interventions, and concepts which impinge on processes of national development in the modern period. From trade and social policy under austerity, to health and ecological systems under the contemporary international order, to industrial policy and labor organization, we will study and brainstorm potential social and policy responses in redress. • GLS 243 The Developing World Prof. Pon Souvannaseng Political Economy & Development Concentration – Liberal Studies Major • programs/optional-second-majors/liberalstudies-major/political-economydevelopment/ Feminization of Debt? • Unequal household labor – Who is a beneficiary, stakeholder, and autonomous agent in development? • Should everyone be an entrepreneur? • Consumption and remittances – What are loans assumed to be used for? – What are they actually used for? • Gender-based violence • Gender & Development – Patriarchy is not the same everywhere • Peer pressure – Who is able to participate, who is not? • Polygamy, pooling and separation
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All the Options


Domestic private and public banks


Comparative Advantage Following industrial policy


Reinvestment of profits into the enterprise




All sources of debt are not equal, especially in light of a nation's default

implications. These debt conditions affect and shape the policy space of a state. The
total amount of money owed to creditors by the government is known as "public
debt." Because they are two sides of the same coin, the public debt and the budget
deficit are inextricably linked. The state's debt is influenced by its macroeconomic
policies, diplomatic relationships, social policies, and social circumstances. The
government's capacity to pay a debt is based on current economic conditions and
forecasts of key economic indicators.
Given the unequal nature of debt sources, governments or nations, consider all
current and future implications of delays or defaults to prioritize their debt. However.
it is important to note, there are implications for negating or defaulting on any source
of debt. For example, if a domestic debt receives less priority than external debt, the
impact on the nation's domestic microeconomics will be felt..


There is space for anti-colonial representation in temporary international

development. Stuar...

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