23 Matching Annotations
  1. Oct 2023
    1. Both institutions and technologies are part of the explanation of differing endowments among individuals. Inherited wealth gave Kamal a valuable asset, while subsidized higher education helped Ella qualify as a medical technician. Both are examples of the effect of institutions on endowments.

      https://www.jstor.org/stable/43818277?seq=2

      When somebody migrates to a different country, through provision of information on the foreign country or by increased demand for goods from their countries of origin, they essentially stimulate trade which contributes to the overall country's development, as stated by the source above.

    2. As a result, we can think of an individual’s income as depending on: their endowments the income resulting from each item in the set of their endowments

      An individual's income depends on their endowments on the income resulting from reach item in their set of endowments. Free trade agreements facilitate the exchange of goods and services between countries with fewer barriers like tariffs and quotas. This can increase the market size for indivuals, allowing them to sell their products and purchase products to and from a larger customer base. Migration can allow individuals to diversify their sources of income. When people move to new countries, they can access different job markets and income opportunities. This diversification can reduce their risk and increase overall income.

  2. Sep 2023
    1. https://www.consilium.europa.eu/en/policies/sanctions/restrictive-measures-against-russia-over-ukraine/sanctions-against-russia-explained/

      This source explains quite nicely how Russia is impacted. "As part of the economic sanctions, the EU has imposed a number of import and export restrictions on Russia. This means that European entities cannot sell certain products to Russia (export restrictions) and that Russian entities are not allowed to sell certain products to the EU (import restrictions)." An important distinction to note here, however, is that products pertaining to consumption and health are not not excluded, meaning that Russia's population itself is not harmed.

    2. Economic sanctions on Russia firstly may not deter Russia from acting, as there are varying degrees of sanctions, but it isolates Russia's economy from the global economy, which would negatively impact its trading, investing, and financial instituions, diminishing long-term economic growth, trading with other countries, and external investment.

    1. This is awkward for the Trump administration, which has been slow to respond to the new virus(and which thinks banning travelers from Europe is the best defense against a disease that isalready spreading rapidly on its soil).

      Reminds me of this article: https://globalizationandhealth.biomedcentral.com/articles/10.1186/s12992-021-00677-5. More globalized countries have a tendency to engage in protectionism, banning travelers, as to first prevent the further spread of the virus, commit to existing trade agreements, exhibit a greater desire to ‘learn from others’ and also perhaps of ‘confidence’ in a government’s ability to deal with a pandemic through its health system and state capacity.

    2. Specialization producedgreater efficiency, which in turn led to growth

      This answers the inquiry question which is "What is the relationship between trade and development?" As countries engage in comparative advantage and trade in what they specialize it - what they can produce most efficiently at the lowest cost - they are able to operate at a greater efficiency, going from a point inside the PPC to on the PPC with constant resources, and are able to experience economic growth, or increased prospects of growth compared to their previous capabilities.

  3. Aug 2023
    1. Figure 20.6 illustrates a key fact of climate science: that global warming is an effect of the amount of CO2 and other greenhouse gases in the atmosphere.

      This article, https://www.oecd.org/economy/greeneco/global-forum-on-environment-2016.htm, correlates with what this article is talking about. "The environment essentially provides resources to the economy, and acts as a sink for emissions and waste. Natural resources are essential inputs for production in many sectors, while production and consumption also lead to pollution and other pressures on the environment." This elucidates how the environment provides resources to established companies and, in return, these companies will take advantage of the environment which damages it.

    2. Burning fossil fuels for power generation and industrial use leads to emissions of CO2 into the atmosphere. These activities, together with CO2 emissions from land-use changes, generate greenhouse gases equivalent to around 36 billion tonnes of CO2 each year.

      This directly responds to the inquiry question on how does economic growth affect the environment? Through increased productivity and industrilization, there will be increased factories and, overall, increased output. This will translate into more CO2 emissions which generates greenhouse gases, destroying the ozone layer and exaggerating the sun's detrimental impact on the climate and temperature

    1. Poor people may thus beforced to rely even more heavily on automatic decisionmaking than those who are not poor

      Same thing that the video was talking about. The poor has too much to worry about and, yes, they may be forced to rely on automatic decision making more, but they also may just give up and not bother to try anymore/

    2. Instead,they use concepts, categories, identities, prototypes,stereotypes, causal narratives, and worldviews drawnfrom their communities

      Highly relatable to me, tending how I get my information/habits from those around me.

    3. These strategies strengthenedcooperation, and reductions in water use persistedlong after the tunnel was repaired

      These strategies centralized around the concept of teamwork and collaboration are well known and are highly effective.

    4. societies can also endup coordinating activity around a common focalpoint that is ill-advised or even destructive for thecommunity

      What I find interesting about this is that this is a pretty bold assumption. Societal conformation exists, but to the extent where it is centered around a single point of destruction, to me, is highly unlikely. There may be one group that is, but there may be another group that challenges said point too.

    5. Thus psychologists have long distinguished twokinds of processes that people use when thinking:those that are fast, automatic, effortless, and associa-tive; and those that are slow, deliberative, effortful,serial, and reflective

      As there is too much information for one to process, it is broken up into two different modes for the human mind to process better.

    6. Thenew approaches do not replace standard economics.But the new approaches enhance our understandingof the development process and the way develop-ment policies and interventions can be designed andimplemented.

      Important distinction here.

    7. The success of the intervention depended on “think-ing socially”—our tendency to identify with and learnfrom others

      Example of pathos here, appealing to one emotionally/

    8. because mental accounting is one way inwhich people are often “thinking automatically” andis an example of a more general framing or labelingeffect in which assigning something to a categoryinfl uences how it is perceived

      This is a response to the question. When people do not have much money, they tend to pay attention to money much more than anyone else would. So, to make sure that their money is being spent appropriately, they structure what their money could be spent towards, just like the video addressed how half of one's money is spent towards food, tabacco, religious festivals, etc.

    9. First, people make most judgments and most choicesautomatically, not deliberatively: we call this “thinkingautomatically.” Second, how people act and think oftendepends on what others around them do and think:we call this “thinking socially.” Third, individuals in agiven society share a common perspective on makingsense of the world around them and understandingthemselves: we call this “thinking with mental models.”

      Three principles that help guide the new approach that takes the human cognitive ability, behavior, etc into account.

    10. failure affects the profit-making bottom line

      This is kind of a condition. Only when the porofit-making bottom line is imapcted is when the development community pays attention to the capacity of the human cognitive ability. If they were to do it perpetually, then their profits could increase substantially.

    11. placeshuman cognition and motivation in a “black box,”intentionally simplifying the “messy and mysteriousinternal workings of actors”

      The downside has to be addressed. By considering everyone to be the same and ignoring external influences, it poses a great threat as it is not accurate at all.

    12. The title of this Report, Mind, Society, and Behavior,captures the idea that paying attention to how humansthink (the processes of mind) and how history andcontext shape thinking (the influence of society) canimprove the design and implementation of develop-ment policies and interventions that target humanchoice and action (behavior

      Main idea of the Report

    13. These days, airplane cockpits contain fewer instru-ments than several decades ago because the designof cockpit instrument displays is based on a deeperunderstanding of human cognitive processes

      This is an example of an effect of paying attention to a person's cognitive ability.