Trade and other governmental policy decisions are frequently made based on neoclassical economic theory, which in turn is based on simplifying assumptions that result in unrealistic predictions. In this thesis, I argue that sociology is an important social science that can help to inform economic theory in policy-making. Understanding how social relations affect market actors and institutions is crucial, as markets are themselves composed of social relationships. I present an example using antidumping regulations. Economic scholars have argued that antidumping laws should be abolished based on pure economic theory. I argue that, from a sociological perspective, antidumping laws serve to provide a necessary stabilizer for markets, resulting in controlled competition and greater trade liberalization. Such laws should therefore be maintained.
Identifer | oai:union.ndltd.org:TORONTO/oai:tspace.library.utoronto.ca:1807/30552 |
Date | 06 December 2011 |
Creators | Chow, Cherrine |
Contributors | Fadel, Mohammad |
Source Sets | University of Toronto |
Language | en_ca |
Detected Language | English |
Type | Thesis |
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