"beggar thy neighbour" and "the tragedy of the commons" were the same thing ?
Charles Beggar thy neighbour Beggar thy neighbour, or beggar-my-neighbour, is an expression in economics describing policy that seeks benefits for one country at the expense of others. Such policies attempt to remedy the economic problems in one country by means which tend to worsen the problems of other countries. The term was originally devised to characterize policies of trying to cure domestic depression and unemployment by shifting effective demand away from imports onto domestically produced goods, either through tariffs and quotas on imports, or by competitive devaluation. More recently, "beggar thy neighbour" policy has taken the form of reducing domestic inflation through currency appreciation. This improves the terms of trade and thus reduces cost-inflationary pressure in the appreciating country but tends to increase cost inflation in the country's trading partners. The policy can be associated with mercantilism and the resultant barriers to pan-national common markets[1]. "Beggar thy neighbour" strategies of this kind don't apply only to countries: overgrazing provides another example, where the pursuit by individuals or groups of their own interests leads to problems. This dynamic has been called the "tragedy of the commons," though it appears as early as the works of Plato and Aristotle. The phrase is in widespread use, and is used in such publications as The Economist[2] and BBC News[3]. The term presumably originates from the name of the Beggar-My-Neighbour card game. [edit] See also Protectionism Mercantilism Domestic policy Economic policy Monetary policy International trade Balance of trade [edit] References ^ Teshio, Mashike and the Rumoi subprefecture: Of palisades and Christ signs ^ The euro area's economy | Beggar thy neighbour | Economist.com ^ BBC News | The Economy | CAP: Beggar thy neighbour [show]v • d • eEconomics Macroeconomics Adaptive expectations · Balance of payments · Central bank · Currency · Gold standard · Gresham's Law · Inflation · IS/LM model · Money · Measures of national income and output · Monetary policy · National Income and Product Accounts · Purchasing power parity · Rational Expectations · Reaganomics · Recession · Unemployment · Development · List of economics topics · List of economic geography topics · List of international trade topics · Publications Microeconomics Scarcity · Opportunity cost · Supply and demand · Elasticity · Economic surplus · Economic shortage · Aggregate demand · Consumer theory · Market form · Welfare · Market failure Sub-disciplines International · Development · Labor · Environmental · Institutional · Normative · Behavioural · Experimental · Financial · Industrial organization · Public finance · Economic psychology · Economic sociology · Economic geography · Positive · Law and economics · Political economy Methodologies Econometrics · Computational economics · Heterodox economics History Ancient economic thought · Classical economics · Marxian economics · Neo-classical economics · Institutional economics · Keynesian economics · Chicago School of economics · Austrian School of economics Famous economists Adam Smith · David Ricardo · Karl Marx · John Maynard Keynes · Milton Friedman · Ludwig von Mises · Ragnar Frisch · more This economic term article is a stub. You can help Wikipedia by expanding it. v • d • e Retrieved from "http://en.wikipedia.org/wiki/Beggar_thy_neighbour"; Categories: International economics | Economic term stubs ViewsArticle Discussion Edit this page History Personal toolsTry Beta Log in / create account Navigation Main page Contents Featured content Current events Random article Search Interaction About Wikipedia Community portal Recent changes Contact Wikipedia Donate to Wikipedia Help Toolbox What links here Related changes Upload file Special pages Printable version Permanent link Cite this page Languages Deutsch Español Tiếng Việt This page was last modified on 23 March 2010 at 04:40. Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. See Terms of Use for details. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization. Contact us Privacy policy About Wikipedia Disclaimers _______________________________________________ Marxism-Thaxis mailing list [email protected] To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis
