John Locke Essay Competition 2020 (economics)

Original post by kobla

Let's share our experience :smile:

What question have you done? How are you doing you research? How much time have you spent writing it so far?

And for those who did the economics questions: how are you finding them? I am deciding between 2 on unilateral free trade and 3 on forced redistribution but both of these topics are so new to me and I am not even completely sure what they are about :frown:

Lots of research for me...

I decided on number 3 (forced redistribution.) similarly I had no knowledge of it. How did it go?

Reply 3

elegantpastry

4

Original post by Chart650

I decided on number 3 (forced redistribution.) similarly I had no knowledge of it. How did it go?

It was fine imo. I did prompt 2 (unilateral free trade). I kind of had some knowledge of it from my debate team. Btw im a US applicant. Did you get any notification of the shortlist yet?

Reply 4

Chart650

....

(edited 3 years ago)

Reply 5

Chart650

Have you?

Original post by elegantpastry

It was fine imo. I did prompt 2 (unilateral free trade). I kind of had some knowledge of it from my debate team. Btw im a US applicant. Did you get any notification of the shortlist yet?

Original post by elegantpastry

It was fine imo. I did prompt 2 (unilateral free trade). I kind of had some knowledge of it from my debate team. Btw im a US applicant. Did you get any notification of the shortlist yet?

I’m a UK applicant and really don’t know if I’ll be shortlisted but haven’t been notified yet no. Have you?

Reply 6

Original post by Chart650

Have you?

I’m a UK applicant and really don’t know if I’ll be shortlisted but haven’t been notified yet no. Have you?

I'm also a UK applicant who did the unilateral trade question. I haven't yet received a notification but I think the shortlist will only be sent out on the 31st. According to the website, if we don't receive an email by then, then we haven't been shortlisted.

Reply 7

Lily Evans

3

Good luck guys! If you get an email or see that the shortlisted has been annouced can you post about it on here?

Reply 8

hjaddie

hiya, i answered one of the history questions... any idea what time the shortlists will be announced or are we all in the dark? :smile:

Reply 9

Lily Evans

3

Original post by hjaddie

hiya, i answered one of the history questions... any idea what time the shortlists will be announced or are we all in the dark? :smile:

Not even a clue, I think last year they pushed it back which I hope they don't do this year. Not sure if they are going to email all of us or iust the people who won.

Reply 10

hjaddie

yeah, the website doesn't make much sense about who they’re emailing. i think last year they published a shortlist for each subject on the site as well as emailing but i have no idea what happening this time round

Reply 11

Original post by pravel04

I'm also a UK applicant who did the unilateral trade question. I haven't yet received a notification but I think the shortlist will only be sent out on the 31st. According to the website, if we don't receive an email by then, then we haven't been shortlisted.

yo did anyone argue that UFT is the best thing to do almost all of the time? id love to hear your thoughts

(edited 3 years ago)

Reply 12

Original post by rickandmorty

yo did anyone argue that UFT is the best thing to do almost all of the time? id love to hear your thoughts

Yh I basically said that protectionism and infant industry is only suitable when your country is looking to become autarkic. Other than that, there isn't much benefit to imposing tariffs as the reduction in consumer welfare that comes from tariffs outweighs the supposed problems of foreign investment. Since diplomatic relations are ok between countries, foreign investment isnt necessarily a bad thing and can help stimulate the growth of developing nations who are trapped in tariffs and embargoes. It would be great to hear what you think about UFT!

Reply 13

Original post by pravel04

Yh I basically said that protectionism and infant industry is only suitable when your country is looking to become autarkic. Other than that, there isn't much benefit to imposing tariffs as the reduction in consumer welfare that comes from tariffs outweighs the supposed problems of foreign investment. Since diplomatic relations are ok between countries, foreign investment isnt necessarily a bad thing and can help stimulate the growth of developing nations who are trapped in tariffs and embargoes. It would be great to hear what you think about UFT!

That's super interesting. My main argument was that economies will specialize in comparative advantages, collectively exporting less and getting more cheap imports, which are the benefits of trade and didn't get into anything too specific! But I do think there is a case to be made for infant industries though, but helping them out with tariffs might not be the best way to develop a comparative advantage / to help infant industries achieve economies of scale.

Reply 14

elegantpastry

4

Original post by rickandmorty

That's super interesting. My main argument was that economies will specialize in comparative advantages, collectively exporting less and getting more cheap imports, which are the benefits of trade and didn't get into anything too specific! But I do think there is a case to be made for infant industries though, but helping them out with tariffs might not be the best way to develop a comparative advantage / to help infant industries achieve economies of scale.

Yeah, I focused a lot on domestic employment, productivity, and comparative advantage. I also threw in information about PPE access as a result of free trade during covid-19.

Reply 15

Original post by elegantpastry

Yeah, I focused a lot on domestic employment, productivity, and comparative advantage. I also threw in information about PPE access as a result of free trade during covid-19.

That’s a great point about ppe! I could never have thought of that. Also, did you guys write about anything that’s specific to UNILATERAL free trade because rereading my essay, it’s basically just about free trade in general with a few hints of UFT?

Reply 16

that's dope, I'm from Cali so I used a bunch of trump and Bush examples when talking about the protectionist underbelly of their tariffs to save the "manly" manufacturing jobs at the expense of many, but didn't really focus on the stuff you did, which is also super interesting! Something cool I just read about (after I submitted the essay :frown:

) is how UFT is actually, hypothetically, the best tool for antitrist in breaking up domestic monopolies in welcoming foreign competition.

Original post by elegantpastry

Yeah, I focused a lot on domestic employment, productivity, and comparative advantage. I also threw in information about PPE access as a result of free trade during covid-19.

Reply 17

kobla

OP

13

Original post by pravel04

That’s a great point about ppe! I could never have thought of that. Also, did you guys write about anything that’s specific to UNILATERAL free trade because rereading my essay, it’s basically just about free trade in general with a few hints of UFT?

i found some sources that served as an empirical evidence for unilateral free trade and also some economists like Joan Robinson and the other one I forgot talked about it in theory, but that's about all i used

Reply 18

Original post by pravel04

That’s a great point about ppe! I could never have thought of that. Also, did you guys write about anything that’s specific to UNILATERAL free trade because rereading my essay, it’s basically just about free trade in general with a few hints of UFT?

Yes I found joan robinson too! she had a great quote about retaliatory tariffs!

Reply 19