NAFTA Trade

NAFTA is an agreement between the U.S., Canada, and Mexico, which came into effect in 1994, creating one of the largest trade blocs in the world by GDP.
Based on what you learned in this course about the theory of Optimum Currency Area (OCA) developed by Robert Mundell, I would like you to write an essay on whether you think the NAFTA qualifies to be an optimum currency area by checking whether all the conditions of an OCA are satisfied.

Sample Solution

ople on social media is the possibility of falling into the trap of hedonic adaptation. Hedonic adaptation, a term coined by Brickman and Campbell
(1971), refers to people’s tendency to return to a previous level of happiness and well-being after a temporary positive or negative experience. It is possible that the additional pleasure and happiness obtained from being able to share one’s happiness on social media and to influence other people will wear off over time. Then it could cease to have its positive effect on people. In such a case, one would expect the overall levels of collective subjective well-being to drop in the future. However, even if this does happen, people will still be able to pursue a lifetime of happiness by engaging in new forms of communication and sharing.
In the end, the question is: is it ‘The happiness of a lifetime’ or ‘A lifetime of happiness’?
References
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Berghella, Vincenzo. Happiness: the scientific path to achieving well-being. 2014. ISBN 9780578136264.
Boulianne, Shelley. Social media use and participation: a meta-analysis of current research. Information, Communication & Society 18(5), DOI: 10.1080/1369118X.2015.1008542
Brickman, Philip and D. Campbell (1971). Hedonic relativism and planning the good society. in M. H. Apley, ed., Adaptation Level Theory: A Symposium, New York: Academic Press, 1971, pp 287–302
Cohen, Noam. Is It a Day to Be Happy? Check the Index. http://www.nytimes.com/ 2009/10/12/technology/internet/12link.html, visited on May 13, 2016
Diener, E., & Tay, L. (2015). Subjective well-being and human welfare around the world as reflected in the Gallup World Poll. International Journal of Psychology.
Diener, Ed. Subjective Well Being Frequently Asked Questions. http:// internal.psychology.illinois.edu/~ediener/faq.html , visited on May 13, 2016.
Haybron, Daniel. Happiness: A Very Short Introduction. Oxford University Press 2013. Mackie, J.L. Ethics: Inventing Right and Wrong (N.Y.: Penguin, 1977), p. 186.
Lee, Yi-Chen, Yi-Cheng Lin, Chin-Lan Huang, and Barbara L Fredrickson. The construct and measurement of peace of mind. Journal of Happiness Studies, 14(2):571–590, 2013. doi: 10.1007/s10902-012-9343-5.
Rainie, Lee, Aaron Smith, Kay Lehman Schlozman, Henry Brady, and Sidney Verba. Social Media and Political Engagement. http://pewinternet.org/Reports/2012/Political- Engagement.aspx , 2012.
Stanford Encyclopedia of Philosophy. http://plato.stanford.edu/, visited May 13, 2016.
Tausczik, Y.R., & Pennebaker, J.W. (2010). The psychological meaning of words: LIWC and computerized text analysis methods. Journal of Language and Social Psychology, 29, 24-54.
Yang, Chao and Padmini Srinivasan Life Satisfaction and the Pursuit of Happine

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