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For Florida to have a comparative advantage with California in regards to the trade of oranges, Florida would have to be able to produce oranges cheaper than California. Florida would need some distinct productivity advantage, like cheaper fuel prices, cheaper labor, a more efficient production system. This comparative advantage would then exist only in relation to the trading of oranges between Florida and California.
If one were to then compare Florida and New Mexico, then the particular circumstances between Florida and New Mexico would have to be evaluated to see if Florida had the comparative advantage. If New Mexico had some production advantage over Florida in the production of oranges, then while Florida may have a comparative advantage over California, it would not have a comparative advantage over New Mexico. And the circumstances between orange trade between New Mexico and California can be analyzed as well and it may be…
Maneschi, Andrea. (1999). Comparative Advantage and International Trade.
Northampton, MA: Elgar Publishing. Print.
Woo, Koo, and P. Lynn Kennedy. (2005). International Trade and Agriculture. Malden,
MA: Blackwell Publishing. Print.
"This is because any actor's comparative advantage depends only upon the relationship between that single actor's own levels of productivity for two goods under consideration, while (www.auburn.edu).
An example of the distinction between comparative and absolute advantage might be that Microsoft may have so much capital and available resources that it could produce, say, pizza at an absolute advantage, compared with the local Italian restaurant. But to do so, Microsoft would have to give up some of its resources better spent in the production of a new indows operating system, from which it could make much more money. Giuseppe, however, down the street, has a comparative advantage making his living producing pizzas at the business he inherited from his father, as he has few start-up costs, and because he can employ all of his family at the business at no cost. Economically, this single proprietor has the least to lose…
Johnson, Paul. (2001). "Absolute Advantage." Glossary of Economic Terms. Retrieved 18 May 2007 at http://www.auburn.edu/~johnspm/gloss/absolute_advantage
Johnson, Paul. (2001). "Comparative Advantage." Glossary of Economic Terms. Retrieved 18 May 2007 at http://www.auburn.edu/~johnspm/gloss/comparative_advantage
A worker has an absolute advantage in the production of a good relative to another if it can produce the good at lower cost or with higher productivity (Armington, 1969). In this model we would say that worker 1 has an absolute advantage in both plumbing and masonry when compared to the worker 2. It is because worker 1 takes less number of hours in both of the activities: plumbing and masonry. In other words:
4< 5, therefore in each of the case worker 1 has an absolute advantage.
A worker has a comparative advantage over the other worker when he/she can produce that good at a lower opportunity cost relative to another worker (Arrow, 1974). Opportunity cost is defined generally as the value of the next best opportunity. In the context of the workers, workers have the opportunities either to work in masonry or plumbing…
Armington, P. "A Theory of Demand for Products Distinguished by Place of Production." IMF Staff Papers, 16, 1969, 159-78.
Arrow, K.J. "The Theory of Discrimination," in Discrimination in Labor Markets, edited by 0. Ashenfelter and A. Rees. Princeton, NJ: Princeton University Press, 1974.
Chiang. S., and R. Masson. "Domestic Industrial Structure and Export Quality." International Economic Review, 29, 1988, 261-70.
international trade the theories of absolute and comparative advantage are important. The concept of absolute advantage is seen in the trade theories of Adam Smith, originally published in 1776, where it was argued that countries should produce the goods that they can create with the lowest total costs (Smith, 1994). A country has an absolute advantage if they are able to produce a good at the lowest overall cost compared to other nations. In this model nations should export goods they produce at the lowest cost and import those goods that have the highest overall cost to produce (the absolute disadvantage) (Smith, 1994). In this way nations use their resources to optimize production. The concept of absolute advantage is a good starting point to assess who trade takes place in the international environment, but it is also too simplistic. Trade is more complex, with many countries producing goods which do…
e-anking as a Competitive Advantage in razil
The Federative Republic of razil is the largest and most populous country in Latin America, and fifth largest in the world. Spanning a vast area between central South America and the Atlantic Ocean, it is the easternmost country of the Americas and it borders Uruguay, Argentina, Paraguay, olivia, Peru, Colombia, Venezuela, Guyana, Suriname and French Guiana - every South American nation except for Ecuador and Chile. Named after brazilwood, a local tree, razil is home to both extensive agricultural lands and rain forests. The official language of razil is Portuguese.
Possessing large and well-developed agricultural, mining, manufacturing, and service sectors, as well as a large labor pool, razil's economy outweighs that of all other South American countries and is expanding its presence in world markets. Major export products include coffee, soybeans, iron ore, orange juice, steel and airplanes.
After crafting a fiscal adjustment…
Bank of America. 9 April 2005. Retrieved June 9, 2005 from http://www.bankofamerica.com/deposits/checksave/ .
Benson, Todd. Brazil's Banks Adjust View of Their Market. April 9, 2005. The New York Times. Retrieved June 9, 2005 from http://www.changemakers.net/library/temp/nytimes04905.htm .
Chandler, Lester V. And Goldfeld, Stephen M. The Economics of Money and Banking. New York. Harper & Row. 1977.
Colitt, Raymond. A modest start for flashy virtual malls. October 30, 2000. Retrieved June 7, 2005 from ePayNews.com. 9 April 2005. Retrieved June 9, 2005 from http://www.epaynews.com/statistics/bankstats.html .
regional international institutions, International Monetary Fund, World Bank, United Nations, World Trade Organization, a financial institution. Select countries apply traditional international trade theories, absolute advantage, comparative advantage, factor endowment, enhance participation international trade.
International Trade Participation
The interaction between countries is a complex process that is strongly influenced by economic, political, and cultural factors. The need for this interaction is based on the resources that can be provided with smaller efforts by some countries to countries that need them. The need for resources has determined countries to involve in military, economic, and biological wars, or to involve in influence relationships where several countries support a larger community that can polarize greater power in the attempt to counteract the influence of other powerful countries. This is the case of the European Union that was developed in order to join the efforts of European countries so that they could balance the power…
1. Comparative Advantage (2014). Investopedia. Retrieved March 6, 2014 from http://www.investopedia.com/terms/c/comparativeadvantage.asp .
2. Regional Trade Agreements (2011). OECD. Retrieved March 6, 2014 from http://www.oecd.org/document/62/0,3746,en_2649_36442957_31839102_1_1_1_1,00.html .
3. Role of the World Trade Organization (2012). ICT. Retrieved March 6, 2014 from http://www.ictregulationtoolkit.org/en/section.1651.html.
O'Sullivan and Sheffin pointed out (2003), an absolute advantage, in commercial terms, describes the advantage that a country has over another country when it comes to manufacturing a product or service, at the same level of resources. Since the level of resources is the same, the element that usual differentiates between the output is the labor productivity, which varies from country to country because of different reasons, including better organization, level of education, specialization etc.
Comparative advantage, on the other hand, places the issue in the realm of competitive costs and accepts the idea that, although a particular country may have no absolute advantage, it would still have a comparative advantage over another country when it came to a particular good or service: it would be able to produce a particular good or service more efficiently than another.
Absolute and comparative advantages are useful when discussing trade theories, particularly because…
1. Blaug, Mark, (1992). The methodology of economics. Cambridge University Press
2. O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. The Wall Street Journal: Classroom Edition (2nd ed.). Upper Saddle River, New Jersey
In 2004, FASB (Financial Accounting Standards Board) issued a draft meant to provide guidelines of how entities should estimate fair value prices for reporting purposes.
Escape clause - is a part in any contract that specifies the conditions in which one or more parties involved in the contract may avoid performing its duties as specified in the contract.
14. The import substitution is a policy through which countries decide to substitute some of the imported products with others manufactured locally. The advantage of this policy is the import limitation, which in some instances may turn out to be positive for the trade balance and national value-added creation. The disadvantage is that national products lose export competitiveness because they are protected by the state. The export promotion is a policy through which countries decide to develop measures meant to increase the exports of national products. The advantage of this policy is…
3. The country that I have chosen is South Africa. Absolute advantage is a situation when a country has an advantage in producing an item; comparative advantage reflects a situation when a country does not have absolute advantage but on the balance of trade should produce that good anyway. Compared with the United States, South Africa has absolute advantages in some mineral production, but mainly in the cost of labor. A combination of high levels of unemployment and a weak rand (9.05 to the USD) make South Africa's labor costs substantially lower -- even educated, middle class South Africans earn less than their American counterparts. South Africa has a comparative advantage in some manufacturing and service industries, however. It might not be cheaper than some Asian nations, but it has good technological and managerial capabilities that could give it comparative advantage in a number of light manufacturing and resources industries.…
Blinder, A. (2010). Quantitative easing: Entrance and exit strategies. Federal Reserve Bank of St. Louis Review. Retrieved March 6, 2013 from http://research.stlouisfed.org/publications/review/10/11/Blinder.pdf
Yellen, J. (2013). Challenges confronting monetary policy. Board of Governors of the Federal Reserve System. Retrieved March 6, 2013 from http://www.federalreserve.gov/newsevents/speech/yellen20130302a.htm
Aversa, J. (2010). Fed to review $600 billion bond buyback program at Tuesday's meeting. CNS News. Retrieved March 6, 2013 from http://cnsnews.com/news/article/fed-review-600-billion-bond-buyback-program-tuesday-s-meeting
tarbucks in India
Identifying Global Opportunities
Global Business Opportunities
tarbucks is a global retailer of coffee, and is seeking new growth markets, since its largest markets (U.., Canada, UK) are all mature. The company has nearly 20,000 stores (2011 Annual Report). The company has premium positioning in the market with its brand, logo and patents providing key intellectual property to expand globally.
When looking for potential markets, tarbucks seeks the opportunity to license or to form joint ventures with established food service companies. This allows tarbucks to leverage its brand in new markets, while gaining local market expertise. The company has demonstrated in the past that it is skilled at adapting to changing times and new technology, but at its core is a great coffee business.
Business Opportunity Analysis
Looking at new market opportunities, tarbucks has already identified China as a major area for growth (Loeb, 2013). However,…
The company will compile its information on a daily, weekly, monthly and quarterly basis and then communicate this back to Seattle head office, while Tata head office in Mumbai will also receive the information. Most of the decision-making for the business is between the Starbucks manager there and the Tata partner manager. They make joint decisions, and typically rely on information from the joint venture. Only performance measures are communicated back to head office, so there is not much need for a global MIS. However, by linking the Indian operation in with the pre-existing global Starbucks MIS the company will achieve its objectives of being fully connected.
Technology for Managing Information
One of the important considerations here is that Starbucks relies on global MIS. It does not need to create it so much as integrate it with the existing systems. This means expending on infrastructure in India in order to support the company's rapid growth in that country. For Starbucks, being prepared from an information systems perspective for rapid growth is an essential component of the market entry strategy. The company will utilize the Internet, cloud-based computing, and will also use traditional Internet networks and storage, communicating with email and instant message.
Module 9: Identifying human resources for global business activities
Comparative advantage is when someone is better at something than someone else. In the context of economics, it is typically applied to trade. For example, if two countries are trading, they should each produce the good at which they have comparative advantage. The overall production of two countries producing to their respective comparative advantage will be higher than if they both produced to their domestic demand. Key to understanding comparative advantage is the idea of opportunity cost. Where resources are scarce, any use of resources for one purpose means that another purpose must be forgone. But if parties produce that in which they have comparative advantage, not only does overall production increase, but opportunity cost decreases (Landsburg, 2007).
The product life cycle theory is an entirely different theory, reflecting an entirely different subject. The product life cycle theory is focused on the idea that products start with an introductory…
Business Mate (2014). What is transaction cost theory? Business Mate.org. Retrieved December 10, 2014 from http://www.businessmate.org/Article.php?ArtikelId=182
CIA World Factbook. (2011). Australia. Central Intelligence Agency. Retrieved December 10, 2014 from https://www.cia.gov/library/publications/the-world-factbook/geos/as.html
FFS (2014). Fragile States Index 2014. Retrieved December 10, 2014 from http://ffp.statesindex.org/
Geert-Hofstede.com (2014). Retrieved December 10, 2014 from http://geert-hofstede.com/
In the real world, most markets are far from fully competitive, labor-productivity within a country varies over time and full employment is just a dream in most capitalist economies. (Suranovic 1997)
Given the list of such 'unrealistic' assumptions made in the model, it is easy for us to dismiss the results of comparative advantage altogether or to accept it with a large dose of skepticism. But would such dismissal be justified? It is prudent to remember that almost all economic theories operate under a large number of 'unrealistic' assumptions that do not apply to the much more complex real world. In fact, we deliberately simplify the variables in economics in order to be able to construct models and to carry out analysis. Such simplification does not make all economic analysis redundant. It should also be remembered that comparative advantage and international trade would work to the benefit of all individuals…
David Ricardo and Comparative Advantage." (2004). Net MBA.com. Internet Center for Management and Business Administration. Retrieved on November 17, 2004 at http://www.netmba.com/econ/micro/comparative-advantage/
Suranovic, Steven. (1997) "The Theory of Comparative Advantage - Overview." International Trade Theory and Policy. Retrieved on November 17, 2004 at http://internationalecon.com/v1.0/ch40/40c000.html
Colonel Robert Torrens (1780-1864) was a British army officer and owner of the Globe newspaper
David Ricardo (1772-1823): British economist and businessman who was a great proponent of 'free trade.' which both are able to produce the Polish-American mathematician who helped to develop the theory of hydrogen bomb
Comparative advantage states that mutually beneficial exchange is possible whenever relative production costs differ prior to trade. Nations gain by producing goods at relatively low costs and exchanging their outputs for different goods produced by others at relatively low cost. Thus, all potential trading partners can gain enormously through appropriate specialization and exchange. A country has an absolute advantage in producing a good if production of the good absorbs fewer resources than are required in other countries or by other individuals or firms.
Globalization drivers over the last decade include market drivers (common customer needs, global customers, global market channels), cost drivers (global scale economies, sourcing efficiencies, factor of production differences), government drivers (unrestrictive trade and investment policies, compatible technical standards, common marketing regulations) and competitive drivers (high degree of cross-border trade, global competitors, and interdependence among countries in policy, trade/investment and management) (Industry globalization).
The global marketplace is here…
Comparative advantage and absolute advantage. EconomicsInteractive.com. Retrieved from http://www.unc.edu/depts/econ/byrns_web/Economicae/Essays/ABS_Comp_Adv.htm
Hobbss, R.T. (n.d.). Stock split essentials -- what every stock trader needs to know. http://www.streetdirectory.com/travel_guide/144170/trading/stock_split_essentials____what_every_stock_trader_needs_to_know.html
Industry globalization. University of Kentucky. http://www.uky.edu/~wallyf/globaliz.ppt#268,1,Industry Globalization
Understanding stock splits. Investopdiea. http://www.investopedia.com/articles/01/072501.asp
The operating decisions that must be made by Thomas Money include the level of output that the company needs to have in response to the prevailing economic conditions. The company is facing a difficult economic environment at present. Thomas Money's performance is strongly correlated with economic measures that focus on construction, such as new housing starts and new business or institutional construction. In the current environment, housing starts are entering into a long period of decline following the bursting of an unsustainable housing bubble (Byun, 2010). The one bright spot in Thomas Money's business is that there is strength in institutional construction in the health care industry, as the elderly population increases, driving increased demand for health care services (no author, 2007). However, this improvement is not enough to keep Thomas Money's customer in business and as a result the company is facing a high level of repossessions.…
No author. (2007). Health care demand rising, population aging: The imperative to increase physician supply. Health Care News. Retrieved February 3, 2012 from http://www.gnyha.org/5834/File.aspx
Byun, K. (2010). The U.S. housing bubble and bust: Impacts on employment. Bureau of Labor Statistics. Retrieved February 3, 2012 from http://www.bls.gov/opub/mlr/2010/12/art1full.pdf
Landsburg, L. (2007). Comparative advantage. Library of Economics and Liberty. Retrieved February 4, 2012 from http://www.econlib.org/library/Topics/Details/comparativeadvantage.html
Investopedia. (2011). Interest rate parity. Investopedia. Retrieved February 4, 2012 from http://www.investopedia.com/terms/i/interestrateparity.asp#axzz1lFGk3bQ3
nature of U.S.-Mexican trade relations, it is difficult indeed not to think of the statement of Mexican President Porfirio Diaz at the turn of the last century, "Poor Mexico, so far from God, and so close to the United States." For Mexico does continue to seem to occupy a benighted position vis-a-vis its richer and more powerful neighbor to the north, a position that is in no small measure defined and continually recreated by the nature and mechanisms of international trade between the two nations. This paper examines the nature of the trade relations between the United States and Mexico in the light of several classical economics theories and models as well as in respect to recent developments in the wake of the 1992 signing of the NAFTA accord and the last decade's worth of increasing globalization.
Economic Theories and Models
We begin by discussing and summarizing some of the…
Danaher, K. & Burbach, R. (eds.) (2000). Globalize this!: The battle against The World Trade Organization. Los Angeles: Community Archives Publications.
Esty, D. (1994). Greening the GATT: Trade, environment, and the future. Washington DC: Institute for International Economics.
Brexit and British Trade: Advantages and Difficulties
In June 2016, the UK voted to leave the European Union (EU). Commonly called "Brexit," the decision has raised a number of questions regarding Britain's current trading arrangements as well as possibilities and obstacles that await the UK post-EU (Hatzigeorgiou, Lodefalk, 2016). From a trade theory and policy perspective, this paper will assess the UK's current trading arrangements along with the potential advantages and difficulties it will likely face as a result of being outside the EU.
From a mercantilist trade theory perspective, Britain's current trading arrangements are based on what is good for the EU member states (Britain formerly being one of them). It is less protectionist from a nationalist point of view and the idea that a country might import less than it exports and thereby have a trade surplus. In the EU, the UK had a 24 billion pound trade…
ocial Web and You
Explain how social media/web is changing or has changed the ways you, your family, and colleagues find information. Also, how has social media/web changed the ways you interact in your personal and professional life as well as within academic spheres? What functionalities do you think will be invented in the future? Make sure you support your argument with facts, figures, and intelligent analysis. Also, consider any opposing arguments. (One page).
When social networking was just getting started, critiques were concerned that it would lead to isolation -- that people would only connect online and would increasingly neglect their real time friends and family (Putnam, 2000). The Pew Foundation has been conducting a longitudinal study called the Internet & American Life Project that examines how people use the Internet and how that use is changing communication, social interactions, and political activism, among other dynamics. As…
Croucher, S.L. (2004). Globalization and Belonging: The Politics of Identity in a Changing World. Lanham, MD: Rowman & Littlefield.
Friedman, T. (2005, April 5). The World is Flat: A Brief History of the Twenty-First Century (1st ed.). New York, NY: Farrar, Straus and Giroux.
Taibbi, M. (2005, April 21). The peculiar genius of Thomas L. Friedman. New York Press. Retrieved http://rolocroz.com/junk/friedman.html
Moffett, M.H., Stonehill A.I., & Eitemen, D.K. (2012).
Fundamentals of multinational finance (4th Ed.). Boston, MA: Prentice Hall.
In completing these assignments the university requires that you follow APA guidelines and include (in-text citations) in preparing all works, citations, and references.
Each essay question response should be numbered, answered separately, and be at least 200 words (each question) in length but should be submitted as one file.
Some information has been added to responses. Please ONLY add to these responses and format correctly.
In your own words, contrast international financial management with domestic finance.
International financial management and domestic finance share many commonalities. Each deals with interest rates and making the best financial use of assets. However, in international financial management the primary difference is that there is also interest rate risk and risks associated with exchanges. When currencies float, the rate can be subject to volatile movements. For example,…
Moffett, M.H., Stonehill A.I., & Eitemen, D.K. (2012). Fundamentals of multinational finance (4th Ed.). Boston, MA: Prentice Hall.
Comparative advantage states that mutually beneficial exchange is possible whenever relative production costs differ prior to trade. Nations gain by producing goods at relatively low costs and exchanging their outputs for different goods produced by others at relatively low cost. Thus, consumers can gain enormously through appropriate specialization and exchange. A country has an absolute advantage in producing a good if production of the good absorbs fewer resources than are required in other countries or by other individuals or firms.
Specialization leads to economies of scale (Globalization) where more units of a good or a service can be produced on a larger scale, yet with (on average) less input costs. An increasingly competitive global economy drives companies to gain larger global market shares so that they can exploit the benefits of economies of scale (Daniels, Radebaugh, and Sullivan, 2007).
Of course, a harmonious political climate and international embracement of free…
Comparative advantage and absolute advantage. EconomicsInteractive.com. Retrieved from http://www.unc.edu/depts/econ/byrns_web/Economicae/Essays/ABS_Comp_Adv.htm
Daniels, J.D., Radebaugh, L.H., & Sullivan, D.P. (2007) International business: Environments and operations. Upper Saddle River, NJ: Pearson/Prentice Hall. ISBN: 0131869426
Fergusson, I.F. (2007, May 9). The World Trade Organization: Background and issues. http://www.nationalaglawcenter.org/assets/crs/98-928.pdf
Marshall Executive Brief #3 Trade Policy Greece and France
This brief will discuss critical issues of trade policy, including global trade, global currency exchange, business strategy and operations, R&D, human resources, accounting and finance.
Global Trade and Currency Exchange
Free trade is a system where the governments of two countries do not discriminate between the imports and exports of the other country. In particular, free trade in the modern sense applies to tariffs and other trade barriers, or the non-existence thereof. Ricardo described free trade in terms of absolute and comparative advantage. Usually, this concept is described using a simplistic, fictional world in which there are two countries and maybe only two goods. In this example, countries should produce the good in which they have comparative advantage, and in doing so the two countries combined with have a higher aggregate output than if only the country with absolute…
2012 General Mills Annual Report. Retrieved April 18, 2013 from http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTQ5MTc4fENoaWxkSUQ9LTF8VHlwZT0z&t=1
EC. (2013). What is the common customs tariff? European Commission. Retrieved April 18, 2013 from http://ec.europa.eu/taxation_customs/customs/customs_duties/tariff_aspects/
Formiani, R. (2004). David Ricardo: Theory of free international trade. Economic Insights. Retrieve April 18, 2013 from http://www.dallasfed.org/assets/documents/research/ei/ei0402.pdf
Thus, free trade keeps costs lower for consumers and leads to more efficient production. However, there are exceptions to unabated free trade. Most notably, national security dictates restrictions on the sale of military goods to unfriendly countries. Also, one needs to consider appropriate responses to other countries who do not engage in fair trading policies. Recently, the U.S. has seen huge losses of jobs and a redistribution of wealth to Asian countries such as China and India. Perhaps some form of protectionism might be useful to give time for the U.S. time to make plans to deal with the situation.
Comparative advantage and absolute advantage. EconomicsInteractive.com. Retrieved at http://www.unc.edu/depts/econ/byrns_web/Economicae/Essays/AS_Comp_Adv.htm
Wallenius, H. International economics. http://www.tuta.hut.fi/studies/Courses_and_schedules/Isib/TU-91.2011/lecturenotes/Lecture_4.ppt#256,1,3INTERNATIONAL TRADE POLICY
Comparative advantage and absolute advantage. EconomicsInteractive.com. Retrieved at http://www.unc.edu/depts/econ/byrns_web/Economicae/Essays/ABS_Comp_Adv.htm
Wallenius, H. International economics. http://www.tuta.hut.fi/studies/Courses_and_schedules/Isib/TU-91.2011/lecturenotes/Lecture_4.ppt#256,1,3INTERNATIONAL TRADE POLICY
It offers a good theory as it emphasizes on the production and export of those items for which a country possesses a comparative advantage. Furthermore, through its focus on the reduction of taxes and tariffs in international trade and the adherent practices, the theory of comparative costs has set the basis for the contemporaneous processes of market liberalization and globalization.
But the theory has not been spared from criticism. Oumar Bouare states that "the market price of a commodity does not converge toward its natural price. (Then) the outcome of complete specialization in icardo's framework locks third world and developing countries out of industrialization; and free trade could destroy the industrial base of a country, which in the long run could generate more wealth for the country than an imported product. This might also lock the country out of industrialization." b) in 1848, utilitarian economist John Stuart Mill wrote the…
Bancroft, S., Clough, C.W., Economic History of Europe, Heath, 1952
Berdell, J.F., Adam Smith and the ambiguity of nations, Review of Social Economy, Volume 56, 1998
Bouare, O., an Evaluation of David Ricardo's Theory of Comparative Costs: Direct and Indirect Critiques, Retrieved from Policy Innovations
http://www.policyinnovations.org/ideas/policy_library/data/01445on March 6, 2008
S. inflation in check, even during economic boom times.
The debate about increasing protectionism in the U.S. boils down to a clash of cultural values. In the natural course of international trade, there will be those who suffer and those who benefit. International markets are amoral. Trade is conducted between nations with the intent of raising the standard of living for both, but this is on aggregate, not universally. As a result, jobs losses in some sectors, particularly those where the U.S. does not have comparative advantage, are inevitable. To enact protectionist measures to stem those job losses will have three negative impacts.
The first is retaliatory trade measures. Tariffs and other protectionist measures tend to go hand in hand. If a country protects its industries, nations that trade with that country will do the same. This is the classic Smoot-Hawley scenario. To protect American jobs during the…
No author. (2009). Top ten countries with which the U.S. trades. Census.gov. Retrieved December 6, 2009 from http://www.census.gov/foreign-trade/top/dst/current/balance.html
No author. (2007). David Ricardo and comparative advantage. NetMBA.com. Retrieved December 6, 2009 from http://www.netmba.com/econ/micro/comparative-advantage/
US Department of State. (no date). Protectionism in the interwar period. U.S. Department of State. Retrieved December 6, 2009 from http://www.state.gov/r/pa/ho/time/id/17606.htm
Evenett, S. (2009). The G20's assault on world trade. VOX. Retrieved December 6, 2009 from http://www.voxeu.org/index.php?q=node/4008
Mercantilism as a philosophy may be dead, but special interests that lead to trade controls are alive and well (Mercantilism today: how a dead philosophy comes back to life, 2003). Trade controls that affect price and indirectly quantity include tariffs, subsidies, arbitrary customs-valuation and special fees (Daniels, Radebaugh, and Sullivan, 2007). Trade controls that directly affect quantity and indirectly affect price include quotas, voluntary export restrictions, "buy local" legislation, arbitrary standards, licensing arrangements, foreign-exchange controls, administrative delays and requirements to take goods in exchange for selling (Daniels, Radebaugh, and Sullivan, 2007).
Finally, businesses must also consider trade organizations and regional economic integration when deciding where to conduct business. The World Trade Organization promotes trade liberalization and mediates trade disputes and enforcing agreements (Daniels, Radebaugh, and Sullivan, 2007). Major regional trading groups include the European Union, the North American Free Trade Agreement, the Central American Common Market, the Caribbean Community and…
Daniels, J.D., Radebaugh, L.H., & Sullivan, D.P. (2007) International business: Environments and operations. Upper Saddle River, NJ: Pearson/Prentice Hall. ISBN: 0131869426.
Kokko, a., Matha, T., and Gustavsson, P. (2006). Regional integration and trade diversion in Europe. http://ideas.repec.org/p/hhs/eijswp/0231.html
Mercantilism today: how a dead philosophy comes back to life (2003, September 19). National Review. http://www.policynetwork.net/main/article.php?article_id=584
It has been noted that a combination of political pressure, economic incentives and technology change is bringing back call center work that has been offshored to the United States. The technological shift is the most interesting, because it is being driven by the same forces that took these jobs offshore in the first place. Companies have found that not only is it cheaper to have customers perform basic service functions online, but that customers prefer it. By enabling customers to handle basic service functions online, companies reduce the need for call centers altogether. hen the function of the call center changes, not only do customers receive better service, but the cost savings from foreign call centers are reduced.
Foreign call centers derived their cost advantages from the high volume of calls that needed to be handled, and these advantages persisted despite the disadvantages of operating calls overseas. A smaller call…
Drezner, D. (2004). The outsourcing bogeyman. Foreign Affairs. In possession of the author.
Holman, D., Batt, R. & Holtgrewe, U. (2007). The global call center report: International perspectives on management and employment. Global Call Center Network. Retrieved April 11, 2013 from http://www.ilr.cornell.edu/globalcallcenter/upload/GCC-International-Rept-U.S.-Version.pdf
Jamieson, D. (2011). Overseas call centers target of anti-outsourcing bill. Huffington Post. Retrieved April 11, 2013 from http://www.huffingtonpost.com/2011/12/07/overseas-call-centers-outsourcing-bill_n_1135147.html
Muir, D. (2012). Foreign call centers phone home. ABC News. Retrieved April 11, 2013 from http://abcnews.go.com/blogs/business/2012/02/foreign-call-centers-phone-home/
Free trade and the North-South divide
Globalization has been bringing along several concepts and ideologies and the concept of free trade has been growing in tandem with globalization though with several obstacles along the way. Basically, the meaning and context of free trade is a condition where international trade is facilitated making possible the exchange of capital, goods as well as services across international territories or borders without undue restrictions, conditions or controls. Free trade is significant for most nations since it significantly contributes to a good share of the Gross Domestic Product (GDP) of those nations. It is the type of trade that has been in existence for many decades and to date it is held as one of the most important kind of trade in facilitating the economic, political as well as social ties and interactions of nations of the world. Some of the aspect that facilitate the…
Brown Consultancy Services. (2012).Theory of International Trade. Retrieved February 25, 2015 from http://www.brownconsultancy.com/ds-theory-international-trade.aspx
Costinot, A & Donaldson D., (2004) Ricardo's theory of comparative advantage: Old idea, new evidence. Retrieved February 25, 2015 from http://www.nber.org/papers/w17969.pdf-new_window=1
Direct Selling Education Foundation, (1998). The North American Free Trade Agreement. Retrieved February 25, 2015 from http://www.library.unt.edu/gpo/oca/nafta.htm
Earlier studies based on Bretton oods data were only refuted because the data sets of the later studies were insufficiently long. It may be, therefore, that Himarios is one of many that will now be able to demonstrate that long-term equilibrium is possible. It may that it requires nearly at least three decades' worth of data and a multi-country study in order to see the equilibrium emerge, meaning that previous theories were simply not taking into consideration the time frames that would be required for production, wage and policy shifts to be implemented and have their impact on a nation's balance of trade.
Himarios' findings do suggest that externalities cannot be maintained. hile a single government can maintain consistent economic policy for decades seemingly regardless of the consequences (Cuba or North Korea, for example) a free economy cannot. Eventually a trade deficit will result in a workforce demanding jobs, for…
Ahmad, J. & Yang, J. (2004). Estimation of the J-curve in China. East-West Center Working Paper. No. 67, 2004. Retrieved March 31, 2010 from https://scholarspace.manoa.hawaii.edu/bitstream/10125/3706/1/ECONwp067.pdf
Akbostanci, E. (2002). Dynamics of trade balance: The Turkish J-Curve. Economic Research Center. Retrieved March 31, 2010 from http://www.erc.metu.edu.tr/menu/series02/0205.pdf
Backus, D., Kehoe, P., Kydland, F. (1994). Dynamics of trade balance and the terms of trade: The J-curve? The American Economic Review. Vol. 84 (1) 84-103.
Bahmani-Oskooee, M. & Niroomand, F. (1998). Long-run price elasticities and the Marshall-Lerner condition revisited. Economics Letters. Vol. 61 (1) 101-109
A In this example, the equilibrium price and quantity is $6 and 81 pizzas.
b. If the price was above $6, there would be too much supply and not enough demand. The market for pizzas would move towards equilibrium, however. Pizza suppliers would have excess capacity. They would address this issue two ways. First, they would take steps to reduce capacity, for example a pizza maker could go out of business. Second, the pizza makers would lower their prices in order to stimulate demand and fill out the excess capacity. In this way, the price of pizza would be reduced through competition, and the supply of pizza would also be reduced as inefficient operators lose money and quit the business. As the price of pizza comes down, more buyers will enter the market. This will result in an increase in demand for pizzas. The total result of this is that…
Moreover, the Court stated that affirmative action could not become a permanent policy and suggested that sometime in the future, when affirmative action would no longer be necessary to promote diversity, it would no longer be permissible for universities to employ affirmative action in their admissions process (See generally, Grutter v. Bollinger, 539 U.S. 306 (2003)). Given the incredible advancements in the struggle for equality over the past half-century, it is conceivable that the Supreme Court is right, and that affirmative action will no longer be necessary in another quarter of a century.
Getting a job
One of the more pervasive myths about affirmative action in employment decisions is that if equally-qualified white and black people are applying for a job, the black person is more likely to get the job. That is simply and patently, untrue. First, it is impossible to have to identically-qualified applicants, which makes it an…
13 myths about affirmative action. (2008). Retrieved March 7, 2009 from African-American
Policy Forum. Web site: http://aapf.org/tool_to_speak_out/focus/
Brown v. Board of Education of Topeka, 347 U.S. 483 (1954).
Executive Order 10925. (1961). Retrieved March 7, 2009 from the Equal Employment
International Trade: Trends in International Trade and the Economy
In recent years many developments are occurring within the world of international trade. These developments are vital to ones understanding of world economy and trade. As technology continues to advance the rate at which corporations can communicate across distant localities, more and more organizations are finding new ways to not only communicate but also trade products and services.
This paper will focus on recent trends and patterns in trade and their effects on the economy. The paper will also examine the potential benefits international trade has to offer participating nations compared with any negative effects free trade may have on the economy or citizens of a particularly nation. One of the more recent developments in international trade is recognition by economists of the importance of understanding industrial organizations from a theoretical perspective (Grimwade, 2000). Hence this paper will also attempt to…
Grimwade, N. International Trade: New Patterns of Trade, Production & Investment.
London: Routledge, 2000.
Kitson, M. And Michie, J. (1995). Trade and growth: A historical perspective. Chapter 1. In
J. Mitchie and J. Grieve Smith (eds.), Managing the global economy. Oxford: Oxford University Press.
Therefore, a country which is able to produce one good with a lower opportunity cost than another country, should specialize in producing that good which will turn into a competitive advantage.
However, when assessing this theory at the level of international trade, it is harder to depict the competitive advantages. The model may seem to be unrealistic. The resources employed in real world are not restrained to labor and the markets in which the goods are supplied are not perfectly competitive. Moreover, there may be countries able to specialize in the production of one or several goods and other countries unable to find any competitive advantage. Other disadvantages are the ones assembled when trying to form a general framework of the labor costs. Due to the fact that these costs are similar within the boundaries of a certain country and vary from one country to another, it is problematical to…
LaHaye, Laura. "Mercantilism." The Concise Encyclopedia of Economics. The Library of Economics and Liberty. 11 Mar. 2007 http://www.econlib.org/library/enc/Mercantilism.html
Mercantilism." The Columbia Encyclopedia, Sixth Edition. 2001-05. 11 Mar. 2001 http://www.bartleby.com/65/me/mercanti.html
Biography of Adam Smith (1723-90)." The Concise Encyclopedia of Economics. The Library of Economics and Liberty. 11 Mar. 2007 http://www.econlib.org/Library/Enc/bios/Smith.html
Korten C., David. "The Betrayal of Adam Smith." When Corporation Rule the World, 2nd Edition. 11 Mar. 2007 http://www.pcdf.org/corprule/betrayal.htm
Buy local is a term which has diversified interpretations. According to one research, the term is applicable to locally run companies. Governments deem the term, Buy local, as a geographical factor. The critics say that corporations have toyed with the term as for them its local washing (Milchen, 2014).
Local purchasing is the tendency to buy locally produced products over high quality international products. The practice is beneficial for locally based industries. It is sometimes referred to as buying local, which is similar to the phrase think globally, act locally. Speaking nationally, the exact opposite of buying local is import exchange. In layman words, it means an industrial policy / agricultural policy, which promotes internationally-produced products over locally-produced items (Forge, 2013).
There are too many enticements to purchase from the local market. Hence with present market circumstances, people are willing to pay some extra costs entailing inspection, transport, packaging…
Forge, A. (2013). Frugavore: How to Grow Organic, Buy Local, Waste Nothing, and Eat Well Skyhorse Publishing, Inc.
Hess, D.J. (2009). Localist Movements in a Global Economy: Sustainability, Justice, and Urban Development in the United States MIT Press.
Irwin, D.A. (2011). Peddling Protectionism: Smoot-Hawley and the Great Depression. Princeton University Press.
Levy-Yeyati, E.and Sturzenegger, F. (2005). Classifying Exchange Rate Regimes: Deeds vs. Words. European Economic Review 49 (6): 1603 -- 1635.
Only a few decades ago, China was a struggling economy. It is much newer in the free market economy system as compared to the already established economical giants, given the country's communist history. China, a country with an extremely high population, put its resources to its best possible advantage and that was something which contributed towards the country's rapid growth. China has one of the cheapest labor and energy and power resources available for its production. As a result, the industries can achieve economies of scale and thus can cut down on their cost of production. As a result, China enjoys a greater absolute advantage over its competitors. Importers around the world have realized the fact that importing goods from China is relatively much cheaper as compared to imports from other developed economies. These cheaper imports allow them a greater profit margin. Moreover, given the fragile economic conditions and declining…
Kreh, W. (2008). Money, Debt and Wealth of Nations. Canada: COMER publications
Lipsey, R. & Chrystal, K. (1997). An Introduction to Positive Economics. London: Oxford University Press.
Zweig, D. & Jianhai, B. (2005). China's global hunt for energy. Foreign Affairs, 84(5), 25-38.
Hale, D. & Hale, L. (2003). China takes off. Foreign Affairs, 82(36).
Healthcare System Practice Guideline
Introduce an overview of one healthcare system practice guideline
There are numerous areas within health care that demand change in everyday healthcare practice. More often than not, irrespective of the healthcare setting, an inventive group is required to conduct research and facilitate change. There are numerous practices that require change or upgrading. This is facilitated through the establishment and advancement of clinical practice guidelines. The selected healthcare system practice guideline is Management of Diabetes Mellitus in Primary Care (2017). This particular guideline delineates the important decision points in the Management of Diabetes Mellitus (DM) and provides well-outlines and wide-ranging evidence based recommendations assimilating prevailing information and practices for practitioners throughout Department of Defense (DoD) and Veretan Affairs (VA) Health Care Systems. Diabetes mellitus is an illness that is caused either by an absolute or relative deficiency in insulin giving rise to hyperglycemia. Type 1 DM (T1DM)…
One of David Ricardo's theories is the theory of Ricardian equivalence. Under the theory of Ricardian equivalence, government budget deficits do not change the level of consumption among consumers. The theory behind this is that, no matter when the government chooses to pay for its expenditures, citizens are ultimately responsible for paying those deficits. Therefore, people will change their spending based on government expenditures, regardless of whether the government is borrowing to pay for those expenditures.
Another of David Ricardo's economic theories is the theory of comparative advantage. Under the theory of comparative advantage, a country should focus its production efforts on those items it produces best. In order to obtain items that a country finds difficult to produce, it should trade with other nations, who are, in turn, focusing their production efforts on those items they produce best. Furthermore, under the theory of comparative advantage, it may…
66). St. Justinus' was influenced by St. Caster at Coblenz and churches Michaelstadt and Seligenstadt (Fegusson & Spiers p. 220). The columns and roofs are of cultural interest and the massive Gothic choir and its original seating still exist.
St. Justinus' has undergone changes over the years. In 1298 the relics of St. Justinus' were transferred to the mother church St. Margaret who in turn dedicated the church. In 1419 the Antoniter order made numerous altercations to the church including the building of the gothic chancel. In the early 18th century the church added an organ that is mostly intact today (The American Organist). In the 1930s and the 1980s St. Justinus' underwent restoration; today the church belongs to the parish of St. Josef in the Frankfurt district of Roman Catholic Diocese of Limburg (aedekers Frankfurt).
4. Krak des Chevaliers, Syria (AD 1144 -- 1250) -- 950…
Albright, W.F. (1936), "Archaeological Exploration and Excavation in Palestine and Syria, 1935," American Journal of Archaeology (Archaeological Institute of America) 40 (1): 154 -- 167
Baedekers Frankford: a city guide series. Prentice Hall Press, 1987. Print.
Bennett, M. The Hutchinson dictionary of ancient and medieval warfare. Chicago, Il: Helicon Publishing, 1998. Print.
Billings, Malcolm. The Crusades: Five Centuries of Holy Wars. New York: Sterling
Strategic easons why countries
Protectionist Theories and Measures
Exchange ate Manipulation
International patent systems
Protectionism is a concept through which governments and states exercise control over the trading patterns of the country and use measures that in turn are expected to help the domestic industry develop.
The main argument that we shall be following for this essay is that Free trade can only be "free" when nations and states are at the same level. Forcing economies to open up can only cause chaos and ruin for those economies. Therefore some measures of protectionism are valid and should be allowed to countries without there being any penalizing measures.
The notion behind this theory, since earlier day's lies in the fact, that government officials have long been of the opinion, as explained by the following paragraph (Lighthizer, 2008):
Bartlett, B. 1998, July. The Truth about Trade in History. Retrieved November 22, 2011, from CATO Institute Web Site: http://www.cato.org/pub_display.php?pub_id=10983
Gwartney, J.D., Stroup, R.L., Sobel, R.S., & MacPherson, D. 2008 . Economics: Private and Public Choice. Mason: Cengage Learning.
Kaempfer, W., Tower, E., & Willett, T. 2002. Trade Protectionism. Encyclopedia of Public Choice .
Lipsey, R.G., & Chrystal, K.A. 2007. Economics. Oxford: Oxford University Press.
When debt becomes a multiple of GDP, then responsible government is not being undertaken.
16- 3) a. The equilibrium is .016 dollars per peso.
b. If the Philippine government set the exchange rate at 50 peso, they would need to sell 20 pesos per month, because supply would be 60 and demand would be 80.
16-7) a) A country would want an overvalued currency if they were a net importer of goods. This would make foreign goods cheaper. The policy would cause harm to that country's exporters.
b) A country would want an undervalued currency in order to facilitate exports. This would cause harm to importers, other countries who want to sell their goods in that market, and to their own citizens traveling abroad.
16-9) a) The exchange rate would be the equilibrium point. In this case, $0.90 dollars per euro.
b) If there is no intervention, the new equilibrium…
Leaders come in many different types and flavors with the visionary leaders being the most prominent and cited much of the time. Names that come to mind are Oprah Winfrey, Steve Jobs and Warren Buffett. This report will cover the topic of visionary leadership in general as well as a focus on one leader in particular, that being Bill Gates of Microsoft fame, and how he himself signified and exemplified visionary leadership (USA Today, 2013). The author of this report is asked to what makes Bill Gates a visionary with some specific examples. The author is also asked to clarify and explain what a visionary leader brings to the workplace they operate in. The author is asked whether a visionary leader is needed in every workplace with a clarification of why or why not. Finally, the business conditions that call for visionary leadership are also asked for.
Macke, J. (2013, February 14). Best Buy Is Losing Its Best Chance of Survival: Jeff Macke | Daily Ticker - Yahoo! Finance. Yahoo! Finance - Business Finance, Stock Market, Quotes, News. Retrieved May 31, 2013, from http://finance.yahoo.com/blogs/daily-ticker/best-buy-losing-best-chance-survival-jeff-macke-181740101.html
Microsoft. (2013, May 31). Microsoft Corporation. Microsoft Corporation. Retrieved May 31, 2013, from http://www.microsoft.com
USAToday. (2007, September 3). Most influential people - USATODAY.com. USA TODAY: Latest World and U.S. News - USATODAY.com. Retrieved May 31, 2013, from http://www.usatoday.com/news/top25-influential.htm
This has been represented through both advertisement campaigns highlighting individual beauty and greater media attention to those who do not bear resemblance to traditional images of beauty. In "sex, lies and advertising," it is evident that the use of magazines and other advertising mediums are the direct correlation to why so many women feel that they need to change themselves. These images however all false in nature since they do not accurate depict what the feminine form and beauty is. There is no strong conflict of interest between women's magazines and beauty products because the idea of beauty is now so deeply entrenched in social and cultural frameworks those magazines will not shake the desire of women to want to be beautiful. Furthermore, the prevalence of women's magazines only makes the problem appear more subliminal and give people the false sense of acceptance that is not in fact present.
UNNNG HEAD: Microeconomics
All the countries in the world are dependent on each other nowadays. Countries need natural resources that are not present in their homeland or they may also be in need of some finished goods that they don't produce. This interdependency gives a beginning to trade between countries. The notion of international trade has become quite common nowadays as all the countries are participating in it. In addition to fulfilling the requirements of the country, international trade also increases overall efficiency of the production of a good. As some countries have the resources to produce certain goods at a lower cost than other countries. So, that cost efficient country can be given the chance to produce that good for other countries as well so that the overall cost of that product falls. The decision of international trade is undertaken by economies keeping either comparative or…
Andersen, L. And Babula, R. (2008). The link between openness and long-run economic growth. Journal of International Commerce and Economics, 1 pp. 1 -- 20.
Lipsey, R. And Harbury, C. (1994). First principles of economics. Oxford [u.a.]: Oxford Univ. Press.
Skipton, C. (2008). Trade Openness, Investment, and Long-Run Economic Growth. [e-book] Tampa: University of Tampa. p. 2. http://chuckskipton.com/uploads/SKIPTON_Openness_and_Investment_Ver_1E.pdf [Accessed: 25 Sep 2013].
Sun, P. And Heshmati, A. (2010). International Trade and its Effects on Economic Growth in China. [e-book] Bonn: Institute for the Study of Labor. pp. 7-11. http://ftp.iza.org/dp5151.pdf [Accessed: 25 Sep 2013].
A fundamental economic concept of global commerce is, that in a marketplace with reduced hindrances towards the global movement of goods, nations can find it lucrative to focus on the creation of products that have a relative benefit in manufacturing (Wolak, 2011). This paper offers an evaluation of economic development methods and both, relative and absolute, benefit in global trade as it pertains to the USA, China as well as Germany.
By having a great quantity of low-priced work crews compared to the United States, it is no wonder that China as well as other developing nations, around the world, focus on the creation of labor-intensive items. For equivalent motives, the US may focus on the creation of products which are not only human but also physical-capital intensive due to the comparative wealth of a highly-knowledgeable work force and technically advanced products within the US. This particular split of…
The control is exercised by at regular board of directors' and annual stockholders' meetings. Records have to be kept to document decisions that are made by the board of directors. In small, closely held corporations operations are more informal, but record-keeping is not eliminated entirely. Officers of a corporation can be liable to stockholders for improper actions. Liability is generally limited to stock ownership, except where fraud is involved (ibid).
The most important attribute of a corporation is that shareholders in the company are not liable for corporate debts. This is the probably the most important attribute of a corporation. In contrast, in a sole proprietorship or a partnership, the owners are personally responsible for all of the business debts. If the assets found in the sole proprietorship or partnership are not adequate to satisfy the debt, creditors can go after each owner's personal assets, such as their bank account,…
Gerstein, J. "What Are the Advantages and Disadvantages of Sole Proprietorship, Partnership and Corporation." 247advisor.com. 24/7 Advisor, n.d. Web. 20 Oct 2011.
"Incorporation." Legalzoom.com. Legalzoom, 2011. Web. 20 Oct 2011.
" (1999) eported as being potential dimensions for disaggregation are those of "market, season, month, week, section of week, segment, and itinerary." (McGill and yzin, 1999)
American Airlines experienced dramatic growth when other airlines were going bankrupt through increasing its capacity. American Airlines is reported as a prime example of an airline that grew successfully during the years that TWA and other failed. United Airlines held a strong financial position as well that assisted the airlines in weathering the reduction of flights and a steep decline in travel while other airlines failed miserably winding up in bankruptcy. American Airlines managed to bring about a reduction in costs while other airlines including TWA simply could not find a way to reduce costs, which was further stressed by the airlines lack of a solid financial base. In the airlines industry, just as in other industries the ability to profit on a higher…
Dempsey, Paul Stephen (2008) the Financial Performance of the Airline Industry Post-Regulation. Symposium 2008. No. 2 Vol. 45. Retrieved from: http://www.mcgill.ca/iasl/sites/mcgill.ca.iasl/files/ASPL614_Industry_PostDeregulation-Houston.pdf
McGill, JI and Van Ryzin, GJ (1999) Transportation Science. Vol. 23, No.2. Retrieved from: http://ben-israel.rutgers.edu/711/McGill-VanRyzin.pdf
Tolkin, J. (2010) Airline Bankruptcy: The Determining Factors Leading to an Airline's Decline Claremont Colleges Scholarship @ Claremont. Fall 2010. Retrieved from: http://scholarship.claremont.edu/cgi/viewcontent.cgi?article=1088&context=cmc_theses
Since the reader is quite common in Australia, it is only natural that the offering is vast, leading to the conclusion that Barnes and Noble would encounter serious competition. The general perception over the American companies varies, and a generalization is not possible to achieve. However, most readers would agree to the elimination of the bans, whilst those directly involved with the industry would not. The Australian book industry is in many ways similar to the American one, in the meaning that they suffer the consequences of the same global mutations. "The Australian Book industry is like many industries currently faced with huge challenges. The effect of discounting on growth, the impact of GST on imports as well as the impact of digital media all have a profound effect on what is a very large, and predominantly Australian-based content, industry" (GS1 Australia, 2008). A study conducted by the…
Chettle, N., 2008, Book Industry Debates Cheap Imports, ABC News, http://www.abc.net.au/news/stories/2008/07/17/2306228.html . Ast accessed on September 25, 2008
2004, State Premiers Promote Reading Around Australia, Australian Library and Information Association, http://www.alia.org.au/publishing/incite/2004/12/state.premiers.htmllast accessed on September 25, 2008
2008, the World Factbook - Australia, Central Intelligence Agency, https://www.cia.gov/library/publications/the-world-factbook/geos/as.html last accessed on September 25, 2008
2008, Book Industry, GS1 Australia, http://www.gs1au.org/industry/book.asplast accessed on September 25, 2008
Primary and processed primary products still account for nearly half the South's total merchandise exports to the North, and for many developing countries remain the sole source of foreign exchange earnings. Moreover, both casual observation and serious research (halley & Colleen, 1996) suggest that trade in primary products is shaped by differences in natural resource endowments, in accordance with the general principles of H-O theory (halley & Colleen, 1996).
However, land is of much less concern in the narrower context of this thesis. Of course, all manufactures contain some primary products (and what are called here 'processed primary products are classified as manufactures in production and employment data). Possession of a particular natural resource may therefore give a country a comparative advantage in manufactured goods embodying the primary product concerned. But this is not necessarily or generally the case, even for processed primary products, since most raw materials are internationally…
Abreu, Marcelo de Paiva. "Developing Countries and the Uruguay Round of Trade Negotiations." Proceedings of the Worm Bank Annual Conference on Development Economics 2009: 21-57.
Adams, John. "Trade and Payments as Instituted Process: The Institutional Theory of the External Sector." Journal of Economic Issues 21, 2007: 1839-1860.
Agosin, Manuel R., Diana Tussie, and Gustavo Crespi. "Developing Countries and the Uruguay Round: An Evaluation and Issues for the Future." In International Monetary and Financial Issues for the 1990s: Research Papers for the Group of Twenty-Four, vol. VI. New York: United Nations, 2007.
Backus, D.K., and P.J. Kehoe, 2002, "International evidence on the historical properties of business cycles," American Economic Review, Vol. 82, pp. 864-888.
Knowledge and truth were considered absolute and immutable by these two, though for very different reasons, which is the complete antithesis to the empirical theories of Popper, Peirce, Kuhn, and James. The progression of knowledge in the face of such certainty could only result in pure growth from previously established claims, as no truth could ever be said to exist that was not thoroughly and absolutely proved by careful extrapolation from a priori conclusions.
Several interesting anthropological occurrences have convinced me that the empirical method, with its possibility for the adjustment of truth based on the framework or paradigm from which the determination of truth is made, is a much better way of understanding truth and the concept of "absolute certainty." Cultures exist that have no concept of, or words for, time. "Yesterday" and "today" are meaningless concepts that do not exist. The extreme difficulty of communication that this presented…
Burch, Robert. "Charles Sanders Peirce." Stanford Encyclopedia of Philosophy. 2006. http://plato.stanford.edu/entries/peirce/#dia .
Kessler, Gary. Voices of Wisdom: A Multicultural Philosophy Reader, 5th Edition. New York: Wadsworth Publishing, 2003.
Pinter, Harold. "Nobel Lecture: Art, Truth, and Politics." 2005. http://nobelprize.org/nobel_prizes/literature/laureates/2005/pinter-lecture-e.html ,
Thornton, Stephen. "Karl Popper." Stanford Encyclopedia of Philosophy. 2009.
They also had the power to decide the merits of evidence and arguments. In the 19th century, judges gained greater control over juries and the role of juries became what it is currently; hearing evidence presented on both sides and determining the guilt or innocence of the accused.
The advantages of the jury system lie in the foundational elements articulated and supported by amendments and the Supreme Court. The Sixth Amendment provides that "in all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial" (Landsman & Hastings 1992). A speedy trial was emphasized to avoid the accused languishing in prison for extended periods of time prior to a trial, or have the accused fate put off for an indeterminate amount of time. Further, the Sixth Amendment guarantees every citizens right to an impartial jury. The intent is that the prospective juries not enter into the…
Ackerman, B. (1993). Neo-federalism? Constitutionalism and Democracy, Cambridge:
Allan, T. (2001). Constitutional justice: A liberal theory of the rule of law, Oxford: Oxford University Press.
Decent, E. (2010). Democratizing common law constitutionalism, McGill Law Journal, 55(3), 511-535.
Hogue, A. (1986). Origins of the common law. Indianapolis: Liberty Press.
ent vs. Buy
Because of many factors and costs to consider, the decision to rent vs. buy continues to plague the minds of many. A strategy for one person may not be a prudent strategy for another. Hence, the answer is rather relative as oppose to an absolute or universal decision. The real estate market is one of a cyclical nature, with periods of ebbs and flows. However, the key is stability and longevity to withstand downturns.
Whether to rent or buy is a question that looms in the minds of many. The answer simply depends upon the current market conditions and the needs of the consumers. Over the past decade, owning has been a financial success for most people, with prices rising almost in a straight line, with low, low interest rates feeding into the equation and with homeowners' equity subsequently bounding higher. Conversely, in certain markets such as…
Arends, B. (3 June 2010). A fresh look at rent vs. buy. Wall Street Journal (Online).
Home Buyer's Information Center. (n.d.). Renting or buying: Advantages and disadvantages. Retrieved from http://www.ourfamilyplace.com/homebuyer/buyorrent.html
Investopedia. (2011). Economics basics: Demand and supply. Retrieved from http://www.investopedia.com/university/economics/economics3.asp#axzz1igT4E2hU
National Association of Realtors (NAR). (2011). Housing and economic statistics. Retrieved from http://www.realtor.org/research/research/reportsstatistics
To some users of personal computers, who state, never trust a computer that you cannot lift; the IBM has been viewed, more often than not, as an enemy, and according to Byte, the computer magazine, this was because of the fact that the IBM company rose to fame mainly on the basis of its mainframe computers, that were large and forbidding, and overwhelmingly bulky. This was probably why, when the rest of the world was eyeing the emerging opportunities in the minicomputer market, the IBM never paid any attention, and even though IBM did succeed in capturing a large chunk of that market, it did not happen until Digital had captured the minicomputer market and had grown into a large corporation.
In the past few years, IBM has agreed to change the ways in which it conducts its business, and adapt to the changing times when the prices of computers…
Ellett, John. "About / Best Practices Center, Results Oriented Integrated Marketing the Dell
Way" Retrieved at http://www.nfusion.com/about/best_practices/Results-Oriented_Integrated_Marketing.html . accessed 27 July, 2005
Konrad, Rachel. (10 August, 2001) "From Bits to Boom, IBM PC turns 20" Retrieved at http://ecoustics-cnet.com.com/Mixed+record+as+PC+turns+20/2009-1040_3-271422.html . accessed 27 July, 2005.
Outsourcing Law, Deal structure, Case Study." Retrieved at http://www.outsourcing-law.com/DealStructures/IBM.Lenovo.2005.01.06.htm. accessed 27 July, 2005
If the leaders of our national financial institutions had asked 'are these moral actions right, ethically speaking, from the point-of-view of my profession' rather than 'will these moral actions make money,' the world financial crisis would never have occurred.
Utilitarianism also tends to deemphasize minority rights -- but merely because a group is in the minority does not mean that it is engaged in a moral wrong. This can be seen in the current debate over gay marriage. Many people stress that marriage is 'naturally' between a man and a woman, simply because the majority of the population is heterosexual. However, by safeguarding only majority rights, African-Americans and other historically-discriminated against groups would never have been allowed to enjoy the promise of the American dream. Kantian principles demand upholding the moral integrity of all human beings, regardless of perceived consequences. During the American Civil Rights movement, many opponents of integration…
2.3: Theme I: This study's first theme defines hedge funds and presents a synopsis of their history.
2.: Theme 2: Ways hedge funds compare to mutual funds are noted in this section, this study's second theme.
2.5: Theme 3: segment denotes techniques hedge funds utilise in investing.
2.6: Theme : A number of ways rising and falling markets impact hedge funds, this section's theme links to the thesis statement for this thesis/Capstone.
2.7: Analysis: The analysis section presents a number of pertinent points retrieved from the reviewed literature.
CHAPTER III: DISCUSSION; CONCLUSIONS; RECOMMENDATIONS
3.1: Introduction: This final chapter's introduction reviews the original study aim and objectives presented at the start of this thesis/Capstone, relating to hedge funds techniques. This section also recounts this study's thesis statement.
3.2: Discussion: During this segment, this researcher relates final considerations regarding hedge funds techniques, cross-referencing several points the reviewed literature noted. This researcher also…
4. The Investment Advisers Act.
The Securities Act of 1933, (SEC):
…oversees the mutual fund industry's compliance with specific regulations, including, the Internal Revenue Code which set additional requirements regarding a fund's portfolio diversification and its distribution of earnings, and the National Association of Securities Dealers, Inc. (NASD) oversees most mutual fund advertisements and other sales materials. In addition, mutual funds must have directors who are responsible for extensive oversight of the fund's policies and procedures. For virtually all funds, at least a majority of their directors must be independent from the fund's management.
conservative intellectual movement, but also the role of William uckley and William Rusher in the blossoming of the youth conservative movement
Talk about structure of paper, who not strictly chronologically placed (ie hayek before the rest) - in this order for thematic purposes, to enhance the genuiness of the paper (branches of the movement brought up in order of importance to youth conservative revolt) For instance, Hayek had perhaps the greatest impact on the effects of the movement - uckley and Rusher. These individuals, their beliefs, their principles were extremely influential in better understanding the origins, history, and leaders of American conservatism.
Momentous events shape the psyche of an individual as the person matures. A child grows up in poverty vows to never be like his parents, and keeps this inner vow to become a millionaire. A young woman experiences sexual trauma as a teen, and chooses a career that…
George Nash, The Conservative Intellectual Movement in America Since 1945 http://www.nationalreview.com/22dec97/mcginnis122297.html . National review online The Origins of Conservatism George Mc Ginnis
Volume Library #2, p. 2146
Schneider, Cadres for Conservatism
McGinnis, National Review Online
Leisure May Be the Death of Europe
Time to Kill
In his article, Time to Kill - Europe and the Politics of Leisure, Steven Muller examines the efforts of Europe to reconstitute itself in the aftermath of the Cold War. By analyzing such factors as economics, politics, social functions, labor and unemployment, the author concludes that, in contrast to the prevailing sense of optimism, Western Europe is in fact facing a period of, "acute economic stagnation, the undermining rather than the expansion of democracy, and serious social upheaval" (Muller, 26). The primary cause of this crisis, according to Muller, is Europe's inability to rapidly or effectively deal with revolutionary changes in the human condition, which will result in a decreasing number of individuals enjoying the privilege of employment, and an increasing amount of leisure and idleness. I agree with the author that, unlike the other technologically advanced nations such…
Muller, S. (1997, Summer). Time to Kill - Europe and the Politics of Leisure. National Interest, 26-37.
globalization increased and standards of living around the world went up and with the expansion of industrialization in many less developed countries around the world, the demands of the automotive industry around the world increased significantly. This resulted in a worldwide boom in the international automotive sector with many individual countries entering the global automotive market as potential producers. As a result, the international competition in the automotive sector grew more aggressive over a period of time.
The sharp increase in international competition in the automotive industry during the recent years and the fact that automotives are not a 'Fast Moving Consumer Good' made, the countries involve in automotive production realized the growing need to stay competitive. The need to maintain an absolute competitive advantage and constant innovation, research and development was inevitable. Moreover, the international automotive industry was dominated by a handful of big players of the likes of…
Abbott, J.P. (2003). Developmentalism and Dependency in Southeast Asia: The Case of the Automotive Industry. New York: Routledge. Retrieved March 8, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=108343360
Amrina, E., & Yusof, S.M. (2010). Manufacturing Performance Evaluation Tool for Malaysian Automotive Small and Medium-sized Enterprises. International Journal of Business and Management Science, 3(2), 195+. Retrieved March 8, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5052752860
Hyun, J.H. (2008). A Comparative Analysis of Transplants and Industrial Location of Japanese and Korean Automotive Industries in Europe. International Journal of Business, 13(3), 215+. Retrieved March 8, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5045029782
Kohpaiboon, A., Kulthanavit, P., Vijitnopparat, P., & Soonthornchawakan, N. (2010). Global Recession, Labour Market Adjustment and International Production Networks: Evidence from the Thai Automotive Industry. ASEAN Economic Bulletin, 27(1), 98+. Retrieved March 8, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5044271159
scientific observation that distinguish it from our everyday observation are that scientific observation is conducted using precisely defined observational conditions; by performing the observations systematically and objectively; and through keeping careful and accurate records.
Scientific observation, as opposed to everyday observations, must take place within certain well-defined parameters, whether in naturalistic or laboratory settings. Furthermore, the scientist does not choose the parameters arbitrarily but rather relies on such methods as sampling to conduct the observations and experiments in a way that renders them valid. For example, if a researcher wanted to examine the effects of watching violent video games on a child's behavior, he or she would first have to determine which video games would be deemed violent, and what specific behavioral affects to look for. An everyday observation of the same phenomenon would be far less precise.
Also, everyday observation can be passive and filtered through the individual's biases…
Securing Effective Employees
Company Competitive Advantage
Despite the fact that job seekers are the ones who predominantly try to make themselves attractive to the potential employer, there are numerous instances where the organization has to make itself look more attractive to the talented potential employee in order to get the best out f the available talent out there. Some of the ways that an organization can make itself more attractive and win the talented employees over the other organization is through displaying the positive organizational traits. The traits of an organization can make a talented employee to opt for them other the others and some of these traits are competence and innovativeness of the organization, sincerity, friendliness, trust, kindness and provision of a family like atmosphere. Familiarity is yet another way through which an organization can gain competitive advantage over other competitors when it comes to getting the best talent…
City of Bothell (2010). Human Resources Analyst. http://www.mrsc.org/jobdesc/b67hra.pdf
Supporting Advancement (2014). Sample job descriptions and job description tips. http://www.supportingadvancement.com/employment/job_descriptions/fundraising/development_writer.htm
Presidential power is thus a matter of persuasion of the public and the other branches and actors within the government. Today in particular, because of the ability of the President to invoke the information of the intelligence agencies, information which the President has special authority over, he can persuade members Congress that if they do not do his bidding, they are jeopardizing America. hen the presidential office was first created, the federal army and navy were far smaller than today -- and only Congress has the power to declare war. Yet many undeclared wars have been waged subsequently, and Congress has ceded some of its powers of controlling these institutions, from the Gulf of Tonkin resolution during Vietnam, to being persuaded by faulty intelligence it is assured it is true, as in Iraq. Presidents like Gerald Ford have limited the prosecutorial abilities of the nation by bestowing pardons, even changed…
Neustadt, Richard E. Presidential Power and the Modern President. New York: Free Press,
The already shaky relationship between the Qatar state and Iranian society was further undermined by the Western exploitation of Iranian resources during the second half of the nineteenth century.
From 1918 until 1921 "British subsidies kept the government afloat, and British military and administrative advisers attempted to reorganize Iran's army and to manipulate the various political factions within the country to British advantage" (Cleveland, 185)*. When Britain added insult to injury by offering Iran a loan in exchange for exclusive advisory privileges, anti-imperial demonstrations broke out in several cities. Widespread discontent grew further. The Qatar government was regarded as ineffective and pro-British. A determined military commander finally took action and put a stop to the chaos.
Reza Khan used the political climate to advance from the position of commander and chief of the army in 1921 to that of the shah of Iran in 1925. His election overthrew the Qatar…
Transforming Scheduled Death Into Renewed Life
One of the harsh realities of living in an otherwise-free society is the fact that the United States incarcerates far more of its citizens than other leading industrialized nations, and it one of the few countries in the world that retains the death penalty on its books. hen capital offenders are executed, there exists the opportunity to turn this scheduled death into renewed through organ donations. At present, while an individual has the right to say whether their organs should be donated, death-row inmates are considered wards of the state and it is the position of this study that the state should have the corresponding right to harvest their organs as a means of execution in order to save and improve the quality of the lives of others. To determine whether the potential exists for such an approach, this study examines the relevant peer-reviewed…
"Abolish the death penalty." (2011). Amnesty International. [Online]. Available: http://www.
Beard, T. Randolph, David L. Kaserman and Richard P. Saba. (2006). "Inefficiency in cadaveric organ procurement." Southern Economic Journal, 73(1): 13-14.
Ben-David, Orit F. Organ Donation and Transplantation: Body Organs as an Exchangeable