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However, the act only applied to larger towns and the rural districts were still left under the administrative control of the Justices of the Peace until the establishment of elected county councils in 1888. Even though it was quite inadequate for the immediate needs of the common peoples of England, this act made it possible for main urban areas to form their own powerful authority, subject to popular control, and thus able to levy a local rate. From this simple beginning, a concentration of new functions arose and throughout the 20th century powers would continue to be added to municipal corporations. One of the best results of the Municipal Corporations Act was that it created new possibilities, such as the education of children, and supplied the public with trams, light, water and housing.
efore the years of the 19th century in England, those that worked in coal mines which furnished…
Birnie, Arthur. An Economic History of the British Isles. New York: Crofts & Company,
Brown, John. The British Welfare State: A Critical History. UK: Blackwell Publishers, 1980.
Churchill, Winston S. A History of the English-Speaking Peoples: The Great Democracies. New York: Dodd, Mead & Company, 1958.
Graham, Gerald S. A Concise History of the British Empire. New York: Viking Press, 1971.
Yan Fu “On Strength”
Yan Fu breaks from prevailing Chinese philosophical norms and traditions to embrace a categorically European approach to history and foreign affairs. Starting by explaining Darwinian theory and its implications for human society, Yan Fu shows how competition between societies is inevitable. Yan Fu reviews Darwin’s Origin of Species and explicates the other main component of the theory of evolution: natural selection. Humans are no different from the animals that Darwin analyzed for preparation of his thesis. Therefore, Yan Fu leaps quite dangerously into the territory of social Darwinism.
Building on Spencer’s initial work on social Darwinism, First Principles, Yan Fu shows how societies form governments according to their environmental needs just as animals organize their social structures and evolve particular characteristics. Each society will have values, norms, ideals, and institutions that reflect the historical, geographic, and economic context. However, societies are also dependent on their ability…
The IMF called Morocco "a pillar of development in the region" and praised King Mohammed VI and the Moroccan Central Bank for its management of fiscal and monetary policy (IMF, 2008, Reuters). Although Morocco has not been immune to the effects of the global recession, after instating more stringent fiscal policies and pursuing a policy of greater privatization, it experienced an unprecedented nonagricultural GDP growth of 6.6% in 2007 and has better absorbed "the impact of difficult international economic conditions" than its neighbors (IMF, 2008, Reuters). "Among the indicators of Morocco's economic progress are its Free Trade Agreements with key economic partners, including the United States, which open tariff-free Moroccan goods to a market of over 1 billion people worldwide" (IMF, 2008, Reuters). Morocco's greater political stability than Egypt has also made economic liberalization a far easier journey for the nation as a whole.
International Monetary Fund praises…
International Monetary Fund praises Morocco's economic performance and reforms.
(2008, July 31). Reuters. Retrieved May 30, 2009
Murphy, Dan (2007, December 2). Egypt's economic reform meets unprecedented wave of labor resistance. The Christian Science Monitor. Retrieved May 30, 2009
Economics of International Trade China
Exploring the Economics of International Trade: China
"Chinese international trade has experienced rapid expansion together with its dramatic economic growth which has made the country to target the world as its market," and its expansion has only continued to show powerful growth within the international economic marketplace (Sun & Heshmati, 2010, p 1). After China was reopened to trading with the West in 1978, the country has really took off in becoming one of the world's biggest producers and exporters of a plethora of different goods. China has grown tremendously as nations like the United States have become their biggest trading partners. In response, China has helped refuel this growth with the manipulation of their currency and their heavy investment in the U.S. dollar, which ensures them a more competitive position for their exports.
For generations, China had closed itself off to trading and interacting…
American Manufacturing. (2012). China and currency manipulation. Issues. Web. Retrieved September 4, 2012 from http://americanmanufacturing.org/category/issues/china/china-and-currency-manipulation
Barboza, David. (2012). Business and economy in China. New York Times. Web. Retrieved September 4, 2012 from http://topics.nytimes.com/topics/news/international/countriesandterritories/china/business_and_economy/index.html
Congress Quarterly. (1999). The consumer culture. CQ Researcher, 9(44), 1001-1016.
Manzay, Terrance. (2010). China export industry dominates worldwide. Article Snatch. Web. Reprieved September 4, 2012 from http://www.articlesnatch.com/Article/China-Export-Industry-Dominates-Worldwide/3853472#.UEZqYKNIuHY
The economic policy tools that were employed just after the war subsequently underwent some changes. From 1947 to 1950 direct controls on wages and distribution were eliminated followed by removal of trade controls in 1958. However, the government continued to maintain its hold over prices and credit distribution which made it different from many of its neighboring states in the postwar period. The French Ministry of Finance exerted greater control over the economy than the Bank of France. This led to a greater predilection to resort to devaluation when external equilibrium resulted due to the state failure to control incomes. In France, the period between 1945 and 1975 was known as the "thirty glorious years" because of the phenomenal economic performance. During this period, the average growth rate of GDP was around 6.8% which was quite remarkable considering that Britain's average GDP growth rate was 2.4% and Germany's…
Bathelt, Harald; Wiseman, Clare; Zakrzewski, Guido. Unit 1: Post-war development and structure of the German economy.
Buchanan, Tom. Europe's troubled peace, 1945-2000.
DeLong, J. Bradford. Grasping reality with both hands: A Fair, Balanced, Reality-Based,
Many businesses could no longer operate in this fashion and likely closed their doors leading to a rise in unemployment. This is an example of the rule that Hitler had on the Pre-World War II German economy. The people of the nation were completely subject to his policies and because the economy was in such a vulnerable position as a result of the First World War, that Hitler's policies were looked upon as providing assistance to the nation. The research indicates that Hitler's rule over Germany managed to counter the rise in unemployment with institution of the German Labor Service and other workforce and labor programs.
Pre-World War II Unemployment in Germany
etween January 1933 and July 1935 the number of employed Germans rose by a half, from 11.7 million to 16.9 million.
. Under the rule of Hitler, more than 5 million new jobs paying living wages were created.…
Academic Dictionaries and Encyclopedias. "Expulsion of Germans after World War II." Last
updated in 2010. http://en.academic.ru/dic.nsf/enwiki/38667 .
Brezina, Corona. The Treaty of Versailles, 1919: A Primary Source Examination of the Treaty
That Ended World War I. New York: Rosen Publishing Group, Inc., 2006.
Shift from Central Planning to Market Economy
The Turkish economy is in what might be termed semi-precarious health. It could certainly be worse, but also certainly be better. Since its birth as a nation-state into its current shape in 1923 in the wake of World War I, Turkey has operated a mixed economy, in which both state and private enterprise have contributed to economic development. (Indeed, it is arguable that all country's in the world today have a mixed economy; the United States may be a bastion for private enterprise but many workers also benefit from government money, such as the money awarded by the federal government to private companies in the form of defense industry contracts.) Since the end of World War II, the economy has been transformed from a predominantly agricultural one to one in which industry and services are the most productive and rapidly expanding sectors even…
Abramowitz, M. (ed.) (2001). Turkey's transformation and American policy. New York: Century Foundation.
Hershlag, Z.Y. (1998). The contemporary Turkish economy. New York: Routledge Kegan & Paul.
Howe, M. (2001). The Kurdish conflict in Turkey: Obstacles and chances for peace and democracy. London: Palgrave. http://apps.nccd.cdc.gov http://www.imf.org http://www.immigration-usa.com/wfb/turkey_economy.html http://www.rt66.com/~korteng/tudemog.htm
Ibrahim, F. (ed.) (2000). Turkey today: A nation divided over Islam's revival.
Economics in China (Manufacture)
There is a time and stage for all types of manufacturing and what may be seen to succeed in China is not likely to succeed in many other countries like the United States. Chinese economy has developed very fast and that has attracted attention from all over the world in the business community. This has led to a rapid increase in their foreign direct investment and share in international trade. There are continuously new businesses coming into China, trade agreements are being finalized, and a lot of foreigners are rapidly coming into China. The point where the foreign managers and the Chinese managers are meeting is being studied by many consultants. Some reasons for the growth of business in china are also due to their culture, and that is one of the oldest cultures in the world. Their culture has always had a system of client…
Eric Wahlgren; "Street Wise" November 19, 2003 Retrieved at http://www.businessweek.com/technology/content/nov2003/tc20031121_1964_tc121.htm
Einhorn, Bruce. "Online Asia" October, 6, 2003 Retrieved at http://yahoo.businessweek.com/technology/content/oct2003/tc2003106_9749_tc058.htm
Newsmaker Q&A." November 21, 2003 http://www.businessweekeurope.com/bwdaily/dnflash/nov2003/nf20031119_2463_db014.htm
Roberts, Dexter. "Is China's Boom in Danger?"
By means of automation, specialized works that were predominantly done by men in the manufacturing industries situated in the developed nations were diminished. Conversely, non-specialized jobs mainly in the electronic parts manufacturing industries, particularly the microchip, in which unskilled women in a number of developing nations find employment, became bigger. Thus, the electronic parts manufacturers, instead of investing in huge capital-based units, had favored to make use of manual workers based in nations wherein inexpensive, quiet, and for that reason mostly women workers was quickly accessible. (Mitter; owbotham, 1995) Hence, women in Asia could get several jobs from the electronics manufacturing industry. Fresh high school passed out graduates from the tiny villages moved to the cities for jobs available in the semiconductor units. Usually the daughters of those villagers who were high-incomes, these young females, irritated by the absence of clerical as well as semi-skilled employment prospects in their villages,…
Ahmed, Fauzia Erfan. (2004, Summer) "The Rise of the Bangladesh Garment Industry:
Globalization, Women Workers, and Voice," NWSA Journal, vol. 16, no. 2, pp. 34-45.
Ainina, Fall M; Petrick, Joseph a; Scherer, Robert F. (2003) "Loss Control in High Technology
Electronics Manufacturing: A Longitudinal Study of Occupational Safety," Review of Business, vol. 24, no.3, pp: 35-42.
He also said that it was high time that every person in the world stopped being economically defensive and started to become politically courageous. At the same summit, the Minister of Sustainable Development and Planning and Head of the Economic and Social and Ministerial Council of Bolivia said that a responsible community would make up and constitute the very basis of global sustainability and stability, and sustainable development was what had helped Bolivia survive through all the years of economic instability and political unrests that it had been subjected to all the previous years. (esponsibility for each other- as Johannesburg's High-Level Segment Begins)
However, though it is widely accepted that Bolivia is indeed heading in the right direction today, it is still lacking in clear markets, and in a complete access to the various technologies that exist in the world today, and also in a guiding mechanism that would help…
Background Note: Bolivia. (August, 2004) Bureau of Western Hemisphere Affairs. Retrieved at http://www.state.gov/r/pa/ei/bgn/35751.htm . Accessed on 22 February, 2005
Background Notes, Bolivia. (March 1998) U.S. Department of State. Retrieved at http://www.state.gov/www/background_notes/bolivia_0398_bgn.html . Accessed on 22 February, 2005
Bolivia, Geography. Retrieved at http://reference.allrefer.com/world/countries/bolivia/geography.html . Accessed on 22 February, 2005
Nicholls, Peter. (Autumn, 2003) Bolivia, between a rock and a hard place. Capital and Class. Retrieved at http://www.findarticles.com/p/articles/mi_qa3780/is_200310/ai_n9324747/pg_3Accessed on 22 February, 2005
Growth The retailer sector was lately affected by the back-to-school shopping season, which did not start so well, as midprice department stores, discounters and specialty-apparel retailers announced disappointing sales results during August, which reinforced the already much debated concerns that consumers are not comfortable with the current state of the economy and are reluctant to consume, considering the shaky and uneven economic recovery.
However, luxury department-store chains managed to post significant earnings, as they benefited from the help of an important number of upscale shoppers. Still, the effects of higher gas prices and the rising value of grocery bills, combined with lackluster job growth were severely felt by moderate- and lower-income shoppers.
Michael Niemira, chief economist and director of research at the International Council of Shopping Centers feels that "There's weaker-than-expected performance," due to the fact that "there was a slowdown in spending, but some results are exaggerated by…
1. Higher energy prices depress overall economy. Charles Stein.
Knight Ridder Tribune Business News. Washington:
Aug 6, 2004. On the Internet at http://gateway.proquest.com.libproxy.unm.edu/openurl-url_ver=Z39.88-2004&res_dat=xri:pqd&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&genre=article&rft_dat=xri:pqd:did=000000674708321&svc_dat=xri:pqil:fmt=text&req_dat=xri:pqil:pq_clntid=2877
2. Retailers' Sales Come In Weaker Than Expected; Soft Results Reinforce Fears About Consumer Confidence; Discounters Saw Biggest Hit. Kortney Stringer.
Kenyan reform policy Successful?
The need for reform in Kenya has been clearly demonstrated. But the question remains, has this reform been successful? The slogan of "Harambe" fueled the passions of the Kenyan people and drove them to strive as one nation to lift themselves up from poverty and oppression. It has been ten years since the last reform and it is now time to look back and see what has been accomplished.
To measure the success of the reforms we will consider several economic indicators both before the reform and after to see how they have changed. Then these factors will be considered as a whole to develop a better outlook on the entire picture. e will consider education, the performance of the industrial sector, the trade and tourism sector, the finance sector, rate of inflation, employment and wages, the agricultural sector, construction, social services and some comments on…
Adams, Martin. LAND REFORM: NEW SEEDS ON OLD GROUND? Overseas Development Institute. Number 6, October 1995.
African Perspective. Kenya at the Crossroads. Fourth Issue - Winter 2000/2001. http://www.sis.gov.eg/public/africanmag/issue04/html/enafr12.htm
Appleton, Simon, Arne Bigsten and Damiano Kulundu Manda Educational expansion and Economic decline: returns to education in Kenya,1978-1995.
Bureau for Africa U.S. Agency for International Development KEN YA Country Profile U.S.
International Trade Theory and Export Promotion
The two graphs represent the production outputs of two countries. The first graph represents a developed country, which specializes in the production of machines, which is capital intensive.
The second graph represents a developing country which specializes in textiles, which is labor intensive. The factor endowments model of international trade is based on the concept that each country has a certain specialty that they are skilled at producing and that there are not enough resources or skills in every country to produce everything that is needed. Each country specializes what it is good at producing and trades for goods that it cannot product itself.
In perfect trade equilibrium, the production and consumption of both items would be increased. When the value of exports and the value of imports for both countries are equal, then both countries are at maximum consumption of both goods. In…
Proponents of the capitalist developmental state argue, it was the bureaucratic interests that were the key to the successful industrialization of Japan and Korea in the postwar period. In particular, it was the bureaucrat's complete autonomy from self-serving interest groups and politicians that was the main factor that enabled them to define national-level strategies and then to implement them effectively." Those who are not proponents of the system believe it was a combination of other factors. Had it not been for the bureaucratic desire to succeed the motivation for capitalism would not have been put into place.
Following the Meiji era in Japan there were many economic reforms undertaken. Some of those reforms included:
unified system by way of modern currency, banking and investments. The desire and effort to establish a modern institutional framework that would be conducive to capitalist economic values was strong and was led by the bureaucrats…
Japan Modernization and Industrialization
Background to Meiji Modernization http://www.thecorner.org/hists/japan/meiji2.htm
Korea, North THE POST-WAR ECONOMY AND PATTERNS OF INDUSTRIALIZATION
Kenya: A Case Study in Reform
From its rough beginnings, Kenya has instituted a series of economic reforms in an attempt to raise the condition of the Kenyan people. They are an attempt to bring the Kenyan people out of a state of poverty and repression to one of stability and security about their ability to sustain themselves. Each reform has been better than the last, but they are still far from solving these issues in their country. This paper will cite the reasons for this as being a need for the people to regain the feeling of nationalism echoed in the early years of independence.
Prior to1800 Kenya consisted of groups of small tribal governments. Kenya is grouped into more than 70 ethnic groups, Some of the ethnic tribes are large e.g. The Agikuyu who form a majority of the population within their homeland in the central…
Africa Guide. World of Information Sessional Paper No. 2 of 1997 on Industrial Transformation
Amoako, Dr. K.Y. Claiming the 21st Century: Africa's Agenda (Speech). Executive
Secretary of the United Nations Economic Commission for Africa at the National
Summit on Africa, (Washington D.C., 17 February 2000)
Intenational Tade Between Bahain and Saudi Aabia
This is a pape on Tade between Bahain and Saudi Aabia, focusing on how it affects thei intenational tade elations with special attention to OPEC, GCC and the Qata dispute. It uses 22 souces in MLA fomat.
Both Saudi Aabia and Bahain ae membes of the Gulf Coopeation Council along with Qata, UAE, Kuwait and Oman. Unde the GCC Ageement, pefeential taiffs apply among the membe states. Since independence in 1971, Bahain has essentially pusued a libeal tade and investment policy, and has integated its economy closely with those of othe counties in the egion, though the Unified Economic Ageement of the Gulf Coopeation Council (GCC).
Tade and economic gowth in Bahain is stongly affected by vaiations in intenational enegy pices. Real GDP gowth, as a esult, was slowe duing the 1990s compaed with the pevious decade, aveaging aound 3.6% annually since 1994.…
2. U.S. DEPARTMENT OF STATE: BAHRAIN ECONOMIC POLICY AND TRADE PRACTICES. FEBRUARY 1994.
Energy costs increased substantially and the yen's exchange rate was shifted to a floating rate. The eventual recession reduced expectations of future growth and reduced private investment. Economic growth went down from 10% to 3.6% during the period 1974-79 and to 4.4% in the decade of the 80s. ut despite the oil crisis and its consequences, Japan's major export industries stayed competitive through its cost-cutting policy and increasing efficiency. It reduced industrial energy demands and allowed the automobile industry, along with other industries, to improve. y the late 70s, the computer, semiconductor and other technology and information-intensive industries entered a period of rapid growth. During this high-growth era, exports continued to support Japan's robust economic growth in the 70s and in the 80s. However, the problems encountered on account of its growing balance of payments surplus urged for the opening of domestic markets and a stronger focus on domestic demands…
Answers.com. (2007). Shigeru Yoshida. 4 pages. Encyclopedia Britannica: Answers Corporation
Bernier, B. (1980). The Japanese peasantry and economic growth since the land reform of 1946-47. 40 pages. Vol 12 issue 1. Bulletin of Concerned Asian Scholars: Questia Media America, Inc.
Luu, L.T. et al. (1996). Summary report on Japan. Team # 6. Chinman: University of Hawaii..
Retrieved March 14, 2007 at http://www2/hawai.edu/~chiman/file2,htm
S. The societal system practiced in France serves as a model towards which the U.S. aspire.
President Barack Obama's healthcare reform plan is considered by many as being a socialist experiment that will significantly hurt the economy (CBS, 2009). In opposition, the President has stated that he does not intend to implement a healthcare system that depends on the government. Instead, he would prefer a system in which the government competes with private insurance companies for selling coverage.
The Invisible Hand Principle
The invisible hand principle was developed as an opposition to the protectionist system. This principle is actually a metaphor describing the self-regulating characteristic of the market. In other words, such a system can be implemented due to a combination of factors, like self-interest, competition, supply and demand. Adam Smith, who developed this theory, considered that the action of these forces and their effects are able to allocate resources…
1. Eddlem, T.R. (2009). Obama needs to learn "opportunity cost." The New American. Retrieved February 26, 2010 from http://findarticles.com/p/articles/mi_m0JZS/is_15_25/ai_n32369481/?tag=content;col1 .
2. Dorrien, G. (2009). Is the Economic Crisis a Sin? Newsweek. Retrieved February 26, 2010 from http://www.newsweek.com/id/206095.
3. Steele Calls Obama Health Plan "Socialism" (2009). CBS News. Retrieved February 26, 2010 from http://www.cbsnews.com/stories/2009/07/20/politics/main5174417.shtml .
4. Remarks by the President on Financial Rescue and Reform. The White House. Retrieved February 26, 2010 from http://www.whitehouse.gov/the_press_office/Remarks-by-the-President-on-Financial-Rescue-and-Reform-at-Federal-Hall .
The nation will enforce law and order to protect its public property, regulate monetary frameworks and correct market failures. The government will be responsible for protecting private life of its citizens and property (Grant & Vidler, 2000).
Market and Competition Forces: the country's economy should be designed in such a way that it will promote competition. This is because competition means a fair deal in obtaining results. The government should increase sellers and buyers in the market because this would promote competition thus increasing the quality and efficiency. With competition, the country will be able to control and manage different functions of its economy (Grant & Vidler, 2000). Demand and supply are the prime market forces determining the production of a country produces and the suitable ways to do so.
Market equilibrium, price and output, are determined by market forces. Therefore, I would recommend that any least developed nation to…
Bahl, Roy, W. (2008). Land taxes vs. property taxes in developing countries. Cambridge,
MA: Lincoln Institute of Land Policy.
Grant, S. & Vidler, C. (2000). Economics in Context. New York: Heinemann.
Hyman, D.N. (2011). Public finance: A contemporary application of theory to policy (10th ed.).
That is, international financial organizations, such as the World Bank and the International Monetary Fund and which controlled by core states, decide that, in order to grant financial aid to undeveloped countries, these states should comply with some rules that are, in the end, in the detriment of their own economy. For example, Africa pays more to the IMF and World Bank, than it collects in credit from them, and this leads to low living standards, poor education and health systems and undeveloped infrastructure.
Besides financial institutions, transnational corporations have a saying in the economic development of a country. Although one might be tempted to say that a corporation, by creating a branch in an undeveloped country gives that economy a boom, it is actually all about personal gain.
Working in a corporation might be considered the best thing that could happen to a person, on a professional scale. You…
Chomsky, Noam. "DRCNet Interview: Noam Chomsky." Drug War Chronicle Aug.2002. Drug Reform Coordination Network. Washington DC. 2.08.2002. http://stopthedrugwar.org/chronicle-old/223/noamchomsky.shtml .
Korten, David C. "When Corporations Rule the World." USA: Berrett-Koehler Publishers; 2 edition, 2001
Kozol, Jonathan. "The Shame of the Nation. The Restoration of Apartheid Schooling in America." New York: Crown Publishers, 2005
Wallerstein, Immanuel. "The Modern World-System: Capitalist Agriculture and the Origins of the European World-Economy in the Sixteenth Century." New York: Academic Press, 1976
Economic Challenges Canada Faces
In recent years, the challenging economic condition in Canada has emerged as a concern for citizens, policy makers and the government alike. Canada faces challenges in terms of creating a more innovative society, as the country continues to experience a significant productivity gap compared to other advanced industrial economies. The Canadian industry appears to be slower in successfully developing, applying and marketing innovative products, processes and services than a majority of other nations. This lack of innovation is the cause of Canada's low productivity growth and competitiveness, and therefore must be addressed in order to increase employment growth, a higher standard of living and an improved quality of life for all Canadians.
Current research predicts that although Canada's economic performance will gradually strengthen out of the recent mild slowdown into a better pattern of growth in 2004, Canada's economy still faces the longer-term challenge of increasing…
Department of Finance Canada. (2004). The Economy in Brief. Retrieved March 8,
2005, from the Department of Finance Web site: http://www.fin.gc.ca/ECONBR/ecbr04- 12e.html
Economic Survey Canada. (2004). Building Partnerships for Progress. Retrieved March 8, 2005, from the Economic Survey Canada Web site: http://www.oecd.org/document/24/0.02340.en_2649
Environment Canada, Informing Canadians on Pollution. (2002) Highlights of the 2002 National Pollutant Release Inventory, Environment Canada.
Economic crash can be viewed from a number of perspectives ranging from causes and effects to the 2008 Crash's resemblance to the Crash of 1929, which began the Great Depression. This paper will consider the 2008 recession from the standpoint of the financial banking industry, which, according to economic journalists like Matt Taibbi (2010), played a major and significant role in the crumbling of the nation's economy -- just like it did in the Lawless Decade also known as the oaring Twenties.
Big Banking Meets Big Government
What has now become known as the Era of De-egulation actually had its beginnings in the 80s decade known just as much for its rampant excess as the early 20s were known for their unbridled lawlessness. Yet, while the latter enjoyed the snubs-to-the-law bootlegging speakeasies, the former enjoyed the merging of the financial sector with the political -- which began during eagan's tenure…
AP/HuffPost. (2011). Charles Ferguson's Oscar Speech Rips Wall Street: 'Inside Job'
Director Levels Criticism During Acceptance. HuffPost Business. Retrieved from http://www.huffingtonpost.com/2011/02/28/charles-ferguson-oscar-speech-inside-job_n_828963.html
Sann, P. (n.d.). The Lawless Decade: A Pictorial History of the Roaring Twenties.
Retrieved from http://lawlessdecade.net/
According to Burrow, Verard and Kleindl (2007), "a market economy is an economic system in which individual buying decisions in the marketplace together determine what, how, and for whom goods and services will be produced." Hence in any hypothetical pure market economy, the government of the day does not take an active role in deciding what products the citizenry should buy and in what quantities. A pure market economy is however taken to be a theoretical ideal. Burrow, Verard and Kleindl (2007) on the other hand note that "a command economy is an economic system in which a central planning authority, under the control of the country's government, owns most of the factors of production and determines what, how, and for whom goods and services will be produced." In such an economic system, the government of the day largely dictates the mode of utilization of the various factors of…
Baumol, W.J. & Blinder, A.S. (2011). Economics: Principles and Policy. Cengage Learning.
Burrow, J.L., Everard, K.E. & Kleindl, B. (2007). Business Principles and Management. Cengage Learning.
With them saying in their first quarter 2008 earnings report that they had: a liquidity pool of $34 billion, unencumbered assets of $64 billion and $99 billion in regulated assets. At the same time they affirmed the Moody's credit rating of A1, on the basis of the company's capital basis and liquidity. (Kuhlengisa, 2008) This is problematic, because when looking at this statement and considering what would happen a few months later, it was obvious that managers / executives knew something was wrong. Instead of disclosing this fact to investors, they continued to play down the effects on its overall bottom line, until it could no longer be hidden. The way the accounting industry would help to perpetuate the collapse, is by having independent auditors making conservative estimates on those assets that were frozen. Using the Lehman rothers statement, the $64 billion in unencumbered assets was more than likely a…
Brown, B. (2009). The Wider Picture in the U.S.A. The Decline and Fall of Banking. (pp. 401 -- 431). Liecester: Matador.
Francis, J. (2000). Federal Investment Regulations. Shaums Outline of Investments. (pp. 86 -- 94). New York, NY: McGraw Hill.
Kuhlengisa, M (2008). Leham Brother Holdings First Quarter Conference Call. 123 Jump. Retrieved from http://www.123jump.com/earnings-calls/Lehman-Brothers-Holdings-First-Quarter-Earnings-Call/26998/61
Reed, D. (2010). What Happened and How did We get here? Decoding the New Mortgage Market. (pp. 1 -- 10). New York, NY: Abamacom.
The recession of 2008-2009 and the subsequent government responses provides a good test for economic theories. There are no controlled experiments in economics, so we can only work with case studies in order to understand how economies work. A good starting point is to consider the issue through multiple different lenses, so that we can understand how the crisis occurred and what prescriptions might be best suited for response either to address the root problems or to engage in prevention. This paper will consider the works of Marx, Schumpeter and Keynes in analyzing the financial crisis. All three of these men would have been able to understand its causes, but likely would have taken very different approaches to solving the problem.
The second issue at hand is the question of the future of capitalism. We have a pretty good sense at this point of what the response of…
Cox, W. & Alm, R. (2013). Creative destruction. Library of Economics and Liberty. Retrieved December 7, 2013 from http://www.econlib.org/library/Enc/CreativeDestruction.html
Eichengreen, B. (2010). The crisis of financial innovation. University of California at Berkeley. Retrieved December 7, 2013 from http://emlab.berkeley.edu/~eichengr/crisis_finan_innov.pdf
Isfeld, G. (2012). Canada's banks shake off global sector crisis. Financial Post. Retrieved December 7, 2013 from http://business.financialpost.com/2012/10/10/canadas-banks-shake-off-global-sector-crisis/
Liu, H. (2008). Too big to fail moral hazard. Asia Times. Retrieved December 7, 2013 from http://www.atimes.com/atimes/Global_Economy/JI23Dj12.html
The downward spiral of deflation, the collapse of countless banks and other financial institutions, and the unprecedented levels of unemployment all demanded that something be done.
The programs that constituted President Franklin Delano Roosevelt's New Deal were not entirely unknown in the pre-Depression world. Various European countries already possessed social welfare schemes to some extent, but in the United States this was largely new thinking. The changes wrought by the New Deal reflected as much the uniqueness of conditions during the Great Depression as they did the undercurrent of new attitudes and ideas that had gradually been taking hold among America's intellectuals.
FDR's planners acted in the context of changing values, an evolving set of institutions, shifting political and economic circumstances, and the ebb and flow of planning opportunities to create a distinctly national, American form of planning.... They were part of a wide-ranging national debate over how to create…
DUMMY CITATION #1 G.M., Blaauw, G.A., and Brooks, Jr., F.P. "Architecture of the IBM System/360," IBM Journal of Research and Development, Vol. 44, No. 1/2, IBM, January/March 2000 [Reprint of IBM Journal of Research and Development, Vol. 8, No. 2, 1964.]
DUMMY CITATION #2 Anderson, Philip, and Michael L. Tushman. "Technological Discontinuities and Dominant Designs: A Cyclical Model of Technological Change." Administrative Science Quarterly 35.4 (1990): 604fl.
Gibbons, Jim. "Gibbons Tells Congressional Committee to Abolish Arbitrary FAA Retirement Age: Nevadan Calls Current Federal Rule, 'Blatant Age Discrimination.'" Press Release, (United States Congress, Washington D.C., 12 March, 2003).
Wilkening, Robin. "The Age 60 Rule: Age Discrimination in Civil Aviation." (No Date). URL: http://aeromedical.org/Articles/age60.html.
Reform of the International Monetary System
The proposal for international reform that is most important is the International Lender of Last Resort. An international lender of last resort might have the ability to preclude contagion, in which an efficacious speculative attack on one emerging market currency gives rise to attacks on other emerging market currencies, propagating financial and economic disorder as it goes. Taking into consideration that a lender of last resort for emerging market nations is necessitated at times, and bearing in mind it cannot be provided locally, there is a significant justification for an international institution to occupy this role. This can be linked to Mexico's financial crisis of 1994, where the IMF took the role of lender of last resort and offered emergency lending to nations facing financial instability. On the other hand, an international lender of last resort generates risks of its own, particularly the risk…
Claessens, Stijn, and Mr. M. Ayhankose. Financial crises explanations, types, and implications. No. 13-28. International Monetary Fund, 2013.
d'Arista, Jane. "Dollars, debt, and dependence: the case for international monetary reform." Journal of Post Keynesian Economics 26.4 (2004): 557-572.
Kregel, Jan. "Some Simple Observations on the Reform of the International Monetary System." The Levy Economics Institute of Bard College, Policy Note, 2009.
Mehta, Nitin. "Pros and cons of 'Tobin tax' divides EU." Financial Times, 2013. Retrieved from: https://www.ft.com/content/ce94512e-81a3-11e2-ae78-00144feabdc0
Economic View of the Death Penalty
In 1972, The U.S. Supreme Court ruled in the case of Furman v. Georgia that the death penalty, as applied in three capital cases in the state of Georgia was "cruel and unusual punishment and in violation of the Eighth and Fourteenth Amendments. (Hastings and Johnson, 2001, paraphrased) A mere four years later the state of Georgia was once against before the Supreme Court in the case of Gregg v. Georgia, a case in which the decision handed down by the court found that the death penalty was in fact constitutional. (Hastings and Johnson, 2001, paraphrased) The objective of this study is to examine the practice of the death penalty from an economic perspective. Towards this end, this study will examine the literature in this area of study. According to a recent report there are several states considering abolition of the death penalty including…
Dieter, Richard C. (nd) What Politicians Don't Say About the High Costs of the Death Penalty. Retrieved from: http://www.fnsa.org/v1n1/dieter1.html
Donohue, John J. And Wolfers, Justin (2004) The Death Penalty: No Evidence for Deterrence. Economist's Voice. April 2004. Retrieved from: http://bpp.wharton.upenn.edu/jwolfers/Press/DeathPenalty (BEPress).pdf
Hastings, L.J. And Johnson, Allan D. (2001) The Illusory Death Penalty: Why America's Death Penalty Process Fails to Support the Economic Theories of Criminal Sanctions and Deterrence. 2001 University of California, Hastings College of Law Hastings Law Journal. Retrieved from: https://litigation-essentials.lexisnexis.com/webcd/app?action=DocumentDisplay&crawlid=1&doctype=cite&docid=52+Hastings+L.J.+1101&srctype=smi&srcid=3B15&key=10b4f49062a2ae4631639988123ab2c5
Saving Lives and Money (2009) The Death Penalty. The Economist. 12 May 2009. Retrieved from: http://www.economist.com/node/13279051
Economics - Country Analysis
Country Overview and Current Events (News)
Ethiopia, traditionally known as Abyssinia, is a landlocked Sub-Saharan country located at the Horn of Africa in East Africa, bordering Somalia, Kenya, Eritrea, Djibouti, Sudan, and the newly-created South Sudan. It covers approximately 1,126,829km2 of land; about the size of the state of Texas, and was, until the split of Sudan, the second-largest country in Africa. Being landlocked, Ethiopia largely relies on the port of Djibouti, to which it is connected by both rail and road. Economic elements such as this, together with the country's history, population, geography and economic performance have been explored in the subsequent sections of this text.
Population: the U.S. Census Bureau, in June 2013, estimated Ethiopia's population to be 93,877,025; a figure that makes the country the second-most populous in Africa, after Nigeria (orld Bank, Index Mundi). Ethiopia's population has been on a steady increase…
AFDB. "Inflation Dynamics in Selected East African Countries: Ethiopia, Kenya, Tanzania and Uganda." AFDB Brief, 2012. Web. 18 March 2014 http://www.afdb.org/fileadmin/uploads/afdb/Documents/Publications/07022012Inflatin%20East%20Africa%20-%20ENG%20-%20Internal.pdf
This article analyses the trend in Ethiopia's inflation rates vis-a-vis those of other countries in the Sub-Saharan region and was a valuable source of regional statistics, which formed the main basis for comparison.
Broussar, Nzinga, and Tekleselassie Tsegay. "Youth Unemployment: Ethiopia; Country Study." International Growth Center, 2012. Web. 18 March 2014 http://www.afdb.org/fileadmin/uploads/afdb/Documents/Publications/07022012Inflation%20East%20Africa%20-%20ENG%20-%20Internal.pdf
This article analyzes the trend in Ethiopia's employment patterns. It reinforced my arguments that unemployment is more prevalent in urban Ethiopia, and that the country's informal sector contributes more to GDP than the formal sector.
For one reason, the super rich are some of the biggest political contributors, and so, it pays Congress to ensure their continued support and fiscal maintenance. He also uses economic theories and trends to illustrate his point and make the text more credible and believable.
Throughout the book, the author shows not only that he deeply understands his material, but he has the ability to explain it so most readers understand it as well. With all the economic information this book contains, it could be dry and uninteresting, but instead, the author presents facts and figures in a way that shows he understands the material, but also has the ability to explain it to others, which is extremely important in this type of book. It is also essential if the author hopes to have Americans read his book, and act on it, which is clearly one of the author's purposes…
Johnston, David Cay. Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich - and Cheat Everybody Else. New York: Portfolio, 2003.
For the period of the late 1960s and early 1970s, West Germany strived to assist the dollar. The United States and many other nations pushed West Germany to reassess so as to make up for the dollar excess. (Germany in the World Economy)
At last, after escalating waves of conjectures, the retton Woods system had a collapse in August 1971. All through the post-retton Woods period, the deutsche mark stayed under pressure. In order to relieve strain within Europe, West Germany and other European states assented to peg their currencies to a special system of comparatively narrow exchange rate bands officially named the 'European narrow-margins agreement' but unofficially identified as the 'snake'. The United States and West Germany performed main roles in attempting to organize a new global monetary system. but, in spite of its willingness to make small exchange-rate alterations for the benefit of new currency arrangements, West Germany…
Little German Reform Would Go a Long Way" (Dec 1, 2003) Business Week. Issue: 3860; pg. 22. Retrieved from home.uchicago.edu/~gbecker / Businessweek/BW/2003/12_01_2003.pdf Accessed on 24 November, 2004
Economic Survey - Germany 2004: Main issues and policy challenges"
Retrieved at http://www.oecd.org/document/17/0,2340,en_2649_201185_33633425_1_1_1_1,00.html . Accessed on 24 November, 2004
Economy of Germany" Wikipedia, the free encyclopedia. Retrieved at http://en.wikipedia.org/wiki/Economy_of_GermanyAccessed on 25 November, 2004
It is also argued that the insurance mandate is not constitutional since the government does not have the right to tell the United States citizens what products to purchase, even when these products are beneficial for them, and even less when the socio-economic impact of purchasing the respective items is questionable (Savage, 2009).
Arguments against changing the direction of the policy
Once again delaying any measures to restructure and resolve the two impending problems in the health care system (raising costs and insufficient coverage) does not constitute a constructive approach to resolving the impending problems
Aside the socio-economic problems it raises, the mandatory health insurance would ensure that all the U.S. citizens benefit at least from the basic health care services and this does not put tremendous strains on the federal budgets.
5. ationale of the suggestion to change the direction
Despite the benefits the mandatory health insurance would generate…
Barnett, R., 2009, Is health insurance mandate constitutional? last accessed on June 18, 2010
Berger, J., 2009, a health insurance mandate that works like auto insurance? Think again, http://www.foxnews.com/politics/2009/09/14/health-insurance-mandate-works-like-auto-insurance-think / last accessed on June 18, 2010
Bihari, M., 2010, Mandated benefits -- understanding mandated health insurance benefits, http://healthinsurance.about.com/od/reform/a/mandated_benefits_overview.htm last accessed on June 18, 2010
Cowen, T., 2009, How an insurance mandate could leave many worse off, http://www.nytimes.com/2009/10/25/health/policy/25view.html last accessed on June 18, 2010
We don't look at their psychological well-being. it's almost as though, psychologically, they're a blank. And we know very little about the differences among black women. Some cope better than others. We don't know who they are, why they cope better, what resources they have access to. If we can understand that, then we can understand the needs of those who cope less well. What I am finding so far is that almost all the mothers in my study, when asked whether they would prefer employment to public assistance, say they would rather have a job. However, having a job is very difficult for this group of mothers because it is difficult for them to find and keep jobs that support them and provide adequate benefits. And there's another consideration: When we say we're going to put these women to work, what is it going to mean in terms of…
The Impact of the Welfare State on the American Economy (1995) Joint Economic Committee Study. December 1994. Executive Summary. Online available at http://www.house.gov/jec/welstate/vg-1/vg-1.htm
Paternal State, the Liberal State, and the Welfare State (nd) Online available at http://www.friesian.com/freestat.htm
Overview of the Nixon-Ford Administration at the Department of Labor 1969-1977 (1977) U.S. Department of Labor, Office of the Assistant Secretary for Administration and Managementy. 20 Oct 2007. Online available at http://www.dol.gov/oasam/programs/history/webid-nixonford.htm
Social Work Experts Predict: Disaster With a Ray of Hope (1996) Columbia University Record -- September 20, 1996 -- Vol. 22, No. 3. Online available at http://www.columbia.edu/cu/record/archives/vol22/vol22_iss4/Welfare_Reform.html
As in the case of China, government repression and economic prosperity and liberalization have quelled some of the current ruling party's most vocal critics, although it remains to be seen how Putin's successor will fare.
Although less widely publicized for its repressive political policies and institutions, the government Mexico for 68 years functioned as a single party system that stifled all dissent and was marked by heavy state control of industry (Lehrer 1997). Unfortunately, although Mexico has liberalized its political system and allowed a greater voice of dissenting parties, its economic prosperity has not trickled down to the very poorest members of the population, nor has it substantially enriched and improved the lifestyle of many Mexicans. Tensions still exist within the nation between the ruling party and the populace, and many of its institutions remain unrepresentative and inefficient. In all three nations, more so than creating actual democratic and representative…
Lehrer, Jim. "A Changing Mexico." 15 Jul 1997. Online News Hour Transcript.
29 Feb 2008. http://www.pbs.org/newshour/bb/latin_america/july97/mexico_7-15.html
At the time of this report on October 27, 2010, the Brotherhood spoke out against boycotting the upcoming election, but projected a rather optimistic attitude towards resolving the conflict that confronted them. Still, in light of this optimistic attitude, they did not deny that it would oppose the anti-government in other ways (Arrott). Senior Brotherhood leader, Essam el-Eryan commented, "hat is urgent and a priority is to change the rules of the political game. e are ready to accommodate with any real political system…but we are living in a police state."
On December 1, 2010, it was reported that the Brotherhood planned to boycott the 2010 elections run offs (CNN Newswire). The boycott is being held as a protest to the irregularities in the first round of voting held on November 24, 2010. (CNN Newswire).
The Brotherhood did not win a single seat in Parliament in the 2010 election after…
Abd al-Monein, Said. "Modern Islamic Reform Movements: The Muslim Brotherhood in Contemporary Egypt." Middle East Journal 36.3 (1982): n. pag. Web. 7 Dec. 2010.
American-Israeli Cooperative Enterprise. "Hosni Muhammad' Mubarak." Jewish Virtual
Library, 2000. Web. 7 Dec. 2010.
Arrott, Elizabeth. "Egyptian Brotherhood Under Pressure Prior to 2010 Elections." VOA
Economic Development in Honduras: A Banana ar Legacy
An Analysis of Economic Development in Honduras from 1820 to Present
In many Latin American countries such as Honduras, the historical emphasis that has been placed on agriculture as a money industry for export purposes has resulted in the term, "banana republic" (Nash & Jeffrey 1994). Following their independence, most Latin American countries continued to depend on the export of raw materials for their revenue, rather than investing in an economic infrastructure that would provide value-added services, which only further contributed to this pattern of dependence on foreign states. This is largely what has taken place in the Republic of Honduras as well, and the country continues to suffer from sporadic and inequitable foreign investment, much of which has illegally diverted into private hands rather than infrastructure development. This paper provides an overview of the Republic of Honduras, an assessment of the…
Bates, Stephen. (January 8, 1999). Good friends slip on a banana skin. New Statesman,
Befus, David R., Debbie L. Mescon, Timothy S. Mescon and George S. Vozikis. (1988).
International Investment of Expatriate Entrepreneurs: The Case of Honduras. Journal of Small Business Management, 26(3):40.
The number of educational institutions remained the same and child labor has also stagnated. Entrepreneurs were still allowed to employ children, which they did moreover when they paid them lower wages.
Just like with the Meiji Era, the British Industrial evolution opened new horizons and generated numerous development possibilities for the country and its population. The most important contributions were felt in the technological sector and materialized in a wide series of advancements. "It was not only gadgets, however, but innovations of various kinds -- in agriculture, transport, manufacture, trade, and finance -- that surged up with a suddenness for which it is difficult to find a parallel at any other time or place. The quickened pace of development is attested by the catalogue of new patents, the lengthening list of Acts of enclosure, the expanding figures of output and exports, and the course of prices, which, after remaining roughly…
Ashton, T.S., the Industrial Revolution, 1760-1830, Oxford University Press, 1997
Buer, M.C., Health, Wealth and Population in the Early Days of the Industrial Revolution, Routledge, 1926
Hunter, J., Institutional Change in Meiji Japan: Image and Reality, Routledge, 2005
Kinzley, W.D., Emperor of Japan: Meiji and His World, 1852-1912, the Historian, Volume 66, 2004
However, when it comes to the long-term effects, the policies are exacerbating social problems, by forcing the poor and middle class from their homes. This is because many of these communities are targeted by wealthy developers. Over the course of time, this causes large projects to be constructed that are not economically viable. At which point, many governments are facing the twin forces of having to maintain such facilities, while seeing an increase in social assistance from those who lost their homes. In order to prevent this situation from becoming worse, alternative policies need to be coordinated with members of the community. There also needs to be a long-term economic viability studies conducted in the initial stages of planning, where various members of the community and businesses should play a major role. This will help to determine if such projects are sustainable in the community. If these two elements can…
"Poor People Skills Threaten Urban Renewal." BBC News, http://news.bbc.co.uk/2/hi/programmes/file_on_4/4327431.stm (accessed June 21, 2010)
Funck, Bernard. Labor, Employment and Social Policies. Washington DC: World Bank, 2001.
Kok, Herman. "Restructuring the Retail Property Market in Central Europe." Multi-Development, AW Gouda, 2007 http://www.springerlink.com/content/w4179688574042h8/fulltext.html (accessed June 21, 2010)
Mucha, Thomas. "Greek Debt Crisis." Global Post, http://www.globalpost.com/dispatch/commerce/100505/greek-debt-crisis-unrest (accessed June 21, 2010)
Furthermore, existing vulnerabilities of the airline industry are not taken into consideration until a disaster occurs. Lastly, the September 11th Security Fee introduced by the Department of Homeland Security was considered by many "as a beneficial trade off for their personal safety eventually," having as a direct consequence a rise of the airline industry.
Gregory Mankiw (2004) Principles of Economics, 3e, Mankiw
InnovativeThinker. (2007) Economic Profile of the Airline Industry. Retrieved Feb 1, 2008, from Associated Content, Inc. Web site: http://www.associatedcontent.com/article/435732/economic_profile_of_the_airline_industry.htm
Wei, S. (2006). Analysis of aggregate Passenger Routes in Air Travel: An Atlanta-ased Study. Southeastern Geographer, Volume 46, Issue 1, page 139. Retrieved Feb 1, 2008, from web site: http://proquest.umi.com.ezproxy.apollolibrary.com
Recent Policy Initiatives to Raise Low Pay. (2004). Retrieved Feb 1, 2008, from ACORN.ORG: https://www.acorn.org/index.php?id=203
FRSF Economic Letter. (January, 2002). Airline Competition. Retrieved Feb 1, 2008, from Olin usiness School- Washington University: http://www.olin.wustl.edu/faculty/gowrisankaran/pdf_papers/airline_competition.pdf
Virgin Territory (2006, September 30).…
Gregory Mankiw (2004) Principles of Economics, 3e, Mankiw
InnovativeThinker. (2007) Economic Profile of the Airline Industry. Retrieved Feb 1, 2008, from Associated Content, Inc. Web site: http://www.associatedcontent.com/article/435732/economic_profile_of_the_airline_industry.htm
Wei, S. (2006). Analysis of aggregate Passenger Routes in Air Travel: An Atlanta-Based Study. Southeastern Geographer, Volume 46, Issue 1, page 139. Retrieved Feb 1, 2008, from web site: http://proquest.umi.com.ezproxy.apollolibrary.com
Recent Policy Initiatives to Raise Low Pay. (2004). Retrieved Feb 1, 2008, from ACORN.ORG: https://www.acorn.org/index.php?id=203
Economic Forces and Health Care
Evaluation of Economic Forces and Impact on Health Care
This paper examines the impact of economic forces on the health care industry and health care management. According to Economy atch, the health care industry plays an important part in the country's economy. The health care industry determines the gross domestic product (GDP), exports status, employment, capital investment etc. The industry is likely to be dominated by continued expansion of demands in the market, increasing prices, and increasing awareness among customers, likely triggering a change in the industry for the better (Health Care Industry, 2011).
Industry analysts point to the healthcare industry as the one bright spot in an otherwise sluggish economy. According to the healthcare Financial Management Association (HFMA), the health care industry is creating new jobs, companies and markets. Job growth as the result of health care demands increased by 65% from 1990 to…
ACOEM Special Committee on Health, Productivity, and Disability Management. (2008). Healthy workforce/healthy economy: The role of health, productivity, and disability management in addressing the nation's health care crisis. American College of Occupational and Environmental Medicine. Retrieved July 10, 2011 from http://www.acoem.org/uploadedFiles/Healthy_Workplaces_Now/Healthy%20Workforce%20-%20Healthy%20Economy.pdf
Health Care Industry. (2011). Economy Watch. Retrieved July 10, 2011 from http://www.economywatch.com/world-industries/health-care/
Healthcare industry proves one bright spot in sluggish economy, research shows. (2011). Healthcare Financial Management Association website. Retrieved July 10, 2011 from http://www.hfma.org/templates/blogpost.aspx?id=27268
Kavilanz, P. (2011). Health care jobs a bright spot for hiring. CNNMoney. Retrieved July 10, 2011 from http://money.cnn.com/2011/07/08/news/economy/healthcare_jobs/
Socialist states use a command and control management structure as a substitute for the profit motive. This structure is less efficient, so production levels cannot match those of capitalist states. Ultimately, the lack of productivity and the large number of distortions lead to economic collapse (Tesche, 1993).
Since the collapse of the Soviet Union, the pace and nature of economic reforms has differed greatly in the former Soviet states. These range from regions with a virtual continuation of communist dictatorship (Belarus, Transnistria) to full-scale embrace of the free market (Estonia in particular). Russia's economy has only opened somewhat, and only to small and medium sized enterprises (SMEs). For the most part, the major firms in the economy are controlled by powerful businessmen with close ties to government. Freedom of capital flows has improved slightly, but the Russian economy overall remains under significant government control. The economy has grown substantially since…
No author. (2009). Smithsonian agreement. Investopedia. Retrieved December 13, 2009 from http://www.investopedia.com/terms/s/smithsonian-agreement.asp
Eichengreen, B. (2004). Capital flows and crises. MIT Press. Retrieved December 13, 2009 from http://mitpress.mit.edu/catalog/item/default.asp?tid=10369&ttype=2
Pollard, P. (2001). The creation of the euro and the role of the dollar in international markets. Federal Reserve Bank of St. Louis. Retrieved December 13, 2009 from http://research.stlouisfed.org/publications/review/01/09/0109pp.pdf
Sheppard, M. (2004). The politics of the oversight of OTC derivatives markets: Is there any evidence of systemic risk? Paper presented at the annual meeting of the International Studies Association, Le Centre Sheraton Hotel, Montreal, March 17, 2004. Retrieved December 13, 2009 from http://www.allacademic.com/meta/p_mla_apa_research_citation/0/7/3/4/2/p73424_index.html
(Chandrasekhar and Ghosh, 2005)
Chandrasekhar and Ghosh state that the macroeconomic policy in China resulted in macroeconomic mechanisms that "differed substantially from those in predominantly market-driven economies. These differences relate to the availability of monetary or fiscal levers of the kind available in market economies, to the nature of the institutionally determined transmission mechanisms and to the outcomes of what appear to be similar policies. Only inasmuch as "economic reform" results in the generation of features characteristic of market driven economies in centrally planned systems, would the transition result in a gradual process of convergence in the nature of the policies, mechanisms and outcomes being addressed." (2005) It is related that despite the complete control of the Chinese government over the creation of money and fiscal policy "..., in the sense of using deficit financed expenditures to prime the economy, does not appear to have been a major thrust of…
Fischer, Stanley (2003) Globalization and Its Challenges. Ely Lecture. Online available at: http://www.iie.com/fischer/pdf/Fischer011903.pdf
Chandrasekhar, C.P. And Ghosh, Jayati (2005) Macroeconomic Policy, Inequality and Poverty Reduction in India and China. Online available at: http://www.ideaswebsite.org/featart/dec2005/IND_CHN.pdf
Srinivasan, T.N. (2002) China and India: Economic Performance, Competition and Cooperation. Paper presented at seminar on WTO Accession, Policy Reform and Poverty sponsored by the World Trade Organization in Beijing, China June 2002. Online available at: http://www.econ.yale.edu/~srinivas/C&I%20Economic%20Performance%20Update.pdf
Khanna, Tarun (2003) It's India Above China in New World Order. Working Knowledge. 28 Jul 2003. Online available at: http://hbswk.hbs.edu/item/3604.html
Communism to Capitalism: Vietnam's Economic Transformation
Assess the market opportunities in Vietnam for both consumer products companies and industrial-products companies. hat is the nature of the opportunity?
ith the establishment of normal trading relations (NTR) in the mid-1990s leading to decreased tariffs and quotas on United States' imports, many companies viewed Vietnam as a land of opportunity but the United States has lagged behind other countries with marketing to this country. The potential is there for profitability, but it may take at least twenty years before Vietnam's economy has matured enough to be able to be on level with Taiwan. The current population under 25 years of age is approximately 60%, but the per capita income for most of the population is very low at around $700 per year.
As the Vietnamese people adjust to living outside of Communist rule, they will adapt to the ways of a market economy.…
Greenhouse, Steven. "New Calls To Lift Embargo On Cuba." New York Times 20 Feb. 1994: 4. MasterFILE Premier. Web. 8 May 2012. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&AuthType=ip , uid&db=f5h&AN=30375796&site=ehost-live
Van Khai, Phan. "Putting Behind The Past And Looking Toward The Future." Foreign Affairs 84.5 (2005): 1. MasterFILE Premier. Web. 8 May 2012. Retrieved from
Most economists feel that if China's currency were allowed to trade freely, it would be a whole lot more. No one can know for sure how much more, but leading economists put it in a range of 10 to 40% higher value than it is now (Davidson 2006),
By keeping the Yuan artificially low in value, China is effectively giving the U.S. consumer a discount on all Chinese exports. By doing this they are discounting their own exports. This is good for many U.S. consumers because it allows them to buy cheaper clothes and electronics along with many other items. But on the other had it is bad for U.S. manufacturers who can't compete with low Chinese prices in the end. Some U.S. manufacturers have adapted by buying many component parts at a lower cost from China. The ability of a manufacturer to adapt depends on the company and the…
Amadeo, Kimberly. 2009. "China Economy." Available at:
Borjas, George J. And Ramey, Valerie a. 2000. "Market Responses to Interindustry Wage
Differentials." Available at:
China & India: Rapid Economic Growth -- Additional pages
Additional Introduction / Conclusion Copy
How did China and India emerge so rapidly as enormous economic powers? This paper reviews the circumstances of the economic advancement that both countries have made, and establishes that these nations became economic powerhouses due to the sheer size of their economies -- along with the strategies they employed.
The Indian economy has been among the "fastest growing economies" in the world since the late 1980s, according to Kunal Sen, writing in the peer-reviewed journal Contemporary South Asia. He insists that most experts (in "the international financial press") are incorrect when they assert that the Indian economy began to accelerate following the "radical economic reforms of 1991" (Sen, 2009, p. 364).
In fact, Sen writes, the gross domestic product (GDP) per capita began to rise "…in the late 1970s, and has kept on steadily increasing over…
Mallick, Hrushikesh, and Mahalik, Mantu Kumar, 2008, 'Constructing the Economy: The Role of Construction Sector in India's Growth', Journal of Real Estate Finance and Economics, vol. 40, 368-384.
Sen, Kunal. 2009, 'What a long, strange trip it's been: reflections on the causes of India's growth miracle', Contemporary South Asia, vol. 17, 363-377.
Tyers, Rod, and Golley, Jane, 2010, 'China's Growth to 2030: The Roles of Demographic Change and Financial Reform', Review of Development Economics, vol. 14, 592-610.
Zhang, Wei, and Liu, Xiaohui, 2009, 'Introduction: Success and challenges: an overview of China's economic growth and reform since 1978', Journal of Chinese Economic and Business Studies, vol. 7, 127-138.
Principal-Agent Model in Economics and Political Science
The international political perspectives of free trade
A Global Analysis
International Trade Impact on Tunisia
The Export of agricultural products
International trade and development of Tunisia
Balance in the Trade egime
Imports and exports of Tunisia
Coping With External and Internal Pressures
The Common External Tariff (CET)
Anti-Dumping Duties (ADDs) and Countervailing Duties (CVDs)
ules of origin
The New Commercial Policy Instrument
Sector Based Aspects
GATT/WTO's Main Principles
Multilateral negotiation and free trade
The Trading Policies of European Union
Critical Political Economy
The Gross Domestic Product of Tunisia
The eal Data Analysis of Import Export Companies in Tunisia
The Smith Co Company
The Softkim and Lovers Limited
The Impact of Free Trade on Tunisia Trading 43
Africa, the Caribbean, and the Pacific
Alternative Mediterranean Conference
Bhagwati, J. (2002). Free Trade Today. Princeton, NJ: Princeton University Press. Retrieved August 15, 2011, from Questia database: http://www.questia.com/PM.qst?a=o&d=99509776
Bhote, K.R. (2002). The Ultimate Six Sigma: Beyond Quality Excellence to Total Business Excellence. New York: AMACOM. Retrieved August 15, 2011, from Questia database: http://www.questia.com/PM.qst?a=o&d=111931454
Campbell, B. (1993). 3 A Canadian Labor Perspective on a North American Free Trade Agreement. In The North American Free Trade Agreement Labor, Industry, and Government Perspectives, Bognanno, M.F. & Ready, K.J. (Eds.) (pp. 61-68). Westport, CT: Praeger. Retrieved August 15, 2011, from Questia database: http://www.questia.com/PM.qst?a=o&d=24509387
Conti, D.B. (1998). Reconciling Free Trade, Fair Trade, and Interdependence: The Rhetoric of Presidential Economic Leadership. Westport, CT: Praeger. Retrieved August 15, 2011, from Questia database: http://www.questia.com/PM.qst?a=o&d=15432294
2014) about China's inflation rate notes that the official consumer price index in the People's epublic of China is 2%, which is below the official government target of 3.5%. Furthermore, this CPI is at its lowest level in 13 months. The article then discusses some of the causes of this inflation rate, and the implications that it has both for China and other stakeholder economies.
Falling producer prices are leading to the deceleration of the inflation rate in China, and this is generally viewed as being favorable by Chinese leaders. There has been a need in China to push ahead with economic reforms, but this pushed had been constrained by the risk of rapid growth. The country also experienced its largest trade deficit in two years, after exports dropped 18% and imports increased 10.1%. The article noted that some of the data is skewed -- in particular export data --…
Butt, R. (2014).. China inflation slows to 13-month low. Reuters. Retrieved March 31, 2014 from http://www.bloomberg.com/news/2014-03-09/china-inflation-slows-to-13-month-low.html
Holland, T. (2014). Fears over a tail risk hard landing in China are growing. South China Morning Post. Retrieved March 31, 2014 from http://www.scmp.com/business/article/1431315/fears-over-tail-risk-hard-landing-china-are-growing
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…
They feel they have survived and overcome harsh business environment and want to operate in risky markets like razil. Some of them benefited from privatization or part-privatization. The current government dislikes the notion of privatization, which tends to improve businesses. ut it likes national champions to succeed abroad. A government minister wrote the World Economic Forum in 1996 that it was not in the interest of the government for razilian companies to expand abroad. He said that capital was limited and they wanted to create local jobs. razil's laws also make the sending of profits from foreign subsidiaries back to razil impossible. They also refuse to recognize losses incurred abroad in company accounts. Some of the olivian assets of foreign investor Petrobras were nationalized by razil's president, Evo Morales. Multinationals are likely to encounter similar obstacles, but commodity producers, consumers or traders can be sure that their built-in comparative advantage…
Ardichvili, a. et al. (2010). Ethical business practices in BRICs. Society for Business
Ethics: Center for Ethical Business Cultures. Retrieved on December 13, 2010 from http://www.cebglobal.org/uploadedfiles/Ethical_Business_Practices_in_BRICs.pdf
Banham, R. (2010). The party gets started in Brazil. Treasury & Risk: the Free Library.
Retrieved on December 13, 2010 from http://www.thefreelibrary.com/the+party+gets+started+in+Brazil%3A+multinational+corporations+are...-a02212023634
China as a Developing Country
China's Economic Growth
China as a developing country
The world economy has grown to be very competitive of late; there have emerged new economic trends, new economic alliances as well as new economic powers in the world over. Among the newly emerging economic powers is China which has been observed to be one of the fastest and stable rising economies in the world that no other economies can ignore them. The big question is how the Chinese have been able to set this trend and how they are maintaining it throughout.
Before 1978, China had been experiencing an annual growth of 6% annually; at times it had severe setbacks in the economy and this was due to the control that the government had on almost all assets of China and the significant infrastructure and means of production and trade. However, this came to change in…
Aimin Chen, (2004). Assessing China's economic performance since 1978: Material attainments and beyond. The Journal of Socio-Economics 34. Retrieved May, 30 2011 from http://www.aiecon.org/advanced/suggestedreadings/PDF/sug110.pdf
Bloomberg Bissweek, (2011). Foreign Investment in China Climbs 15% on Consumer Demand.
Retrieved May, 30 2011 from http://www.businessweek.com/news/2011-05-16/foreign-investment-in-china-climbs-15-on-consumer-demand.html
Centennial Group Holdings, (2002). The Development of Private Enterprise
region has over another in the production of a good. The idea is rooted in the question for maximum economic efficiency from a fixed set of assets. What this means is that even if one region can produce everything better than another region, it may not be wise for it to do so, because there is opportunity cost in producing a little bit of everything. Another region, even if less efficient, can produce some of the goods and trade, thereby opening up more total productive capacity.
The United States has long been a dominant player in the global cotton market, and has either been the number one or number two producer in recent years. Within the United States, however, there are differences in cotton production. Texas is said to have a comparative advantage in cotton production over Alabama, for example. Texas is a relative newcomer to cotton production. While Alabama's…
5% unemployment figure, 7.6% inflation ratio, and $4.5 trillion in debt, Guatemala is forced to rely on external factors to survive.
National exports are coffee, sugar, bananas, fruits and vegetables, cardamom, meat, apparel, petroleum, electricity and the 9/11 events in the United States have severely impacted tourist trade.
Venezuela is a federal republic with over 24 million citizens, 67% of which live in poverty and 14% are unemployed.
The GDP is made up primarily of services with petroleum, bauxite and aluminum, steel, chemicals, and agricultural products composing the primary exports. Tourism is impacted negatively by the events of terrorism and the typical 587,000 visitors each year has dwindled considerably.
ECLAC's annual calendar reflects multiple meetings, lectures, educational workshops, conferences, seminars, and training sessions. Nowhere is there found a work initiative, a concerted on-site initiative or focused fund raiser, or any effort of measurable practicality.
According to the…
Altimir, Oscar & Sourrouille, Juan. Measuring Levels of Living in Latin America -- an Overview of Main Problems. The World Bank -- Working Paper no. 3. World Bank. Washington, D.C. 1980. Benson Collection. HC 59.7 a 47, 1980 LAC. (6)
Altimir, Oscar. The Extent of Poverty in Latin America. World Bank Staff Working Papers - Number 522. The World Bank. Washington, D.C. March 1982. (4-6)
Cardoso, Fernando Henrique & Faletto, Enzo. Depend ncia e Desenvolvimento na America Latina. Zahar Editores. Sao Paulo, 1970-73. Benson Collection HC 125 C3413 LAC. (1-3)
Cardoso, Fernando Henrique. Dependency Revisited. Institute of Latin American Studies - the University of Texas at Austin. Austin, 1973. Benson Collection HC 125 C34162 LAC. (1)
Globalization in the economic sense - economic, social and technological process that advocates a constant interdependence at a global level, supporting trade liberalization.
International Monetary Fund (IMF) - an international financial organization that monitors the global financial flows and that offers financial assistance to Third World countries.
African Festival of Arts and Culture (FESTAC) - cultural festival that promotes and sustains the revival of the lack cultural values and civilization.
1945 - the end of the Second World War and the beginning of the contemporary period. It is also equivalent with the start of the decolonization period, with Indonesia one of the first countries to make this step.
Poverty - lack of the material capacity to finance the basic needs of an individual or a society.
A unfreedom" ref. Sen - according to Sen, these would include, besides lack of political freedom or freedom of the press, forms of unfreedom…
1. Andrew Apter. The Pan-African Nation: Oil and the Spectacle of Culture in Nigeria.
University of Chicago Press (2005)
Only the Introduction and Chapter 1)
2. Frederick Cooper and Randall Packard, eds. International Development and the Social Sciences: Essays on the History and Politics of Knowledge. UC Press (1997)
Poverty rose after the Islamic evolution, and so did unemployment, leaving Iran largely uncompetitive in the global marketplace. Their largest export is the sale of oil and gas, and Iran holds what is estimated to be 10% of the world's oil reserves, so their economy is growing again, and they are successfully paying off old debt that was restructured in the 1980s (Editors).
While Iran was sinking into a depression, Israel, on the other hand, was gaining ground in many areas of their economy. While they still have to import oil, and that continued during the 1975-1985 time period, their economy has modernized and gained much more ground and diversity than Iran's, at least today. However, from 1975 to 1985, the economy was a very different story. While Iran was undergoing a boom because of oil prices, Israel enjoyed no such luxury. In fact, their resources were depleted after the…
Coutsoukis, Photius. "Israel's Economy." Photius.com. 2004. 3 July 2008. http://www.photius.com/countries/israel/economy/israel_economy_economic_growth_and_~13.html
Editors. "Iran's Economy." Iran Trade Association. 2008. 3 July 2008. http://www.iraniantrade.org/doinbiz/econ.asp
Kirshner, Sheldon. "Israel's Ties With Iran Have Been Mercurial." CanadianJewishNews.com. 21 February 2008. 3 July 2008. http://www.cjnews.com/index.php?option=com_content&task=view&id=14065&Itemid=86
Melman, Yossi. "How Israel Lost to the Iranians." Iran Press Service. 2006. 3 July 2008. http://www.iran-press-service.com/ips/articles-2006/december2006/iran_israel_oil_071206.shtml
2007 Economic Crisis on American Car market
Effect of the 2008 global economic crisis on automotive industries
Crisis in the United States
Crisis in Canada
Crisis in ussia
Crisis in European markets
Crisis in Asian markets
Effects by other related crisis events
In this paper, we will review the effects of 2008 global automotive crisis. Our main focus will be on the American car manufacturers and the negative impact they suffered due to the crisis. We will also have a look at how this crisis had affected car manufacturers in other major markets around the world notably Europe, Canada and the prominent Asian markets such as China and India. Finally, we will look at some of the other factors which were important to this event namely the energy crisis since the cost of fuel is directly related to the car industry.
The automobile industry is a very important part…
Lee, C. (2003). Financial Liberalization and Economic Crisis in Asia. New York: Routledge.
Pempel, T.J. (1999). The Politics of Asian Economic Crisis. New York: Cornell University Press.
Arestis, P. (2001). What Global Economic Crisis? New York: Palgrave.
Liou, K.T. (2002). Managing Economic Development in Asia. Westport, CT: Praeger.
China's Urban Housing Development -- a Shift from Welfare Housing to Home Ownership
The challenge of housing in China has been on the national agenda for more that four decades now. A lot of efforts have been directed by the government to help solve the challenge and it has substantially achieved a significant mileage. This paper will delve into the policies informing the urban housing reforms, the evolution that the housing reforms has undergone over the years, the challenges it faced, the current situation of China in terms of housing and also discuss the trend that are prevalent in China and what the government is currently doing to ensure the dream of housing for every China citizen is achieved.
Overview of housing reform agenda
The landscape of China as a whole has been undergoing several changes and shifts in the political, social and the economic aspect of it. This prompted…
Hui X., (2009). The Chinese Hoiusing reform and the Following New Urban Question. Retrieved April 2,2015 from http://newurbanquestion.ifou.org/proceedings/3%20The%20Urbanized%20Society/full%20papers/B008_Xiaoxi_The%20Chinese%20Housing%20Reform%20and%20the%20following%20New%20Urban%20Questions-fullpaper_revised.pdf
Liu Z. & Mei C., (2013). Experiment-based Policy Making or Conscious Policy Design? The Case of Urban Housing Reform in China. Retrieved April 2,2015 from http://www.icpublicpolicy.org/IMG/pdf/panel_11_s1_mei_liu.pdf
Yang Z. & Chen J., (2014). Housing Affordability and Housing Policy in Urban China. SpringerBriefs in Economics. Retrieved April 2,2015 from http://www.google.co.ke/url?sa=t&rct=j&q=&esrc=s&source=web&cd=4&cad=rja&uact=8&ved=0CDYQFjAD&url=http%3A%2F%2Fwww.springer.com%2Fcda%2Fcontent%2Fdocument%2Fcda_downloaddocument%2F9783642540431-c2.pdf%3FSGWID%3D0-0-45-1440212-p176464947&ei=R80fVZDVG4XVaoCXgdgE&usg=AFQjCNEhb1RhJuJyvxM0gC1oOaTU9ocbJA&sig2=vA52GOb75JR6iaesZq0cRQ&bvm=bv.89947451,d.bGg
Youqin H., (2013). Lack of Affordable Housing Threatens China's Urban Dream. Retrieved April 2,2015 from https://www.chinadialogue.net/article/show/single/en/6365-Lack-of-affordable-housing-threatens-China-s-urban-dream
Growth of Tourism
Capitalism, as an economic system, is doing much of what democracy, as a political system could not. China has long been known as a communist country, but this truly applies to both political and economic policy, although the Marxist idea was originally economic. However, during the reign of Mao and the communists, the country sank deeper into poverty, and instead of being a world leader as it had been for centuries, it became a third world country. For the past three decades, the government in China has been slowly implementing economic reforms and these have been paying immense dividends. One of the most lucrative decisions made was that to allow tourism to begin again within the country. China has become a good example of what tourism can do for a failing economy, and how it can stabilize one that is emerging and volatile. The example China provided…
Bunten, A.C. (2010). More like ourselves: Indigenous capitalism through tourism. American Indian Quarterly, 34(3), 285-311.
Diaz-Guerra, B.B. (2008). New networks for the old paradise. Theoretical and Empirical Researches in Urban Management, 9, 43-50.
Henken, T. (2000). Islands of capitalism in a sea of socialism: Cuban tourism and workers in the second economy. Retrieved from http://lasa.international.pitt.edu/Lasa2000/Henken.PDF
Ketter, W.B. (2008, Sept 17). Vietnam today: Capitalism, tourism and technology draw country out of past. Cumberland Times-News. Retrieved from http://times- news.com/archive/x1540433642
Who were the Progressives and what were they trying to reform? How and why did the Progressive era end?
Several different Progressives include: Upton Sinclair, Teddy oosevelt, David Thelen, ichard McCormick and Samuel Hayes just to name a few. Their basic goals were to rectify many the social ills that were occurring from the rapid industrialization of the nation. This was creating a tremendous shift in the population, with more people leaving the country and moving to the cities. As a result, there were a number of different problems that emerged in the wake of these transformations. Most notably: unsafe working conditions, the use of child labor, wages and the number of working hours. The combination of these objectives was to give the people a voice in issues of government and society. This would limit the influence of the special interests during this process. (Sage) (Gilmore F-42 -- F-68)…
Divine, Robert. The American Story. New York: Pearson, 2007. Print.
Gilmore, Glenda. Who were the Progressives? Boston: Bedford Publishing, 2002. Print.
Harris, Richard. A History of the U.S. Political System. Santa Barbara: ABC-CLIO, 2009. Print.
Murphy, Robert. The Great Depression and the New Deal. Washington: Regenry Publishing, 2009. Print.
Aside these impacts however, more salient effects are observable, such as a necessity to change internal practices of business. A relevant example in this sense is given by Wal-Mart, in its quality of America's largest retailer, which decided, unlike within the U.S., to allow Chinese employees to unionize (Dessler, 2006). The official approach of the Chinese leaders was that of implementing reforms which further capitalize on the low cost labor force advantage in order to continually attract investors.
5. The Market of Exchange ates
The final step of this analysis is constituted by the look at China's currency policies, in an attempt to reveal if the policies implemented have played any part in the country's competitiveness within the global market. China's currency, the yuan, was pegged to the United States Dollar in 1997, but the link only lasted until 2005. Since then, the mechanism of resetting the value of the…
Brasher, K., 2005, China's Opaque Currency Policy, the New York Times, http://www.nytimes.com/2005/07/22/business/worldbusiness/22assess.html last accessed on October 21, 2009
Bruton, G.D., Ahlstrom, D., Chan, E.S., 2000, Foreign Firms in China: Facing Human Resources Challenges in a Transnational Economy, SAM Advanced Management Journal, Vol. 65
Buckley, P.J., Clegg, J., Wang, C., 2002, the Impact of Inward FDI on the Performance of Chinese Manufacturing Firms, Journal of International Business Studies, Vol. 33
Cavanaugh, J., Mander, J., 2004, Alternatives to Economic Globalization: A Better World Is Possible, 2nd Edition, Berrett-Koehler Publishers, ISBN 1576753034
Economic Depression in 1929
The Great Depression of the 1930s began with the stock market crash in October 1929. When this occurred, Herbert Hoover was president, and he did not do enough, in many people's opinion, to end the depression. In fact, many of the "shanty" towns where homeless, out of work people lived were called "Hoovervilles." Republican Hoover took a stand back and wait approach, he felt that American business would rebound, and that it was not the business of government to get involved in creating jobs. Hoover understood he needed to make changes, but many of the changes he attempted failed, due to a Democratic Congress and a strained federal budget. The country continued to blame Hoover as the depression worsened, and threw more and more people out of work. He did initiate work programs and economic legislation, but it was not enough to put the country back…