Mixed Economies
Comparing the Dominant Mixed Economy Models
Most of the world's economies today operate according to some form of mixed capitalism. The two extremes of the past centuries' world economies (Adam Smith's free-market economy and the Marxist-Leninist communist economy) have exerted enough pressure on the middle to create to some degree a mixed economy in nearly every nation. There are numerous terms for and ways to describe these mixed economies. One may call them socialist, fascist, corporatist, welfare states, command capitalist, etc. The fact is that no single term really captures the essence of today's main economic models. This paper will compare the dominant models of mixed economies that nations of the world have adopted.
The dominant models of mixed economies may be seen in the American School (or "National System"), the Nordic Model (or "universal" system), the French Dirigisme Model, and the Japanese Post-ar Model. Each of these models has its…...
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Works Cited
"American School." Answers. Web. 12 Feb 2013.
"Dirigisme." Answers. Web. 12 Feb 2013.
"Japanese Post-War Economic Miracle." Answers. Web. 12 Feb 2013.
Because of the free-price system, trading exists in various degrees thus causing a lack of organized trading system. Issues also indicate that market economy creates monolopies that threaten the competitiveness of goods and services. Therefore, the solution to such problem that market economy critics find is to support mixed economy because they need a structured and organized system of trading. But what can a mixed economy provide to the economic condition of a nation? To the proponents of mixed economy, this system can prevent unstable economic conditions because the economic system is controlled. A mixed economy presents both the faces of a free-market and capitalism where people have the right to choose which type of economic system they wish to implement in trading. Additionally, even if free-market also exists in a mixed economy, it is still limited which therefore continues to present a controlled economic condition....
These convergences lead to mixed economies.
Globalization and the U.S. Economy
Outsourcing is a result of the current globalization rate, due to rise of internet users and communication through broadband. In actual sense, outsourcing is inevitable, and no one is going to eliminate it any time soon, including the United States. However, outsourcing will mean loss of jobs in the United States, leading to a position where these jobs need to be replaced. This is because outsourcing results into competitive businesses, leading to profit and export increase and also increases the opportunities for investments in other countries, different from the source country such as the U.S. In the last decade manufacturing jobs have been moving out of the United States, and this can hardly be prevented. In fact, outsourcing of manufacturing jobs has greatly destroyed the middle class Americans, hence undermining the performance of their economy in general. Competition is mounting…...
Economy Status in 12 Months
In each economic system, entrepreneurs and managers combine together natural resources, labor, and technology to create and supply goods and services. Nations' political principles and civilization is replicated by the way in which these different elements categorize themselves. Karl Marx, the 19th century German economist and social theorist invented the term capitalist economy, by which United States is often referred to and this term depicts a system in which a small group of people manage large quantities of money or capital and make the most significant economic verdicts. Natural resources are the first elements of a nation's economic system. The second element is effort, which changes natural resources into goods. As both privately owned businesses and government play major roles, United States is said to have mixed economy. In fact, some of the most continuing discussions of American economic history concentrate on the virtual tasks…...
"Both the U.S. side and the Mexican side replicate the political, economic, social, and cultural systems of their respective nation-states. At the same time, borderlanders have blended the structures, institutions, and life expressions of the two societies to create something novel and entirely theirs -- the ambiente fronterizo, or borderlands milieu. Today the area stands as a prime example of binational interdependence, providing striking evidence of the trend toward closer ties among the world's nations and societies" (Martinez, 1994)
eferences
Coleman, M., 2005, U.S. Statecraft and the U.S. - Mexico Border as Security/Economy Nexus, Political Geography, Volume 24, Issue 2, pp. 185-209
Hackenberg, ., 1997, the U.S.-Mexico Borderland in Century XXI, Culture and Agriculture, Volume 19, Number 3
Longley, ., December 2004, Illegal Immigration Costs California Over Ten Billion Annually, About U.S. Government Info
Martinez, O.J., 1994, Human Interaction in the Texas - Mexico Borderlands, University of Arizona, http://www.humanities-interactive.org/borderstudies/text/essay.html. Ast accessed on March 28,…...
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References
Coleman, M., 2005, U.S. Statecraft and the U.S. - Mexico Border as Security/Economy Nexus, Political Geography, Volume 24, Issue 2, pp. 185-209
Hackenberg, R., 1997, the U.S.-Mexico Borderland in Century XXI, Culture and Agriculture, Volume 19, Number 3
Longley, R., December 2004, Illegal Immigration Costs California Over Ten Billion Annually, About U.S. Government Info
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 national currency…...
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
Important Insights Gained during Principles of Microeconomics
The principles of microeconomics deal with how houses, organizations and governments spend their money—and how their decisions and transactions impact the overall market economy. One of the principal assumptions of microeconomics is that people are rational and make rational decisions by weighing the pros and cons, costs and benefits of their financial decisions. This is straight out of rational choice theory (Frank, 2008), which states that people make decisions in their economic lives by comparing the costs with the perceived benefits. This is why consumers and organizations tend to respond favorably to economic incentives. The incentive to make a purchase or an investment decision appears like a greater benefit than the cost of doing so: they recognize that they are getting something positive in return for their transaction. Incentives help, whether it is a tax credit from the government for consumers who purchase an…...
None of the questions used in the week 1 assignment qualify for the mixed-design ANOVA; for this reason, I have selected an entirely new question from an entirely different subject -- back pain. Chronic back pain has become a serious problem for the health fraternity in America -- it is estimated that approximately 31 million Americans experience chronic back pain at any given time, and that over 80% of adults are poised to experience some form of backache at some point in their lives. Currently, back pain stands as the leading cause of disability in the country, with the economy losing over 450 billion dollars as a direct result of the same every year. In this paper, we focus on the treatment aspect of back pain. Acupuncture and massage are the two leading treatment modalities for back pain -- we are interested…...
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References
Sukal, M. (2013). Research Methods: Applying Statistics in Research. San Diego, CA: Bridgepoint Education Inc.
Nike as a company was initiated by two visionaries from Oregon, Bill Bowerman and a runner at that time for the University of Oregon Phil Knight. They were then working together in athletic with Knight being the runner supervised by Bill. Bill saw the endless possibilities that existed within people in terms of sports potential and it was with this that they set the tone for the company in 1972. This has remained the inspiration that runs the company to date and keeps the employees of the company from one generation to the other motivated to uphold the motto of the company (Nike, 2011). The company has grown from being a U.S. based footwear distributor to a mega world supplier of athletic shoes, equipment and apparel whose dominance is unrivalled in the entire globe.
The goal of the company is to have a legacy of innovative thinking…...
" (Paczkowski, p. 1) This is possible because Merril Lynch will pay a subsidy of an additional 1200 shekels per handset in order to help initiate penetration of telecom service plans. In Saudi Arabia, iPhones start at roughly SAR 3499, a staggering $933.
Place
As the price differentials show, Apple must make considerable adaptations according to that which each market will bear. That being said, Israel has already proven itself a promising site for fast expansion. According to Paczkowski (2009), "though Apple hasn't yet brought the iPhone to Israel, it's estimated that some 80,000 of them are in use in the country today. That's a remarkable metric and one that suggests Apple's super-smart phone should do quite well when it officially arrives at market in Israel this week." (Paczkowski, p. 1)
Reports suggest that Egypt's market will not be as inherently welcoming of the product. According to Inskeep (2012), competitors such as Nokia…...
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Works Cited:
comScore. (2012). omScore Reports December 2011 U.S Mobile Subscriber Market Share. comScore.com.
Farivar, C. (2009). iPhone Coming to United Arab Emirates and Saudi Arabia. MacWorld.
Inskeep, S. (2012). And Now for the Lighter Side of Egypt's Revolution. NWPR.org.
Kee, E. (2011). Saudi Arabia bans iPhone and Samsung Galaxy Tab at security institutions. Ubergizmo.
The business name will be "Bird Wise" and provides a pet-related service. It will be located in Florida with the plan to expand services to new markets in the regional area as well as to develop a national online presence.
The mission statement of the company is: "To help people improve their relationship with their companion birds by providing the people the skills to reduce unwanted behaviors and increase wanted behaviors in their birds."
The primary objectives of the business are as follows. First, develop a professional network of referrals through vets, pet shops, bird breeders, humane societies, and bird clubs. The second objective will be to develop a web presence using direct promotion and social media. A third objective will be to generate an effective price structure for the various services that will be offered to clients. The…...
This proposed match-up can free needy people from their dependence upon self-interested bankers, the Altruists state. But to call this a 'gift economy' seems to deny the fact that even when no money exchanges hands, there is always some sort of an exchange of value. The giver may wish to gain some sort of power over the recipient, may want to get a tax deduction, or at the very least, the giver desires to enhance his or her self-esteem. Even tribal gift exchanges served a political purpose. Moreover, although this type of gift economy may encourage some philanthropists to give without 'strings attached,' it is unlikely many people will give, without some assurance of some sort of return. Even online, the spirit of altruism is hardly universal and has its limits. Few people can afford to be so generous.
The Altruists would counter that the Internet itself began as a…...
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Works Cited
"The Internet Gift Economy." Altruists International. October 29, 2009
DQ #1. An economy's output is also its income because its output is calculated as the measurement of all the goods and services produced by the economy, and also being channeled back into the economy in the form of purchases in other economic sectors, savings, and investments. Expenditures measured in the form of GDP tally the production of goods and services on U.S. soil while GNP measures the production of goods and services produced anywhere by the U.S. residents. Both can generate income for U.S. companies and consumers that can be funneled back into the economy in exchange for other durable and nondurable goods, and services, as well as reinvested into other sectors. However, imported goods are subtracted out of the calculation of a national income, because the funds generated by the foreign production companies will be funneled back to the base, foreign nation. U.S. consumers may buy foreign goods,…...
The Chinese government has characterized its involvement in economic development as "serving rather than supervising the private economy" since 2008 (Xinhua, 2009). ith this shift in focus a number of changes to Chinese management can be expected. The paternalistic approach will remain, as it is part of Chinese culture, but there will be further estern influences, particularly with respect to the desire outcomes of management behavior.
In their efforts to serve business, the Chinese government will inevitably work harder to attract foreign investment and to allow business to set the terms by which they can seek investors. This will shift the desired outcomes of management behavior towards those sought by a wider range of investors, both domestic and foreign. Asia Aluminum provides an example of this, as foreign investor outcry over the bond scandal forced the company to consider other options. Management at that point realized the…...
These semi-private companies are co-owned by the local government and workers. They are not officially in the private category, but they are essentially operated like private companies.
The differences among these four types of companies in China put them into two groups: WFOEs and JVs positioned to the front line of globalizing China, while SOEs and private companies try to stand firm to protect their territory, with some aggressively extending their operations overseas.
According to industry sources there is a total of 196,222 manufacturers in China, which includes all SOEs and non-SOEs with revenue more than 5M RMB, with 1 USD = 8.1 RMB as of October 14, 2005. (Note: All quantitative data in this report is from the National Bureau of Statistics of China (National Bureau of Statistics China, Manufacturing Statistics). The increasing number of multinationals and private companies already surpasses the total number of SOEs in the Chinese manufacturing…...
Sure! Here are some essay topics that cover both capitalism and socialism:
1. Compare and contrast the fundamental principles of capitalism and socialism. 2. Analyze the impact of capitalism on income inequality and social mobility. 3. Critically examine the role of government regulation in a capitalist economy. 4. Evaluate the pros and cons of a socialist healthcare system compared to a capitalist healthcare system. 5. Discuss the relationship between capitalism and environmental sustainability. 6. Explore the concept of social democracy as a blend of capitalism and socialism. 7. Investigate the historical development of capitalism and socialism in different countries. 8. Debate the merits of a mixed economy that....
Mixed economies balance between government intervention and free market principles by utilizing a combination of both approaches to achieve economic stability and growth.
One way in which mixed economies balance government intervention and free market principles is through the use of regulations. Governments in mixed economies may implement regulations to ensure fair competition, protect consumer rights, and promote social welfare. At the same time, they also allow for market forces to determine prices and allocate resources efficiently.
Mixed economies also use fiscal and monetary policies to influence economic activity. Governments may intervene in the economy through taxation, government spending, and interest....
Mixed Economies: Striking a Balance Between Intervention and Market Freedom
Mixed economies represent a hybrid economic model that combines elements of both government intervention and free market principles. This delicate balance aims to leverage the strengths of both systems while mitigating their respective drawbacks. Understanding how mixed economies achieve this equilibrium is crucial for grasping their complexities.
Government Intervention
Government intervention in mixed economies primarily focuses on areas where the free market has proven inadequate or inefficient. This includes:
Public Goods and Services: The provision of essential goods and services, such as education, healthcare, and infrastructure, that are not adequately supplied by private....
Different economic systems can have varying impacts on income inequality.
1. Capitalism: In a capitalist system, income inequality can be more pronounced as wealth tends to be concentrated in the hands of a few individuals or corporations. This can lead to a widening wealth gap between the wealthy and the lower-income individuals in society. However, proponents of capitalism argue that this system also provides opportunities for individuals to improve their income through hard work and entrepreneurship.
2. Socialism: In a socialist system, income inequality is typically reduced as the government plays a more active role in redistributing wealth through progressive taxation....
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