Industrial Revolution Changed the orld Economy?
The Industrial Revolution that started in Great Britain in the latter part of eighteenth century is considered by some historians to be the most significant transformation in the economic environment of human civilization after the Agricultural Revolution. hile there is no disagreement on the view that the 'revolution' had a great effect on the world economy and transformed the lives of a large number of people, its effect was by no means uniform. hile it rapidly took roots in certain parts of the world, e.g., in Great Britain to start with, followed by certain countries of estern Europe, and the United States, large parts of the world -- in particular Africa -- remained untouched by it. In this paper I shall discuss the causes of the industrial revolution; identify the countries that were most affected by it and why; explain the effect of the…… [Read More]
Oil Price History
Similar to other goods’ prices, crude oil prices undergo major fluctuations during surfeit or dearth of crude oil. This particular product’s price cycle can span over many years, reacting to both demand variations and non- OPEC (Organization of the Petroleum Exporting Countries) and OPEC supply. Through most of the course of the last century, American petroleum rates were governed largely by price or manufacturing controls. The period following the Second World War saw wellhead oil rates averaging 28.52 dollars for every barrel (when adjusted to $2010 for inflation). Without any price control in place, American oil rates would have ended up tracking the global average of approximately 30.54 dollars. In this very age, the median adjusted global and domestic crude oil rate stood at 20.53 dollars in 2010 rates. After adjustment for inflation, oil rates only surpassed 20.53 dollars a barrel half the time between 1947 and 2010 (Williams,…… [Read More]
Friedman considers insourcing to be flattener number eight, because it allows small companies to compete like major supply-chain companies. Insourcing refers to hiring another company to handle a company's supply chain. UPS is the major supplier for insourcing services in the United States. Friedman believes that insourcing flattens in three ways: by letting little companies compete in the global market; by dissolving barriers between companies; and by standardizing business practices across companies.
Finally, Friedman looks at a group of flatteners that he refers to as the steroids. These are small flatteners that have the effect of amplifying the other flatteners. Mobile steroids are those technologies allowing people to work in non-traditional environments and include cellular phones, laptops, and wireless internet access. Personal steroids are those things that give power to the individual, and include personal computers, search engines, and peer-to-peer file sharing. While these flatteners are not powerful enough to…… [Read More]
The state of the global economy has been an issue at the forefront of discussion and debate for the last several years. In his 2011 State of the Union Address, President Barack Obama urged bipartisan cooperation for the continued economic revival of the nation, which drives the economic recovery of the world. The President promised increased spending on education, technology, transportation and research, all of which should strengthen the economy by making the U.S. A stronger competitor in the global marketplace. He also promised to slash spending and reduce the deficit, although the specifics of these cuts were not detailed in his speech (Benac, Kuhnhenn, Werner & Superville, 2011). Various economic indicators support the claim of the President, and economists that the economy has improved since its devastating crash in 2008. Yet, full recovery may still be years away.
Tanneeru (2009) noted that was debate about when and…… [Read More]
NASA cannot afford to create new technology, and that is a sign of our lack of support of new science and engineering, something that could be critically short in years to come.
In conclusion, there are clearly many advantages to the flat world economy that has developed with the advent of the 21st century, and Friedman does a good job of spelling out those advantages quite well. There are disadvantages, as well, and Freidman recognizes them and gives them priority in his book. America really began this free trade idea that helped shoot technology around the world and make it possible for people to work anywhere, at anytime. America will continue to innovate and create new ideas, technologies, and innovations that will make our world a better, safer, and healthier place, and as they do, they will continue to generate the best jobs and ideas right here in this country.…… [Read More]
World War Analysis
WWI analysis examining the significance and impact of WWI on U.S. history
In the early 20th Century, a general fear existed that a huge war would break out due to the circumstances existing at that time and therefore every small incident was considered deadly. However the triggering factor was the assassination of Austrian Archduke Ferdinand in June 1914 resulting in World War I (WWI) or the Great War. WWI took place from 1914 to 1918 and major countries took part in it; war resulting in drastic consequences such as collapse of economies and death of millions of people. The two main groups fighting against each other were Triple Alliance and Triple Entente (also known as the Western Powers). The U.S. did not participate in the war in the beginning and tried its best to remain neutral. However, it was forced to join the Triple Entente when German…… [Read More]
The assassination of Archduke Franz Ferdinand and his wife represented a culmination of several concurrent forces, all of which led to the outbreak of World War. The concurrent forces that led to World War One can be loosely grouped under the following categories: nationalism, imperialism, and militarism. Within each of these categories are ample sub-categories that can testify to the extent of forces that shaped the pre-war conditions throughout not just Europe but the entire world. World War One was a total war for many reasons: it involved serious civilian casualties on a horrific scale for all parties. The Great War also brought to light the impact of globalization on the global economy and political enterprise. Nationalism, imperialism, and militarism all played a part in shaping participation in World War One; the effects of which continue to reverberate.
As Marshall (2001) points out, "Germany, Austria-Hungary, and Italy were all…… [Read More]
Gradually, though, the war effort eroded the practical and theoretical underpinnings of racism in the United States. The war stimulated the domestic economy, particularly in the industrial and manufacturing sectors. Jobs were opening up rapidly, and because so many white men were fighting the war, many black men were available to work. "For black workers orld ar II opened up opportunities that had never before existed," (O'Neil 1). The same was true for women, as the war left gaping holes in the labor market that needed to be filled in untraditional ways. At the same time as the war exposed American prejudice, "orld ar II gave many minority Americans -- and women of all races -- an economic and psychological boost." (Harris 1). The Congress of Racial Equality (CORE) was founded, and overall, the war "jump-started the civil rights movement" in the United States (Harris 1; "Identify the impact of…… [Read More]
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…… [Read More]
By attacking from the North, Hitler effectively bypassed France's only real defense against invasion. Within two weeks, Paris was under Nazi control, and still seething from the harsh terms of the 1919 Treaty of Versailles that ended World War I, Hitler demanded that the surrender terms be signed in the very same spot as the armistice that ended that war, and in the very same railroad car, which he had brought out from its museum display for that purpose3. Belgium had surrendered to Germany without firing a shot, effectively dooming France to Nazi occupation, and nearly sealing the fate of more than a quarter million British troops sent to support Britain's ally, France. Only a last-
3. Hayes & Faissler p.444 minute scramble saved the British from capture, at the port city of Dunkirk, where the British used thousands of ships, boats, and dinghies to rescue them all and ferry…… [Read More]
"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)
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…… [Read More]
As they are interested in increasing economic growth at all costs, while ignoring the short- and long-term impacts that their actions could have on the population. This is evidence, of the validity of the criticisms leveled against: the World ank, it policies and its role. Where, they would play a part in helping to support, various activities that are contradictory to their intended purpose. In this aspect the various criticisms are accurate, as they highlight a hypocrisy that exists between: World ank policy and its long-term effects upon a country.
About Us, 2009, World ank. Available from: [5 October 2010].
China Overtakes Japan as World's Second Largest Economy, 2010, loomberg. Available from: [5 October 2010].
Fighting Poverty, 2010, World ank. Available from: [5 October 2010].
Global Monitoring Report 2009, 2009, World ank. Available from: [5 October 2010].
Summit on Millennium Development Goals, 2010, UN. Available from: [5 October 2010].…… [Read More]
Wilson, a student of public administration, favored more governmental regulation and action during a time when large monopolies still existed. He saw the role of public administration as "government in action; it is the executive, the operative, the most visible side of government, and is of course as old as government itself" (Wilson 235). The pendelum swung, though, and the government was blamed for many of the ills that caused the Great Depression. Franklin oosevelt, despite being called draconian, knew that he had to launch programs that would have a quick effect upon the struggling economy; resulting the New Deal -- a complex, interlocking set of programs designed to produce jobs, economic recovery, and fiscal reform of banking and Wall Street -- exactly what was needed, it seems to turn the Titanic in a new direction (Badger). Then, of course, came the war, which stimulated the economy like nothing else,…… [Read More]
hile the orld Bank is intended to assist in the development of the world's countries, the IMF's purpose is to keep a balance in the world's economy concerning financial operations between countries.
The effectiveness of the two has often been doubted with several other institutions from countries receiving assistance being able to take advantage of the funds provided by either the orld Bank or the IMF. Another reason for why some condemn the two institutions is the belief that the U.S. had actually created the orld Bank and the IMF in order to gain benefits from the deal.
Both the orld Bank and the IMF would certainly be more effective if their leaders would not give conditioned help and would see that all the people in the world would benefit the systems equally.
Driscoll, David. The IMF and the orld Bank: How Do They Differ?. International Monetary Fund.…… [Read More]
Discuss international trade issues and how they impact starting a business in Denmark and how it pursues doing business with other countries
Denmark has been following bilateral trade policy based on free trade. This has helped it penetrate major markets while keeping the balance between import and exports. Denmark has been successful in the policy and has a lot of products exported to the U.S. And these include pharmaceutical products, nuclear reactors, boilers, machinery and mechanical appliances; electrical machinery and equipment, and Denmark also imports from the U.S. The World Bank economic indicators for Denmark for the year 2010 show that the current purchasing power per capita -- PPP is at $40,290. (Panjiva, 2012)
Denmark has expanded its trade relations recently with Canada. They both have identical business strategies. Both are based on the agri-food export sectors. The knowledge industries and the agricultural sector and modern concepts like…… [Read More]
Many of the positive facets of globalization -- such as laborers taking classes during the weekend and actually expanding their knowledge by gaining an opportunity to see the world -- that she discusses are not experienced by the majority of the workers who are regularly exploited by multi-national companies. These individuals come from a mental and physical poverty, and are trapped into a technological one as well in which they are only allowed to work, profit little while doing so, and have few opportunities to do anything else. Chang was fortunate enough to see some successes in this system of globalization and oppression, but there are many developing countries that lack China's resources where the workers are simply exploited.
Overall, it is quite clear that there are negative repercussions of globalization for working class people in both developed and developing countries. In the former, individuals regularly lose (and have lost)…… [Read More]
Yet Mr. Friedman does not go to this depth of analysis and relies instead of lengthy, conversational passages in the book that could be trimmed and made more potent, relevant and valuable. The concept Mr. Friedman discusses of the Untouchables is altogether too elitist as well, and this chapter of the book is an illusion; there is no job safe in a globalized world. Only those willing to compete at exceptionally high levels and deliver exceptionally high levels of service, value and insight are going to survive. Globalization's safe harbors are exceptional knowledge, talent and intensity of focus. It is not merely due to the fact that someone is from a given nation. This is certainly the case in Saudi Arabia, where the growth of financial services firms from the United Stakes, the United Kingdom and other westernized nations are more dependent than ever on the Saudi economy as the…… [Read More]
National debt and veterans benefits for example drove a permanent increase in taxes, although these were not as high as during the war. The country's international economic position was also permanently affected. Its pre-war status as a debtor country was permanently changed to a net creditor, in the order of $6.4billion. Also, the power as financial world leader shifted from London and the Bank of England to New York, with an enhancement of the Federal Reserve's role (World War I History). In general, it appears as if the war effort had a favorable impact on the U.. economy. The devastating human and resource losses were offset by favorable economic factors. In this way, World War I changed the economic position of the United tates both permanently and favorably.
Duffy, Michael. "The Causes of World War I." FirstWorldWar.com feature articles. March 27, 2004. http://www.firstworldwar.com/origins/causes.htm
U.. Declaration of War with Germany,…… [Read More]
From the beginning of the war, there had been some variation in the Canadian attitude toward the conflict. Canada never questioned the legitimacy of the war and did not question the need for Canadian participation. There were differences of opinion, though, concerning how extensive the Canadian contribution should be. These variations affected the response to calls for enlistment and divided the country as the towns were more willing than the countryside, the prairies more willing than the Atlantic seaboard, and "it was observed that the proportion of enlistments achieved by any social group appeared to vary almost inversely to the length of its connection with Canada. On the one hand, the ritish-born -- the new arrivals with a large proportion of unattached males of military age -- gave the highest percentage of their numbers to the armed services, and, on the other hand, the French Canadians unquestionably gave the…… [Read More]
The text identifies one practical reason that this is the case, indicating that "One of the particularly threatening aspects of this compression of time is that people can now cross continents in periods of time shorter than the incubation periods of most diseases. This means that, in some cases, travelers can depart from their point of origin, arrive at their destination, and begin infecting people without even knowing that they are sick." (3) This means that an epidemic can be spread from multiple "ground zero" locations before it is even clear that the condition in question has come to reflect so significant a threat of proliferation. To the practical interests of preventing the disease's further spread, this denotes a real and substantial challenge to public health and safety administrators in the developed world. Quite to this point, the text reveals that the United States has experienced a greater level of…… [Read More]
Mediterranean agriculture therefore turned out as extraordinarily market-oriented.
Slavery turned out to be a further key component of the Mediterranean world economy. Aristotle was among the Philosophers who came up with the justifications for requisite of slavery to a proper society, for exclusive of slaves it would have been challenging for aristocrats to learn what was required to maintain culture or have the time to nurture political virtue. Slaves were obtained as a consequence of wars, bizarrely common in the Mediterranean world. Athenians relied on slaves for household jobs as well as workers in their enormous silver mines, which accelerated the development of Athens's empire as well as money-making operations, even though working environment were awful. Slavery also assisted elaboration on why Greece was never particularly engrossed in technological modernism appropriate to either agriculture or manufacturing. The Greeks established significant advances in building ship as well as routing, which proved…… [Read More]
S., have the potential to cause billions of dollars of damage to the U.S. economy" (Threat pp).
Airlines likely to become vocal over security costs - claim.(Brief Article)
Airline Industry Information. December 14, 2004. Retrieved August 14, 2005 from HighBeam Research Library eb site.
Bartlett, Michael. "Only Terrorism Can Derail Continued Growth."
Credit Union Journal. October 03, 2004. Retrieved August 14, 2005 from HighBeam Research Library eb site.
Crutsinger, Martin. "ECONOMISTS RANK TERRORISM GREATEST THREAT
TO ECONOMY; MEMBERS OF THE NATIONAL ASSOCIATION FOR Business ECONOMICS RANK IMMEDIATE THREATS." isconsin State Journal. August 18, 2004. Retrieved August 14, 2005 from HighBeam Research Library eb site.
Definition of Terrorism. Retrieved August 14, 2005 at http://en.wikipedia.org/wiki/Definition_of_terrorism
High oil prices risky for U.S. economy: top Bush adviser.
Agence France Presse English. August 09, 2005. Retrieved August 14, 2005 from HighBeam Research Library eb site.
Raum, Tom. "Approval of Bush's Handling of Economy…… [Read More]
International business: Sweden
The world economic powers have controlled the world economies for the longest time. Sweden is a remarkably small nation, yet it has developed to become among the best and wealth endowed nations in the world. It is a historically established nation that has been existence as early as the 7th century. From these early centuries, Sweden has been known for the level of involvement and development in trade.
Geographic, demographic and natural resources information of Sweden
The geography of Sweden makes it a nation of envy by many others. Sweden has a small area of total coverage of about 449,964 sq km. The area that is dry land is about 410, 934 sq km, and the rest is water. This in comparison to the United States is just slightly larger than the state of California by about land total 2,233 km. Sweden has a coastline…… [Read More]
China's Economy During and After the Economic Crisis
All of these factors created major growth for China for the three decades following the beginnings of its economic reforms, and then the financial crisis hit. China began the twenty-first century with a growth rate of 8.4% in 2000, peaking in 2007 with a 13% growth rate (IMF 2010). In 2008, this rate fell to 9.6% -- a significant drop, but still a significant growth rate as well (IMF 2010). The estimated growth rate in 2009 showed a slower drop to 8.7%, and forecasted growth in 2010 showed the rate climbing back up to 10%, with an average rate for the decade still at 9.9% despite the hiccup caused by the global downturn (IMF 2010).
A large reason hat China was so insulated form the economic shock that was so devastating in other parts of the world was because of the swift…… [Read More]
The new rebuilt and equipped factories were net superior to those of America or other victorious states.
Demographic factor more recent internal factor that tends to influence Japan's economy is of demographic nature. However still increasing, the population of Japan is increasing at a lower rate than that of a decade ago. Not only the reduced birth rate contributes to the demographic decrease, but also the more and more obvious market liberalization and individuals' migration towards better paid jobs in other countries.
This means that the country is left with less young workers and more retired people with no other income that their pension. In the times to come, the larger number of pensioners than that of the working population will turn out to be a bourdon upon the shoulders of Japan.
Also, another demographic factor of great importance is the recent migration from the country side to the city.…… [Read More]
Effect of the recession on upon financial market, the real economy and over everyday lives
ecession is defined as the economic slowdown or decline characterized by slowing down of trade, a magnitude decline in the GDP, and a decrease in employment usually lasting between 6 months to a year. This was the situation in the U.S.A. The hardest times being from 2008 through 2009 and the early months of 2010. America is still recovering from the effects of the recession that the country experienced from 2007 to 2009.
The slow down in economy triggered a massive job loss and unemployment rates that shot through the roof, the prices went up and a great deal of uncertainty rippled through the country. This situation has now seen a reverse trend albeit at a slower rate than was expected by many. The unemployment rate in November 2011 fell by 0.4% to 8.6%…… [Read More]
Global Economy vs. Traditional Economy
An economy can be described as closed or open. A closed economy is one where all the earnings and income flows are locally generated. This does not involve the issue of importation or expectation. On the contrary, an open economy is one that encompasses trade with other countries and the local traders. In the recent past, international companies have invaded the local markets and are bringing serious economic concerns to many nations. States are interested in stabilizing their economies and safeguarding them from the invasion of the international companies. This has been the center of discussion for most government leaders and has contributed to the political process of nations.
Effect of multinationals
Multinationals have proved to be more effective and efficient as well as providing better quality products than most local companies. For instance, McDonald's is currently one of the most sought after company by…… [Read More]
This development approach, by the European Union, is similar to the Bretton Woods institutions' 'Washington consensus', which was developed in the latter half of the 1980s, following "several severe balance of payments crises of developing countries" (Nienhaus, 2002, p. 55). The European Union does not favor indiscriminate opening of markets, but rather it looks for more liberal trade arrangements with developing countries and the European Union solely. This policy has been repeatedly criticized by the International Monetary Fund, the World Trade Organization, and World Bank.
The basic philosophy behind this position is that market forces are better able to foster economic development, compared to state intervention. If a developing country has prices which reflect the relative scarcity of goods and services, as well as indicate comparative advantages, these countries will be able to attract foreign investment. This investment will result in a transfer of both capital and technology. As Nienhaus…… [Read More]
John Perkins (2007), likewise, examines how the modern American Empire has affected our economy and our society in his book the Secret History of the American Empire.
Perkins reveals nothing new when he contends that the United States makes up "less than 5% of the world's population…[yet] consumes more than 25% of the world's resources" (p. 5). What he does do with this information is use it as a platform from which to analyze America's position in the global arena. How is America able to consume so much? According to Perkins, "this is accomplished to a large degree through the exploitation of other countries, primarily in the developing world" (p. 5).
As Howard Zinn points out, European powers, beginning in 1897, were pushing their way into China, a potential nation ripe for exploitation. The only problem was that America was not in on the action. What Zinn shows is how…… [Read More]
This is the risk countries take by entering the world economy.
China is an emerging economic power in the world. This has come about due to the enormous market there -- almost two billion people -- and their gradual movement into the global economy. China, Malaysia, and Singapore are all entering the last stage of economic development and much of their success has been a result of foreign direct investment. "Foreign direct investment has played an important role in many -- but not all -- of the most successful development stories in countries such as Singapore and Malaysia, and even China," (Stiglitz 67). Advocates of the world economy suggest that the third world nations in sub-Saharan Africa and Central America follow these examples.
However, the relative "success" of the second world nations has come about through cooperation with tyrannical governments and the exploitation of the working class. By making a…… [Read More]
However, this is hardly enough to address further issues across the world economy, including poverty.
Despite the fact that trade has become significantly facilitated by the regulating authorities, it is also true that most member countries are developed countries, while developing countries receive very little in terms of policies to facilitate their international relationships within the trading regime. This has been the paradigm since the inception of the global trade regime. Powerful member countries as it were tended to control the regime.
Currently, the United States is at the most powerful relational position within the trade regime. As such, the country's voting power within the MF and World Bank remains significant, as does the fact of its privilege in the financial regime. The regime is structured in such a way that developed countries enjoy privileges that poorer countries do not. Because it can take advantage of the international strength of…… [Read More]
This adds to the understanding of development of the Third World- which is shown in reality as a result of a combination of factors and not just climate changes or other 'natural' causes.
Central to the argument in the article by Davis is the view the ritish colonial empire in the 1800s, as the dominant economic power, influenced and affected other less-developed countries negatively and resulted ion the creation of the Third World. As the author states, the logic of Capitalism and the susceptibility of colonized nations led to the origins of the present division between the developed and less-developed countries. There is a certain moral criticism of these events in the Davis' article. "The route to this "new world order" is thus paved with the bodies of the poor" (Davis 29).
While there are of course many other aspects and answers to the question of the origins of the…… [Read More]
Travelling and Tourism contributes to U.S. Economy
How travelling and tourism contribute to U.S. economy
United States Department of Commerce
Commerce Department Data Show U.S. Travel and Tourism Exports Contributed $87.1 Billion to U.S. Economy in First Six Months of 2013
The official website of the U.S. Department of Commerce takes keen interest in finding who enters the country for the purpose of traveling and tourism and what is the impact of traveling on the economy of the country. The department oversees International Trade Administration. It is found that the international investors contribute multibillions to the economy of country every year. During the month of June this year, the international investors contribute about $14.6 billion. The contribution is increasing every year and from June 2012 to June 2013, the investment increased about 5%. The role of international travelers and tourists is positive on the economy of USA. Only…… [Read More]
The implications of this vulnerability to volatile oil prices is simple; 'high crude prices must encourage European governments to make investments in energy sources other than oil' (Wielaard, 2005, p.1).
The negative economic impact of rising oil prices is typically more severe for developing countries than for OECD (Birol, 2004, p.2). This is currently the case as high oil prices 'are badly affecting many developing countries' (Schlein, 2005, p. 1). The U.N. Conference on Trade and Development (UNCTAD) recently stated that 'the high cost of oil is placing a heavy burden on poorer nations that spend around five-percent of their gross domestic product on oil. This, compared with the two-to-four percent that wealthier nations pay' (Schlein, 2005, p.1).
There are several reasons why oil-importing developing countries struggle more over high oil prices than their developed counterparts. Energy dependency and intensity is greater in developing nations than developed ones; this is…… [Read More]
Asian Financial Crisis of 1997
The economies of the so-called "Asian Tigers" were looked at with envy by the rest of the world in the early 1990s. These Southeast Asian countries -- South Korea, Taiwan, Singapore, Hong Kong, Malaysia, and Thailand had shown impressive (in most cases double-digit) growth rates for the preceding decade and more; thus becoming "darlings" of liberal capitalism and globalization in the post-cold war era. Other developing countries were looking to follow their example, and indeed Indonesia and Philippines were straining at the leash to join the "tiger" club. Investors, bankers, and fund managers from all over the world were queuing up to be part of the Asian "economic miracle" -- and perhaps make a quick buck or two in the process. What's more -- the "trickle down effect" was actually pulling the poverty line in the region steadily downwards giving rise to a growing and…… [Read More]
Motivating Staff in a Global Economy
More and more organizational analysts are referring to the modern workforce as increasingly integrated and interconnected.
This has occurred in part because of globalization. More and more organizations are branching out, running in multiple countries and providing services to global customers. As the workforce changes and becomes more dynamic, people are increasingly reliant and interdependent within the scope of the workplace. Global integration is a trend that has wide-ranging economic, social and organizational implications.
Globalization has resulted in significant changes including an increasingly common practice of outsourcing job roles
Organizations are starting to look for ways to decrease the costs associated with doing business and increase productivity. One way to do this is to outsource job roles.
As more employees face the potential loss of their job because of outsourcing, more and more employers are realizing that motivating staff is becoming a more difficult…… [Read More]
Euro-Zone Economy Contracts in Third Quarter
Blackstone, Brian. Wall Street Journal (Online) [New York, N.Y] 15 Nov 2012: n/a.
The Eurozone has been the subject of much attention lately. The debt crises in Spain and Greece have flooded the headlines of late. However, the problems in the Eurozone go much deeper than these two countries. Today headlines illustrated the fact that the Eurozone has experienced four straight quarters without expansion. The recession of 2008 and 2009 was mostly due to the fact that the Euro experienced pressure from overseas; especially the U.S. However the recent economic woes are more of an internal issue rather than explicable to external forces. There is some debate about whether the Euro will meet the technical definition of a recession, however despite the technical definition's requirements; nearly everyone is concerned with the outcome regarding the slow economic development in the seventeen members Eurozone.
The Euro…… [Read More]
Seven Key Elements for Successful Implementation
Norman inette, Jr.
Manufacturing organizations are built on the premise that they possess the ability to provide a wide variety of quality products for their customers. This reputation is dependent upon the constant review of existing processes and the identification of new and innovative methods of production that will enhance and increase the diversification of product lines. One such process that has proven itself as a valuable commodity in recent decades is World Class Manufacturing. This process involves a number of complex steps encompassing a variety of business units that are subject to continuous review and improvement. This process is designed to maximize employee productivity at all levels of the organization, from the assembly line to executive management. A successful World Class Manufacturing strategy will provide the organization with numerous opportunities for growth and will enable a successful transition to unique…… [Read More]
Gender, Work and Global Economy: The Impact of Globalization on Human Trafficking
The process of globalization has facilitated an integrated world economy and although it has had numerous positive impacts, it continues to produce negative impacts as well. For instance, it has led to the increase of human trafficking at such an alarming rate that it is now considered the third most wide spread and fastest growing criminal enterprise in the world - after weapon and drug trafficking. According to the United Nations Office of Drugs and Crime UNDOC (2015) human trafficking is the recruitment, transfer, transportation, or receipt of people by improper means such as fraud, threat, coercion, abduction or use of force with the aim of exploiting them.
Kempadoo (2005) explains that the vice first caught the attention of the public at the start of the 21st century and it is now a lucrative business that has became…… [Read More]
The company was also wrestling with a revolving debt issue last year, which helped push management to diversify. (Eden, 2009) the current price of the stock is $5.43. It has a high of $11.48 and a low of $2.72. There are currently 254 million shares outstanding, with a float of 229 million shares. The company is no longer paying a dividend. However, between 2005 and 2008 they were paying a consistent dividend of $.80. The company first went public in 2005. ("Dryships,"2010)
Clearly, when looking at any company, there are a number of different tools which can be used to determine if it is a good investment. One such tool is: to carefully examine the management, their past as well as current marketing / business strategies and to examine the price of the stock in relation to the shares outstanding / dividends. This will provide a general overview of the…… [Read More]
hat we learn from this is that no mistake can be erased from history just as no reparations can completely repair damage done. Germany's inability to carry her own weight during this time of trouble only prolonged the world economy, which was badly bruised and desperately needing to be healed.
2. Democracy became the word that was whispered across the globe during the twenties and thirties. The promise of democracy proved to be easier than the act of democracy. "Democracy seemed divisive and ineffective, so one country after another adopted a more authoritarian alternative during the twenties and early thirties" (Noble 1034). However, it is impossible to squash the human sprit that longs to be free. Noble asserts, "Democracy proved hard to manage in east-central Europe party because of special economic difficulties resulting from the breakup of the Habsberg system" (Noble 1035). In addition, he notes, "The countries of east-central…… [Read More]
internet has revolutionized the methods in which individuals obtain information. Americans and individuals in developed nations are especially prone to performing many of their more routine tasks on the internet. Individuals can now converse online, purchase goods online, pay bills online, and even access banking accounts online. These individuals seek convenience and ease of use in many of their routine transactions. With this increase convenience, consumers can engage in various activities with ease and comfort. Customers can access their account information from nearly any platform in the world. Also with the coming advent of cloud computing, seamless access to secure information, will be even more convenient. The same concept can be applied to news and it's subsequently subscription levels. Consumers want easy access to news in a manner that is convenient for them. The internet provides a platform for individuals to obtain news that is relevant to them in a…… [Read More]
S., as they now have the guarantee that the U.S. market is ready to receive and purchase their products.
This is especially important for developing economies that grow at a fast pace, but which also need the necessary markets on which to develop and sell their products. One such example is China, which is an enormous producer, but one that cannot resist unless there are powerful markets on which its products can be sold. Countries in Central and Eastern Europe are similar examples in this sense.
As one can see, a simple change in one of the economic indices, such as the job creation index, has, in fact, greater implications at a larger level and from a more overwhelming perspective and gives good signals towards not only the direction of the U.S. economy, but to the evolution of the international economy at the same time.
The article contains sufficient information…… [Read More]
Foreign Direct Investment
Why has foreign direct investment (FDI) increased in recent decades?
According to the OECD, (Organization for Economic Co-operation and Development), one of the major trends in the global economy during the recent decades is the increase in the foreign direct Investment (2001, p.101). Foreign direct Investment is the process of establishing, owing and controlling the production of goods and services in the foreign country or in simple words, it can be defined as the real assets which are abroad. It is associated with the transitional corporations which expand their global activities.
If we go back 50 decades, we find out that foreign direct Investment was considered as an unhelpful, unconstructive, negative and a method of introducing improper technology for the developing countries. However, a completely different view of FDI has emerged in the last two-three decades and today it is considered as very beneficial for the economic…… [Read More]
" Military History. [online]
Shevin-Coetzee, M. & Coetzee, F. (2010). The World in Flames: A World War II Sourcebook.
Oxford: Oxford University Press.
Snell, J.L. (1962). The Outbreak of the Second World War: Design or Blunder? Boston D.C.
Carr, F.M. (2005, January 1). "World War I to World War IV: A Democratic-Economic Perspective." Journal of Economics and Economic Education esearch, 6(1), p. 117.
Carr, p. 117.
Shevin-Coetzee, M. & Coetzee, F. (2010). The World in Flames: A World War II Sourcebook. Oxford: Oxford University Press.
Hickman, K. (2012). "World War II Europe: The oad to War." Military History. [online] available: http://militaryhistory.about.com/od/worldwarii/a/wwiieurcauses.htm.
Hickman, p. 1.
Corum, J.S. (2004, Summer). "The Luftwaffe and Its Allied Air Forces in World War II: Parallel War and the Failure of Strategic and Economic Cooperation." Air Power History, 51(2), p. 4.
Corum, p. 4.
Corum, p. 5.
Bassett, .L. (2009, Fall). "Sacred Causes:…… [Read More]
In this sense, Stalin decided to extend his influence and to impose certain types of government in countries such as Poland, Hungry, or omania. The same fate would have had Greece and Turkey as well, should the U.S. not have outlined the Truman Doctrine. It can be said that the doctrine itself was a reaction to the tendency of the soviets to extend their influence.
The Marshall Plan can be seen as the economic component of the Truman Doctrine. It was in fact a set of principles pointed out in 1947 at Harvard by Secretary of State George Marshall (American hetoric, 2008). This economic plan too was designed for cater for the economic needs of eastern countries as well, but seeing that the ussian side considered it to be the mere economic arm of the Truman Doctrine, it forced countries under its occupation to reject this reconstruction aid. In fact…… [Read More]
World War II (WWII) Transformed the United States Domestically
World War II was a global military conflict that, in terms of lives lost and material destruction, was the most tragic war in human history. It started in 1939 as a European conflict between Germany and an Anglo-French coalition but eventually grew to include most of the nations of the world. It ended in 1945, leaving a new world that was dominated by the United States and the U.S.S.R.
When the United States became involved with World War II, there were immediate and long-term changes in virtually every aspect of American life. Millions of men and women joined the military and saw areas of the world they would likely never have seen on their own. The labor demands of war industries caused millions more Americans to relocate, mainly to the Atlantic, Pacific, and Gulf coasts, where most defense plants were located.…… [Read More]
The U.S. emerged as a leading superpower and the sole nuclear power in the world, determined to play a leading role in international politics. The post-Second World War era saw the start of a prolonged Cold War in which the U.S. competed for political domination around the world with Soviet Communism until the collapse of the Soviet Union in 1990. The Second World War also helped the country to overcome the economic depression of the 1930s as its wartime industrial production stimulated its economy.
Arima, Y. (2003). "The Way to Pearl Harbor: U.S. Vs. Japan." ICE Case Studies:
Number 118, December, 2003. etrieved on May 26, 2007 at http://www.american.edu/TED/ice/japan-oil.htm
Dwyer, J.J. (2004). "The United States and World War I." Lew ockwell.com. etrieved on May 26, 2007 at http://www.lewrockwell.com/orig3/dwyer3.html
Keylor, William . (2007). "World War I." Encyclopedia Encarta Online. On May 26, 2007 at http://encarta.msn.com/encyclopedia_761569981/World_War_I.html
Steiner, Z. (2001). 2 the…… [Read More]
All European nations suffered devastating postwar economic consequences, which further increased the reluctance to use military force to subdue Hitler. The United States enjoyed a postwar boom, given that none of the battles had been waged upon its own territories. But the Republican-dominated Senate refused to allow the U.S. To become a member of the League of Nations, and the absence of strong American leadership made the League ineffective as a peacekeeping force. Germany was also stripped of all of its colonies: the fact that many new nations were created in the redrawing of the map of Europe meant that many of the recently evolved national identities and infrastructures of new countries were quite fragile.
Although they were 'older' nations, Germany and Russia were particularly politically unstable, as a result of the conditions spawned by orld ar I. Despite its early exit from the ar, Russia's economy was undergoing an…… [Read More]
6. What factors contribute to globalization? The principle factor that contributes to globalization is economics. Transnational companies (Giddens et al., 2012, p. 485), for instance, have a vested interest in identifying -- and exploiting -- the most economically viable markets in which to conduct business so that they can maximize profits and reduce costs. However, there are also other factors that readily contribute to globalization, such as the exchange of global data in the form of communication. With people able to easily disseminate and receive information in virtually any part of the world -- such expedience naturally results in a reduction of national and even global barriers that were previously existent. The main forms of communication include the World Wide Web and the telecommunications (Giddens et al., 2012, p. 480).
There are also important political and economic changes that have influenced the spread of globalization. Capitalism's emergence as the dominant…… [Read More]
Ultra Long-Term Perspectives World Energy
Energy is a very important part of our lives and the world that we live in today. It has always been important since the time that the humans used to do all their work by themselves to the times when they started using animals and even today when we make use of the energy sources around us to produce energy such as electricity.
Today our main source of energy are the fossils fuels that won't last forever as, they take millions of years to form and very little time to get used as a source of energy. One of the very important concerns of today's time is the speed with which we are consuming these fossil fuels and how it will be very difficult for us to keep up with the increased demand which is expected to double by 2050 as the population is expected…… [Read More]
Jerry H. Bentley, the word "world history" has different meanings for different societies. While some may define it as a broad analysis of the whole world's history, others believe it implies foreign history. But, this word doesn't actually correspond to either definition. It denotes historical learning which undertakes an overt comparison of experiences beyond individual societal boundaries or studies interactions among individuals hailing from diverse communities or studies broad historical processes and trends which extend beyond discrete communities. Besides highlighting cross-cultural dealings in a historical context, one chief concern of the major part of modern world history deals with constructing alternative approaches to the established Eurocentric perspectives of history.[footnoteRef:1] [1:. Jerry H. Bentley, A Companion to Western Historical Thought, ed. Lloyd Kramer and Sarah Maza (Massachusetts: Blackwell Publishers, 2002), 393.]
Ever since historical events began to be documented, the element of world history was apparent. The ancient world lacked access…… [Read More]
economy changed in Miami Florida after the terrorist attacks on New York City after 9/11/01?
According to a recent study conducted by the Florida International University College of Business Administration and the Greater Miami Chamber of Commerce, Florida, after the 9/11 terrorist attacks is paying a high price for security for almost two years now, compelling companies to re-evaluate whether to continue doing business in Miami Florida and if so, then how to move about in making it a success (Robert, 2003).
Furthermore, the economic effect of increased Homeland Security measures along with the U.S.A. Patriot Act has been tremendously negative. According to the author of the study, FIU professor David ernick;
There is a risk that key South Florida industries could be seriously undermined by mandates that drive up business costs, disrupt global supply chains and deter foreigners from vacationing or conducting business here while ultimately doing little to…… [Read More]
S. consumers. Although the government should not support protectionism and protect inefficient American industries simply because they are American, it should require that companies selling products in the U.S. Or even partially based in the U.S. meet certain basic human rights standards (no slave labor, for example) and safety standards. This is necessary to protect U.S. consumers and also to ensure that America's reputation for freedom as well as economic growth is sustained.
Some unintentionally redistributive effects, such retaining a progressive income tax system to help poorer families survive while still remaining part of the workforce seem to be beneficial and necessary. Making charitable contributions tax-deductible is also an excellent idea to encourage redistributive effects, but no government can or should engineer a system where everyone is the same economically, without taking away the incentive to work.
However, government production would be acceptable when private marginal…… [Read More]
The increases in the deficit; are a normal effect and will equalize itself out through an improvement in the total amounts of taxes that are collected. (Schiller, 2010)
For me, these insights are providing greater clarity about what actions must be taken to avert recessions. It is also illustrating how the headlines in the news media about government policies may not be completely accurate (i.e. The problems with the national debt). Instead, this is illustrating how these changes are a necessary outcome. That will help to stabilize the economy and prevent recessions from becoming worse. This is the key for avoiding downward spirals in economic activity and the negative long-term effects it will have on everyone's standard of living. (Schiller, 2010)
What has been happening to consumer confidence over the last six months? What explanation for consumer confidence does the memo give?
In the last six months, consumer confidence has…… [Read More]
The Affordable Care Act (ACA or Obamacare) witnessed a twenty-five percent growth in insured individuals. But the above growth was accompanied by a concurrent sharp rise in insurance companies’ premiums. Furthermore, it led to a tremendous healthcare sector burden, increasing the nation’s budget twofold, from 1.3-2.5 trillion dollars according to 2009 estimates (Tuller, 2017). The above phenomenon constituted a gross domestic product increase of 3.8 percentage points (pps.), committed to America’s healthcare sector. In Tuller’s (2017) opinion, the healthcare structure is a “hidden thief” that may be held accountable for no appreciable rise in the wages of the average worker. Kellerman and Auerbach (2017) contend that swiftly growing healthcare expenditure may end up harming the nation’s economy by bringing about employment and GDP declines and a growth in inflation.
Greater national expenditure adversely impacts economic development, to a considerable extent. Rise in workforce health insurance premiums has deterred investors from investing…… [Read More]
solation on a wider scale occurs as a result of large industries. Most Western citizens are dependent upon large industrial companies for their food, power, and almost all other necessities and desires. This is ultimately unsustainable, not only for the world in general, but also for the individuals involved. Because of the focus on mass consumption as promoted by the media, the human tendency is to want whatever the media promotes. This leads to unsustainable lifestyles, which contributes to further problems like debt and the like. Rather than the happiness and fulfillment promised by the many products on offer, misery increases.
As such, hyper-individuality and unsustainable mass-consumerism appear to be at the basis of the emotional and lifestyle problems people tend to experience today. McKibben offers some interesting alternatives. Although the communally-based lifestyle he suggests appears somewhat extreme at first glance, do believe that a compromise needs to be made…… [Read More]
economy was booming a decade ago, before the financial crisis that hit hard in Southeast Asia. During this time of economic prosperity in Bangkok, I landed my first job with an American franchised fast food restaurant: Popeye's Chicken. At first I was amazed when I realized that the manager had only hired two workers to run the restaurant. With the crowds that came in at peak times of day, it seemed totally unreasonable to expect efficient service. However, it was even more surprising how much I was capable of doing. The tasks that I once thought were overwhelming became less daunting and the operation ran incredibly smoothly. My colleague and I ran the franchise with aplomb, belying our young age. With a work schedule planned by our manager, which was based on the American franchise system, my coworker and I supervised and operated Popeye's with enthusiasm and competency. It was…… [Read More]
This research will help to solidify the unique problems and challenges inherent to international marketing and attempt to suggest methods for overcoming these obstacles.
Limiting the scope of the research to ethical barriers and challenges in international marketing will make the scope of the project more manageable, and will still provide ample ground for research from various cultural perspectives (Saeed et al. 2001). It might even be necessary to limit the scope of the project to several common intercultural exchanges, examining only the ethical issues that arise from specific international relationships and the marketing that occurs between them.
Czinkato, M. (2003). "An international marketing manifesto." Journal of international marketing 11(1), pp. 13-27.
Saeed, M.; Ahmed, Z. & Mukhtar, S. (2001). "International marketing ethics from an Islamic perspective: A value-maximization…… [Read More]
World War II drew to a close, and the planet was forced to recalibrate in unprecedented proportions, the United States began its long emergence as the most expansive super-power that had yet been known. Its influence that would compete virulently with the post-war Soviet influence for half a century, has since disseminated into every facet of the geopolitical theatre. As such, American support can operate as the determining factor in the success of a national agenda. Likewise, American dissent can be the stifling roadblock that sets nations adrift in failure and, consequently, resentment. So it's important to acknowledge that a nation's complaint of American neglect is more than just the bitter rhetoric of the disenfranchised. The emphasis placed on American approval and volition is fairly justified when one considers the weight and implication of the U.S. stance on any given topic. And it's certainly fair to say that American intervention…… [Read More]