Essays on World Economy

Impact of Unemployment on the Long Term

The unemployment is defined as the state of looking for a job and not being able to get a job. The unemployed people are willing to be in the labor market; however, the economies cannot produce enough jobs for all the workers. The unemployment might continue the long term, especially after the recession times in the national economies (Krueger, Cramer and Cho 230). The ability to create new jobs is very essential for the national economies. The recession times in the world cause an increase in the unemployment rate, and some of the unemployments are long-term unemployments. The most ...

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Introduction

Components of a networked community Characteristics of a network society Privacy of information Identity and networked communities Effect of emergence of networked society on capital and labor Arguments for a networked society Critiques of the network society Conclusion Reference The Networked Society Introduction In the current world, people have access to adequate, accurate, and timely information. The interconnection of people has been made possible by the tremendous improvement in technology in the twentieth and twenty-first centuries. The access and affordability of communication devices like computers and phones for a long time has brought about a gradual change ...

In today’s economic and technological climate, the world’s consumption of oil and gas far outstrips our ability to replenish our supply. At the current rate of our oil usage, I do not believe it is possible to maintain our consumption for very long, as it would require the discovery of new fields on par with Saudi Arabia’s current supplies every decade. Even if we were able to find these new supplies and deposits, there is only a finite amount of oil remaining in the world, thus necessitating the consideration of alternative fuel sources. If the developed ...

Numerous studies have been conducted on various impacts of international trade on world cultures. However, contradictory results are suggested by various writers and scientific articles authors. This paper examines some academic researcher on the given topic to purpose that additional research can be conducted to better understand how international trade influences cultures and economy. Sokolova states that: “Although TNCs bring immense benefits, their functioning is often correlated with negative impacts as well”. (Sokolova, 2010) Eckhard Janeba states that: For economists globalization and trade liberalization are good because physical output increases as the result of international specialization, which in turn ...

Realist Perspective

For realism characterized the approach to international relations as a reality, which has a certain set of 'reality': military power, economic potential, the national interests of a country, etc. The main purpose of Realism is that states are seeking for power due to their means of either security or domination. Disregarding the logic of appropriateness, all the actions taken by the states are driven by the means of power. Theory of security dilemma provides the idea, that current international conditions should allow both Washington and Beijing to protect their vital interests, not presenting a serious threat to each other. ...

The relation between an epidemic and world economy

Epidemics have been influencing our world since time immemorial, affecting all the living creatures. Nowadays, apart from those alive, they also make damage to a more abstract product of our activity, which is economic development. Depending on different circumstances, related to the very health issue or to the well-being of its coverage territories and states, the scope of damage varies; for example, “[r]ecent epidemics of HIV/AIDS (and the linked epidemic of TB) and SARS have had strong impacts on the wealth of households, businesses and, in some cases, entire economies” (Bloom & Canning, 2006, p. 26). Consequently, all the ...

The age of exploration and colonialism was in fact the first period of globalization starting in the early Modern and going through the modern period. European explorers, traders, merchants and governments were primarily interested with trade with Asia and the Americas. The connection between silver from Spanish America and Asian spices and luxury products was one of the main drivers of the world economy from the sixteenth to the eighteenth century. As always economic changes seem to have another, even larger social impacts. Greater interconnectivity between Europe, its American colonies and Asian markets and its connection to the global ...

Foundation Course – Name

Introduction The US-China international relations attract much attention of politicians and economists all over the world as the key influential and transformational factor on the global arena. Ferguson & Schularick (2007) adopted the term “Chimerica” to describe the peculiar relationship between US and China established during the decades. According to ancient Greek mythology, the Chimera was a monster with several heads, legs and arms representing a strong animal able to dominate the world and threaten its stability. Analyzing the world global crisis 2008-2009 and recession phenomenon Ferguson & Schularick (2007) referred the “Chimerica” concept to the emerging monster, which currently regulates ...

COMPARISION BETWEEN THE UTILITY OF WALLERSTEIN’S WORLD SYSTEM THEORY AND FOCAULT’S THREE UNDERSTANDINGS OF POWER

The world systems by Immanuel Wallenstein and Michel Foucault’s three understandings of power are some of the most important theories that explain power differences among nations (Polat 2012). Their relevance to international relations is that these schools of thought all endeavor to explain reasons why there is power imbalance among world nations in their trade and political relations with one another. According to the world system’s theory, there is need to have a holistic study of the entire world economy as a system in order to understand how each country fits into the whole world system.

Meaning of Power

The ...

Abstract:

Many experts argue that there needs to be high flexibility in the way in which the economic integration policies are set. This means that there will be a space for allowing speed and formulations of geometry, regarding the developing economies. There should not be such an integration which overlaps with the memberships in such organizations and contains varied objectives, keeping up with each one being a tough task to handle. The way in which a developing can choose the right global economic integration for itself is by making comparisons and distinctions between the comparative advantage of the preferences in ...

Introduction

One of the most important things, if not the most important one, that society needs today is energy. Energy comes in many form and moist literatures focusing on this topic would agree that among all the possible sources of energy, oil comes as the most heavily demanded, and hence the most important. In fact, one may argue that the geopolitical movements and decisions that have been made in the past half a century have been motivated by access to this important energy-related commodity. There are many possible sources of energy but even though oil just comes as one of ...

Vanishing Middle Class: Implications for Management and Business

The middle class person belongs to a social group that falls between the upper and the lower working class, speaking in terms of socio –economic factors. The degree of socio-economic factors varies from one country to another and differs significantly. However, it is seen that, in most parts of the developed world, the middle class has slowly and steadily started to vanish. The issue of vanishing middle class is primarily related to the business, the reasons for this are:

- In countries such as America and UK, several workers are struggling to survive, as rapidly changing markets and technologies ...

International trade is defined from various sources as the exchange of goods and services between countries. International trade allows countries to expand their markets for both goods and services that may not otherwise be found domestically. In international trade, the goods and services are called imports and exports and it mainly involves foreign exchange. International trade is either visible (exchange of goods) or invisible (for exchange of services like tourism and electricity).

Imports: these are commodities ...

Japan was left with 3 million dead people and an empty treasury when the world II was over. The nation stood up and became a major player in the world economy within two to three decades. There are various factors that contributed in the flourishing of the Japanese economy. This paper intends to discuss Japanese economy with a historical perspective and other related aspects.

Japan learnt a lot from its past experiences. Japan was almost devastated in the World War II. The country was determined to regain its prosperity and the power. Japan focused on the industrialization in the post world ...

- Introduction

1.1 Background developments

Traditionally, accounting standards have been developed by different countries on the basis of local legal, economical and cultural institutions frameworks (Elliott and Elliott, 2009, p. 158). As a result, the standard setting was very country specific. With the globalization process at work for the last 3-4 decades and increasing mobility of capital internationally accepted accounting standards have become necessary to facilitate cross border transactions and make financial reporting comparable between countries and companies thereby leading to a greater transparency for investors (Nobes, 2004). IASB has been set up as a private international standard setter with a mandate to create high quality accounting standards ...

It has been 5 years now, but the world economy is still hovering over with ill effects of global economic recession. Different economist define recession in a different way but one common definition which can be derived is that recession is long lasting and prime reason for slowdown to economic activity(GDP). GDP is considered to be the broadest indicator to measure economic activity. Our following section will discuss how the economic activities in US has actually decreased since the beginning of market turmoil.

Fall in Consumer Consumption Expenditure:

Consumption Expenditure is the most integral component of GDP calculation and consumer consumption accounts for 70% ...

Abstract

The shift towards globalization was induced by social, economic, political and technological realities of a changing world. As such, this paper discusses the main drivers of globalization and what specific factors determined the shift towards a global economy. The paper investigates how the economy became global and what are the implications of a global economy for domestic industries, for consumers and for companies activating in various countries and competing with very diverse rivals. The paper shows that while globalization has its challenges and also its negative effects of maintaining less developed countries or third world countries in poverty, there are also advantages ...

The state of the world order has often changed throughout history due to various events that redefined which region or country held immense influence around the globe. Since the end of the great wars, the West – led by the United States – held immense power as to the course of international politics and determined the standards of the rest of the world. In recent years, Western dominance was close to being invincible in every aspect of the world. However, when the Global Financial Crisis struck, the public and experts alike noticed a significant change within the world order. A few even ...

India: Reforms, Policies, Development

Report

Abstract India’s economic miracle has always been the point of interests for western researchers. India has become a successful example of a rapidly growing economy due to a number of political, economic, social and industrial reforms. This country has become the world’s leader in hi-tech sphere, producing, supporting and implementing the world’s largest volume of software and hardware. In this report, the structural development patterns are shown during several periods, which brought tremendous shifts in economic, agricultural and industrial sphere making India the global leader in numerous aspects. However, efficient reforms have not solved certain social problems ...

Introduction

The world economy is on a continuous upward growth trend since the past decades. With the world population continuously surging to new highs, it is only normal for the greater world economy to expand with it. After all, every person or population consumes a certain volume of product or service. This means that the larger the population is, the greater the demand for market products and services would be. The world economy can be divided into various fields and industries. It is important to note that each economic sector and or industry experiences a more or less unique trajectory and pace in ...

MNCs are more likely to pursue global uniformity or differentiation

Introduction The Multinational Corporations (MNCs) are an essential part of the world in terms of an economy that is directly associated with the employment and trading. The performance of the multinational corporations is based on its employment structure and the human resource capability. The employees are the primary factor to achieve competitive advantage based on their knowledge and skills. The realization of the importance of the human resource management is directly resulting in the best practice of the human resource policies. As the multinational corporations are operating in a number of countries, therefore, such organizations face several kinds ...

Identification of Malaysia’s Economic System 3

Evaluations of Malaysia’s Economic System.. 4 Rationale of Malaysia’s Economic System on Utility Maximization...7 Pricing Mechanism.. .9 Conclusions.. 11 References... 12 Identification of Malaysia’s Economic System The economic systems of the vast majority of the developed countries in Asia, Africa and Latin America are supposed to be mixed. In spite of the fact that there was the backward, predominantly, pre-capitalist, economic structure characterized by the use of primitive equipment and technology, it did not prevent from being the leader in the economic sector against the background of the particular economic ...

It is no longer possible to completely stop global warming is no longer possible, however strenuous efforts should be made to minimize its negative effects. Sakurai asserts that environmental conservation is bound to trigger decreased operational costs. An important feature of the globalization of the economy is an increasingly close relationship of development to changes in the environment. The influence of ecology on the global business should not be overestimated. In his article, Masamitsu Sakurai outlines three stages of environmental conservation at Ricoh. The Passive Stage included regulations and reactions to outside pressure, while during the Proactive ...

Introduction:

Despite the devastating effects of the 2008 global financial crisis and the subsequent Euro zone crisis, the tourism industry has continued to flourish. Initially, the industry was referred to as a cottage industry but the international travel and tourism industry has evolved becoming a major contributor to economic growth and development in almost every economy in the world. Research has shown that the global increase in worldwide tourist arrivals outperform gross domestic product growth in one out of every two years in the past three decades. Many countries regard tourism as the most significant primary export industry especially the developing world. ...

Since the ancient times, it is visible that there is always a gap between societies that often divides them into two or more distinct groups. There are countries that have more political and economic capability than other countries, while there are countries that are better in social stability. In terms of people, they are mostly divided through their financial capability, educational attainment and upbringing, which would then determine as to whether or not they can keep up with the modern world. As far as technology is concerned, people are yet again divided over their capacity to know and afford these ...

IS THE WORLD ECONOMY BECOMING MORE GLOBALIZED, MORE INTERNATIONALISED, MORE WESTERNISED OR MORE NEOLIBERAL? DISCUSS

Introduction The world economy is a contemporary topic of study in the current century because of its uncountable benefits. People need to understand the economic situation of the world to foster local, regional, and international development. There are numerous benefits of understanding the economic trends in the world. Understanding the world’s economic trends enhances an individual’s purchasing powers, economization, and creating a platform of countering the effects of any economic problem such as recession and depression (Cannan, 1976: 34). From the past experiences, it is notable that the world economic recession affected many people and institutions. Although some ...

Introduction

All Millennium Development Goals have been achieved or are in the process of being achieved in China. It is experiencing economic success because it has moved from being centrally based to a market based economy. This has led to huge economic and social development, lifting more than five hundred million people out of poverty. Being the country with the largest population on earth (1.3 billion or more people), it is the second largest economy and is directly affecting the global economy. China being the largest exporter and second largest importer of goods in the world, it has the largest ...

Introduction

Is the fish population close to extinction? This could be addressed by taking a look at the present trend in the marine and aquatic population. The marine and aquatic habitat house more population and species than the terrestrial. The researches have proved, and made it obvious by the fact that water bodies take up 70 percent of the earth surface. Fishes are the most common species in the aquatic and marine habitat. There are various types of fishes, and each species is important in the food chain. In fact, the depletion of one species can create incredible consequence and effect ...

Current Economic State and 2008-2009

It is about six years since the world experienced the worst global financial crisis in the history of the world economy, however, considerable improvement can be seen by looking at economy of various states all over the world (Irwin, 2013). The economy had a continuous increase of risk in all sector following the failure in housing prices and weak monetary policy of key economies of the world. Risky economy resulted to the sudden change in the lending rates and spending by the households. The effect of these was manifested in the sudden but steady decline in the world per capita. ...

- Globalization and burgeoning technology/innovation that shrink product-life-cycles, coupled with global competitor’s quality and price, brings goods to the USA adding to 80-90% mega-competition for most consumer goods sold in USA, compared to <25% in 1950’s. Equally, global companies compete severely and challenge US firms abroad. - The U.S. and Eurozone economies play major roles in the world economy and are crucially important for each other’s prosperity. The two sides combined account for around 40% of world GDP, over 25% of world trade, 60% of world foreign direct investment flows, and 60%-70% of ...

ITERNATIONAL MONETARY SYSTEMS

Abstract The purpose of this paper was to study three main monetary systems: the Gold Standard, the Bretton Woods, and post-Bretton Woods. International monetary system is a set of methods, tools and intergovernmental bodies, with the help of which the mutual payment and settlement turnover function within the global economy. There existed and succeeded each other three international monetary system. The first one, the Gold standard, was based on gold which was the main form of money. National currencies were pegged to gold, and the gold content of the currencies was correlated with each other at a fixed exchange ...

Introduction

Automotive industry plays a key role in the development and engineering in general and transport engineering in particular. Automotive industry world is capacious and very important sector of the world economy and international business, it's not only the cars, but also a variety of goods on car servicing, as well as, to a large extent, the market for the production and sale of spare parts. Car Market has a number of related markets and industries from the most closely adjacent (market parts and blocks of cars and the oil industry) to the less obvious (roads, production of accessories for cars, etc.). An ...

Introduction

The tag dangerous good from China is a term used to refer to the inferior and counterfeit goods that have become dominant in world trade. The issue of counterfeit good has become a global crisis in the recent years. Based on the Counterfeiting Intelligence Bureau (CIB) study, it is realized that, counterfeit products account for up to 7% of World trade. Even though, the percentages cannot be substantiated due to the secretive nature of this market, the figures are expected to rise by 2015 worldwide. Despite the war against counterfeiting, the pirated products could rise to USD 200 billion in the ...

Is Economic Recovery Possible?

Introduction The world economy started developing rapidly after the industrial revolution. The Western countries could produce mass amounts of products over their citizens’ needs, and market the unneeded amount of the products to the other countries. The developing technology has enabled the merchants to reach the farthest points on the world to sell their products. These developments have brought the term of globalization. The technological advancements and the developing capitalism have led the humankind to an economic development path. Some of the Western economies could manage to get the big shares in the world economic development while the ...

Introduction

Globalization has allowed for the birth and nurture of an increasingly open, integrated, and borderless international economy wherein not only international trade goods and services grew, but also “exchanges of currencies, capital movements, in technology transfer, in people moving through international travel and migration, and in the international flow of information and ideas” (Intriligator, 2003, p. 2). Economic globalization, in particular, was defined by Chase-Dunn (1999) as that globe-spanning economic relationships manifested through the interrelationships of markets, finance, goods and services, and networks created by the transnational corporations. In the paper writer by Gissinger & Gleditsch (1999), it was ...

The issue of immigration in the United States is of the highest orders of importance. There is much that immigration does to affect a country. Setting an immigration policy that is followed allows countries to make decisions regarding who can come to their shores. But when a country has a policy that is not followed, they are unable to influence immigration. Immigration is of the field of economics because it affects economies and economic conditions are one of the biggest drivers of immigration. In this essay the analysis centers on why the current policy fails and what are the beliefs about what ...

Reply to Classmate 3:

Sharing an insight to my classmate’s reference that the nation faced failing foreign currency loans post the 1981 period, important to note, during 1980 and 1981, the nation was receiving good amount of net foreign loans that amounted to 6.2% and 3.1% of GNP, respectively during the years. However, beginning with 1982, the net new lending declined significantly and turned negative. As a result, net resource transfer that accounted for 3.1% as a percentage of GNP during 1981, plummeted to -3.4% in 1982 and -6.9% in 1983, thus infusing the early stages of hyperinflation in the country. In addition, ...

IMPROVING SKILLS DEFICIENCIES AMONG THE WORKFORCE

Improving skills deficiencies of the workforce Introduction The growth in the skills deficiency of the workforce is a worrying trend. The latest reports indicate that the American workforce is flooded with illiterates who do not have the basic skills to perform the work to which they are assigned. The rate of decrease in the skill of the workforce is caused by the low level of education standards that are evident in any post-secondary educations. Apart from a lack of good education, challenges also arise in the confusion in the area of specialization. Most workers do not work in the ...

The interest rates for the central bank of Kenya have had different faces since 1991 with the rate changing as the economy of the country keeps on shifting from worst to best. At the moment, the exchange rates in Kenya stand at 8.5 percent as compared to that adopted by the Federal Reserve System (FED) of America which stands between 0 and 0.25 percent. From the year 1991 to 2014, the average exchange rate for Kenya is 14.62 percent. Kenya recorded a record of 84.67 percent in July 1993. At this time, the FED was enjoying the exchange rate of ...

The British Occupation of Egypt in 1882

Introduction Mixed reactions were rampant with reference to the occupation. The European had various opinions and reasons for occupying the country including promotion of trade and development of perceptions and civilization in the country. On the other hand, the Egyptians felt their land was being taken, and their heritage was being taken away from them as well. Both reactions of resistance and collaboration led to different results in the country. The results were both positive and negative to the people especially concerning the economic sector. There is a great relationship between the historical occupation and economy.

Origin of the Occupation

After constructing and ...

Countries are classified under developed, developing and underdeveloped based on their economies. In an ideal world, resource rich countries should be rich and developed, but this is not the case. Resource rich countries in Latin America, Asia and Africa fall either under the umbrella of developing nations or underdeveloped nations. Thus the question of why some countries are rich and others are poor arises. A study of economic history is thus vital to understand and answer this basic question, a study of the economic history also helps the reader learn from the past and design solutions for the future. A ...

IMF

International Monetary Fund (IMF) Introduction The international monetary fund (IMF) was initiated in 1944 during the Bretton Woods Conference and formally created in 1945 with a membership of 29 countries. The main IMF goal was stated as to assist in the reconstruction of the world’s international payment system post the Second World War. Countries contributed money and put it in a pool through a quota system from where countries which had an imbalance in trade could borrow. Ever since the membership of the IMF has grown to 188 countries of the world and the main goal changed to fostering ...

Today most of the companies follow the principles of sustainable development and pay more attention to managing reputation and image assets and risks. This trend is caused by the establishment of a new type of competition between the companies: the companies compete neither in price nor in quality tactics, they compete in ideas and principles that come with this or another product. More and more people are paying attention to ethical aspects of the company’s operation (for example, in-life testing of products). This means that ethical and corporate social responsibility principles have become one of the driving forces of ...

Recession affects every aspect of the country’s economic growth. Sometimes its effect is limited to one or more countries but sometimes recession affects the world economy. The World has faced various small and large recessions in the past. Various efforts have taken in order to overcome the recession and its effects. This paper intends to discuss the recession along with discussing who decides that recession has started and other related aspects of the area under discussion. There is not any fixed definition of recession. The term, ‘Recession’ indicates towards a substantial decline in all economic activities of one ...

Company and Industry Averages Ratio Analysis

This graph shows the current ratio and quick ratio for the two companies. In it we can see that Union Cement Company has a higher current and quick ratio compared to Umm Al Qaiwain Cement and that the former’s two ratios are slightly higher than the industry standard. This graph shows how Umm Al Qaiwain Cement has fallen below industry standards in terms of Total Debt Ratio—which is a good thing and how Union Cement Company exceeded the industry standard in that indicator. In terms of Debt Equity Ratio, it is the Umm Al Qaiwain Cement that exceeded ...

ABSTRACT

This study explores on the effects of the subprime financial crisis (SFC) on the United States (US) that lasted between 2007 and 2011. Key to understanding the foregoing requires further exploration of the history of subprime lending in the US and its implications to the SFC. A qualitative review of studies under the provided brief literature review provides the methodology for the accomplishment of this study. Findings show that apart from worldwide economic effects, the US greatly suffered from the collapse of its subprime lending market, the decline of financial institutions due to providing too much allowance to granting ...

A Conflict Diamond is defined by US as the sorts of diamonds that are generated from remote areas which are ruled or controlled forces that are opposed to internationally recognized legal nationalist governments. This is the class of diamonds that are sold to help the rebel groups or forces in terms of finance, in their armed struggle. The most affected areas out of such phenomenon are Angola, Liberia, Sierra Leone and Congo. By the latter half of the year 1990, a four percent of total diamond production of the world was of conflict diamond that funded tremendous atrocities globally. Considering ...

Aside from political reform and development, the international community has also been busy in creating new means to stimulate growth and economic sustainability. Proposals such as reduced tariff, removal of trade barriers, and the introduction of free trade were pronounced by either developed or developing countries. In Latin America, free trade has been a fundamental aspect of the market reforms carried out in the region; however, the results have varied especially with the onset of globalization and the lingering effects of tariff reduction. Some believe that having trade reform to a growing and a potential economy such as Latin America can sustain ...

Informational Interview with an Oil and Gas Consultant

Introduction Today, the global oil and gas industry offers exciting opportunities to young college graduates, post graduates, and experienced professionals. It is one of the most lucrative industries, which is full of challenges and exciting new opportunities. This paper deals with the reflections and advice that I received after interviewing Mr. Agnihotri, who is an oil and gas consultant of international repute. He provided me with valuable information and insights on the dynamics of oil and gas industry, and what it can offer to the next generation.

Background of the Interviewee

He has authored of a book titled ‘oil- past, present, future- An ...

A continual debate among economists, political experts, social, cultural, and world governments about globalization leave some people scratching their heads about what does globalization actually mean. According to Cusimano Love, "Globalization increases connectivity among individuals, polities, and regional and functional sectors. This increase in connectivity leads globalization's proponents to argue that globalization increases information, transparency, and democracy, serving as a powerful engine of social, political, technological, and economic progress and development" (11-12). Review of the following literature with some assigned and others chosen to compile this discourse on the subject of globalization connect in one specific way and that is ...

This essay argues that, neoliberalism has created a continuum of deservedness, one that favours some groups in their claims to social rights, while at the same time inhibiting others. The Themes essay covers corporate and globalization policies, conflict resolution, and foreign policies. Since the advent of neo-colonialism, its main objective has been to remove all the barriers of commerce among the economies of the world, and the privatization of all the available services and resources. Therefore, in this context, public life is placed at the mercy of the market forces, while the extracted profits only benefits the few social elites. ...

Introduction

The global economy has been advancing as time passes. Various economists have been coming up with different views on what has been the main cause of the evident changes. Analysis on the various views by different economists shows that technology has been the main driving force of the global economy. Different sectors in the economy have embraced technology as the backbone of their businesses. Extractive, clothing, and automobile industries have been leading in application of modern technology in their daily activities as guarantee for performance. Their contribution to the global economy can never be ignored.

Extractive industry is made ...

Introduction

The Great depression was an intense worldwide economic depression preceding World War II. This was in the time period of 1930s. This remains to be the most horrible economic phenomenon of the 21st century made of separable but interrelated events. The depression began in USA after the stock market crash of 1929 following the fall in stock prices; Black Tuesday. The resultant was devastating result on all sectors of the economy with employment loss among the employed. The Depression brought about mixed reaction among economists, historians and the political class. The economists’ failure to understand the development of contemporary ...

Introduction

The rapid increase in oil prices demonstrates that global oil market has entered into a period of oil scarcity. It is expected that rapid growth of oil demand in emerging economies and decrease in oil supply is the main reason of oil scarcity. Oil is an important factor in the production and transportation and it is the most traded commodity in the world. In general, oil prices follow the economic law of demand and supply. According to this law, when demand increases over the supply, the prices will increase that influence both the supply and demand (Cashin, et al, 2012). ...

Introduction

The modern society is characterized by rapid development of production that resulted in increase of people’s living standards all over the world. These changes influenced people’s behavior and existing tourist needs as compared with the previous years. Over the recent years, tourism has become one of the leading and fastest-growing sectors of the global economy. It is acknowledged to be the economic phenomenon and is predicted to have a very promising future due to its rapid growth and great popularity. According to the World Tourism Organization (UNWTO), the growth of the tourism industry will be irreversible in future, ...

Introduction

The Dickens’s model in the context of global shift emerges to be a result of some principally focused research on the different patterns and process that are associated with globalization. Through out the whole context, Dickens creates focus on the processes as well as the patterns of global shifts. Besides this, he also emphasizes on the forms and results of globalized economic activities and the forces that trigger these forms(Dicken, 2007 pg. 78). Ideally, the model tries to bring across the three vital factors that are essential in transformation and improvement of the economic structure globally. These factors ...

11-18-13

Former Governor John Hammond of South Carolina gave an impassioned speech retroactively styled “Cotton is King” at a pro-slavery event on Kansas in 1857. In this speech, he makes a number of points, few of which are sustainable based on evidence. He argued that the nation would be insane to go to war against the states responsible for the production of cotton (Hammond, 302) when it is the most stable commodity the US has to offer the world. (Hammond, 302) He basically argues that it would be economic suicide for the United States to turn against the production of cotton by ...

With the development of other avenues of energy sources, there is likelihood of having oil crash in the next few years. This is made possible with the development of electric cars which are going to use electricity and not gas to operate. People are also shifting their use of the grid energy sources to the natural sources of energy. With this trend, there is likelihood that oil crash will be experienced sooner than later. These developments of new technologies will, however, take place many years to come. There are still a lot of improvements that require being undertaken. It ...

The economy of Canada is among the largest economies in the world in relation market exchange rates measured in US dollars. Canada is therefore one of the wealthiest nations in the world. This country is ranked eleventh largest economies in the world and it is one of the members of the Organization for Economic Co-operation and Development (OECD).This country is also a member of Group of Eight called G8.The service industry dominates the Canadian economy like the rest of the developed nations. The service industry in Canada therefore employs around 75% of the Canadians. The Canadian economy has also ...

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Abstract (Introduction)

The processes of globalization of the economy, consisting of the alignment of technological conditions of production, bringing together the wage level, to improve the accessibility of information technology, updated the search for new ways to compete in the market. The availability of comparable financial and material resources, training, using identical social programs deprives the organization of competitive advantage, which could be observed in the years of resource scarcity. Marketing technologies have reached a level at which the objective of increasing the quality of the goods is not a priority. With the power of ...