Abstract This paper compares the trend of capitalism in the late 19th - early 20th century with the trend of globalization today. It explains that globalization of the world economy has the potential to bring both great benefit and great hardship to third world populations, but like capitalism, globalization without proper checks and balances could become a runaway force, knowing no moral or ethical boundaries. The potential harms and benefits are listed, showing that in moderation, all these factors need not be a threat to the third world.
From the Paper "But globalization is not a term that is merely descriptive. Worldwide, as many people are taking an active stance against the globalization process as there are working toward it. Coalescing from a variety of sources, pro- and anti-globalization forces are beginning to take on the same impassioned polarization that dominated the debate between capitalism and communism in the early 20th century. Interestingly, each side in this debate relies heavily on examples from the Third World to make its case. The proponents of globalization cite a myriad of benefits to be gained by underdeveloped countries though greater access to the goods and services that transnational companies can provide. Anti-globalization activists, on the other hand, point to many examples in the developing world where globalization has robbed indigenous populations of traditionally held land or water rights, disrupted cultural and social values, and disturbed lifestyles. "
Tags: world, power, multinational, dictator, poor, development, UN, WTO, IMF
Abstract This paper examines the book "Nickel and Dimed" by Barbara Ehrenreich which is a journal of the time spent by the author 'undercover', to see if she could lead a basic life (rent, food etc.) from earning the minimum wage in light of a welfare reform which implies that any job is better than living on government assistance. It discusses her experiences from 1998 to 2000, when she lived in three different states, Florida, Maine and Minnesota, working at $6 to $7 an hour jobs and assesses her findings. The paper brings to light general problems such as stress in the workplace and how what was an experiment for Ehrenreich is real life for so many others.
From the Paper "Ehrenreich soon discovers that it is not easy to eke out a living from entry level positions, which is the common starting point for most welfare mothers and others on government assistance who are required to trade medical benefits and food stamps for the work force. Her first job was as a waitress, or server as they are called in the politically correct world today. Her wage is $2.13 per hour, due to the Fair Labor Standards Act, which states employers are not required to pay tipped employees any more than that. However, as she soon discovers, managers are required to make up the difference between that and the hourly minimum wage of $5.15, if wages including tips fall short of this, but few, if any ever mention this law."
Abstract This paper provides practical criticism of Ehrenreich's study. The writer states that it was unrealistic and not thorough and he cites many specific shortcomings of the study. The writer shows that the study did not do enough to cover all the options of government aid available to a low paid wage worker and also that the person was fussy about which job to take.
From the Paper "Barbara Ehrenreich's Nickel and Dimed brings to light the low-wage America in all its stubbornness, nervousness, and astonishing openhandedness. It is a territory of Big Boxes, fast food, and a thousand frantic subterfuges for continued existence. Some people may advise others to read for the ablating clearness of Ehrenreich's point of view and for an infrequent analysis of how "opulence" seems from the bottom. Also, some people say after reading this book no one will ever look at a motel bathroom or a restaurant meal quite the same way again. However, there are many people who believe Ehrenreich's experiment living as a wageworker was poorly done. She failed to mention some of the main problems that they have. Those problems include shoes that are worn completely out, no means to get medicine if needed, childcare worries, and hopelessness and the sense of lack of control."
Abstract In discussing the disadvantages of monopolies and antitrust versus anticapitalism, this paper examines the history of antitrust laws, the anatomy of a monopoly, how monopolies effect the economy, the politics of antitrust, the role and opinion of the Federal Trade Commission and the Microsoft case.
From the Paper "America was founded on the idea that everyone had an equal chance to achieve financial success. If a person had a dream, they could follow that dream and get their piece of the pie. Coming from a weighted and disproportionate system, America's founders wished to form a country in which everyone had a chance. In England, one was born into their station in life. The rich would always be rich and a poor person had no chance of rising from the ranks to become wealthy. Antitrust laws were originally designed to keep the playing field even and give everyone and equal chance at achieving the American Dream (Mueller, 1997b). Their purpose was to assure that the old bourgeoisie class system that existed in Europe did not become a reality in the New World. Therefore many states adopted antitrust laws to assure that capitalism thrived and no one became so rich and powerful that the old class system, that they so loathed, developed."
Tags: law, competition, america, economy, capitalist, microsoft, system
From the Paper "In 1936, John Maynard Keynes published a book entitled The General Theory of Employment, Interest, and Money. In economic and political circles, the book was an immediate success, particularly among the new breed of American economists. Not to be immodest, British Keynes wrote a letter to the philosopher George Bernard Shaw stating that, "I believe myself to be writing a book on economic theory which will largely revolutionize . . . the way the world thinks about economic problems". Keynes' theory, and the furor it continues to cause, will be the subject of this paper. The paper will begin with a background analysis of both Keynes and his General Theory. It will then focus on the Keynesian legacy in economics, politics, and intellectualism. Finally, the paper will conclude with an assessment of the General Theory within the context of the modern ... "
The effects of the trade agreement on Mexican society and the economy, focusing on maquiladoras (border plants) including workers, tariffs, impact on trade with the U.S. border states and ports. With charts.
2,475 words (approx. 9.9 pages), 11 sources, 1994, $ 87.95
From the Paper "The North American Free Trade Agreement (NAFTA) seeks to create a trading bloc consisting of Canada, the United States, and Mexico. The bulk of the treaty was negotiated by the Bush administration, but it falls to the Clinton administration to coordinate its ratification by Congress. The agreement is the subject of much controversy over whether American jobs would be lost or gained, and what the eventual affect of the agreement will be on the American economy. This research seeks to understand the effect of NAFTA on a smaller scale; namely, the effect of the agreement on those states which border Mexico.
To understand NAFTA's effect, it is necessary to understand the environment into which NAFTA will be implemented. Mexico effectively restructured its economy during the late 1980s. Prior to that time, the country was highly protectionist and..."
Abstract This paper addresses the various issues on the top of public debate regarding the introduction of the Euro as a replacement for the current British currency of pounds. It present arguments for and againsts its introduction and examines Prime Minister Blair's position on the issue. It explains Blair's "five economic tests" conditions that the Euro needs to pass before being introduced in Britain. It discusses how public opinions change according to social classes and concludes with a discussion on Britain's general attitude towards Europe.
From the Paper "Whether to adopt the euro is a controversial issue in Great Britain. Public opinion sways on the subject, based on national economic and political concerns, as well as international developments. The centrist Tony Blair has cautiously backed the adoption of the Euro, but he continues to face significant opposition, from within his own Labor Party as well as from the opposition Conservative Party. While some in Great Britain support adopting the euro, many feel that adopting the currency would not be in the country's best interest. Some feel simply that they would lose control of their economy, and consequently, their country. Others frame the argument in terms of a larger criticism of the European Union, which is often portrayed as overly bureaucratic by the British media. There are, of course, those who support the Euro, citing the long term political and economic benefits for Europe as a whole, in which Great Britain would share. And, of course, there are those who simply are not sure?a significant portion of the population."
Abstract This paper examines the contraversy surrounding the minimum wage which was implemented in 1938 when Theodore Roosevelt enacted the Fair Labor Standards Act (FLSA) to protect those who were being abused by the system. It provides a breakdown of the arguments for and against minimum wage increases such as that raising the minimum wage simply cuts off and eliminates low-paying jobs. It concludes with a discussion of the effect of the minimum wage on the economy and labor markets and a look to the future.
From the Paper "As stated in an earlier statistic, a person working full time does not make enough to live. Indeed full-time wages fall well below the poverty line. This issue correlate with welfare. The question often arises among those who are on welfare as to why they should work when working equates to a cut in pay. When people make more money on welfare which is designed to help those who are at the bottom of the economic barrel, it's obvious that minimum wage increases are not only important, but essential to the well being of the nation and the nation's economy."
Abstract This paper evaluates the cost of terrorism from a global perspective. The writer examines the cost of terrorism, specifically those of September 11th. He then evaluates other terrorist threats that currently exist around the world and defends the United States? current position on pre-emptive attacks on nations deemed supporters of terrorism.
From the Paper "Economic costs of terrorism pail in comparison to the loss of human life. However, economic hardships that have been sustained as a result of terrorism are very real as well. The cost of the Word Trade Centers and surrounding buildings was over 21 billions dollars. That cost ends up being paid by the various companies that insured the twin towers. As a result of such large claims placed against them, many insurers are raising rates. Specifically, high-risk facilities such as Seattle's Space Needle and the Empire State Building may face insurance premiums hikes of over 50%. This raises the aggregate cost of doing business for the firms and individuals who own those buildings. Therefore, as insurers raise rates for all commercial properties rise, we expect to see a reduction in expansion rates for new office buildings. It may be difficult for firms to find and pay for highly desirable urban office space in the near future if this trend continues."
Abstract The paper attempts to answer the following questions: 1) What are derivatives? 2) What purpose do they serve? 3) How are the risks calculated? 4) What methods of accounting are generally accepted? By best estimates, companies and banks around the world are involved in some 52 trillion dollars worth of financial derivatives. The paper explains these concepts and discusses their importance.
From the Paper "Since the concept behind derivatives is foreign exchange rates, then the concept really derives from 1971 when America abandoned the gold standard and fixed exchange was replaced by floating exchange. The floating exchange rate gave birth to the need for "hedging" (protecting assets against unfavorable movement). The need to hedge, in turn, gave birth to the concept of exchange rate futures, an idea that the "Merc" introduced in 1972. The "Merc" (Chicago Mercantile Exchange) first listed currency futures and the idea of selling and buying investment stakes in the future value of a nation's currency was born."
Abstract This paper explores the issues of different cultures in business by reviewing the experience of the China Husbandry Group. This company, headquartered in Beijing, opened a subsidiary in the United States. Due to the funding structure of the parent company by the Chinese government, the subsidiary was instructed to run the operation in accordance with the rules established in Beijing. The paper reviews these cultural and business differences which include hiring policy, salary, work conditions and hours. The paper concludes that the solution of creating an entirely new company instead of a subsidiary enabled the manager to meet the challenge of the business model, but as a universal moral solution, it was questionable.
From the Paper "To be hired by the China Husbandry Group in China (with the exception of the laboring positions) the prospective executive had to undergo a thorough investigation (including background checks and ?attitude checks.?) No women were allowed to be hired as executives. No one who did not speak Mandarin was allowed to be hired. No one who expressed contrary political views was allowed to be hired. Needless to say, such policies were contrary to the equal employment laws in the United States (Chen, Chen and Meindl, 1998, 34). This fact was pointed out continuously by the American manager, who was a Beijing citizen who had attended Yale and Harvard."
Abstract Both stock prices and bond prices in the securities markets in the United States tend to be volatile. The volatility of these markets creates risk for the investor. Further, the stock market and the bond market frequently respond differently to financial, economic, and political stimuli. This research compares and contrasts the stock market and the bond market in the United States from the perspective of the investor. The assessment discusses advantages and disadvantages of each class of securities. The paper includes graphs and tables.
From the Paper "Thus, while bond price volatility is in part a function of market interest rates, bond price behavior is also a function of coupon interest rates and term-to-maturity periods as functions affecting bond yield. Two approaches to yield determination for bonds predominate?current yield and promised yield. A bond's current yield is the amount of current income that a bond provides (annual interest) relative to its prevailing market price. Promised yield, by contrast, includes both interest income, price appreciation or depreciation, and total cash flow received over the life of the instrument in the bond valuation process. The promised yield is a function of the present value concept. Thus, the promise yield of a bond, in effect, is the internal rate of return of the bond (Gitman, Joehnk, & Pinches, 1995)."
Abstract This paper discusses the general aviation industry - its history and development. General aviation is defined as the segment of aviation other than commercial. The first section provides a brief overview of this industry, mentioning the issue of scarcity of facilities. It then discusses growth and number of the industry and this section includes charts and tables. Finally the writer examines how the general aviation history was effected by the 9-11 terror attacks.
From the Paper "From the mid 1980's until the early 1990's, general aviation as an industry was in decline. New piston aircraft manufacturing was down. Pilots flew less, and many maintenance shops closed entirely. The supply of avionics technicians dwindled as many transferred to other careers due to the poor economic prospects. Compounding the situation is the demographics of the aviation shops in existence. On average, small avionics shops (ten employees or less) employ technicians who are over the age of 43. Seventy percent of small avionics shop owners are over the age of 53. Organizations such as the Aircraft Electronics Association (AEA) have scholarship programs to encourage new entrants into the field. However, most who graduate will end up working for the commercial airlines, lured by salaries and options.2 "
Abstract The issue examined in this research is the impact of immigration on domestic labor markets in the United States. Specific interests of this research are the impacts of immigration on the employment opportunities for women and minorities. The greater part of this current research consists of a review of the literature relevant to the issue investigated. Included in this research also, however, is a proposed research design for an empirical investigation of the issue.
I. Introduction
A. Issue Examined: Effects of Immigration on Domestic Labor Markets.
B. Focus of Examination: Women and Minorities.
C. Presentation Plan.
II. Literature Review.
A. Globalization and Transnational Migration.
B. United States as a Destination Country.
III. Proposed Empirical Research.
A. Justification for Empirical Research.
B. Research Questions: 18 questions.
C. Period of Analysis: 15 years (1986 to 2000).
D. Data Type: Secondary.
E. Analytical Procedure: Regression Analysis.
IV. References.
From the Paper "In the contemporary period, more than at any time in the past, migration is a global phenomenon. In search of employment, higher wages, educational opportunities for themselves and their children, and to escape from persecution and violence, millions of people cross international borders each year. Over one hundred million people now live in a country other than that of their birth, and millions of these immigrants maintain their ethnic identities in their adopted countries (Weiner, 1996).
In industrialized societies on average, non-citizens now typically constitute more than five-percent of the population. These large and typically visible immigrant populations are a cause of concern for both governments and their citizens. These concerns lead to questions such as: Do immigrants benefit the economy, taking unwanted jobs and providing needed skills; or Do immigrants displace indigenous workers and burden public resources in their adopted countries (Weiner, 1996)?"
Abstract This paper examines how, faced with the worse economic slump in more than twenty years, President Bush is responding with a tax cut proposal that will adequately address many of the sources of the economy's woes. It evaluates how his plan calls for immediate actions to reverse the stock's market's downward spiral and to fuel consumer and business demand. It analyzes how Bush's plans represent a fair balance of benefits for the wealthy, middle income and low income households and how the negative short-term effects on the budget will be negated by the long-term prosperity generated by the economic stimulus package.
From the Paper "The key feature of President Bush's tax plan is elimination of the double taxation of dividends. The two-year bear stock market has seen losses of more than $7 trillion. These losses have devastated investment in technology startups because of the lack of an IPO-exit potential and have dramatically decreased the value of individual's investment portfolios and pensions. Currently, dividend income is taxed as corporate income to the business and as personal income to the receiver of the dividend, meaning that tax rates on dividends can run as high as seventy percent. These exorbitant tax rates reduce stock values, capital investment and savings. Dr. John Rutledge, a senior economist in the Reagan Administration and now president of Rutledge Capital, states that a dividend tax reduction would raise stock values by five to thirty percent because a cut would raise the after-tax return on dividend paying assets above that of other assets."
Tags: budget, portfolios, pensions, investment, income
