Abstract This essay examines the role of multinational corporations in globalization. It also looks at the way multinational corporations take advantage of free markets and open world trade. Globalization is examined in terms of its impact of poor and developing nations, as opposed to developed nations. The role of corporations in terms of sustainable development is also examined.
Tags: multinationalcorporations, globalization, development
Abstract This paper discusses the supply and demand simulation for an Economics for Business course. The simulation utilizes the example of the apartment industry in the fictional city of Atlantis. Chiefly, the supply, demand, and equilibrium within the 2 bedroom housing market are examined in relation to the market. The simulation is further complicated by the introduction of a price ceiling to demonstrate how market forces can be artificially manipulated.
From the Paper "The simulation uses the example of a fictional city, Atlantis, to demonstrate the impact of market forces in the 2 bedroom housing market. In the housing market there are many forces that affect supply and demand; some natural, some artificial. The supply and demand of 2 bedroom units in Atlantis is affected by both natural and artificial forces. The natural forces affecting supply and demand in the simulation were the natural influx of people into the city which, those people needing affordable housing caused a greater demand of 2 bedroom units and a temporary shortage until supply caught up with demand. Another natural force affecting supply and demand is housing preference. In Atlantis the example was given that the local population, regardless of price of 2 bedroom units, began to prefer single-unit, free-standing houses."
Abstract This paper is a book report on "The Warren Buffett Way" by Robert G. Hagstrom Jr., in which the author sets out to analyze Warren Buffett's investment strategies. The paper attempts to show why Buffett has been successful and perhaps how others can emulate him to the same end. The paper discusses Buffett's investment strategy from observations of his behavior over a period of ten years.
From the Paper "Warren Buffett is a financier rather well-known because of his many pronouncements on financial issues and also because of the many companies he has headed or guided in some way. In the book on Buffett by Robert G. Hagstrom Jr., the author says in the subtitle that Buffett is the "World's Greatest Investor," and the author then sets out to analyze Buffett's investment strategies and to show why he has been successful and perhaps how others can emulate him to the same end. Such an effort is ongoing in the investment world in any case as other investors try to follow Buffett's lead and to get ahead of the curve instead of remaining behind it. Hagstrom notes that he knows Buffett but did not consult him during the writing of this book."
Abstract This paper presents a discussion of economic reform in post-Soviet Russia and the prevalence and impact or organized crime that has continued to grow with the market economy there. Billions of dollars have left the former USSR; criminals have infiltrated most institutions and control approximately half of the national economy.
From the Paper "Organized crime thrives in particular environments, as in post-Soviet Russia's capitalist economy of administrative ineffectiveness and inefficiency. For example, Russian businesses have required operation licenses from the state, as opposed to just registration, as in Western Europe. Bottlenecks have promoted bribery with officials refusing to process licenses, on demand, in danger. In much greater ways, full-fledged crime involves a large sector of the Russian economy, and its capital. A weaker central government and adjustment to a market economy promote increased criminal activity. One sees remarks on Soviet conditions having made a Russian culture of 'cheating' as the only way to advance, or obtain housing, goods."
Abstract During the 1970s people in Canada (and elsewhere) lost faith in Keynesian economics, laying the groundwork for the decline of the Keynesian welfare state, and the rise of neo-liberalism. Neoliberalism favoured the unfettered economic power of private property, and the rise of neo-liberalism signaled the beginning of the globalization of the world economy. This change was therefore a dramatic and important shift, which continues to impact our world profoundly today. This essay examines the reasons for the loss of faith in Keynesian economics in the 1970s in Canada.
Abstract This document discusses two macroeconomics questions relating to the Federal Reserve and inflation. The paper examines the Federal Reserve by its general structure and then through its monetary policy, and control and oversight thereof. The paper then examines inflation in relation to monetary policy as well as to the effect of unions upon inflation in that they are not the only cause of inflation but one of many potential causes.
From the Paper "The Federal Reserve is the central banking authority of the United States. The Federal Reserve System was created with the Federal Reserve Act of 1913 with idea of centralizing the control of the monetary currency of the country (Cleaver, 2004, 102). In that sense the Federal Reserve is a centralized system of monetary control. However, because of its structure, the Federal Reserve acts as a decentralized regime. The Federal Reserve consists of a Board of Governors of the Federal Reserve System, the 12 Federal Reserve Banks, the Federal Open Market Committee, the Federal Advisory Council, and the Consumer Advisory Council as well as several thousand member banks that form the nexus of the Federal Reserve System (Cleaver, 2004, p.102-03). "
Abstract This paper addresses the question whether or not governments should mandate the shift to biofuels. To address this issue, the paper discusses various related issues such as the role of governments in the expanded use of biofuels. The author argues in favor of governments mandating the shift to biofuels because of their authority, influence, clout and moral responsibility towards controlling and regulating the challenging shift to biofuels.
Outline:
Introduction
Biofuel Defined
The Role of Governments in the Expanded Use of Biofuels
Ecological & Economic "Ripple Effects"
Further Consequences to Mass Shift to Biofuels
Arguments For/or Against Mandating the Shift to Biofuels
Summary
From the Paper "The impact of biofuel is extensive. With biofuel costing less than fuel derived from traditional sources (Matthews, 2007), their production and use allow countries to save in their petroleum imports and strengthen their energy security by becoming less dependent on foreign oil. Biofuel is also environment friendly as these fuels do not release toxic gas that lead to global warming and greenhouse effect. The production of biofuel also creates income and labor opportunities especially in developing countries (Matthews, 2007; Abano, 2007). This could subsequently lead to poverty alleviation and food security as more people will have jobs and money to buy food (Northoff, 2004). As the production of biofuels can be tailored to the environment of different countries, its production can be cost effective given the local sourcing of raw materials. Similarly, this diversifies agricultural and forestry production for use in a lucrative industry such as alternative fuel production (Northoff, 2004).
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Tags: bioenergy, bioethanol, biodiesel, Philippines, Brazil, UN, energy, agriculture
Abstract This paper explains the harmful effects of illegal immigration on the United States' economy. The author presents evidence to support his claim that illegal immigrants affect the economy in a negative way. It then suggests ways to limit those effects and describes the most effective ways for the government to deal with this ongoing problem.
From the Paper "One of the many ways illegal immigrants harm our nation is by using our government services. Each year, more and more undocumented aliens are coming to our country to get free education, health care, protection (fire and police departments), and other services, such as ESL (English as a Second Language) without paying taxes. It is estimated that eighty-six percent of all school-aged illegal immigrants attend public schools (Huddle 76). Undocumented foreigners also make up seventeen percent of all inmates in prison, costing us money to pay for their keep (Elsner). This would not bother me if these immigrants were paying for their services."
Abstract This paper explains that no aspect of the U.S. economy has remained unchanged during any given war. The author points out that the current Iraq war has positioned itself to possibly be the longest in U.S. history and hence the most expensive. The paper relates that, with more than 1 million U.S. troops in Iraq, the cost of long-term medical care and disability benefits will continue for years after the war. The paper underscores that post-war occupation and reconstruction, an inevitable factor in this conflict adds an even higher cost to the war. The author concludes that, in addition to direct costs, the Iraq war is destabilizing the economy by causing increasing oil prices, uncertainty in the credit market, inflation created by a greater demand of economic goods and services, and an increasing need to pay for the war with borrowed dollars.
From the Paper "With the increased costs of war comes a hefty interest payment on the national deficit. Joint Economic Committee (JEC) Chairman Sen. Charles E. Schumer, JEC Vice-Chair Rep. Carolyn Maloney , released a new report exposing the hidden costs of the war in Iraq. The Joint Economic Committee report entitled, "War at Any Price? The Total Economic Costs of the War" details the high hidden economic costs of the war in Iraq beyond the direct budgetary appropriations, including interest costs of borrowing these funds, lost investment, long term veteran's health care, and oil market disruptions."
Tags: world war ii, vietnam war, subprime oil uncertainty
Abstract The paper states that it is not complicated to find some globalized places such as airline terminals, international hotels or CNN business news revealing the effects of globalization and its repercussions on our understanding of culture in the modern world. The paper relates that through the growing of global interconnections and the processes of ideas and global goods crossing national borders, cultures fuse across the globe. The paper also discusses the presence of English as an international language, and a homogenization of culture. The paper confirms that, culture is a set of values and practices characterized by its particularity, which nevertheless needs universal criteria as a reference to justify this particularity. It is also crucial to define culture as an "encompassing" concept and to keep in mind that it is difficult to know what is cultural.
From the Paper "In addition, a shared global culture is also relevant as a global dissemination of an American or Western culture. Indeed the processes of globalization are providing fuel for a cultural imperialism, that is to say a global culture liable to be a hegemonic culture. Thus the assertion of a shared global culture seems to be linked to what Friedman describes as "the increasing hegemony of particular central cultures, the diffusion of American values, consumers goods and lifestyles" (Friedman, 1994: 195). The diffusion of dominant standard icons and references such as MacDonald's, Coca-Cola leads to think about an obvious Americanization. In a word, cultures are both confronted by a global dominance of the western culture and by the practices of global capitalism. The result is probably a decrease of cultural differences: a process which undeniably worked to the advantage of the USA and others Western nations. A striking example of this tendency of cultural imperialism is the United Nations Educations Scientific and Cultural Organization's call for a "new world information and communication order" and its politics on global culture."
Abstract The paper examines the causes of inflation and how inflation impairs economic efficiency by distorting price signals, discouraging foreign trade and affecting businesses' total output. The paper concludes that one apparent cure for this disease is a good understanding of the causes of monetary inflation.
Outline:
Causes of Inflation
Effects of Inflation
Conclusion
From the Paper "Yet another cause of inflation is an excess of spending in the economy as a whole. It is when people, groups, business, government, and foreigners all together demand or try to spend more than the economy could produce at full employment. Prices will be bid up in this case, and until the excess demand for goods and services is reduced or the capacity of the economy to produce is expanded, price levels would continue to rise (Wilson, 1982). Once again, monetary inflation could be a cause of excess demand in the economy as a whole. When there is an increase in the amount of currency in circulation, people in general would try to purchase more goods and services than before, and unless this excess demand is met adequately by excess supply, inflation would result."
From the Paper "Nigeria's situation is rather typical of contemporary African nations, developed by a strong tribal tradition in a curious mix with the Western culture imparted by colonialism. Public health reflects this curious malady. Medicine in Nigeria was once primarily the job of tribal "medicine men" (Motherland Nigeria 1). Recently, though, Nigeria has developed a modern, Westernized, health care system for the purpose of improving health outcomes of its citizens."
A look at the similarities and differences in the economic and political reforms carried out by the (former) Soviet Union and the People's Republic of China.
749 words (approx. 3 pages), 4 sources, 1999, $ 26.95
From the Paper "Both the Chinese Communist Party and the Soviet Communist Party were founded as Marxist revolutionary organizations dedicated to ending the oppression of the proletariat by overthrowing capitalism worldwide, establishing the dictatorship of the proletariat, and eventually, a classless society. Of course, neither the Chinese nor Soviet Communist Parties have achieved a classless society, indeed, Party Members are among the elite. As Party Members formed the upper-echelon of Chinese and Soviet society, and as top Party officials occupied the most elite positions in society, each Party began to lose its revolutionary zeal. The moderation of the Communist Parties was evidenced in the Soviet Union by Nikita Khrushchev's destalinization program, and in China by Deng Xiaoping's victory over the radical, Maoist ?Gang of Four.? Reform has become the most significant trend in China and Soviet Union since 1980. In the Soviet Union, the reform effort has been marked by both significant economic and political reforms. In contrast, China has progressed significantly with economic reform, yet has not undergone political reform."
Tags: china, comparative, politics, russia, soviet, union
A position paper arguing that the Clinton Administration's refusal to recognize a 'right to food' is entirely inconsistent with its recognition of economic and social rights.
1,410 words (approx. 5.6 pages), 6 sources, 2000, $ 46.95
From the Paper "Among various scholars? enumerations of particular human rights, the fundamental rights listed may be classified as either political and civil rights or economic and social rights. Political and civil rights are negative rights, which are typically satisfied by the mere absence of constraint or harm. In contrast, economic and social rights are positive rights, which constitute an affirmative claim to certain goods and services in society. Human rights have traditionally been considered, by definition, those rights that are universal in nature. Justifying economic and social rights has been problematic because not all goods are attainable. The provision of many economic and social goods is dependent upon a society's production possibilities, which in many nations are too inadequate to provide for basic needs, and therefore deny the universal possibility of fulfilling such rights. However, consideration of the duties and obligations of actors in a global economy reveal that economic and social rights are, in fact, justified. Mr. Bush and Mr. Reagan's terming of such rights as mere "goals" or "objectives" should not be restored; the Clinton Administration's termination, by policy, of the distinction between economic and social rights and political and civil rights represents a moral movement forward. However, the Clinton Administration's refusal to recognize a "right to food" is entirely inconsistent with its recognition of economic and social rights. "
Tags: american, economic, hunger, right, social, states, united, world
Abstract The New Keynesian Perspective
The Neoclassical Perspective
The Monetarist Perspective
The implications of Rational Expectations
The Lucas critique
The Phillips Curve
Conclusions and qualifications
From the Paper "There is substantial uncertainty about the effects of macroeconomic policies and the various ways in which the schools of thought have tried to present, what they seem to believe is the key to any equilibrium or trade-off created within any given theory. One of the reasons why the effects of macroeconomic policies are uncertain is the interaction of policy and expectations. How a policy works depends upon current variables and its affects on "expectations" of the future. Macroeconomists usually solve their models under the assumption of "rational expectations""
