Saturday, May 23, 2020

Is A Wealthy Nation A Prosperous Nation - 1399 Words

In this paper, I aim to answer the question: â€Å"Is a wealthy nation a prosperous nation?† not only with my personal opinions, but with the help of many philosophers, economists, sociologist, and revolutionary socialists. I will be also delving into reasons why a country like America flourishes and thrives, while countries in Africa stay in persistent and unending poverty. Or why is it that Africa is so much poorer and so profoundly different to North America? There are many reasons why these two places differentiate so much in prosperity. Climate, as well where the country is geographically placed and it’s culture all take a place in the issue at hand. However, the main reason could be the ignorance of domestic leaders. Leaders who truly want to see their nation prosper and achieve wealth and happiness will make that happen. Many believe that a prosperous nation directly correlates with a wealthy nation. However, to achieve true prosperity, the health and happines s of the nation must be equally valued. My paper will introduce Adam Smith’s ‘division of labour’ and how it shaped social relations within and outside the factory, as well as his theory on the â€Å"Invisible Hand†. Furthermore, I will present Robert Heilbroner’s concept of the ‘drive for capital’ and how it simultaneously produces ‘wealth’ and ‘misery’ to analyze Upton Sinclair’s insights into the nature of industrial life in the late 19th and early 20th centuries. The division of labour is an economic concept,Show MoreRelatedThe Jungle By Upton Sinclair Essay2240 Words   |  9 PagesA wealthy nation is not a prosperous nation, as a nation can be prosperous without being wealthy. Wealth can be defined as capital or vice versa as having properties or resources and turning it into money. A country that is wealthy can have both rich and poor people living in it. There is an upper class, middle class an d lower class, which individuals are associated to. We all know that individuals in the upper class have more resources, materials, properties and more money than the middle and lowerRead MoreThe Period of the Great Depression and Political Issues in America1767 Words   |  7 Pageswar and a bureau was set up to pay an insurance policy for them that would be due in twenty years. The effects of America’s international economic and political isolationism in the 1920’s were still seen in our non membership of the League of Nations. We only sent observers to Geneva, Switzerland to check it out as investigators. Harding couldn’t completely stay out of international affairs because of the American-British competition over oil-drilling. Secretary Hughes finally negotiated a wayRead MoreAnalysis of Herbert Croly and Frank Meyer ´s Point of View Regarding the American Dream944 Words   |  4 Pageson the spiritual and intellectual aspect of one’s life. By having a political order with the sole role of protecting individual freedom, Meyer believes that we will prosper as a nation. To fix this illusion of individual freedom providing total equality, Croly, unlike Meyer, understands the importance of uniting as a nation with a common purpose. On the contrary, Meyer believes that â€Å"freedom cannot be defined in terms of the ends that a free person ought to choose, that freedom, which is the powerRead MoreThe Effects Of Global Economic Crisis On The Great Depression Of The 1930 S876 Words   |  4 PagesLiberalism generally believes that market-driven economies are better and more prosperous than those heavily regulated. If liberal states are wealthy, they tend not to want war to cause any interference. Contrastingly, it is often seen as liberalism as the only method or a gift to have, so they will not take ‘no’ for an answer. Liberalism can help us better understand world politics by assessing why policies between nations such as NAFTA are implemented. The liberal argument would say that transnationalRead MoreWhat Makes A Nation Wealthy? Essay1668 Words   |  7 PagesWhat makes a nation wealthy? Answering this basic question may not be as simple as it seems. Because we must first analyze what â€Å"wealth† is. This essay is going to cover Adam Smith and Karl Marx’s work and their views how the society works and how wealth is created. It is going to highlight the theory of â€Å"Division of labour† and how it shaped the social relations. Lastly Robert Heilbroner’s concept of â€Å"drive for capital† will be discussed and how it produces wealth and misery to analyze Sinclair’sRead MoreCinderella Man Analysis763 Words   |  4 Pages1920s to the New Deal set forth by Franklin D. Roosevelt. Cinderella Man eloquently depicts the events of the early 1900s. The 1920s was a prosperous time in our nation for most. Most people had a fairly easy time making money and paying there dues. Therefore, people were left with significantly more discretionary income. This is what made the 1920s so prosperous. With money left over, people usually chose to spend in on luxuries. In the movie, James Braddock was received a steady cash flow becauseRead MoreInfluence Of The Renaissance On Modern Western Society Essay1712 Words   |  7 Pagestime; in addition being the main producers of fine elevated their chances to conduct successful trading ventures. Venice was considered one of the largest centers of trade being a coastal city of the shores of the Adriatic Sea, which allowed for prosperous trade with what was then considered the Eastern world; the city was also well known for their quality in ship building as well which likely contributed to them being a large naval power in the region. Now due to fact that both city-states were twoRead More The Pro s and Cons of Free Trade Essay941 Words   |  4 PagesThe Pros and Cons of Free Trade Free trade is exchange of goods and commodities between parties without the enforcement of tariffs or duties. The trading of goods between people, communities, and nations is not an innovative economic practice. Nations are however the main element within a free trade agreement. By examining free trade through three different political ideologies: Liberal, Nationalistic, and Marxist approaches, the advantages and disadvantages will become apparent. ThesesRead MoreGermany is Responsible for the Outbreak of World War I972 Words   |  4 Pagesmillion in 1871 to 67.7 million in 1914 (Fulbrook 137). The continued growth in population led to sizeable increases in Germany’s manufacturing ability due to an abundance of newly oriented factory workers compared to that of other competing European nations such as France and Britain. As France and Britain experienced slow economic growth due to the use of older industrial technologies, Germany’s manufactured goods multiply by five times its normal output while Britain’s output merely doubled (FulbrookRead MoreGilded Age Essay760 Words   |  4 Pages the United States population and economy grew hand in hand, but what was going on behind the scenes for both these numbers to grow so prosperous. First, let us consider what gilded stands for; it is having a desired appearance, yet concealing something that is not so pleasing in appearance. So, the Gilded Age was a time in which the United States grew prosperous through means that did not reflect such positivity. One example, in specific, is the treatment of Indian Americans by the American government

Tuesday, May 12, 2020

Persuasive Essay On Racism - 1138 Words

It was during the first week of INT that I started to feel more in depth with the racism and its different terms. We talked in detail on intent, reverse racism, and white supremacy after watching few videos for each matter. It turned out that there are deeper meaning and context to these terms than the mere definition. A number of cases regarding intent have suggested that it’s solely up to someone’s motives if they are being racist or not. For instance, we talked in class about this one teacher who was bashed for letting a group of her students name themselves as something offensive. It was definitely something she wasn’t familiar with so she slid by, causing controversy for the parents and the society. But did the teacher deserve all†¦show more content†¦So why is it called reverse racism and not simply as racism? I’ve always believed that there can be equal racism on both sides before reading the â€Å"Reverse Racism Myths† online. The a rticle turned my beliefs upside down with just the two words, individual vs. institution. In fact, the word racism comes from the situation when one dominant race puts on oppression and benefits off that oppression in the other race. Some people might argue that affirmative action discriminates the white people, and it is thus an example of reverse racism. This is not the case because the goal of affirmative action is to fix the already-existing underrepresentation of people of color and to ensure that these people have the equal opportunities to be admitted and hired (Smith). For one thing, racism is the reason why Blacks are more likely to face police brutality, house or job discrimination, poverty, or high incarceration rate that the whites do not experience at the same level. Of course, individuals can be prejudice toward other race but that’s not close to saying it is racism. Being merely prejudice does not impact their lives or other people’s lives (Frederickson) . Racism is the parts that make a system in the society that puts one race at an advantage point. Simply put, white people are not oppressed and they win at everything socially, politically, and economically. Comedian Aamer Rahman half-seriously stated that â€Å"Black and Brown race wouldShow MoreRelatedPersuasive Essay On Racism1654 Words   |  7 Pageshas still not been accomplished. People get judged on their skin color and many other things all the time and it isn’t right. Not everybody of the same race, or religion, or sexual orientation are all the same. Racism is a horrible, horrible thing that many people in America experience. Racism and slavery go back many, many years ago. All the way back starting in the 17th century. Since then we have had the Trail of Tears during President Jackson’s presidency when he threw the Native Americans off theirRead MorePersuasive Essay On Racism1271 Words   |  6 Pagesthe options to chose our race. Yet we are still being ridiculed from what we are born with. Racism is one of many elements that in the United States of America affects our society. However, there is a hidden problem that promotes racism. It is the fact that a lot of people try to make themselves believe that racism doesn t exist. But unfortunately, it still does. Everyone knows about the problem of racism but don t realize that they are supporting the problem by discriminating against other peopleRead MorePersuasive Essay On Racism701 Words   |  3 PagesRacism Racism is an issue in America that has been growing, Martin Luther King was a famous black citizen for his bravery of black people as equals. We can respond to and eradicate racism only through a peaceful stand for the love for humanity. The call of Pope Francis to take â€Å" a clear stand for creative and active nonviolence and against all forms of violence† echoes the Reverend Dr. Martin Luther King’s dream of a nation without racism. Inspired by Dr. King’s concept of a creative and constructiveRead MorePersuasive Essay On Racism882 Words   |  4 Pagesword to me, eventually I have come to understand her intentions during that week. Little did I know that this would not be the last time I would endure a situation like this. ‘Subtle Racism’ in America is common in society. It can come from all sides, and can have as deep an effect as blatant racism. Subtle racism to me is shown from someone who may not consider themselves to be racist, and may see themselves as a supporter of all ethnicities, but expresses certain behaviors and phrases that canRead MorePersuasive Essay On Racism1018 Words   |  5 Pagesit s working at 7/11, always smelling like curry, or mocking us with our thick accents. Stereotypes have always been around, they have been used to make some funny jokes, but others have used it personally and criticize people with it. That is why racism is a big problem in this world with people using stereotypes to verbally attack people, thinking those things are true for every race and not getting to know people before judging them. My friends always turn to these jokes when they want to makeRead MorePersuasive Essay On Racism1317 Words   |  6 Pages Is America Racist? As a privileged white female in the United States, I don’t personally deal with any racism. But millions of Americans are impacted by racism on a daily basis. They are exposed to ignorant slurs and racial violence constantly. Some people say that not everyone is America is racist. That America as a whole is accepting and welcoming. If so, why did we elect a president whose immigration policies will limit entry of millions of non-white people into our country? How is itRead MorePersuasive Essay On Racism1926 Words   |  8 Pagesdifferent culture or has different skin color? Racism is the major issues today and it still exists in our schools, works, and society. Racism at the workplace is responsible for continuous mood changes, aggressive behavior, and have a bad feeling in the minds of the affected persons. This turn bad for the employer and the society. Everyone has right to do something so why do people become races. Today it was better than years ago but still, racism exists in the United States and other countriesRead MorePersuasive Essay Racism1958 Words   |  8 Pagesloose. We learned about racism in the past, but in 2013, but we never thought we would experience it. Racism is discrimination or discrimination against another race , from one that believes that their race is superior. One of the biggest debates in America is whether or not racism exist. Racism is still present in America because America has an unlawful justice system for minorities, President Trump is causing racial tensions, and the media is racially bias. There is still racism present in AmericaRead MorePersuasive Essay On Racism1752 Words   |  8 PagesRacism is contagious to this society. It has been a growing concern in the United States for many decades now, however, no major improvements are made by any political officials in reducing it. Many individuals of color are treated unfairly just because they are of pigment. Not too long ago, many individuals in the African American communities sparked out in outrage when individuals such as Michael Brown and much more were racially profiled by were brutally attacked by the law enforcers. Racism doesRead MorePersuasive Essay On Racism1839 Words   |  8 PagesThroughout America, racism is a very prominent topic that affects thousands of American’s. Although racism has been fought for many of years in America, Americans find themselves still talking about the social divide. The subject of racism is all over the news and has even made it’s way to America’s game, fo otball. The kneeling during the national anthem has been a very big controversy that many American’s are furious about. However, for black Americans, it is an outcry that should be heard. Many

Wednesday, May 6, 2020

Major Aspects if the Marketing Plan Free Essays

This three year marketing plan has been formulated to curb the negative effects on the perception about the McDonald’s Corporation of the larger community. Further, it is the intent behind the formulation of this plan to make positive use of all the negative publicity targeted towards McDonald’s by criticisms such as those raised by the documentary film â€Å"Super Size Me† and the book and film of the same title, â€Å"Fast Food Nation†, as publicity although negative brings with it the focus and spotlight of the media on the company and any efforts on the part of the Corporation to resurface as an advocate of healthy living will be publicized with as much fervor by the various media. The plan involves an operational as well as marketing shift in focus towards a more healthy life and a balanced diet while promoting healthy habits such as working out as well as encouraging the youngsters of the country to pursue higher education and save money for college. We will write a custom essay sample on Major Aspects if the Marketing Plan or any similar topic only for you Order Now Major Aspects if the Marketing Plan This plan is spread over a time span of three years, outlining the product, pricing, distribution and promotion strategies to be implemented and executed during this time. The plan takes into consideration that while the McDonald’s brand image is one of its greatest strengths, this strength is slowly waning away under the intense scrutiny and attention of the media towards the various criticisms launched against McDonald’s and thus it proposes a revitalization of the McDonald’s philosophy so as to focus on the youth and value a healthy lifestyle, healthy eating habits, smart choices and education. The plan also outline the structural issues that may arise during its implementation and execution, tactical initiatives to turn strategy into action and methods, means and measures for the evaluation and control of the marketing effort through regular marketing audits. The concentration on targeting the marketing efforts towards youngsters will mean a shift from marketing efforts targeted towards children in order to get to their parents’ pockets. This will also mean that the primary target market then will be between the ages of 18 and 35, whereas the secondary market will include other age groups as well. Situation Analysis Analysis of Internal Environment Since it is the world’s top fast food company in terms of sales, it is hard to believe that McDonald’s has only recently recovered from a severe and persistent downturn in sales. CEO Jim Skinner’s strategy for bringing the fast food giant back on its feet has been based largely on improving the quality of food instead of expanding rapidly and increasing the number of locations where McDonald’s is available. Furthermore, out of a total of almost 31, 000 restaurants in around 120 countries worldwide, 75% are being run by franchisees rather then by the corporation itself. In addition to improving food quality through upgrading of facilities, the McDonald’s Corporation has also been consciously attempting to decrease the number of company run outlets, with the plan of transferring ownership of 2300 locations to licensees by the year 2008. (McDonald’s Corporation Company Profile) Analysis of Customer Environment â€Å"With the successful expansion of McDonald’s into many international markets, the company has become a symbol of globalization and the spread of the American way of life† (Wikipedia). The ‘American way of life’ is fast paced, always on the go, technology driven and consistently changing; with divorce rates increasing and the number of single parent families on the rise. The world over, the number of women in the workforce is increasing year by year, contributing to the rise in families with both parents working. â€Å"Fast food restaurants differ from full-service restaurants in that customers generally order and pay before eating† because the typical fast food customer is in a hurry and demands a quick meal. The typical fast food consumer is between he ages of 18 and 35, with no children. (Fast Food and Quickservice Restaurant Industry) Analysis of External Environment According to Hoover’s profile of the Fast Food and Quickservice Restaurant industry, demand in the industry is driven by â€Å"personal income† and â€Å"demographics and â€Å"the profitability of individual companies depends on efficient operations, effective marketing, and the ability to provide fast service†. Also, large companies are at and advantage because they can efficiently reap the benefits of economies of scale, making money out of volume rather then big margins (Fast Food and Quickservice Restaurant Industry). The top competitors for McDonald’s are Burger King, Subway and YUM! Foods (McDonald’s Corporation Company Profile) although â€Å"fullservice restaurants; supermarkets; delis; convenience stores; snack shops (donut or bagel shops); cafeterias† and other companies that offer prepared food are all part of the competition (Fast Food and Quickservice Restaurant Industry). SWOT Analysis Strengths Being a multinational company with operations in over 120 countries of the world, McDonald’s global presence and its sheer size as an organization is a huge strength, enabling it to benefit from economies of scale and profit sanctuaries. Other then that, McDonald’s ability of adaptation to local cultures wherever it appears on the globe has enabled it to expand across borders, countries and continents; a feat made possible by the strategy of operating through franchisees and licensees. The other great strengths of McDonald’s are its brand image, brand equity and expansive financial resources. Weaknesses The one weakness of the McDonald’s Corporation is its inability to adapt to changing tastes. Like most big companies, McDonald’s is to an extent a victim of its own success, a giant that is slow to wake up to problems and challenges. Opportunities The opportunities for McDonald’s as a multinational fast food company lie in developing countries which are home to growing markets of fast food and in developed countries where adults remain largely untapped as a market for fast food. Threats McDonald’s faces the threat of immense competition from its top competitors; Burger King, Subway and YUM! In addition to this, threats are also posed by the issues raised in the book Eric Schlosser titled â€Å"Fast Food Nation†, the movie of the same name and the documentary film â€Å"Super Size Me† by Morgan Spurlock. Schlosser’s book alleges that McDonald’s among other fast food companies â€Å"uses its political influence to increase their own profits at the expense of people’s health and the social conditions of its workers† while also questioning McDonald’s practice of advertising tactics which target children. Spurlock’s documentary film, featuring himself as the participant in an experiment where for 30 days, he ate only McDonald’s food raises similar allegations, proclaiming that â€Å"McDonald’s food was contributing heavily to the epidemic of obesity in American society, and failing to provide nutritional information about its food for its customers† (Wikipedia) Analysis of the SWOT matrix In light of the SWOT analysis conducted above, it may be concluded that McDonald’s possesses the capability of overcoming the threats posed by negative publicity caused by the films such as â€Å"Fast Food Nation† and â€Å"Super Size Me† and various other social activists because it has access to the financial resources which would be required to curb this negative publicity. The only thing lacking is a specific focus of the management on this issue and its resolution. Developing competitive advantages McDonald’s can develop competitive advantages by becoming a socially responsible and aware organization, especially by actively supporting a cause which cancels or nullifies the impact of the aforementioned negative publicity. It is proposed that McDonald’s concentrate on social responsibility and public relations by supporting a cause which it can internalize into the organization. The proposed cause is the physical and mental well being of youngsters which includes leading healthy lives free from eating disorders such as obesity, anorexia, bulimia etc and a college education. Developing a Strategic Focus To fight the ongoing battle against negative publicity against McDonald’s it is suggested that the McDonald’s Corporation develop a strategic focus on resolving this issue and through this resolution pave the path for future development and growth of the company. It is proposed that McDonald’s create this strategic focus by concentrating marketing efforts towards youngsters between the ages of 18 and 35 rather then the McDonald’s trademark of the use of ‘ester power’ to influence children. Marketing Goals and Objectives Marketing Goals The goal of marketing according to this plan will be to use marketing communications with the intent of converting the negative publicity targeted towards McDonald’s into positive and turn it into an advantage for the company. Marketing Objectives The objective of the marketing campaign will be to nullify the negative perception regarding McDonald’s that it is contributing towards the spreading of the â€Å"epidemic† that is â€Å"obesity† and establish that McDonald’s is a healthy organization which believes in and values physical fitness as well as personal wellbeing and self esteem. Marketing Strategy The marketing strategy throughout the tenure of this plan will be to focus on youngsters and students, seeking to culminate the habit of working out and eating healthy, making smart choices and supporting education of the youth of the world. Primary Target Market The primary target market for McDonald’s is students and youngsters between the ages of 18 and 35. The secondary target market includes people of all ages who are looking for a quick, yet fulfilling meal as well as children who otherwise run away from eating and would rather play in the park then be home at meal times. Product Strategy McDonald’s will offer its usual, popular products that it is known for, however it will start printing nutritional content on the actual packaging of the product in legible font size, black in colour. However, the quantities of the contents will be reconsidered and changed according to the daily requirement of each by the human body to remain fit and healthy. Pricing Strategy McDonald’s will offer student discounts at its outlets for students living away from home, granted on products specially designed for students redeemable on showing student identity cards at the time of purchase. Distribution Strategy Distribution will be carried out in the usual manner through company owned and franchised outlets and kiosks. Integrated Marketing Communication Strategy The integrated marketing communication strategy will involve the extensive use of advertising and public relations to publicize McDonald’s effort of supporting healthy eating habits and making smart choices. Marketing Implementation The marketing strategy outlined above will be implemented through an extensive media, supporting PR plan and a massive revitalizing effort designed to convert the effects of the negative publicity brought on by issues raised in â€Å"Super Size Me† and â€Å"Fast Food Nation† by focusing on students and youngsters. Structural Issues The structural issues that will be faced during the implementation of this marketing plan may include employee resistance, inconsistencies between company run and franchised eateries and slow conversion from the past practices to the ones proposed in this plan. A major structural issue will be faced in shifting the marketing and operational focus on to young adults instead of that which was previously on children through advertising the McDonald’s toys given away with the Happy Meals and the famous Play Places. Tactical Marketing Activities The tactical activities will include a number of youth oriented programs, which will support healthier eating habits for both, those who eat less then is healthy as well as those who eat more then is healthy, smarter choices by young people and assistance with educational endeavours. Jobs at McDonald’s outlets will be publicized to be open for candidates who are studying at school, college and/or wish to save for a college education; nutritional content will be printed on the packaging of products and will de re-proportioned to be aligned with the requirement of a young healthy human body; public service messages regarding eating disorders such as anorexia and obesity will be funded; Club McDonald’s will be founded where youngsters with eating disorders and the will to take control of their situation will be provided with expert counseling, interaction with others youngsters facing similar problems along with the comfort of knowing that they are not alone. Evaluation and Control Since the goals and objectives of this plan focus on dealing with the negative perception regarding McDonald’s caused by such criticisms as posed by media such as â€Å"Super Size Me† and â€Å"Fast Food Nation†, the evaluation and control measures will also focus on measuring the impact of the marketing effort on such perceptions. Formal controls Formal controls will include the establishment of performance targets for each of the tactical initiatives proposed in this plan on regular intervals, ensuring that these targets are met, and if this is not so then ascertaining the reasons for exceeding or failing to meet these targets on the part of those held accountable. Informal controls Informal controls will take the form of feedback forums on the websites for each tactical initiative as well as the reviews of participants/member of Club McDonald’s. Implementation Schedule and Timeline This plan will span over a period of three years, after which the goals and objectives would have been met in the manner that is outlined in this plan. Each initiative will be timed according to the best possible situational conditions which are conducive the successful implementation of the initiative. McDonald’s will resurface as an advocate of healthy living, smart choices and education for all. Marketing Audits During the three year life span of this marketing plan, marketing audits will be conducted at regular intervals, that once after every quarter of a year meaning that there will be a total of 12 marketing audits conducted throughout the 3 year time span of the marketing plan. Bibliography Fast Food and Quickservice Restaurant Industry. Retrieved on Jun 15, 2007 Fast Food Nation. Retrieved on Jun 15, 2007 from: McDonald’s. Retrieved on Jun 15, 2007 from: McDonald’s Corporation Company Profile. Retrieved on Jun 15, 2007 ; How to cite Major Aspects if the Marketing Plan, Essay examples

Saturday, May 2, 2020

Working holiday free essay sample

Thank you for your letter dated 2 September enquiring about our working holiday scheme. We are glad to provide the information you need. Our department has been holding the working holiday scheme for the past 15 years and this scheme aims to provide an opportunity for young adults to work over seas. Our team will ensure that you have a memorable and pleasant experience. Please visit our website at http://whs. esdlife. com/ for more comprehensive information on our scheme with reference to the feedback of our previous participants. As an ordinary visit visa holder is not allowed to work in the selected country. , each successful applicant of our scheme will be issued a working holiday visa, which is valid for 12 months and the time spend out of the country is neglected. In addition, it will allow you to leave and return to the host country multiple times. However, there is a limitation that you can only work for the same company for 3 months for your permit. We will write a custom essay sample on Working holiday or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page You need not to be worry of the English skills as there is no language requirement for attending our scheme. To be eligible, you must be able to produce financial proof of availability funds to meet your living cost when staying in New Zealand, which is about NZ$4,200 and I am sorry to announced that no financial assistance is provided by the government. On the other hand, I would like to give you some advice on job searching. I suggest you try some seasonal jobs like fruit picking in farms and vineyards. You can not only stay close to nature, but also meet people in all ways of life. It will be a fresh experience as it is hard to be performed in Hong Kong. What is more, you have mentioned that you plan to work in New Zealand for half a year, so you are reminded to work for a new company by 3 months . For the application procedure, you may approach the relevant consulates in Hong Kong and an administrative fee of HKD250 will be charged. Lastly, there is an annual quota of 400 for nationals to take working holiday to New Zealand, please submit your application as soon as possible as no administrative fee will be charged for the first 50 applicants. Thank you for your interest in our working holiday scheme. Please contact us again if you have any further queries. Yours sincerely, Steve Petersons Steve Petersons Senior Immigration Officer

Monday, March 23, 2020

Brazilian Economy Essays - Public Finance, Austerity,

Brazilian Economy An Economy Recovering From Chaos. Brazil earned the reputation of being a "miracle economy" in the late 1960s when double-digit annual growth rates were recorded and the structure of the economy underwent rapid change. Since 1981, however, Brazil's economic performance has been poor in comparison to its potential. The country's dramatic reduction in output growth, which averaged an annual GDP growth of only 1.5 percent over 1980-93, reflected its inability to respond to the events of the late 1970s and 1980s. Some events that took place during this period were: the oil shock, increases in real interest rates, the debt crisis, and the resulting cutoff of foreign credit and foreign direct investment. These shocks, in combination with poor management of public finances and heavy state intervention, resulted in large fiscal deficits at state and federal levels. Even if the fiscal deficits were reduced after 1990, deviating policies generalized indexation, and exchange rate management contributed to keeping inflation high and increasing. Monthly inflation skyrocketed from 3 percent in the late 1970s to 50 percent in mid-1994. The country's income distribution, already poor, worsened drastically in the 1980s. Against these conditions, the success of the Real Stabilization Plan in effect since mid-1994, which has reduced inflation to an annualized rate of about 15 percent, stand out noticeably. Growth rates were satisfactory in 1994 and 1995 at 5.8 and 4.2 percent, respectively (Page 45-47). From Portugal's discovery in 1500 until the late 1930s, the economy relied on the production of primary products, such as sugar cane for exports. Portugal subjected it to a strict enforced colonial pact, or imperial mercantile policy, which for three centuries heavily restricted development. The colonial phase left strong marks on the country's economy and society, lasting long after independence in 1882. Significant changes began occurring only late in the eighteenth century, when slavery was eliminated and wage labor was adopted. Important structural transformations began only in the 1930s, when the first steps were taken to change it into a modern, semi-industrialized economy. These transformations were particularly strong between 1950 and 1981, when the growth rates of the economy remained quite high and a diversified manufacturing base was established. However, since the early 1980s, the economy has experienced substantial difficulties, including slow growth and stagnation. Nevertheless, the country still has the potential to regain its former dynamism. In the mid-1990s, it had a large and quite diversified economy, but one with considerable structural, as well as short-term problems. Socioeconomic transformations came about rapidly after World War II. In the 1940s, only 31.3 percent of its 41.2 million inhabitants resided in towns and cities. By 1991 its population had reached 146.9 million and 75.5 percent lived in cities, therefore creating two of the world's largest metropolitan centers ? Sao Paulo and Rio de Janeiro. The rate of population growth decreased for about 3 percent annually in the transition. By mid-1999 it had an estimated population of 166 million (Levine 200). The share of its primary sector in the gross national product declined from 28 percent in 1947 to 11 percent in 1992. Despite this reduction, the agricultural sector remains important. Although part of it is primitive and demanding, part is modern and vigorous. Brazil remains one of the world's largest exporters of agricultural products. In the same 1947-92 period, the contribution of industry to GNP increased from less than 20 percent to 39 percent. Its GNP per capita in 1999 was of $4,750 per year. The industrial sector produces a wide range of products for the domestic market and for export, including consumer goods, intermediate goods, and capital goods. By the early 1990s, it was producing about 1 million motor vehicles annually and about 32,000 units of motor-driven farming machines. On an annual basis, it was also producing 1.8 million tons of fertilizers, 4.7 million tons of cardboard and paper, 20 million tons of steel, 26 million tons of cement, 3.5 million television sets, and 3 million refrigerators. In addition, about 70 million cubic meters of petroleum were being processed yearly into fuels, lubricants, propane gas, and a wide range of petrochemicals. Besides, Brazil has at least 161,500 kilometers of paved roads and more 63 million megawatts of installed electric power capacity (Becker 88-90). Even with these figures, the economy cannot be considered developed. While the economic changes since 1947 raised the country's per capita income above US$2,000 in 1980, per capita income in 1995 was still only US$4,630. Growth and structural change have not altered significantly the country's extreme unequal distribution of wealth, income, and opportunity. Regardless of impressive rise in economic growth and

Friday, March 6, 2020

econs assignment Essay

econs assignment Essay econs assignment Essay An economist once said that most economic activities can be summarized as, â€Å"People respond to incentives. The rest is commentary† (Mankiw, 2008). This clearly highlights how vital it is the role of incentives in the field of economy. Incentive in short means the factor that benefits a certain group of people and encourages them to an option instead of other alternatives. The reason why people respond to incentives is because it benefits them and they often get more out of the same or lesser opportunity cost. Incentives can often be seen as a form of reward, resulting in a positive impact on people. Mankiw (2008), a renowned and experienced economist from Harvard University discussed the subject of his personal work incentives. He stated the worth of incentives that kept him working as well as the opportunity to work and earn some extra pay. In Malaysia, the Cooperatives and Consumerism Minister is attempting to pacify Malaysians by assuring them that the Government is trying their very best to maintain the fuel prices even tough global prices for oil are rising (The Star Online, 2011). If oil prices increase, prices for other goods will also increase as the same time and this would lead on a negative impact for consumers. This indirect incentive that the government is helping to lift is actually allowing better conditions for consumers. On a personal level, an example of incentive in our daily life is the usage of credit cards. Credit card is an important tool in today’s world with the incentives provided including low interest rates and longer term of minimal amount repayment. However, there are many stiff competitions between companies such as Visa, MasterCard and American Express offering the same service and the only way the companies can attract customers is with their incentives. Visa gives a percentage of the purchases as cash back from some cards; accrue points in reward programs from other cards that allow the customers to get merchandise for paying their debts on time (Ramachandran, 2009). Recently, there is a new scheme that allows young adults that are earning less than RM3, 000 a month to own their own home (The Star Online, 2011). These young adults could own homes costing from RM100, 000 to RM200, 000 with 100% loans. My cousin is a newly graduated doctor that soon to be finishing his house manship now could actually afford to get his own home. Before, he couldn’t afford the 10% down payment even after 2 years working. Since this new

Tuesday, February 18, 2020

Channel Tunnel (between UK and France) Essay Example | Topics and Well Written Essays - 750 words

Channel Tunnel (between UK and France) - Essay Example Apart from that it also has a significant role in both the International Union of Railways (UIC) and the Community of European Railways (CER). This channel is also popularly called as the â€Å"chunnel† because of its three-way tunnel encompassing rail connections. It connects at one end with Folkestone in England to Calais in France at the other one. After the treaty for the construction of rail link between France and England was signed in 1986, the consortium, which was responsible for carrying out the managerial tasks of this project, started to face severe problems. These problems were mostly based on fiscal (economic) matters. Apart from the money hurdle which was being faced with at the time, meeting the already set schedule and the most important of the lot, ensuring safety for the rails as well as the passengers traveling in them was a much bigger problem than the other ones. By 1990, many people started to have serious doubts whether this project would ever be completed. There was a do or die situation attached to this project and the authorities at the helm of affairs really had to do something solid to restore the confidence of people that was lost from them in this project. Channel Tunnel’s fire of 1986 is one classic example of the handling of fire regime within the tunnel and how the same should be tackled in the wake of another fire instance within the mega structure. When it became quite evident that this project was in serious jeopardy, Eurotunnel called upon the resources of Bechtel to play a bigger role in the accomplishment of what was left at that moment of time, a sheer dream. Bechtel’s involvement began in 1987.