7.
Name Theory
Adam Smith Adam Smith, a Scot and a philosopher, after years of observing the world of business affairs came to the conclusion that, “Collectively the individuals in society, each acting in his or her own self-interest, manage to produce and purchase the goods and services that they as a society require.” His ideal of laissez faire economic later on sparked the idea of free market.
Karl Marx Karl Marx believed that capitalism would bring about instability, struggle, and decline, which is why he came up with a new economic theory. According to him, capitalism exploited the working force by being profit-oriented and paying workers extremely low wages. Marx’s economic theory, Marxism, is the system of socialism of which the dominant …show more content…
The head of the IMF is nominated by the European Union and has a board of 24 board members. IMF is funded by member countries, which pay a quota based on their wealth -- countries that have more money attain more votes. The IMF’s purpose is to help countries get back on a stable financial footing after World War II, to agree on rules about how countries deal with monetary matters, and to govern international trade and finance. Their current goals consist of providing countries emergency short-term loans and demanding reforms in a country to promote good governance and get rid of …show more content…
The 23 founding members were: Australia, Belgium, Brazil, Burma, Canada, Ceylon, Chile, China, Cuba, Czechoslovakia, France, India, Lebanon, Luxembourg, Netherlands, New Zealand, Norway, Pakistan, Southern Rhodesia, Syria, South Africa, United Kingdom and the United States. GATT’s purpose is to eliminate tariffs and other trade barriers between them, as well as to establish trade rules. GATT has met many times after its initial start to lower tariffs and make trade freer.
World Trade Organization There are 162 member countries since 30 November 2015. Some member countries are dually represented by the European Union. World Trade Organization’s purpose is to regulate trade in services, such as telecommunications and banking, as well as goods. It has set also set rules to protect copyright and intellectual property, such as slogans, industrial designs, communication technologies, and patents on drugs.
G8 The G8 is governmental political forum that consists of the 8 most powerful democracies -- Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States. The G8’s purpose is to discuss global problems and explore solutions that may tackle the problem. The G8 host the G8 summit, which is an annual meeting between the 8 powerful countries where they address major issues. The leaders of the country meet every year in a different member
Name Theory
Adam Smith Adam Smith, a Scot and a philosopher, after years of observing the world of business affairs came to the conclusion that, “Collectively the individuals in society, each acting in his or her own self-interest, manage to produce and purchase the goods and services that they as a society require.” His ideal of laissez faire economic later on sparked the idea of free market.
Karl Marx Karl Marx believed that capitalism would bring about instability, struggle, and decline, which is why he came up with a new economic theory. According to him, capitalism exploited the working force by being profit-oriented and paying workers extremely low wages. Marx’s economic theory, Marxism, is the system of socialism of which the dominant …show more content…
The head of the IMF is nominated by the European Union and has a board of 24 board members. IMF is funded by member countries, which pay a quota based on their wealth -- countries that have more money attain more votes. The IMF’s purpose is to help countries get back on a stable financial footing after World War II, to agree on rules about how countries deal with monetary matters, and to govern international trade and finance. Their current goals consist of providing countries emergency short-term loans and demanding reforms in a country to promote good governance and get rid of …show more content…
The 23 founding members were: Australia, Belgium, Brazil, Burma, Canada, Ceylon, Chile, China, Cuba, Czechoslovakia, France, India, Lebanon, Luxembourg, Netherlands, New Zealand, Norway, Pakistan, Southern Rhodesia, Syria, South Africa, United Kingdom and the United States. GATT’s purpose is to eliminate tariffs and other trade barriers between them, as well as to establish trade rules. GATT has met many times after its initial start to lower tariffs and make trade freer.
World Trade Organization There are 162 member countries since 30 November 2015. Some member countries are dually represented by the European Union. World Trade Organization’s purpose is to regulate trade in services, such as telecommunications and banking, as well as goods. It has set also set rules to protect copyright and intellectual property, such as slogans, industrial designs, communication technologies, and patents on drugs.
G8 The G8 is governmental political forum that consists of the 8 most powerful democracies -- Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States. The G8’s purpose is to discuss global problems and explore solutions that may tackle the problem. The G8 host the G8 summit, which is an annual meeting between the 8 powerful countries where they address major issues. The leaders of the country meet every year in a different member