Essay on Shift

1189 Words Nov 21st, 2013 5 Pages
In this 21st century, we have already entered into the era of post modernity and post industrialism. Today’s World is witnessing the unprecedented and unforeseen changes in every walk of life, thereby presenting a scenario of chaotic and bizarre changes. Changes in different sectors of society ranging from economy, society, politics, family and culture are so multi-directional that at the surface level, it becomes very difficult to decipher a meaningful and coherent picture from this jungle of changes. Sometimes this scenario leads one to perceive World as a dehumanizing society. But such despair is unwarranted, for it is so more because of its lack of proper management and proper knowledge about it. In fact the present day post-industrial …show more content…
Those are very important questions, but most of the time both sides of the issue are not presented in a balanced way in the mainstream media. Instead, most mainstream news articles tend to trash cash and talk about how wonderful digital currency is. The rules of global trade forbid countries from artificially boosting exports and curbing imports by manipulating the exchange rates of their currencies. But for many reasons, policymakers have been wary (more wary than presidential candidates, anyway) of pressing cases against abuses. That reluctance may be coming to an end, however, as the global recession slouches on and the shadow of chronic unemployment looms over industrialized economies. What explains that traditional reluctance to pursue currency abuses? For one thing, more is typically at stake in bilateral relations than commerce. For another, some groups in the “losing” countries benefit from currency manipulation—Country A’s exporters’ unfair advantage translates into lower prices for consumers and higher profits for retailers in Country B. Besides, economists argue, currency manipulation may determine which industries flourish, but it should not have much effect on the total number of unemployed in the long run. Last but not least, policymakers sympathize with some motives for currency manipulation—in particular, for building nest eggs of foreign currency to protect against economic (and military) shocks and for providing income

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