Economy

The great Reverend William Lawrence of Massachusetts once said, “there is a certain distrust on the part of our people as to the effect of material prosperity on their morality.” In Mohandas Gandhi’s speech, “Economic and Moral Progress,” Gandhi’s focal point is differentiating between the monetary growth of society and the chastity that one embodies. Throughout the course of time, mankind has proceeded to tie itself to the concept that our progression and prosperity as human beings in the field…

space demand. This industry ranks third among the 14 major sectors. 1.1.1 Growth drivers The factors which are driving the industry are: • Urbanization • Growth in Tourism • Policy Support • Easier Financing • Epidemiological Changes • Growing Economy 1.1.2 Challenges The Challenges face by the industry are: • Lack of clear…

Even though FDI location is influenced by the firm behaviour (a microeconomic factor) as the reasons of its location, that is whether it is resource seeking, market-seeking, efficiency-seeking or strategic asset seeking; the main decision is in fact taken on the basis of economic geography, which is a macroeconomic decision as it takes understanding of country-level characteristics (Popovici & Calin, 2014). According to them, the theory enlightened the success of FDI among countries based on the…

Dissatisfaction for government, along with perceived threats, had previously led to military interventions in Latin America prior to the 60s. However, following this and into the 70s, a new form of the intervention began taking place that differed from those before. As defined by Guillermo O’Donnell, an Argentine political scientist, the new military interventions were referred to as bureaucratic authoritarian regimes. Bureaucratic authoritarian regimes were systems of power in which the…

Behavioural economics employs insights from psychology experiments to help explain examples of economically irrational behaviour, when dealing with consumer theory. The two most prominent ‘irrational’ preferences are reference dependence, and loss aversion. Although it is a fairly recent development, there have still been many papers written about behavioural economics; such as ‘On the Value of Incumbency: Managerial Reference Points and Loss Aversion,’ ‘The Forward-Looking Competitive Firm…

industries with international tourism accounting for 9% of the total GDP and one in every eleven jobs are related to tourism (Meleddu, Pulina, 106, 67). However, tourism by itself leads to various negative externalities on the environment, socio-economy, and local culture (Meleddu, Pulina, 106, 67). For this reason, ecotourism is important and is slowly gaining momentum. Ecotourism can be subdivided or classified into various categories such as sustainable tourism, scientific tourism, nature…

involve any fraudulent situation. The concept of capitalism is base on profit and market exchange where the major means of production are owned by individuals. This would be seen as the same believes that libertarians have. This is because capitalist economy is base on individuals making there own profit without the government interfering. Even though this is the concept of capitalism the government has been getting there hands so involve in everything that companies do now a days, that they…

The Unreachable Goal “As long as poverty, injustice and gross inequality persist in our world, none of us can truly rest.” -Nelson Mandela Middletown: A Study In American Culture, by Robert S. Lynd and Helen Merrell Lynd, dives into the their 18 month series of studies focusing on a conventional small american city, based on Muncie, Indiana. The studies focused on the social structure, norms, and economic inequality within the city’s working and business class. A common theme found within…

Instead of investing in the ailments and trying to improve there were major tax cuts, spending cuts, removing authority, and simply an attempt to cut down on government. These trends show more of a focus on the economy and the private sector, rather than a focus on the service of the people. According to polls this was caused by the bureaucracy being lazy and incompetent (150). Instead of attempting to possibly fix the problems within the government at all levels…

who wish to become professional tour guides? Background: Tourism is one of the leading sectors in many of the world’s countries such as France, United States, Spain and China. Tourism helps in improving the country’s economy, here in the UAE depend on tourism and it helps the economy improving too. Dubai is one of the leading emirates in tourism earning 27% of its GDP from tourism receipts in 2013 (Rogers, 2014). Tour guiding is an important profession worldwide so it is essential to have…