International Marxist Tendency

When discussing the influences on modern economics, the concept of “rent seeking” has become a major source of study. The term itself dates back to 1974 in an essay written by Anne Krueger. For economists, rent is a return generated in excess of what would be typical for market competition and above normal profit gains. It follows that, rent seeking is the act of gaining advantage or privileges from entities in power, on trade outside normal competitive market forces, such as through the means…

Air pollution is a serious environmental problem around the world especially in china which is serious. Over the past few decades, the environment has been greatly reduced due to the rapid population growth and the industrialization and urbanization process of harmful pollutants such as total suspended particulates are discharged from all those harmful pollutants. The impact of air pollution on public health in Beijing also limits the future expansion and success of the city. Pollution is…

The U.S.-Canadian Magazine Dispute was one of the prominent trade disputes in the modern era of globalization that formed part of our collective memory in which the implications for cultural concerns took precedence. It represented something important to the government of the day and was one of the several issues that were undertaken in the name of protecting local culture from globalization. The dispute stems from the influx of foreign magazines in the Canadian market with a, particularly high…

Paul Krugman’ essay describe some aspect of the economic system that we live in. The essay points out every details that matter in the world of economic. In his essay, he approaches Adam Smith’s admiration for the free market, the critics of the free market, the role of law and regulation in the economy, the role of unforeseen and Keynes’s theory of counter-cyclical stimulus. Adam Smith is the father of capitalism and he wrote the book “The Wealth of Nations”. There some parts of the book talk…

Background Germany is Europe's largest economy and fourth place in the gross domestic product and the fifth GDP (purchasing power parity) in the world. Germany is one of the founders of the European Union and the euro area. [1] The economic position of this country in the world after the industrial revolution and its formation simultaneously has been named as a leading and innovative country as well…

3) Compare and contrast Thomas Friedman’s vision of globalization with Amitav Ghosh’s explanation for why the late 20th century religious extremists he considers “are so violent [and] so destructive.” Friedman visualizes globalization as complex and not an easy topic to grasp. Throughout his work he uses anecdotes and travelogues to show how far-reaching the impact of globalization is on the most distant civilizations of the Earth. Friedman believes globalization is necessary so that everyone…

In his book, Economics in One Lesson, Henry Hazlitt (1946) told a simple, yet thought provoking, story about a little town and a broken window. In this story, a baker’s window is broken by a young boy who threw a brick through it. Then, after a crowd has gathered to gaze upon the baker’s misfortune, the crowd mentions that at least the broken window created a new job. Obviously, if the boy had not broken the window, the glazier would never have gotten this job opportunity to fix the window.…

context of an ”internal embargo” in the current socialist economy. In this manner, the “external embargo” by the United States that is now unraveling due to agreements between president Obama and Raul Castro to end the embargo. In this mode, the international connections between the U.S. and the increased privatization of the professions (ala. Internet companies) in Cuba are the main issues of the post-embargo era: “Among the necessary changes would be opening the professions to private…

In the chapter 9 “The Europe to come”, Perry Anderson talks about the “New Europe” that is emerging because of the collapse of the Soviet Union, Treaty of Maastricht and the reunion of Germany. “For the first time since the war, Europe is living in anticipation of large but still imponderable changes to the part that has stood for the whole” (p. 126) However, in author’s view the end of communism was the main event that caused the others and it was supposed to change the whole concept of…

Moreover, as people lack jobs, they begin to perceive low quality items, as acceptable. This new perception can be great or bad news for international businesses, depending on their products and their prices. Those international businesses which tend to be bring products into the new market (country) that are cheaper than their domestic items, will be secured for business as their products will become more appealing to the consumers and less competitive than the native, Australian ones. On the…