Participatory economics

as a whole. That sounds great and rosy, but the truth of the matter is that prosperity of the global economy may come at the expense of prosperity of the national economy. In this sense, globalization is bad for the U.S. because it hurts domestic economic interests. Martin Wolf covers some of the main points of the disadvantages of globalization in his article in the Financial Times. Essentially, power and natural resources are limited. Globalization empowers developing countries, but because…

Adam Smith’s idea on self-interest in the market, is what we refer to as the “invisible hand” argument. Smith believed that there is an invisible force that motivates people’s behaviour, which leads to successful markets. One of the main premises of this argument, is that all individuals strive to earn a good living, which in turn allows them to support themselves and their families. In trying to pursue a good living, individual’s subconsciously make a social contribution – by creating a good…

Diamond published his book Guns, Germs, and Steel in which he offers the thesis of geographic luck contributing largely to the reason why Eurasian societies developed over other parts of the world. Diamond credits the Eurasian political, military, and economic superiority in the world not to their possible advancements in culture, intellect, or race, but rather by simply having geographic determinism on their side. Through analysis, Jared Diamond attempts to give the one reason explanation as to…

Emma Soffler Mr. Nolan 27 October 2017 U.S. History 11H-4 Document Based Question: What Caused the Great Depression? Isaac Newton once said, “What goes up must come down.” Although Newton uses this to explain the laws of gravity, the quote is fitting for many different events. The economy, for example, is a cycle which continues to rise and fall throughout history. In the year 1929, the United States’ economy prospered tremendously. The economy continued to expand, until there was no more room…

4. BUSINESS RELATIONSHIPS MANAGEMENT’S IMPACT ON COMPETITIVE ADVANTAGE Introduction to competitive advantage In modern global economy and globalised market it is of high importance to be competitive and ahead of your business rivals or competitors. Competitive advantage is (Warf, 2010. p. 559) “an improvement on the traditional theory of comparative advantage”. Sustainable competitive advantage is considered (Baaij, Greeven and Van Dalen, 2004) a cornerstone concept in strategy practice and…

their rights and is one of the few ways to bring about global environmental improvements. The free trade advocates believe that the limitations on other countries and using trade leverage should be shut down because it not only will dampen global economic expansion but also, in the long run, will reduce environmental protection. The underlying problem in this case is the continually narrowing gap of movement space that the WTO allows when it comes to environmental expectations, especially those…

INTRODUCTION Modigliani and Miller’s (1958) irrelevance theory of capital structure was a landmark research in the field of finance, leading to an increased interest in the corporate capital structure and its determinants amongst scholars over the following years. Essentially, Modigliani and Miller conclude that under certain assumptions, the market value of a firm and its capital structure are not related (Proposition 1). Additionally, they suggest that the expected yield of a stock share…

One of the biggest debates pertaining to criminology is whether or not people are truly responsible for their criminal actions. Throughout history, criminalists attempt to answer that question in order to find a solution to control crime. There are two dominant thoughts on the subject; the Classical School version and the Positivist School version. The Classical School version is based on the premise that crime is committed through free will and rational thought; leading to the conclusion to do…

1.0 Introduction The goal of this essay is to trace the strategic change and directions of the Virgin Atlantic. The Virgin Atlantic is one of the leading private enterprise in the UK. Its growth since inception, has been marked with fluctuating financial performance. In the last ten years however, the growth of the company has been inconsistence with the period between 2012 and 2015 experiencing poor financial performance (Hollinger and Wild, 2015). This led to strategic moves like…

Comparative Advantage Most people carry out economic concepts in their day to day lives without even noticing it. Comparative advantage is the economic principle in which a person provides a good for a lower opportunity cost than another person. Although it sounds confusing, this principle is applied by everyone from the small schoolhouse teacher to the big business C.E.O. In it’s simplest terms, comparative advantage is just being able to do something better or cheaper than someone else. So…