Socialist market economy

very information heavy reading. I did like the fact that it was shaped by critical theory because I was able to take what I had learned from the critical theory week to assess this reading as well. Kellner looks at the transformations in the global economy, culture, and politics within the context of the relationship between technological revolution and the global restructuring of capitalism. He also hopes to understand globalization in a dialectical framework between the progressive and…

The Athabascan Tar Sands: Why Tree Hugging is Good Business We are divided between the unethical and the irresponsible. We contribute to global emissions that are rapidly snowballing out of our control while trying to balance a precarious economy. Yet some feel that to benefit one would inherently be to the detriment to the other. Canada can not afford to view the world through the lens of this false dichotomy and reconciliation between these two sides is the only option. The exportation of…

In the past 300 years the world has seen a globalized market and unprecedented growth. While quality of life has skyrocketed across the world, new challenges have arisen. Serge LaTouche, a French economist, states that geometric economic growth cannot be sustained forever in his chapter “The Territory of De-Growth” from his book Farewell to Growth, calling for controlled economic growth to ensure a successful future. In the chapter “The Territory of De-Growth”, Latouche distinguishes the…

It postulates a continuous production function linking to the inputs of capital and labor which leads to the steady state equilibrium of the economy. Solow’s twist on the Harrod-Domar model is based on the law of diminishing returns to individual factors of production. Capital and labor go together in order to produce output. If there is plenty of labor relative to the capital, a little bit of…

shifting to more modern systems which are highly industrialized (Campbell). Modernization theory also seeks to tackle low economic development caused by the lack of investment. It proposes that, here, governments should intervene by investing in the economy, thus creating the infrastructure needed for future growth. The theory also offers that a foreign aid could help supplement a government’s investment in a ‘backward’ society. This attempt to modernize was seen as a way to start the process of…

21st century is a significant time frame for the entertainment industries in the South Korea. During the 1990s, South Korea was under pressure to liberalise their market, particularly the media industry (Shim, 2008). Eventually, the economic globalisation facilitated the blooming of its entertainment industry (Shim, 2008) by exporting their popular cultural to the world, which known as the Korean wave (Ravina, 2009). Entertainment industry is an important industry in South Korea, together with…

to countries or places outside their usual environment for personal or business/professional purposes’(UNWTO, 2014). The tourism industry has expanded rapidly worldwide over recent years and progressively become an essential element of the world economy. There are many reasons for the expansion of the tourism industry such as the vast improvements in transport technology and infrastructure, allowing more and more people from geographically diverse regions to travel and explore with greater ease…

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…

Mineral resources is a concentration of naturally occurring solid, liquid, or gaseous material in or on the earth’s crust that can be extracted and processed into useful materials at an affordable cost. Mineral resources are essential to support sustainable economic growth and our quality of life. Therefore, it is important to have sufficient supply of materials to provide for infrastructure, buildings, energy and goods. However, since mineral resources are nonrenewable natural resource, and…

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…