Token economy

low-wage labor from new economy might lead to job losses in many developed countries. Secondly, We have to mention about the effect of globalization of the…

Determinants of migration Different factors affect migration which includes economic social and ecological consideration, which are affected by individual’s perceptions and behavior. This factors operate together in order to push and pull migrants (Makonnen, 2006) 4. Economic factors Economic factors are often regarded as the major motivation for migration. The main economic factors are the search for employment. Population pressure on land rural poverty, biased development policies and…

The government of UK spends money on Tesco which helps the company for growing in the competitive market to ensure that the standard of living of the people in the country remain high which assist the economy to go down during the recession. In return of that the government receives money from the taxes such as income tax, Ni tax and Vat which is from the general public. If the business of Tesco is not running at best of their ability because there can…

social media, and peer-to-peer software are enabling communication and organization in ways that are fueling the formation of a new collaborative economy. ‘Access over ownership’ is becoming the new consumption model and is changing the traditional economic system by expanding the volume of commerce and boosting purchasing power. The sharing economy can be defined as an economic model involving a peer-to-peer marketplace where goods and services are exchanged for a fee, barter or free. Within…

illegal activity. “ Between 1984 and 1992 the average salary in the informal sector grew by 10%, while in the formal sector the increase was only 3%.”(Rubio 805-816) In a greater sense, the growth of the Colombian economy is powered informal sector. Consequently, the elite, upper class and upper middle class are the main bodies behind this growth. Therefore, the poorer part of the community is left with scarce resources, uneducated and exploited. The greatest challenge, as a result, is security…

In The Wealth of Nations, Adam Smith describes a modern and efficient economy as one in which citizens have specialized skills that they are able to exchange for goods and services from others. Smith’s writings on this topic contributed to his title as the “Father of Modern Economics”, however, in addition to economics, Smith also wrote extensively about morality. The Theory of Moral Sentiments begins with a description of sympathy and how it contributes to a morally just society. It is evident…

The American workforce has changed drastically since the 1970s and between the ends of the 20th century. It seems like more of a transitional stage from a more industrial economy to a service based and consumer economy siphoning all of what used to be our strong industrial economy to other countries because products are made cheaper than they are in United States production. Places such as China, Southeast Asia, and South America are all responsible for this change over time in the American…

Economic Analysis of the Consequences of Corruption I. A Reduction in Investment and Capital Inflows Both Lambsdorff (n.d) and Tanzi (1998) are in agreement that corruption reduces the attractiveness of a nation to investors. Investors in this case should be understood to be both domestic and foreign. To this effect, Lambsdorff (n.d) affirms that corruption increases the risk factors of a nation, which are taken into account in determining the economic viability of a particular country as a…

Introduction: According to the economic theory, world’s goods and services can be separated in two big sectors: Tradable and non-tradable. In the old days, any item that could be shipped was characterized as a tradable good and anything that couldn’t be shipped, like services or heavy goods was considered as non-tradable. However, technology and global communications have seen a sharp growth the last years and that led to a different perspective of that theory. Nowadays, with the help of that…

residents as many of them attempt to create a better life for their families. A small slum located near the Mumbai airport, Annawadi highlights the juxtaposition of an Indian underclass and the growing economy of the country around them. While so many of these families, through an expanding global market economy, can see the benefits of globalization and capitalism, the potential upsides of these systems maintain out of reach as most Annawadians deal with the harsher realities of poverty,…