World economy

The mining industry in Latin America is one of the many extractive industries that constitute the export-driven economies of the global South, and to entertain the notion of abandoning these industries is both fiscally and socially irresponsible. Furthermore, the rise in leftist government regimes in Latin America has opened up a path for a more progressive approach to extractivism to rise to prominence, albeit, not completely abandoning extractivism in the traditional sense, this…

informal economy interestingly can be known as the black economy, shadow economy, informal sector or gray economy due to its diverse activities and driven motives . Scholars argue that the informal economy is hard to measure because of the difficulty in defining the activities. Layman’s term the informal economy is the set of activities purposely done to escape from government reach or regulations, and this includes criminal activities. Ukranian Ministry of Economy, define the informal…

different cultures; however these two countries are compared throughout this research with their economic systems and demographics of their state including some interesting factual statements of both countries. Diving into the general statistics of both economies including primary sectors of their GDP gives an idea of what country has better economic stability now and in the future. Services and/or industries play into the economic behavior and are shown along with popular businesses and global…

the market economy, centrally planned economy, and the mixed economy. Capitalism, which falls under the market economy, is an economic system where a country’s production, the circulation of goods and services for profits, are controlled by private owners. Capitalism allows citizens to own businesses and acquire wealth, therefore…

the differences in the rules amongst various countries, a common thread is that every country depends, in varying degrees, on other resources to successfully develop itself. A country cannot prosper without a strong connection with the rest of the world. Philosophers and economist have advocated an economic system based on a free market; what one may call economic freedom. To promote economic freedom, a society must maintain a government that recognizes an individual’s right to produce,…

It has made contributions to the way we live and function. As technology is being used more and more each day, we have come to a realization that it contributes to mass production and communication networking. Not only has it made impacts on our world socially but economically as well. Technology has created an impact on the social lives of people in society. One way in which it made an impact is that, it makes the social lives of many feel less limited than it would otherwise be. This means…

Government policy affects the economy in a variety of ways, but it is ultimately better for the government to have an active role in regulating and controlling it. Statistically speaking, the economy does better the more government regulation of it there is. Under the Obama administration, the economy has now more than quadrupled the number of jobs present from the Bush administration, and unemployment rates have…

If it does not change, it is probably because the government has taken specific actions to avoid it. Furthermore, much of the analyses today are focused on the field of International Political Economy (Cox 1981:126). The process of globalisation, the flows of capital, goods and people around the world, despite not being a new phenomenon, has dramatically increased in the…

The internet, while initially being created by the United States military has changed into a consumer based system creating the most competitive market the world has ever seen (Barbook, 2005). This competitive marketplace introduced has radically changed modern day capitalism with the growth of new and alternative economic models. These models largely being introduced in Web 2.0 and advancing into the current Web 3.0 and Web 4.0 (Aghaei, 2012). The internet has allowed consumers to have more…

Economic Literacy World War II assisted the United Stated to get out of one of its economic crisis. Three contributing reasons identified by Amott in the article The Postwar Economy Slows Down, discusses why the country was able to prosper. Dominance of the United States abroad, a time of peace among laborers, and a stable demand of services and goods by the government assisted the U.S. in maintaining a prosperous economy (1993, p. 26). When there was a change among the domestic and global…