Key Social and Economic Data Unemployment (% in 2014) Life Expectancy Annual Growth Country (% change in real GDP) 2014 2014 Male Female China 73.4 77.7 7.3 4.1 Poland 73.5 81.5 3.4 12.3 0.6 5.2 Russia 64.7 76.6 Slovenia 74.4 81.9 3.0 13.1
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- Members of some market-oriented and command economies seem to pity or look down upon people living in traditional systems. These individuals say that traditional cultures are backwards, underprivileged, suffering, and living in the past. Armed with such beliefs, many “modern" societies dedicate themselves to introducing their lifestyles, technology, and economic systems to the more traditional groups. While some traditional economies embrace the opportunity to grow and "evolve," others do not. People in some traditional economic systems are not interested in changing. They are happy to live much as their past generations have lived, they enjoy being part of a very close-knit community, and they respect the traditions and beliefs of their ancestors. Questions: 1. Should market and command governments encourage people in traditional economies to adopt their ways? 2. Do these traditional systems need help or does outside assistance do more harm than good for these societies?The general argument that an empire's ascent will be described by an S-shaped curve with a plateau or decline tacked on at the end is relatively easy to demonstrate when territory is the means of expansion. Gilpin acknowledges, however, that political and economic expansion are more likely to be the goals of the modern states that have defined the system for the last several hundred years. Explain to what extent you think this trajectory (the S-shaped rise, plateau, and decline) will continue to matter.Romer’s (1986, 1990) approach to endogenous growth laid out a model which appeared to show that there were increasing returns to scale from technology and the accrual of savings to this technology. At a firm level, this seemed to imply that monopolies within a country would emerge. However, in reality, this is not the case. What is the reason that competition still survives in endogenous growth models (and, by extension, in reality)?
- Under its former President Hugo Chavez, Venezuela moved from a Capitalist economy to a Socialist economy and has remained so after Chavez’s death. For example, the government took over and now operates a chain of stores that used to be run as a private business. Prices in the government-run stores are lower than prices were in a Capitalist economic system. The government posts signs in these stores like the one below: In case you don’t read Spanish, the sign says: Product Description Diana Oil Fair Price 4.73 Capitalist Price 7.00 Your Saving 32% The implication, of course, is that prices in a Capitalist economy are not fair. Explain whether or not this is true. Be sure to address each of the following in your explanation: 4. in a Capitalist…The economies of many nations around the globe have been brought on their knees by COVID-19. Just when countries are on the path of recovery from the economic devastation caused by COVID-19, Russia invaded Ukraine which had worsened the economic outlook of the entire world. The nation Ghana as well as firms have not escaped the impact of the terrible events in Ukraine. Rising expenditure, dwindling revenue levels, increasing debt levels coupled with worsening macroeconomic indicators had led to the downgrading of the Ghanaian economy which has affected the ability of the country to go for external debt. In order, to deal with current challenges, the government in a process characterised by controversies passed the Electronic Transfer Levy Act 2022 popularly called E-levy. As the Finance Director of your company, you have been tasked to present a proposal to the Board of Directors on how your company will navigate the turbulent terrain of the Ghanaian economy. Your proposal must address…The economies of many nations around the globe have been brought on their knees by COVID-19. Just when countries are on the path of recovery from the economic devastation caused by COVID-19, Russia invaded Ukraine which had worsened the economic outlook of the entire world. The nation Ghana as well as firms have not escaped the impact of the terrible events in Ukraine. Rising expenditure, dwindling revenue levels, increasing debt levels coupled with worsening macroeconomic indicators had led to the downgrading of the Ghanaian economy which has affected the ability of the country to go for external debt. In order, to deal with current challenges, the government in a process characterised by controversies passed the Electronic Transfer Levy Act 2022 popularly called E-levy. As the Finance Director of your company, you have been tasked to present a proposal to the Board of Directors on how your company will navigate the turbulent terrain of the Ghanaian economy. Your proposal must address…
- In free market (liassez-faire) system, the price mechanism dicates the production planning (how to produce) decisions. True or flase Free markets produces relatively high levels of efficiency but low rates of growth. True or FlaseDefine economics and describe the two types of economic systems: capitalism and command economy.Which of the following is NOT a mechanism that could link globalization to the contemporary rise of populism? Group of answer choices Political globalization has reined in power of national states, pitting the people against foreign elites Globalization has coincided with the end of the Cold War, which has led publics to use democracy to address, or target democracy as the cause of, their suffering Populism is a natural byproduct of democratization, which has spread since the third wave Economic globalization has coincided with a rise in income inequality around the world
- A couple things that Mexico can do to raise money on the global capital market is to use either debt capital or equity capital. Debt capital usually comes in the form of loans, while equity typically comes in the form of cash in exchange for stock ownership. One of the benefits for using debt is that a large amount of money can be raised without diluting equity. Debt financing usually involves an entity borrowing money from a lender and paying it back at a later date. Raising equity usually occurs when selling shares of stock to investors. The advantage of this method is that Mexico would not have to worry about regular interest payments on debt as well as fluctuation of exchange rates. The only downside is that selling shares of stock would result in the dilution of equity for Mexican firms. I would personally recommend debt financing that way Mexico would not be diluting the equity of their firms, while also being pressured to make sure that firms remain profitable in order to…I feel that the strongest moral consideration in favor of capitalism would be the freedom to pursue a business for private ownership or have private ownership of your own business by building it from the ground up. If you want to start your own business, you can do that. If you are interested in a specific job, you can figure out a plan to get yourself educated in that field, prove your worth through applying and interviewing, and you can eventually find yourself in that dream position through persistence and hard work. At the end of the day, it all depends on what you want to do. All of the pressure is on you to create the future you ideally want through the choices you make in the current market. I feel the strongest objection to capitalism is oftentimes the large majority of the profits go to the higher-up executives in many large companies. With the freedom of conducting business, upper management has the ability to control wages the way they feel necessary, which means the…Marx and Engels ([1848] 1967) argued that market-based capitalism was the most dynamic force in the world. Originating in Western Europe, this economic system was based on capital accumulation, the spread of markets, and the exploitation of labor. This latter idea was based on the notion that labor is the source of all value in the production process, but labor is only recompensed part of that value, in the form of wages; the rest goes to the owner of the capital as profit Under the capitalist mode of production, profit comes from the exploitation of human labor. Under the capitalist mode of production, profit comes from the exploitation of human labor. However, the accumulation of capital and new technology displaces labor. Joseph A. Schumpeter (1939, 1942, 1991) argued that growth was supply driven by the factors of production, with entrepreneurial innovation the most important of these. He believed in a “raw instinct” that drove entrepreneurs. He saw development as being driven by…