Environment or Development? One of the most controversial ethical issues in the modern business area is the conflict between environmental protection and economic development. Economic development demands that a large number of products be produced in a time as short as possible. Mass production, therefore, requires the involvement of factory work that would generate a lot of wastewater and air pollution, which would not only influence the condition of the lands but also the health of human beings. However, economists...
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Since ancient times, there was interdependence between shipping activity and the degree of economic development. Civilizations who managed to exploit natural advantages like waterways have managed to develop economically. Thus, in ancient times, countries such as Egypt, China, Greece and the Roman Empire grew economically by developing river and maritime transportation routes. Since the eighteenth century, the importance of transport was highlighted by Adam Smith. In Smithâs concept, transport was a productive branch that creates value, but not the use-value....
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Economic development is a process of promoting and creating a healthy economy. This process requires a change in the different aspects of society, such as living standards, health care, education, etc. Since there are several different domains of economic development, there are several factors that determine economic development. Some of the main factors are culture, institutions, trade, geography, etc. In this essay, I'm going to talk about geography as a major part of economic development and how its influence has...
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Poverty has no root cause. Success is the one that has. Heat is analogically a result of active processes; it has sources. But cold is not a result of such processes; it is just the absence of heat. Simply put, the great cold of economic stagnation is just the absence of economic development. Economic development transforms basic, low-income, national economies into modern industrialized economies by a dynamic interaction within local and foreign systems. The question now is not whether to...
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The case for free trade in Georgia has been a prolonged process ever since the fall of the Soviet Union. It geographically resides in the Caucasus region and has seen an increase in free-market economics in a bid to increase foreign investment and economic prosperity (Erikson, 2018). It has utilized this liberalization of economics after the disintegration of the Soviet Union; after that, the state has struggled with economic and governmental reforms. Nevertheless, 20 years after the fall of the...
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Argentina is a federal country comprising 23 provinces and the autonomous federal capital of Buenos Aires .It has a long economic history that dates from 1880 when Argentina was relatively isolated backwater , dependent on the salted meet , wool , leather and and hide industries .After 1880 it began to experience swift growths through the export of livestock and grain commodities as well as through Britain and French investmen, marking the beginning of a fifty-year era of significant economic...
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Zafar Iqbal and Ghulam Mustafa Zahid from the âPakistan Development Reviewâ worked on the âMacroeconomic Determinants of Pakistan's Economic Growthâ in 1998. The study explores the effect on Pakistan's economic growth of some of the most significant microeconomic variables, such as education, physical growth and the budget deficit. A multiple regression method was used to analyze the period between 1959-60 and 1996-1997. According to quantitative evidence, primary education and economic openness are essential factors for accelerating growth. However, the budget...
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Japan is a highly developed first world country and is currently (2019-2020) ranked the third largest economy in the world after China. Japan has gone through major economic success and challenges through the years but its ability to learn, adapt and combine the skills and knowledge acquired has enabled it to always hold and avoid. The paper below looks at the various changes that the Japanese economy underwent from the early 1600s to date. It also looks at the role...
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Bernard and Austin (2012) argue that traditional theorists believed that financial market in general has no correlation with economic growth, this proposition aroused studies on finding the effect of financial market on growth. Ample of studies have conducted on the traditionalists and established association between stock market and economic growth. In developing economy like Bangladesh and Nigeria, the development and growth of stock markets have been widespread in recent times. Despite the size and illiquid nature of stock market, its...
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Introduction: The post-Civil War era in the United States witnessed a remarkable transformation in the economic landscape, marked by the substantial growth of corporations. This period, commonly referred to as the Gilded Age, saw a rapid expansion of industries such as railroads, oil, steel, and finance. This essay will analyze the factors that contributed to the significant growth of corporations during this period and examine the economic, social, and political implications of this development. Body: Industrialization and Technological Advances: The...
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How do superpowers influence the global economy? âThe sun never sets on the British empireâ, (Brian Doone, 2019) is a famous historian quote that rings true to Britainâs situation before World War I. The rise of global superpowers has influenced the global economy in many ways and this trend started all the way back when the first world war occurred. Imperialism in WW1 was a huge deal, the most powerful countries in the world were invading the smaller countries to...
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Colombia has been a country of turmoil and unrest for most of its existence. Due to the fact that there are so many regions and each region being in control of itself and not having much to do with the other region, the unrest has been difficult to manage. From a business standpoint, there has not been much going on with the outside world until the early to mid-20th century. It was during this time period that there was a...
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Nowadays one of the most highlighted topics for Bangladesh is blue economy. Blue economy refers to the economic activity based on maritime resources. The blue economy is the sustainable use of ocean resources for economic growth, improve livelihoods, and jobs while preserving the health of ocean ecosystem (WB). Blue Economy was considered at the RIO+20 UNITED NATION conference on sustainable development, held in Rio de Janeiro, Brazil in June 2012. The sea is the best sources of energy utilization. Now...
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North America and Latin America have always been two nations, which possessed fairly different characteristics. North America, the third-largest continent in the world, consisting of twenty-three countries, occupies the majority of the northwest hemisphere. Latin America, based in the southern part of the western hemisphere, consists of a group of countries and dependencies. Latin America consists of the entire continent of South America as well as Central America, Mexico and the Caribbean islands, where citizens in the area speak languages...
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Texas being the second largest state of the United States of America in terms of area and population was once considered as a mediocre, agricultural state after it was granted freedom from Mexico. Fortunes changed for Texas in the 20th century, and a massive increase was recorded in the economy of the state. Firstly, there was a massive increase in the oil industry then and afterward by its broadening into petrochemicals, aerospace, computers, and many other industries. Thus, making it...
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The conflict within Syria, which started in 2011, has been going on for just over 10 years and has caused major impacts on the country as a whole and its future development. They have many short-term impacts but will also face many long-term impacts such as education and the long-term impact this will have on the younger generation. Hospitals and the healthcare system are also struggling greatly due to underfunding which has led to many excess deaths and this has...
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Historians such as Jurgen Kocka have argued that Germany followed a special path of development due to the absence of social and political modernization during economic development. This caused pre-industrial mentalities and structures to remain prominent within all aspects of society. Hence, he argues that this led to an inevitable crisis during the 1930s and therefore, resulted in a logical dictatorship. Jurgen Kockaâs supporting views towards the Sonderweg thesis are demonstrated in his article âCauses of National Socialismâ. In an...
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The enactment of the Affordable Care Act is important in improving universal healthcare because it provides people of low income the opportunity to access quality healthcare services just like the working class. However, in attempting to achieve this, the GDP growth rate is likely to reduce leading to high inflation rates. This is why the government must take adequate measures as spending in healthcare is increased to help deal with these negative outcomes that are likely to jeopardize the countryâs...
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Milton Friedman, former presidential advisor, Nobel prize winner, and coauthor of Income from Independent Professional Practice, was a world-renowned economist, well known and respected throughout the economic community for prominent advocation of free markets in society. In Friedmanâs video âThere Is No Such Thing as a Free Lunchâ, Friedman discusses many popular political aphorisms, as well as one particular aphorism that he helped popularize with the title of his book, published in 1975, âThereâs No Such Thing as a Free...
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Judith Teichman in her book 'The Politics of Inclusive Development' explores the politics of inclusive development through an in-depth analysis of four case studies, Mexico, Indonesia, Chile, and South Korea, each with clear-cut development paths and different social welfare and distributive outcomes, and places these cases in the context of international development thinking and practice. The book tries to tackle two main concerns: what policies are necessary for the reduction of poverty, its related deprivations, and continued improvements in social...
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In recent years, society has witnessed robots and machines replacing many jobs that were once conducted by humans. The questions on everyoneâs minds are when will the development and advancement of artificial intelligence stop, will robots have the potential to replace every aspect of humans' lives, and what jobs will be left? Artificial intelligence is making its way into numerous industries and as a result, disrupting the workplace environment. Industries are currently realizing the economic benefits of Artificial intelligence such...
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Youth is the best to be understood as a period of transition from the dependence of childhood to adulthoodâs independence. In Western societies, âyouthâ is defined as âlife stages between childhood and adulthoodâ and becoming independent from dependent (Kehily 2007). âYouthâ is often used to refer to those between the ages of leaving compulsory education and finding their first job. The United Nations (1981) defines âyouthâ as those between the ages of 15 and 24 years old, without prejudice to...
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1.1 Executive Summary The main objective of this report is to determine the factors that led to the issue of unemployment and disturbed the economy of Pakistan from 1999 to 2010. Unemployment is a very serious problem that causes the decline in the economic growth of a country and that also affects the international status of that country. To study the determinants of unemployment in Pakistan ordinary least square model is used. This report focuses on foreign direct investment, inflation...
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Introduction The Renaissance, a period of cultural and intellectual rebirth in Europe during the 14th to 17th centuries, brought about significant changes in various aspects of society. One area profoundly impacted by this era was the economy. As the Renaissance unfolded, a notable economic effect emerged—a transformation in trade and commerce. This essay explores the economic shifts that occurred during the Renaissance and highlights one key effect: the expansion of trade routes and the growth of commercial activities. The Commercial...
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The Columbian Exchange, a watershed moment in human history triggered by Christopher Columbus's voyages to the Americas, had far-reaching economic consequences that reshaped the course of global trade, wealth distribution, and economic systems. This evaluation essay delves into the economic results of the Columbian Exchange, exploring both the positive advancements and the nuanced implications that emerged as a result. Thesis Statement The economic result of the Columbian Exchange was a complex interplay of opportunities and challenges, as it led to...
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Our society is wholly shaped by Economics. The subject has interested me due to the advancement our world has undergone. Despite this, poverty lingers. (So,) when initially reading âDead Aidâ by Moyo, it was very conflicting coming across âAid has helped make poor poorer and growth slower.â (However, it was only) When I completed the book(After reading), I (understood why this was the case. I) learned that there are many hindrances to Africaâs development such as disease and location. Moyo...
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The emphasis on the life cycle impacts of projects is also a process efficiency drive to ensure that construction strategies take a long-term view of costs, explaining why sustainable buildings typically have lower running and maintenance costs. These are achieved through sustainable design strategies and innovative use of sustainable materials and equipment. Even where upfront costs of sustainable projects are high, it takes a relatively short time to recover such additional costs in addition to the indirect benefits to clients,...
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Introduction The inflation rate is a key economic indicator that measures the rate at which prices of goods and services in an economy are rising over a specified period. It is a critical component of monetary policy, affecting consumers, businesses, and policymakers alike. This essay aims to provide a critical analysis of the concept of inflation rate, exploring its implications, measurement challenges, and its impact on various stakeholders. Understanding Inflation Rate Inflation is a natural occurrence in any growing economy....
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Introduction Inflation, the general increase in prices over time, is a persistent economic issue that affects individuals, businesses, and governments. While moderate inflation can be a sign of a healthy economy, high or unstable inflation rates can have detrimental effects. This essay will present an argumentative analysis of the inflation issue, highlighting the challenges it poses and proposing potential solutions for achieving a balance between economic growth and stability. Inflation's Impact on Purchasing Power One of the key concerns surrounding...
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Colonialism is the act of a âpowerful country directly controlling less powerful countriesâ (Collins,[no date] ) the historical act of colonialism was performed by the European colonial empires which involved countries such as Great Britain, Spain, Germany, Portugal, France, Belgium, and many more European countries. Before the end of the 19th-century, colonialism wasnât âpopularâ or important due to the historical context of the Napoleonic wars, industrialization, and âstruggle of nationalism and democracyâ (Age of imperialism, [no date], p.145.) European nations...
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