Adam Smith, coined rightfully as the Father of Modern Economics, in 1776 in his book âThe Wealth of Nationsâ laid the foundation of the concept of free trade. Though by no means a novel concept, it had been informally practiced throughout British colonies as well the Ottomon Empire, he formalised this economic concept. Famously opposing the mercantilist approach, he is quoted as saying âIt is the maxim of every prudent master of a family, never to attempt to make at...
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Fair trade is trade in which fair prices are paid to producers in developing countries. It based on partnership between consumers and producers. Fair trade improves the lives of those living in developing countries by offering small scale producers fair trade relations and a guaranteed minimum price. There are over 1.5 million workers and 1210 fair trade certified producer organizations in 74 countries (Fairtrade Labelling Organizations International, 2011). The fair trade USA coffee market has grown nearly 90% since it...
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It has been 4 years since the results of the Brexit referendum on June 23rd, 2016 and the world waits with bated breath to see the deal penned down by the negotiations between representatives of the European Union and the United Kingdom. Spurred on by the wave of nationalism and fueled by issues of unrestricted migration, high budget contributions, restrictive trade policies and the bureaucratic nature of the European Parliament, the UK decided to withdraw its membership from the European...
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Brexit. A word that rolls of the tongue with ease is in fact a heavy, oft-sour topic. The political turmoil caused by a vote passed in 2016 is not going away anytime soon. The media framing of Brexit is polarizing. Citizen discord permeates through social media sites, news outlets, and the streets of cities. The only united front is the frustration at an ongoing struggle with no end in sight. Questions sprout from the foundation of Brexit as quickly as...
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Since Britainâs decision to leave the EU, there have been various changes that have already taken place and had both positive and negative impacts on small to medium sized businesses that operate in the UK. These changes will be the one of the two focuses of this essay. The other focus will be on the changes that are likely to take place after the UK has left the EU in March 2019, and the consequences of these changes on UK...
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What does Brexit mean to you, me or SMEs? Undoubtedly, Brexitâs impact will affect individuals and companies, whether they are SMEs, multinational corporations, banks or other organizations, in a myriad of different ways depending on the specific nature of the business or person. Certainly, the origin or make up of the SME is key to assessing the potential impact since Article 50 was invoked on Wednesday 29 March 2017. As the two years deadline looms, unless Article 50 is revoked...
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There are many reasons stating why Brexit was triggered. There are 3 reasons the brits voted for Brexit, economics, sovereignty, political elitism. When it comes to economics most of the British people believe that jobs and financial opportunities are being taken away by immigrants. They also believe that foreign competition is killing their companies and stealing their clients. The second reason for Brexit is sovereignty, the rise of nationalism across the world. Thereâs a growing distrust of multinational financial, trade,...
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The word âBrexitâ is a combination of two words âBritainâ and âExitâ. The United Kingdom decided to leave the EU 3 years on June 2016. There were total of 72.2% voters and 51.9% voted in favor of Brexit and 42.1% vote against the notion. The supporters of Brexit won the margin by 3.8% which was enough for the government to come to the decision of leaving the European Union. The due date of leaving the EU was 29th March 2019...
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Brexit is currently one of the most controversial topics in the world, especially in Europe. From the name âBrexitâ we all understand that it stands for the exit of Britain from EU. Britain always a questionable role in European Union. Britain first applied for the membership of the EU at 1973. But at that time, Britain was rejected twice because the President of France at that time Charles de Gualle rejected it twice, because he thought that Britain wasnât compatible...
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On the 23rd of June 2016, the United Kingdom held a referendum to decide on the future of Great Britain. As stated in the journal, âThe economics of international disintegration by Thomas Sampson (2019)â, âBrexit is the withdrawal of the United Kingdom from the EUâs supranational political institutions and will lead to the erection of new barriers for the exchange of goods, services, and people with the remaining 27 member statesâ. This change has an impact on everything in the...
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âBrexitâ was unprecedented and life-changing for the United Kingdom. It not only exposed weaknesses within British Liberal Democracy, but it also saw an evolution of its more traditional principles, a necessary adaption to the needs of modern times. In reference to British Liberal Democracy, we refer to the form of government and ideology with representative democracy operating under principles of classical liberalism. Fundamental to this system of government are characteristics such as the separation of powers, the protection of human...
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Brexit is a term just, like 'Grexit' that was utilized for a long time to allude to the probability of Greece leaving the Eurozone. Brexit refers to the possibility of Britain pulling back from the European Union (EU) (The Economic Times). The European Union - regularly known as the EU - is an Economic and political association including 28 European nations. It started after World War Two to cultivate monetary co-activity, with the possibility that nations which exchange/trade together are...
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Coronavirus pandemic has created huge disruption on the economy. Indiaâs growth for the fiscal year 2021 has been downgraded by credit rating agencies. Coronavirus has degraded the economy throughout the world. It has deeply affected the economy at both macro and micro levels. Many employees are losing their jobs or facing salary cuts. Some businesses are being significantly affected. India may have a negative growth rate for the financial year 2021. Let us look at how Coronavirus has affected various...
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Technology has become an important part of human life. In the modern era, technology influences the lifestyles of people as well as their opinions. Although technology has many benefits, it also provides an avenue through which people can circumvent rules and regulations. Brexit offers a clear example of how people can manipulate technology to defeat regulations. During the Brexit referendum campaigns, Facebook played a big role in influencing voters. The outcome of the Brexit vote was a result of concerted...
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The football culture is big in England and in Scotland. There are many reasons why many people start with football and join different football communities. For instance, in Glasgow Scotland, ethnicity, nationality and history are the reasons why people are joining different football communities. On the other hand, this creates a lot of conflicts between different football teams and their fans. In Glasgow, there are two huge football clubs who are rival to each other, Celtic and Rangers. Celtic does...
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