How have changes in the world economy since 1945 affected room for Essay

How have changes in the world economy since 1945 affected room for manoeuvre of multinational firms - Essay Example The years 1945 and the early 1950 have experienced a fall in the multinational investments. One of the prominent reasons behind a fall in the foreign direct investments was spread of communism combined with the harsh impacts of World War II. There was a spread of Communism in the Eastern Europe in the late 1940’s, and China experienced it in 1949 (Jones, 2005, p.30). During the war, USA was the only country in which experienced a significant increase in foreign direct investments. However, there was an eventual fall in the investments followed by a dramatic growth of the domestic economy. After the World War II, there was a major geo-political division of the world. This division was between the capitalist West, the communist East and the Third World (Dicken, 2010, p.16). This division proved to be very important for the multinationals. This is because it was through this division that the companies determined their strategies to expand or to internationalize. An independent economic system was made by the Eastern Block, as it drew boundaries around itself and the Eastern European Satellites. This boundary was made so that the foreign companies could remain outside, hence they were entirely excluded (Jones, 2005, p.31). The Western Economic order was seen to be much dominated by the US. Western dominance advocated for liberalism at the same time they maintained strict protectionist policies. Moreover, the previously decolonized countries from the 1950’s were being colonized and this led to an unprecedented beginning of internationalization and the emergence of a global economy (Hewitt, 2000, p.289). Most of the countries consider themselves to have observed resurrection from the early 1950’s, when the USA was left in a unique powerful position. It was because of Bretton Woods’s system that dollar was set as gold convertible, which made it a major reserve currency of the world. Majority of

Econ Assignment Example | Topics and Well Written Essays - 750 words

Econ - Assignment Example Additionally, with a gold standard, the central bank could not apply monetary policy in order to stabilize the economy. More to this, the central bank could not raise the interest rates during inflation and lower them during recession, to stabilize the economy. There was a great deal of disagreements between the modern day Main Street and Wall Street over the central bank representation. There was a feeling among those in the Main Street, that the central bank would not be representative of the whole country, and would thus be a preserve of the moneyed few in New York and Philadelphia. For that reason, both the first and second attempts of creating a central bank failed. Thus, to address these failures, Woodrow Wilson advocated for the creation of 12 Federal Reserve banks located at major cities in the country, making the country end up with 12 regional banks (27). Paul Volcker’s method of fighting inflation in the 1970s involved the introduction of high interest rates, to slow the economy and fight inflation (46). According to him, to break the inflation cycle, then a credible and disciplined monetary policy had to be put in place. With such introduction of a credible monetary policy, the inflation rate fell significantly to 3-4%. The failures in regulations addressed in this lecture include the banks and other financial institutions failing to monitor and manage the risks they were taking under the issuance of house mortgages. Another failure in regulations was the dependency of the firms on short tern funding, such as the commercial paper. There were failures in regulations including supervision, such as the consumer protection. The stability of the financial system as a whole was not granted adequate attention. Prior to the crisis, the quality home loans were financed through the packaging of exotic and subprime mortgages into securities, by the financial institutions. Many of these securities were sold to investors,

Globalisations Effect on National Governance

Globalisations Effect on National Governance Globalisation has significantly reduced the ability of governments to govern. Do you agree? Discuss. Globalisation, according to Van Acker and Curran (2004), is the process of increasingly international integration and global interchange of trade, markets, products, ideas and other aspects of culture, which is triggered by technological innovations and â€Å"underpinned by shifting power relations that sees finance capital as relatively dominant and transnational corporations as very powerful vis-à  -vis the nation state† (p.3). It is obvious that globalisation has changed the world dramatically and its profound impacts can be seen in every aspect in our society. It brings about numerous positive influences including creating greater access to goods from all over the world; extending international and intercontinental exchanges, and improving economic development (Baines Ursah, 2009). However, great opportunities come with great threats. Many studies show that there is a clear connection between globalisation and unemployment and financial crisis; as well as with environmen tal problems and inequity (Madeley, 2009). Thousands of studies have been done by worldwide experts to analyse its influences upon economy, politics and sociology, yet the results are still highly diversified and paradoxical. Regarding globalisation’s impacts on politics, several scholars have claimed that, besides a number of advantages, it also results in various negative consequences for many countries’ governments (Daalder Lindsay, 2003; Van der Westhuizen, 2009). This paper strongly argues that globalisation notably weakens the ability of government to govern, especially in terms of the eruption of the internet, and the growth of terrorism – which are considered as by-products of globalisation. The essay also includes an opportunistic effect of globalisation in reducing corruption in certain governments. As a product, as well as a catalyst of globalisation, internet is a global system of many independent networks containing unlimited resources of information and services that can be accessed almost everywhere all around the world (Horner, 1997). With nearly three billion users worldwide, however, the rapid expansion of the internet has led to a global crisis of governance (Morozov, 2010). This happens due to the fact that the internet is operated without a central governing authority, as well as the borderless nature of itself (Rose, 2005). Additionally, many scholars argue that the management of the Internet Corporation for Assigned Names and Numbers a private non-profit organisation headquartered in the USA, over the domain name system – a crucial element for the function of the internet, has significantly reduced the power and governing ability of national governments, especially towards communication and information policy (Palfrey, 2004). Obvious examples are misinformat ion, illegal transaction, online piracy, copyright infringement, espionage, and cyber hacking that occur every second on the internet in which the government is not able to have a full control of (Galicki, Havens, Pelker, 2014), thus in this case, the government’s ability to govern is lessened and limited so remarkably that it is put on a high risk situation of being attacked. Another significant example relates to the Titan Rain cyber attack in 2004 in which several United States defence contractor computer systems, including those at NASA, the Lockheed Martin, Redstone Arsenal, and Sandia National Laboratories, were attacked and infiltrated in order to gain illegal access to military intelligence and classified data. This attack is believed to have its origin from Chinese government and is considered as one of the biggest cyber raids in the internet era (Miles, 2011). Another interesting case is the Arab Spring in the Middle East and North Africa since 2010. This massive event, which was triggered partly by the online diplomatic cable leak in November 2010, includes a series of politic activities such as protests, demonstrations, riots, and civil war that led to mass government overthrown and changes throughout the countries of the Arab League and surroundings (Jones, 2012). These activities were extremely well-organised and wildly spread by the effectiv e use of social media and the internet (Jones, 2012). These evidences illustrate how vulnerable national governance can become when confronting with the eruption of the internet and globalisation. Another challenge of globalisation that reduces government’s governing ability is terrorism. According to Zimmermann (2011), there is a close connection between globalisation and the rapid growth of terrorism globally. The technological revolution and mass media, the interconnectedness between individuals and organisations, migration, all of which are associated with globalisation, play an important role for terror networks to strengthen and enlarge their power internationally. In particular, a globalised trade makes the arms trade more globalised, thus weapons can easily get into the wrong hands (Stohl Grillot, 2013). Moreover, thanks to technological advancement, the internet, and the high availability of inexpensive hi-tech devices and softwares, many terrorists and terror groups can easily spread fears and improve their impacts worldwide by creating their online existence, popularising videos and footages of terrorist acts such as roadside bombs, beheading, or executions. The use of these means also significantly enhances their communication potential more than ever. The most recent example of this is a series of beheading videos circulated online by a terror group named Islamic State of Iraq and the Levant in 2014 (Porter, 2014). Using these videos with wide coverage, this group were successful in stretching fears and showing to those opposing them, especially the USA and other Western countries, how violent and powerful they are. Another famous case is Mustafa Setmarian Nasar – a first generation terrorist who attempted to accomplish everlasting influences by uploading his terrorist videos on the internet before being arrested in Pakistan in 2006 (Shlapentokh, 2012). These proofs have demonstrated how considerably globalisation can promote terrorism. The question needs to be answered now is how terrorism can negatively affect the capability of governments to govern. According to Kampf (2014), terrorism is defined as political violence involving political aims and motives from an illicit identifiable organisation, which is designed to generate terror and psychic fear by conducting acts of violence, such as brutal victimisation, and exploitation or non-combatant target massacre, in order to achieve certain desired goals. Such activities, with their intense political consequences, extremely reduce governments’ governing ability in different ways, and at different levels. Numerous recent studies have shown that terrorism can actively affect and shape the course of domestic politics by modifying the preferences of voters and voting behaviour during an electoral campaign. Terrorist activities also have strong impacts on government formation as well as its survival (Indridason, 2008). A salient example for this case is the unexpected victory of the Socialist party over the People’s party – the incumbent governing party, during the Spanish legislative elections in 2004. This surprised outcome is believed due to three terrorist bomb attacks on the Madrid train line that killed and injured hundreds of people, which happened just three days before the Election Day (Indridason, 2008). In addition to those hypotheses, William, Koach and Smith (2012) asserted that terrorist activities also harmfully impact the stability of parliamentary governments. Furthermore, some governments might become too sensitive and their duration could be shortened due to the effects of terror attacks. It is obvious that by contributing to the growth of terrorism, transitively, globalisation with all of its advanced products and components can seriously weaken the governing ability of certain governments, or even make them overthrown. Nevertheless, one can argue that globalisation can also bring opportunities for stronger governing abilities among certain governments. An important example of such positive impacts relates to reduced corruption, since corruption can threaten the legitimacy of the incumbent government and lead to public dissatisfaction (Seligson, 2002). Many studies have been done to analyse the relations between globalisation and corruption to find out either they are directly or inversely proportional to each other. Interestingly, most of them conclude the latter. By examining data from 127 countries, a research in 2011 claimed that globalisation is a powerful weapon to oppose corruption, especially for those countries with middle and high income (Lalountas, Manolas Vavouras, 2011). Similar results and findings have been made by Asongu in a recent research in 2014. Additionally, another study conducted in 2001, evaluating information from several countries during a twenty-year long period, demonst rated that the casual connection from openness to corruption is persistent and strong, and that openness can indeed lead to a reduction in corruption (Bussolo, Bonaglia Braga de Macedo, 2011). In conclusion, this paper has demonstrated that globalisation has significantly reduced the ability of governments to govern via its by-products such as the internet and by contributing to the growth of domestic and transnational terrorism in different ways. It also mentioned that globalisation can bring opportunities for countries to effectively reduce corruption. However, it cannot be denied that globalisation is an inevitable phenomenon and plays an important role in the development of every country in the world. Thus, it is crucial for governments to learn how to strengthen opportunities created by globalisation and view its many challenges as excellent opportunities to better cooperate with governments on a global scale to produce solutions for global problems, such as terrorism, internet security, sustainability, and global peace. These important areas suggest excellent topic areas for further research. References Asongu, S. (2014). Globalization (fighting), corruption and development. Journal of Economic Studies, 41(3), 346-369. Doi:10.1108/JES-04-2012-0048 Baines, H. V., Ursah, J. R. (2009). Globalization: Understanding, management, and effects. New York: Nova Science Publishers, Inc. Bussolo, M., Bonaglia, F., Braga de Macedo, J. (2001). How globalisation improves governance. OECD Publishing. Doi: 10.1787/774554632487 Daalder, I. H., Lindsay, J. M. (2003). The globalization of politics. The Brookings Review, 21(1), 12. Galicki, A., Havens, D., Pelker, A. (2014). Computer crimes. American Criminal Law Review, 51(4), 875. Horner, K. (1997). Internet: A definition. Retail Delivery Strategies, (8), 5. Indridason, I. H. (2008). Does terrorism influence domestic politics? Coalition formation and terrorist incidents. Journal of Peace Research, 45(2), 241-259. Doi: 10.1177/0022343307087183 Jones, P. (2012). The arab spring. International Journal, 67(2), 447. Kampf, Z. (2014). Newsà ¢Ã¢â€š ¬Ã‚ Media and terrorism: Changing relationship, changing definitions. Sociology Compass, 8(1), 1-9. Doi:10.1111/soc4.12099 Lalountas, D. A., Manolas, G. A., Vavouras, I. S. (2011). Corruption, globalization and development: How are these three phenomena related? Journal of Policy Modelling, 33(4), 636-648. Doi:10.1016/j.jpolmod.2011.02.001 Madeley, J. (2009). Globalisation. Appropriate Technology, 36(1), 52. Miles, A. (2011). Why the Chinese cyber attack is the ultimate scare story? London: New Statesman Ltd. Morozov, E. (2010). The Internet. Foreign Policy, (179), 40. Palfrey, J. (2004). The end of the experiment: How ICANNs foray into global internet democracy failed. Harvard Journal of Law Technology, 17(2), 409. Porter, B. (2014). What is ISIS? Sydney: Australian Broadcasting Corporation. Retrieved from http://www.abc.net.au/news/2014-06-12/what-is-isis/5518990. Rose, R. (2005). Introduction: The internet and governance in a global context. Journal of Public Policy, 25(1), 1-3. Seligson, M. A. (2002). The impact of corruption on regime legitimacy: A comparative study of four Latin American countries. The Journal of Politics, 64(2), 408-433. Doi:10.1111/1468-2508.00132 Shlapentokh, D. (2012). The intellectual and political exchange among jihadists: The case of Mustafa Setmarian Nasar (abu musab al-suri). Journal of Applied Security Research, 7(3), 301. Stohl, R., Grillot, S. (2013). The international arms trade. Hoboken: Polity. Van Acker, E., Curran, G. (2004). Governing business and globalisation. Frenchs Forest, NSW: Pearson Education. Van der Westhuizen, C. (2009). Power and insecurity: The politics of globalisation. Hervormde Teologiese Studies, 65(1), 1-7. Williams, L. K., Koch, M. T., Smith, J. M. (2013). The political consequences of terrorism: Terror events, casualties, and government duration. International Studies Perspectives, 14(3), 343-361. Doi:10.1111/j.1528-3585.2012.00498.x Zimmermann, E. (2011). Globalization and terrorism. European Journal of Political Economy, 27, 152-161. Doi:10.1016/j.ejpoleco.2011.09.003

Argument For Legalizing Euthanasia Essay examples -- Pro Euthanasia Es

A patient is diagnosed with brain tumors that have spread to their bones and muscles. The doctor gives them three months to live, but only with the continuation of treatment. They spend most of their remaining time in a hospital receiving chemotherapy and radiation treatments. They must be pushed in a wheelchair because they are too sick to walk and spend the rest of their few months in pain, knowing they will die but not sure when. That is how the last few months of Cristy Grayson's life was spent. Now ask yourself, what would you do if you were in this situation? Would you want to spend the last few months of your life unhappy and in pain, or die peacefully? For some, euthanasia is not an option, but for others it is a way to end their suffering and have a peaceful death. Although some view euthanasia to be morally wrong, voluntary euthanasia should be legalized in the United States to end the suffering of others, help patients who have the ability to live a longer life, and decrea se the cost of health care. Euthanasia is an act of killing an incurable patient who is suffering or in pain. Euthanasia comes from a Greek expression for â€Å"good death† and, in other words, allows the patients to die and easy death without suffering. Euthanasia can be described as voluntary, involuntary or active, and passive. Voluntary euthanasia is being put to death with the consent of the patient; involuntary is where the patient is to ill to give consent, so a physician or close family member gives consent for them. Passive euthanasia is when common treatments, such as, antibiotics, pain medications, or surgery, are withheld. Active euthanasia is the use of lethal substances that will end a patient’s life. No matter what form of euthanasia is used... ...a. Hamlon Kathi. â€Å"Could euthanasia or assisted suicide be used as a means of health care cost containment?† Patient’s rights council. Jan. 2010. Web. 21 Nov. 2014. Pearlman, R. "Why Do Patients Request Physician-Assisted Death?† ProConorg Headlines. 10 July 2008. Web. 10 Dec. 2014. Pereira, J. â€Å"Legalizing euthanasia and assisted suicide.† PMC. 19 June 2012. Web. 5 Dec. 2014. Standley, Tim. "Jack Kevorkian's Horrible Career Offers a Warning against Legalizing Euthanasia." News Jack Kevorkian’s Horrible Career Offers a Warning against Legalizing Euthanasia Comments. 4 June 2011. Web. 10 Dec. 2014. Stevens, Kenneth. "PCCEF - Articles." National Legal Center for the Medically Dependent and Disabled. 2006. Web. 3 Dec. 2014. Swarte, N. "Effects of Euthanasia on the Bereaved Family and Friends: A Cross Sectional Study." BMJ. 24 July 2003. Web. 10 Dec. 2014.

Internet Marketing Strategies of Hsbc

In line with HSBC’s aim for development with global focus, the company was able to adopt a strategy, which enhances its technology development through information systems operations. This strategy was able to increase staff retention rates, and decrease staff turnover, which brings greater continuity and efficiency to the company’s projects (Annesley 2006). Moreover, in terms of internet communications, HSBC has a single global center of excellence for e-commerce IT, made up of collocated businesses and staff, distributed in international offices, such as in New Jersey, Chicago, Canada, Hong Kong and London. In accordance to this, HSBC was also able to implement and introduce another feature of HSBC. com, the HSBCnet, which is its developed key global platform, designed for commercial customers in other countries. HSBCnet includes services for global markets, global cash management and investment banking that are being used regularly by corporate customers. Moreover, as an response to the need of security, the company has developed a second-generation internet technologies, exposing customers to intelligent, personalized content and better targeted marketing, and this feature allows the customers to save time, avoid repetition of tasks by pre-filling in application forms, to come back to a product offer, and get to the end of an application process (Annesley 2006). Furthermore, the company has also developed the successful credit card authorization and accounting platform, which consists of linked applications, such as credit assessment, risk-based pricing, card ordering and transaction processing and reporting (Annesley 2006). These strategies enabled HSBC to gain competitive advantage over their competitors, by implementing an effective and efficient Internet-based information system. These strategies become relevant to the problems of Nokia because like HSBC, they can also develop the same strategies and use them for their own advantage

Dell Background

The background and history of Dell began in 1984 with Michael Dell as the founder which has been known as the most innovative entrepreneur for marketing computers. Dell began his adventure with computers in 1983 by selling PC components out of his college dorm room at the University of Texas. He bought RAM chips and disk drives for IBM PCs at cost from dealers and resold them in newspaper and magazine ads for 10-15 percent below regular cost. One year later he was already running sales of $ 80,000 and dropped out of school, creating a company called PCs LTD, selling both components and PCs. Dell had a strategic approach to selling which was buy the dealers surplus at cost and create his own by adding graphic cards and more memory. He was making clones of the PCs eliminating the retail markup, cutting the price about 40 percent and attracting the price conscious customers. This produced rapid growth and by the end 1986 sales had reached $ 33 million. In 1987 the company was renamed to Dell computers and a year later added a sales force that quickly gained government agencies, as well as becoming a public company. This venture raised 34. 2 million from common stock in the first offering to the public. Dell during the years of 1990-93 began to distribute his computer through superstores, but quickly realized that margins grew thin with this distribution channel and quickly withdrew from selling to retailers by 1994. Transitioning to focus on the direct sale of the computer and customize it during the ordering process for the customer. This was possible because each computer was individually assembled setting it apart from the others. During this time the laptop or notebooks started to also emerge in the early 90’s, however in 1993 Dell ran into some financial problems from a risky foreign currency hedging strategy and problems with laptops and PC models. These difficulties turned off buyers and caused Dell to suspend the sales of the laptops, then write off $ 40 million of its laptop PC models. In order to get sales back on track a redesign of the computer models were done and the company started to go strong into an internet site by 1997. Using the internet to sell there computers opened up a new market for Dell. They were building powerful computers with multiple features custom made to each individual. This model is the build to order business model and resulted in great sales.