politicsHow different is New Labour from Old Labour?
How different is New Labour from Old Labour? There are a variety of differences between new and old labour. They together fit in with the socialism ideology which is primarily to do with extreme equality, and the need for economic parity. They both shape in on the left of the horseshoe model and tend to be closely related with communism. However, old labour was seemed to be more far left socialist than new labour. Both old and new labour holds strong conventions on economic and social equality. Nevertheless, old labour believe that free market capitalism should be limited compared to new labour as they tend accept that free market capitalism in addition they consider it as probably the most appropriate way to promote wealth. From this, what new labour entails is the sheer fact that people should be equal and everyone has the right to set up large businesses if they required to. Whereas, old labour tend to be stricter on the basis of this and they wanted to reduce this freedom to a great deal as possible. Old labour in the past held incredibly strong emphasis on workers and trade union rights. Previously, in opinion polls the public spoke that trade unions had more power than old labour when in government. Old labour tended to hold these views on behalf of trade unionists due to the fact that labour originally was founded to represent the interests of the largest groups in
Will the UK succumb to the Eurozone Crisis?
Will the UK succumb to Eurozone Crisis? In his New Year's message, David Cameron declared Britain can only gain 'some protection' from the Eurozone debt crisis. Despite deep spending cuts, Cameron admits it might not be enough to prevent problems from Europe spreading to the UK. I'm not a great fan of credit rating agencies, but it was interesting that Moody said the threat to the UK's debt position came from prospects of a double dip recession (and not a failure to cut spending more). In other words, the fall in economic growth that has occurred since the start of 2011, is the biggest threat to the ability to satisfactorily reduce debt to GDP ratio. UK public sector debt is currently 62% of GDP. How did the UK deal with its public sector debt of over 200% which occurred in the early 1950s - Debt which was a legacy of the Second World War and bold spending on the Welfare state post 1945? One reason was a loan from the US (who were fearful of a Communist governments springing up in Europe). Today, there is no chance of similar loan from the US. But, the US loan is only part of the story. The main reason is that the UK were enable to maintain two decades of fairly constant economic growth. The rise in GDP, meant that the government could steadily reduce debt to GDP, without resorting to spending cuts. It is a similar story in the US, whose large national debt post 1945 was
The Economist article, Making The Desert Bloom, brings to light the condition that Mexico's economy is currently in, restricted by cartels, monopolies and its unfortunate situation with America.
Connor Reilly Economics - Mrs. Sickle 4 October 2011 Current Events Desert Economy Struggling To Stay Afloat When America's economy fell into a recession in 2008, it took down mexico along with it. America is by far the largest buyer of Mexican products, last year alone doing $400 billion in business. The Economist article, "Making The Desert Bloom," brings to light the condition that Mexico's economy is currently in, restricted by cartels, monopolies and its unfortunate situation with America. When stocks plummeted and jobs were lost in america, Mexico's economy as a whole fell by 6.1%, the northern state of Coahuila getting hit the worst with a drop of 12.3%. Until the recession, Mexico was on schedule to have a reasonable decade but with personal income growth now at only 0.6% , some of the worst in the world, it doesn't look promising. Mexico's unemployment rate peaked at 6.4% in 2009 and is only slowly getting better. The foundation of Mexico's economy is based on its exports. With americans share of Mexico's exports falling from 89% to 78% and expecting to get worse, mexico has a problem on their hands. At the beginning of the decade, Mexico claimed the largest Latin American economy but since has been over taken by brazil with a GDP grow to more then 2 times that of Mexico's. In 2010, the murder rate was 17 out of every 100,000 people, expected to cause a 1%
Evaluate the impact of the policies available to the Chinese Government to deal with their declining competitiveness.
Ben Ezekiel Test (40 Mins) Evaluate the impact of the policies available to the Chinese Government to deal with their declining competitiveness. (30 Marks) One policy available to the Chinese government to deal with their declining competitiveness would be to try to increase labour productivity through increasing spending on education and training to help develop skills and close any skills gap. Government may also promote a more flexible labour market, such as reducing trade union power, encouraging part-time work, and encouraging new business start-ups.This would lead to greater competition within the Chinese economy leading to increase in working effort from workers and therefore higher incomes and GDP per capita However, improving education takes time to come into effect and therefore would only benefit in the longer run, meaning that in the shorter run competitiveness within China would decline ever further. Another policy that could be used to increase competition could be through investment grants and subsidies, and by tax incentives to encourage new product development. Keeping interest rates low is also a strategy that would encourage investment and and therefore greater competitiveness. In addition, keeping them as stable as possible would increase certainty and reduce risk. Finally, investment may be stimulated by reducing the interest rate elasticity of
Chile - Almost a member of the Mercosur Club
Shawn Abrahim Internal Assessment- Economics Coursework Chile - Almost a member of the Mercosur Club GDP is a popular measure that gauges the total amount of goods and services produced in a country annually. Chile is enormously dependant on trade, which makes up approximately 87% of its GDP. The economic benefits of joining Mercosur would be outstanding. Mercosur is a customs market comprised of Brazil, Uruguay, Paraguay and Argentina. It is the third largest trading bloc in the world with a market of $1.1trillion (U.S) and 220 million consumers. Members of a customs market have no trade barriers, such as tariffs, amongst themselves. Tariffs, which are payments to the domestic government imposed on foreign imports, restrict the free flow of trade across borders. Customs markets have no restrictions on labour or capital movement amongst themselves. Mercosur hopes to have a common trade policy for non-members, each member country will charge similar tariffs etc, on non-member goods and services. When this is accomplished, Mercosur will be a Common market. Joining Mercosur will give Chile the negotiating power to trade with other large trading bloc's such as the EU. This will help increase Chile's volume of trade and lower trade barriers they face across the world. With increased trade, all parties involved will benefit. Chile will further specialize in the products that
How does the world market affect the US market?
How does the world market affect US market? Marketing is an economic activity affected by the economic environment in which it is conducted. International marketing has a twofold economic environment: world economy and economy of individual countries. It is reasonable to speak of the world economy because the nations of the world do relate to each other economically. Nations also relate to each other politically, diplomatically, military, and culturally. Many of these other elements of international relations are intertwined with economic considerations. More recently, economic considerations have played a role in regional cooperative movements such as the European Union. International economic concerns are also frequent items on the agenda of the United Nations and its affiliated agencies. The existence of this world economy is critical for the business firm. Because nations do communicate to each other economically, international business operations are potential. These days, international marketers are main participants in international economic relations. Therefore, it is needed to examine the world economy to see how it aids and constrains international marketing. The volume of world trade in 1998 was $6.6 trillion, a figure larger than the gross national product (GNP) of every nation in the world except the United States and four times the GNP of Latin America. This
The concept of globalization has challenged thestudy of International Relations from every aspect of the InternationalRelations theory. Globalization has undermined everything philosophers havecontributed to the theory of international relations....
The concept of globalization has challenged the study of International Relations from every aspect of the International Relations theory. Globalization has undermined everything philosophers have contributed to the theory of international relations. Unlike International Relations, globalization doesn't focus on the types of actors, because that's not important in globalizations systems. In this paper, I will reveal how states shifted from an international relations system into a system of globalization.; furthermore I will analyze globalization from five different aspects, and reveal the negative and positive contributions of globalization to the international community. In the global community of today, international states are becoming more and more globalize. As the world becomes more modernized, communications has linked the world as if it is one big state. The International Relations theory says that the global community consist of many states and few actors, however globalization makes it so that global community feels more like one state and many actors. These two controversial theories can be argue because many see globalization as a myth, even though there is proof around us that lets us know that globalization is much so taking place in our everyday life. The shifting of the states from an international system was not anything planned but the world just began
"Parched Earth"
Internal Assessment- Economics Coursework "Parched Earth" For much of this century, Ethiopia, along with many other LDC's (Less developed countries) has faced widespread famine. Drought and poor land management amongst other reasons have caused this famine. To support Ethiopia, countries of the western world, have steadily supplied Ethiopia with Aid in the form food, loans and grants, this is bilateral aid, it moves from one country to another. Most of this aid comes from developed countries. (See chart) In addition, other organizations such as the International Monetary Fund and the World Bank have distributed aid to Ethiopia, this is multilateral aid, and it involves movement of capital from an international organization to a country. This article focuses on the question, should aid be tied to how its government behaves? Aid doled out bilaterally is not often free of commercial objectives. This tied aid usually involves the recipient pledging to by products from the donor country. In this case aid is being tied not the commercial objectives of the donor, but for humanitarian objectives. Ethiopia is using much of its money to fund an extended was against neighboring Eritrea, because much of the Aid is used to finance war, it is ineffective and masses of people still starve. Similarly, in the past, most multilateral aid has been tied to participation in SAPS. Structural
Ten years ago the United States, Canada, and Mexico signed the North American Free-Trade Agreement (NAFTA).
Ten years ago the United States, Canada, and Mexico signed the North American Free-Trade Agreement (NAFTA). This agreement between the three North American countries planned to set up a free-trade market, a market between countries with no trade restriction/barriers such as tariffs, embargoes, and quotas between the trading countries, this sort of liberalized market would be unmatched throughout the world. After ten years, and through all the prosperity that has come from the agreement there have also been many negative effects, which have been suffered the worst by Mexico's agricultural sector. The United States agricultural sector is fortunate to have fertile land, a large work force, and many other factors that make it one of the largest producing agricultural markets. These factors make it possible for the U.S. to produce agricultural goods at a lower opportunity cost, amount of goods/services given up to produce a certain product, which gives the U.S. a comparative advantage over its trade partners. Mexico, being a heavy importer of U.S. agricultural products, has acquired a dependence on the U.S. imports to survive as a country, which has many negative social effects. Mexican farmers however have felt the pain economically, since the agreement they have had to compete with the massive amounts of imported goods, but since the Mexican government has eliminated all
Gordon Brown has made some radical changes to the counties monetary policies, he has given independence to the Bank of England and increased public spending while not increasing income tax. However, has the current government delivered on their promises?
Since coming into power in 1997 the Chancellor of the Exchequer Gordon Brown has made some radical changes to the counties monetary policies, he has given independence to the Bank of England and increased public spending while not increasing income tax. However, has the current government delivered on their promises? Economic Growth Economic Growth is the increase in the level of output from one year (base) to another, this is measured by a percentage change in GDP. Up until 1997 we can see a very jagged economic cycle with a high point 1988 at 6%, and a huge decline in output hitting a recession in 1991, the trend picks up again and reaches another high point 1995. So overall at times there is high growth or a decline in growth. Since 1997 although there has been low growth it has kept a steady growth with only slight dips. The graph of UK output in service and manufacturing shows that Britain is fast moving in the service sector where there is a huge growth. In the manufacturing sector we see a very low growth and even beginning to decline from 2000. The UK's economic trend follows quite closely with the rest of Europe mainly because of trade with Europe, however since 2002 there is a gap widening and the UK is performing a lot better than the rest of Europe mainly because of the slumping economies in France and Germany. Although at times the US and Japan have a
