If you want to feed the people of the third world eat chocolate - Discuss.
If you want to feed the people of the third world eat chocolate. Discuss. Human use of the cocoa bean can be traced back to around 600 BC where it was used as part of an ingredient in a hot, liquid beverage consumed by the Mayans in Central America. Around 2 millennia later, in 1491 AD, Christopher Columbus introduced cocoa into Spain. Columbus had discovered these seemingly dull and un-important beans during his expeditions to the Americas where at this time cocoa was being drunk by the Aztecs, in much the same way as it had been by the Mayans. There was one difference though, 'chocolatl' (meaning 'warm liquid') was a regal drink and very few people, mainly only the Emperor, ever had the chance to taste it; let alone the actual people who cultivated the bean. This situation appears to have remained the same for over 500 years, but just broadened to an international scale. In terms of the chocolate industry we are very much a global microcosm of the Aztec society. In England the average person will spend $98 per year on chocolate. 7 years ago the European chocolate industry was valued at $18,463 billion. Chocolate is a multinational industry and is sold everywhere in the world. However, chocolate has humble beginnings. Grown in many places from The Ivory Coast to Indonesia to Brazil, cocoa often starts its existence in poverty. Poor cocoa farmers in these countries grow
Budget 2004-05 and Economic Analysis of Pakistan
TABLE OF CONTENTS * Preface * Acknowledgements * Introduction to Budget ............................................ .......1 * Budget 1 * Purpose of Budget 1 * Role of The Budget 1 * Objectives of Budget Preparation 1 * Budget 2004 - 2005 ......................................................2 * Challenges 2 * Salient Features 3 * Comparative Budgetary Position 2003-04 & 2004-05 5 * Resource Position 2004-05 6 * Internal Resources 7 * External Resources 11 * Provincial Share In Federal Receipts 12 * Province-Wise Share 13 * Current Expenditure 14 * Budget At A Glance ........... ........................................21 * Receipts 21 * Expenditure 22 * Provincial Budget 2004-05 ........................................... 23 * Punjab Budget - Highlights 23 * Economic Analysis 2003 - 2004.........................................24 * The Economic Survey - Highlights 24 * Economy - Summary 30 * Conclusions........... .................................................. 34 * Bibliography ..............................................................35 PREFACE Macro-Economics is the study of the behavior of the economy as a whole. It it examines the forces that effect many firms, consumers, and workers at the same time. Macro-Economics deals with many challenges and
Many examples of Companies working globally are: Nike, Adidas and other companies which may not necessarily be in the clothing business. These are usually referred to as TNC's or transnational companies
The logo: Good or Bad Written and edited by Jai Malhi We are all conscious of what we buy, but do we really know the effects of buying these goods. There has always been the debate of whether we are doing harm to ourselves and others when buying expensive designer goods with the popular 'logo'. Branded goods are goods, often known to us as the clothing we wear, which bear a company name or trademark and are often expensive and considered to have an extra mark of prestige. There are various different goods like clothing, which are made globally which is a subject I will cover later, and they are worldwide recognised names on the clothes we buy for example; Adidas and Prada which are known all over the world and the process it goes through to finally reach the buyer is often a hassle to many. The question though is whether the logo really matters. Should we all be drawn into buying the branded goods and not bother to find out what it does to others? You may be thinking that harming others through buying expensive branded goods is not possible, but there is one way; Globalisation. TNC's also plays a large part in globalisation. A TNC is a transnational company. (c) Here are some easily recognisable transnational companies. (Top left: Nike, Top right: Coca Cola, Below: Mc Donalds.) If you still do not understand what a TNC is maybe this will help. A TNC is a
What will happen to houses prices in five years time?
What will happen to houses prices in five years time? Introduction For millions of Britons their property is not just a roof over their heads it is a passport to financial security and even a pension. Anything that endangers the seemingly never-ending rise in house prices is always news. The aim of this coursework is to find out what the house prices will be in five years time. I am going to research the housing market on the internet and send out questionnaires to a range of estate agents. In Gordan Browns 1997 budget speech he said, "I will not allow house prices to get out of control". However ten years on and they have spiralled leaving thousands of people unable get onto the first step of the property ladder. So do we now need a crash in the housing market to level the playing field once more? Are crazy house prices creating a new generation of renters unable to buy? I believe that house prices will steady and will not rise to much in the next five years as there is currently a crisis with first time buyers who cant afford to buy their own homes. However I don't believe there will be a decline in house prices as therer is still a great demand. Background On Tuesday the 2nd of October, the Office of National Statistics (ONS) said that UK house prices had raised by 204% in the past decade compared with a 94% increase in average wages. In the past year alone,
Discuss the view that minimum wage legislation leads to unemployment. Has this been the recent experience of the UK?
Discuss the view that minimum wage legislation leads to unemployment. Has this been the recent experience of the UK? Minimum wage legislation is often contemplated by governments as a way of combating poor wages and the poverty that typically accompanies these wages. This is a direct form of government intervention and its use causes a great deal of debate, particularly from Classical (or free market) economists. Free Market economists argue that the minimum wage causes unemployment. This paper will discuss the argument that minimum wage causes unemployment and go on to analyse whether this has been the case in the UK over recent years. When a government introduces a minimum wage it sets a wage level to which every worker is entitled. Any employer which pays less than this minimum wage does so only by breaking the law. A minimum wage only has an effect if placed above the market equilibrium as can be seen in Fig.1. When the minimum wage is implemented the supply of workers increases as more are willing to work for the higher wage and we move up the labour supply curve. At the same time employers are less able to afford as many workers at the higher wage level and reduce the amount of workers that they employ. As is seen in Fig.1 there is a simultaneous move up the labour demand curve. The introduction of the minimum wage has therefore created unemployment of QaQb. Fig.1
Can International Trade Ever Really Be Free?
Can International Trade Ever Really Be Free? Countries all over the world are endowed with diversified resources. This specific resource endowment essentially means particular countries will always possess the advantage in the production of unique goods. For example, Brazil is well known for its' coffee production, the Middle East being the greatest oil producer, and South Africa is famous for its' gold production. These countries have the advantage that others do not have, and this is what Adam Smith's theory of absolute advantage is suggesting (Brooks et al 2004). Nonetheless, when a country has an absolute advantage over another country in production of certain goods, both of them could benefit from trading those goods. This is another theory of Ricardo's comparative advantage as Yeats (1979) states that countries will benefit from each other by specialising, that is, a country can produce certain goods at less foregone opportunity cost than other countries can. In other words, by specialisation, both countries would utilise their resources at the maximum and thus, raising the production level. Furthermore, free trade attracts international competition and hence, it stimulates the domestic firms to innovate and apply up to date technology in order to compete internationally. Consequently, both countries will be mutually beneficial. By trading internationally, poor
Outline and critically assess J K Galbraiths argument that it is not the market but a planning system that drives many capitalist economies
Outline and critically assess J.K.Galbraith's arguments that it is not 'the market', but a 'planning system' of large corporations that drives many capitalist economies. Over the past 30-40 years the world has seen a significant rise in the number of TNC's that operate and it is safe to say that they are very important to many economies as they dominate their business environment. Anyone who disagrees should consider the following facts; * 1/4 to ? of all world production is controlled by TNC's * The biggest 500 large corporations control 70% of world trade and 80% of all overseas investment (FDI) * The total combined revenue of the biggest 200 corporations is greater than the combined revenues of the 182 national economies that make up 80% of world population. * The combined profits of just two of the biggest automobiles companies in the world (General Motors and Ford) surpass the GDP of all of Sub-Saharan Africa. * In the early 1970's there were just 7000 TNC's whilst now there are almost 8 times as much with 53,000 TNC's (quote) Neo-classical economics (i.e. traditional textbook economics) views capitalism as a market system with government intervention where necessary (most often when markets fail). Power is spread between each small firm and decisions are made independently of each other. J.K.Galbraith in his 1967 book "The New Industrial State" argued
Are transnational corporations the main beneficiaries of globalisation?
Are transnational corporations the main beneficiaries of globalisation? "Two hundred giant corporations, most of them larger than many national economies, now control well over a quarter of the world's economic activity." Anderson & John Cavanagh (2000). Transnational corporations (TNC's) are wielding more power and influence than ever before, they have got so large that some have more financial clout, and employ more people than entire nations. This essay will expose how one of the most well-known Western TNC's (Coca-Cola), has resided in the less developed country (LDC) (India) causing severe drought, then how they were subsequently band from India through legal action. Then discuss if TNC's really are the main beneficiaries of globalisation through the use of case studies and the media. Obviously, there are other beneficiaries of globalisation that have done extremely well: these be entrepreneurs, newly industrialised countries (NIC's) in the East, and in some cases the consumer. However, this essay's primary focus is Coca Cola and how they operate with regard to their enormous profits; social responsibility and whether or not this continued exploitation can be sustained. This particular case study exposes how Coca Cola resided in the Indian state of Kerala. "Three years ago . . . the . . . [this] little patch of land yielded 50 sacks of rice and 1,500 coconuts a year.
Common Economic Problems of Countries
Economic Problems 2.1.2. Currency Devaluation Currency devaluation is one of the most frequent problems that developing countries have to face when considering growth into international trade. 'An upward shift in the supply of foreign exchange due to rising capital inflows tends to lead not to real exchange rate devaluation but to appreciation, which offsets liberalization's incentives for traded goods production by reducing profits from exports and making imports cheaper.'(Taylor, 2000, p.43) Developing countries trying to be competitive and to present a good setting for trade and investment, sometimes tend to overvaluate their currency, this is the first stage of currency devaluation. If they do not become competitive enough to raise the exports to a higher level than imports, they would need to establish currency devaluation measures in order to pay their international debt obligations. A current example of a country that suffers this problem is Argentina. In 1991 the government establish a new economic scenario on 'an open economy'. They adopted a series of policies in order to achieve economic growth. The most important was the convertibility plan, which pegged the peso to the dollar at the one-to-one exchange rate. This worked at first, however the consequences were show years later. The past year Argentina fell into a terrible economic crisis. After many years
NEW TAX PROPOSITION
TAXING TIMES "In this world nothing can be said to be certain, except death and taxes" - Benjamin Franklin Many illegalities occur via the Internet: however, they are difficult to end completely, as it is extremely hard to locate the anonymous perpetrators of these online crimes - this is why many question whether it is at all possible to regulate the Internet completely. Thus, I propose a tax on a specific aspect of the Internet which is actually completely legal (and hence has known parties and is as such taxable), and yet still has negative side-effects attached, as well as other physical products associated with it. The battle against global warming is now imprinted in the minds of many: indeed, it has become one of the defining factors of our generation. The usual scapegoats for global warming include cars, jets and polluting firms. However, according to a recent ICF survey commissioned by the Internet security company McAfee, the carbon footprint of spam is a colossal 33 billion kilowatts per annum, equivalent to the carbon footprint (per annum) of around 3.1 million cars, a huge amount by any standards. So why, when cars, jets and polluting businesses have been taxed into relative submission, should spammers remain unscathed? Simple: as with many online activities, the parties involved in spamming are usually anonymous, or exceedingly hard to trace. Nevertheless, the
