What are the implications of globalization for international order?

What are the implications of globalization for international order? Globalization is a very popular concept very much talked about in the world today. It is considered by many to be interdependence and cooperation between states. Therefore, one can assume that globalization can have a positive affect on international order as all states would cooperate and have the same interests and that would lead to peaceful international relations and the enforcement of international order. Firstly, I shall start my essay by formally defining both the globalization and international order. I shall do this by giving my definition of both terms and put forward the name of a few scholars and their definitions. I will then talk about the implications of globalization for international order once again by putting forward the arguments of a few scholars, evaluating these arguments. Finally, I will conclude my essay by writing about my own beliefs taken from what I have read and the way I have interpreted my readings. I am hoping to conclude that globalization can have positive and negative consequences for international order as it is possibly good for the world economy but can also lead to inequality, that inequality leading to instability and preventing international order. The term `globalization` refers to the way economies cooperate throughout the world, especially through trading and

  • Word count: 1996
  • Level: AS and A Level
  • Subject: Economics
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Is the United Nations a success or failure?

IS THE UN A SUCCESS OR FAILURE? The UN was established in 1945. The United Nations was set-up to take over The League of Nations, an organisation also conceived during similar circumstances during the First World War. The League of Nations (LON) in 1919 was brought about under the Treaty of Versailles "to promote international cooperation and to achieve peace and security." The UN adopted a similar idea, to ensure World Peace, and to establish the economic, social and political foundations. The UN has fifteen member states. Five of them are; Great Britain (GB), China (CH), United States (US), France (FR) and Russia (RIA). These five have permanent membership and have the right to Veto. (Which the French and Russians are threatening to use at the moment, concerning the attack on Iraq). The UN is multipurpose organisation boasting six principle organs. They are; Security Council (SC), General Assembly (GA), Secretariat (SEC), Economic and Social Council (ESC), Trusteeship (TRU), and the International Court of Justice (ICJ). The SC, and GA are looked upon as the most important organs of the UN. The ICJ tends to be an organ that is publicised frequently as a key failure of the UN. But how much of a failure is the UN? The UN has had success with the International Monetary Fund (IMF) and the World Bank (WB). IMF opened in 1948. It had set itself three major aims. These were; to

  • Word count: 1404
  • Level: AS and A Level
  • Subject: Economics
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Microeconomics. How is elasticity a useful concept for firms and government?Consider a local bus company. How (if at all) does the marginal cost of providing transport for each passenger vary according to the time of day?

Microeconomics Coursework . How is elasticity a useful concept for firms and government? Elasticity, which according to A.Neale and C.Haslam "Economics in a business context" is a term "used in economics to describe the relationship between a proportionate change in one variable and a proportionate change in a related variable". Plain-speaking it is the measure of how one aspect of a products make-up, be it the price, or supply of available substitutes, will affect another. Elasticity demonstrates the relationship one factor such as price has on another such as demand. It is a useful concept for firms because the main goal of any organisation is to maximise profits. A firm will not just increase the price of a product without investigating the possible effects on demand. Elasticity can be used by a firm to clear a surplus. It is a useful concept for Government because it is important that they know what to collect indirect taxes from. Petrol, cigarettes and alcohol are often targets for taxation, whereby the government can receive an income to spend on public services. These items have a low price elasticity of demand, that is the consumer will be less likely to buy another product should the price be changed. The main determinants of elasticity include: Availability of substitutes, the period of time, the product price in relation to the income of the consumer, the price

  • Word count: 1003
  • Level: AS and A Level
  • Subject: Economics
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Has globalisation widened or narrowed the gulf between rich and poor countries

Has globalisation widened or narrowed the gulf between rich and poor countries? In 1981, the Brandt Commission reported on world development and concluded that the world consisted of two parts: a wealthy "North" in which a large proportion of the world's wealth was concentrated and a poorer "South" which contains two-thirds of the global population but a smaller proportion of the world's wealth.1 Figure 1 The North-South Divide as shown by the Brandt Commission in 1981 According to Keohane and Nye globalisation refers to "the process by which globalism becomes increasingly thick"2 and globalism has a number of dimensions. So therefore if we are looking at how far globalisation has affected the gap between the developed world and the developing world then it is important to specify which type of globalism that is being referred to. The focus of my essay will be economic globalism and to what extent this has widened or narrowed the gulf between rich and poor countries. This is because the disparity between rich and poor countries is most apparent in terms of wealth. There are two views of globalisation and inequality. The Washington Consensus is the neo-liberal celebration of globalisation and it sees globalisation as a cure to global inequality because it allows wealth to expand to poorer countries. The second understanding of globalisation and inequality is more pessimistic

  • Word count: 1956
  • Level: AS and A Level
  • Subject: Economics
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Income and Price Elasticity of Demand

A guide for income elasticity of demand Income elasticity of demand measures the relationship between a change in quantity demanded and a change in income The formula IED = % Change in Quantity Demanded % Change in Income Levels The numbers If IED is LESS than 1 it is income INELASTIC. If IED is GREATER than 1 it is income ELASTIC. Higher the IED the more responsive demand is to a change in income. Lower the IED the less responsive demand is to a change in income. Plus or Minus Significance NEGATIVE - = INFERIOR GOOD POSITIVE + = NORMAL GOOD Inferior Good Inferior goods are when demand for a product falls, income levels rise. Normal Good Normal goods are when demand for a product rises, income levels rise. Necessities and luxuries are normal goods. Examples of necessity would be toilet roll. Examples of luxury goods are expensive cars and designer clothes. Between 0 and +1 is a normal necessity. Greater than +1 is a superior/luxury good. Example In this current climate people income decreased and started to buy more inferior goods. E.g. Before the recession people would have bought Andrex toilet roll, however in the recession they would have bought supermarkets own brand toilet roll which would be a lot cheaper. Usefulness Using the IED formula a business can work out the change in quantity demand if the income level changes. This way they can

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  • Word count: 590
  • Level: AS and A Level
  • Subject: Economics
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Australia's Relations with Japan and other Pro-Whaling Nations

Australia's Relations with Japan and other Pro-Whaling Nations Introduction Commercial whaling is a very controversial issue. The question whether or not to whale is an issue with many factors. Commercial whaling is the focus of a debate between pro-whaling nations such as Japan and Norway and anti-whaling nations like Australia, United States and the UK. Both sides present justifiable arguments both for and against commercial whaling Arguments for whaling Countries such as Japan, Greenland, Iceland and Norway claim they are reliant on whaling for economic and cultural reasons.Whale meat provides a key source of protein in the diet and the sale of whale meat and products made from whales provides an economic foundation for these communities. These societies are centred on a cultural tradition of whaling. This small-scale coastal whaling is prohibited by the International Whaling Commission (IWC). Some argue this is causing continuing social and economic hardship for people whose traditional customs and lifestyle directly relate to the whaling culture. Japan claims that small-scale exploitation of whales pose no threat to whale populations yet is critical to the survival of their society. Japan along with many nations have a long history and tradition of whaling and it is part of their culture. Anti-whaling countries such as Australia, the UK and the United States are

  • Word count: 958
  • Level: AS and A Level
  • Subject: Economics
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How the process of Globalisation might have affected the position of labour in industrialized and developing countries.

EO314 Issues in International Economics How the process of Globalisation might have affected the position of labour in industrialized and developing countries. Submitted to Frank Brouwer London Metropolitan University December 2nd, 2004 By Iolanta Lyebyedyeva ID: 02019931 This essay aims to explain the question how the process of globalisation might have affected the position of labour in industrialised and developing countries with the focus on effects of trade on skilled and low/unskilled workers, especially how on how trade affects employment and wages, in developed and developing countries. As a starting point, it might be useful to look at what is actually meant by Globalisation, because many people definitely know whether they are for or against it, without even considering what exactly it is. There are hundreds of definitions of globalisations. Following a British sociologist Martin Albrow (1990) "globalisation refers to all those processes by which the peoples of the world are incorporated into a single world society, global society".1 According to Robert Cox (1994) globalisation includes "the internationalizing of production, the new international division of labour, new migratory movements from South to North, the new competitive environment that generates these processes, and the internationalizing of the state...making states into agencies of the

  • Word count: 4752
  • Level: AS and A Level
  • Subject: Economics
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Pakistan is in the grip of a serious energy crisis that is affecting all sectors of the economy and the various segments of the society. As the situation stands to-day, there are hardly any immediate solutions to resolve the issue.

AN OVERVIEW Crisis' has been coined by a Greek word which means 'decisive moment'. Crisis is declared when something has gone to a level where an action must be taken to avoid complete disaster or breakdown. Energy is essential for the maintenance and development of the quality of human life as well as for economic activities. To maintain accelerated growth momentum, the economy needs reliable, uninterrupted and affordable supply of energy. Pakistan is in the grip of a serious energy crisis that is affecting all sectors of the economy and the various segments of the society. As the situation stands to-day, there are hardly any immediate solutions to resolve the issue. A change of attitude and a change of life style is needed at the national level which should be triggered by the ruling elite and followed by all segments of the society that have access to electricity. At best there could be some short and long-term solutions to the crisis but they need immediate planning and execution with an enormous investment. SOURCES OF ENERGY : Pakistan's commercially exploitable energy resources consist of coal, gas, oil and hydropower, and a large base of traditional fuels in the form of fuel wood, agricultural and animal wastes. Pakistan does not have adequate energy reserves . Pakistan has to import large quantities of oil to meet its energy requirements There has been consistent

  • Word count: 3702
  • Level: AS and A Level
  • Subject: Economics
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The Causes of Global Inequality

The Causes of Global Inequality In an attempt to explain the existence of global inequality, poverty and possible change, it will be necessary to look back in history to the era of the British Empire and the subsequent collapse of colonialism, and as some would argue the exploitation and enslavement of both human and natural resources. Over the years academics have sought to explain and understand why global inequality still exists today, with millions of people worldwide living in absolute poverty despite Western governments attempts at alleviating the suffering in these 'Third World' countries despite the creation of powerful bodies such as the World Trade Organisation. During the 1960's politicians and social scientists especially in the USA and Europe were concerned with these issues, and realised the advantages to be gained if they could penetrate new markets and at the same time gain some control of these newly independent nations. The views of key theorists such as WW Rostow, Gunder Frank and their contemporaries will be discussed to explain poverty and inequality. More recently since 1970's/1980's there has been what sociological academia perceive as an 'Impasse' which has resulted in a crisis - the old paradigms of Dependency and Modernising Theories have reached a dead end. The general consensus being that until there are new theories, development will have

  • Word count: 3906
  • Level: AS and A Level
  • Subject: Economics
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Outline the evidence presented in the data which suggests that the UK has lost international competitiveness in recent times.

The UK's International Competitiveness .) Outline the evidence presented in the data which suggests that the UK has lost international competitiveness in recent times (10 marks) As figure 97.11 shows, there was an overall decline in employment in tradable goods and services in all regions of the UK apart from the South West, South East and East Anglia. The tradable goods and services included agriculture, mining, manufacturing, external financial and business services and the armed forces. With the index being 100 in 1971, employment in tradable goods and services decreased to 85 by 1988. This then rose to 87 in 1992 but then fell again to 81 in 1998. So overall employment in tradable goods and services fell by about 19. However, there was also a decline in employment in non-tradable services. During 1971-1998 the graph shows fluctuations but the decline was not as dramatic as tradable goods and services as overall employment in non-tradable services only decreased by 3 from 100 to 97. Figure 97.12, the innovation index of 1996, shows that the UK came 13th out of 17 industrial nations in terms of its ability to derive commercial benefits from science and technology. The innovation index is based on factors such as number of patents granted, inventions and research and development. The low rank in 1996 is due to the UK having only 87 international patents per 1,000

  • Word count: 1470
  • Level: AS and A Level
  • Subject: Economics
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