Globalisation :: miscellaneous

Globalisation Globalisation is a term, which has invoked extensive academic debate over its impact and credibility, giving rise to a number of perspectives harboured by their respective scholars. Resulting from this division is a lack of universal acceptance towards a single definition beyond broad descriptions such as increased global interconnectedness.† Hence in order to gain an understanding of the phenomena it is necessary to distinguish between its two major forms, and the various agents involved. Nationalism In The Global VillageINTRODUCTIONWith the dawning of the information age there has been a shrinking of relative distances between people and places all over the world. With an increase in international communication comes an increase in cultural sharing. Cultures all over the planet reflect influences of neighboring cultures and other international trading partners. As these and many other factors work towards creating a global village many people are baffled by the increase in nationalism. Nationalism is a highly emotional phenomenon and as such is very unpredictable. Nationalism is far beyond its peak and the current rise is likely only an indicator of the transitional stage of globalization.GLOBAL VILLAGEToday it is common to here the term "global village" used in every day conversation. It is also common to here someone say, "What the hell is the global village?" The global village is the idea that the world and its people form an interconnected social whole, a village of common interests and concerns, linked by global communication, media, and rapid international transportation. The global village has emerged via the birth of the information age. Technological advances have continually stretched the bounds of our communication abilities and by using improving cellular phone technology or the Internet any individual can interact with another individual from a completely different culture. Since it is so easy and affordable to engage in these cross-cultural experiences, more and more people have been doing so. Cross-cultural exchanges often rise from or result in common interests or concerns developing. For example, international companies have a vested interest in the economies of the various countries in which they conduct business. The stronger the economies the better business will be. This is the sort of common interest and concern that the global village encompasses. All cultures are continually evolving and the information age has increased the ability of one culture to influence another culture. As all cultures begin to adopt features of other cultures the population of the planet begins to develop a homogenous culture.

Principles of Microeconomics Essay

1) If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about: B. 0.4 2) A basic difference between microeconomics and macroeconomics is that microeconomics C. examines the choices made by individual participants in an economy, while macroeconomics considers the economy’s overall performance 3) An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in B. macroeconomic research 4) After several years of slow economic growth, world demand for petroleum began to rise rapidly in the 1990s. Much of the increase in demand was met by additional supplies from sources outside the Organization of Petroleum Exporting Countries (OPEC). OPEC, during this time, was unable to restrain output among members in its effort to lift oil prices. What best describes these events? C. The rise in demand shifted the demand for oil to the right. As price rose, the quantity of oil supplied rose. 5) Price elasticity of demand is the: D. percentage change in quantity demanded of a good divided by the percentage change in the price of that good 6) The distinction between supply and the quantity supplied is best made by saying that B. supply is represented graphically by a curve and the quantity supplied as a point on that curve associated with a particular price 7) When labor is the variable input, the average product equals the D. quantity of output divided by the number of workers 8) The increase in output obtained by hiring an additional worker is known as B. the marginal product 9) Which of the following is the best example of a long-run decision? A. An automobile manufacturing company is considering whether or not to invest in robotic equipment to develop a more cost-effective production technique. 10) Other things being equal, when average productivity falls, D. average variable cost must rise 11) According to economist Colin Camerer of the California Institute of Technology, many New York taxi drivers decide when to finish work by setting an income goal for themselves. If this is true, then on busy days when the effective hourly wage is higher, taxi drivers will B. work fewer hours than they will on slower days 12) A firm’s demand for labor is derived from the D. demand for its output 13) Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries, but he is considering hiring a fourth driver. If he hires a fourth driver, he can schedule breaks and lunch hours so all three vans are in constant use, allowing him to increase deliveries per day from 60 to 75. This will cost an additional $75 per day to hire the fourth driver. The marginal cost per delivery of increasing output beyond 60 deliveries per day B. is $5 14) Expected economic profit per unit is equal to C. the difference between expected average price and expected average total cost 15) If a firm in a perfectly competitive market experiences a technological breakthrough, B. other firms would find out about it immediately 16) A significant difference between monopoly and perfect competition is that C. the monopolist’s demand curve is the industry demand curve, while the competitive firm’s demand curve is perfectly elastic 17) A monopoly firm is different from a competitive firm in that C. a monopolist can influence market price while a competitive firm cannot 18) The difference between a perfectly competitive firm and a monopolistically competitive firm is that a monopolistically competitive firm faces a D. downward-sloping demand curve and price exceeds marginal cost in equilibrium 19) As long as marginal cost is below marginal revenue, a perfectly competitive firm should A. increase production 20) Because a monopolistic competitor has some monopoly power, advertising to increase that monopoly power makes sense as long as the marginal C. benefit of advertising exceeds the marginal cost of advertising 21) In the Flint Hills area of Kansas, proposals to build wind turbines to generate electricity have pitted environmentalist against environmentalist. Members of the Kansas Sierra Club support the turbines as a way to reduce fossil fuel usage, while local chapters of the Nature Conservancy say they will befoul the landscape. The Sierra Club argues that wind turbines B. reduce negative externalities elsewhere in the economy 22) When negative externalities are present, market failure often occurs because A. the marginal external cost resulting from the activity is not reflected in the market price 23) A merger between a textile mill and a clothing manufacturing company would be considered a B. vertical merger 24) A merger between a baby food company and a life insurance company would be considered a C. conglomerate merger 25) The fact that U.S. managers’ salaries are substantially greater than those of comparable managers in Japan may be related to A. an increase in the demand for CEOs 26) Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person’s income to provide the same level of coverage as before. What can be said about deadweight loss in each case? A. Taxing income results in deadweight loss, while purchasing health care on one’s own does not result in deadweight loss. 27) The U.S. textile industry is relatively small because the US imports most of its clothing. A clear result of the importation of clothing is D. the price of clothing is lower than it would be without imports 28) Countries can expect to gain from international trade as long as they B. specialize according to their comparative advantage 29) Which of the following is an example of the law of one price? D. Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency. 30) From the point of view of consumer and producer surplus, what problem may be created when a country subsidizes the cost of energy to consumers to help alleviate the burden of higher energy costs? C. It encourages the consumption of too much fuel at the expense of other  goods.

Nozicks Notion Of Historical Entitlement - 1728 Words

Nozick asserts that the state should not be able to prohibit capitalist transfers between consenting adults. In this paper I will argue that this claim is true in all circumstances regardless of the resulting inequality. I will begin my analysis by explaining why it is that Nozick makes this claim. This explanation will focus on articulating his detailed description of just acquisition and transfer of holdings. I will then move on to describe how Nozick’s conclusion regarding just transfers results in him forbidding state intervention restricting capitalist acts. The focus here will be on detailing how Nozick’s notion of historical entitlement combats the competing theories of justice in holdings, namely theories composed of end-state principles and patterned principles. Finally, I will address common concerns and anticipate rebuttals to Nozick’s claim and show how they are unsuccessful in their attempts. Nozick believes that a state should not prohibit co nsensual transfers between fit individuals due in part to the sacrifice of liberty that it entails. Nozick puts forth a theory of entitlement that does not include such a sacrifice. It consists of two main components: the principle of justice in acquisition and the principle of justice in transfer. The two principles together bring about a state of justice in holdings. Justice in transfer is concerned with answering the question of how a person may rightfully transfer a holding to another individual as well asShow MoreRelatedNozicks Argument Against Redistributive Taxation1621 Words   |  7 PagesRobert Nozick, in Anarchy, State and Utopia develops his central idea called the ‘entitlement theory.’ This concept states that redistribution of goods is only considered justified if it has the consent of the owner of the holdings. He mentions here that the only State that is justified in carrying out any duties is the ‘minimal state.’ The minimal State is o ne that is only limited to the enforcement of of contracts and protection of individuals, etc. Any more intervention from the State, accordingRead MoreThe Relationship Between Justice and the Good1551 Words   |  7 Pagesthat we can only agree to an equal distribution where a level of inequality will be to the advantage of everyone. Rawls suggests that there are two principles of justice (Rawls, 196). First is the â€Å"equal liberty principle† which guarantees equal entitlement to a full set of rights and liberties to every individual with a smaller set of liberties to the state (Rawls, 198). This, he says is necessary for fundamental interests of free and equal citizens to protect their opportunity and exercise theirRead MoreRawls Primary Principles Of Justice1321 Words   |  6 Pagesdistribution is. In a opposition to Rawls, Nozick disputes the idea of defining justice as a pattern of holdings. Nozick argues that a theory of justice must be 1) a patterned/unpatterned theory of justice or 2) operate on historical grounds. With this, Nozick presents his entitlement theory which entails a just distribution of wealth that does not require any pattern, rather how it was acquired (historically) and the end-result of the transfer. Nozick then directs his argument to the importance of â€Å"justiceRead MoreNozick and Rawls3588 Words   |  15 PagesWhich is the most appealing Nozick’s entitlement theory or Rawls theory of distributive justice? The defence of liberal ideologies emerged not long after the Second World War, prior to this there had been little faith in liberal values during the 1920’s and 1930’s, however after the war there appeared to be a renewed defence for liberal thinking ranging across a variety of ideological theories. To the present day these liberal perspectives continue to influence political thinking with regardsRead MoreRawls Theory Of Justice1905 Words   |  8 PagesRousseau, and Immanuel Kant in understanding that mankind come together to make social contract with one another for the greater benefit and prosperity to each their own. However, Rawls version of the original position does not necessarily follow historical rules. The principles are not tentative but are in fact hypothetical, for he does not claim that people automatically assume these principles as absolution. Rather, people might be willing to accept these principles based on the conditions beingRead MoreCriticisms Against Ethical Theories8474 Words   |  34 Pagesit? And, since happiness is just an emotion which can be chemically induced, isnt it a bit silly to make it the highest order objective? It is quite strange that many people will accept the pursuit of happiness as one of lifes fundamental entitlements, yet should suddenly develop ascetic inclinations as soon as the quarry appears obtainable. It seems they dont have a problem with someone trying to achieve happiness, rather they are only concerned when that someone has a reasonable prospectRead MoreJurisprudential Theories on IPR13115 Words   |  53 Pageson a quote from Hegel: Every man has the right to turn his will upon a thing or make the thing an object of his will, that is to say, to set aside the mere thing and recreate it as his own.[38]  European intellectual property law is shaped by this notion that ideas are an extension of oneself and of one’s personality.[39]Personality theorists argue that by being a creator of something one is inherently at risk and vulnerable for having their ideas and designs stolen and/or altered. IntellectualRead MoreWhat’s Wrong with Executive Compensation?6661 Wo rds   |  27 Pagessuggest that the pay scales of any of these occupations should somehow be calculated or constrained as a multiple of another? Of course not – not if we are serious about capitalism. A fundamental tenet of the market economy we participate in is the notion that different jobs with different educational requirements and differing levels of expertise and responsibility should probably be compensated differentially. It is entirely possible, of course, that the pay scale of a certain occupation or position