Nobel Prize
•Download as PPTX, PDF•
1 like•201 views
Paul Krugman was awarded the 2008 Nobel Memorial Prize in Economics for his work developing new trade theory (NTT) and new economic geography (NEG). NTT introduced the idea that countries can trade similar goods if they produce different brands, allowing for increasing returns to scale and consumer preference for variety. NEG built on NTT, explaining that successful countries will see production concentrate in dense, high-income regions and cities. Krugman's work provided new insights into why countries trade and how economic activity locates spatially.
Report
Share
Report
Share
Recommended
John Maynard Keynes. Keynesian economics
John Maynard Keynes was born in 1883 in Cambridge, England to an economics professor. He was a gifted student who attended Eton and King's College at Cambridge. After college, Keynes worked for the British government during World War 1. In the 1930s, he developed his theory of Keynesian economics, which argued that government intervention is needed to increase aggregate demand and stabilize the economy. Keynesian economics influenced governments to take a more active role in stimulating their economies and helped lessen the impact of the Great Depression. However, Keynesian policies faced limitations with high government spending leading to inflation and unemployment in the postwar period.
Evaluation Question 7
The document discusses areas for improvement from a preliminary task to a full product. It identifies five areas that could have been improved: lack of camera movement, too much background noise, a small selection of shots, dull titles, and jerky camera movement. For each area, it describes how they worked to improve upon it for the full product, such as incorporating more dynamic camera movements, reducing background noise by changing locations, including more varied shots, making more interesting titles, and stabilizing camera movement.
Gods of ancients
The document discusses gods from ancient myths. It explains that early humans developed ideas of gods to explain the world's creation and address life's big questions. Their understanding of gods reflected their cultures and experiences. For example, Northern European gods represented weather phenomena while Greek gods personified natural forces and human qualities. The 12 principal Greek gods, called the Olympians, emerged as most important after defeating the Titans. Zeus led them and became king of the gods. Thor was a Norse god of thunder known for his mighty hammer.
Rome
Rome is the capital of Italy with a population of over 4 million people. It has incredible history dating back to its founding in 753 BC by the twins Romulus and Remus, and was the capital of the Roman Kingdom, Republic, and Empire. As the former capital of the Roman Empire, Rome contains many historic monuments built by emperors like the Trevi Fountain and the Colosseum, originally used for gladiator contests, that continue to attract millions of visitors annually.
Kanchi Periva Forum - Ebook # 4 - Towards the path of Enlightenment
This document discusses the concept of enlightenment. It defines enlightenment as emerging free from ignorance, prejudice, and wrong beliefs, and as a journey of learning about oneself and the external world. It states that enlightenment is not confined just to spirituality but also covers other domains. The document notes that becoming enlightened requires focused effort and commitment through a process of rituals, discourses, reflection, and establishing a purposeful life. It provides examples of enlightened sages like Adi Shankara who became enlightened at a young age and made vast contributions through their works.
Research data: what can libraries do?
The document discusses how libraries can help preserve high energy physics (HEP) research data. It describes the data lifecycle in HEP and efforts to make data openly accessible. Libraries can preserve secondary data like documentation, analysis notes, and plots through Inspire, a bibliographic database for HEP. Inspire allows long-term preservation of these data types and links them to related publications. The presenter's institution, DESY Library, is collaborating with HEP experiments to ingest their documentation into Inspire to ensure permanent access.
Pablo
Rome is an Italian city with over 2.8 million inhabitants, making it the largest city in Italy and fourth largest in the European Union. Some of Rome's most famous monuments include the Colosseum, Trevi Fountain, Pantheon, Piazza Navona, and St. Peter's Basilica. When visiting Rome, the author stayed near Piazza Navona, enjoyed pasta as the typical food, and found drinks to be more expensive than in Spain.
Recommended
John Maynard Keynes. Keynesian economics
John Maynard Keynes was born in 1883 in Cambridge, England to an economics professor. He was a gifted student who attended Eton and King's College at Cambridge. After college, Keynes worked for the British government during World War 1. In the 1930s, he developed his theory of Keynesian economics, which argued that government intervention is needed to increase aggregate demand and stabilize the economy. Keynesian economics influenced governments to take a more active role in stimulating their economies and helped lessen the impact of the Great Depression. However, Keynesian policies faced limitations with high government spending leading to inflation and unemployment in the postwar period.
Evaluation Question 7
The document discusses areas for improvement from a preliminary task to a full product. It identifies five areas that could have been improved: lack of camera movement, too much background noise, a small selection of shots, dull titles, and jerky camera movement. For each area, it describes how they worked to improve upon it for the full product, such as incorporating more dynamic camera movements, reducing background noise by changing locations, including more varied shots, making more interesting titles, and stabilizing camera movement.
Gods of ancients
The document discusses gods from ancient myths. It explains that early humans developed ideas of gods to explain the world's creation and address life's big questions. Their understanding of gods reflected their cultures and experiences. For example, Northern European gods represented weather phenomena while Greek gods personified natural forces and human qualities. The 12 principal Greek gods, called the Olympians, emerged as most important after defeating the Titans. Zeus led them and became king of the gods. Thor was a Norse god of thunder known for his mighty hammer.
Rome
Rome is the capital of Italy with a population of over 4 million people. It has incredible history dating back to its founding in 753 BC by the twins Romulus and Remus, and was the capital of the Roman Kingdom, Republic, and Empire. As the former capital of the Roman Empire, Rome contains many historic monuments built by emperors like the Trevi Fountain and the Colosseum, originally used for gladiator contests, that continue to attract millions of visitors annually.
Kanchi Periva Forum - Ebook # 4 - Towards the path of Enlightenment
This document discusses the concept of enlightenment. It defines enlightenment as emerging free from ignorance, prejudice, and wrong beliefs, and as a journey of learning about oneself and the external world. It states that enlightenment is not confined just to spirituality but also covers other domains. The document notes that becoming enlightened requires focused effort and commitment through a process of rituals, discourses, reflection, and establishing a purposeful life. It provides examples of enlightened sages like Adi Shankara who became enlightened at a young age and made vast contributions through their works.
Research data: what can libraries do?
The document discusses how libraries can help preserve high energy physics (HEP) research data. It describes the data lifecycle in HEP and efforts to make data openly accessible. Libraries can preserve secondary data like documentation, analysis notes, and plots through Inspire, a bibliographic database for HEP. Inspire allows long-term preservation of these data types and links them to related publications. The presenter's institution, DESY Library, is collaborating with HEP experiments to ingest their documentation into Inspire to ensure permanent access.
Pablo
Rome is an Italian city with over 2.8 million inhabitants, making it the largest city in Italy and fourth largest in the European Union. Some of Rome's most famous monuments include the Colosseum, Trevi Fountain, Pantheon, Piazza Navona, and St. Peter's Basilica. When visiting Rome, the author stayed near Piazza Navona, enjoyed pasta as the typical food, and found drinks to be more expensive than in Spain.
Big Data and Hadoop Training in Bangalore by myTectra
Big Data and Hadoop training course is designed to provide knowledge and skills to become a successful Hadoop Developer. In-depth knowledge of concepts such as Hadoop Distributed File System, Hadoop Cluster- Single and multi node, Hadoop 2.0, Flume, Sqoop, Map-Reduce, PIG, Hive, Hbase, Zookeeper, Oozie etc. will be covered in the course.
What is Bollywood Dance Fitness
You probably have heard a lot about the newest and one of the most rapidly growing dance fitness program "Bollywood fitness". But do you actually know what Bollywood fitness is all about? What types of exercise is it comprise of? You don't right? BollyArts have you covered!
Find out what is Bollywood dance fitness and what types of exercise it is comprise of.
A presentation of BollyArts - The home of Bollywood dance and fitness in New York.
The Great War
The document discusses the causes and key events of the United States' involvement in World War I. Improved technology and nationalism in European countries set the stage for conflict. The assassination of Archduke Ferdinand provided the spark for war. Though Wilson advocated neutrality, American sentiment favored the Allies and new military technology enabled industrialized warfare. Germany rejected Wilson's peace plan, and intercepting the Zimmerman Telegram convinced the US to enter the war in 1917. The US mobilized its economy and citizens with propaganda. Over 43,000 American service members died, including from the 1918 Spanish flu pandemic. The war greatly increased the federal government's role and cost over $33 billion. It also prompted women's suffrage, which
Ranielyn Guinto - Project in Arts
This project submission includes a portrait, selfie, landscape photography, and documentary work. Ranielyn Guinto submitted this body of photographic work to her instructor Mr. Don Alcantara for a class project in the arts. The diverse collection of photos covers portraiture, self-portraits, landscape scenes, and documentary style images.
Update blog3
The document discusses different tenses in English including simple present, nominal sentences, verbal sentences, and present progressive. The simple present tense is used to express regular or repeated actions, facts, daily activities, and general truths. Nominal sentences use forms of "to be" as the predicate while verbal sentences use verbs. The present progressive expresses an activity that is currently in progress, such as something generally occurring this week or year. Examples are provided for each tense.
Konfigurasi ip (internet protokol) v4
Dokumen ini memberikan panduan konfigurasi IP address pada komputer berbasis Windows. Langkah-langkahnya meliputi memilih perangkat jaringan, mengatur protokol TCP/IP, dan menetapkan IP address, subnet mask, gateway, dan DNS server manual atau menggunakan DHCP. Pengujian dilakukan dengan perintah ipconfig dan ping untuk memastikan konektivitas jaringan.
Target Markets
This document discusses target markets and market segmentation. It defines a target market as the group a business aims its marketing efforts towards and market segments as subgroups within a larger market that share characteristics. It identifies four types of market segments: geographic, demographic, psychographic, and behavioral. The key point is that a target market is a collection of relevant market segments. The document prompts determining market segments through asking questions.
2019
This document discusses the role and activities of an organization within a startup ecosystem. It asks what the organization currently does, including what programs it runs to promote its goals. It considers whether the organization could do more, such as programs to strengthen different parts of the ecosystem and link them together. Examples of potential programs discussed are a talent exchange and an inn demand program. The document raises questions about how such programs could be implemented, whether the organization would run them itself or partner with others, how they would be funded, and how participation could be incentivized. It concludes by asking where the organization may be in five years.
Kicking Away the Ladder -- the “Real” History of Free Trade
Kicking Away the Ladder -- the “Real” History of Free TradeAsia Pacific Intellectual Capital Centre Ltd
This document summarizes the history of trade policies used by developed countries during their early stages of development. It argues that contrary to popular belief, virtually no developed countries practiced free trade when they were developing. Instead, they actively promoted their industries through measures like tariffs, subsidies, and import restrictions. Specifically, it discusses how Britain promoted the wool industry in the 15th century and implemented policies like import tariffs and export subsidies in the 18th century to develop manufacturing. The document aims to debunk the myth that free trade led to development and argues historical evidence shows interventionist policies were more common.Macro.economics by.. Shahi Raz Akhtar
Macroeconomics is the branch of economics that studies the whole economy on a large scale. It examines factors such as unemployment, inflation, and economic growth. While concepts in macroeconomics have been studied for a long time, the term itself was coined in 1933. John Maynard Keynes is often credited with developing early macroeconomic theories to model and describe the behavior of the entire economy. Today, macroeconomics remains a dominant focus in economics, especially regarding investment and financial markets.
208 - Geopolitics & World Economic Systems UNIT 1
The document discusses different models of national economic systems and capitalism. It describes market oriented capitalism, which is based on private property, individual freedom, and competitive markets. Developmental capitalism is characterized by a strong state role in guiding development, while social market capitalism blends market forces with social policies. National economies also differ in the role of the state, purposes of economic activity, and structure of private business. Understanding these differences is important for studying the global economy.
Great depression 1929
The Great Depression was a severe worldwide economic depression that began in the United States in 1929 and lasted until the late 1930s into early 1940s. It originated from the collapse of stock prices and was exacerbated by monetary contraction and protectionist trade policies. Global GDP fell by around 15% between 1929-1932. Unemployment rose dramatically in many nations, including reaching 25% in the US. The Depression had devastating social and economic effects globally and led to political instability in several countries. Most countries began recovering around 1933, though the world did not fully recover until massive government spending during World War II.
Historical And Contemporary Overview Of GlobalizationIntroductio.docx
Historical And Contemporary Overview Of Globalization
Introduction
Although “globalization” became the mot du jour to explain changes in the world economy in the late 1990s, today its meaning is still not very clear. People associate globalization with increased trade, financial volatility, business growth, lower commodity prices, cross-cultural conflict, multinational outsourcing, developing-world poverty (or progress), environmental degradation, speed-up in all aspects of life, and terrorism, among other things. Some of these associations make more immediate sense than others, but all of them point in one way or another to the integration of the world economy. This integration has been more pronounced in the last thirty years than in the previous thirty, but, as we will see, globalization is actually more the rule than the exception over the long-historical haul.
Globalization might have little clear meaning because of its association with freer trade and the fact that Americans hold notably changeable and somewhat contradictory views about free trade. A recent poll conducted by Newsweek suggested that a clear majority of Americans disagreed with the chair of the President’s Council of Economic Advisers’ claim that outsourcing is good for the American economy. At the same time, respondents were roughly evenly divided about whether trade agreements like NAFTA, which enshrine the principles that enable such outsourcing, were good for the economy. Likewise, an Investor’s Business Daily/Christian Science Monitor Poll in 2002 found that a large majority of Americans believed that the foremost goal of trade policy should be to increase exports (rather than restrict imports); at the same time, a similarly large majority said that American trade policy should include restrictions on imports to protect American jobs. As far as the theory of international trade goes, these two views are diametrically opposed. That a majority of polled Americans could claim to hold them at the same time perhaps speaks to the work that needs to be done to clarify the implications of free international trade and globalization.
So what does globalization mean? When did it begin?
Part 1: Before The World Wars
We can begin with a descriptive definition: globalization means economic integration. It means that nominally independent people, places, and institutions become economically important to each other. Japan’s banking sector depends upon the value of US Treasury Securities, which in turn depends upon the competitiveness of US manufacturers, which in turn depends upon the costs of intermediate goods imported from Mexico, and so on. It also means change outside of the strictly economic realm—in the political and cultural realms, for example. (Think: the European Union, animé on the Cartoon Network, anti-war protesters also collaborating to stop human rights abuses in China.) Moreover, globalization is not a new process; it has been fundamental to the modern world econom ...
When did globalisation begin
The document discusses three competing views on when globalization began: 1) Prior to 1492/1498 with a globalized world economy since at least 1500. 2) 1492/1498 marked a "big bang" start to globalization. 3) The world economy was fragmented until the 19th century. The authors aim to empirically test these views by examining commodity price convergence, which would indicate integration of international markets. They develop a framework distinguishing between trade driven by demand/supply factors within countries versus trade driven by integration between countries. Two novel empirical tests are then applied to discriminate between the views, focusing on connections between factor prices, commodity prices, and endowments worldwide.
When did globalisation begin
This document discusses competing views on when globalization began. Some historians argue it began as early as 1500 AD with Columbus' voyage, while others argue globalization only began in the 19th century with falling transport costs. The authors aim to empirically test these views by looking at commodity price convergence between trading partners as evidence of integrated markets. They develop a framework showing how falling trade barriers and transport costs should lead to both rising trade volumes and convergence of commodity prices between countries. The authors then present evidence to determine when clear commodity price convergence first emerged, in order to judge when true globalization began.
The gross domestic product
GDP is the total value of goods and services produced within a country's borders in a specific time period. It is an accurate measure of the size of an economy and GDP growth rate indicates economic growth. GDP can be calculated through the expenditure approach, which sums total consumption, government spending, investment, and net exports, or through the income approach, which sums what everyone earned. Both approaches should produce the same GDP result.
PLEASE provide RESPONSES to EACH post (9 total) must be at least .docx
PLEASE provide RESPONSES to EACH post (9 total) must be at least 150 words
POST ONE
During the financial crisis of 2008 Germany seemed to weather the proverbial storm better than other European states. The global recession of 2008 was caused because of an increase in globalization. All nations are linked to one another. When the American economy faltered, it had a ripple effect throughout the world. Germany was able to make it through the recession unscathed for a few reasons. First, Germany has maintained a strong independent economy. Second, they have used their strong economy to influence those around them, rather than by being influenced. Finally, their reaction to the recession allowed them to succeed, particularly in resisting the urge to lay off skilled employees.
Germany has always been considered to be a trading state. With the advent of globalization Germany was faced with a number of new competitors (Kesselman, Krieger and Joseph, 2013, 156). They were used to being a global leader and were now threatened. Germany had a variety of ways they could react to this thread. In order to stay on top of their game they reinvested in their own economy by focusing on increasing education in order to produce better skilled workers. Thus, their manufacturing exports could continue to dominate. They did this through the promotion of technical schools and paid internships (Kesselman, Krieger and Joseph, 2013, 156). The German economy promoted their citizens in getting better jobs, and thus ensured their skills would continue to be needed and marketable, rather than expendable during times of economic strife. No other nation within Europe promoted this line of economic thinking.
The second reason Germany weathered the storm better than other nations was because they chose to take a position of leadership within the European economic community, rather than being told what to do. Germans were starting to feel the pressures of globalization and the European Union and felt it was beginning to challenge their high standard of living and their well-paid workforce (Kesselman, Krieger and Joseph, 2013, 158). In a reaction to this pressure, the German government signed into constitutional law, legislation they were not going to become economically any further linked with the EU than they already were. This meant they would allow their economy to remain relatively independent. They then used what economic integration that did exist to their advantage. They used the linkages in order to increase their exports to the European markets, and also allowed them to take advantage of new eastern European markets (Kesselman, Krieger and Joseph, 2013, 159). They also helped to establish the Euro through the strength of the Deutsch Marke prior to the recession. The Euro regularly trades above the American dollar and thus allowed the economy to remain strong (Kesselman, Krieger and Joseph, 2013, 161).
Fin.
Froyen_10th Editionn.pdf
This document provides an overview of classical macroeconomic theory. It discusses how classical economics emerged as a revolution against mercantilism, emphasizing real factors over money and stressing free market mechanisms. Key aspects of classical theory included: (1) stressing real over monetary factors in determining output and employment, with money playing a limited role as a medium of exchange; and (2) believing self-adjusting market forces ensured adequate demand for output, making government intervention unnecessary. The document outlines classical economists' aggregate production function model, which related output to capital and labor inputs based on technology.
A-Z MACROECONOMICS SEMESTER
When an unexpected economic shock affects some parts of an economy more than others, it can create problems for policymakers trying to set macroeconomic policies. For example, if some areas depend on oil exports and oil prices plunge, policies aimed at boosting overall demand may not suit the needs of unaffected areas. This is a constant challenge for those setting interest rates for the eurozone given differences in economies within it and their varying exposures to potential shocks.
More Related Content
Viewers also liked
Big Data and Hadoop Training in Bangalore by myTectra
Big Data and Hadoop training course is designed to provide knowledge and skills to become a successful Hadoop Developer. In-depth knowledge of concepts such as Hadoop Distributed File System, Hadoop Cluster- Single and multi node, Hadoop 2.0, Flume, Sqoop, Map-Reduce, PIG, Hive, Hbase, Zookeeper, Oozie etc. will be covered in the course.
What is Bollywood Dance Fitness
You probably have heard a lot about the newest and one of the most rapidly growing dance fitness program "Bollywood fitness". But do you actually know what Bollywood fitness is all about? What types of exercise is it comprise of? You don't right? BollyArts have you covered!
Find out what is Bollywood dance fitness and what types of exercise it is comprise of.
A presentation of BollyArts - The home of Bollywood dance and fitness in New York.
The Great War
The document discusses the causes and key events of the United States' involvement in World War I. Improved technology and nationalism in European countries set the stage for conflict. The assassination of Archduke Ferdinand provided the spark for war. Though Wilson advocated neutrality, American sentiment favored the Allies and new military technology enabled industrialized warfare. Germany rejected Wilson's peace plan, and intercepting the Zimmerman Telegram convinced the US to enter the war in 1917. The US mobilized its economy and citizens with propaganda. Over 43,000 American service members died, including from the 1918 Spanish flu pandemic. The war greatly increased the federal government's role and cost over $33 billion. It also prompted women's suffrage, which
Ranielyn Guinto - Project in Arts
This project submission includes a portrait, selfie, landscape photography, and documentary work. Ranielyn Guinto submitted this body of photographic work to her instructor Mr. Don Alcantara for a class project in the arts. The diverse collection of photos covers portraiture, self-portraits, landscape scenes, and documentary style images.
Update blog3
The document discusses different tenses in English including simple present, nominal sentences, verbal sentences, and present progressive. The simple present tense is used to express regular or repeated actions, facts, daily activities, and general truths. Nominal sentences use forms of "to be" as the predicate while verbal sentences use verbs. The present progressive expresses an activity that is currently in progress, such as something generally occurring this week or year. Examples are provided for each tense.
Konfigurasi ip (internet protokol) v4
Dokumen ini memberikan panduan konfigurasi IP address pada komputer berbasis Windows. Langkah-langkahnya meliputi memilih perangkat jaringan, mengatur protokol TCP/IP, dan menetapkan IP address, subnet mask, gateway, dan DNS server manual atau menggunakan DHCP. Pengujian dilakukan dengan perintah ipconfig dan ping untuk memastikan konektivitas jaringan.
Target Markets
This document discusses target markets and market segmentation. It defines a target market as the group a business aims its marketing efforts towards and market segments as subgroups within a larger market that share characteristics. It identifies four types of market segments: geographic, demographic, psychographic, and behavioral. The key point is that a target market is a collection of relevant market segments. The document prompts determining market segments through asking questions.
2019
This document discusses the role and activities of an organization within a startup ecosystem. It asks what the organization currently does, including what programs it runs to promote its goals. It considers whether the organization could do more, such as programs to strengthen different parts of the ecosystem and link them together. Examples of potential programs discussed are a talent exchange and an inn demand program. The document raises questions about how such programs could be implemented, whether the organization would run them itself or partner with others, how they would be funded, and how participation could be incentivized. It concludes by asking where the organization may be in five years.
Viewers also liked (11)
Big Data and Hadoop Training in Bangalore by myTectra
Big Data and Hadoop Training in Bangalore by myTectra
Titel scriptie: 'Vergunningvrij bouwen 2011'. Ondertitel scriptie: 'Vergunnin...
Titel scriptie: 'Vergunningvrij bouwen 2011'. Ondertitel scriptie: 'Vergunnin...
Similar to Nobel Prize
Kicking Away the Ladder -- the “Real” History of Free Trade
Kicking Away the Ladder -- the “Real” History of Free TradeAsia Pacific Intellectual Capital Centre Ltd
This document summarizes the history of trade policies used by developed countries during their early stages of development. It argues that contrary to popular belief, virtually no developed countries practiced free trade when they were developing. Instead, they actively promoted their industries through measures like tariffs, subsidies, and import restrictions. Specifically, it discusses how Britain promoted the wool industry in the 15th century and implemented policies like import tariffs and export subsidies in the 18th century to develop manufacturing. The document aims to debunk the myth that free trade led to development and argues historical evidence shows interventionist policies were more common.Macro.economics by.. Shahi Raz Akhtar
Macroeconomics is the branch of economics that studies the whole economy on a large scale. It examines factors such as unemployment, inflation, and economic growth. While concepts in macroeconomics have been studied for a long time, the term itself was coined in 1933. John Maynard Keynes is often credited with developing early macroeconomic theories to model and describe the behavior of the entire economy. Today, macroeconomics remains a dominant focus in economics, especially regarding investment and financial markets.
208 - Geopolitics & World Economic Systems UNIT 1
The document discusses different models of national economic systems and capitalism. It describes market oriented capitalism, which is based on private property, individual freedom, and competitive markets. Developmental capitalism is characterized by a strong state role in guiding development, while social market capitalism blends market forces with social policies. National economies also differ in the role of the state, purposes of economic activity, and structure of private business. Understanding these differences is important for studying the global economy.
Great depression 1929
The Great Depression was a severe worldwide economic depression that began in the United States in 1929 and lasted until the late 1930s into early 1940s. It originated from the collapse of stock prices and was exacerbated by monetary contraction and protectionist trade policies. Global GDP fell by around 15% between 1929-1932. Unemployment rose dramatically in many nations, including reaching 25% in the US. The Depression had devastating social and economic effects globally and led to political instability in several countries. Most countries began recovering around 1933, though the world did not fully recover until massive government spending during World War II.
Historical And Contemporary Overview Of GlobalizationIntroductio.docx
Historical And Contemporary Overview Of Globalization
Introduction
Although “globalization” became the mot du jour to explain changes in the world economy in the late 1990s, today its meaning is still not very clear. People associate globalization with increased trade, financial volatility, business growth, lower commodity prices, cross-cultural conflict, multinational outsourcing, developing-world poverty (or progress), environmental degradation, speed-up in all aspects of life, and terrorism, among other things. Some of these associations make more immediate sense than others, but all of them point in one way or another to the integration of the world economy. This integration has been more pronounced in the last thirty years than in the previous thirty, but, as we will see, globalization is actually more the rule than the exception over the long-historical haul.
Globalization might have little clear meaning because of its association with freer trade and the fact that Americans hold notably changeable and somewhat contradictory views about free trade. A recent poll conducted by Newsweek suggested that a clear majority of Americans disagreed with the chair of the President’s Council of Economic Advisers’ claim that outsourcing is good for the American economy. At the same time, respondents were roughly evenly divided about whether trade agreements like NAFTA, which enshrine the principles that enable such outsourcing, were good for the economy. Likewise, an Investor’s Business Daily/Christian Science Monitor Poll in 2002 found that a large majority of Americans believed that the foremost goal of trade policy should be to increase exports (rather than restrict imports); at the same time, a similarly large majority said that American trade policy should include restrictions on imports to protect American jobs. As far as the theory of international trade goes, these two views are diametrically opposed. That a majority of polled Americans could claim to hold them at the same time perhaps speaks to the work that needs to be done to clarify the implications of free international trade and globalization.
So what does globalization mean? When did it begin?
Part 1: Before The World Wars
We can begin with a descriptive definition: globalization means economic integration. It means that nominally independent people, places, and institutions become economically important to each other. Japan’s banking sector depends upon the value of US Treasury Securities, which in turn depends upon the competitiveness of US manufacturers, which in turn depends upon the costs of intermediate goods imported from Mexico, and so on. It also means change outside of the strictly economic realm—in the political and cultural realms, for example. (Think: the European Union, animé on the Cartoon Network, anti-war protesters also collaborating to stop human rights abuses in China.) Moreover, globalization is not a new process; it has been fundamental to the modern world econom ...
When did globalisation begin
The document discusses three competing views on when globalization began: 1) Prior to 1492/1498 with a globalized world economy since at least 1500. 2) 1492/1498 marked a "big bang" start to globalization. 3) The world economy was fragmented until the 19th century. The authors aim to empirically test these views by examining commodity price convergence, which would indicate integration of international markets. They develop a framework distinguishing between trade driven by demand/supply factors within countries versus trade driven by integration between countries. Two novel empirical tests are then applied to discriminate between the views, focusing on connections between factor prices, commodity prices, and endowments worldwide.
When did globalisation begin
This document discusses competing views on when globalization began. Some historians argue it began as early as 1500 AD with Columbus' voyage, while others argue globalization only began in the 19th century with falling transport costs. The authors aim to empirically test these views by looking at commodity price convergence between trading partners as evidence of integrated markets. They develop a framework showing how falling trade barriers and transport costs should lead to both rising trade volumes and convergence of commodity prices between countries. The authors then present evidence to determine when clear commodity price convergence first emerged, in order to judge when true globalization began.
The gross domestic product
GDP is the total value of goods and services produced within a country's borders in a specific time period. It is an accurate measure of the size of an economy and GDP growth rate indicates economic growth. GDP can be calculated through the expenditure approach, which sums total consumption, government spending, investment, and net exports, or through the income approach, which sums what everyone earned. Both approaches should produce the same GDP result.
PLEASE provide RESPONSES to EACH post (9 total) must be at least .docx
PLEASE provide RESPONSES to EACH post (9 total) must be at least 150 words
POST ONE
During the financial crisis of 2008 Germany seemed to weather the proverbial storm better than other European states. The global recession of 2008 was caused because of an increase in globalization. All nations are linked to one another. When the American economy faltered, it had a ripple effect throughout the world. Germany was able to make it through the recession unscathed for a few reasons. First, Germany has maintained a strong independent economy. Second, they have used their strong economy to influence those around them, rather than by being influenced. Finally, their reaction to the recession allowed them to succeed, particularly in resisting the urge to lay off skilled employees.
Germany has always been considered to be a trading state. With the advent of globalization Germany was faced with a number of new competitors (Kesselman, Krieger and Joseph, 2013, 156). They were used to being a global leader and were now threatened. Germany had a variety of ways they could react to this thread. In order to stay on top of their game they reinvested in their own economy by focusing on increasing education in order to produce better skilled workers. Thus, their manufacturing exports could continue to dominate. They did this through the promotion of technical schools and paid internships (Kesselman, Krieger and Joseph, 2013, 156). The German economy promoted their citizens in getting better jobs, and thus ensured their skills would continue to be needed and marketable, rather than expendable during times of economic strife. No other nation within Europe promoted this line of economic thinking.
The second reason Germany weathered the storm better than other nations was because they chose to take a position of leadership within the European economic community, rather than being told what to do. Germans were starting to feel the pressures of globalization and the European Union and felt it was beginning to challenge their high standard of living and their well-paid workforce (Kesselman, Krieger and Joseph, 2013, 158). In a reaction to this pressure, the German government signed into constitutional law, legislation they were not going to become economically any further linked with the EU than they already were. This meant they would allow their economy to remain relatively independent. They then used what economic integration that did exist to their advantage. They used the linkages in order to increase their exports to the European markets, and also allowed them to take advantage of new eastern European markets (Kesselman, Krieger and Joseph, 2013, 159). They also helped to establish the Euro through the strength of the Deutsch Marke prior to the recession. The Euro regularly trades above the American dollar and thus allowed the economy to remain strong (Kesselman, Krieger and Joseph, 2013, 161).
Fin.
Froyen_10th Editionn.pdf
This document provides an overview of classical macroeconomic theory. It discusses how classical economics emerged as a revolution against mercantilism, emphasizing real factors over money and stressing free market mechanisms. Key aspects of classical theory included: (1) stressing real over monetary factors in determining output and employment, with money playing a limited role as a medium of exchange; and (2) believing self-adjusting market forces ensured adequate demand for output, making government intervention unnecessary. The document outlines classical economists' aggregate production function model, which related output to capital and labor inputs based on technology.
A-Z MACROECONOMICS SEMESTER
When an unexpected economic shock affects some parts of an economy more than others, it can create problems for policymakers trying to set macroeconomic policies. For example, if some areas depend on oil exports and oil prices plunge, policies aimed at boosting overall demand may not suit the needs of unaffected areas. This is a constant challenge for those setting interest rates for the eurozone given differences in economies within it and their varying exposures to potential shocks.
Sustainable Economic Systems.pptx
This document discusses sustainable economic systems and provides context around stability and sustainability. It covers several key topics:
1. It discusses the need for more stability in economic systems to avoid large swings and volatility, as well as the importance of sustainability and responsible use of resources.
2. It analyzes different approaches to economic growth, including "roll-over growth" which can create instability, approaches that focus on continuing growth through technology, and those that advocate for amended growth metrics beyond just GDP.
3. It also discusses the failure of convergence between economic models and the need for pluralism, examining different varieties of capitalism systems and arguments against a one-size-fits-all model.
paspsp.pptx
The document provides an overview of the history and development of economics. It discusses how economics began with early trade and economic activities in ancient civilizations. Classical economics from the late 18th to early 19th century emphasized free markets and laid the groundwork for modern economic theory. Key figures discussed include Adam Smith, known as the father of modern economics for his book The Wealth of Nations, and his concept of the invisible hand. The document traces the evolution of economic thought from early theories like mercantilism to modern developments in areas such as Keynesian economics, monetarism, development economics, and the use of big data in the digital age.
Austerity Proponents Give In To New Suggestions
1) Recent elections in France and Greece showed strong support for candidates opposed to austerity policies, as voters have lost jobs and had enough of austerity measures.
2) The austerity measures initiated in European countries to address tough economic times have not worked and have only made the economic depression worse by reducing spending.
3) Krugman suggests the euro should be abolished so troubled economies like Greece and Spain could devalue their currencies to restore competitiveness and exports, pointing to Iceland's recovery after allowing its banks to fail and devaluing its currency.
A-Z MACROECONOMICS SEMESTER
This document discusses how asymmetric economic shocks that affect some parts of an economy more than others can create problems for policymakers trying to set macroeconomic policies. It gives the example of how some economies may be dependent on oil prices, so a drop in oil prices would help them but could hurt other parts of the economy. This is a constant problem for those setting interest rates for the eurozone given the differences among eurozone economies and their potential exposures to different shocks.
A-Z MACROECONOMICS SEMESTER
This document discusses how asymmetric economic shocks that affect some parts of an economy more than others can create problems for policymakers trying to set macroeconomic policies. It gives the example of how some economies may be dependent on oil prices, so a drop in oil prices would help them but could hurt other parts of the economy. This is a constant problem for those setting interest rates for the eurozone given the differences among eurozone economies and their potential exposures to different shocks.
Global Marketing Management - Chapter 1
This document provides an overview of changes in the global market environment and the new challenges they present for global marketers. It discusses the shift from domestic to international to global marketing approaches. Key changes discussed include the rise of new economic powers like China and India, changing consumer demographics and expectations, new technologies, and increased transparency. The document also covers the global economic crisis beginning in 2008 and issues like climate change. It argues that marketers must develop new strategies to engage time-poor and value-conscious consumers in this volatile environment.
Geography and international trade
Geography and international tradeCuerpo Academico Temas Contemporáneos de Teoría Económica y Economía Internacional
This document provides an overview of the intellectual roots and economic rationale of the New Economic Geography (NEG) paradigm. It discusses how NEG builds upon ideas from Marshall-Scitovsky externalities, urban economics including models by Von Thünen and Alonso, and regional science including works by Weber, Christaller and Lösch. The document also examines how NEG addresses how trade openness impacts the spatial distribution of economic activity across countries and regions.Neoliberalism
This document defines neoliberalism and outlines its history and critical analysis. Neoliberalism promotes free market capitalism and limited government intervention. Key institutions like the IMF, World Bank and WTO were established post-WWII to promote neoliberal policies and open markets. However, critics argue these institutions primarily serve developed countries' interests and impose conditions that spread neoliberal ideology rather than balance global economic power. The WTO in particular maintains inequalities despite a democratic structure.
Chapter 8- business trade cycle for BBA
This document discusses business cycles and their various types and theories. It defines a business cycle as a swing in total national output, income, and employment lasting 2-10 years, marked by widespread economic expansion and contraction. Business cycles have four phases: prosperity, recession, depression, and recovery. The document outlines several types of business cycles including Kitchin cycles, Juglar cycles, Kondratieff waves, building cycles, and Kuznets cycles. It also summarizes several theories that attempt to explain the causes of business cycles, such as monetarist, Keynesian, new classical, external shock, long wave, real business cycle, and political business cycle theories.
Similar to Nobel Prize (20)
Kicking Away the Ladder -- the “Real” History of Free Trade
Kicking Away the Ladder -- the “Real” History of Free Trade
Historical And Contemporary Overview Of GlobalizationIntroductio.docx
Historical And Contemporary Overview Of GlobalizationIntroductio.docx
PLEASE provide RESPONSES to EACH post (9 total) must be at least .docx
PLEASE provide RESPONSES to EACH post (9 total) must be at least .docx
Recently uploaded
Main Java[All of the Base Concepts}.docx
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...
BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...Nguyen Thanh Tu Collection
https://app.box.com/s/tacvl9ekroe9hqupdnjruiypvm9rdaneLeveraging Generative AI to Drive Nonprofit Innovation
In this webinar, participants learned how to utilize Generative AI to streamline operations and elevate member engagement. Amazon Web Service experts provided a customer specific use cases and dived into low/no-code tools that are quick and easy to deploy through Amazon Web Service (AWS.)
How to Make a Field Mandatory in Odoo 17
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
clinical examination of hip joint (1).pdf
described clinical examination all orthopeadic conditions .
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptxMohd Adib Abd Muin, Senior Lecturer at Universiti Utara Malaysia
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
How to Create a More Engaging and Human Online Learning Experience
How to Create a More Engaging and Human Online Learning Experience Wahiba Chair Training & Consulting
Wahiba Chair's Talk at the 2024 Learning Ideas Conference. How to Build a Module in Odoo 17 Using the Scaffold Method
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UP
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
The Diamonds of 2023-2024 in the IGRA collection
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
Pengantar Penggunaan Flutter - Dart programming language1.pptx
Pengantar Penggunaan Flutter - Dart programming language1.pptx
Reimagining Your Library Space: How to Increase the Vibes in Your Library No ...
Librarians are leading the way in creating future-ready citizens – now we need to update our spaces to match. In this session, attendees will get inspiration for transforming their library spaces. You’ll learn how to survey students and patrons, create a focus group, and use design thinking to brainstorm ideas for your space. We’ll discuss budget friendly ways to change your space as well as how to find funding. No matter where you’re at, you’ll find ideas for reimagining your space in this session.
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama UniversityAkanksha trivedi rama nursing college kanpur.
Natural birth techniques are various type such as/ water birth , alexender method, hypnosis, bradley method, lamaze method etcWalmart Business+ and Spark Good for Nonprofits.pdf
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
Recently uploaded (20)
BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...
BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...
Leveraging Generative AI to Drive Nonprofit Innovation
Leveraging Generative AI to Drive Nonprofit Innovation
NEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptx
NEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptx
বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
How to Create a More Engaging and Human Online Learning Experience
How to Create a More Engaging and Human Online Learning Experience
How to Build a Module in Odoo 17 Using the Scaffold Method
How to Build a Module in Odoo 17 Using the Scaffold Method
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UP
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UP
Pengantar Penggunaan Flutter - Dart programming language1.pptx
Pengantar Penggunaan Flutter - Dart programming language1.pptx
Reimagining Your Library Space: How to Increase the Vibes in Your Library No ...
Reimagining Your Library Space: How to Increase the Vibes in Your Library No ...
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Liberal Approach to the Study of Indian Politics.pdf
Liberal Approach to the Study of Indian Politics.pdf
Walmart Business+ and Spark Good for Nonprofits.pdf
Walmart Business+ and Spark Good for Nonprofits.pdf
Nobel Prize
- 1. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008 Ashlyn Burr Economics Ms. Goodman
- 2. Born February 28, 1953 . American economist, Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University. He is also a Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times. Paul Krugman
- 3. Economic geography is the study of the location, distribution and spatial organization of economic activities across the world. New trade theory (NTT) is a collection of economic models in international trade which focuses on the role of increasing returns to scale and network effects. Background
- 4. Trade theories, before Krugman, emphasized comparative advantage of countries of different characteristics. However towards the early 20th century, countries with similar characteristics begin trading. There for comparative advantage was hard to uphold. Krugman introduced the idea of countries producing different brands for different products. He believed consumers favored diversity in every product and that production favors economies of scale. This was known as the New Trade Theory. New Trade Theory (NTT)
- 5. Following the NTT, Krugman explains that countries who are successful, from the NTT, will become densely populated and also have higher levels of income. Production will concentrate in a few countries, regions or cities. New Economic Geography (NEG)