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An Article Critique: Trade and Labour Standards, 2008.
A critical review of the article "Trade and Labour Standards--Theory, New Empirical Evidence and Policy Implications" by Vivek Dehejia and Yiagadeesen Samy.
804 words (approx. 3.2 pages), 1 source, MLA, £ 20.95
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Abstract
The paper examines the article "Trade and Labour Standards--Theory, New Empirical Evidence, and Policy Implications" where the authors discuss labour standards in high standard and low standard countries, potential links between these labour standards and each market's comparative trade advantages and the relationship between labour standards in general and export markets. The paper shows how the authors are adept at proper research methodologies but maintains that they need to refine their topic and make the subject of the research somewhat more useful for the intended audience.
From the Paper
"Labour standards are an important issue within the context of trade negotiations and the policy formulation which accompanies them. The authors do an excellent job of making the relationship between these two concerns readily apparent to even the average reader that may not be intimately familiar with trade related information. The primary concern regarding labour standards in trade negotiations is how they impact a particular market's ability to leverage comparative trade advantages or in how to construct an equitable tariff structure: "Labour interests in high-standards countries argue that low labour standards are an unfair source of comparative advantage, and that increasing imports from low-standards countries will have an adverse impact on wages and working conditions"(Dehejia & Samy 3)."
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Canadian Unions and Globalization, 2008.
This paper explores whether Canadian unions can compete in the global market.
2,229 words (approx. 8.9 pages), 11 sources, APA, £ 49.95
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Abstract
The paper discusses the need for unions to operate on a global scale if they are to protect workers against global forces. The paper shows how Canadian unions are attempting to work at a domestic and international level. The paper argues, however, that Canadian unions still have a long way to go before they can successfully compete on a global scale.
From the Paper
"Unfortunately, in the main the power of Canadian trade unions is being eroded by the forces of globalization. Therefore, Cohen (2000) has pointed out that there is a need for "new international institutions designed to challenge the power of corporations and facilitate transparent and democratic intervention in relation to international trade and investment" (MacBride and Wiseman, 2000, p. 6). Moreover, in the main attempts by the labour unions to fight back against globalized forces of capitalism have been ineffective of misguided. For example, Swenarchuk (2000) points out that the proposal sponsored by the International Confederation of Free Trade Unions (ICFTU) "to include labour 'side-agreements' in international trade and investment treaties" is an inadequate response to the complex problems of a diminishing labour rights in the globalized economy."
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Canadian Business and Labor History, 2008.
This paper analyzes the book "Auto Pact: Creating a Borderless North American Auto Industry" by Anastakis, Dimitry and looks at the history of Canadian business and labor.
2,300 words (approx. 9.2 pages), 1 source, MLA, £ 50.95
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Abstract
The writer of this article discusses that in the book "Auto Pact: Creating a Borderless North American Auto Industry" the author argues that the Automotive Products Trade Agreement (APTA, the "auto pact") signed between Canada and the United States in January, 1965 was really made possible not only by negotiations between the governments but, more importantly, by the intervention of the big three automotive companies, GM, Chrysler, and Ford. The writer maintains that what makes his main argument convincing is that he situates the context of the idea of APTA within the polar opposites that characterized that era in both countries: protectionism versus free trade, nationalism versus continentalism. The writer points out that Anastakis also cites the significant differences in the role of the State in industry between the United States and Canada.
From the Paper
"This is a good example where the author doesn't shy away from citing facts or events that are contrary to his thesis; in fact, this instance supports it because it reveals the lack of perception on the part of the Canadian government (at least) to consider the problem in a larger context with perhaps a different solution. Although government interference is countenanced in Canada (and currently welcomed by the resurgent auto industry), it is anathema in the United States. This was precisely the area in which the confrontation between the two nations would come, and it would be out of this impasse that the idea of APTA was born by a chance suggestion between adversaries."
"Another excellent feature of the author's argument is his ability to highlight the main issues within the details of chronicling the political and economic events."
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Economics and Border Security, 2008.
This paper explores border security and its economic and safety implications.
1,648 words (approx. 6.6 pages), 6 sources, APA, £ 38.95
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Abstract
The paper discusses how border security has been an issue for many countries for some time, from a security and economic perspective. The paper discusses the ramifications of border control for the country being invaded and for the country losing the people. The paper looks at the opening of borders to trade and the U.S., Canada and Mexico's NAFTA agreement that has become for many the symbol of globalization.
From the Paper
"The prevailing attitudes toward immigration and border security were seen as being in conflict with aspects of American economic policy in the era of increased globalization. Critics often see globalization as something that happens to other parts of the world while the governing elites in America benefit. Those who see America as harmed in any way usually do so in terms of American workers thrown out of work because of factories moving to Mexico or China. There are other ways in which Americans are affected by globalization, however, among them when "formerly tightly knit neighborhoods absorb new waves of immigration and the job market changes, to a certain degree prompted by plant closings in favor of cheap labor overseas" (Mittelman, 2002, p. 5)."
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The Asian Financial Crisis, 2008.
This paper analyzes the Asian financial crisis by comparing the economies of South Korea and Malaysia.
2,745 words (approx. 11.0 pages), 6 sources, APA, £ 58.95
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Abstract
This paper explains that, because investors lost confidence, the Asian financial crisis was not just a domestic problem but rather spread to other parts of the, world especially Third World countries. The author posits that the recovery from the crisis was dependent on the macro economy prior to the crisis within each country. The paper relates that South Korea and Malaysia have different internal structures, were at different levels of development before the crisis and have different survival rates with very different 'after crisis' scenarios. The author points out that the crisis in Malaysia was more of a currency crisis, which had spillover effects within other sectors of the macro economy; however, South Korea faced more of a banking crisis. The paper discuses the role of the International Monetary Fund, the government's role in each region and the Asian Monetary Fund to present a policy outline for preventing future crises.
Table of Contents:
Introduction
A Historical Debate
Asian Financial Crisis: A Closer Look at South Korea and Malaysia
Role of the IMF
Figure 1: Malaysia's and South Korean Unemployment Worsened by IMF Policies
Asian Monetary Fund: Policies and Procedures for Future Crises.
Figure 2: Economic Growth, the Main Aim of the AMF: Implications for Asia
From the Paper
"There were a lot of issues that caused the financial crisis. Mainly, investors lost confidence in the Asian market and started to remove capital from South Korea and Malaysia. The onset of the loss of confidence by investors began when the economies, such as Mexico had crises that preceded the Asian crisis. Similarly, the United States was increasing interest rates during the period to lower inflation as part of its monetary policy. Investors prefer to invest in the United States versus Asia, since the former is considered less risky."
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Globalization: Its Effects Upon All of Us, 2008.
The paper looks at globalization and its overall impact upon human beings.
890 words (approx. 3.6 pages), 2 sources, MLA, £ 22.95
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Abstract
The paper discusses the arguments in favor of and against globalization. The paper shows that although globalization offers bright prospects for the future, its advantages depend on establishing effective regulatory apparatuses that protect the vulnerable. The paper concludes that until these protections are set up, globalization can only be considered a mixed blessing.
From the Paper
"Those who trumpet the salutary benefits of globalization often argue that the increased flow of goods, materials, capital and human resources across permeable national borders facilitates an increased information exchange and allows developing countries to access - far more easily than was once the case - the technological innovations and advanced business practices of the developed world. More than that, those who credit globalization for many things insist that the economic, social and intellectual phenomenon that has come to dwarf all others in the last-quarter of the twentieth century (and now in the first few years of the twenty-first) has permitted developing nations (predominantly in the global south) to develop late-industrial or even post-industrial economies of their own - something which, it is frequently argued, can only lead to greater prosperity for everyone. A good example in support of such a stance would be the development of extractive industries in African nations and/or the development of a thriving IT sector in a nation such as India as western countries flood Foreign Direct Investment and technological tools into that land."
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The Canadian Training System, 2008.
This paper discuses the Canadian training system, which is shaped by the human capital theory.
1,055 words (approx. 4.2 pages), 6 sources, APA, £ 26.95
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Abstract
This paper explains that the human capital theory presents humans as a commodities that either attract or dissuade potential employers. The author points out that the success of the Canadian training system, whose goal is to prepare individuals for existing or future openings, depends on an accurate view of economic trends for various kinds of workers and skill sets. The paper states that the Canadian training system continues to refer to ideas of the 1970s or 1980s that becoming qualified in technical fields, presuming one's hard work and ability, will earn a secure job paying high wages and benefits; however, the Canadian training system is not geared to the problem of how to ensure labor flexibility and improved skills and education development of kinds suiting capital in the present labor market.
Table of Contents:
Introduction
Adjustments to be Made
Planning a Future
Concluding Remarks
From the Paper
"Canadians are given a myth of needing to prepare for the new economy; whereas, the new economy seems to need semi-skilled or non-specialist workers and when special skills are needed employers can seek cheap skilled labor supplies abroad, in the well established pattern of international outsourcing. Most jobs that are being created in Canada are low-wage and low-security positions with low-skilled labor most in demand. Of course, this is interesting to reflect upon given an ambitious industry on the part of training colleges, public and private, to suggest that success lies in undertaking new training of some recognized kind."
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Demand and Supply in Relation to Cigarette Smoking., 2008.
An economic analysis surrounding the issues of habitual smoking.
830 words (approx. 3.3 pages), 1 source, MLA, £ 20.95
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Abstract
This paper analyzes issues connected to tobacco use in which the author has focused on microeconomic principles surrounding demand and supply. After analyzing the cigarette market and economic growth the paper creates a logical and coherent model that explores the issue of cigarette consumption. The author has included graphs and diagrams to support the discussion.
From the Paper
"The analysis below presents issue surrounding tobacco use. Everyday I see people smoking cigarettes, and sometimes wonder about using economic analysis to explain this habit. Some may argue that it's a social issue and as such its analysis should fall within the realm of other social sciences rather than economics. Nevertheless, after perusing the chapters of the text, I have been able to use the concept/tools from the economics text to analyze this issue. I have presented the findings below. The analysis focuses on microeconomic principles surrounding demand and supply, and focuses on smaller individual units, since tobacco use is best analyzed within that realm, rather than the broader aggregates that macroeconomics would explore (Miller 3).
"Economics refers to how best to use limited resources to satisfy unlimited once, and centers on the issue of scarcity. That is, because there are limited resources, individual have to make choices, by making choices, there are trade-offs, the cost of the next best alternative after a choice is made, is called the opportunity cost of that particular action (Miller 2)."
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Neural Networks, 2008.
This paper discuses the use of neural networks especially in the area of finance analysis.
3,015 words (approx. 12.1 pages), 6 sources, MLA, £ 63.95
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Abstract
This paper explains that a computer science phenomenon called neural networks, similar to the part of the brain, consist of ways to connect information to produce output that is consistent with the processes. The author points out that recent interest in neural models stems primarily from its nonlinear models that can be trained to map past and future values of the input-output relationship, thus extracting relationships between the data that were not obvious using other analytical tools. The paper stresses that, unlike conventional computers, neural networks have the unique capability of learning. The author relates that the fact that neural networks are trained without the restriction of a model to derive parameters and discover relationships, driven and shaped solely by the nature of the data, has profound implications and applicability to the finance field. The paper includes equations.
Table of Contents:
What are Neural Networks?
Figure 1: Neural Networking and Similarities with the Workings of the Human Brain
The History of Neural Networks
Figure 2: Multilayered Neural Network Model adapted from Stergiou and Siganos
Why Use Neural Networks?
Neural Networks Versus Conventional Computers
Figure 2a: Multilayer Perceptron Neural Network
Neural Networks in Finance
Time Series Analysis
Figure 3: Stock Market Data from the New York Stock Exchange for Newmont Mining: Random Walk?
Stock Market Analysis
Capital Budgeting and Risk
Figure 4: General Modeling of Neural Networks for Financial Capital Markets (Inclusive of Capital Budgeting and Risk Analysis)
Financial Forecasting
The Future of Neural Networks: A Critical Review
From the Paper
"Capital budgeting is one of the most important functions of financial management. It encompasses a process of planning expenditures on assets whose cash flows are expected to extend beyond one year. A company with growth rates and profit margins such as that are dictated by capital expenditure and investment cannot afford to ignore the importance of capital budgeting. Erroneous forecasts of asset requirements can have serious consequences, Therefore there is always a need for complex and accurate models to dictate the relationship between variables."
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Globalization and Exploitation in the Name of Free Trade, 2008.
This paper presents the argument that globalization is exploitation in the
name of free trade.
3,072 words (approx. 12.3 pages), 10 sources, MLA, £ 63.95
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Abstract
By examining information pertaining to recent economic history and policies, this paper analyzes economic globalization and the dangers of exploitation it imposes . The paper illustrates how the increasing acceleration and intensity of economic globalization in recent years has already inflicted destructive economic, political, social and cultural consequences upon millions of people around the world. The paper argues that the ultimate result of globalization will be an entrenched global economy that further empowers and enriches the interconnected economic and political establishment in every country and further impoverishes the powerless and the poor.
From the Paper
"The ongoing pattern of economic globalization first emerged in the early 1970s, although its origins lie in the Bretton Woods Agreement of 1944 and the immediate post-World War II era. For more than two decades, roughly between 1945 and 1970, the combined effects of a global marketplace and the welfare state produced a golden economic era for people in almost every socioeconomic bracket in North America and Western Europe. (IMF)
"For awhile, income inequality declined and most people saw their standards of living improve as a consequence of economic growth, moderately progressive income taxes, and the expansion of income transfer programs. People living in the United States and Western Europe benefited the most from prevailing economic and trade policies, but even in the developing world, poverty and unemployment declined in the early years of globalization."
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The Shipping Repair Industry, 2008.
An overview of the shipping repair industry in America and how it deals with the opportunities and threats within the economy.
1,059 words (approx. 4.2 pages), 6 sources, APA, £ 26.95
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Abstract
This paper examines how the shipping repair sector is affected by many macroeconomic variables, since it plays a vital role in transportation, which acts as a liaison for international trade and growth sectors. The paper looks at how changes in macroeconomic policies have a direct impact on the activities within the shipping sector and how the interconnectedness of this particular industry makes it important to the overall sustenance and development of the economy.
Outline:
Overview of the Shipping Repair Industry
Macroeconomic Variables that Affect the Shipping Repair Industry
From the Paper
"Ship repair activities make a substantial contribution to most economies that they are a part of. In fact, the United States (U.S.) ship repair sector in 2001 contributed to the economy by increasing U.S. output by $11 billion, creating over 147,000 jobs, increasing personal income by $9.4 billion, and increasing tax revenues by $3.4 million, (LECG, 2002, p.1). There are some key industry related activities that affect the ship repair industry. These variables in turn are connected to various macroeconomic variables, (Ocean Shipping Consultants, 2002, p.1). "
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Commodity Fetishism, 2008.
A discussion of the significance and implications of commodity fetishism in terms of capitalism and democracy.
1,685 words (approx. 6.7 pages), 3 sources, MLA, £ 38.95
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Abstract
This paper examines commodity fetishism, a central tenet in Marxist theory, as well as crucial cornerstone in globalization. The paper claims that despite this central importance to Marxist theory, commodity fetishism is too often overlooked or misinterpreted by social and economic theorists who employ (or criticize) Marxist theoretical approaches. As such, there has been a general lack of understanding regarding how commodity fetishism influences the development and manifestation of advanced, or late, capitalist societies. The paper aims to unveil the meaning and significance of commodity fetishism, particularly in order to reveal what this concept can tell us about human relations under capitalism, freedom, ideology, equality, and democratic ideals. In the end, the paper concludes that commodity fetishism only demands that all social relations be conducted through the marketplace and through the medium of commodity exchange, but has no interest in liberty or democracy beyond this point, a realization that should give pause to claims that capitalism is the harbinger of democracy.
From the Paper
"In this way, commodity fetishism is more than just an ideological category that is a part of capitalism--instead, it is inseparably linked to capitalism, being a component without which capitalism cannot function (Wenning par. 11). Commodity fetishism dictates that social relations will be defined in terms of the values placed on commodities, making the commodities a crucial part of all social relations in a capitalist society. Commodity fetishism occurs because under capitalism the medium of exchange of the whole of individuals' material lives is the commodity. One trades his or her labor--a kind of commodity--for currency--another kind--which is then exchanged for other commodities no longer produced by the individual or even the community. In these instances, it is only commodities that shift hands as they are exchanged according to the value that is placed in them by, what Marx deems, a fetishizing impulse. The value of commodities is, to a large degree, utterly arbitrary. A tiny diamond is worth far more than a loaf of bread, even though the latter is much more valuable and necessary in a practical sense in the day-to-day life of an individual. Capitalism fetishizes commodities and imbues them with values completely out of proportion to their function or usefulness to individuals or communities."
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Domestic Travel in the US, 2008.
An examination of the correlation between disposable income and domestic travel.
1,290 words (approx. 5.2 pages), 6 sources, MLA, £ 30.95
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Abstract
This paper's aim is to determine the true nature of the relationship between disposable income and domestic travel. While examining the main hypothesis of whether increases in disposable income cause an increase in domestic travel, the paper also tests the sub-hypothesis whether domestic travel is a normal or luxury good. This paper examines both of these issues concurrently using demand and supply analysis. The paper concludes that the literature survey does suggest that there is a positive relationship between personal disposable income and domestic travel. The paper also notes , however, that it should be understood that a complete and unbiased model of domestic travel entails looking at all determinants of travel as a supposed explanatory variable before the relationship between personal disposable income and domestic travel can be analyzed.
Outline:
Literature Survey
Theory and Hypothesis: Effect of Disposable Income on Domestic Travel
Graph: Domestic Travel and Disposable Income
From the Paper
"Research that has centered on domestic travel, began as early as the 1960's, especially in wake of the fact that in many developed countries citizens were spending excessively on travel. Empirical studies by Gray found that disposable income was a major determinant of travel. Gray's analysis was an econometric model that included explanatory variables such as the foreign exchange rate, fare payments abroad, and travel spending by local residents. Gray's work also included another element that was absent in other papers, that is, Gray found that the prices of goods and services while traveling were an important determinant of travel. This particular model is important to the testing of the relevant hypotheses since, it gives a clear picture as to what the complete model of domestic travel should entail as explanatory variables. It is therefore less likely to get a biased determinant if all the necessary independent variables are included in the model; Gray's research paper dictates what these variables should be."
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The International Monetary Fund's Loans Policy, 2008.
A discussion of how the International Monetary Fund's policy on conditional loans hurts rather than helps the economies of developing nations.
2,325 words (approx. 9.3 pages), 11 sources, APA, £ 50.95
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Abstract
The paper reviews the policy of the International Monetary Fund (IMF) to impose stringent conditions upon the loans it releases to developing nations. The paper pays especial attention to why the IMF approach hurts developing nations and how the lending policy of the Fund acts as a sort of neo-colonialism that perpetuates north-south global imbalances. Finally, the political nature of the IMF and how this manifests itself in the loan conditions of the Fund is touched upon. In the end, the paper maintains that the IMF would serve everyone better if it would narrow its scope of activities and focus on preventing fiscal crises rather than aggravating them in the world's poorest states.
From the Paper
"The debilitating impact of IMF loan policies upon developing nations does great harm in a host of areas, but it is arguable that the greatest impact is felt in the realm of business-labour relations. To wit, the International Monetary Fund's unwavering commitment to "labour-market flexibility" has meant that labour laws and wage standards have been revised dramatically downward in nations that are already shouldering heavy loan obligations that they must wonder if they can ever pay off. According to a 1995 United Nations Trade and Development Report which Cavanagh and his team seize upon, the new "flexible" labour laws do not encourage an increase in productive capacity, and they surely do not encourage the creation of work. Instead, they make firing workers easier and they reduce the ability of unions to protect vulnerable employees (Cavanagh et al, 2000). In the end, the devastating reality for struggling men, women and (sometimes) children in poverty-stricken nations desperately trying to extricate themselves from one problem after another is that their governments' reliance upon IMF loans makes their job security, working conditions, wages and benefits (such as they are) entirely dependent upon the capricious whims of foreign corporate mavens who know that they can count upon the IMF to work on their behalf."
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