...described as “the bumble-bee can fly”, which implies that the Nordic economies can thrive given the seemingly weak productivity incentives associated with a generous social security system, high tax wedges and a nonhierarchical distribution of income. Many critics in fiscal and finances fields have been looking for inward contradictions in the model and they have questioned its sustainability through a variety of hypothesis. Some people stand on the point that the success of Nordic Model was catalyzed by some temporary advantages and historical coincidences, whereby the impressive triumph can fade away easily over time, especially under the impact of globalization and greying population. Actually, the Nordic model has survived macroeconomic crisis in the 1990s and its efficiency and effectiveness have been restored to the normal...
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...Privatization of Prisons Private Prison, Inc. Introduction America has been getting tougher on lawbreakers. This is something that the public long has been demanding. The problem it creates, however, is a shortage of prison capacity to hold the increased numbers of convicted criminals. This has led to: prison overcrowding, sometimes prompting court actions against penal systems; rapidly rising operational outlays; and taxpayer resistance to the cost of new prisons. A partial answer to the problems of prison overcrowding and high costs may be the "privatization" of prisons. Costs and overcrowding problems are the driving force behind the privatization phenomenon. As a national average, it costs roughly $20,000 per year to keep an inmate in prison. There are approximately 650,000 inmates in state and local prisons. This costs taxpayers an estimated $18 billion each year. More than two thirds of the states are facing serious overcrowding problems, and many are operating at least 50 percent over capacity. Cost comparisons between private and government operation of prisons show frequent cost savings under private management. While the national average cost to hold a prisoner in a government run prison is $40 per inmate a day, many privately run prisons charge the governments on average lower fees. U.S. Corrections Corporation (USCC), a private company headquartered in Louisville charges Kentucky charges a daily fee of $25 per inmate. In their first year of operation in...
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...opportunity of going on a long trip with two management gurus from two different eras i.e. the past and present. I am confident that the discussion will be interesting and would teach different management skills, effective solutions being applied for the past and current management problems, and future threats to the management field. This would encourage me to achieve my future business goals. I am keen to acquire knowledge of the past and present management practices; how the management evolved; how it helped in nurturing society’s basic needs; how to predict the management challenges in coming years. The first person would be the mythological figure lord Rama from the classical era of Ramayana. He was a selfless and compassionate leader and provided a concrete vision to his subordinates. Rama and his army courageously defeated powerful Ravana and rescued Sita. Ravana’s army was more powerful, than Rama’s army, and then also Rama believed in his soldiers and motivated his troop to continue the unequal fight, and win against Ravana. It is clear that a good manager is the one who believes in his workforce and respect their skills. From Lord Rama, Maintain resolve during crisis and take proactive steps to meet challenges. I believe that today's business world can benefit a lot from lord Rama’s leadership skills. Thus, I want to learn his secrets to stand courageously in great adversity. I also want to learn the lessons to be a excellent leader from Lord Rama. The second...
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...Humanitarian intervention is a label that has been employed to describe economic to military intervention. The main types of intervention include military, diplomatic, developmental and economic sanction. Mill’s (1859) stated that "There seems to be no little need that the whole doctrine of non-interference with foreign nations should be reconsidered, if it can be said to have as yet been considered as a really moral question at all... To go to war for an idea, if the war is aggressive, not defensive, is as criminal as to go to war for territory or revenue; for it is as little justifiable to force our ideas on other people, as to compel them to submit to our will in any other respect”. This essay will demonstrate how humanitarian intervention efforts are not reaching the goals that are needed to properly aid the disadvantaged nations in developing nations. Economic humanitarian intervention emerged at the end of the Second World War. Historically, it is apparent that foreign aid was used explicitly to prevent the expansion of communism during the Cold War, and not solely to help those in need. It can be argued that humanitarian intervention has done more harm than good to the nations. Northern/ Western countries have enriched themselves from their unequal relation with Southern either under colonialism or under the trading system, which has the Southern nations paying more towards their ongoing debt and receiving an irrelevant amount of foreign aid to help assist these nations...
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...What is the current state of Latin American international relations, particularly relations with the United States? What is unique or “new” about the present situation? How much have we seen before? Make sure to discuss both economic and geo-political/security dimensions, and make reference to at least two historical periods, whether identified by particular doctrines, presidencies, or regimes of international relations. Current state of Latin Ameican international relations with the US— * Emerging independence from US—US is no longer the immediate partner of choice. Regional resentment of US perceived self-serving exercises of power * Economics: * Increased intra-regional economic integration—ALBA, UNOSUR * Expanding economic partners outside the hemisphere—China * Security: * States worry about subordination to the “gringos.” Address problems themselves or with immediate neighbors, rely less on US— * LatinAmerican presidents joined together to defuse tension between Colombia and Ecuador/Venezuela after Colombia’s March 2008 raid inside Ecuador * South American Defense Council (2008)—aimed at institutionalizing and coordinating “defense and security policies in the region while preventing and mediating conflicts within South America * United States: * Economic dependence on the region on the rise— * 50% of US energy imports (largest share accounted for by any region) * 32% of all US FDI ...
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...Globalisation and India. Introduction Indian economy had experienced major policy changes in early 1990s. The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive. The series of reforms undertaken with respect to industrial sector, trade as well as financial sector aimed at making the economy more efficient. With the onset of reforms to liberalize the Indian economy in July of 1991, a new chapter has dawned for India and her billion plus population. This period of economic transition has had a tremendous impact on the overall economic development of almost all major sectors of the economy, and its effects over the last decade can hardly be overlooked. Besides, it also marks the advent of the real integration of the Indian economy into the global economy. Now that India is in the process of restructuring her economy, with aspirations of elevating herself from her present desolate position in the world, the need to speed up her economic development is even more imperative. And having witnessed the positive role that Foreign Direct Investment (FDI) has played in the rapid economic growth of most of the Southeast Asian countries and most notably China, India has embarked on an ambitious plan to emulate the successes of her neighbours to the east and is trying to sell herself as a safe and profitable destination for FDI. Globalization has many meanings...
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...Pakistan is not out of the woods By Abdul Khaliq (CADTM Pakistan) Almost a year ago in August 2008, Pakistan was at the brink of default. Its foreign exchange reserves were hitting the bottom rock of $4 billion, depleting rapidly in the range of $250 to $330 million weekly, which were hardly sufficient to fulfill requirements of one month of imports. Pakistan’s sovereign debt and liabilities were the riskiest, which had crossed the $45 billion mark. Pak rupee had depreciated to 23 per cent. The gap between balance of trade was widening to the alarming extent. Poor law and order situation was scaring away the investors. Financial analysts were predicting Pakistan teetering on the edge of solvency, terming the situation as a natural consequence of Pakistan’s support to US-led war on terrorism. It was a tough time for a new PPP government. With begging bowl, Pakistan was imploring before Saudi Arabia and China to escape the impending default, but it could get nothing substantial. Finding no other option the desperate Pakistan decided to knock the IMF door. Despite strong opposition from many in Pakistan, the government finally entered into $7.6 billion Stand By Arrangement (SBA) loan with the Fund in November 08. A recent report by The Economist (April 23rd 2009) “Full Fear and Credit: Pakistan’s Political instability brings macroeconomic calm” claims that Pakistan has unique exemption from ill effects of the global contraction and under IMF program it has only...
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...Neoliberalism and the global financial Crisis Introduction The fusion of neoliberal beliefs and the western society started in the early 1970’s, it has incorporated in the society to such an extent that it can be portrayed as being impending. For more than forty years now neoliberalism has controlled governments, technology, housing and financial sector and has impacted our society in destructive ways. Neoliberalism reached a new height after the 2008 financial crisis leaving recession as an aftermath. Neoliberalism as explained by Harvey (2005) is a model of private enterprise which concentrates on the economy and its deregulation to empower a free market based monetary framework. Hillyard and Tombs (2004) see neoliberalism as a destruction breeding form of capitalism which they think makes a commanding dispute for, the state demanding to be considered in charge of methodically creating destruction. Neoliberalism as indicated by David Harvey is a "hypothesis of political monetary works on recommending that human prosperity can best be progressed by the augmentation of entrepreneurial opportunities inside of an institutional system portrayed by private property rights, individual freedom, unhampered markets, and free trade" (2005:2). The idea of neoliberalism in western social orders is connected with the Thatcher government in the UK and the Reagan government in the US which came to power in the late 1970s – mid 1980s henceforth presenting neoliberalism as a key financial...
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...Transition The First Ten Years Analysis and Lessons for Eastern Europe and the Former Soviet Union Transition The First Ten Years Analysis and Lessons for Eastern Europe and the Former Soviet Union THE WORLD BANK Washington, D.C. © 2002 The International Bank for Reconstruction and Development/The World Bank 1818 H Street, NW Washington, DC 20433 All rights reserved. 1 2 3 4 5 05 04 03 02 The findings, interpretations, and conclusions expressed here are those of the author(s) and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply on the part of the World Bank any judgment of the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is copyrighted. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or inclusion in any information storage and retrieval system, without the prior written permission of the World Bank. The World Bank encourages dissemination of its work and will normally grant permission promptly. For permission to photocopy or reprint, please send a request with complete information to the Copyright Clearance Center, Inc, 222 Rosewood...
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...Corporate Strategy Tameer Bank ‐ Micro Finance Banking Arsalan Aziz 2011 Instructor: Mr. Shahid Zaki EMBA PS‐IV (INSTITUTE OF BUSINESS ADMINISTRATION) Contents INDUSTRY BACKGROUND ................................................................................................................................... 4 TAMEER BANK .................................................................................................................................................... 5 Vision .............................................................................................................................................................. 5 Mission ........................................................................................................................................................... 5 Products ......................................................................................................................................................... 5 Tameer’s Tripple Bottom Line goals .......................................................................................................... 5 Projects in Progress for 3BL goals in 2008‐2010 ........................................................................................ 5 GENERAL ENVIRONMENT .................................................................................................................................. 7 . Technological Change .............................
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...Impact of globalization on Indian economy- An overview By: Tanveer Malik Introduction Indian economy had experienced major policy changes in early 1990s. The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive. The series of reforms undertaken with respect to industrial sector, trade as well as financial sector aimed at making the economy more efficient. With the onset of reforms to liberalize the Indian economy in July of 1991, a new chapter has dawned for India and her billion plus population. This period of economic transition has had a tremendous impact on the overall economic development of almost all major sectors of the economy, and its effects over the last decade can hardly be overlooked. Besides, it also marks the advent of the real integration of the Indian economy into the global economy. This era of reforms has also ushered in a remarkable change in the Indian mindset, as it deviates from the traditional values held since Independence in 1947, such as „self reliance” and socialistic policies of economic development, which mainly due to the inward looking restrictive form of governance, resulted in the isolation, overall backwardness and inefficiency of the economy, amongst a host of other problems. This, despite the fact that India has always had the potential to be on the fast track to prosperity. Now that India is in the process...
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...1. Barrier to Entry According to Michael Porter (1980), threat of new entrants are determined by barriers to entry which include economies of scale which include size and scope of operations required to achieve viable cost structure; product differentiation, switching costs and customer loyalty created by quality, reliability and brand image; capital requirements which involve size of cash and financial resources required to establish and run a business; cost disadvantages independent of scale as opposed to advantages held by existing competitors such as location, patents and experience; access to distribution channels which include means to reach customers; government policy such as licensing, subsidies or tax incentives; and expected retaliation from existing competitors which are determined by current rivalry, history of vigorous retaliation and strengths of incumbents. The Hotel Industry on a global basis is characterized by high capital costs and a high proportion of fixed costs to total costs. There are considerable economies of scale in the local Hotel Industry. The growth of the Hotel Industry in most metropolitan cities is limited by the availability of suitable locations. Access to distribution channels can be a problem, but this factor can be mitigated by a connection with an international hotel chain. The industry exhibits high entry barriers restricting new entrants, particularly because of the combined factors of economies of scale...
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...Abstract Pakistan Railways is a national transport service of Pakistan. It’s head-quartered is in Lahore and is working under the Ministry of Railways. Pakistan Railway provides an important mode of transportation throughout Pakistan. It is commonly referred to as the "life line of the country", by aiding in large scale movement of people and freight throughout Pakistan. A railway all over the world is considered, cheapest, safest and efficient mode of passenger and freight carrier. Pakistan is no exception to this. Till 1970’s Pakistan railways used to be a profit earning entity. Due to successive governments tilt towards road network affected the railway operations. By introducing NLC (National Logistic Cell) during Zia’s regime railways started sliding downwards and till date has not been able to stand upon its legs. Railways need huge investments which was not forth coming by the governments who remain power one after the other. This not only affected the railway operation both in passenger as well as freight. The much needed investment in shape of infrastructure, equipment and material was not forth coming. The railway assets due to lack of repair and maintenance started becoming inoperative and obsolete. The lack of Government attention and apathy Pakistan railways has reached at its lowest ebb. The rolling stock and locomotives have outlived their utility. The only way through which Pakistan Railways can be broad back to its past glory if the Government injects heavy...
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...larger picture which takes into account the competencies, interests and the dependencies of economies world -wide. The zeal of globalization has even forced Governments to be tuned to the merits of a Global economy. In Economics we have views on pro-globalization by Jagdish Bhagwati etc. who build on the economic notion that free trade helps everybody and lift the poor out of poverty, while we have the anti-globalization views by the likes of Vandana Shiva, Arundhati Roy, etc.,who see globalization as a way for multinational corporationss and multilateral institutions (World Bank, IMF) to change the rules all over the world to ensure better markets for the rich countries. India opened up its economy in the early nineties following a major crisis of foreign exchange crunch that dragged the economy close to defaulting on loans. The response was a slew of domestic and external sector policy measures partly prompted by the immediate needs and partly by the demand of the multilateral organizations. The new economic policy introduced by our present Prime Minister, Dr. Manmohan Singh, who was the then Finance Minister radically pushed forward in favour of a more open and...
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...property rights create incentives for innovation through increased returns mainly because investors can keep a bigger portion of the profit they make. Secondly, an effective education system increases efficiency of technologies and investment and reduces cost of skilled labour which in turn increases return of innovation. Thirdly, macroeconomic stability and consequent low interest rates encourage entrepreneurial behaviour. Another important factor is the access to credit and a sound financial market, which makes it easier to borrow money for projects. Lastly, higher competition among incumbent firms and higher entry threat will encourage innovations by incumbent firms close to the technological frontier. In what follows, we try to provide an answer to why the "take-off growth" in the 80s is not considered as sustainable and what the factors of the sustained growth in the 90s m Although the liberalization reforms in the 80s contributed to a long-run productivity growth, it is argued that the accelerating growth of the 80s was not sustainable, mainly because the government boosted demand through domestic expenditures (Panagariya, 2004). These were financed through internal and external borrowing, wich worsened the balance of payments and increased government debt to gdp ratio, eventually leading to the crisis of June 1991. A quick look at the data tells us that economic growth in the '80s was not just more fragile than the '90s but also showed higher variance and lower average growth...
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