...Economic Freedom Ranking | Economic Freedom Score | Property Rights Score | Freedom From Corruption Score | GDP per capita (PPP) | Switzerland | 4 | 81.6 | 90.0 | 88.1 | $45,418 | New Zealand | 5 | 81.2 | 95.0 | 94.0 | $29,730 | Estonia | 11 | 75.9 | 90.0 | 64.2 | $21,713 | Eritrea | Last | 38.5 | 10.0 | 22.9 | $777 | Venezuela | 175 | 36.3 | 5.0 | 16.5 | $13,616 | 1. 2. Country | Economic System | Switzerland | Market | New Zealand | Market | Estonia | Market | Eritrea | Command | Venezuela | Communist | The free market economic system is bashed at home and abroad for greed, oppressing the poor, etc. Yet it is in the world’s countries that lack this free market economic system where the poor are the poorest and greatly oppressed and to which the world businesses are wary of investing. Read the following: http://www.forfreedomssake.com/blog/2009/03/economic-freedom-is-a-necessary-but-not-sufficient-condition-for-political-freedom-a-note-from-my-capitalism-socialism-democracy-course/ http://ashbrook.org/publications/onprin-v1n3-thompson/ http://www.forbes.com/sites/deanzarras/2011/07/24/idealistic-capitalism-vs-idealistic-socialism/3/ Based on the assignment materials, write a one to two page essay that explains why socialism is not moral and why there is so much corruption and poverty in countries that lack a free market system? A pure opinion piece not based on the assigned material will receive 0 points. Socialism: a political...
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...Natalia Navarro Comparative Political Economy Analytical Paper #2 November 5, 2015 Question #3 Venezuela vs. Poland In order to understand the reforms that occurred in Venezuela after the 1980’s both politically and economically it is important to study the origin of Bolivarianism. The term Bolivarianism originates after Simón Bolivar, a military and political leader born in Venezuela. Bolivar helped establish many sovereign states from the Spanish rule including Venezuela, Colombia, Bolivia and Peru. Venezuela has a petroleum based economy that allowed the construction of a democratic political regime that was based on a zero-sum framework around the 1960’s. Once the resources started diminishing around the 1980’s through 1990’s the political...
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...issues that matter in the region vs. issues important outside of the region are second nature to me. I was born and raised in Colombia, and finished high school in Panama. The political environment of Colombia and Panama shaped my cultural awareness and political understanding of these two countries’ overall climate as well as neighboring countries in the region. My understanding of Latin America is complemented by 23 years in the United States, including 21 years of service as a Marine. The Marine Corps has a culture all its own, which I understand well through 7 years of enlisted and 14 years of commissioned service. My first-hand exposure and experience in foreign countries have left a continuing personal interest in following social and political events in Panama, Colombia, and Latin America as a whole. I follow significant events pertinent to the region. Many have impacted the economy and security of the United States as well. The transition of operations and management of the Panama Canal to Panama in December 1999, and current efforts by President Santos against the FARC are among them. The transition of the Panama Canal and its surrounding territories marked a historical event for Panama and the U.S. Panama’s political position strengthened in relation to its Latin American neighbors by assuming responsibility of managing this critical and strategic asset. Operation of the canal represents significant revenue for Panama’s economy ($200M per year). The U.S...
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...issues that matter in the region vs. issues important outside of the region are second nature to me. I was born and raised in Colombia, and finished high school in Panama. The political environment of Colombia and Panama shaped my cultural awareness and political understanding of these two countries’ overall climate as well as neighboring countries in the region. My understanding of Latin America is complemented by 23 years in the United States, including 21 years of service as a Marine. The Marine Corps has a culture all its own, which I understand well through 7 years of enlisted and 14 years of commissioned service. My first-hand exposure and experience in foreign countries have left a continuing personal interest in following social and political events in Panama, Colombia, and Latin America as a whole. I follow significant events pertinent to the region. Many have impacted the economy and security of the United States as well. The transition of operations and management of the Panama Canal to Panama in December 1999, and current efforts by President Santos against the FARC are among them. The transition of the Panama Canal and its surrounding territories marked a historical event for Panama and the U.S. Panama’s political position strengthened in relation to its Latin American neighbors by assuming responsibility of managing this critical and strategic asset. Operation of the canal represents significant revenue for Panama’s economy ($200M per year). The U.S...
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...National Differences in Political Economy Learning objectives • Understand how the political systems of countries differ. • Understand how the economic systems of countries differ. • Understand how the legal systems of countries differ. • Be able to explain what determines the level of economic development of a nation. • Discuss the macro-political and economic changes taking place worldwide. • Describe how transition economies are moving towards market based systems. • Articulate the implications for management practice of national differences in political economy. This chapter discusses differences in national political, economic, and legal systems, highlighting the ways in which managers in global settings need to be sensitive to these differences. Political differences are described along two dimensions: collectivist vs. individualist and democratic vs. totalitarian. Economic systems are explored in terms of market characteristics: market economies, command economies, and mixed economies. Legal systems are discussed in terms of the protections they offer for business: intellectual property, product safety, liability and contracts. The opening case explores the political and economic situation in Venezuela since Hugo Chavez was elected president in 1998. The closing case describes the challenges facing Indonesia, a vast country populated mainly by Muslims that stretches over 17,000 islands. Indonesia...
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...Getting to Know Mercosur Zak K. Blondis University of Memphis: Fogelman College of Business and Economics Abstract This paper is a brief overview of Mercosur and its current state, and will focus on the background, formation, global and regional impact of Mercosur and its members as well as the current dilemmas that are being faced. Issues ranging from economic to political will be discussed throughout. Internal disputes and protectionist policies place Mercosur in an uncertain situation as they focus to defend their own domestic products all whilst maintaining a steady external trade. A continuing worldwide economic power house, Mercosur continues to struggle with certain facets of trade and political structure. Background South America throughout past decades has seen bloodshed and political instability, and despite much improvement there is still reoccurring corruption to date. Although the Pablo Escobar reign in Colombia, Noriega’s rule in Panama, and Castro’s hold on Cuba are no longer relevant, there still remains similar political instability today. Mercosur directly translated is Mercado Comun del Sur, or The Southern Common Market, and is a trade bloc for six of South America’s member nations (See Appendix A for current member countries) where they enjoy free trade, very similar to that of the North American Free Trade Agreement, where the goal is full South American economic integration. Enacted in 1991 under the Treaty of Ascuncion, Mercosur was created...
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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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...QUARTER 2, 2012 CONSUMER CONFIDENCE, CONCERNS AND SPENDING INTENTIONS AROUND THE WORLD 91 Global consumer confidence index declined three points to 91 • Discretionary spending and saving decreased globally across all sectors • More than two-thirds (67%) of respondents changed spending habits to save on expenses • Concern for the economy and job security remained Global consumer confidence declined three index points to 91 in Q2 2012 amid a worsening Euro zone crisis, lackluster U.S. job growth and China’s downward GDP revision for 2012, according to consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy. “Consumers are clearly proceeding with caution in relation to their spending intentions,” said Dr. Venkatesh Bala, chief economist at The Cambridge Group, a part of Nielsen. “Consumer confidence lost momentum in the second quarter as global events, including a worsening Euro zone crisis coupled with slowing growth rates in China and India, impacted financial markets and consumer sentiment in many parts of the world. As renewed volatility entered global markets, consumers reacted by reining in spending and consumption intentions.” In the latest round of the survey, conducted between May 4 and May 21, 2012, consumer confidence declined three points to 100 in Asia Pacific, four points to 88 in North America, and two points to 96 in Latin America. An increase of one point each in Middle...
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...Recession A significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP); although the National Bureau of Economic Research (NBER) does not necessarily need to see this occur to call a recession. Recession is a normal (albeit unpleasant) part of the business cycle; however, one-time crisis events can often trigger the onset of a recession. The global recession of 2008-2009 brought a great amount of attention to the risky investment strategies used by many large financial institutions, along with the truly global nature of the financial system. As a result of such a wide-spread global recession, the economies of virtually all the world's developed and developing nations suffered extreme set-backs and numerous government policies were implemented to help prevent a similar future financial crisis. A recession generally lasts from six to 18 months, and interest rates usually fall in during these months to stimulate the economy by offering cheap rates at which to borrow money. The sharp decline in economic activity during the late 2000s, which is generally considered the largest downturn since the Great Depression. The term “Great Recession” applies to both the U.S. recession – officially lasting from December 2007...
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...America Tracy Rosser Athens State University November 30, 2015 Business in Colombia, South America Introduction/History “I’d rather be in a grave in Colombia, than in prison in the United States” said one of Columbia’s most famous drug lords, Pablo Escobar (Bowen, 2001). Although Colombia works hard to portray itself as a tourist destination that has a viable economy, it cannot totally rid itself for being known as the largest producer of cocaine in the world. This type of drug activity is big business and comes with its fair share of crime. Political unrest and high crime aside, Colombia seems to be focusing on legitimate business interests and doing business with this country would be a viable option. The name "Colombia" is derived from the last name of Christopher Columbus. The territory that became Colombia was first visited by Europeans when the first expedition of Alonso de Ojeda arrived at the Cabo de la Vela in 1499. The Spanish made several attempts to settle along the north coast of today's Colombia in the early 16th century, but their first permanent settlement, at Santa Marta, was not established until 1525. Cartagena was founded on June 1, 1533 by Spanish commander Pedro de Heredia, in the former location of the indigenous Caribbean Calamarí village. Cartagena grew rapidly, fueled first by the gold in the tombs of the Sinú Culture, and later by trade. In 1863 the name of the Republic was changed officially to "United States of Colombia", and in 1886 the...
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...and the economics of cartel. We will also cover briefly micro economics concepts – Demand and Supply, market structure & pricing decisions and related concepts. 2. OPEC is an epitome of Oligopoly 1. Oil – Life Blood of Indian Economy OIL - One of the life bloods of our Indian economy is oil. The impact of oil in today’s Indian economy has been witness by consumers many times. We have seen how human spending and travel got affected as the price of oil fluctuates. In contrast almost all energies are generated using oil, to mention few; Cars, Trucks, Indian railways, Plane, use oil in order to run their engine. Therefore if oil supply disturbed for one day we can imagine how the Indian economy can be affected greatly. OPEC - Introduction About OPEC (pronounced oh-peck)- Organization of the Petroleum Exporting Countries - Organization of the Petroleum Exporting Countries, established in Bagdad, Iraq in 1960. OPEC as a cartel, manipulate supply of oil in the market, in hopes of keeping prices, and profits, high. It is comprised of 12 members –Algeria, Angola, Ecuador, Islamic Republic of Iran, Iraq, Kuwait, Socialist People’s Liberian Arab Jamahiriya, Nigeria, Qatar, Saudi Arabia, -United Arab Emirates and Venezuela with headquarters in Vienna, Austria. according to the official website. Oil is the main marketable commodity and foreign exchange earner. Thus, for these countries, oil is the vital key to development – economic, social and political...
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...Producers vs. Oil Users Oil is a unique and finite commodity. Every person in the world is affected by oil and it plays a vital role within modern society. It has also been associated with conflict since the First World War. The importance of oil is such that nationals and ethnic groups are prepared to go to war for this commodity if necessary. As such, a unique set of economic circumstances and policy issues surround oil. These include oil’s links to industrialization, economic growth, the distribution of wealth, and global warming. Oil is vital to the functioning of the economy of individual countries as well as the global economy. It plays an essential role in transport systems (ground, air and sea), agriculture, chemicals, and the military. Thousands of products are made using oil including plastics, pesticides, paints, inks, synthetic fibers, solvents, medicines, and other vital everyday use products. The reality is that oil is all around us, even when it is not being used in vehicle or other transport engines. Since oil is a finite commodity, concerns about when the supply of oil will decline and run out is of paramount importance and concern. The world’s supply of readily accessible oil is declining simply because more oil is being extracted than being discovered. New technologies that gain access to reservoirs previously hard to access may extend the life of these reserves. However, demand for oil in developed countries such as the United States, Europe...
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...Environmental, Institutional, and Cultural Context of Colombia Michael N. Yuede Missouri State University Abstract This paper studies the Colombian culture and how it affects business relations. First, the Colombian country is explored, examining the geographical location and environment, demographics, economy, religion, and the historical, legal and ethical, and social context. Geert Hofstede’s, Fons Trompenaars’, and GLOBE’s models of national culture infer ways to behave in any given culture, and in this case, Colombia. Differences can be seen between the United States’ and Colombia’s culture after exploring the models, suggesting ways to adapt to the new culture and act appropriately in a business environment. After studying the models, the cultural descriptions and aspects, including Colombia’s collectivistic and high power distance nature, give future managers and expatriates the implications necessary to become legitimized in the eyes of other businesses and the government. Additionally, the implications help predict employee behaviors and motivators, as well as human resource management policies that should be implemented into the business. However, in order to fully understand the Colombian culture, an individual must live in that country for a period of time to experience the culture first hand. Environmental, Institutional, and Cultural Context of Colombia In order to better understand how to interact in a business environment in Colombia, it is important...
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...WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY LIST OF CONTENTS AND TABLES Wine in Venezuela - Category analysis .......................................................................................... 1 Headlines ........................................................................................................................................ 1 Trends ............................................................................................................................................. 1 Production, Imports and Exports................................................................................................. 3 Competitive Landscape .................................................................................................................. 3 Prospects ........................................................................................................................................ 4 Category Data ................................................................................................................................. 5 Table 1 Table 2 Table 3 Table 4 Table 5 Table 6 Table 7 Table 8 Table 9 Table 10 Table 11 Table 12 Table 13 Table 14 Table 15 Table 16 Table 17 Table 18 Table 19 Table 20 Table 21 Table 22 Table 23 Table 24 Table 25 Table 26 Table 27 Table 28 Table 29 Table 30 Table 31 Table 32 Sales of Wine by Category: Total Volume 2006-2011 .................................. 5 Sales of Wine by Category: Total Value 2006-2011 .....
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...Fossil Fuel vs. Renewable Energy: Which is More Environmentally Safe? Cassandra Bohaychyk ENG-122 Professor Welsh June 23, 2013 Fossil Fuel vs. Renewable Energy: Which is More Economical and Environmentally Safe? While both have vital uses in the U.S, oil energy and renewable energy are pitted against each other as the main focuses of resources in the U.S environmental policy because each has an effect on the environment. Renewable energy is constant and can be found all over the nation, but may be costly in different ways. Fossil fuels may be a natural resource but are a one-time use that could eventually become obsolete, and could also be costly. Demonstrating in this research is a plethora of information leading to the outcome of the U.S environmental policy, and whether fossil fuels or renewable resources are best for the environment. Fossil Fuels include coal, petroleum (oil), and natural gas are concentrated organic compounds created from remains of plants and animals that lived millions of years ago formed into biomass. The refining and consumption of these resources have a massive impact on the environment and will eventually be exhausted. According to the US Energy Information Administration (EIA), fossil fuels meet around 82% of U.S. energy demand. According to the Institute for Energy Research, oil is the “transportation fuel” that makes all modern modes of transportation possible and moves both people and goods around the world. Once the products of...
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