...Everyone in the society, from the small business owner to the billionaire investing in the real estate to the teenager applying a job makes some economic decisions at some point. The basic assumptions are surrounding decision-making process always apply. The primary factors surrounding economic decision making include; maximizing value, working on a budget, cost benefits analysis and rational decision making. The process of making economic decisions is complex as that of consumer decision making. When making decisions, businesses derive most of the critical choices from macroeconomics data, any of the choice made could mean the failure or success of their enterprise. The accuracy, reliability and validity of the information the business uses are of great importance (Tremmel, 2008). My aim in this paper, therefore, is to discuss and identify any decision-making processes. I will also consider incentives of stakeholders and how concepts such as equity, externalities, and efficiency influence the economy. I will achieve this objective by analyzing the Yasuni case, “A tragedy of commons”. Before I delve into Yasuni initiative, “A tragedy of commons”, it will be better if I highlight the steps of the decision-making process. A decision process has about...
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...This article is a copy of the one published in New Society Magazine No.237, January-February 2012, ISSN 0251-3552, www.nuso.org A major transition for a great transformation Reflections from the Yasuní-ITT Initiative René Ramírez Gallegos1 When discussing the development of a political project from the Left there are two opposing positions or aspects: those which promote the idea of better managing and regulating capitalism – that is, striving for “good capitalism” – and those who hold anticapitalist positions. The author of this article argues that a Left that does not give up on the generation of alternatives to capitalism but at the same time is responsible for governing, should think about a “great transition” without losing sight of the horizon of a “great transformation”. This article analyzes the Yasuní-ITT Initiative and presents it as an example of how to merge concrete and innovative proposals (transition) and utopias which go beyond capitalist development (transformation). Key words: Left, Capitalism, Good Living/Sumak Kawsay, Yasuní-ITT The world does not need alternatives for development, but alternatives to development. The world does not need to “better” use capitalism, but to transform it. That is the great historical challenge that the Left should take on, both intellectually and politically. The concept of “development” has been recycled and reborn again and again for all its critics and detractors. However, in a strict sense it has never been questioned...
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