Group items tagged

The objective of this article is to describe how the transformation of the trade and industrialization regime is taking place in Ecuador and what are the systemic factors which condition the realization of this transformation. A long-run perspective of economic policy and growth in Ecuador (considering the whole of the twentieth century) reveals that growth has been relatively fast compared to other countries in the region, with exports as the driving force of that growth

This article analyses the economic rationale of Brazil's tariff policy during the first two years of the Plano Real. To this end, a study is made of the changes made in import duties for all the products traded. The tariff reform process in Brazil was begun in 1988, after the old Tariff Act had been in effect for thirty years, and represented a marked intensification in the process of trade openness, with the definition of a schedule of gradually decreasing tariffs which was further speeded up as from 1990.

This article refers to the dilemma of producing energy but through wasting a huge amount of resources, in this case electricity vs. water. The Solar Millenium, a German developer, would provide hundred of jobs and generate electricity, but this would imply the use of 1.3 billion gallons of water a year, 20 percent of the water available to the town.

This article is about the Mining of Diamonds in Zimbabwe. While the mining of these diamonds may lead to economic growth for the country, it does not lead to economic development. The money falls into the hands of unsavory Mafia types instead of the hands of the people who mine.

A group of United States congressmen yesterday sent a letter drafted with their legislative counterparts in Korea to Presidents Barack Obama and Lee Myung-bak urging the renegotiation of the U.S.-Korea bilateral free trade agreement. The letter calls for restrictions on certain service industries and a revision of provisions on a dispute settlement mechanism involving foreign companies. Beef and auto provisions, the main stumbling block to the ratification of the pact on the U.S. side, were not mentioned.

This article describes a measure proposed by Obama as part of his healthcare overhaul and job creation plans, in which $225 million in Department of Labor grants would be used to train 15,000 people in job skills in careers such as healthcare, info-tech and other high growth fields. A high and steady rate of employment is a principle macroeconomic goal of the government.

OPEC is one of the most famous oligopolies in the world: an organization of 13 of the world's largest oil producing countries. Together they determine output and in so doing heavily influence prices, which in turn has an impact on other economies. Their actions have long been the subject of criticism and debate.

This article gives an example of a service that causes positive externalities. It describes the addition of two new fire stations. According to the article's report, the positive externality of this service is that response times have been dropped by an average of 30 seconds, which can be the difference between life and death.

This article from the Wall Street Journal describes the economic problems faced by Greece and the effect on the European Union because of the 2007-09 financial crisis. It was recently revealed that the last government of Greece left a huge amount of hidden debt, hidden with the help of Goldman Sachs. The Greek economy has since moved into a recession.

This article presents one of the possible outcomes of implementing a business tax, which is great dislike and confrontations from businesses towards the government. Furthermore, the possibility of people losing jobs is still present, and threatens the balance of the economy in general.

Chrysler looks to decrease costs by improving efficiency and productivity. They planned to reduce costs by making the type of car they created variable in the long run. The new short run as a result of this new, cheaper car has the cost of production of the new Chrysler at a lower fixed cost.

This is an example of a negative externality created by the rapid industrialization of China. This externality is created because the market price does not take into account the costs incurred by third-parties not involved in the transaction. In this case polluted waters damage the natural environment and pose a hazard to the people, but corruption and lack of legislation means that little is being done.

This article is about how the financial crisis of 2008 has affected the market for luxury yachts in the Middle East. The article reports that sales of leisure boats are expected to plunge up to 75% as people are less willing to splurge on luxury goods. This shows that the YED for luxury yachts is relatively elastic, as the loss of income resulting from the crisis has caused a greater than proportional change in quantity demanded.

This article considers deteriorating terms of trade in Chile, and examines the current value of exports and currency.

This article is about the opportunity cost of producing biofuels. When the amount of water needed to irrigate crops is factored in the average mileage is 50 gallons of water a mile.

This article from the Ennhar Online shows the relative inelasticity of demand for cigarettes and tobacco in Algeria. The government has increased the price of cigarettes, tobacco and chewing tobacco several times, as well as imposing a hefty tax on importing and producing tobacco related goods. However, this has had little effect on the people of Algeria, who continue to smoke despite increasing prices. Because tobacco is an addictive substance, this has caused the PED to be inelastic.

In an effort to combat what is seen as deliberate action on the part of the Chinese government to keep that value of its currency artificially low to improve the competitiveness of exports in foreign markets, The US has considered devaluing its own currency. This has led to criticism from China and Russia.

This article explains possible actions to be taken in order to take a country out of a recessionary period. Canada is in a recession, so if the plans of the Ontario Premier are successful, then the negative effects of a recession would be lifted

In this article, a serious negative externality of a public good is presented: deaths in a public road, or more specifically a motorway. There are numerous preventable accidents occurring in the road, mostly due to police inefficiency, and neglecting of safety standards. This public good is definitely an example of a market failure.

This article is about American's statistics of Keynesian economics. Some people think that its a good way of economy which helps US to stay in balance, other people think that Keynesian economics ruining US economy. -Washington has continued Keynesian economics well into the 21st century and that alone has caused the current economic collapse of the US economy. National telephone survey suggests that only 11% of Americans agree with the idea that the federal government needs to spend and increase the deficit during tough economic times, while 70% disagree with Keynesian economy. Americans should come ti agreement on which economy they should choose, so it can help them to get out of crisis.