One of the leading explanations to be presented in relation to the resource curse theory is that of the “Dutch Disease” theory established by Matsuyama (1992), which argues that when an organization or country specializes in a particular type of resource production, the combination of the specialization as well as the appreciation of the exchange rate will then result in a decline and will become more conducive to other industries which are not going to lead to the same economic growth (Lutz, 1994). One of the potential dangers of oil booms, for example, is that exchange-rate appreciation renders the non-oil-tradable sectors such as manufacturing less competitive and thus can generate de-industrialisation. The related Dutch Disease thesis …show more content…
Rents refer to the "excess incomes," or the "proportion of earnings in excess of the minimum amount needed to attract a worker to accept a particular job or a firm to enter a particular industry." Rents can take many forms such as higher than competitive rates of return in monopolies; extra income earned from exclusive ownership of a scarce resource, whether natural resources or specialized knowledge; or extra income from politically organized transfers such as subsidies. Since rents specify incomes, which are higher than would otherwise have been earned; they create incentives to generate and maintain these rents. These influencing activities range from bribing and coercion to political lobbying and advertising. In the mainstream view, the availability of rents is the ultimate source of rent seeking and corruption. This can typically be achieved by manipulating regulatory agencies or trying to gain some form of advantage in the market, while placing others at a competitive disadvantage. This type of rent seeking behaviour, particularly from those involved in a high level of management of natural resources can then create a situation whereby those individuals benefit and the overall country does not (Papyrakis and Gerlagh,
Founded in 1912, Nederlander is the oldest and most respected concert management company. The company’s headquarters was strategically selected in Los Angles where major talent agencies are located and has a favorable market. Nederlander owns many award-winning venues such as Greek Theatre and has booked some of the biggest artist. (Nederlander) The role of capitalism is very significant for companies especially for Nederlander Concerts.
Thousands killed in the Leopold outbreak. King Leopold should be condemned for his brutal actions, and for making the population more then half in population, like in Lukolela “The population in the villages of Lukolela in January 1891 must have been not less than 6,000 people, but when I counted the whole population in Lukolela at the end of December 1896. I found it to be only 719… but judge of my heartache when on counting them all again on Friday and Saturday last, to find only a population of 352 people.” (Document 5) In 1800-1900’s, King Leopold wanted to and planned to take control of the Congo people.
Exploitation arises when one group of people need to be above everyone else to move the country forward.
Rent Seeking by an American Economist In the American Economist Joseph Eugene Stiglitz’ essay, ‘Rent Seeking and the making of an Unequal Society,’ he argues, with the help of examples, that most of today’s economic and political problems are caused by the government. He goes in depth to explain why the government policies are a major factor in creating these problems, as well as the market forces itself. In addition to this, he discusses the relationship between income inequality and societal growth, and how rent seeking contributes to it. The following is main ideas from his essay that help to further prove his point of how rent seeking provides for income inequality, as well as how the government policies help in the making of an unequal society. Firstly, because the government policies shape the market forces, they are able to shape the degree of inequality.
Disease in the 1700s significantly contributed to the decline of the Native American population; after European contact exposed many to serval diseases. The most significant disease, however, was smallpox. By the end of the 1800s, Native Americans had suffered a series epidemics having a devastating effect and leaving some tribes destined for extinction. Historian Alex Alvarez perspective examines if the spreading of smallpox was a deliberate or unintentionally spread. In this analysis, he covers disease in Native America and the link between smallpox and genocide.
Despite America previously being the first country to begin industrialization, European countries who once required American aid for exports began industrializing themselves. With this new technology overseas, this dramatic decrease in exports plummeted the economic and drastically reduced all future means of income from this
Additionally, trade and foreign direct investment is affected by the prevalence of diseases, which in turn affects the distribution of state resources and spending which contribute to poverty. Par example, the Ebola epidemic which resulted in the withdrawal of the foreign investors, London Mining, in Sierra Leone. The International Monetary Fund, has emphasized the importance of the iron ore sector to Sierra Leone due to a predicted growth output fall from 20% in 2013 to 5.5%. Health risks due to prevalence of disease also restrict mobility between borders with regard to trade. Countries such as Senegal imposed restrictions on the movement of people and goods, which was described as an, “economic blockade,” by the President of Sierra Leone.
The world we live in today is dominated by the outstretched hands of corporations that seek to influence and manipulate our every decision. The corporate world is leading a multi-pronged assault for total control over the consumer through deceptive advertising, relentless exploitation of untapped markets, and unethical wealth creation practices. In “Rent Seeking and the Making of an Unequal Society” by Joseph Stiglitz, we are presented with the concept of rent seeking. It is an umbrella ideology that includes various unethical practices used by the wealthy to drain the lower classes of their wealth and redistribute it at the top. The corporations that are solely after monetary gain, do so at the expense of the poor and are taking from society
However even with Countries such as Africa some what succeeding in the act of decolonization, the fact of the matter is that African Governments still required funds to manufacture; streets, schools, dams and plants. The main genuine option was credit loans from Western Governments. Yet, the advances accompanied strings appended: no duties, quantities or other conventional governments defensive measure were permitted. Therefore, the African industry was bound from the beginning and these advances couldn’t be paid, rather accumulating interest until they were ordinarily the GDP of the African Nations. As stated by Martin Shipway in ‘Decolonisation and its impact: A comparative approach to the end of the Colonial empires.
Two stories, one purpose. Contagion and The American Plague tell the story of mankind's fight for survival. With a vast amount of humans dying in infected areas, the government brings together the most renowned scientists in the medical field. In Contagion, the disease originated in China, and they sent scientists to Hong Kong to help find the source of the virus. In The American Plague, the disease originated in Africa, and they sent scientist to Cuba where the disease is often found.
A select few powerful people or private entities lobby for certain bills or regulations to get passed. This benefits a select few people and costs are incurred by the taxpayer. This type of scenario can be describes as “rent seeking.” Rent seeking is when private entities get the government to foot the bill. It can be through subsidies or getting loans.
The industrial revolution of the 17th and 18th century provided the economic and technological spur that many European countries and America lacked. As a result of the industrial revolution, the world trade markets saw a tremendous increase, with materials being transported between the nations at a frantic rate. The profits soared while the need for raw materials had never been that high, as it was during those times. That forced many of the industrialized European countries to rethink of new approaches to obtain the valuable materials. The solution came as a form of colonizing the areas that raw materials found abundantly.
I have always wanted to pursue a career related to the medical field, and it wasn't until my freshman year of college that I encountered the area of public health. I was immediately drawn to the specific area of epidemiology and infectious diseases. I am now a junior at the University of Texas majoring in Public Health with a concentration in microbiology and infectious diseases. I find epidemiology so enthralling, as it is implements ways in which we can scientifically and statistically describe diseases and the mortality/morbidity as well as predict how and why they spread. More so, I think the infectious disease aspect is interesting as well, because while the United States has shifted from burden of infectious disease to that of chronic
Ever since Garrett Hardin’s publishing of the Tragedy of Commons in 1968, it has been used extensively to understand environmental problems. The tragedy of the commons can be defined as when individuals acting in rational self interest seek to maximize the benefit of Earth’s resources as fast as they can and in doing so, lack an incentive to conserve and regulate these resources (Olive, 2016). This concept can be seen in the 2014 film Damnation by Travis Rummel and Ben Knight. Below, it is shown how the dams in the movie exemplify key characteristics of a commons, why problems of the dams are hard to overcome and how these problems can be solved. By examining the dams shown in the film, it is evident that the problem of the dams is an accurate example of the tragedy of the commons.
And one of the old solutions for this concern is to increase number of cultivation lands and exploit new fish stocks. But the competition for land from other human activities makes this an increasingly unlikely and costly solution .for example food producers are experiencing grater rivalry for land, water energy and the need to curb the many negative effects of food production on the environment becoming increasingly clear (Tilman et al. ,2001;