Another important question is how will people earn money when AI is taking over? It is obvious that many entrepreneurs will have a major economic reward from the development of AI but what about manual workers? It is very probable that AI will bring destabilization among winners and losers but on the other hand it will bring reduction of costs and prices. AI should be considered a tool that can help in performing difficult tasks. This revolution is about to turn margins beyond imaginable.
This is because as America, and as a whole, we have waited a very long time to improve economy, and with hardwork and perseverance we did. Another quote that showed a strong tie between the American Dream and our economy is, “Under President Obama and the Democrats, new private-sector jobs are throwing ee million below where they should have been with just average modern post-recession growth.” (GOP 4). This quote is showing how our increase in a better economy has caused many new and better job opportunities. Therefore, America’s economy has a huge impact on how the American Dream is still
The number of billionaires was doubling ostensibly in these countries, which promised the yacht, real estate, art or hotel sectors a brighter future than expected. As said by Jean-Noël Kapferer: “The sector’s growth being directly correlated with GDP growth, its future presumably lies in China, vast reservoir of new potential customers. India, which has been waiting for years, still lingers to develop in this market, lack of infrastructure. Russia is in economic decline, which forces sacrifices on these consumptions that can be carried forward or reduced in costs. Africa now seems promising new markets.
In this year’s Africa’s Transformation forum in Kigali, it was stated “Almost half of the 10 million graduates churned out of the over 668 universities in Africa yearly do not get jobs,” so with Africa’s youth population growing significantly, hopefully to increase by 45% by 2030, imagine the increasing number with no jobs and even more, meaning low income, resulting in poverty. Also, this can be considered as a waste of Africa’s greatest resource, hence Africa is working way below it’s production possibility. The African rising narrative suggests, that Africa is growing, and is basing this growth mainly on statistical figures like the GDP, however this is not an adequate measure because they are developmental problems like poor access to health facilities, poverty , income inequality and high unemployment levels. I believe for Africa to really rise we must focus on economic development whiles experiencing our economic growth. Lastly, we must find our identity and learn to take ownership of what we own, in order to unleash our fullest
Frielinghaus et al. (2005), argued that according to the life cycle theory of capital structure, debt ratios should be increased with the progress of the firm, from the early stages of her life to them later. Trade-off theory supports the life cycle theory. So, firms in the early stages (infancy, continuity and teens) cannot afford the high levels of debt, because their costs of bankruptcy are high and their incomes are too low to ensure benefit from deductions interest debt before tax. Stages of maturity and stability, higher earnings are prompting firms to provide advantages from the use of debt.
Perhaps the most important duty of our countries lawmakers is designing rules and regulations to grow the economy. Minimum wage is a hot topic, and an increase raises a lot of red flags because if done incorrectly it could devastate the economy. If implemented properly, raising the minimum wage in certain areas could stimulate the economy and bring the lower class out of poverty. To implement these changes properly there are certain aspects that need to be done well. First, the minimum wage needs to take inflation into account.
Employees top performance is critical for companies success. Research shows that as soon leaders realized the importance of talent management, they started spending time and resources in planning and implementing talent management activities. The fast changing and dynamic world environment accelerated leaders activities and strategies for attracting and retaining talent within the organization. Increased globalization and competitive global market has escalated more the war for talent management and made it global. Many Governments are now involved in hunt for talent through developing talent immigration schemes and policies.
Along with this, skilled workers of developing nations leave and migrate to wealthy nations due to higher income, which is a result of globalized competition(Sharma). Lastly, some argue that globalism has helped the economies of these poor GDP countries, but what they fail to realize is that they have not helped develop but rather helped handicap these economies. Globalism creates a monopoly or a “level playing field”(Thomson). A monopoly in which only the multi-national companies survive or actually thrive. The corporations do business with developing countries but instead of helping them develop their own independent economy, they end up becoming such an integral part of the economy that without them the economy would collapse.
The question of whether austerity is a dangerous idea has been a hotly contested argument for decades now. With some seeing it as potentially detrimental to country’s economic structure, while others regard it as a necessary policy needed to bring the government out of financial disaster in drastic times where no other options are available other than the measures mentioned during austerity such as cutting expenditure, raising taxes, and bailing out banks. Austerity process is the actions normally pursued if there is a risk that a government can’t hold up its debt obligations. This might arise when a government has borrowed in currencies from foreign nations (Economist 2015). Austerity policies can also be attractive to the more affluent group
The economic competition forced by the globalization is obviously the main motive for the reshaping the education systems in many countries. Global information and communication technologies, mass media and international NGOs contribute to reforms in education directly or indirectly. International organizations inflict their policy interests, objectives and philosophies to developing countries through conditionality related to lending. The discourses of knowledge economy, life-long learning, international testing and technology are found to be the main concern of education policy in developing nations; these have thus become in effect globalized education policy