This has led to little hope for improvements in export position, which is crucial in its potential, export oriented growth. Liberalization has led to increased income inequalities between the world’s richest countries and the world’s poorest countries. As long as there exists an ignorance for the side effects of the neo-liberal economics, development and just growth is seen as relatively farfetched, even in the long run. External factors are the foundation for the underdevelopment in most developing countries and are still hindering development by allowing more developed countries to exploit them. Even though internal adjustments must also take place in order to see development, the external factors must change first allowing for internal
Amartya Sen educated the world on the misunderstood interpretation of poverty, that one can not only look at the economic welfare. It would be ignorant to neglect factors such as gender, political rights, cultural background and the complications that a disability would bring for example. Economists may have their numbers and complicated words when they present. However, those numbers must be questioned for the amount of nutrition a country has does not confirm the amounts division. Therefore the amount of the assets do not explain the stomachs that are being fed.
Rationalists also help to make sense of the data and to make predictions about what new observations and experiments might show. And through experiments, it will show how successful a prediction is. Therefore theory feeds back on experiment, which in turn tells us how well our theories are doing. With this way of looking at things, one can conclude that both, rationalists and empiricists have qualities that are needed by scientists. Not forgetting about skeptics, they also have qualities that scientists need to adapt since they are the one who test the credibility of a data by questioning or scrutinizing it if there's no evidence to support it as explained earlier in the second
People cannot be given a good welfare because of cutting spends, but they have to pay high tax, who would agree with this policy. It seems to be able to fix a dramatic fall in government tax and dramatic rise in social spending, but it causes of revolution if it happened that economics will be worse than now and the worst thing for government is an approval rate must down. Especially, people who live in this country now are living in low tax and higher spending situation. How can they adopt austerity policies? Nobody will be able to do.
Economic policies should not be in place to produce growth without first establishing set political system. A government with no plan and only money is doomed by greed. I think that leader X is the easier choice as he/she provides false promises to escape poverty sooner rather than later, however, poverty is often more than a lack of money and can also include a lack of rights. Having basic human rights needs to be the first step out of poverty, otherwise some in society will always live at the expense of
Transnational companies often do not take ethical and social considerations when manipulating and influencing the governments of the countries in which they have operations in, often leading these governments to make decisions that are not in the best interest of the people of those countries and thus undermining democracy in those countries. Since they are only pursuing their self-interest and nothing more, what is needed is an outside force that has the capacity and authority to limit the actions of these corporations in those nations. These nations are either too corrupted or have too little bargaining power due to the benefits of TNCs in terms of employment, GDP contributions and exports and there relatively weak economies. I would recommend
The first states that small businesses are the backbone of the American economy because they strengthen communal unity and the second states they are not because they do not promote virtue or economic growth. Nevertheless, the benefits from each argument are not mutually exclusive. Aristotle would likely conclude that small businesses are an important part of the American economy – but not the backbone. When considering the golden mean, an excessive focus on small businesses leads to a lack of growth and virtue in the economy whereas disregarding small businesses altogether would mean risking weakening communal ties and how invested the American people feel in the
Political conflicts, inefficiency of local administration, taxation fraudulent, corruption at government levels, cartel of business syndicates are preventing Bangladesh from prospering ahead and achieve development like it’s was supposed to have. Political instability has cost Bangladesh a lot. To measure the political instability is difficult, but the World Bank has come up with a composite index of political stability. There is a strong connection between the crimes and economics. According
Economic considers an important factor for society. Firstly, strong economic countries should have strong development due to deal with foreigners and high productivity. Mauro (1997) stated economic corruption due to it is slowly growth and no development. Secondly, Low productivity decreases the financial situation. Mauro (1997) stated that corruption of economic due to it is slowly growth will lead to decrease the productivity and dealing with
To add to this, it also opposes formation of trade unions or any form of organisation that will impact the growth of the industries or the rich. This invariably leads to reduction in wages, longing working hours in the end resulting in better benefits and profits to the company. If the ideology was only to move power or control to the private sector this would have been incomplete, so as can be seen from the other principles mentioned, Neo Liberalism also says that with privatisation people will start to have the liberty to outperform each