CORPORATE GREED IS KILLING THE ECONOMY (AND THE PLANET).

Climate change is showing it’s effects everywhere at the moment. Floods, forest fires, hurricanes, mud slides, heat waves and just about everything that could go wrong with the planet is happening right about now.

Yet there are people claiming that climate change is a hoax. It is no coincidence that all of these people make profit off industries that are pretty much killing our planet. Profit is the sole reason why we “haven’t found a solution” to climate change yet. Corporate greed already has many adverse effects on various societies/economies in the world, but soon there will be no societies or economies and there will be no world because of it.

Let’s see what climate change will cost us on the basis of few of the factors economists use to study economic development & well-being:

• GDP  “Natural disasters” will have a massive impact on the macro economies of the world. Initially, only the local economies of the affected countries will be impacted, however this impact will gradually spread out and influence other economies. Also, extreme weather conditions lead to governments having to spend millions for extensive repair of infrastructure. The GDP at risk of just the major cities in the world is $1.5 trillion (this might near $2.2 trillion by the year 2025). The global GDP per capita is predicted to be 23% lower in 2100.
• Productivity Climate change will lead to a huge loss in productivity. As we saw with hurricanes Harvey and Irma – many industries were affected; production and trade had to pause and the over all productivity of the areas affected went down drastically. People can’t get to work, consumers can’t reach shops, supply chains don’t function efficiently at all; basically the entire economy is damaged. Climate change will also lead to a less healthy population (more below) which will in turn reduce the productivity of labor in any economy.
• Health Climate change will lead to impure air, unsafe drinking water, insufficient food and fewer options of shelter. The increase in global temperatures is predicted to cause an increase in diseases like malaria, dengue, diarrhoea and heat stress. According to WHO, the direct damage costs to health (i.e. excluding costs in health-determining sectors such as agriculture and water and sanitation), is estimated to be between US$ 2-4 billion/year by 2030.

• Well-being The well-being of majority of the world’s population will be at risk. According to Business Insider, “a 2014 study published in Environmental Research Letters predicted that sea level rise created by a temperature increase of 3 degrees C would force more than 600 million people to find new homes.” The social  and environmental factors impacting health will be affected. About 20 million more children are estimated to go hungry by 2050.

‘Every day we at WFP see the effects of the ravages of weather-related hunger on the people we assist. Every day we see people suffer from droughts and floods. Every year the situation gets worse.’ – Executive Director, World Food Programme

It’s easy to tell that climate change is going to cost the macro economies of the world a lot. Anybody that says fighting climate change isn’t easy because it’s expensive should know that not fighting it means just throwing your money away. (also the cost of fighting it is less by at least $7 billion). Corporate greed and capitalism are the only things stopping us from fighting climate change. Owners of big corporations want us to believe that climate change is a hoax because they’re the ones making profit from causing it. Immediate action against climate change is the only way to sustain the macro economies of the world and the world itself!

WILL DEMONITIZATION SAVE INDIA ?

The BJP government has made a surgical strike on black money. With the new
demonetization policy the liquidity side of the indian market has been affected. About
nearly 86% of currency value in circulation was withdrawn without replacing bulk of it.
As a result of the withdrawal of Rs 500 and Rs 1000 notes, a huge gap in the currency
composition was created as after Rs 100, Rs 2000 was the only denomination.
The highest denomination note ever printed by the Reserve Bank of India was the Rs
10,000 note in 1938 and again in 1954 and they were demonetized in 1946 and 1978.

Demonetization may be creating some trouble for the common people at this particular
time but in the long run we think it will be beneficial for the country’s growth.

With this new policy people have started going cashless. Paytm and other similar
apps are on the rise. Digital India has actually started working with people using
such apps. It has reduced the risk and cost of cash handling as soft money is
safer than hard money. The banking system will also improve rapidly with this.

The policy will also reduce the government’s liability. Since the notes issued by
the government is a liability of the government, this demonetization will reduce
this liability. Thus the government will not be liable to the people who have not
disclosed their income. We expect that approximately Rs 5 lakh crore may come
to the government in the form of extinguished RBI liability, taxes and penalties.

The Demand for gold will increase as more and more people will start shifting in
gold as an alternative to cash deposit in the bank. It will give rise to deposits
through gold monetization scheme. So India will rely less on gold import as gold
deposited through the scheme will be used to meet India’s gold demand. This will
help in strengthening of Indian economy.

It is expected that in the long run the tax and interest rates will go down. The tax
avoidance is going to be reduced. There will be scrutiny in the real estate and
gold sector. The IT department has been already informed of the excess cash
money deposited in the bank accounts within this period. The higher income tax
collections arising from better compliance would offer scope to reduce rates over
the long term.

The liquidity shortage caused by demonetisation will be negative across sectors
with high level of cash transactions. Real estate, jewellery, retailing, restaurants,
logistics, cement and some segments in retail/SME lending space will be facing
short term instability.

We expect a drop in the real estate prices. This will also help upper lower and
lower middle class people to buy houses within their budget.
It is expected that there will be long term growth in the country. It is the right time to
invest in Mutual Funds to ensure high long term returns. Demonetization as a cleaning
exercise may produce several good things in the economy. It will create some
unavoidable tension among the people for a certain period of time but will be fruitful for
the future. Overall economic activites will be dampened in the short term.
The unmeasurable benefits of having more transparency and reduced volume of black
money activities can be pointed as long term benefits.

Thus this short term pain will be beneficial for the long term health of the economy

The Economics of Fear

In our macro economics class, we took a very basic look at why the assumptions of traditional economics are insufficient for decision making. Another important factor in behavioural economics is the issue of fear. There are many examples of how this issue can influence economic decision making.

Insurance.
People are willing to pay a significant amount to prevent a small chance of losing a large amount of wealth. In the long run, insurance is more expensive than the benefits that accrue, but, people prefer the security of knowing they won’t lose everything. However, with insurance there is also the issue of decreasing marginal utility of wealth. We don’t miss the extra £50 a month insurance payment, but, we could not cope with losing our house.

Hysteresis.
This is an idea that people are influenced by events in the past. Even if circumstances have changed, people remember what it was like in the past and this remains a powerful influence over current economic decision making. For example, after a period of economic properity, people may keep spending in the sales, even though their future income prospects are less promising. Expectations of inflation are very much based on past data. High inflation begets more high inflation.

Influenced by Outside Influences.
Consumers are very much influenced by outside media pressures and perceptions of economic reality. For example, an interesing phenomena is how many Americans think America is already in a recession. The American economy is not a recession (even if house prices are falling and there is a credit crunch) Yet, people will talk as if there already is a recession. This fear of a recession can of course make a recession a reality. If people think they are in a recession, their spending will fall (even though their income may be rising) this will lead to lower aggregate demand and lower economic growth. The important thing is that people’s spending is influenced not by their own income, but, perceptions of the general economic outlook.

A good example of this is the run on the bank syndrome. When people heard Northern Rock was in difficulty, people rushed to the bank to withdraw their savings. Because other people were rushing to the bank, many people felt they ought to. This was despite the fact that Northern Rock’s problems did not affect savers directly. It was due to problems of refinancing mortgage loans. But, in this kind of situation there is often a ‘herd’ mentality – people follow what others are doing.

Bounded Rationality
Another issue is that people may be bound by limited information. Therefore, it is not so much fear as inadequate information which leads to irrational decision making. For example, how many American consumers would know the inflation rate and economic growth rate of the American economy.

Booms and Busts
Markets with supposed ‘perfect information’ are often subject to wild fluctuations. In periods of booms people jump on the bandwagon – buying share or houses. But, when market sentiment changes a little, the mood can swiftly change as people frantically sell, trying to get out before the market collapses. There are many examples of prices moving independently of economic fundamentals e.g. dot com bubble and bust of early 2000s.

Bitcoin: the future or a bubble?

If your life is anything like mine (or not), you too would have heard several stories from friends and family about how they were offered to buy bitcoins at a very low amount a while back and now regret losing that opportunity since the value has hiked so much. Bitcoin is everywhere these days – it’s on the news, all over social media – everyone you know seems to be interested in this one thing. But is it really all that?

Bitcoin holds a dark side not many of us are aware of. A huge majority of bitcoin users right now are law abiding citizens that just want to increase the amount of money in their pockets, but that doesn’t mean that big shady transactions don’t take place through this virtual currency all the time. The anonymity that bitcoin offers allows for utmost convenience for crimes to take place. From drug trade to organ trade to human trafficking to an actual ransomware attack, bitcoin is increasingly being used by dangerous crime groups and serious criminals for their benefit.

It’s important to understand that as attractive as the investment seems, there isn’t even an identity attached to the person that created all of this. You will basically be giving your hard earned money to a system where you have no legal recourse, which was created by individuals you (or anyone, really) don’t know at all. In case you lose all this “money” you’ve “earned” in a scam, there will be no way for you to take any legal action towards anyone, thanks to the absolute inability to track bitcoin users.

Apart from all of this, it is also just very volatile. It is known to have drastic ups and downs in its value. It has hiked a few times in earlier years (2010 & 2013), right before experiencing a crazy fall right afterwards.

source: https://blockchain.info/

And in the end, bitcoin is neither a tangible asset, nor a form of fiat money. Owning 1000 bitcoins is virtually a lot but in reality it is nothing. Everyone is investing in bitcoin with the assumption that someday someone else will give them cash in exchange or that bitcoin will become the go to currency for everything. And this speculation is leading to more and more people investing in bitcoins without any research or information (Sounds like many other speculative bubbles, that all burst at some point).

Maybe, rather than trying to entirely ban or halt bitcoin activities, governments can find solutions to use such an advanced technology to their advantage? Maybe there is a reason they haven’t done it yet? Either way, as individuals – it’s better to be safe, than sorry. Just as Warren Buffet said, “If you don’t understand it, don’t invest in it!”

Tell me what YOU think about the bitcoin.

Modern day slavery in Libya

Why is there a slave trade in Libya?
Libya is the main transit point for refugees and migrants trying to reach Europe by sea. In each of the last three years, 150,000 people have made the dangerous crossing across the Mediterranean Sea from Libya. For four years in a row, 3,000 refugees have died while attempting the journey, according to figures from the International Organization for Migration (IOM), the U.N.’s migration agency.
The Libyan Coast Guard — supported with funds and resources from the E.U. and more specifically, Italy — has cracked down on boats smuggling refugees and migrants to Europe. With estimates of 400,000 to almost one million people now crammed up in Libya, detention centers are overrun and there are mounting reports of robbery, rape, and murder among migrants, according to a September report by the U.N. human rights agency. Conditions in the centers have been described as “horrific,” and among other abuses, migrants are vulnerable to being sold off as laborers in slave auctions.
“It’s a total extortion machine,” Lenard Doyle, Director of Media.

How is Libya handling the crisis?
According to CNN, the U.N.-backed Libyan government has launched a formal investigation into the allegations. But Libya is largely considered a failed state. Since Muammar Gaddafi, who ran the country for four decades, was ousted in 2011, the country has descended into civil war. A transitional government failed to implement rule of law in the country, which has splintered into several factions of militias, tribes, and gangs. In lawless Libya, many see the slave trade and smuggling as a lucrative industry. Tackling the country’s humanitarian crisis will require international assistance.

Migrants and refugees stuck in Libya are being sold into slavery, CNN reported earlier this month.

The combination of Libya’s splintered government in the wake of Muammar Gaddafi’s fall and the influx of people from Nigeria has led to a situation where stranded men and women are being held against their will and, in some cases, sold into slavery or prostitution.

“As shocking as it seems, it’s indeed true. The reason [the slave trade] can happen is because there is really no rule of law across much of Libya,” Leonard Doyle of the International Organization of Migration told Al Jazeera.
Each year for the past three years, more than 150,000 migrants and refugees have crossed into Europe from Libya in hopes of making their way to a new life.It’s a treacherous journey. More than 3,000 people have drowned each of the past four years trying to cross the Mediterranean Sea.

Who is buying slaves in Libya?
Smugglers who are now unable to get the people , who have often sold all their possessions in order to pay their way into Europe are holding them against their will. When warehouses overflow or migrants run out of money to pay the smugglers, some are sold into slavery.

CNN recorded footage of men being sold for $400 as farm laborers at a nighttime auction in Libya. This reporting sparked global outrage and international organizations are now making an effort to investigate the situation and provide transportation for stranded migrants.On Wednesday, nearly 250 Nigerian migrants returned to their home country.

Samuel Eto’o and other celebrities lend a hand
As more outlets have started covering the slave trade in Libya, various celebrities have drawn attention to the issue. One professional soccer player’s name has come up often in connection with the coverage.

Samuel Eto’o is a former professional soccer player — a striker for Chelsea, Inter Milan and Barcelona — from Cameroon who was recently rumored to have chartered a plane to fly migrants out of Libya and back to their home nation.
Many other celebrities and public figures have spoken out against the slavery in Libya including civil rights activist Al Sharpton, actress Tessa Thompson, and artists Common and Pharrell Williams.

As we can see that the people of the world do lend a helping hand, but is it enough ? Will there be an end to this tragic way of handling the unfortunate and uneducated people of the world ?does Libya have a chance to rise with this corruption taking over its lawless land ?

Well I believe if , like the E.U and Italy , other countries and organizations lend a hand as the celebrities do , there just might be a chance for the people to start a better life for its future generations at the very least make the foundation and government of Libya more stable . Though the current state of affairs of the country are at its lowest , with a helping hand it may learn to pick up its pieces.

For more information on Libyan slave trade taking place in the modern world click the links to the documentary and CNN report given below;

http://fortune.com/2017/11/29/libya-slave-trade/?iid=recirc_f500profile-zone1

Why is India the most polluted country in the world as per AQI?

Why is India the most polluted country in the world as per AQI?
The rapid growing industrialization is leading lots of environmental issues by its uncontrolled polluted emission. Other reasons of pollutions in India are the destruction of forests, emissions of vehicles, land degradation due to use of poisonous insecticide for agriculture, shortage of natural resources, rampant burning of wood fuel and many more. Pollution is the main reason to lead lots of disease, health issues and long-term livelihood impact.

Diwali , that is celebrated widely across India with a riot of fireworks and firecrackers. And, along with firecrackers comes pollution. Last year, air pollution hit dangerous levels as India celebrated Diwali, the Hindu festival of lights.

It’s a well-known fact that New Delhi out of all the cities in the Capital has the most air- pollution problem as it ranks amongst the 11th worst polluted cities in the world. The average Air Quality Index(AQI) in Delhi has been considered very harmful as per reports by the Central Pollution Control Board’s air quality index bulletin. A distorted air quality index is the most dangerous for children as they are the most vulnerable to air pollution. Scientifically, this is because they breathe twice as fast as adults, thereby taking in more air and pollutants i.e. adversely affecting their growth and immune system. Also, the number of infant deaths has also increased ever since the Air Quality Index has deteriorated.
Air Quality Index
There is widespread agreement that pollution and the quality of air are bad. However, the issue gets stalled there because people don’t impose positive actions towards the issue. This is because they’ll only take action if they understand the issue. Therefore, we need to spread awareness about what the government or other agencies mean by Air Quality Index.
What is an Air Quality Index?
An Air Quality Index India (AQI) is an index for measuring daily air quality. The Air Quality Index India is used by government agencies to communicate to the public at large as to how polluted the air is at present and how polluted it’ll be in the future. Therefore, in layman’s language Air Quality Index Delhi or Air Quality Index Gurgaon, tells you how clean or polluted your air is along with it’s associated health effects in Delhi and Gurgaon respectively.
As the Air Quality Index increases, the likelihood of experiencing adverse health effect also increases. Corresponding to the national air quality standards, different countries different air quality decides, for instance, Air Quality Health Index (Canada) and the Pollutant Standards Index (Singapore).
Cases under which AQI can increase.
Increase of air emissions during rush hour traffic
Increase of pollutants when there is a forest fire
Anticyclone, temperature inversion, or low wind speeds let air pollution remain in a local area, leading to high concentrations of stagnant pollutants in the air, chemical reactions between air contaminants and hazy conditions.
How is the AQI commuted?
AQI is commuted through an air monitor that collects data of the air pollutant concentration over a specified averaging period. The concentration of the pollutants with respect to the time span represents the dose of the air pollutant in the country. Following which an epidemiological research is undergone that lists the given health effects corresponding to the level of pollution or air quality.

Understanding AQI: National Air Quality Index India – Categories
Air quality index values are grouped into categories or ranges. Each category or range is associated with a descriptor, a color code, and a standardized public health advisory.
AQI is a ‘One Number- One Colour-One Description’ for the common man to judge the air quality within his vicinity. Under the current measurement of air quality, 8 parameters.

Categories of Air Quality Index India:
There are six AQI categories, ranging from Good to Severe. And, the AQI takes into account eight pollutants (PM10, PM2.5, NO2, SO2, CO, O3, NH3, and Pb) for which short-term the National Ambient Air Quality Standards are prescribed.

Conclusion
Nowadays air pollution is a common scenario to all developed and industrially developing countries. Indian air pollution is a quite serious issue for human life. Traffic jams and vehicle emission, industrial exhausting, smokes from biomass and fuel wood burning are major sources for Indian air pollutants. However, Indian per capita emissions of greenhouse gases is low, but it is the third largest greenhouse gases producer in the world, only after China and the United States of America. Which change the climate of India as well as direct effects to the human health.
If there is increased awareness about Air Quality Index India and it’s health impacts depending on the various categories can help to reduce the incidence of air pollution to the most vulnerable people. Since acute exposure to air emissions may cause substantial harm to the health of the masses in general. Therefore, there are variables that can be taken to make people aware of the air-emission reports so that they can plan they’re outdoor activities accordingly to reduce the intake of highly polluted.

Air Quality Index Delhi
The Air Quality Index Delhi has been above 500 in the second week of November’17. Even in Air Quality Index Delhi, there are some areas that are more hit than others such as AQI in West Delhi’s Punjabi Bagh (Air Quality Index of 868) and south-west Delhi’s RK Puram (Air Quality Index of 796). The National Air Quality Index reading records up to 50 i.e. considered ‘good’, and up to 100 is considered ‘satisfactory’. A reading between 401-500 is ranked ‘severe’ on the index, which means the air is perilously filled with pollutants. And, Air Quality Index Delhi often records readings above that mark.

Steps to Curb Intake of Pollution

• You can advise elderly people or children to avoid outdoor exertion.
• People with cardiovascular diseases shouldn’t step out.
• In extreme cases, declare a holiday to reduce safeguard not only the sensitive groups but also the masses in general.
• Encourage voluntary measures to reduce air pollution, such as using carpool.
• Recommend people to use masks to keep fine particles from hampering the lungs.
• During a period of very poor air quality, such as an air pollution episode, the government should temporary enforce a ban on coal-burning industries to curtail emissions until the hazardous conditions subside.

International trade & What’s the hold up ?

What is  International trade?

International trade is the exchange of goods and services between countries. Also, global trade could be taken in the context that there are no barriers to trade, thus there is global ‘free’ trade between countries.

 

What’s been going on ?

 

Trade growth has slowed since 2012 relative both to its strong historical performance and to overall economic growth. We see that the overall weakness in economic activity, in particular in investment, has been the primary restraint on trade growth, accounting for up to three-fourths of the slowdown.

 

However, other factors are also weighing on trade. The gradually decreasing pace of trade liberalization and the recent uptick in protectionism are holding back trade growth, even though their quantitative impact thus far has been limited. The decline in the growth of global value chains has also played an important part in the observed slowdown.

 

Many findings suggest that addressing the general weakness in economic activity, especially in investment, will stimulate trade, which in turn could help strengthen productivity and growth. In addition, given the subdued global growth outlook, further trade reforms that lower barriers, coupled with measures to mitigate the cost to those who shoulder the burden of adjustment, would boost the international exchange of goods and services and revive the virtuous cycle of trade and growth. Global trade growth has decelerated significantly in recent years.

 

After its sharp collapse and even sharper rebound in the aftermath of the global financial crisis, the volume of world trade in goods and services has grown by just over 3 percent a year since 2012, less than half the average rate of expansion during the previous three decades. The slowdown in trade growth is remarkable, especially when set against the historical relationship between growth in trade and global economic activity.

 

Between the years of 1985 and 2007, real world trade grew on average twice as fast as global GDP, whereas over the past four years, it has barely kept pace. Such prolonged sluggish growth in trade volumes relative to economic activity has few historical precedents during the past five decades.

 

The reasons for the weakness in global trade growth are still not clearly understood, yet a precise diagnosis is necessary to assess if and where policy action may help. Is the waning of trade simply a symptom of the generally weak economic environment, or is it a consequence of a rise in trade-constricting policies?.Private investment remains subdued across many advanced and emerging market and developing economies and China has embarked on a necessary and welcome process of rebalancing away from investment and toward more consumption-led growth.Many commodity exporters have cut capital spending in response to persistently weak commodity prices

 

Pattern of International Trade

The main pattern of trade is that developing countries tend to export mainly primary goods, and import mainly manufactured goods and In developed countries the pattern is the other way around – they tend to import primary goods and export manufactured goods.

And the issue is ?

The issues of international trade and economic growth have gained substantial importance with the introduction of trade liberalization policies in the developing nations across the world. International trade and its impact on economic growth crucially depend on globalization. As far as the impact of international trade on economic growth is concerned, the economists and policy makers of the developed and developing economies are divided into two separate groups.

 

One group of economists is of the view that international trade has brought about unfavorable changes in the economic and financial scenarios of the developing countries.

 

The other group of economists, which speaks in favor of globalization and international trade, come with a brighter view of the international trade and its impact on economic growth of the developing nations. With these two outlooks there are varied ideologies which affect the various economies that come into play as per the region there and situated in.

Developing countries believe they get a raw deal when it comes to international trade. These problems include

 

• Relying on only one or two primary goods as their main exports

• They cannot control the price they get for these goods

• The price they pay for manufactured goods increases all the time

• As the value of their exports changes so much long term planning is impossible

• Increasing the amount of the primary good they produce would cause the world price to fall

• Developing countries that try to export manufactured goods find that trade barriers are put in their way. There are two types of trade barrier – quotas and tariffs.

• A quota is a limit on the amount of goods a country can export to another country

• A tariff is a tax on imports

• Other problems that developing countries face are they are short of the money that is needed to set up new businesses and industries.

• Also, developing countries have fewer people who have the wealth to buy the goods made in local industries.

 

 

Transitionals

 

• By setting up factories in different countries to manufacture or assemble components, companies can produce goods more cheaply and efficiently.

• Today, these ‘transnational’ companies (TNCs) control two thirds of world trade.

• With more open trade, TNCs have greater freedom to shift location to developing countries where wages are lower and they are less restricted by environmental controls.

• Globalisation can mean that products are manufactured in more than one country.

 

 

Several benefits that can be identified with reference to international trade are as follows:

 

• Greater Variety of Goods Available for Consumption:

 

International trade brings in different varieties of a particular product from different destinations. This gives consumers a wider array of choices which will not only improve their quality of life but as a whole it will help the country grow.

 

• Efficient Allocation and Better Utilization of Resources:

 

Efficient allocation and better utilization of resources since countries tend to produce goods in which they have a comparative advantage. When countries produce through comparative advantage, wasteful duplication of resources is prevented. It helps save the environment from harmful gases being leaked into the atmosphere and also provides countries with a better marketing power.

 

• Promotes Efficiency in Production:

 

International trade promotes efficiency in production as countries will try to adopt better methods of production to keep costs down in order to remain competitive. Countries that can produce a product at me lowest possible cost will be able to gain larger share in the market.

Therefore an incentive to produce efficiently arises. This will help to increase the standards of the product and consumers will have a good quality product to consume.

 

• More Employment:

 

More employment could be generated as the market for the countries’ goods widens through trade. International trade helps generate more employment through the establishment of newer industries to cater to the demands of various countries. This will help countries to bring-down their unemployment rates.

 

• Consumption at Cheaper Cost:

 

International trade enables a country to consume things which either cannot be produced within its borders or production may cost very high. Therefore it becomes cost cheaper to import from other countries through foreign trade.

 

• Reduces Trade Fluctuations:

 

By making the size of the market large with large supplies and extensive demand international trade reduces trade fluctuations. The prices of goods tend to remain more stable.

 

• Utilization of Surplus Produce:

 

International trade enables different countries to sell their surplus products to other countries and earn foreign exchange.

 

• Fosters Peace and Goodwill:

 

International trade fosters peace, goodwill, and mutual understanding among nations. Economic interdependence of countries often leads to close cultural relationship and thus avoid war between them.

Conclusion:

International trade is a very important part of an economy and if a country wants to survive in this world so that country needs to work on its exports need to work on all parts of trade which are interlinked with trade like the fridge rate, trade policies and stable political environment. International trade increase GDP of an economy, and when a country to manage to develop a trading country it need to increase its exports because when the exports are greater than imports it means GDP is increasing and the country is becoming economically stable.The Significance of trade is known to every country and that why the develop countries work more on international trade, they example of Japan , China and India is in front of us, these countries are the trading countries and the people of these countries are happy and the unemployment rate is less than other countries. By Improving International trade the country can fight with unemployment and can remove the inflation from country, when there will be trade the flow of cash will increase and economy will become more stable and value of money will increase. The international trade not only gives benefit to the country itself it also give benefit to those countries that are interlinked with that country. By Introducing international trade a country can make a good relationship with its neighboring countries and regional countries this relationship can help the country to build long term relationship. A country that does not have proper trading system cannot survive in these difficult situations , now a day the agreements among countries are very helpful and can give benefit to nations, these agreements are long term agreements but the benefits are also long term benefits.

Technology impacts on Globalization

Although there is no singularly agreed upon definition, globalization is often understood as the process through which products, people, ideas, culture, and capital, are transferred around the world creating a system of global integration. Whereas in the past some nations or societies could stand alone and be self-sufficient, today all nations and almost all people are part of an interdependent global order.

One of the main driving forces of globalization, or at least the thing that highly facilitates this global interdependence, is technology. Because of computers and advances in the transportation of people and data, goods and services can be seamlessly and easily transferred around the world. With the technological capabilities we have today, people in countries far away do not have to wait days or weeks to communicate with each other and exchange items. These sorts of global transactions can occur instantly, in real time.

To understand both the complexity of globalization, it may be useful to consider whether globalization is making the world smaller or larger.

As a study done by the world-famous Economist it seemed to be suggesting that the world was getting smaller to the extent that old and local ways of doing things were giving way to more. They would agree that there is a “compression of the world” such that people across the globe share many of the same things.  As a specific example, they mentioned how we are moving from “numerous national and local literatures” to a “world literature.”

But, when its come to literature its signals the ascendancy of a global culture. As an example, If you have ever travelled, you know that you are likely to find certain products such as McDonalds, Pepsi, Coca Cola, Apple, and Microsoft, in all corners of the world. As we knew a hungry man who is traveling would likely stop at a local restaurant and sample some of the specialized delicacies. But, Today the same traveller is often choosing between chicken Nuggets from McDonalds, fried chicken from KFC, and a chicken sandwich from Subway—the exact same choices the traveller has back in his home country.

On the other hand, we can make an argument that the forces of technology on globalization have opened the world up to such an extent that the world is larger than it’s ever been. With advances in telecommunications and transportation, the world has become a huge and inviting landscape for exploration and engagement with each other. Now, traveling to each part of world has become so easier, we can communicate with people from foreign cultures and locales, and we can pursue new opportunities for professional and business growth.

It is not an exaggeration to say that globalization and technological advances are impacting our lives every day. however, i9t’s true that the effects of globalization and that we realize also how these effects are occurring so rapidly and regularly and effecting our life.

 

 

THE RETURN TO AGRICULTURAL REVOLUTION

The very first agricultural revolution dates back to 10,000 BC, that involved a change from hunting and gathering to stationary farming. Within a matter of time, this agricultural revolution evolved into industrial revolution. The Industrial revolution paved way for new beginnings and new requirements; such as skilled labour, large areas of lands for factories, a lot of ‘natures gifts’ etc.

Even today, people believe that economies that emphasize on their agriculture sectors are the underdeveloped or developing countries and countries that have the strongest manufacturing sectors are the developed nations. Of course, the manufacturing sector did play a major role in the economic growth due to factors such as high employment in the factories. Asian countries grew rapidly as they shifted their labour from low to high productive sectors.

Nicholas Kaldor, an economist during the post war period argued that ‘Manufacturing is an engine of growth’, and it certainly was. However, this theory proved right only from 1992 until 2007. Countries such as China and U.S being the most competitive manufacturing nations are still focusing on their manufacturing industries for economic boost. Every other economy is slowly shifting their focus on agriculture to manufacturing sector thinking that the manufacturing industry will boost their GDP’s and development rate. The sad truth is, manufacturing industries are no longer capable of boosting an economy, at least not to a very great extent. If we continue like this, a day will come when no country is able to provide or buy raw materials due to the deterioration of the agriculture sectors.

Working in the agricultural sector is considered the least reputed job in many countries, this should change. People must know the importance of agriculture and the adverse effect it has on the economy and the development of a country. Following are few of the many benefits provided by the agriculture sector in an economy:

• Having a strong agriculture sector means providing enough food to people and not having to rely on imports for raw material.
• Keeping in mind the state of the planet now, having enough natural raw materials to export is going to be a great boost for the economy. The economy can earn valuable foreign exchange.
• The agriculture sector ensures jobs for the unskilled, illiterate workforce. In India, around 62% of the labour force belongs to the agricultural sector
• It ensures equality in jobs.
• The agricultural sector requires very less capital compared to other sectors. Thus, this sector can be well promoted.
• During a depression phase, industries may face major downfalls. However, agriculture industries can still continue production since their capital requirement is low and it can feed the economy.
• Developing and underdeveloped nations require a lot of capital for its development. Agriculture sector can contribute to this economic growth
• Agriculture sector provides employment opportunities for people of the rural areas and improves their welfare.                                                                                                         

The agriculture sector is one of the most important roads to take to economic growth and development. It also contributes to the welfare and health of a people and can also help in the sustainable goal to eradicate hunger. Today, in our race to becoming a developed nation, we forget that we’re destroying our natural capital, our resources. We often say we must remember where we started, and now, it is high time we do so.

BIO-MIMICRY: THE QUICKEST ROAD TO SUSTAINABILITY

We humans are surrounded by brilliant people, by brilliant ideas and by brilliant inventions. Could anything possibly outsmart the human brain? Of course there has to be something, and that something is what we call Nature.

Janine Benyus

First and foremost, let us give the credit to Ms.Janine Benyus, founder of The Biomimicry Institute and the reason why bio-mimicry is popular today. According to her, the best and the most brilliant ideas come from nature.

“What if every inventor, at the moment of creation asked ‘How would nature solve this?'”

There are a million things that we could observe, learn and mimic from nature. Many companies have already borrowed ideas from nature. Few of the most interesting examples are:

• CALERA :   This Cement manufacturing company mimics nature’s use of Carbon dioxide. Organisms, unlike humans don’t think of carbon dioxide as poison,  instead things like coral reefs use it as it’s building block. This company borrows the recipe from these reefs, without causing any harm to them. It uses carbon dioxide as a building block in cement.
• LOTUSAN : This company creates self-cleaning paint, inspired by the lotus leaf. The company modeled the micro texture on the lotus leaf. The lotus leaf has bumps that do not let water to stay on the leaf, instead forms beads that roll down carrying dirt particles with them. The paint works the same way. When it comes in contact with water, it cleans itself.
• BIOMATRICA : A San Diego based company imitates the working of ‘Tardigrades’ that are capable of drying itself to up to 120 years. It used this mechanism to freeze vaccines so that they do not need to be refrigerated.
• SKYRIVER  : This company produces water dispensers that make water out of thin air! The idea is taken from a creature called the ‘pillbug’. The pillbugs have special tube shaped structures called uropods on its rear that can produce water from air whenever it wants to quench its thirst. The same mechanism was used in this machine.
• GECKOBIOMEDICAL : This biomedical company produces surgical glues that are safe to use on even the most sensitive parts of the body. The company’s idea was inspired by sandcastle worm secretions. These worms secrete protein-based adhesives that they use to hold their building materials together, such a sand, while creating tube shaped homes.
• FLUID EARTH: This surfing board manufacturing company imitates the bumps on the fin of a humpback whale. The bumps on the board increase efficiency, decrease drag and increase lift by 40% .
• PHILIPS HEAD PROTECTION SYSTEM (PHPS) : This company fits in a specially designed membrane on the outside of a traditional helmet to reduce risk of head injuries. The membrane reduces the direct impact on the head by 60%. This whole idea was inspired by god’s most brilliant creations, the human itself. The skin on the human body protects and acts as an additional layer to the skull.

These are only few examples of how the world is working its way towards sustainability. It’s a very smart move if you think of it – saving the environment by borrowing ideas from the environment itself. If – like Ms.Janine mentioned, if we all thought how nature would resolve an issue, we can always find the most sustainable and safest ways to create things.

Tourism VS Terrorism

I’m not much of an economist , but if there is one thing I know among many others in economics is that tourism and terrorism are two major factors that shake the sane economic status of any country .Even though both factors aren’t humanly intended to go with each other ,one doesn’t seem to have much of an impact on the other as we all imagine . A recent study issued by World travel and tourism council (WTTC) stated that even though there is a lot of terrorism around the world , people still travel and expect the government to take measures against these inevitable disruptions.

 The recent attacks in London and Manchester had some major impact on the people , making them feel that there is not any safe place to travel to in this world and how times have changed .But terrorism still remains just one factor that affects the growth rate or tourism in any country . other threats like cyber terrorism , local-violence , spread of diseases , political unrest etc . are just some among the many other factors that could affect the tourism section of a country . According to WTTC it takes 21months to tourism to recover from a medical epidemic , 24months incase of an environmental disaster and 27months for political instability . Recovery would take much longer in the case of natural disasters because of the requires for rebuilding the infrastructure

 Obviously any sane country would support tourism over terrorism as it encourages economic growth and the other doesn’t and work towards putting tourism over terrorism  . In the year 2014 , the Institute of Economics and Peace put the cost of terrorism at $52billion .The 9/11 attacks in New York cost $27.2billion, but other sources beg to differ and state it cost around $3.3 trillion from including in direct and long-term expenditure.

Terrorist attacks always has an immediate impact on the short-term markets . Investors confidence is one of the most obvious consequences of such , Consumers cancelling their tickets from travelling , air-ports , hotels , restaurants etc would affect the revenue of the country .Even though terrorism affects a major portion of a country’s economy , some countries like USA are known to be very resilient to these attacks . after the 9/11 attack in New York GDP dropped by half a percent point while the stocl market recovered within a month . But for some countries like Egypt which aren’t much resilient terrorism remains a major reason to the diminishing economic growth rate , since Egypt relies manly on tourism for its income , constant terrorist activities discourages tourism in the region . Looking at the impact of terrorism on a long-term basis the chances for a well developed country to recover is most likely and easy , plus tourism can never be stopped by usually postponed .

 In some cases the level of tourism would increase in one country because of increase in terrorist activities in another country, as people might feel safer in a different country .Migration is also something that could happen because of increase in terrorism .

In conclusion I would say tourism and terrorism are two factors  that wont fit in a country at the same time , unless people have a different definition the word tourism or the existence of a bunch of insane enthusiastic people in the world .