Posted on February 17, by Scott Alexander I got many good responses to my Considerations On Cost Disease post, both in the comments and elsewhere. A lot of people thought the explanation was obvious; unfortunately, they all disagreed on what the obvious explanation was.
Read more Globalisation Globalisation refers to the integration of markets in the global economy, leading to the increased interconnectedness of national economies.
Markets where globalisation is particularly common include financial marketssuch as capital markets, money Macro economic analysis of mcdonalds credit markets, and insurance markets, commodity markets, including markets for oil, coffee, tin, and gold, and product markets, such as markets for motor vehicles and consumer electronics.
The globalisation of sport and entertainment is also a feature of the late 20th and early 21st centuries. Why has globalisation increased? The pace of globalisation has increased for a number of reasons: Developments in ICT, transport and communications have accelerated the pace of globalisation over the past 30 years.
More recently, the rise of social media means that national boundaries have, in many ways become irrelevant as producers use new forms of communication and marketing, including micro-marketing, to target international consumers. The widespread use of smartphones has also enabled global shoppers to have easy access to 'virtual' global markets.
The rise of new electronic payments systems , including e-Wallets, pre-pay and mobile pay, e-Invoices and mobile pay apps, also facilitate increased global trade. When capital can move freely from country to country, it is relatively straightforward for firms to locate and invest abroad, and repatriate profits.
Increased trade which has become increasingly free, following the collapse of communism, which has opened up many former communist countries to inward investment and global trade. The emergence of footloose multinational and transnational companies MNCs and TNCs and the rise in the significance of global brands such as Microsoft, Apple, Google, Sony, and McDonalds, has been central to the emergence of globalisation.
The drive to reduce tax burdens and avoid regulation has also meant the establishment of complex international business structures.
The advantages of globalisation Globalisation brings a number of potential benefits to international producers and national economies, including: Providing an incentive for countries to specialise and benefit from the application of the principle of comparative advantage. Access to larger markets means that firms may experience higher demand for their products, as well as benefit from economies of scalewhich leads to a reduction in average production costs.
Globalisation enables worldwide access to sources of cheap raw materials, and this enables firms to be cost competitive in their own markets and in overseas markets.
Seeking out the cheapest materials from around the world is called global sourcing. Because of cost reductions and increased revenue, globalisation can generate increased profits for shareholders.
|Globalisation||Over the years I have been exposing the countless lies and myths spread about gold and silver by gold dealers, paid off precious metals promoters and delusional minions who have been hoodwinked by the precious metals pumping crime syndicate.|
Avoidance of regulation by locating production in countries with less strict regulatory regimes, such as those in many Less Developed Countries LCDs.
Globalisation has led to increased flows of inward investment between countries, which has created benefits for recipient countries. These benefits include the sharing of knowledge and technology between countries.
In the long term, increased trade is likely to lead to the creation of more employment in all countries that are involved.
The disadvantages of globalisation There are also several potential disadvantages of globalisation, including the following: The over-standardisation of products through global branding is a common criticism of globalisation.
Clearly, standardising of computer operating systems and platforms creates considerable benefits, but critics argue that this leads to a lack of product diversity, as well as presenting barriers to entry to small, local, producers.
Large multinational companies can also suffer from diseconomies of scalesuch as difficulties associated with coordinating the activities of subsidiaries based in several countries. The increased power and influence of multinationals is also seen by many as a considerable disadvantage of globalisation.
For example, large multinational companies can switch their investments between territories in search of the most favourable regulatory regimes. MNCs can operate as local monopsonies of labour, and push wages lower than the free market equilibrium. Critics of globalisation also highlight the potential loss of jobs in domestic markets caused by increased, and in some cases, unfairfree trade.
This view certainly accounts for the some of the rise in nationalist movements in many developed economies, along with the push for increased protectionism. Globalisation can also increase the pace of deindustrialisation, which is the slow erosion of an economy's manufacturing base.
Jobs may be lost because of the structural changes arising from globalisation. Structural changes may lead to structural unemployment and may also widen the gap between rich and poor within a country.
One of the most significant criticisms of globalisation is the increased risk associated with the interdependence of economies. As countries are increasingly dependent on each other, a negative economic shock in one country can quickly spread to other countries.Economic Recovery Low meal prices are less of a concern for some consumers as a slow economy begins to rebound.
IBISWorld predicts fast food restaurants need to expand their menus when price isn.
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“CEO pay is mostly justified” is not “A known fact”. It is a deeply contested claim debated by mounds of . Macro Economic Analysis of Mcdonalds recognizable logos (the Golden Arches) and spokes character (Ronald McDonald the clown).
According to the Packard Children's Hospital's Center for Healthy Weight children age 3 to 5 were given food in the McDonalds packaging and then given the same food without the packaging, and they preferred the food in.
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