Globalization Literature

Globalization Literature AHONARUOGHO YEWANDE Globalization is an undeniable phenomenon, which is rather hard to put into words and as a result can be explained in various ways. Globalization which encompasses variant aspects of the modern world, bringing nations of the world closer into a single society through culture, economic transactions, politics, technology and social interactions; is making an ever changing world. GPF (online) [n.d] According to Beck (2000) [online] Globalization regardless of how it is individually interpreted gives the implication of the deterioration of a state’s sovereign poewer and the structures that guide the territory. â€Å"The world-wide interconnectedness between nation-states becomes supplemented by globalization as a process in which basic social arrangements (like power, culture, markets, politics, rights, values, norms, ideology, identity, citizenship, solidarity) become disembedded from their spatial context (mainly the nation-state) due to the acceleration, massification, flexibilisation, diffusion and expansion of transnational flows of people, products, finance, images and information† this states that due to the increased flexibility and ease of mobility of many factors in an economy that social arrangements have become disembedded from their nation states, all of which is known as globalisation. beerkens (2004) [online] â€Å"The characteristics of the globalization trend include the internationalizing of production, the new international division of labor, new migratory movements from South to North, the new competitive environment that generates these processes, and the internationalizing of the state making states into agencies of the globalizing world.† This quote is informing about the concepts and characteristics that make up globalization focusing on the internationalization of many aspects of economies. Cox (1994) [online] Nations tend to come together in form of global unions, these unions are economic to some extent, and such exist within trade blocs. Trade bloc is an agreement which is formed between states, regions or countries in order to reduce the trade barriers which make trading inconvenient, amongst the regions involved. A well know example of this form is NAFTA, which is a trade agreement between the United States, Canada, and Mexico. Opponents to trade blocs view such agreements are harmful to free trade on a global level Investorwords (online) [n.d]. Trade blocs have rules that guide their interaction with nations within the economic union as well as those that are not members of the union. Manish (2012) [online] Trade blocs are of different varieties, requiring different levels of commitment and arrangements from the members of the union. To be of the view that globalization is purely an economic union would be false and incorrect as just trade blocs show globalization as six different forms of unions. Manish (2012) [online] Trade blocs have certain objectives goal which they aim to achieve, one of which is to remove the restrictions to trade among the members of the union, there by promoting free trade and faster movement of resources between members. BMS (2013) [online] Trade blocs aim to improve the social, economical, cultural and political relationship between its members through the integration of economies, social programs could encourage this promoting peace in the region. BMS (2013) [online] Trade blocs have the objective of achieving an increase in economic growth amongst its members. As a result in the reduction in trade barriers, it puts firms in a position to produce at lower prices, which would in turn increase demand and lead to a large scale of production. This can result in economic growth and attract investment. BMS (2013) [online] A Preferential Trade Areas is also a type of trade bloc, interconnecting the nations of the world on an economic level, this is the least committed to trade barrier reductions. In this union members lower but do not eliminate trade barriers amongst themselves and no set arrangement is agreed about their interactions with non- members. Manish (2012) [online] Free Trade Area is the next stage after, the Preferential Trade areas, all trade barriers are eliminated for members when relating with each other, so all the members are able to import and export goods and services amongst themselves. An example is the ‘North American free trade agreement’ of 1994 between the Canadians, Mexicans and the US; these members establish independent trade policies when relating with non members. Manish (2012) [online] another free trade area example is the European Free Trade Area. Shahid (2010) [online] Customs Union is the third trade bloc. The member states remove internal trade barriers as well as also agree to implement the same set of common policies when dealing with non member states. Customs union of Russia, Belarus and Kazakhstan, which was initially created in 2010, is a custom union; other custom unions include European Union Custom Council, East African Community. Manish (2012) [online] The Common Market is a trade union where member’s internal trade barriers are removed, common policies/ barriers are implemented for dealing with trade involving outside parties and free movement of resources such as ‘labor’ exist. Examples of common market include â€Å"Mercosur (Southern Cone Market)†, East â€Å"African Common Market†, European Economic Area and â€Å"West African Common market†. Manish (2012) [online] An economic union is one of the trade blocs that exist between nations that further make the nations of the world more integrated and connected. It requires members to remove internal barriers and agree to use common barriers for externally, allowing free movement of resources and adopt a unified set of economic policies. The European Union is an example of such; with one currency they have adopted one monetary policy. Manish (2012) [online] An economic union such as the European Union speeds up the process of globalization, increasing trade amongst the members of the EU as well as increased labor and capital mobility such as migration of Poland citizens to the United Kingdom and Ireland. The EU has expanded its sphere of influence to over 20 countries, making for over 356 million in population. Pettinger (2008) [online] Other economic unions include CEMC (economic and monetary community of central America), OECS (organization of eastern Caribbean states), UEMAO (west African economic and monetary union).shahid (2010) [online] In addition to the integration of the nations belonging to the trade blocs it is also seen that globalization is further aided by trade blocs which make negotiations easier on a global level. An case relating to trading negotiations is, the European Union bargains as one singular bloc making it easier and faster to push through practices which increase free trade. Pettinger (2008) [online] Full Integration is the final stage, coming after economic union. The members become fully integrated; an example is the United States. Manish (2012) [online] When viewing the definition, principles and aims of both globalization and trade blocs, they complement each other, both resulting in interdependence and increase in trade; Wang (2010) [online]. As a result it is easy to assume that globalization is purely an economic union formed by trade blocs. However, it should be noted that trade blocs can be seen as a hindrance to globalization because it promotes regionalization and not global elimination of trade barriers, causing conflicting parties to fight for regional interest; thereby building trade barriers for the rest of the world and preventing the importation of goods from other countries; Wang (2010) [online].This contradicts with globalizations purpose of one world and interlinking of all nations and â€Å"free trade† amongst all; Wang (2010) [online]. For example, the EU’s CAP placed high tariffs on importation of food and the dumping of surplus food items onto world markets. Pettinger (2008) [online] Trade blocs especially at its most integrated economic level when a common currency is established and a common fiscal policy within the union exists among the members- economic union- it leads to reduction of the power and sovereignty of a national government over its own territory. Although the states can take independent decisions to influence the total demand, income allocation and the level of production of their economies through the use of simple fiscal policies unless common fiscal policy is implemented in the economic union. As a result monetary and fiscal policy integration is the basis for an economic union and the application deepens the integration of its members, making it a single economic union and removes all kinds of economic borders. Hashimov (2013) [online] Trade blocs provide a larger market for exportation of goods, this creates a forum for the global products which can be linked between nations of the world, and this creates the possibility for more revenue for nation states. Admin (2012) [online] Trade blocs due to the integration of markets leads to increase in competition and productivity on the part of the nations belonging to the same trade bloc, ensuring to produce quality goods while the consumers had increased choice and lower prices due to the size of the market and number of competitors. Admin (2012) [online] Trade blocs make for a higher and increased rate of investment due to the larger market available as market is expanded. Admin (2012) [online] Trade blocs however have the negative effect, for example they undermine the efforts of WTO (world trade organization) because there is a possibility that the whole world would become regionalized and that would prevent trade liberations due to the rules and norms associated with trade blocs. Trade blocs would deter the WTO goals and undermine international trade laws. Admin (2012) [online] Trade blocs have the negative effect to globalization of creating unfriendly political tension and â€Å"hindering diplomatic relations† between members of a trade bloc and non member through discriminatory policies. Admin (2012) [online] Other factors unrelated to the trade blocs are important and significant to globalization. The main contributing factors to globalization could be argued but these are some factors that are contributing: Improvement in technology which enable global transport and communication to be carried out much easier, which also helps reduce the barriers of distance. Pettinger (2008) [online] the level of improvement in technology of transport and communications has led to a reduction in the prices for transferring goods, service and factors of production as well as making it easier and cheaper to communicate economically useful knowledge and technology. Mussa(2000) [online] Information technology is a main contributor in the process of globalization in form of a catalyst, it increases the accessibility of information and economic potential. Enabling for efficiency in the economies of nations as political and commercial information can be transferred easily and at a fast rate. Information technology encourages the creative use of resources to promote and advertise new products and ideas across borders and cultures regardless of its geographical location. Technology is now the leading factor of the modern world creating employment, new ideas, and networking sites which enables global connection and communication.globalisation101 (n.d) [online] The growth of multinational companies. Pettinger (2008) [online] Globalization is also a political union of nations around the world, there are military-political blocs existing which is a union among states that have agreed to unite, cooperate and have unified actions and responses to address common political, economic and military tasks. Encyclopedia(1979) [online] an example of a political union is NATO. G. Bertucci and A. Alberti , wrote an article â€Å"Globalization and The Role of the State: Challenges and Perspectives†, in which it was stressed that economic globalization is in actuality as a result of political decisions made my nation. Stating that the expansion of international trade as well as finance and investment Transactions do not radically influence the role of nations while the high level of collaboration and joint active show states exercising their sovereign authority over their territories. Thus the authors are of the view that collaborative action instead of weakening their authority over their state reinforces their authority by creating a more secure global environment and greater possibility for exchanges in different areas. Hashimov (2013) [online] Globalization is also an economic union, it impacts employment, working conditions, income and social protection. Beyond the world of work, the social dimension encompasses security, culture and identity, inclusion or exclusion and the cohesiveness of families and communities. Todayszaman (2010) [online] In conclusion, globalization is an economic union of nations after all globalization is generally referred to as â€Å"economic globalization† as it brings nations of the world together and forms a more integrated and interdependent world. Economic union has led to increased flow of information and ideas, and had led to a change in the way nations interact amongst themselves. However it should be noted that economic unions can be seen as a hindrance to globalization itself which contradicts the view that globalization is an economic union and in addition globalization is also a political and social phenomenon not solely economical. Bibliography Electronic devices Admin (2012) [online], advantages and disadvantages of trading blocs, available at http://wisebrain.info/explain-the-advantages-and-disadvantages-of-joining-a-trading-bloc-international/, [accessed on the 3rd of February] Beck (2000) [online], what globalization represents, available at http://www.beerkens.info/files/globalisation.pdf, [accessed on the 1st of February] Beerkens (2004) [online], How globalization is affecting the world, available at http://www.beerkens.info/files/globalisation.pdf , [accessed on the 1st of February] BMS (2013) [online], objectives of trade blocs, available at http://www.bms.co.in/objectives-of-trading-blocs/, [accessed on the 3rd of February] Cox (1994) [online], understanding the chaacterisyics of globalization, available at http://www.beerkens.info/files/globalisation.pdf, [accessed on the 1st of February] Encyclopedia (1979) [online], definition of political blocs, available at http://encyclopedia2.thefreedictionary.com/Military+Bloc, [accessed on the 3rd of February] GPF (online) [n.d], globalization definition, available at http://www.globalpolicy.org/globalization/defining-globalization.html, [accessed on the 2nd of February] Hashimov (2013) [online], economic globalization and the role of nation-state in economy, available at http://www.academia.edu/3721679/ECONOMIC_GLOBALIZATION_AND_THE_ROLE_OF_NATION-STATE_IN_ECONOMY_THE_CASE_OF_EU, [accessed on the 2nd of February] Manish (2012) [online], compositions of trade blocs, available at http://financetrain.com/trading-blocs-common-markets-and-economic-unions/, [accessed on the 3rd of February] Mussa(2000) [online], driving factors of economic integration, available at http://www.imf.org/external/np/speeches/2000/082500.htm, [accessed on the 2nd of February] Pettinger (2008) [online], The significance of economic blocs to globalization, available at http://www.economicshelp.org/blog/1019/economics/trading-blocks-and-globalisation/, [accessed on the 2nd of February] shahid (2010) [online], trading blocs and globalization, available at http://www.slideshare.net/Abdullah2012/globalization-trading-blocks, [accessed on 3rd of February[ Wang (2010) [online], relationship between regional trading blocs and globalization, available at http://www.ccsenet.org/journal/index.php/ijef/article/viewFile/4955/4119, [accessed on the 2nd of February] Todayszaman (2010) [online], social and cultural impact of globalization, available at http://www.todayszaman.com/columnists/dogu-ergil_204938-social-and-cultural-impacts-of-globalization.html, [accessed on the 3rd of February] 1

Distance Learning Followed by World Première :: Katalin Pocs Evening Song Music Essays

Distance Learning Followed by World Premià ¨re Esti Dal (Evening Song) by Katalin Pà ³cs was written for the Indiana University International Vocal Ensemble and harpist Erzsà ©bet Gaà ¡l in January 2000. The composition received its world premià ¨re conducted by Professor Mary Goetze on April 9, 2000 at IU School of Music, Bloomington, Indiana. Katalin Pà ³cs is one of the leading members of the young generation of Hungarian composers. Her compositions include orchestral and chamber works that have been performed throughout Europe. She has performed some of her own piano music in Berlin, Gdansk, Moscow, Munich, and Vienna. In addition, Pà ³cs has written electronic works that were performed in Canada, as well as works for harp, for example a Septet called Vibrarions and a solo piece called Ballade which were introduced by Erzsà ©bet Gaà ¡l in Hungary and in the United States. In her setting of the folk song Esti Dal, Pà ³cs employs the sounds of mixed choir, harp, and synthesized music. These three elements blend together to express the song's text about wandering, weariness, and a plea to God for rest and shelter. This choral work connects the past with the present by incorporating an ancient tonal Hungarian folk song into a modern texture with harp accompaniment. The addition of an electronic sound track that creates new relationships between consonance and dissonance in the music juxtaposes tradition with present 21st century practices. Mary Goetze is a Professor of Music and Chairperson of the Music in General Studies Department. She founded the International Vocal Ensemble in 1995. The choir specializes in the recreation of music from outside the European and American art traditions. Through the learning process, the choir becomes acquainted not only with the music itself but also with the related aspects of the culture and language. In 1996, Dr. Goetze was awarded a grant from Indiana University for a project entitled "Multicultural Music Education" which allowed her to do research in Zimbabwe and South Africa. Currently she is co-authoring a series of CD ROM's that facilitate the oral transmission of vocal music from diverse sources. In preparation for the first performance, the International Vocal Ensemble had the privilege to work with composer Pà ³cs on her new composition through a satellite hook-up connection between Budapest, Hungary and Bloomington, Indiana that was made possible by the Center for the St udy of Global Change on IU's campus. A technology called interactive compressed video opened the door for the choir and the composer to work together on Esti Dal notwithstanding a difference of six time zones.

Albert Einstein Leadership

Robert Bruce August 10, 2012 Leadership The Accidental Leader Albert Einstein was a world-renowned German-born theoretical physicist. Best known for his theory of relativity and famous equation of E = mc2 the expression of mass-energy equivalence. In 1921 he received the Nobel Prize in Physics â€Å"for his service to Theoretical Physics, and his discovery of the law of the photoelectric effect. His numerous contributions to physics include his special theory of relativity, which brought together concepts of mechanics and electromagnetism, and his general theory of relativity, which was intended to extend the principle of relativity to non-uniform motion and to provide a new theory of gravitation. The physics community reveres Einstein; with over three hundred published scientific works and over one hundred and non-scientific works, Einstein’s influence on modern theoretical physics is irrefutable. In a broader sense, he is regarded as one of the most influential people in hu man history.In 1999, he was name Time magazine’s â€Å"Person of the Century†. Einstein became a German citizen in 1914, but showed feelings of being pressured into accepting Germany citizenship by the Academy. There were growing tensions in Germany after World War I towards Jewish people. Albert was not a practicing Jew but faced the same prejudice and injustice Jewish people across Europe would feel under Hitler rule. Einstein’s fears of a Nazi-ruled Germany came to reality in 1933 when Hitler was appointed Chancellor of Germany.Hitler's administration introduced the Law for the Restoration of the Professional Civil Service, which removed Jews and politically suspect government employees (including university professors) from their jobs, unless they had demonstrated their loyalty to Germany by serving in World War I. Einstein remained in Berlin until 1933 when he renounced his citizenship and emigrated to America to take the position at Princeton University. M eanwhile, in Germany, a campaign began to eliminate Einstein's work from the German lexicon. Activists published pamphlets and ven textbooks denigrating Einstein, and instructors who taught his theories were blacklisted. Albert’s upbringing and personal life form the foundation of Einstein, the man, the leader, and the genius. Jurgen Neffe sums up Einstein’s childhood with the line, â€Å"A child like Albert, in the view of the German-born American psychoanalyst Erik Erikson, ‘today would be subjected to specialized examination and, perhaps, to treatment. ’ Fortunately Einstein was spared that. † Einstein’s childhood was unique even to the standards of late Nineteenth Century Europe.Young Albert was not pressured into sports and social circles by his parents; instead left to create his own supplementary curriculum and study with his engineer uncle. Einstein had help developing intellectually but that was not the case with social interactions. As Albert grew he kept a childlike way about him except when it came to women. Neffe uses Albert’s love letters extensively to show his fascination with the other sex and derives, â€Å"Einstein’s correspondence with women invariably reveals he regarded [women] almost as playthings. However Neffe neglects to connect Albert’s early successful form of communication to his later dependence on written correspondence. According to Neffe, Albert was very successful with women but not at relationships. Neffe describes his interactions with his two sons and divorced wife as if they were circumstantial, but Albert clearly felt himself a better father and provider if the relationship was on paper. The seclusion Albert was then thrust into because of his divorce allowed him to delve wholly into his work.Albert Einstein’s will to think was engrained in his psyche at an early age. Neffe finds this point to be a singular incident. During this phase, one experience in particular made a â€Å"deep and lasting impression† on Einstein: the day â€Å"my father showed me a compass. † He was surprised that its needle always pointed in the same direction without being touched. â€Å"Something deeply hidden had to be behind things. † The initiation of a genius? The â€Å"miracle† sheds light on the enigma of his uniqueness only up to a point.Nearly every child is amazed at the sight of a quivering compass needle or some other baffling physical phenomenon. As Einstein advances in years he becomes more focused on his work. Albert’s personal studies are the only consistent force in his life and soon encompass his life. Einstein’s obligatory migrations forced him to completely embrace his studies as a defense mechanism. There is a childlike quality that remains present in many men considered geniuses, but fails to connect to Einstein’s upbringing.The focused, isolationist psyche developed in his youth stayed with the man and developed the genius. Neffe describes the genius Albert Einstein’s contributions to science as indispensable. Neffe writes. â€Å"In addition to his contributions to the foundations of modern physics, he also made essential inroads in chemistry, provided the theoretical basis for the development of the laser, and, in his insatiable curiosity, answered questions such as why rivers bend and why the sky is blue. † Einstein’s isolation and devotion to his thoughts allowed him to develop his amazing theories.Neffe describes Einstein’s collaborations with other scientist and students in relation to work but does not fully describe the awkwardness that must have occurred between men of their nature. Einstein was turned down for many teaching positions and only received an honorary PhD. It is evident that every scientist greatly admires the dedication of Einstein to his work. A half-century after Einstein’s death, his theories, and the min d that spawned them, remain as baffling as ever to the public. Neffe offered a valid attempt to explain what created Einstein.He determines the defining moment of Einstein’s life at Nov. 6, 1919, the day when a joint session of Britain’s Royal Society and Royal Astronomical Society announced it had confirmed Einstein’s grandest idea, the general theory of relativity. According to the theory, gravity can generate enough force to bend light. Sir Frank Dyson, the Astronomer Royal, announced that the results left â€Å"no doubt† about the validity of Einstein’s prediction. Years later it was uncovered that the results in fact left considerable doubt, but Einstein’s supporters intuitively felt that the theory must be correct.The Times of London declared the finding â€Å"one of the most momentous, if not the most momentous, pronouncements of human thought. † Within days other media around the world followed. In an instant, Neffe writes, â €Å"Albert Einstein was reborn as legend and myth, idol and icon of an entire era. † Einstein showed his true qualities as a leader preceding and following World War II. Preceding the war, the German-Jew immigrant had the power to write the president, Theodore Roosevelt, urging leadership to begin nuclear weapons research to keep pace with Germany.Einstein’s nuclear theories, formulated for energy production, became the foundation for the work done during the Manhattan Project. Following the war, Einstein had the foresight to see the perils of a nuclear arms race and led the movement to slow nuclear progression. Einstein’s leadership qualities were honored the most when he was offered the Israeli Presidency by the government of Israel. Einstein’s influence was derived from his expert power and conceptual skill. Einstein never set out to be a leader, yet made some of the greatest contributions to the world’s society in history. ——†”———————————- [ 1 ]. Einstein: A Biography. Jurgen Neffe. (New York: Farrar, Straus and Giroux, 2007), 22 [ 2 ]. Einstein: A Biography. Jurgen Neffe. (New York: Farrar, Straus and Giroux, 2007), 87 [ 3 ]. Einstein: A Biography. Jurgen Neffe. (New York: Farrar, Straus and Giroux, 2007), 22 [ 4 ]. Einstein: A Biography. Jurgen Neffe. (New York: Farrar, Straus and Giroux, 2007), 151 [ 5 ]. Albert Einstein: A Leader in Science. Glen F. (Gather. com 2008)

Finance 340 - 2057 Words

FINC 340 Financial Management Homework Assignment I You can provide your answers by expanding the space between questions. You must show your work and/or explain your answers sufficiently to get credit. Points for each question are the same. Chapter 01 1. What is the goal of the firm? Explain. Ans: A firm’s goals usually include (1) stockholder wealth maximization, (2) profit maximization, (3) Managerial reward maximization, (4) behavioral goals, and (5) social responsibility. However, the primary goal of the business is to maximize the wealth of its stockholders, which translates into maximizing the price of the firm‘s common stock. The traditional goal frequently stressed by economists--profit maximization--is not†¦show more content†¦Smith Company Balance Sheet (in millions of USD) December 31, 2XX1 And 2XX2 Assets | 2XX2 | 2XX1 | Liabilities and Equity | 2XX2 | 2XX1 | Current Assets | | | Current Liabilities | | | Cash | $270 | $305 | Accounts Payable | $200 | $150 | Accounts Receivables | 290 | 275 | Income Tax Payable | 0 | 0 | Inventories | 630 | 600 | Accrued Wages and Salaries | 0 | 0 | Other Current Assets | 0 | 0 | Notes Payable (interest bearing) | 0 | 125 | Total Current Assets | $1,190 | $1,180 | Total Current Liabilities* | $200 | $275 | Fixed Assets | | | Long–Term Debt | 500 | 500 | Plant and Equipment | $1,990 | $1,700 | Total Liabilities | $700 | $775 | Accumulated Depreciation | -700 | -500 | Common Stock | $1,080 | $940 | Patents | 0 | 0 | Retained Earnings | 700 | 665 | Total Net Fixed Assets | $1,290 | $1,200 | Total Stockholder’s Equity | $1,780 | $1,605 | Total Assets | $2,480 | $2,380 | Total L. Equity | $2,480 | $2,380 | Smith Company Income Statement (in millions of USD) December 31, 2XX2 | | | Sales | | $1,330 | Cost of Goods Sold | | 760 | Gross Profit on Sales | | 570 | Operating Expenses | | | Marketing Expenses | $15 | | General and Administrative | 15 | | Depreciation | 200 | | Total Operating Expenses | $230 | $230 | Earnings Before Interest and Taxes (EBIT) or OperatingShow MoreRelatedfinance 340 exam study guide2722 Words   |  11 PagesMidterm Practice Problems Chapter One: CR 1.2, 1.6, 1.13 2. Disadvantages: unlimited liability, limited life, difficulty in transferring ownership, hard to raise capital funds. Some advantages: simpler, less regulation, the owners are also the managers, sometimes personal tax rates are better than corporate tax rates. 6. In the corporate form of ownership, the shareholders are the owners of the firm. 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