The Relationship Between Inflation And Unemployment On Growth

INTRODUCTION 1.1 Background of the Study Three ultimate macroeconomic goals which every government strives to achieve in order to ensure sound macroeconomic policy are maintenance of relative stability in domestic prices, attainment of a high rate of employment or full employment and achievement of a high rapid and sustainable economic growth. The relationship between inflation and unemployment on growth remains a controversial one in both theory and empirical findings. Originating from the Latin American context in the 1950s, the issue has generated an enduring debate between structuralists and monetarists. The structuralists believe that inflation is essential for economic growth, whereas the monetarists see inflation as detrimental to economic progress. There are two aspects to this debate: (a) The nature of the relationship if one exists and (b) The direction of causality. Friedman (1973) succinctly summarized the inconclusive nature of the relationship between inflation and unemployment on economic growth as follows: ―historically, all possible combinations have occurred: inflation and unemployment with and without development, no inflation and unemployment with and without development. The main problems facing the economy of Iraq today are unemployment and inflation. These problems are persistently complex and cause economic and social dilemma to the economy as a whole. The inability of government to provide a lasting solution to these twin challenges has contributedShow MoreRelatedEconomic Growth Between Emerging And Developed Economics Essay1181 Words   |  5 PagesNowadays, the various economic growth patterns are very common in both emerging and developed economy. The countries that are having most advanced economy and highly developed capital markets with high levels of liquidity is called developed country. 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In this essay, the controversial topic will be discussed by viewing different economists’ opinions on that according to time sequencing. Inflation is an increase in price levels within an economy. Basically it means that you will have to pay more for the same goods. Unemployment is even more straightforward. It means that

The Death Penalty The History - 1297 Words

The Death Penalty: The History Death is said to be the worst punishment one can obtain. The law has been made in a way that the ultimate worst punishment one can receive is the death penalty. The action of killing others in the name of the law has been around since before 1000 BC and is still around to this day. There was a time when any crime committed would result in your death, whether you stole 4 pence or you murdered your neighbour. As time went on, the laws have become more just, allowing only those who has committed a terrible crime to be put to death or even abolishing the death penalty altogether depending on the location. Historically the abolishment or diminishment of the death penalty proved to be much more successful. In the†¦show more content†¦Another large set of laws that was used and has now influenced law in our day is The Draconian Law written in 7th century Greece. This set of laws made almost every crime punishable by death. According to Kenny Sarisky from California State University , in 11th century England they didn t have any sort of containment facilities so they would use death as a way to solve all crimes. They would hold trials but they weren’t just in any way. They would make the convicted criminals perform tasks such as hold a burning hot lead rod then bandage their wounds, if three days later their wounds were infected then they would be killed. Petty criminals were sentenced to death as well, one record was of a man who stole 4 pence in 1278 who was killed. Depending on what crime they committed or what class in society they were, criminals would suffer different deaths. For the lower class they would get hung because it was considered the most demeaning (Sarisky). Most women would be burned at the stake for their crimes although only 10% of criminal cases in Europe were women (McGlynn). The main crime committed by woman was infanticide which was the act of killing your own child. Often they would kill their daughters because families prefere d having sons. Dead bodies or severed body parts of the criminals who received the death penalty would sometimes become toys for the children who would kick them around or beatShow MoreRelatedHistory of the Death Penalty1652 Words   |  7 PagesForms of the Death Penalty Ancient China - First established death penalty laws 18th century BCE - Code of king Hammurabi of Babylon - Earliest form of unified system of justice. Death penalty for 25 crimes, including an â€Å"eye for an Eye† 16th century BCE - Egypt - first historically recorded death sentence (a man was accused of using magic) 14th century BCE - Hittite code - also prescribed the death penalty 621 BCE - Draconian code of Athens - ‘the death penalty appliedRead MoreHistory of the Death Penalty517 Words   |  2 Pages Beheading? Firing Squad? Hanging? Falling from a height? All forms of the death penalty. 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Documented cases at different points of history are referenced to show the relationship of time periods and beliefs to the implementationRead MoreHistory of Death Penalty in Texas2397 Words   |  10 PagesHistory of the Death Penalty in Texas During the historical era in the state of Texas, the use of the death penalty was common and frequent; before 1923 districts carried out executions themselves, in the form of hanging. However in 1923 the state of Texas prepared every execution to be carried out by the state in Huntsville using the electric chair as the method of execution. The state of Texas put to death their first prisoner by electrocution on February 8, 1924 and there were four more executionsRead MoreHistory and Laws of Death Penalty2834 Words   |  11 PagesDeath penalty is the execution of an offender who is sentenced to death after being convicted for committing a heinous crime. Death penalty differs from extrajudicial penalty in the sense that for a person to be penalised to death he or she must be convicted by law, whereas extrajudicial penalty is carried out without the permission of the court. Death penalty and capital punishment are often used interchangeably but there is a marked difference between the two. Death penalty becomes capital punishmentRead MoreThe History of the Death Penalty Essay2059 Words   |  9 PagesThroughout the history of man there has always existed a sort of rule pertaining to retribution for just and unjust acts. For the just came rewards, and for the unjust came punishments. This has been a law as old as time. One philosophy about the treatment of the unjust is most controversial in modern time and throughout our history; which is is the ethical decision of a death penalty. This controversial issue of punishment by death has been going on for centuries. It dates back to as early as 399Read MoreDeath Penalties Throughout History1443 Words   |  6 Pagesput the perpetrator to death. Ancient civilizations to modern day people have implemented the death penalty to ensure the well-being, and sometimes discipline, of societies around the globe. The first official legal use of the death penalty dates back to the eighteenth century B.C. in the Code of King Hammurabi of Babylon. Here the King noted 25 crimes to be punishable by death. In seventh century B.C. Greece, the Draconian Code of Athens established death as the only penalty to be dealt for all crimesRead MoreDeath Penalty Changes throughout History605 Words   |  2 Pagesand left 31 wounded, for which he was sentenced to death. The capital punishment system allows for such atrocious criminals to be fairly punished and kept off the streets thus giving families of the victims much needed closure .Capital punishment is the lawful infliction of death as punishment for a crime. The death penalty has been around since the existence of man if you killed someone you would be killed. Capital punishments were also the penalty for many crimes in the British colonies before theRead MoreHistory of the Death Penalty and Why It Is Not Wrong Essay3300 Words   |  14 Pagesâ€Å"I personally have always voted for the death penalty because I believe that people who go out prepared to take the lives of other people forfeit their own right to live. 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Competitive Strategy Multinationals and Corporate Social

Question: Discuss about the Competitive Strategy for Multinationals and Corporate Social. Answer: Introduction: Effective strategy plays an undeniably important role in the organizational success of a company. However, while most people confuse the term goal with strategy, it is important to understand the meaning of strategy. Strategy is not merely the goal or the vision of an organization, but rather it implies the effective steps formulated and executed by the organization for the accomplishment of the goals (Slack 2015). The strategy of an organization is critical to its success, and while framing a strategy, an organization will need to ensure that it has sufficient knowledge about who it is competing with, and what unique and innovative product it has to offer. In addition, it must also understand the ways of utilizing the existent resources, so that the organization can be sustained in future(What is Strategy? 2016). KFC has managed to emerge as one of the most recognized organizations in the fast food industry of the world. The key to this success has been its adoption as well as application of the most efficient strategy. The goal of KFC has been to offer superior quality, fresh yet tasty fast food to the consumers, and to materialize this goal, the organization has discreetly selected its strategy. The organization has always been aware of the growing popularity of McDonalds which was established just 10 years after KFC, and hence the management authority of KFC has introduced a variety of innovation in the products offered. As opposed to a limited number of tasty and healthy food items offered by McDonalds, KFC offers a variety of tasty, spicy food products, starting with burgers and Crispy Chicken, it offers Krushers and dainty desserts as well. By allowing this much variety in the products offered, KFC has succeeded in enjoying competitive advantage over the rival organizations, like McDona lds. Further, through the introduction of innovative food items, like Chizza and Popcorn Chicken, KFC has managed to carve out a distinct position for itself in the fast food industry of the world. KFC also enjoys a larger market, as the products offered intends to cater to the needs of a 6 year boy to a 65 year old man. In order to sustain itself in future amidst a tough competition from rival fast food selling organizations, KFC has been adopting a policy of market segmentation. Accordingly the organization is targeting at drawing the attention of consumers from various parts as well as sections of the society. An effective strategy in a competitive market, is only possible when an organization is aware of the position of its competitors and manages to adopt the best strategy accordingly. The chief competitor of KFC has been McDonalds, the target market of which has been the kids. Hence, KFC has strategically introduced products such as Chicken bucker for the youths, Chizza and Krushers for the kids, as well as the rice bowls and salads for the elderly consumers. Again, though KFC primarily served the upper class consumers, presently it has been offering tempting offers and discounts on specific days of the week, so that every class of people can take delight in tasting their service. Consequently, the adoption of an effective strategy has contributed to the creation of a unique position of KFC in the international market of fast food industry (Verbeke 2013). Pankaj Ghemawat: CAGE Framework to Evaluate International Trade Opportunity In the world of globalization, no big organization remains anymore confined to its own region. Rather it extends beyond the confines of a local market, expanding to other spheres of the world. Globalization is adopted as a marketing strategy, as it assists an organization gain greater international recognition, and diversify its market by offering service to a wider mass of people (Collis 2015). However, globalization in itself is not an easy step, as it highlights the necessity for the authority of an organization to comprehend the cultural, administrative, geographic and economic differences that lie between two nations. Thus, the CAGE framework has been suggested by Pankaj Ghemawat which shows the important factors that an organization needs to consider before it dreams of achieving global expansion(Pankaj Ghemawat: CAGE Framework to Evaluate International Trade Opportunity 2016). Two countries are not only physically apart from each other, but each has a set of sharp cultural distinctions from each other. The greater the distance, the harder it is for an organization to establish itself in a foreign country. The Spice Room is an Indian restaurant chain that has expanded its business in Australia. The restaurant offers a variety of tasty, spicy Indian dishes, however it has not gained much popularity among the consumers. This is because of the sharp distinction that lies between the choice of food of the Australians and the Indian citizens. The restaurant could have done great business, had it expanded to Asian countries, such as China or Pakistan, which have an identical cultural preference (Ghemawat 2013). Again, although in terms of the administrative factors, Australian government is less likely to interfere in the business operation of The Spice Room, the Competition Laws, Consumer Laws, and Environmental Legislation create a lot of complications for a sm all scale restaurant like The Spice Room (Hill et al. 2013). Geographically speaking, The Spice sky is located in Australia which is too far from India, and hence due to remoteness in terms of distance, the employees could not be taken to Australia. However, the Australian workforce is not very professionally skilled to serve the needs. Again, climate also plays an important role, and usually the people living in hot and humid zones of the world are likely to consume spicy food (Kotkin, 2015). However, Australia being a pleasantly cool country is not the right place to serve the spicy dishes of India. Economically speaking, although there are a large number of workers in Australia, the labor force is not very skilled and professionally groomed to serve the needs of the organization (Campbell, Eden and Miller, 2011) . Besides, Australia does not have a rich industry of herbs and spices, and hence The Spice Room, needs to incur a good amount of expense for importing spices from India, which in turn increases the cost of production of the restaurant (Gilpin 2016). Hence, any organization needs to carefully consider the CAGE framework before thinking of global expansion. Reference List: Campbell, J., Eden, L. and Miller, S. 2011. Multinationals and corporate social responsibility in host countries: Does distance matter?.Journal of International Business Studies, 43(1), pp.84-106. Collis, D.J., 2015. The Value of Breadth and the Importance of Differences. InEmerging Economies and Multinational Enterprises(pp. 29-33). Emerald Group Publishing Limited. Ghemawat, P., 2013.Redefining global strategy: Crossing borders in a world where differences still matter. Harvard Business Press. Gilpin, R., 2016.The political economy of international relations. Princeton University Press. Hill, C.W., Cronk, T. and Wickramasekera, R., 2013.Global business today. McGraw-Hill Education (Australia). Kotkin, S. 2015.Redefining Global Strategy - Pankaj Ghemawat. [online] Nytimes.com. Available at: https://www.nytimes.com/2007/12/02/business/02shelf.html?_r=0 [Accessed 16 Aug. 2016]. Pankaj Ghemawat: CAGE Framework to Evaluate International Trade Opportunity. (2016). [Video] https://www.youtube.com/watch?v=7FpUJaG7uMk: Carlson School of Management. Slack, N., 2015.Operations strategy. John Wiley Sons, Ltd. Verbeke, A., 2013.International business strategy. Cambridge University Press. What is Strategy? 2016. [video] https://www.youtube.com/watch?v=TD7WSLeQtVw: David Kryscynski.