Development Theories after Second World War

Development Theories after Second World War Introduction Economic growth is a narrow concept that involves an increase in the nation’s output observed using the increment in resources. On the contrary, economic development encompasses the normative aspect of growth. This aspect involves the measurement of people’s morality.Advertising We will write a custom essay sample on Development Theories after Second World War specifically for you for only $16.05 $11/page Learn More According to Todaro and Smith, economic development is the increase that a given society realizes in terms of living standards, self-esteem and freedom from oppression (67). In order to measure development, economists have come up with the human development index that captures all sectors of the society. Unlike the economic growth, development takes into consideration the informal sectors of the economy. Many people have tried to explain the level of economic development that a country or society can undergo. Different people including Keynes put original theories of development forward and they were applied in the economic growth and development up to World War II. The theories originated from the classical school of thought. In their argument, they postulated that economic development occurs due to investments in capital and labor. Capital can be used to generate resources used in economic development. Stages of Growth Model of Rostow Immediately after the Second World War, the world was filled with cold war experienced n the 1950s and 1960s. In the course of this period, Rostow’s stage of growth model was uncovered. The model that was put forward by the American economic historian Walt Rostow postulated that the transition that an economy undergoes from underdevelopment to development occurs in phases. The phases of development as described by Rostow range from the traditional society, pre-condition to take off, take off, the drive to maturity and the probably the phase of high mass cons umption. This theory further argues that countries perceived and ranked as developed have undergone all stages successfully to their current phase in which they consume products massively (Potter 86). Harrod-Domar Model This theory postulates that capital goods wear out in the course of their use and have to be replaced savings. The summarized from of the model indicates that the rate at which an economy grows is determined by two factors that are the rate of savings in the economy and the capital-output ratio of a country.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The main findings of this model are that in order for an economy to grow and attain the level of development, the country must invest in its physical capital using funds from savings. Consequently, the rate of growth and development could be measured by the level of savings and investment in physical capital in th e country. Despite the contributions of this theory to understanding development, it has been criticized that increased savings and investment in capital for development are necessary conditions for development, but not sufficient reasons. Based on this criticism, other theories have been developed (Eicher 51). The Lewis Theory This theory was first put forward in the mid 1950s but was later modified to become the Two-Sector model. The theory divides the economy into two sectors that are the subsistence rural sector and the urban sector. The rural sector is characterized by high supply of labor while the urban sector is characterized by surplus of capital. Productivity occurs through the interaction of capital and labor, hence the production function. The theory postulates that a country can realize development through increased investment in physical capital found in urban areas while the surplus labor is transferred from the rural sector to work in the urban sectors. In spite of i ts contributions, the theory assumes zero marginal productivity in the agricultural sector with the acquired revenue being re-invested in the urban sector, which is not proved by empirical evidence (Allen and Thomas 121). The Solow Growth Model There is a close link between economic growth and development as sustainable economic growth results into economic development. Despite the contribution that the classical and traditional theories of development contributed to the discipline, modern theories put forward some interesting revelations. One of the modern theories of development is the Solow Growth model. This theory has included changes in technology into the model of growth and development. Therefore, it postulates that development is a factor of capital, labor and technological advances (North 210).Advertising We will write a custom essay sample on Development Theories after Second World War specifically for you for only $16.05 $11/page Learn More Acco rding to Potter, the Solow model incorporates the importance of knowledge and technology into the model of development (109). Therefore, the production function assumes constant returns to scale. It can be deduced from the model that long-term growth of an economy requires application of knowledge and technology and not only labor and capital. From this survey, it is evident that the theories of development have changed over time beginning from the Second World War. While earlier theories only considered capital and labor, neo-classical development theories factored in technology in the achievement of economic growth and development. In addition, earlier theories insisted in investment in physical capital using savings as major factors for development. However, later theories have emphasized the importance of investing in knowledge and technology apart from capital as necessary and sufficient development conditions. Allen, Tim and Thomas, Allan. Poverty and Development into the 21s t century. Oxford: Oxford University Press. 2000. Print. Eicher, Staatz. International Agricultural Development. 3rd edn. Baltimore: The Johns Hopkins University Press. 1998. Print. North, Douglas. Structure and Change in Economic History. London: W.W Norton Company. 1981. Print.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Potter, Robert, et al. Geographies of Development, An introduction to Developments Stuides. 3rd ed. Harlow: Pearson, Prentice Hall. 2008. Print. Todaro, Michael and Smith, Stephen. Economic Development. 10th edn. Addison-Wesley. 2009. Print.

Brave New World Book Review

'Brave New World' Book Review In Brave New World, Aldous Huxley constructs a futuristic society based on pleasure without moral repercussions, and within it places a few oddball characters to stir up the plot. With eugenics at its core, this novel hearkens back to Shakespeares The Tempest, where Miranda says, O brave new world, that hath such people in it. Background on Brave New World   Aldous Huxley published Brave New World in 1932. He was already established as a drama critic and novelist of such books as Crome Yellow (1921), Point Counter Point (1928), and Do What You Will (1929). He also was well-known to many of the other great writers of his day, including the members of the Bloomsbury Group (Virginia Woolf, E.M. Forster, etc.) and D.H. Lawrence.Even though Brave New World is now considered a classic, the book was criticized for a weak plot and characterization when it was first published. One review even said, Nothing can bring it alive. Along with the poor and mediocre reviews, Huxleys book has also become one of the most frequently banned books in literary history. Book banners have cited negative activities (undoubtedly referring to the sex and drugs) in the book as reason enough to prevent students from reading the book. What World Is This? This Utopian/dystopian future offers the drug soma and other carnal pleasures, while manipulating the people into mind-numbing dependence. Huxley explores the evils of a seemingly satisfied and successful society, because that stability is only derived from the loss of freedom and personal responsibility. None of the people challenge the caste system, believing they all work together for the common good. The god of this society is Ford, if the dehumanization and loss of individuality wasnt enough. A Controversial Novel Part of what has made this book so controversial is the very thing that has made it so successful. We want to believe that technology has the power to save us, but Huxley shows the dangers as well.John claims the right to be unhappy. Mustapha says its also the right to grow old and ugly and impotent; the right to have syphilis and cancer; the right to have too little to eat; the right to be lousy; the right to live in constant apprehension of what might happen tomorrow... By getting rid of all of the most unpleasant things, the society also rid itself of many of the true pleasures in life. Theres no real passion. Remembering Shakespeare, Savage/John says: You got rid of them. Yes, thats just like you. Getting rid of everything unpleasant instead of learning to put up with it. Whether tis better in the mind to suffer the slings and arrows of outrageous fortune, or to take arms against a sea of troubles and by opposing end them... But you dont do either. Savage/John thinks of his mother, Linda, and he says: What you need... is something with tears for a change. Nothing costs enough here.

ARGUMENT #1 MINIMUM WAGE JOBS ARE STEPPING STONES Essay

ARGUMENT #1 MINIMUM WAGE JOBS ARE STEPPING STONES - Essay Example In addition, a record of coherent result, which clarifies when it can be said (and what it intends to say) that some case or disposition is a consistent outcome of an alternative. typology of contention which gives a structure of contention and examination by identifying the fundamental sorts of argument that need to be recognized deductive is monistic, henceforth one of the least complex typologies; others will recognize in a general sense various types of arguments. An account of a proper argument that points out general criteria for deductive, inductive, and conductive contentions;. The meanings of constructive contention outline which characterize great examples of thinking (sensible engages power, sensible assaults against the individual; and so forth.) and some hypothetical record of false notions and the part they can (and cannot) play in understanding and evaluating casual contentions. A record of the part that group of onlookers (emotion) and ethos and other logical thoughts ought to play in examining and evaluating contention and lastly that a clarification of the rationalistic commitments that join to arguments specifically sorts of settings. The difference of contention and persuasion has some recorded essentialist insofar as it is the premise of the refinement in the middle of rationale and talk as they are generally comprehended — rationale picking contention as its center, talk picking influence. This being said, the qualification in the middle of influence and contention remains a slippery one when one considers the contentions one finds in casual talk. Absolutely it must be said that engages feeling and character assume a huge part in standard contentions that happen in social, moral and political settings. In a contention about atomic strategy, for instance, it would be manufactured to uproot the feeling inborn in a depiction of the results of atomic war say, the the effects of

Should the primary objective of management be to increase the wealth Essay - 1

Should the primary objective of management be to increase the wealth of shareholders and owners - Essay Example The objective of management is characterized by four concepts namely goal, scope, definiteness and direction. Managers view objectives as the business values that should be achieved. Therefore, the scope of these values must be well defined, in addition to inclusion of extra goals. Management objectives can be classified as primary, secondary, personal or social. The following paper is a critical debate on the question: Should the primary objective of management be to increase the wealth of shareholders and owners? Focus will be laid on the general objectives of management and the way in which they should be prioritized for maximum benefits. Customer Satisfaction Customer satisfaction is a principle performance estimate in business management (Decker and Learning, 2001). The primary objective of any business management should be focused upon customer satisfaction. This will provide the avenues required for profits that generate wealth of shareholders and owners. The management’s primary objectives should be related to customer satisfaction through the provision of saleable goods and services in the market. These goods should be reliable, have standard quality, competitive, reasonably priced, technologically produced and insufficient in quantity. The secondary objectives are those strategies that assist in achievement of primary objectives. Personal objectives purposes to benefit individuals in a business organization e.g. increasing the wealth of owners and shareholders. Social objectives maximizes the social gain of the community from an organization e.g. the social responsibilities of the organization to the community. Customer satisfaction includes interaction with customers in an ethical environment. Most traditional business strategists view maximization of the shareholder and owner wealth as the fiduciary obligation of business managers (Shaw, 2009: 572). This view is related to the fact that most shareholders invest in the company on the understanding that the management will steer the company on the strategy of generating profits for them. The view was also presented in an era where most capitalist were obligated to manage their own business enterprises. The recent emergence of joint stock companies meant that the managerial control of corporations has technically been divorced from ownership. However, business theorists have failed to establish a mechanism that can harmonize the interests of managers and shareholders to prevent the former from enriching themselves at the expense of the latter. This is has been proven by the recent behavioural trends whereby the managers awards themselves lux urious pay and remuneration packages without any benefits to the shareholders. Managing Efficiency Efficiency is the guiding principle for any successful business. There is no business that has ever risen to top of the industry through slow, outdated and clunky management practices. In the current business environment, the management that only focuses on compliance to stockholder expectations while ignoring inefficiency does not succeed (Morris, Schindehutte and Allen, 2005: 726-735). The imperative issues that should be recognized include cost

India’s Trade in 2020 Essay Example for Free

India’s Trade in 2020 Essay Introduction Indias trade has generally grown at a faster rate compared to the growth of GDP over the past two decades. With the liberalization since 1991 in particular, the importance of international trade in India’s economy has grown considerably. As a result the ratio of international trade to GDP has gone up from 14 per cent in 1980 to nearly 20 per cent towards the end of the decade of 1990s. Given the trends of globalization and liberalization, the openness of Indian economy is expected to grow further in the coming two decades. The more exact magnitude of Indias trade in 2020 and its proportion to Indias national income would be determined by a variety of factors. Many of these factors are in the nature of external shocks and are beyond the control of national policy making. One illustration is the recent surge in the crude oil prices in the international market to unprecedented levels that have impacted the country’s imports in a significant manner. In addition, the implementation of various WTO agreements are likely to affect the Indias trade. Indias trade is also likely to be affected by various bilateral/ regional preferential trade arrangements that have been concluded and those that might take shape in the coming years. This paper attempts to provide a mapping of different factors that are likely to shape the patterns and magnitudes of Indias imports and exports over the coming two decades. These factors are classified into three, namely: 1) factors affecting the demand for Indias exports of goods and services; 2) factors affecting the supply of Indias exports of goods and services; and 3) factors affecting the demand for Indias imports. The supply of imports may be assumed to be elastic and hence is not discussed. The structure of the paper is as follows. Section 1 maps out various factors affecting demand for India’s exports, Section 2, factors affecting supply of India’s exports. Section 3 lists the factors that are likely to affect demand for India’s imports. Section 4 briefly summarizes emerging patterns of India’s comparative advantage in exports of good and services. Section 5 makes some concluding remarks. 1.Factors Affecting the Demand for Exports There is a multitude of factors that are likely to affect the demand for Indias exports of goods and services as seen below. 3 Growth Performance of World Economy and Key Trading Regions The growth rates of the world economy and world trade do influence the overall demand for Indias exports. For instance, the rates of stagnation in the growth rate of world trade in the period since 1996 have affected the growth of Indias exports. Some broad correspondence between the growth rates of world trade and Indian exports is evident from Figure 1. Depending upon the intensities of Indias trade relations the growth prospects in these specific regions may also affect the demand for Indias exports. The regions which may be particularly important for Indias exports include North America, the European Union, Middle East, East and Southeast Asia and South Asia. Therefore, it will be important to watch the growth outlook and projections for these regions. Figure 1: Growth Rates of World Trade and Indias Exports Over the 1990s Source: RIS on the basis of WEO Database of the IMF 1.1.1. World Output and Trade at the Turn of the Century and the Outlook The world economy in 2000 seems to have fully recovered from the slow down of 1998-1999 on account of the East Asian crisis. The estimated world output growth of 4.8 percent in 2000 is highest since 1988 and of world trade at 12.4 percent is highest of the past 25 years (Table 1, Figure 1). The impressive recovery of the world economy and world trade in the early part of 2000 generated optimism all around as countries expected to benefit from favourable spillovers in the form of rise in demand for their exports. However, the optimism has proved to be short lived. It has been partly tarnished somewhat by the crude oil prices hitting the roof in the third quarter of 2000 and adversely affecting the outlook of many regions besides raising the threats of inflation in different parts of the world. Furthermore and more importantly, the emerging trends confirm that a trend of slow down was set in the US economy in the third quarter of the 2000. Hence, fears of a hard landing of the US economy in 2001 have continued to grow. A scenario of hard landing of the US economy in 2001 is thus likely to short-circuit the rebound of the world economy of 1999-2000, even though the major European Union economies are improving their performance. The Japanese economy continues to remain sluggish. The slow down of the US economy has a compounded effect on the growth of the world economy by adversely affecting the demand for the products of partner countries as well. As a result the growth rate of world output is likely to slow down in 2001 from the levels reached in 2000 to 3.2. The world economy is expected to pick up moderately to 3.9 per cent in 2002. The effect of the impending slow down is more severe on the growth rate of world trade which is likely to reduce by nearly half from the rate achieved in 2000 to around 6.5 per cent in 2001 and 2001. In the light of recent trends, the outlook for the world economy and trade growth over the next ten years could be taken at 3 and 6 per cent respectively. *Indonesia, South Korea, Malaysia, the Philippines, and Thailand. #ASEAN-4. Source: RIS based on World Bank (2001), IMF (2001). 1. WTO Agreements Since the implementation of the Final Act of the Uruguay Round in 1995, the WTO Agreements have become important factors in determining the patterns of world trade. Their full impact is not yet obvious as many provisions of these agreements are yet to be implemented because of the transition period provided. Most of the remaining provisions of the WTO agreements would be implemented in the coming five years. Therefore, the patterns of trade in 2020 would have to be speculated keeping in mind the impact of full implementation of the WTO agreements. Some of the agreements which are likely to affect Indias exports are the following. 1. Agreement on Textiles and Clothing The Agreement on Textiles and Clothing (ATC) proposes to phase out the MFA quotas imposed by the developed countries on the imports of textiles and clothing from developing countries over a period of 10 years ending on 31st December 2004. Given the fact that India has substantially fulfilled her quota for the products coming under MFA, it may appear that the phasing out of these quotas would help in the expansion of exports. However, the impact of the phase out is likely to be a mixed bag. This is because with MFA phase out, Indian exporters would be competing directly with other exporters of textiles and garments such as China, Korea, Taiwan, Pakistan, Thailand, Turkey, Mexico, Hong Kong, Indonesia, Macau, Philippines, Sri Lanka, Bangladesh, among others. Therefore, while ATC provides an opportunity to Indian exporters to expand their exports of textiles and garments by removing the quota restrictions, it also poses a challenge of increased international competition. Some of them will enjoy preferential access to the importing countries due to their least developed country (LDC) status such as Bangladesh. There are apprehensions on the full benefits of phase out being available to developing countries. As such the schedule of the phase-out has been back-loaded over a ten-year long phase-out period. The industrialized countries may use other protectionist measures such as anti-dumping to prevent market access after the phase-out of quotas. A large number of textiles and clothing products already face tariffs in the range of 15 to 30 per cent in the Quad countries (World Bank, 2000). Some attempts of restricting them with anti-dumping duties have already been made against these exports including those from India. Another factor that will affect the competitiveness of Indian exports of textiles and garments in the post-MFA regime is the availability of trade preferences to emerging competitors of India. For instance, Mediterranean countries such as Turkey, Cyprus and Malta and Central and Eastern European countries enjoy free trade agreement with the European Union ahead of their full membership. The Caribbean countries enjoy a similar preferential access to the United States market under the Caribbean Basin Initiative (CBI). Mexico enjoys a privileged access to the North American Market as a member of NAFTA. These trade preferences have already resulted into diversion of trade in textiles and clothing to these countries. For instance, Mexican exports of clothing to the United States have grown at the rate of 27 and 15 percent in 1998 and 1999, respectively with the growth rate of exports to Canada in these years being 30 percent and 26 percent, respectively. Similarly, exports of clothing from Bulgaria, Hungary, Poland, Romania, Turkey to the European Union in 1998 have grown at 26 percent, 14 percent, 11 percent, 23 percent and 11 percent, respectively (WTO, 2000). The ability of Indian exporters to take advantage of phase out the MFA quotas by 2004 will depend upon a number of factors such as their ability to enhance overall international competitiveness with productivity and efficiency improvements, quality control, ability to quickly come up with new designs, ability to respond to changes in consumer preferences rapidly and the ability to move up the value chain by building brand names and acquiring channels of distribution to more than outweigh the advantages of her competitors. The reservation of the garment industry for small-scale sector has affected capital investment, modernization and automation in the sector in the country. Although the small sector operation has imparted flexibility, it has prevented exploitation of economies of scale and scope by the Indian industry. The new Textiles Policy takes care of some of the concerns. It remains to be seen if the Indian industry will be able to exploit the opportunities provided by the incr eased market access with the MFA phase-out. 2. Agreement on Agriculture (AoA): The AoA proposes to liberalize the international trade in agriculture by restricting the agricultural subsidies provided by governments to the farmers, reduction in export subsidies in agriculture, removal of QRs and establishment of tariff rate quotas applicable to trade in agricultural commodities. In general India’s obligations under AoA are limited given the low level of agricultural subsidies compared to EU and the US. It is believed that implementation of the AoA commitments by industrialized countries will benefit countries like India in terms of market access for some agricultural commodities. However, the implementation of the commitments on the part of industrialized countries so far does not provide any room for optimism. The extent of subsidies given by industrialized countries have actually increased over the past few years as acknowledged by OECD reports. It is possible that in the coming years the provisions of the Agreement are implemented in the letter and spi rit. The likely effect of the full implementation on India’s trade is difficult to be speculated. However, one can have an idea about the likely scenario from efficiency indicators and incentive structure. Given lower than world prices of rice, wheat, maize, sorghum, chickpea and cotton in India, their exports may expand under the liberalised trade in agriculture. Hence the area under cultivation for these crops may increase since profitability and effective incentives will get tilted in favour of these crops. The same is true for pearl millet, pigeonpea and soyabean. However, production of oilseeds e.g. groundnut, rapeseed, mustard and sunflower, and pulses may be adversely affected in a free-trade scenario given the lower world prices. Thus, the import dependence in edible oils and pulses may increase. 3. Anti-dumping Regulations The Indian exports of a number of commodities have been subjected to anti-dumping regulations by some of our important trading partners such as the United States and the European Union. The onslaught of the anti-dumping measures on Indian exports is likely to increase in future with the growing competitiveness of Indian products. In order to minimize their disruptive effect of these regulations on Indias exports, the industry and government will have to strengthen the machinery to counter such actions (Panchamukhi, 2000). 1.2.4. Tariff Negotiations and New Trade Round Although the average tariff rates in the industrialized countries are low, they have high peak tariffs for certain products, some of which are of export interest to India such as textiles and garments, and agricultural commodities (see Table 3). Market access for these products could be facilitated by our ability to secure reduction in these tariffs in the industrialized countries through future tariff negotiations in the WTO framework. N.B. HS Chapters are given in parentheses. Source: RIS based on UNCTAD/WTO (2000) The Post-Uruguay Round Tariff Environment For Developing Country Exports: Tariff Peaks and Tariff Escalation, UNCTAD, Geneva (TD/B/COM.1/14/Rev.1; 28 January 2000) 1.2.5.Trade Preferences for the Least Developed Countries One emerging development in the WTO system has been the tendency to divide the developing countries with the offer of special trade preferences for the least developed countries. A sizeable proportion of Indias exports still comprise labour and resource intensive goods that are also exported by some of the least developed countries. If successful these preferences have the prospects of diverting trade from India to the least developed countries. The potential of these trade preferences for adversely affecting India’s exports needs to be kept in mind. 2. Chinas Accession to WTO One of the important events of the coming years for the world trade may be the entry of China into the WTO regime. China signed an agreement with the US for its entry into the WTO in November 1999. It has subsequently been negotiating such agreements with other WTO members. The accession of China to the WTO and hence the MFN status that it will receive from other WTO countries may have some implications for the competitiveness of Indias exports. This is because India and China compete in the international market for a number of labour intensive and matured technology goods such as textiles and garments, leather goods, light engineering products, chemicals and pharmaceuticals, among others. China has already been giving tough competition to Indian exports in many commodities and markets. There is a view that the accession to WTO may further strengthen China’s competitiveness and hence may affect the Indian exports adversely. There is another view that the accession of China to WTO would force it to follow WTO norms and procedures, etc. and will bring their trade policy under international surveillance. State subsidies will be regulated and hence it will make it more difficult for the Chinese exporters to dump their products in the world market. The exact impact of the accession of China to the WTO on the Indias export prospects will depend upon these counteracting effects. It is important to analyze the effects of Chinese accession to WTO on the competitiveness of Indian exports. 1.4. Preferential Trade Arrangements/Free Trade Arrangements in Rest of the World The last decade and a half has seen the proliferation of regional trading arrangements in different parts of the world. The major trading blocks that have emerged over the years include the European Union, NAFTA, Mercosur, AFTA, COMESA, among others. Besides, these free trade and common market agreements, a number of other countries have become integrated with the trading blocks through a variety of preferential or free trade arrangements. For instance, European Union has extended free trade agreement treatment to a number of Central Eastern European Union and Mediterranean countries in anticipation of full membership to these countries in the EU. These arrangements could also act to divert trade away from India especially in the labour intensive goods, as indicated earlier in the case of textiles and clothing. 1.5.Regional/Bilateral Free Trade Arrangements India has taken several steps to liberalize trade with her trading partners in the South Asia region on regional as well as bilateral basis. These steps include participation to SAARC Preferential Trading Arrangements (SAPTA) that came into being in December 1995. Under this Agreement, India has exchanged trade concessions with the SAARC member countries for nearly 3000 commodities in the first three rounds of negotiations. The fourth round of these negotiations is in the process. It is expected that the process of trade liberalization in the framework of SAARC will culminate into a South Asia Free Trade Agreement (SAFTA), although, it may take some time to take shape given the current impasse in the SAARC process. Besides SAPTA, India has recently signed a bilateral free trade agreement with Sri Lanka. India already has bilateral free trade agreement with Nepal and Bhutan. A bilateral free trade agreement is being contemplated with Bangladesh as well. There are other attempts of regional/sub-regional economic integration which may also come into being in the coming decade, for instance, BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation) which has been formed recently may adopt a preferential trading arrangement between the member countries. Although India is also a founder member of the Indian Ocean Rim Association for Regional Cooperation (IOR-ARC), a preferential trading arrangement is not contemplated as the Association has adopted the concept of open regionalism on the lines of APEC. All these attempts at free trade with the regional partners may open the markets for Indian goods further in the countries concerned. It is evident that the share of South Asian countries in Indias exports has increased from 2.73 to 4.9 over the period 1990 to 1999. The recent initiatives in regional/ bilateral trade liberalization may help to divert some trade of the countries concerned from their other trading partners in favour of India given the supply capabilities. 2. Factors Affecting the Supply of Exports It is widely believed that the major factors constraining India’s exports lie not in the lack of demand but more in the supply side constraints. Most of the supply side factors need to be addressed as a part of the policy towards trade. Some of the factors that constrain the volume and composition of Indias exports are as follows: 1. Infrastructural Bottlenecks It is widely accepted that Indias export potential remains considerably unfulfilled because of infrastructure bottlenecks such as power shortages, port handling facilities, delays in transportation which in turn are due to poor transport links within the country and poor communication facilities. The inability of Indian exporters in meeting supply schedules costs dearly in terms of image of India as a reliable source of supply. Not only that the availability of the infrastructure services is inadequate but the efficiency and quality of the delivery of what is available is highly uneven. The ability of the government in removing these constraints in the coming years will also determine the supply side of Indian exports. 2. Growth of Domestic Demand A rapid growth of domestic demand may also affect Indias ability to export at least in certain products, for instance, in tea where the rapid growth of domestic demand is expected to reduce the export surplus in the coming years. It may also apply to a number of other agricultural commodities such as rice, cotton, among others. 2.3 Inflows of Export-oriented Foreign Direct Investment Multinational enterprises (MNEs) have played an important role in the rapid growth of manufactured exports from the East and South-East Asian countries. This is because the South East and East Asian countries were able to attract export platform investments from US and Japanese MNEs in the 1970s and 1980s. The export platform or export-oriented investment arises in the process of relocation of production by MNEs abroad in order to maintain their international competitiveness in the face of rising wages and other costs in their home countries. In Malaysia and Indonesia, for instance, 70 percent of the projects involving FDI have been export-oriented. In China, the share of foreign owned firms in exports has risen from 5 percent in 1988 to 40 percent by 1997. In contrast, the share of foreign affiliates in Indias exports is marginal at 5 to 7 percent (Kumar and Siddharthan, 1997, for a review of evidence from different countries). Therefore, India has not been able to exploit the potential of MNEs for export-oriented production. MNEs can play an important role in promotion of Indias manufacture exports with relocation of export platform production in the country with their access to global marketing networks, best practice technology and organizational know-how. To some extent, therefore, Indias ability to attract export-oriented FDI will determine the magnitude of Indias exports in 2020. The studies have shown that export-oriented FDI inflows are of special type and are determined by different factors than other types of FDI (Kumar, 1994). The studies also find differences in the nature and determinants of export platform investments that are geared to MNEs home markets and those targeting the third countries (Kumar, 1998). India may make an effort to target the export platform investments of both types by sharpening her bundle of resource endowments and created assets in the light of determinants identified by these studies. 5. Technological Upgrading and Movement along with the Value Chain The Indian export structure has been highly dominated by simple and un-differentiated products where the main competitive advantage lies in cheap labour, low levels of skills and simple technologies compared to that of China and South East Asian countries except for recent growth of pharmaceuticals and software services (Lall, 1999). Not only these products are slow moving, the export structure is highly vulnerable to competition. Indias competitiveness has also been adversely affected by the failure to diversify the commodity composition of our exports. In fact the commodity concentration of Indias exports has increased with a 9 percent rise in the share of top six groups of exports in total and exports between 1987-1988 to 1998-99 (Kumar, 2000a). In comparison to India, Southeast and East Asian countries have rapidly diversified their export structure in favour of technologically advanced goods. For instance, share of technologically advanced goods (differentiated and science based goods) in India’s manufactured exports rose marginally to about 8 per cent by the mid-1990s over 5.6 per cent in the mid-1970s; in China, this proportion increased from 8.8 per cent to 23 per cent over the 1987-95 period, and for Malaysia from 12 per cent to 57 per cent over the 1980 to 1995 (Pigato et al. 1997). The markets for low technology undifferentiated goods are highly price competitive and margins are kept under pressure by constant competition by entry of new low wage countries.

The Value of Roots :: Poem Poetry Poetic Poems Essays

The Value of Roots The era of the American Revolution was a time of great nationalism, hope, and unity. People who were once only colonists were now citizens of a new and exciting nation. As the years wore on, however, the citizens of the United States were faced with the reality of building a country. The nation strove to find a place for itself, to become secure against the power of the rest of the world. Industry grew along with the population, but what the new country gained in strength it lost in spirit. Regional tensions emerged as well as burning political issues. In the aftermath of the civil war the still young nation attempted to regain this nationalism that was once the strength of the country. One area this attempt was prominent in was literature. Two poets specifically sought to find a national mythology by examining what American's value and why it is necessary to pass it on through tradition. The poems by John Greenleaf Whittier and Henry Wadsworth Longfellow are a call for preserving th e roots found in the land of America and in the heart of an American. Longfellow's "Hiawatha" presents the image of an Indian chant about the traditions, history and beauty inherent in nature. The narrator explains how the birds, trees, mountains and rivers all hold stories of the past. Should you ask where Nawadaha Found these songs so wild and wayward, Found these legends and traditions, I should answer, I should tell you, "In the bird's-nests of the forest, In the lodges of the beaver, In the hoof-prints of the bison, In the eyry of the eagle! But most importantly the narrator encourages the reader to seek out one important story, the song of Hiawatha. Why is this song of Hiawatha so crucial, the reader might ask. The narrator replies: Sang the Song of Hiawatha, Sang his wondrous birth and being, How he prayed and how he fasted, How he loved, and toiled, and suffered, That the tribes of men might prosper, That he might advance his people!" The importance of the past is proclaimed here. One should never forget those that came before him to pave the way. Not only should one not forget but one should learn from it and use the knowledge gained to push into the future. Listen to this simple story, To this Song of Hiawatha!... For a while to muse, and ponder On a half effaced inscription... Full of all the tender pathos Of the here and the Hereafter;-

Marketing Project on Nokia Essay

Introduction: Nokia is a world leader in mobile phone industry, but its market share has recently been diminished by tough competition in the smart phone market. It targeted rural markets with mobile phones that are affordable and, the mobile phones were not only for the communication but also for varied purposes like torch light, radio etc. Farmers use it during nights as a torch light. Nokia was able to fully penetrate and conquer the still untapped rural mobile phone market. Nokia plans to conquer the untapped rural market by providing additional services like information on agriculture, microfinance, weather reports. Background: In 1865, an engineer named Fredrik Idestam established a wood-pulp mill and started manufacturing paper in southern Finland near the banks of a river. Those were the days when there was a strong demand for paper in the industry, the company’s sales achieved its high-stakes and Nokia grew faster and faster. The Nokia exported paper to Russia first and then to the United Kingdom and France. The Nokia factory employed a fairly large workforce and a small community grew around it. In southern Finland a community called Nokia still exists on the riverbank of Emà ¤koski. Finnish Rubber Works, a manufacturer a Rubber goods, impressed with the hydro-electrcity produced by the Nokia wood-pulp (from river Emà ¤koski), merged up and started selling goods under the brand name on Nokia. After World War II, it acquired a major part of the Finnish Cable Worksshares. The Finnish Cable Works had grown quickly due to the increasing need for power transmission and telegraph and telephone networks in the World War II. Gradually the ownership of the Rubber Works and the Cable Works companies consolidated. In 1967, all the 3 companies merged-up to form the Nokia Group. The Electronics Department generated 3 % of the Group’s net sales and provided work for 460 people in 1967, when the Nokia Group was formed. In the beginning of 1970, the telephone exchanges consisted of electro-mechanical analog switches. Soon Nokia successfully developed the digital switch (Nokia DX 200) thereby replacing the prior electro mechanical analog switch. The Nokia DX 200 was embedded with high-level computer language as well as Intel microprocessors which in turn allowed computer-controlled telephone exchanges to be on the top and which is till date the basis for Nokia’s netwok in infrastucture Introduction of mobile network began enabling the Nokia production to invent the Nordic Mobile Telephony(NMT), the world’s very first multinational cellular network in 1981. The NMT was later on introduced in other countries. Very soon Global System for Mobile Communication (GSM), a digital mobile telephony, was launched and Nokia started the development of GSM phones. Beginning of the 1990 brought about an economic recession in Finland. (Rumour has it that Nokia was offered to the Swedish telecom company Ericsson during this time which was refused) Due to this Nokia increased its sale of GSM phones that was enormous. This was the main reason for Nokia to not only be one of the largest but also the most important companies in Finland. As per the sources, in August 1997, Nokia supplied GSM systems to 59 operators in 31countries. Slowly and steadily, Nokia became a large television manufacturer and also the largest information technology company in the Nordic countries. During the economic recession the Nokia was committed to telecommunications. The 2100 series of the production was so successful that inspite of its goal to sell 500,000 units, it marvellously sold 20 million. Presently, Nokia is the number 1 production in digital technologies, it invests 8.5% of net sales in research and development. Also has its annual Nokia Game. Between 1992 and 1996, the company exited from the rubber and cable businesses as well Nokia in india: Nokia entered the Indian market in 1994. The first ever GSM call in India was made on a Nokia 2110 mobile phone on its own network in 1995. When Nokia entered India, the telecom policies were not conducive to the growth of the mobile phone industry. The tariffs levied on importing mobile phones were as high as 27%, usage charges were at Rs.16 per minute and, at these high rates, consumers did not take to mobile phones. Nokia also had to face tough competition from other powerful global players like Motorola, Sony, Siemens and Ericsson, Samsung, reliance. ————————————————- The Indian Mobile Phones IndustryThe mobile phones industry made a slow start in India in 1995. Several private players who had entered the industry in 1995 exited in the next few years due to the unfriendly telecom policies of the Indian government, high licensing fees and absence of a proper telecom regulatory body. The growth in the subscriber base of mobile phones remained sluggish initially, reaching the 1 million milestone in 1998. In 1999, the Government of India announced a new telecom policy. This policy planned to provide telephones on demand by 2002.| Among other things, the policy allowed unrestricted private entry into almost all mobile service sectors. The government allowed cellular mobile service providers to share infrastructure with other operators. It also allowed existing operators to migrate from fixed license fee to one-time entry fee with revenue sharing. This policy helped many private operators to break even faster. By 2001, the demand for mobile services was growing well. The private companies concentrated on providing basic telephone services to consumers. The number of mobile phones crossed five million by 2001 and doubled to 10 million in 2002†¦