Tai Lopezs Top 1. Book Recommendations. Paul Baumer enlisted with his classmates in the German army of World War I. Youthful, enthusiastic, they become soldiers. But despite what they have learned, they break into pieces under the first bombardment in the trenches. And as horrible war plods on year after year, Paul holds fast to a single vow to fight against the principles of hate that meaninglessly pits young men of the same generation but different uniforms against each otherif only he can come out of the war alive. In his widely praised book, award winning psychologist Jonathan Haidt examines the worlds philosophical wisdom through the lens of psychological science, showing how a deeper understanding of enduring maxims like Do unto others as you would have others do unto you, or What doesnt kill you makes you stronger can enrich and even transform our lives. Every year, the average American eats thirty three pounds of cheese and seventy pounds of sugar. Every day, we ingest 8,5. It comes from processed food, an industry that hauls in 1 trillion in annual sales. In Salt Sugar Fat, Pulitzer Prizewinning investigative reporter Michael Moss shows how we ended up here. Wake up and take control of your life From the bestselling author of Inner Strength, Unlimited Power, and MONEY Master the Game, Anthony Robbins, the nations leader in the science of peak performance. Anthony shows you his most effective strategies and techniques for mastering your emotions, your body, your relationships, your finances, and your life. Awaken the Giant Within is 2. Tai Lopezs top 1. The Hiltons is a sweeping saga of the success and excess of an iconic American family. Demanding and enigmatic, patriarch Conrad Hiltons visionary ideas and unyielding will established the model for the modern luxury hotel industry. But outside the boardroom, Conrad struggled with emotional detachment, failed marriages, and conflicted Catholicism. Today Ive compiled an incredibly long article, highlighting Tai Lopezs top 100 book recommendations. This long list of amazing books dives into the areas of. Few entrepreneurs can claim to have actually changed the way we live, but Ray Kroc is one of them. His revolutions in food service automation, franchising, shared national training and advertising have earned him a place beside the men who founded not merely businesses but entire new industries. Amazon. coms visionary founder, Jeff Bezos, wasnt content with being a bookseller. He wanted Amazon to become the everything store, offering limitless selection and seductive convenience at disruptively low prices. To do so, he developed a corporate culture of relentless ambition and secrecy thats never been cracked. Until now. 2. 8. Inheritance By Sharon Moalem. Award winning physician and New York Times bestselling author Sharon Moalem, MD, Ph. D, reveals how genetic breakthroughs are completely transforming our understanding of both the world and our lives. Why are most neurosurgeons male and most kindergarten teachers female Why arent there more women on death row Why do so many male politicians ruin their careers with sex scandals Why and how do we really fall in loveThis engaging book uses the latest research from the field of evolutionary psychology to shed light on why we do the things we do. In Social, renowned psychologist Matthew Lieberman explores groundbreaking research in social neuroscience revealing that our need to connect with other people is even more fundamental, more basic, than our need for food or shelter. Free trade Wikipedia. Free trade is a policy followed by some international markets in which countries governments do not restrict imports from, or exports to, other countries. Free trade is exemplified by the European Economic Area and the Mercosur, which have established open markets. Most nations are today members of the World Trade Organization WTO multilateral trade agreements. However, most governments still impose some protectionist policies that are intended to support local employment, such as applying tariffs to imports or subsidies to exports. Governments may also restrict free trade to limit exports of natural resources. Other barriers that may hinder trade include import quotas, taxes, and non tariff barriers, such as regulatory legislation. There is a broad consensus among economists that protectionism has a negative effect on economic growth and economic welfare, while free trade and the reduction of trade barriers to trade has a positive effect on economic growth. 123456 However, liberalization of trade can cause significant and unequally distributed losses, and the economic dislocation of workers in import competing sectors. 2Features of free tradeeditFree trade policies generally promote the following features Trade of goods without taxes including tariffs or other trade barriers e. Trade in services without taxes or other trade barriers. The absence of trade distorting policies such as taxes, subsidies, regulations, or laws that give some firms, households, or factors of production an advantage over others. Unregulated access to markets. Unregulated access to market information. Inability of firms to distort markets through government imposed monopoly or oligopoly power. Trade agreements which encourage free trade. Economics of free tradeeditEconomic modelseditTwo simple ways to understand the proposed benefits of free trade are through David Ricardos theory of comparative advantage and by analyzing the impact of a tariff or import quota. An economic analysis using the law of supply and demand and the economic effects of a tax can be used to show the theoretical benefits and disadvantages of free trade. 78Most economists would recommend that even developing nations should set their tariff rates quite low, but the economist Ha Joon Chang, a proponent of industrial policy, believes higher levels may be justified in developing nations because the productivity gap between them and developed nations today is much higher than what developed nations faced when they were at a similar level of technological development. Underdeveloped nations today, Chang believes, are weak players in a much more competitive system. 91. Counterarguments to Changs point of view are that the developing countries are able to adopt technologies from abroad, whereas developed nations had to create new technologies themselves, and that developing countries can sell to export markets far richer than any that existed in the 1. If the chief justification for a tariff is to stimulate infant industries, it must be high enough to allow domestic manufactured goods to compete with imported goods in order to be successful. This theory, known as import substitution industrialization, is largely considered ineffective for currently developing nations. 9The economics of tariffsedit. The pink regions are the net loss to society caused by the existence of the tariff. The chart at the right analyzes the effect of the imposition of an import tariff on some imaginary good. Prior to the tariff, the price of the good in the world market and hence in the domestic market is Pworld. The tariff increases the domestic price to Ptariff. The higher price causes domestic production to increase from QS1 to QS2 and causes domestic consumption to decline from QC1 to QC2. 1. This has three main effects on societal welfare. Consumers are made worse off because the consumer surplus green region becomes smaller. Producers are better off because the producer surplus yellow region is made larger. The government also has additional tax revenue blue region. However, the loss to consumers is greater than the gains by producers and the government. The magnitude of this societal loss is shown by the two pink triangles. Removing the tariff and having free trade would be a net gain for society. 1. An almost identical analysis of this tariff from the perspective of a net producing country yields parallel results. From that countrys perspective, the tariff leaves producers worse off and consumers better off, but the net loss to producers is larger than the benefit to consumers there is no tax revenue in this case because the country being analyzed is not collecting the tariff. Under similar analysis, export tariffs, import quotas, and export quotas all yield nearly identical results. 7Sometimes consumers are better off and producers worse off, and sometimes consumers are worse off and producers are better off, but the imposition of trade restrictions causes a net loss to society because the losses from trade restrictions are larger than the gains from trade restrictions. Free trade creates winners and losers, but theory and empirical evidence show that the size of the winnings from free trade are larger than the losses. 7Trade diversioneditAccording to mainstream economic theory, the selective application of free trade agreements to some countries and tariffs on others can lead to economic inefficiency through the process of trade diversion. It is economically efficient for a good to be produced by the country which is the lowest cost producer, but this does not always take place if a high cost producer has a free trade agreement while the low cost producer faces a high tariff. Applying free trade to the high cost producer and not the low cost producer as well can lead to trade diversion and a net economic loss. This is why many economists place such high importance on negotiations for global tariff reductions, such as the Doha Round. 7Opinion of economistseditThe literature analysing the economics of free trade is extremely rich with extensive work having been done on the theoretical and empirical effects. Though it creates winners and losers, the broad consensus among economists is that free trade is a large and unambiguous net gain for society. 1. In a 2. 00. 6 survey of American economists 8. U. S. should eliminate remaining tariffs and other barriers to trade and 9. U. S. should restrict employers from outsourcing work to foreign countries. 1. Quoting Harvard economics professor N. Gregory Mankiw, Few propositions command as much consensus among professional economists as that open world trade increases economic growth and raises living standards. 1. In a survey of leading economists, none disagreed with the notion that freer trade improves productive efficiency and offers consumers better choices, and in the long run these gains are much larger than any effects on employment. 1. Most economists would agree that although increasing returns to scale might mean that certain industry could settle in a geographical area without any strong economic reason derived from comparative advantage, this is not a reason to argue against free trade because the absolute level of output enjoyed by both winner and loser will increase with the winner gaining more than the loser but both gaining more than before in an absolute level. HistoryeditEarly eraeditThe notion of a free trade system encompassing multiple sovereign states originated in a rudimentary form in 1. Imperial Spain. 1. American jurist. Arthur Nussbaum noted that Spanish theologian Francisco de Vitoria was the first to set forth the notions though not the terms of freedom of commerce and freedom of the seas. 1. Vitoria made the case under principles of jus gentium. 1. However, it was two early British economists Adam Smith and David Ricardo who later developed the idea of free trade into its modern and recognizable form. Economists who advocated free trade believed trade was the reason why certain civilizations prospered economically. Adam Smith, for example, pointed to increased trading as being the reason for the flourishing of not just Mediterranean cultures such as Egypt, Greece, and Rome, but also of Bengal East India and China. The great prosperity of the Netherlands after throwing off Spanish Imperial rule and pursuing a policy of free trade2.
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