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Capitalism Pre capitalist Mercantilism is economic nationalism for the purpose of building a wealthy and powerful state. Adam Smith coined the term “mercantile system” to describe the system of political economy that sought to enrich the country by restraining imports and encouraging exports. (Library of economics and liberty) The goal of these policies was, supposedly, to achieve a “favourable” balance of trade that would bring gold and silver into the country and also to maintain domestic employment the mercantile system served the interests of merchants and producers such as the British East India Company, whose activities were protected or encouraged by the state. The most important economic rationale for mercantilism in the sixteenth century was the consolidation of the regional power centres of the feudal era by large, competitive nation-states. Enclosure Acts (1604 – 1914)– land publicly used for grazing , crops became the property of landlords – who then increased rent – pushing people toward the cities to earn a living Other contributing factors were the establishment of colonies outside Europe; the growth of European commerce and industry relative to agriculture; the increase in the volume and breadth of trade; and the increase in the use of metallic monetary systems, particularly gold and silver, relative to barter transactions. Growth of empire building (and military) During the mercantilist period, military conflict between nation-states was both more frequent and more extensive than at any other time in history. The armies and navies of the main protagonists were no longer temporary forces raised to address a specific threat or objective, but were full-time professional forces. Each government’s primary economic objective was to command a sufficient quantity of hard currency to support a military that would deter attacks by other countries and aid its own territorial expansion. In exchange for paying levies and taxes to support the armies of the nation-states, the mercantile classes induced governments to enact policies that would protect their business interests against foreign competition. For example; In France, Jean-Baptiste Colbert, the minister of finance under Louis XIV from 1661 to 1683, increased port duties on foreign vessels entering French ports and provided bounties to French shipbuilders. In Britain - the Navigation Act of 1651 prohibited foreign vessels from engaging in coastal trade in England and required that all goods imported from the continent of Europe be carried on either an English vessel or a vessel registered in the country of origin of the goods. Finally, all trade between England and its colonies had to be carried in either English or colonial vessels But then The innovation and invention thoprugh science and reasoning led to the Eric Hobsbawm did not exaggerate when he opined that “the Industrial Revolution marks the most fundamental transformation of human lif ...
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“Foreign Policy and Domestic Policy Are but One System” Mises on International Organizations and the World Trade Organization F CARMEN ELENA DOROBĂŢ T he unsuccessful Doha Round and the future of the World Trade Organiza- tion (WTO) have been the subject of intense debate recently. The misadven- tures of the past ten years of trade talks have led many scholars to become more pessimistic about the future of multilateral trade agreements, while the opti- mists keep busy suggesting alternatives for current negotiations. The one issue both sides agree upon is that the existence of an international organization is a necessary, inevitable step toward international free trade. As a consequence of this general agreement, suggested alternatives revolve around reforming the negotiations arena and rehashing its role. Once revamped, can the WTO indeed make a lasting contribution to free trade? This article attempts to answer this question by outlining Ludwig von Mises’s views Carmen Elena Dorobăţ is a Ph.D. candidate at the École Doctorale DEGEST, University of Angers, and an instructor in the Department of International Business and Economics at Bucharest Academy of Economic Studies. The Independent Review, v. 19, n. 3, Winter 2015, ISSN 1086–1653, Copyright © 2015, pp. 357–378. 357 on the role and usefulness of international organizations and trade agreements. Unlike our contemporaries, Mises believed that the failure of international organiza- tions was inevitable in the presence of domestic economic intervention. Whereas negotiating governments are attached to the idea of interventionism and thrive on anticapitalistic mentalities, peace and free trade require the unhampered development of free enterprise. In Mises’s view, as long as the inherent tension between domestic and foreign policy persists, international trade-planning bodies cannot bring about free trade. The purpose of this article is therefore twofold. First, it highlights Mises’s contributions to the topic of foreign-trade policy, which have so far received little attention. Mises offered noteworthy insights on the shortcomings of international organizations established after World War II, and his remarks foreshadow half a century of international trade negotiations. This stands as a testimony to his acumen and mastery of the topic. Second, following Mises, I argue that the current impasse of WTO negotiations was caused by the pursuit of international agreements that clash with domestic policies in a manner similar to the League of Nations’ failure to preserve peace in the early twentieth century. To this end, the article is structured as follows. The first section briefly outlines the international economic landscape— that is, the international trade system and the free-trade movement, from the beginning of the twentieth century up to the present day. The next section turns to Mises’s contributions, as set out in his works and private corresp ...
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Europe in Asia Gunpowder, expansion and state consolidation in a world of limited good Topics European Overseas Expansion State consolidation The Gunpowder Revolution Mercantilism: The policy of imperial expansion and state consolidation in a world of limited good Southwest Asia European Exploration as Desperation Cut off from access to main trade centers. Even before cut off, access difficult and expensive. Access connected to European state formation/consolidation Henry the Navigator Connecting through N. Africa Finding Prester John Portuguese Exploration European Entry into Indian Ocean and End of Polycentrism Reconquista in Spain (unification of Iberian peninnsula by kicking out Muslims and Jews) State building Gunpowder (shift in military technology) Different attitude to property (concept of private property based on application of labor: labor theory of value) Different attitude toward trade; modeled on practices of Italian city-states in Mediterranean, which extended practice of control over trade in ports (common throughout the world) to shipping lanes. Running a protection racket along shipping routes like modern day pirates) As such, brought different attitude to trade into the largely self-regulating, polycentric system of Indian Ocean basin Armed trade Beginning of end of polycentrism in global economy Europeans arrived and did not find this China as the big player in all of this, the driver of global trade Voyages of Admiral Zheng He, 1405-1433 Specifically charged w/ encouraging trade after collapse of Mongol empire, years of Chinese isolation and earlier policies (and lack of silver) led to collapse of trade and Chinese currency And then, as suddenly as they appeared, the Chinese were gone By beginning of 16th c., everyone wants in on the action The Emergence of the Modern State, c. 1500-1700 as means to achieve this What do we mean by “modern” or “nation” in this context? What factors contributed to consolidation of political authority in centralized states? Gunpowder What policies sustained consolidated states? Revenue, recruits and labor All had to be extracted from a world of limited good What do we mean by “modern” state? Modern: Centrally administered states that can extend their authority throughout territory (more or less) Nation? yes and no although rhetoric was there, much still missing, such as homogenous print culture and internal markets New types of identities Medieval “local” erodes further, even for rural inhabitants Social estate (more caste than class) still important, but “subject” of a particular ruler becoming more prevalent among population But remember… “I’m not dead yet!” Empire as a form of political organization still viable, vibrant and, in many ways, victorious (made it to 20th Century): Russian Empire Ottoman Empire Qing Dynasty 11 Two Tracks for State Development Both claimed to benefit the commonweal/the common good Limitation of monarchy by law and representa.
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0183760ssssssssssssssssssssssssssss00101011 (27).pdf
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Here is a presentation of some of our works for the Pharmaceutical Industry. If you are a Pharma Brand Manager and are considering hiring a creative or Event Agency, look no further. We have over 17 years of experience of working with Pharma Clients and most importantly, we address the burning issue of In-Clinic Engagement between your field executive and the Doctors
Pharma Works Profile of Karan Communications
Pharma Works Profile of Karan Communications
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Transformation is even harder than we thought “Only 22% of companies successfully carry out transformation. The failure rate was 78%.” “Often the business value of digital transformation is not realized. One of the most common causes is an abundance of technology projects, not a true business culture transformation” - Phil Le-Brun, Enterprise Strategist, AWS
Organizational Transformation Lead with Culture
Organizational Transformation Lead with Culture
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0183760ssssssssssssssssssssssssssss00101011 (27).pdf
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Pharma Works Profile of Karan Communications
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Organizational Transformation Lead with Culture
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