Globalization Flashcards
(12 cards)
Globalization
Increasing interdependence and interconnectedness of places globally
Process in which business begin operating internationally
Globalization in Economics
Trade and Transactions
Capital and Investment Movements
Migration and Movement of people
Dissemination of knowledge
Basic economic problems
Unemployment
Poor quality of infrastructure
Poverty
Income Inequality
Unemployment Causes
Number of people entering the job market is greater than the number of jobs created
Rural-urban migration increases due to employment opportunities
Many of unemployed individuals are college graduates
Unemployment Solutions
Appropriate economic policies for labor intensive industries
Improve the educational system
Minimize rural-urban migration
Slowing population growth
Provision of more investment opportunities
Solve job mismatch
Poor quality infrastructure Solutions
Governmwnt ahould implement fiscal reform program
Continue reform in key factors
Improving central oversight of the planning and coordination of investments
Focus on investment through public private partnerships
Poverty causes
Increase in population
Increase in the cost of living
Umenployment
Income inequality
Poverty solutions
Resuce unemployment
Appropriate policy on laboe income
Provision of unemployment benefits for those who will be unemployed due to natural calamities
Increase social services
Income inequality causes
Political culture “palakasan”
Indirect taxes
Income taxes
Income inequality solutions
Policies to enforce progressive rates of direct taxation
Direct money transfers and subsidize food programs
Direct government policies to keep the price of basic commodities low
Raise minimum wage
Encourage profit sharing
Income
Money that an individual earned from work or business
Income inequality
Gap in income that exists between the rich and the poor
