Essay on privatization of social security

development has many aspect or diversified in nature..like wise religion, socital, industrial, spritual, enviornmental, agricultural, institutional, technoligical…sustainable and personal development and resources needs and their limits and transportations ….impact of globalisation on may be in all manner behavioral, food, shelter or cultural or geographical aspect or need …people develops their needs and imitating and importining others values and culture…. that is what engendered or propagate and so on thinks…… can be protect and propagate developments …its on going process and not in denger

Prior to the change of regime in 1989, 65% of Hungary's trade was with Comecon countries. By the end of 1997, Hungary had shifted much of its trade to the West. Trade with EU countries and the OECD now comprises over 70% and 80% of the total, respectively. Germany is Hungary's single most important trading partner. The US has become Hungary's sixth-largest export market, while Hungary is ranked as the 72nd largest export market for the . Bilateral trade between the two countries increased 46% in 1997 to more than $1 billion. The . has extended to Hungary most-favored-nation status, the Generalized System of Preferences, Overseas Private Investment Corporation insurance, and access to the Export-Import Bank .

At the time Friedman and Phelps propounded their ideas, the United States had little experience with sustained inflation. So this was truly a prediction rather than an attempt to explain the past. In the 1970s, however, persistent inflation provided a test of the Friedman-Phelps hypothesis. Sure enough, the historical correlation between inflation and unemployment broke down in just the way Friedman and Phelps had predicted: in the 1970s, as the inflation rate rose into double digits, the unemployment rate was as high or higher than in the stable-price years of the 1950s and 1960s. Inflation was eventually brought under control in the 1980s, but only after a painful period of extremely high unemployment, the worst since the Great Depression.

Since World War II, there has been a clear reduction in trade barriers such as tariffs and quotas (Madsen 2009:404-5). Similarly, the amount of trade worldwide has increased sharply in relations to GDP and output (Hummels 2007:131). This development is often attributed to the efforts made by the General Agreement on Tariffs and Trade (GATT), which became the WTO in 1995, as well as the IMF (Easterly 2005:2-3). Especially the GATT/WTO, whose main purpose was to lower barriers to trade, is considered to have had a profound influence on international trade (Irwin 1995:325-6). However, in a historical perspective, reductions in protectionist measures have often been the result, rather than the cause, of increased international trade (Chase-Dunne, Kawano and Brewer 2000:87-93). Nevertheless, in relations to the GATT, it seems that trade has increased subsequently after each round of negotiation which has contributed to lowering trade barriers (Goldstein, Rivers and Tomz 2007:55-6, 61). This provides good grounds to argue that the GATT/WTO have indeed had an effect on economic globalization. Nevertheless, barriers to trade, notably in agriculture and textiles, are still prevalent. Hence, it is not the case that there has been a complete shift towards a deregulated economy. In addition, there has been a notable reduction in transportation costs since the last half of the 20 th century that is seen as a contributing factor to increased trade flows (Hummels 2007:136, 152). Moreover, at a glance, the GATT/WTO’s policies seem to be an outcome of neoliberal institutionalist theory as they emphasize economic efficiency and gains from trade that arises due to comparative advantage (The Case for Open Trade). Most importantly, global trade has had a relatively linear increase since the end of World War II and had already reached high levels before the 1970s and the decline of Keynesianism. The advent of neoliberalism can thus not be the cause of increased globalization (Cohen and Centeno 2006:44-6). Lastly, globalization has had an unequal effect on international trading patterns, with a disproportionate increase in trade growth occurring between countries that traded with each other before the 1970s (Helpman, Melitz and Rubinstein 2008:442-3, 447-8). Thus, lack of empirical evidence and the presence of rival explanations makes it highly doubtful whether or not it is possible to establish causality, or even a correlation, between neoliberalism and international trade.

Essay on privatization of social security

essay on privatization of social security

Since World War II, there has been a clear reduction in trade barriers such as tariffs and quotas (Madsen 2009:404-5). Similarly, the amount of trade worldwide has increased sharply in relations to GDP and output (Hummels 2007:131). This development is often attributed to the efforts made by the General Agreement on Tariffs and Trade (GATT), which became the WTO in 1995, as well as the IMF (Easterly 2005:2-3). Especially the GATT/WTO, whose main purpose was to lower barriers to trade, is considered to have had a profound influence on international trade (Irwin 1995:325-6). However, in a historical perspective, reductions in protectionist measures have often been the result, rather than the cause, of increased international trade (Chase-Dunne, Kawano and Brewer 2000:87-93). Nevertheless, in relations to the GATT, it seems that trade has increased subsequently after each round of negotiation which has contributed to lowering trade barriers (Goldstein, Rivers and Tomz 2007:55-6, 61). This provides good grounds to argue that the GATT/WTO have indeed had an effect on economic globalization. Nevertheless, barriers to trade, notably in agriculture and textiles, are still prevalent. Hence, it is not the case that there has been a complete shift towards a deregulated economy. In addition, there has been a notable reduction in transportation costs since the last half of the 20 th century that is seen as a contributing factor to increased trade flows (Hummels 2007:136, 152). Moreover, at a glance, the GATT/WTO’s policies seem to be an outcome of neoliberal institutionalist theory as they emphasize economic efficiency and gains from trade that arises due to comparative advantage (The Case for Open Trade). Most importantly, global trade has had a relatively linear increase since the end of World War II and had already reached high levels before the 1970s and the decline of Keynesianism. The advent of neoliberalism can thus not be the cause of increased globalization (Cohen and Centeno 2006:44-6). Lastly, globalization has had an unequal effect on international trading patterns, with a disproportionate increase in trade growth occurring between countries that traded with each other before the 1970s (Helpman, Melitz and Rubinstein 2008:442-3, 447-8). Thus, lack of empirical evidence and the presence of rival explanations makes it highly doubtful whether or not it is possible to establish causality, or even a correlation, between neoliberalism and international trade.

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