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This article is a debate on the rising of the European extremism, based on the recent French elections results. What’s going to happen next and is America different from Europe? The author suggests some possible answers.
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source: THE ECONOMIST, London, Jan 17, 1953 - Confusion Behind the Iran Curtain
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The Altman’s model is in wide use in the world as one of reliable tools for prediction of a company bankruptcy. Today, especially in the current recession, this model has special application possibilities. Companies in Bosnia and Herzegovina for a longer period of time face difficulties in their businesses which results in bankruptcies “under suspicious conditions”. One of possible causes is inadequate usage of prediction models, specially of “Z” score model, as one of the most reliable tools not only for bankruptcy prediction, but also for due diligence and value assessments of companies.
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The article deals with current issues related to environmental protection investment in Ukraine. First of all, green investments are defined in order to avoid inconsistencies in the interpretation of the results. There are analysis of investments in environmental protection over the past five years and the main source of funding, social and economic implications of green investment are considered. During writing conclusions of the article were made primarily on the basis of Ukrainian official statistics.
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The present paper investigates the use of national wage settings as a mechanism to deter entry via foreign direct investment (FDI) in a unionized monopoly industry. A union which sets centralized wages in a multi-unit firm can both decentralize and change the agenda to prevent the market entry of a non-unionized firm. The adoption of the efficient bargaining agenda is especially effective to deter entry because it lowers the fixed-cost threshold the entrant can bear. Moreover, through side-payments, the incumbent and the union can have common interests in modifying the wage setting to reach outcomes that is Pareto-superior to duopoly. However, if the union cedes “too much power” and becomes “too weak”, internal conflicts with the incumbent firm may arise.
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The article delves into the judgement of the General Court in the Trajektna case. The essential problem therein concerns a possibility to declare an assessment of market behaviour under national competition law as tantamount to an assessment under EU antitrust law. The very issue in this context is that domestic rules are equivalent to those in the Treaty. Nonetheless, such an approach may raise doubts since merely literal correlation does not suffice to render both legal bases exchangeable. Another relevant aspect is leaving a space to manoeuvre for national courts to act when the proceedings are carried out before them. This is indeed legitimate through the lens of the principle of loyalty with regard to the cooperation between national courts and the European Commission.
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The inclusion of Poland to the common market for goods meant the abolition of customs duties and quantitative restrictions on agricultural products in mutual trade with the countries of the European Union (customs duties on industrial goods have already been abolished by the Europe Agreement) and the application of the Common Customs Tariff on imports from third countries. Freedom of movement of goods after the accession to the EU accounted for Polish entrepreneurs a chance, because the fulfillment of EU norms and standards means full access to the common market, amounting to more than 500 million inhabitants. Particularly noticeable was the impact of accession on foreign trade, which, thanks to the membership not only gained easier access to the common market, but also new opportunities to increase trade with third countries. Since Polish accession to the EU gradually increased trade in agricultural products as well as their participation in the Polish foreign trade. Emigration of Poles also increased significantly, especially to countries that with effect from 1 May 2004 opened their labor markets, namely the United Kingdom, Ireland. In the final evaluation of the benefits of joining the common market and free movement of goods, persons, services and capital far outweigh, in both the scale of the economy and at the micro level, the costs associated with membership in the European common market.
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The fur trade, which runs from the Scandinavia to the Caspian Sea,began to focus from the 6th century. The historical process that causes this situation, began with encounters of some of the Slavic tribes , spreading from the field of Middle Ozi(Dnieper) northerly to the surroundings of Lake Ladoga and İlmen with Fin societies in the 6-8th century. In the 8th century Normans which penetrated to the Ladoga and İlmen Lake surroundings, spread in the direction of upper Idil (Volga) and Ozi River. So Normans arrived the Khazar country through the Idil River and also came down to the Black Sea through the Ozi and contacted the Slavs there. In the following process, Normans and later Russian merchants, sold valuable furs they receive from Fin and Slavic people, especially to Islamic countries under the patronage of Idil Bulgarian states.
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A Bayesian structural time series model is used to forecast the current value of the consumption index in Mexico, where correlated searches in Google's search engine are used to determine the weekly value of the index. Mexico’s Institute of Statistics and Geography releases the consumer index, along with other important macroeconomic variables, in a three-month span from their recollection. This can be improved by using information that is readily available just a few days from the end of each month to create an estimate with Bayesian methods. For this we set the time series model in state space mode, which allows us to use a big set of regressors as predictors of the current value of Mexico’s consumer index. The main finding is that the use of the search queries improves significantly the accuracy of prediction.
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A Bayesian structural time series model is used to forecast the current value of the consumption index in Mexico, where correlated searches in Google's search engine are used to determine the weekly value of the index. Mexico’s Institute of Statistics and Geography releases the consumer index, along with other important macroeconomic variables, in a three-month span from their recollection. This can be improved by using information that is readily available just a few days from the end of each month to create an estimate with Bayesian methods. For this we set the time series model in state space mode, which allows us to use a big set of regressors as predictors of the current value of Mexico’s consumer index. The main finding is that the use of the search queries improves significantly the accuracy of prediction.
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During Industry 4.0 – the fourth industrial revolution happening in our world today – technologies and applications are developing at an enormous pace which has significant effects on both societies and technology. Many countries were unprepared for this fast development and must enhance their knowledge and creativity in order to effectively utilize new opportunities created by data explosion. Companies have to face the challenge of analyzing Big Data, while through the Internet of Things huge files are generated. As a result, companies’ labour-force needs and job profiles are changing; new professions are born, others disappear. Using Big Data methods forecasts can be predicted by data scientists.
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A Brief History of International Trade Thought: From Pre-doctrinal Contributions to Contemporary Neoclassical Economics
The present paper outlines the development of international trade thought, from the pre-doctrinal contributions of Greek philosophers and scholastic theologians, through the theories of the first schools of economic thought, and up to modern trade theories. I follow filiations of ideas in a chronological order, and show how theoretical investigation into the causes and effects of international trade - and the necessity of government intervention - has evolved over centuries of economic thought.
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The prevailing view of capacity building is summed up in the adage: “Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.” In other words, simple compassion is counterproductive; utilitarian measures of effectiveness are the best standard for evaluating a social innovation. This paper will explore the alternative possibility that practicing simple compassion as the highest virtue, as did the Buddha, can be so productive that the aphorism should be: “Give a woman a fish, and she may help you build a fish farm.” This argument is illustrated by an exploratory case study of a Thai firm, Siam Hands. The company exemplifies a Buddhist economics approach to social innovation and capacity building, as opposed to mainstream Western utilitarianism.
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In this paper, the authors analyze global innovation rankings as provided by Strategy& over the last 7 years. They first explore the raw ranks and report variations in year-over-year (YOY) ranks for top ten ranking companies. The normalized innovation ranks are then used to calculate the Innovation Power (inP) to assess if these companies maintained or improved their ranks over time. An interesting classification of innovations for the top 10 emerges from this analysis. The constant top innovators were Apple and Google. The rising innovators were Tesla, 3M and Facebook. Other classifications are discussed. The authors propose a non-statistical predictive model, which is reminiscent of a kinematic model using a novel concept of Innovation Momentum (inM) and predict that for 2017, Apple and Google will hold their first and second place, followed by Amazon, Samsung and Tesla. Facebook is also expected to rise in its rank. Companies that reach out and serve end-user needs with service innovations appear rising in ranks, far more than R&D intensive patent filing innovators in these ranks. Tesla is an interesting top ranker to watch. There are implications for software focused companies gaining importance given their flexibility over hardware dominant ones. Some bottom innovators are further declining. Although the rankings are perception-based, there is a pattern that implies it is not random or merely subjective. The analysis highlights the need for leaders and consultants to put in perspective the complex management problem of measuring innovation.
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The paper briefly discusses some issues approached in the study ‘A comment on the law of supply and demand’ by M. Northrup Buechner, published in this issue of J Phil Econ. The way of discussing is logical-theoretical, without bringing into attention empirical data. Even less than that, only a few of the issues debated in the original study are examined, namely those issues which appeared to this author as both the most problematic and susceptible to drive the future discussion in the matter.
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Graduate economics departments have largely abandoned the law of supply and demand (henceforth, The Law). Nevertheless, The Law continues to be taught in all undergraduate economics programs, and it is accepted as the fundamental law of price throughout the world. This paper explains how the modern conceptions of demand and supply as schedules have driven The Law from graduate economics. A reinterpretation of the meaning of supply and demand is suggested as the basis for bringing The Law back into the corpus of economic theory, that is, supply and demand should be conceived of the same way Adam Smith and the whole classical school conceived of them—as simple quantities.
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