Economic Growth Helps The State

Economic growth helps states and ensures more goods for citizens. People spend more when there is economic growth. They can manage to have a decent life, without material shortages. Easier access to public goods and services has always been the basis for strong economic growth.

Politics is essential for the emergence of economic growth

Although you have stumbled across hypotheses in economics books according to which the economy and economic growth should not really be linked with politics, the reality is that without politics, one cannot hope for economic growth. It is politics that dictates exactly how economic growth happens and where its benefits are directed, toward which sectors.

Economic Policy And Development

Economic policy is a collective term for all the measures taken by the authorities to influence economic development in the country. It is the state in particular that conducts such policy. However, the counties and municipalities can take measures with the same purpose to a limited extent.

The objectives of the policy

The aims of the policy are to stabilize economic activity that is to say to counteract unemployment and inflation. In addition, it stimulates economic growth and influences business structure and income distribution.

The most important instruments in stabilization and growth policy are fiscal policy, and monetary and credit policy. The state’s finances are based on the state budget, which indicates the state’s income and expenditures.

Why Is Steady Economic Growth Vital?

Appropriate and steady economic growth means growth in the manufacture of goods. This goes together with better care for humanity. Generally, you can interpret this as a growth in the material wealth of society.

Increase in material prosperity

In order to achieve this goal, economic growth is a prerequisite. It includes not only a complete increase in prosperity but also the reduction and elimination of material poverty.

Reducing unemployment or avoiding it

Regardless of how you implement it, competition characterizes a market economy. This competition promotes increases in productivity in companies in order to achieve higher revenues and ultimately profits. However, if economic growth remains the same, an increase in labor productivity leads to a decline in employment. After all, constant growth means that production in companies also remains constant.

3 Ideas of Ways Politicians can Entertain Their Constituents

Politicians are often seen as boring, out-of-touch figures that don’t really understand how to connect with their constituents. In the past, this was probably true. But in the modern world of social media and constant streaming of information, politicians will have to adapt or risk losing their jobs to a younger set of leaders.

Luckily, there are plenty of examples of how politicians can entertain their constituents without coming across as pandering or phony. With the rise of social media and the role it plays in our everyday lives, politicians can no longer rely on traditional methods for staying connected with their constituents.

Here are 3 ideas for ways politicians can entertain their constituents:

Hold Town Halls and Ask For Feedback

Politicians often find it difficult to stay in touch with what the people they represent want and need. Holding townhalls and asking constituents what they want from their government is an easy way to get feedback and stay in touch with what people want and need.

With the explosive growth of social media, its role has become more important. Many constituents aren’t even aware that their elected officials are on social media and even fewer know how to find them.

Run Comedy Events to Engage Constituents

Comedy and entertainment events have always been a great way for politicians to get in front of their constituents and talk about the issues. But in the past, these kinds of events were seen as frivolous, and often reserved for fundraising or private gatherings. In this modern time, politicians can take advantage of comedy events as a way to reach their constituents and talk about real issues that are important to their communities.

This can be done in public or private settings, and can take many forms — from a formal debate to a stand-up comedy show. They can do this in the day and once the sun sets. 

Another example of running comedy events for engagement is when they are trying to educate their constituents of new opportunities. For instance, they want to introduce traderscentral funding prop firm, the event can be used warm up everyone up. Then after, introduce the main topic of the event.

Make Videos that Help Explain Policies

In an era where there is a constant flow of information, many people don’t have the time or patience to read long and drawn-out policy recommendations from government officials.

This can, however, be overcome with short videos that explain policies in an easy-to-digest format.

Politicians can reach out to their constituents on social media platforms like YouTube and explain policies in ways that are easy to understand.

What Does Political Economy Mean?

Political economy concentrates on studying the effects of capitalism on labor, productivity, and economic development.

What are the three forms of political economy?

Capitalism, socialism, and communism are the three forms of political economy. In socialism and communism, the government and society own the resources. However for capitalism, private individuals own the resources.

What is the difference between political economy and economics?

Both political economy and economics focus on the study of markets. The political economy take into consideration political and social factors in which economics does not.

The significance of political economy

Political economy is essential in defining the relationship between societies, the government, and citizens. In addition, it determines the effect of public policy on numerous entities.

US States Planning to Make Bitcoin as Legal Tender

Bitcoin money

 

It is unlikely that the plans of politicians in two states will become laws. But they show how far U.S. policy has opened up to cryptocurrencies.

It was suspected that a US state would want to become the next El Salvador by also appointing Bitcoin, including those earned in trading using platforms like bitcoin 360 AI, as legal tender. So to the official means of payment. According to some Republican politicians, this should happen in two states today rather than tomorrow.

Arizona

In Arizona, for example, Senator Wendy Rogers has presented a bill to make Bitcoin legal tender. The design is impressively clear and simple. It defines what is legal tender in the state of Arizona:

So far, these are 1. any means of payment authorized by the Constitution or Congress, 2. notes issued by the U.S. government, and 3. any banknote recognized as legal tender by a competent court. Rogers’ draft adds a point succinctly: “4. Bitcoin.” That’s it.

Wendy Rogers is one of the most controversial female politicians in the United States. She allegedly has ties to the far-right militia Oath Keppers and has allegedly celebrated QAnon’s conspiracy theory machinery. The New York ADL, an anti-discrimination organization, recently named Rogers the most extreme politician in the U.S., which is likely to be a respectable achievement for Republicans given the openness of U.S. policy to extremes and muddleheads. Rogers then thanked the ADL’s “losers” for the award.

However, it is not very likely that the draft will be adopted. Because the U.S. Constitution does not allow states to create their own legal tender. The extent to which this also prohibits states from making existing means of payment legal is probably a question for constitutional lawyers.

 

ALSO READ: How Do You Earn An Income On Bonds?

 

Texas I

However, Wendy Rogers is not the only one with such plans. In the next eastern state, Texas, the Republican Don Huffines went public with similar, even more, far-reaching plans. Huffines plans to compete against his party colleague Greg Abbott for the office of governor.

Huffins writes that he has owned Bitcoins for years and is strongly convinced of Bitcoin’s value as an asset and potential as a currency. According to Huffins, Texas should be a leader in shaping Bitcoin policy and adopting cryptocurrencies. “I am committed to making Texas the citadel for Bitcoin and protecting the industry from the federal government.”

Yes, he really said citadel. It is obvious, Huffins continued, that the government is trying to prevent freedom-loving Texans from investing in Bitcoin, “and without a dedicated governor to stand in their way, it will do so.” His far-reaching plans to make Texas the Bitcoin Citadel also include making Bitcoin legal tender.

Texas II

However, the enthusiasm for Bitcoin is not a very strong unique selling point for Huffins. Texas’ incumbent governor, Republican Greg Abbott, also welcomes the crypto industry with open arms.

Texas has become a mining hotspot under him in recent years. One of the reasons for this is Abbott’s open policy. The laws and regulations enacted under him make it easy for companies to hold cryptocurrencies and also use them as collateral for loans.

Since the miners have fled China, Texas has become more and more established as a mining superpower. This also has consequences for the power supply. Abbott reportedly negotiated directly with the industry and asked miners to help survive the winter without a power outage by shutting down their machines during periods of congestion. Experience from countries such as Iran or Kazakhstan shows that such cooperation may be necessary to prevent excessive mining from bringing power grids to the brink of collapse.

This close cooperation between the government and miners, for example through the Texas Blockchain Council, also opens up the government to unusual approaches. According to the Council, Abbott sees the benefits of the “healthy dynamics” of mining, which brings in taxpayers’ money, creates jobs, and also strengthens the power grid. This thesis was discussed in detail in a research paper by Square: Mining creates a constant, easily switchable demand for electricity and thus creates incentives to expand the power grid and renewable energy capacities.

This perspective on mining seems to be slowly reaching politics as well. At least in Texas.

How the Business Economy can Benefit from Current Political Campaigns?

Political campaigns can be seen as a way of cleansing the social system. They are also a way to check whether those who are elected are abiding by their word, or whether they represent specific interests.

In such circumstances, businesses need to react quickly and adjust their strategy to benefit from the new political environment, while not neglecting day-to-day operations.

Here are some of the best ideas about how RTA cabinets business or other types of businesses can benefit from the current political climate.

Be Aware of Political Events that may Impact Your Business

The political landscape is fluid, and any number of unexpected events may impact your business. Here are some scenarios in which it would be beneficial to be aware of political events that may impact your business:

  • If a specific candidate calls for boycotts against a certain industry, such as retailers that sell clothing manufactured overseas, it would be helpful to know this so that you can adjust your strategy and address this concern with your own employees.
  • If a specific candidate calls for policies that could directly impact your industry, such as a carbon tax on the energy sector, it would be helpful to know this so that you can adjust your strategy and address your employees’ concerns.

Stay Up-to-Date with Cultural and Societal Expectations

Political campaigns are times when candidates are also trying to define their opponents negatively and highlight their own positives.

This can provide an opportunity for you to learn more about how certain segments of the population perceive certain issues that impact your business.

Check Your Data to See where Your Customers’ Loyalties Lie

If your business relies on data, you can check that data to see where your customers’ loyalties lie. For example, if you are in the news business, you can check which sources are being most heavily used by your readers. If you sell products through an online marketplace, you can see what products are being purchased most often and from which sellers.

Which Political Party can Benefit the Business Economy?

The two political parties in the US have very different economic policies. Usually, the Republicans are pro-business and the Democrats are pro-labor. These generalizations are not set in stone, however, and both parties have shifted their positions throughout history.

Generally speaking, business owners need to know the current political and economic landscape. Like it or not, these two will always have an indirect and direct impact on the business. Only by knowing these things will enable you to prepare for what is coming.

Government: Economic Regulation

Economic regulation and economic promotion include state measures to maintain market balance and to avoid disruptions in economic processes.

Important elements of state market regulation are:

  • Taxes and duties for companies and households,
  • Subsidies and financial aid,
  • Pricing in the form of maximum and minimum prices.

Government economic regulation

The aim of government economic regulation and economic development is to ensure efficient economic processes. In addition, the aim is to avoid undesirable developments in the market economy. The state must observe the requirements of overall economic equilibrium.

In actual economic life, conflicts arise in the realization of economic policy goals. Typical manifestations of these conflicts are high unemployment, low economic growth, economic downturns, and environmental pollution from the manufacturing economy.

State, Economy & Society As Partners

The essence of a social market economy is to guarantee prosperity and security in society. Also, it needs to protect the freedom of the economy and individuals. The welfare state is dependent on the market economy.  The financial basis of the welfare state in the form of tax revenue and social security contributions arises with economic value creation. The market economy depends on individuals’ willingness to take risks. This increases a society’s ability to innovate. The welfare state, in turn, has the task of cushioning certain risks in life. Thus, it promotes the free-market behaviour of society.

The interactions between the state, business and society are manifold

Firstly, there are legal regulations to control the behaviour of market players through rules and prohibitions.

Second, the interaction includes material benefits such as unemployment benefits for people who cannot earn a sufficient income in certain situations.

Thirdly, it includes the provision of social infrastructure in the form of goods and services, such as the construction and operation of kindergartens, hospitals and schools.

Government And Its Economic Activity

There are two central methods by which the government may respond to economic activity to guarantee strong economic growth. These are monetary policy and fiscal policy.

Fiscal Policy

The government may also ratify policies that change tax rates, introduce tax incentives or adjust spending. With respect to the government financial statement, the government classifies whether or not it needs to spend more money than it expects to collect. The process of assessing public spending wishes to cool an overheated economy or promote economic prosperity.

Monetary Policy

One common method that a government may try to influence the economic activities of a country is by adjusting the rate of borrowing money. Oftentimes, they can do this by raising or lowering the funds’ rate. This is a target interest rate which influences short-term rates on debt like credit cards and consumer loans.

How COVID-19 Impacts The Economy Financially

Credit cards in a back pocket

 

While covid-19 has hit jobs on one hand, it has also provided an opportunity to drastically cut down on people’s expenses on the other hand. In such a situation, if you want to easily pay your expenses like home or vehicle loans or any regular expenses without any stress, then you should prepare for it from now on. Luckily, there is a Flipkart credit card to help you during these trying  times.

Arrange for up to 6 months

Even if you have taken a home loan or not, you will still have to arrange for expenses for the next 6 months. For this, you should first cut down on unnecessary expenses that you were spending before. For example, before covid-19, if there are four members in a family, then their monthly expenses on unnecessary stuff, were in this way.

There were also expenses on gyms, parlors, tuition

Watching a film once a month costs at least Rs 1,500 for four members. It costs Rs 2,000 to visit the hotel once a month. Similarly, if the regular expenses of the four members, which were to be incurred on going out, would have been around Rs 10,000. Apart from this, there were many other expenses like gym, parlor, tuition, and online order, which have stopped at this time. That is, talking about a family of four members, at this time, he can save Rs 15,000 monthly on these expenses.

You can also get good returns on 2-4 months of investment

If you want, you can save these expenses and use them in the coming time when you do not have a job or have an emergency. If such a thing does not happen to god, then you can keep that money for the emergency. Not only this, for 2-4 months, you can put this money in the liquid funds of mutual funds where you can get more returns than fds. At this time when the market has fallen, you may get a return in double digits as well. You can also resort to online for investment.

 

ALSO READ: The Financial Impact of COVID-19 To Canada’s Market

 

Use of credit cards

If you use a credit card, you should start using a credit card from this month with 45 days to pay the amount used. If you want, you can pay that money in these 45 days and use the credit card again. Provided that it is in mind that the use of credit cards should be done only during the most important expenses.

Don’t go to offers

That’s when you can stay a little away from the mal culture. Nowadays, an online procurement and goods culture dominate where expenses are incurred even if there is no need. These expenses are such that you don’t even know. A lot of companies make all the offers and withdraw money from you. Remember that no company will give any product without profit. But by offering you Rs 500, she makes you spend Rs 5,000. Remember that your Rs 5,000 goes away to get $500.

What to do with investment?

However, if you have invested, then try to save it in this bearish market and try not to keep the investment incomplete. That is, if you have kept sip tax in mutual funds, then you should continue it because in the decline of this market you will get more units at a lower price. If you have invested in insurance, keep it as well. If you have invested in a stock, sell it at the right price or reduce the average price of your investment by investing a little more in the same stock.

Keep increasing the investment

If you have a little extra money, then you can top up in mutual funds at this time and when the market is right, you can get a double-digit return in just 3-4 months. The same is the case in good stocks at the moment where you can think of investing. But don’t break the investment in any situation.

 

Influences of Government In Economy

The social market economy is the government’s economic policy model, as everyone knows. But hardly anyone is aware of the possibilities that the state has to intervene in the economic system. Government has a great scope for interpretation is in the concept of the “social market economy”.

Economic stimulus programs and tax law

The state also has the ability to intervene in the entire economic system. With the help of tax law, for example, they control the development of profits and investments and depreciation. Exhaust gas taxes or environmental taxes can influence the environmental friendliness of companies.

Economic stimulus programs primarily serve to get a faltering economy going again. The state invests more in infrastructure and subsidizes companies to create or secure jobs.

Economics Needs Political Support

You can make quite a resounding case for a Pigovian tax if you study economics. This is a tax that gets people to pay the full social cost of the good, and not just the private cost. This principle of getting the polluter pay provides a case for alcohol tax, Carbon Tax, congestion charges, and tobacco tax.

However, whether they implement these policies depends on whether there is political support.

Who runs the economy: Economists or politicians?

Another interesting case is the relationship between fiscal policy and monetary policy.

In the US and UK, fiscal policy is relatively tight, given the state of the economy. As a result, this falls to Central Banks to follow an expansionary monetary policy to counterbalance the dearth of fiscal policy. Central Bankers need to adapt monetary policy if politicians follow tight fiscal policy.

Leveraging Bookkeeping for the Gig Economy

Bookkeeping

 

The assets are mismeasured and mismanaged, although it is held by governments. Citizens—the ultimate owners of those assets—should demand better. If “public wealth” was properly measured, managed, and better understood, society as an entire would benefit. But, to assist build robust public finances, this needs professional accountants and modern accounting within the public sector.

If the globe wants growth, it needs bookkeeping and accountants within the public sector.

The global exchange is worth about US $78 trillion, which is roughly similar to the scale of the world economy—or global GDP. By armies of analysts, brokers, investors, regulators, tax authorities, and media, this wealth segment is scrutinized at every moment. Using modern accounting standards refined over the last 800 years, much of the knowledge that’s analyzed is predicated on audited accounts. What has not only enabled capital market development but also the wealth that we all enjoy today, is the event of those accounting standards.

Although the worth of public assets is twice that of world stock markets, or 2x global GDP, in step with estimates from the International fund, it remains unaudited, unsupervised, and unregulated. Even worse, it’s almost entirely unaccounted for. When developing their budgets, most governments largely ignore these assets and, the worth that might be generated from them.

The question, within the best interests of citizens, is are public assets getting used and managed? Sadly, the solution is perhaps not. Better accounting might not guarantee that assets are going to be better managed. But knowing what assets you have got and what they’re worth is a prerequisite for professional management, and increases the percentages for a return back to society—instead of raising taxes.

In fact, what could, across advanced economies, generate annually more revenues than governments receive in corporate tax collections, is the professional management of public assets. This might also multiply the funds available for infrastructure investments or the UN’s Sustainable Development Goals.

Including the value of pension promises made to public sector workers, politicians consistently underestimate, or completely ignore, the worth of public assets and liabilities. Although this is often clearly a recipe for poor governance, if not outright corruption, it’s only rarely heard in political debate. The most reason may well be that this is often about accounting—a topic of limited interest to several politicians.

 

ALSO READ: The Economical Pros and Cons of Rent-To-Own Appliances

 

Furthermore, only 8% of all professional accountants are within the public sector, in line with IFAC, the worldwide organization for the accountancy profession. Directly reflected within the poor quality of knowledge employed by governments in their financial management is the relative dearth of public sector accountants. Flying blind into a storm is what managing financial performance and position without sound information is like. And, the realm where financial information is weakest is asset management.

This doesn’t benefit anyone, since poor or risky accounting practices can shake, and ultimately bring down entire societies. Proper accounting is important for the general public sector—and by proper accounting we mean the kind of accounting that has been utilized in the company sector for hundreds of years.

The reality is that the majority of governments are stuck within the Middle Ages when it involves accounting. Economists whose perspective on the management of public finances is restricted to simple measures of money flows and debt, they need for too long been influenced by. This is often like trying to manage a contemporary corporation using only the knowledge available from the cash transactions recorded within the bank statements. Company accounting requires more complex information than this. This can be equally true of governments.

The proper tool is accrual accounting for managing the financial affairs of a contemporary, highly complex government. A contemporary government needs a distinct mindset, a mindset that will recognize that managing public assets can generate revenues to get hold of public services, fund infrastructure investments, and boost the economy—without raising taxes. This implies shifting the main focus to net worth rather than a spotlight on cash and debt alone, just like in the private sector.

So far, using it as a tool for its budgeting, appropriations, and financial reporting, only New Zealand has introduced modern accounting and integrated its record with the budget. Since the general public sector reforms within the mid-1980s, where most comparable governments like Australia and Canada, or larger countries like the united kingdom and US, have a negative net worth, New Zealand has achieved and maintained significantly positive net worth.

We depend on engineers using modern technology to style and build robust bridges. To create robust public finances, we’d like accountants to use modern accounting systems.

This will reduce the burden on future generations and benefit societies today.

 

Tasks of Politics In A Market Economy

Should politicians intervene directly in the market or not? When it comes to supplying citizens with goods and services in the best possible way, better not.

Should politicians intervene in the market economy?

The majority of economists say that politicians in a market economy rarely have any reason to intervene directly in the market. They should not also pursue employment or social policy goals through direct market intervention.

For many citizens, however, it seems quite desirable and appropriate if politicians try to achieve certain goals. They do this through direct intervention in market processes faster.

Different Tasks Of Politics & Economy

Politics shape your social life. It sets the framework for what you do and what you do not do first and foremost in economic matters.

The market economy has a decisive advantage over all other economic systems. In principle, it allows everyone to gain an advantage for themselves from the given framework conditions.

This individual and social freedom is the engine for innovation, growth and increasing prosperity if the framework conditions allow it.

Politics and economy: Different tasks in the social system

This means that politics and business, which of course also include the banks, have two very different tasks in the social system. Politics sets the framework within which you can move. Individual freedom allows each individual to make the most of it. Each individual does it for himself and ultimately also for society in and for which he works.

London’s Perennial Housing Crisis Driving UK Home Buyers to South East England and East England

While real estate is a major industry of the United Kingdom, the real estate market’s low supply of private houses has made home ownership costly for Britons. The housing problem in the UK has been an issue for years, which the government tried to solve last year by declaring a “stamp duty holiday.” The initiative helped keep the industry afloat at the height of the nation’s pandemic lockdown. The buying trend is still on as many want to take advantage of the low housing loan rates.

The Pandemic Spurred a Home-Buying Spree in the South East England and East England Regions

Apparently, the strategy worked as many residents of COVID-19 hot spots, particularly in London. took to buying houses in b0rroughs located in the South East and East regions of England. Normally, the exodus out of the Greater London Area would have caused a drop in the prices of private houses in London, which made many house hunters hopeful of finding an affordable private home in the city.

Yet contrary to expectations, the demand for private housing in London also increased. Those who had hoped to buy a private home in the Greater London Area were disappointed to find out that the value of London homes had increased by as much 25% when compared to pre-pandemic price values.

After the documentary stamp tax duty holiday ended in September 2021, real estate market data revealed that London properties posted an increased total housing value of £2.4 trillion, surpassing the total values of homes in South East (£1.7 trillion) and East England £1 trillion.

Is the Shortage of Housing Estate in London for Real?

The phenomenal rise in the value of London homes all the more made Britons suspect that some kind of manipulations had taken place to keep the prices of London’s real estate properties high. Since the price of a London home is still not as affordable as many hoped for, landlords and property owners can still keep the high prices of apartment and home rentals high as well.

Home Buyers are Focusing Their Search on South East England and East England’s Private Housing Offers

Housing market experts believe that such conditions will all the more drive buyers to shop for homes in South East England and East England borroughs. Leading real estate market source Zoopla predicts that these regions will be able to sustain the growth of their respective real estate markets in the next five years.

In fact, the Borehamwood Estate Agents of private homes in Hertfordshire in England are currently receiving a lot of requests for property valuation/; a service they provide online at no cost and hustle-free. The trend is that those who have saved enough to pay as equity down-payment for a private home, are paying heed to advice about taking advantage of the current low interest rates on housing loans.

Apparently, their search has led them to Borehamwood, which is only 12 miles away from Charring Cross in London where six travel routes meet. The town being in London’s commuter belt is reachable by train within 25 minutes, making it even more attractive for those work in the capital city.

Borehamwood and its twin b0rrough Elstree gained popularity for being home to the studios of the film and TV industry. In addition, the town is actually a tourist destination spot as most sightseeing tours in the UK include visits to Elstree Studios. TV studios on the other hand, welcome tourists as their live audience.

The greater attraction about Borehamwood as a potential permanent place to live in is the low rates of accommodation; denoting that housing property values are fairly affordable as well.

Importance of Economics and Politics

Dealing with economic matters appears to most as an unnecessary and strenuous and endeavour. The economy forms your daily life in numerous ways whether as a voter, consumer, or employee. Therefore, basic economic knowledge must be part of the common good.

Economics and politics are not always easy to understand. If both levels are interwoven in public discourse as if they were one, it is difficult to understand. In order to make political or economic decisions, an understanding of the relationship between the two aspects is just as necessary. It is as important as the ability to understand and classify available evidence in terms of its relevance.

What is Social Praxis in Political Economy Theory of Mass Media

Social praxis is the unity of though and action. What you believe is what you do. Political economist sees research and action inseparable. Theorist must intervene in light of social anomalies. Political Economic Theory is characterized by three social processes. This process is a starting point in understanding how power and wealth constrains the production, distribution and consumption of media.

  1. Commodification. This is the process of turning goods and services into a marketable product. Media has often been commodified.
  2. Spatialization. These refers to the process of overcoming the constraints of space and time. In business it involves out sourcing labor. This is most evident on how large corporations build factories in other countries to take advantage of cheap labor. Spatialization also refers to the extension of corporate power through acquisition and strategic alliances. It extends a company’s reach to a wider audience and gives them an advantage in distributing their media. Because who owns the company says a lot of what they produce. Political economy theory considers this when interpreting messages.
  3. Structuration. This is based on the view that people make history but not on their own terms. They are forced to function a category that social functions within a category that social institutions have placed. An important activity in structuration is the process of creating Hegenomy. This is defined as a result of a process of transforming contested ideas into a naturalized way of thinking about the world. Political economic theory evaluates how elites dominate the culture, values and ideology of a society. Ceratain norms about social class, race, gender and other social divisions are deeply engrained in the social structure. Political economic theorists must analyze how the media portrays these categories in order to understand societies and address injustice. The importance of these theory is that it encourages us to be reasonably skeptical of the media we consume. It makes us aware of the social forces that shape media and invites us to keep the profit oriented system in check.

Political Economy Theory of Mass Media

What is political economy theory? The name itself gives us a hint. This is an approach to studying media that focuses on the politics and economics of media. It asks the question: How does power and wealth influence our systems of mass media? Political economy theory studies the power relations that influence the production, distribution and consumption of communication resources. In doing so, they shed light on why some messages are emphasized and other down played. This theory shows that corporate influence pervades society. It does not focus on the science and symbols of the text as cultural studies do. Rather it studies how the Government and stock market affect the media that we consume.

This theory has always been used to understand social change in history. The theory also examines the totality of social relations. It holds that the political, economic, social and cultural areas of life are intertwined. This various meet and influence media indifferent ways. Political Economic Theory is guided by moral philosophy. It not only describes the state of society but also encourages people to change their social behavior. With the knowledge of the society’s problem, theorist is driven to fight for democratic issues such as freedom of speech and access to education.

The Effects of Government Regulations to the Economy

Most economy during this pandemic have been struggling hard to recover. Some economies have had different obstacles like red tape that threaten growth. Because of this pandemic different Government in different nation implement new regulations. With new regulations comes bigger bureaucracies. If these regulations get out of control then the economies suffer.

Since this pandemic started many unemployment has been hitting at a high rate. Different government regulations on this problems has a great impact. Different regulations may hinder the solution to this. It would cause more harm than good affecting mostly the economy. The lockdowns has also impacted the economy. Regulations on easing the lockdowns are also taken to consider. These is a burdens on the economy particularly on businesses. It create barriers to job growth and further hampers many fragile economies. If we want to overcome this crisis the Government should get serious on their response toward the virus and pandemic. They should review and polish different regulations being imposed. They should weigh the advantages and disadvantages. They should strengthen oversight and tackle different obstacles seriously.

Political Economy

Political economy is the study of the interaction of politics and economics. Where politics is the study of power and economics, the study of money or it focuses on the creation and distribution of wealth.  It is taking a look at a specific way on how goods and money get distributed within a particular country or between states. Both power and money go together, they are interchangeable.

Key concepts:

  1. Markets. This is defined as what do people buy or sell.
  2. Property. This is the ability to do what you want with an object.
  3. Public Goods. These are things that are diffused to everyone. They usually come from state mechanism.

Different theories of political economy:

  • Liberalism. This is a free market view.
  • Mercantilism. This concept is followed when the State should have the most power in the market and economy.
  • Communism. This concept believes that everyone should have equal amounts of properties. It results to people jointly owning everything.
  • Social Democracy. There is a regulated market. It is a mix of Liberalism and Communism. The Government provides a lot of Social services to make up for the issues in the pure market.

 

Politics and Economy are Inseperable

Economics and Politics are undeniably intertwined. This is true because of the following reasons:

  1. Economics play and depends greatly on Government policy. Economics is largely affected by the Government’s approach and policies. A good example of this the policy on Lassez-faire.
  2. Economic theory and politics influence each other. Forms of government such as Socialism, Communism or Dictatorship has a say on how the economy should ran. Or economically powerful people can also influence and impact the economy by funding. The economy is also being influenced with the politics of the day.

  1. All economic theories contain political value judgements. Economists have different theories on how the economic evolves how market competition works. These differences mainly come from different political judgments. A best example of this is the Pareto Criterion. It is defined when the re-allocation of resources cannot improve conditions for a person or a group without worsening conditions for others.
  2. Power relationships affect the economy.
  •  Structural Power. This power is coming from the imbalances in income and wealth
  • The Power to Dictate within organizations.
  • The power to make people think. Politics can dictate people on what you want them to think.

Housing is a Part of the Economy

Despite a country’s booming economy many people in many nations still do not have a place they can truly call their homes.  At the moment millions of people globally are without a decent place to stay. This figure is very overwhelming that even the biggest housing developers and the government won’t likely to address soon.  The government are coming up with plans to build affordable houses for those who cannot afford. They should make sure however that when building these houses, they should see to it that it is built with quality and meet the standards that would reflect the dream and aspirations of its future owners.  They should tie up with contractors who can provide quality homes in a livable environment.  Housing aside from job creation, business and politics is definitely a part of the economy.

Housing Economy

The Politics in Vaccine Distribution

The pandemic has caused so much in people’s lives globally. So many lives were lost because of the new virus. Many people suffered, millions of people lost their work and livelihood. And yet as the new year enters we are still left uncertain about the pandemic. The pandemic isn’t just yet over. Millions are still at risk and hundreds of thousands more can die from this. We weren’t ready for this. Mankind is very anxious about the vaccine for COVID 19. The announcement of the vaccine coming gave hope to billions of people. All are looking forward to its protection.

The problem we are encountering this new year is its distribution. The politics involved in it is also another problem. This is what faces every nation. Who gets the vaccine first? Is there enough for all the people in the world? Governments are coming up with contingency plans on how to acquire the vaccine. We are not talking of hundreds but millions of vials. Some countries are struggling to raise funds for this. The people in every nation asks, who pays for them? Of course for most nations this will not be given for free. The vaccine is very important so people will be protected. Once the vaccine is our economies around the world will recover. However, we must remember that no vaccine has ever been proven to provide man with complete immunity but still mankind is hoping to have a dose of the vaccine because it gives them hope and this is a realization for everyone that good health is their priority.

Politics And Economics Go Together

There are two vital aspects for the nation to function properly. These are the political and economic aspect of a country. Politics and economic go together. There is no politics without economics and vice versa. A person who can vindicate the greater number of public confidence wins the heart of the majority. He or she eventually becomes a leader gaining power and trust. This leader will uphold all the economic and political policies of that nation. This will greatly depend on him. He will eventually form a government wherein he would appoint people as his advisers in running the nation. Their job is to come up with various economic outline that will help the economy. This leader will have the final say on them. He will then order the members of the government put in effect these various plans. Here we can see how politics makes a great impact on the country’s economy.

The Impact of Natural Disasters to the Economy

Acts of God or natural disasters are events that we do not have control of. Throughout the decades we have experienced economic losses because of disasters and calamities. Because of these calamities, there is potential damage to property and loss of lives. At present we can correlate stronger calamities such as hurricanes due to climate change because of the continuous economic exposure which leads to the abuse of nature. Governments should put more emphasis on this problem. Our leaders should design a strict policy that can control or mitigate the continuous exploitation of our natural resources that can contribute to calamities and disasters with unforeseeable damage and impact on our society.

Through these policies, we can avoid economic losses. Economic losses due to natural disasters have been common in the past decades.

Aside from implementing strict policies about this problem more research is also required on the long-term impacts of calamities and natural disasters.

 

Amazon Remains Strong In The Midst of Weakening Economy Due To The Corona Pandemic

Amazon Struggles to Keep Up With Demand Driven by Coronavirus

While many retailers deal with enormous challenges because of the Corona procedures, there is certainly a single business that is presently doing well – Amazon. For instance, the world’s major online retailer publicized recently that the company might hire one more 75,000 individuals to manage the growing number of consumers. The headline arrived only a month following the business declared that 100,000 new staff will be employed.

As important as these steps are for Amazon, additionally, they stand as proof to a major market change, a disadvantage to smaller merchants. Around the second half of 2019, the US group had grown three times faster than any retail. Amazon did not answer questions about the current development, but in the corona crisis, their business is surely doing good in this time. Now, the speculations arise that only major companies may survive this economic crisis due to the current health crisis.

Foreign Exchange And Its Effects On Domestic And Global Economy

Forex trading is the purchasing or selling of numerous currencies. These currency exchange is carried out by central banks, financial institutions, companies, institutional investors as well as individual traders for a multiplicity of reasons, which includes balancing the markets, making a profit, or enabling international tourism and trade.

Foreign Exchange And The Economy

Foreign exchange is the manner of converting local currency into global banknotes at specific rates of exchange. These dealings present apparent corollaries for the worldwide economy. The rates of foreign exchange influence global trade, flows of capital as well as political sentiment. Before directing to financial conclusions, it is imperative to have a handle on the economic risks linked with forex and globalization.

Identification

The valuations of domestic currency are defined by the foreign exchange rates, wherein it depicts the economic as well as the political status of a nation. Low rates of exchange could indicate political instability and recession. On the other hand, strong rates of exchange frequently indicate positive commercial standing for a specific nation. Exchange rates have a direct bearing on global trade. Low rates of exchange back tourism as well as the export economy. Thereupon, domestic commodities become inexpensive for foreign consumers. However, domestic consumers favor higher rates of exchange. Consumers thenceforth have more buying power to expend on goods that are imported.

Features

Forex rates affect investment funds, or capital flows that move in and out of a nation. Countries with currency values that are quickly weakening are less appealing to foreign investors. Foreigners liquidate their bonds, stocks, as well as real estate, since these are losing buying power corresponding to opposing investments in different countries and currencies. International investors choose to buy investments in nations that have rates of exchange that are stable and rising. Foreigners are more at ease making foreign financial pledges when they feel that price will be upheld as global profits are ultimately converted back into their domestic currency.

Considerations

Forex rates hold significant political effects. Citizens might identify disparaging exchange rates as well as trade imbalances as indications that legislators or politicians who are presently in office are mishandling the economy. Constituencies will then raise a fuss for economic changes as well as changes in management. Politicians or government officials may respond by recommending cuts in domestic tax, while decreeing for import obligations and quotas intended to look after the domestic economy.

Advantages

The methodical distribution of exchange rates over systematized currency markets directs to greater globalization, the incorporation of separate nations, localities and cultures in the global economy. This drift betters the expansion of technological innovations, markets and generates jobs for the worldwide labor pool. It comprises inflation since the amplified competition for occupations and share in the market sets a descending pressure on costs.

Getting a Business Tradelines: Tips and Warnings

Office, Meeting, Business Partners, Cooperation

Definition of Trade line 

A trade line is defined as the account that is listed on a credit report. One account equates to one trade line. But trade line information is provided only by a lender or financial institution to credit-reporting bureaus such as personaltradelines.com. Moreover, these tradelines are sold at wholesale. Basically, trade lines are used to determine consumers’ credit scores and history whether such as user has a positive or negative trade line. This information will then be used to evaluate whether an individual is capable of getting a car loan or a mortgage.

Deeper Definition of Trade line 

As mentioned earlier, a trade line is a record of the behavior of a consumer credit. If you are wondering what details are included in the trade line, it includes the creditor’s account name, a scrambled or truncated account number and the customer’s payment status. You can find in the trade line whether the consumer is paying on time, late or never paid at all. Moreover the debt of the consumer will also reflect on it.

The major purpose of a trade line is to show the payment status, the most important bits of information in a trade line. It provides  the consumer’s loan repayment habits, something that lenders examine carefully when considering a loan application. Negative items such as charge-offs and other collection are also shown in trade lines.

The different types of accounts in trade line are as follows:

  • Installment accounts, such as a car loan or other fixed-payment loan.
  • Mortgage accounts. purchase of real estate property
  • Revolving accounts, such as credit cards or retail cards.
  • Open accounts, on which the buyer pays in full upon the receipt of goods.

Getting Started 

Trade lines are strictly available to legitimate businesses only, so if you are planning to start this kind of business, you must be able to prove that your business is not just something you decided to venture in to in just a very short period of time. You can start by making sure your business plan presents a well-documented road map for operating and growing your business. Register your business with the state and with the Internal Revenue Service and obtain a tax identification

You can request trade line from legitimate vendors and carefully review them before filling out and submitting. It is important to look at the terms of the tradeline, such as the interest rate and if the payments are due in 30 or 60 days from the receipt of an invoice.

SR 22 Insurance Policy : Is It Possible to Find a Cheap Coverage?

When looking for a cheap SR-22 insurance, have awareness that this type of car insurance provides cover for drivers who have been charged in serious DMV cases. Since state governments still want citizens who need to drive again, become able to return to normal lives, the Dept. of Motor Vehicles (DMV) may reinstate their driver license. However, reinstatement approval requires getting an SR-22 insurance coverage, which the insurance provider certifies and submits to the DMV on behalf of the errant driver.

While drivers looking to have their license reinstated are inclined to seek for a cheap SR-22 insurance policy, the premiums that an insurance company imposes depend on the degree of risks involved. While comparing the insurance premiums charged by different providers can help, the nature of the suspension of the driver license is also factored in.

Not all insurance providers offer SR 22 coverage but those who do, determine the insurance rates based on the offending driver’s history in relation to the traffic charges. Below are examples of such violations:

Drunk Driving or Driving Under the Influence of Alcohol(DUI)

If a driver is found guilty of Drunk Driving or DUI, or of Driving While Intoxicated (DWI), the DMV considers the errant driver as a high risk road hazard who can do damage to human lives and property. The insurance premiums can go higher if the offender has been arrested for DUI or DWI several times before. Such cases make an SR-22 car insurance coverage even more important as a legal requirement for the reinstatement of the driver license.

Now if the offender does not own the car he is about to drive in the future, license reinstatement will require the submission of a non-vehicle ownership type of SR-22 car insurance.

Reckless Driving Offense

The traffic offender here had his or her license suspended after being charged with reckless driving or being negligent or unmindful of following traffic safety laws. Again the SR-22 insurance cover for this type of offense depends on the related history, such as frequency, by which the offender was charged.

Driving Without Insurance Coverage

All state governments, except New Hampshire and Virginia require all motorists to have an active car insurance policy when driving their vehicles on public road. Although considered as a minor traffic offense, the SR 22 insurance coverage could cost more if the offense that caused the license suspension involved a serious traffic accident. More so if the accident had resulted in human injury, loss of human lives or major damages to private and public properties.

Actually, the SR-22 insurance is only one of several requirements before a DMV approves the reinstatement of a license. Depending on company regulations, taking and passing a defensive driving test or attending alcohol rehab classes can help reduce the SR-22 insurance rates.

Economy & Business Finance Monitoring

In order to be able to assess the necessary financial resources for your project and to be able to allocate them proficiently, you need expert budget planning.

With every project, regardless of its size and complexity, only a limited amount of resources is available in the company. In order to use these funds precisely, a thoroughly thought-out and well-organized budget plan is not only useful, but even an important prerequisite for the project success of the company.

With advanced budgeting app and finance monitoring, you can have a better means of handling finances.

Economy development: What to pay special attention to during budget planning?

Note the return on investment

With every project you must guarantee that your budget stays realistic, since you also must achieve your return on investment. So it’s important not to underestimate your own profit margin when budgeting.

Open up different sources of finance

It’s always an advantage not to be dependent on just sole investor. Therefore, it is advisable to find out about the current subsidy options. These can be organized not only by the state, but also by the private sector, for example by a foundation.

If you get these grants approved, you can assure every investor that they will not only bear the entire project risk. This increases your negotiating position considerably.

Mint alternative

The employees’ involvement in the company

If it is possible for you, involve your team in the budget planning. The company’s employees as technical experts can contribute important information to the plan with their knowledge and experience, which makes a cost estimate more reliable and more accurate.

If you are part of a big project and cannot take over the budget planning yourself, you should of course delegate. However, it is strongly discouraged to leave the budget planning solely to the bookkeeping department.

Use the right margin of safety

Regardless of how carefully you plan your budget, you can never predict everything in your budget plan. Therefore, a safety margin is important in the company’s budget planning. However, you should not overestimate your expenses. This deters potential clients.

A safety margin of 5% may be acceptable for risk items in budgeting. A better and more common practice is to set a management fee mark-up at 10% of the total budget. This is a legitimate and appropriate item in any budget table.

The Influence of the Economy on the Real Estate Market

image source: Wikimedia Commons

We have long known about the appetite for political power over the real estate market. It’s like that a little around the world. For example, in the United States, the rates of selling a home are greatly affected by the turn of political power as the economy adjusts to the new political system.

The economy is one of the factors that most influences the real estate market and it is necessary to stay aware of the situation to better plan for the months to come.

The changes in the country’s economy are reflected in the most diverse markets, including real estate, which feels every change and always needs to adapt in the long term. Much is said about improving the environment for the new year when it comes to buying a property. Some interest rate drops help to create better expectations and optimistic forecasts for 2018.

The Impact of Inflation on Real Estate

One of the points that best represent the economic factors that can influence the real estate market is inflation. In a downturn phase after 2015 with the high of the crisis, the retraction helps to heat up the business. The target for 2017 is 4.5%, down from 7.2% in 2016 and 10.7% in 2015.

The real estate industry tends to resume growth in the long term, as it is a sector of expensive and more complex goods. It is believed that 2018 will be the year of recovery for this market due to some signs that we could see this year.

Read also: What Does Political Economy Mean?

Falling Interest Rates

Another point this year was the slowdown in interest rates, this helps to increase demand, as buyers feel confident in taking out a loan from the bank. In addition, the raising of the financing ceiling with FGTS resources is a factor that helps to bring more spirit to the buyer, who feels insecure due to unemployment rates.

Banks also provided facilities to assist in the demand for credit for real estate purchases. Nowadays it is easier to find loans with lower interest in order to help those looking for an opportunity to secure their own home. Banks expect that in the long term even more people will seek credit for real estate purposes.

Final Thoughts

The combination of all these economic issues such as falling interest rates and facilitating credit by banks end up reflecting on the market, as home ownership is still the dream of most citizens all over the world. With purchasing power resumed, the population returns to consuming and injecting money from the country’s economy, in addition to seeking to fulfill their desire to own their property. This type of decision is only taken after the feeling of security that people have when they are formally working.

Due to this combination of factors, a more pleasant scenario is expected for next year after two difficult years in the real estate market, which has been gradually recovering in recent semesters.

How Forex Trading Makes An Impact On The Economy?

Forex trading is growing in popularity around the world. More and more people are realizing the benefits of what is known as forex trading. But the question is how do these currency transactions affect the economy?

Forex Trading Defined

Forex trading refers to the buying and selling of foreign exchange. The foreign currency can be exchanged for your own currency, but also for a foreign currency. Trading takes place via electronic platforms or by telephone. Forex brokers allow you to trade online through their trading platforms. Read more about the best forex brokers on Digicoin Center feature.

In the event of currency fluctuations, profits can arise for the trader due to differences in the exchange rate. An example: a rising exchange rate of the euro is foreseeable. Then a trader buys euros in exchange for US dollars, for example at an entry rate of 1.089. The rate now rises to 1.100 the trader can sell his euros profitably and pocket the difference as profit.

What does the exchange rate of a currency depend on?

The value of a currency is always closely related to the economic performance of a country. There are a number of indicators that can show the price development of a currency. The most important indicators that beginners should definitely pay attention to are the following:

  • Employment data
  • Economic data
  • Publications by central banks and other financial institutions

Read also: Forex Trading – Factors That Affect The Forex Market

How does forex trading make an impact on the economy?

Not only does a country’s economy affect forex trading, but vice versa, forex trading also affects the economy. The two issues are closely intertwined and cannot be viewed separately. The complex relationship between the economy and currency rates can be illustrated using a simple example: if the US dollar rate rises, this necessarily means that the euro rate will fall (relatively). Then it will not only be cheaper for Americans to buy euros, but all products from the euro area will also be cheaper. Many people know this effect of exchange rate fluctuations from vacation: if the euro is strong, tourists can exchange it for another currency and look forward to more purchasing power than when the euro is weak.

So is it bad for the economy if the exchange rate falls?

It depends! A falling exchange rate is of course a disadvantage for tourists: they then receive less and less foreign currency for the same amount in euros. Companies that export many products is a declining but beneficial. If the exchange rate of the euro falls, German products become cheaper on the US market, for example. This in turn means that German products have a price advantage on the American market. China, for example, is often accused of keeping the rate of the Chinese currency, the renminbi, artificially low. Why? Because Chinese products can then be bought cheaper worldwide. Germany also benefits from this effect. The German economy, which is very strong in a European comparison, is benefiting from the comparatively low value of the euro.

Why is risk diversification of the investment portfolio important in currency trading?

Anticipating exchange rate developments of a currency is not so easy and even experienced experts find it difficult to make reliable predictions. Therefore, it is always recommended not just to rely on one course, but to spread the risk by dividing investments into a larger portfolio of currencies. Particularly with long-term investments, there is always the risk of unexpected crises that no indicator can capture. Terrorist attacks and natural disasters usually come unexpectedly and can have a significant impact on a currency’s price. To reduce the risk of such events affecting the overall investment, risk should be spread. In the case of very short-term transactions, it can sometimes be an advantage to rely on just one course, but this is really only very rarely the case.

How Do You Earn An Income On Bonds?

A bond is a financial instrument that is issued by a company or government in order to raise money. Bonds are typically used to finance large projects such as building roads and bridges, expanding power grids, and developing new technologies. Bonds are also referred to as fixed income assets, thus they are also called fixed rate bonds because they offer investors a predictable stream of interest payments (i.e., coupon) until the bond matures.

How Do You Earn an Income on Bonds: The Yield on Bonds

This key figure, given as a percentage, gives you the expected annual return. The calculation of the return includes the term of the bond, the amount of interest payments, the purchase price and the repurchase price of the bond. The yield calculation assumes that you hold the bond until maturity. In general, the longer the remaining term and the lower the financial strength of the company, the higher the expected return.

The Face Value of Fixed Income Securities

The face value or nominal value indicates the value at which you usually get your capital back. Usually, many bonds have a face value of 1,000 euros. The nominal value is also the minimum denomination when buying a bond. Other common denominations are 50,000 euros or 100,000 euros. Because of their height, they are not an option for many private investors. It is not uncommon for them to be traded on the stock exchange with little liquidity, so only a few shares are traded.

The Course Value

The market value is the market price of the bond. Unlike shares, it is not given in euros and cents, but as a percentage of the nominal value. If the bond is quoted at around 100 percent, this corresponds exactly to the nominal value. The expert calls this “at par”. If the stock market price is below the nominal value, one speaks of “below par”, otherwise “above par”.

The Maturity of Bonds

Most bonds have a term that is fixed when they are issued and therefore have a fixed repayment date. This makes them a pleasant, plannable investment. The rule applies: the shorter the remaining term, the lower the risk of a bond.

Read also: Government And Its Economic Activity

Risk: Pay Attention To The Rating!

A bond, as you have seen, is, at its core, an exchange-traded loan. The borrower, i.e. the issuer of the bond, and their creditworthiness are therefore of crucial importance. However, you do not have to determine its creditworthiness yourself. Credit and rating agencies do this job for you. They are called Moody’s, Standard & Poor’s, Fitch, or Creditreform. They scrutinize many bond issuers. At the end of their investigation, there is a symbol that is called the rating symbol and ranges from “AAA” to “C” or “D” depending on the agency, with “AAA” meaning excellent creditworthiness and “C” or “D” meaning late payment. Look at the rating before looking at the term, coupon, and yield. It should rather be in the upper range, the so-called “investment grade”.

Buy a Bond Fund or Bond?

It’s not just a matter of taste whether you select bonds yourself or let a fund manager do the work for a fee. Bond funds offer a number of tangible benefits: you are already investing in several bonds with the purchase of a single fund share. This strategy, known as spreading or diversification, lowers your investment risk, especially if the fund manager takes bonds of different maturities, credit ratings, and regions (currencies) into the bond portfolio.

If you are aiming for higher returns, beginners, in particular, should leave the selection and regular adjustments to a fund manager with proven expertise. Be uncompromising when it comes to processing: Buy bond funds from a custodian bank with free account management and low order fees. Also pay attention to the front-end load, which is probably the most important cost factor in fund fees.

Lawyer: Role Of Law In Economic Rise

Law and business are not mutually exclusive.  You can never practice both in isolation. However, the interplay of law and economic growth has always been a fascinating topic for legal researchers and those associated with the legal industry. With the increasing number of growth opportunities, companies are looking for the latest trends and dynamics that will positively impact them. Los Angeles Uber accident attorney must consider these and other questions to the extent legally possible.

Los Angeles Uber accident attorney

Los Angeles Uber accident attorney: Interaction and interdependence between legal and industrial sectors

The integration of the legal profession with other branches facilitates the exchange of knowledge for mutual benefit. Sharing knowledge between different sectors, including the legal sector, benefits everyone as they are able to adopt the best practices followed by each other. This applies in particular to developing and dynamic economies.

In such economies, the legal sector is usually in a state of metamorphosis and is constantly being reinvigorated. Knowledge of the legal implications enables top executives to shape commercial aspects within the four walls of legal admissibility

It is important to understand that lawyers contribute every day to not only making companies sustainable but also helping them to thrive.

Los Angeles Uber accident attorney: The role of the judiciary in shaping the growing economy

Another key issue that you need to outline here is the role of the judiciary. While the frontline political machinery drives an economy, in growing economies, the uncertainties surrounding new and upcoming legislation are often settled by the judiciary. The judiciary plays an important role in shaping how they are going to implement laws.

The political apparatus determines the structure of the legal system of an economy. The judiciary determines how the businesses apply and implement enacted laws. However, lawyers also play an important role in day-to-day business in this area. An economy with a developed legal system and state-of-the-art laws will still struggle to gain a foothold. This can happen if the lawyers and others who have primary responsibility for enforcing the laws are not up to par.

The legal sector has far-reaching economic implications as it is closely linked to the institutional architecture of commerce and trade.  Laws can link economic performance and the functioning of a commercial institutional architecture closely. A stable business structure supported by the legal sector is the key factor for economic development. You can do this by promoting more sophisticated economic activities.

Finance Sector for Business Lawyers

A look at the vitae of many lawyers shows that the classic path via legal clerkship to the judiciary or to a law firm is the most common. However, it does not have to be the only choice of career options for lawyers by far. How about a job as a Banking Lawyer, for example?

If you want to develop yourself in the direction of banking law, you basically have two alternatives in order to be able to work in this field. A lawyer can either choose a law firm that specializes in this area and offers appropriate advice. He can also directly look for a job in the banking industry as a lawyer.

Business Lawyer

Practice early: internship or legal clerkship in a bank

If you decide to start your career in the banking industry, it makes sense to gain experience early on of how work in a bank looks like.

Legal professionals are in demand in this branch. Accordingly, large banks in particular usually offer both internships and traineeships for bank lawyers. The internships in the legal departments of the banks can also be counted as compulsory internships. The reason for this is that a fully qualified lawyer is always at the head of the teams.

During the legal clerkship, young bank lawyers have the opportunity to get to know the in-house department of a bank and how they work. The legal departments of the banks cover all classic banking law areas. Some areas are capital market law, stock corporation law, corporate law and the like. Internal labor law, contract drafting and general commercial law are also part of the competence of the legal department of a bank.

Business lawyer: Big bank, private bank or savings bank?

There are also various options available in the banking sector itself. Large banks offer lawyers entry via trainee programs specially designed for them.

The work here differs from other banks in that the legal departments are very large. Therefore more specialists are needed than in legal departments with fewer employees, where all-rounders are more sought after.

The smaller private banks also offer jobs for lawyers but are more interested in trained lawyers with professional experience.

The legal departments of banks are more likely to look for all-around legal talent than for highly specialized legal advisors. Advisors who are needed in investment banking, for example.

The Economic Effects of Playing at Casinos

Man playing on a laptop

 

Long before the word “online” even existed, the casino sector was the source of a comparatively great amount of revenue for the world’s governments. Now that individuals have the choice of gaming within the comfort of their homes, the rise in revenue flowing into the economy from the gaming sector has been substantial. Whether you wish table games, slots (or 슬롯 as they say in Korea), or perhaps live poker, the net casino sector will have something available to fit your tastes. If you don’t find what you’re searching for in one casino, you’ll simply click over to a different and keep looking.

Of course, gaming is a lot of fun. Nothing is more thrilling than spending some hours ahead of the pc see if Lady Luck is on your side, testing your skills at card games, or trying your hand at the fruit machines. A night of betting can mean an unexpected windfall or perhaps a lousy hand. This, of course, contributes to your own personal home economy but also to the economy of the globe at large. We don’t often give some thought to how the limited things that we enjoy impact the globe around us, but they do! The industry has reported a growth of 5.9%, which equals plus-minus $565 billion in revenue worldwide, in line with recent reports on the gaming sector. Let’s have a look at the consequences that the web gaming industry has on the economy.

USA- Loss of Revenue from Native American Casinos

Owned by First Nations are many casinos in the USA. Since Native American land has become independent from the remainder of the USA, the revenue from these casinos goes straight into the tribe’s economy. This can be very helpful to a number of the poorest and most marginalized communities within the US, namely indigenous ones. These profits go straight back to job creation for those that live to tell the tale of Native American reservations. As an example, the Cherokee Nation has put quite three-quarters of the profits from its casinos into a scheme to fund assistance in helping its sons and daughters gain meaningful and steady employment. Of course, online casinos will have to be run from a location on the place of origin for them to fall into the tribe’s jurisdiction. Many tribes are expanding into the net gaming industry. This can be definitely a plus for the economy of the primary Nations involved but takes away income from the US economy overall.

Europe- Bringing within the money

Currently worth about $53 billion in the European online gaming industry. Experts say that the industry can expect to determine a rate of growth of roughly 11.5% once a year until 2027, which suggests that by that point, the industry is going to be worth $100 billion. All of this revenue is taxable and, as such, brings an implausible amount of cash into the countries in question. Don’t forget that individuals who win in online casinos are taxed thereon amount yet, increasing the revenue stream still further. Given the advance of technology and online gaming sites, moreover as people’s increased desire to remain home instead of venture out into public to play, the industry’s growth isn’t expected to prevent any time soon.

 

ALSO READ: What is Social Praxis in Political Economy Theory of Mass Media

 

Worldwide

There are many fees and costs committed to the web gaming industry, wherever you’re within the world. These include:

  • Paying out bonuses. A bonus is an amount offered to a replacement player in credit or another form, to entice them to play with the casino in question. More players tempted to play means more income for the casino which implies more taxes to support the economy.
  • Software licensing fees. For a web casino, this can be an unavoidable cost. Since nobody knows a way to do everything, casino operators will have to hire providers who specialize in the sort of software that runs casino games and also the website. These providers are taxed on their income which successively contributes to the economy.
  • Hosting fees. The domain that a web casino will care for comes at a cost; server hosting does too. Of course, these service providers contribute to the economy through tax likewise.
  • Taxes and Licensing Fees. Of course, on their income, casinos themselves pay taxes. Varying from country to country and state to state, the economy is bolstered by the license fees that every online casino must pay.

There is much less risk involved in operating an internet casino than there’s in running a physical establishment. Setup costs are much lower since you may not need an oversized workforce or to pay rent for a large casino location. Less financial burden implies that casino operators will have less chance of sinking when times get tough. Citizens filing for bankruptcy or ending up in court or possibly even jail thanks to unpaid costs may be a drain on the economy instead of a lift to that.

While the staff of a median online casino isn’t huge, as we mentioned, there are definitely some jobs that require doing. Setting out a brand new enterprise, whether it’s an internet one or a physical one, means you’re creating job opportunities in whichever country or state you reside in. Naturally, citizens having steady jobs and paying all of their bills and taxes contribute to the economy yet.

A Final Word

What has not reached its full potential yet is the online gaming industry. All signs point to the industry growing at a stimulating rate and for a few times still to return. This suggests more job creation, more taxes, more successful businesses, and employees contribute to their respective economies, which, of course, contributes to the world’s economy. Overall, online gaming’s contribution to the world’s economy may be a positive one.

We hope that this text has been helpful and informative! All of the data within the article was correct at the time of writing, but keep your eye on the financial news in your country for updates as time goes by.

 

What Expertise Does The Digital Economy Require From New Attorneys

A lawyer, if he wants to become an advanced specialist, needs to get a good basic legal education and constantly improve. But becoming a programmer in the hope that it will help you become a successful lawyer is not worth it – both require serious specialization and, accordingly, great efforts. As a result, something may remain unclaimed, or it will not be possible to achieve professional heights in either area. Why be a mediocre lawyer and mediocre programmer – it’s better to become a good specialist in one of these areas.
At the same time, in the digital economy, a lawyer can no longer be completely ignorant of the technical side of the case in which he is engaged. There is a fine line here: there is no need to become a technical specialist, but it is imperative to understand the area of ​​technology in which it is required to protect the rights of an employer or a client. This is the main reason that lawyers at LA Century Law continue to educate themselves on technology to become even better at what they do.

What are the problems of resolving disputes arising in the digital environment?

Problems sometimes arise quite unexpectedly, and sometimes they are expected to some extent. So, about a year ago, when developing a bill on the electronic form of a transaction within the framework of the Digital Economy program, we vigorously discussed the possibility of selling real estate using an electronic digital signature. Some experts believed that this is a completely risk-free zone, while others pointed to the existence of serious risks. The recent high-profile case confirmed the correctness of the latter: the apartment was sold using a digital signature, although the “signer” himself, the owner of the apartment, did not know about it. Now a bill has been submitted to the State Duma aimed at protecting against such risks.

I must say that often controversial situations arising in the digital environment can be resolved with the help of the current legislation. Difficulties are usually caused by the fact that many legal norms, of course, do not directly provide for the possibility of their application to Internet relations. In such circumstances, the interpretation of the legal provisions is required. Unfortunately, many lawyers hope to find prescribed instructions in the law for each life case, and, failing to find it, refer to the existing gaps in the legislation.

Do you think the Internet needs a separate law?

It seems to me that it is necessary to move away from the division into “real” and “virtual”. We really “hang” on the Internet, in the virtual space, but we spend our real-time on this, we work, communicate and even make friends with real people, we buy real goods and get real services, that is, we have quite real relationships, even if they have arisen with the help of information technology.
At the same time, relations on the acquisition of goods or services are regulated by law, the law provides for liability for insulting or “stealing” intellectual property – how important is it that this is done with the help of information technology? There is no reason to develop a separate law for the Internet – it will duplicate existing legislation. But the point, clarifying changes to the current legislation is certainly needed.

How does the master’s program start for future network lawyers?

We proceed from the premise that first of all, our students need to understand the very concept of “digital economy”. Many people perceive this concept only in the context of digitization. But everything is somewhat more complicated: the digital economy is tied to the use of new technologies and technological platforms, such as the Internet of Things, big data, social media, and others. The very emergence of the digital economy is associated with the development of information and telecommunication technologies, which allowed the formation of electronic business and the emergence of an electronic market. Information globalization and digital transformation have led to the establishment of new economic laws that need effective legal support.
A lawyer specializing in digital technologies must understand how to find the right rule in the event of a dispute, he must be able to interpret the law. This will be the main focus of the training.

Why Offshore Investments are Linked to Shady Financial Deals

Offshore investments have again emerged as controversial investment tools used by asset managers in diversifying the investment portfolio of their clients. Although considered as legal forms of investments, offshore holdings first drew controversy when its connection to tax evasion schemes was exposed.

How are Offshore Investments Linked to Shady Financial Transactions?

While investing in equities and other marketable securities offered by financial centres of foreign countries became viable as portfolio diversification options, they also presented legal loopholes. Such loopholes were exploited by asset managers, particularly hedge fund firms, to help their ultra-wealthy clients gain larger amounts of profits.

In 2017, an international investigative report known as the “Panama Papers” exposed the use of offshore investments for tax evasion schemes and other shady deals. They used shell or dummy companies to hide the wealth of ultra-rich investors.

Last week a similar report, dubbed as the “Pandora Papers” revealed that majority of the so-called tax evaders are prominent world political personalities, religious leaders, famous celebrities and known drug dealers

Both reports were based on legal documents that were leaked from offices of law firms handling transactions related to offshore investments. The recent set of leaked documents provided information connecting the dummy or shell corporations to the tax evaders.

Other documents show that most offshore investments were made in the form of high-end real estate properties like mansions and villas located in prime beachfront areas. This is considering that the recent property-buying spree of offshore investors had causes the prices of real estate to increase, particularly in the U.S. After all, real estate properties are highly favored as an investment alternative because they store value that appreciates over time,

The greater revelation this time is that it turned out that many of the tax evaders include important personalities who owned questionably large amounts of wealth invested in offshore holdings. In addition to having unexplained hidden wealth, it became apparent that the political and religious figures have been committing acts of tax evasion. They  been depriving their country millions of tax revenues that governments could use in providing services to their countrymen, especially the members of the underserved sector.

The Report Points to Hedge Funds and Tax Havens as Proponents of Shady Offshore Investment Deals

Based on the types of investment deals revealed by the leaked documents, it became apparent that they were arranged through hedge funds, a type of asset management that caters only to a select and exclusive group of super wealthy people.

Hedge funds work differently as the pooled funds can be placed in almost any type of high-risk investment, including real estates, precious metals and lately digital assets like cryptocurrencies and NFTs. As much as possible, hedge fund managers make sure that their clients will realize substantial profits, since their own revenues as asset managers are in the form of commissions deducted from the investment profits.

This denotes that mutual funds are not involved, since this type of offshore investment is limited to shares of stocks, bonds and short-term placements. Mainly because the pooled money are fairly small sums coming from regular folks looking to earn extra income at higher rates than the savings and time deposit interest rates offered by banks.

While there are mutual funds located in tax havens, mutual funds registered in The Cayman Islands like the, optimize offshore investment earnings by taking advantage of the island’s no-income tax policy. Moreover, mutual fund managers collect revenues based on the yield exceeding the amount of yield promised to investors.

However, the Organisation for Economic Co-operation and Development (OECD) also blames tax havens like The Cayman Islands. This jurisdiction has relaxed policies on offshore investments and in licensing corporate entities. It allows the creation of dummy or shell corporations used in hiding the identities of political and religious figures who have amassed large amounts of questionable hidden wealth.

Stock Market: Support For The Economy

From the point of view of economists, the stock market is developing into an important pillar of the economy. The rally on the stock exchanges is of great importance for the real economy. The upward trend is one of the main reasons that the economic prospects in the USA and Europe have improved.

The development on the stock markets and 해외선물 will lead to a consolidation of the upswing. The upswing is good news for the economy for several reasons. Experience shows that the stock markets are around six months ahead of the real economy. The stock exchanges are a wonderful economic indicator because they anticipate the companies’ better profit expectations. Therefore, you should be optimistic for at least the next six months.

Aplus asset: How does the stock market influence the economy?

The stock market development also influences the development of the real economy. And it does so through several channels.

First, when share prices rise, the wealth of private households that own shares increases. This tends to boost consumer confidence.

Second, it will be easier for companies to get fresh money on the stock exchanges through new issues or capital increases. And banks’ balance sheets will improve when share prices rise. They will then become more courageous when it comes to lending.

And thirdly, there is a psychological effect. Higher share prices lead to a rise in sentiment in the economy as a whole and consumer and company confidence in the future.

Aplus asset

Aplus asset: The role of the stock market in the economy

Many newcomers to the stock market rightly ask themselves what role the stock market in general and stocks in a particular play. For those who have been trading on the stock exchange for a long time, the answer to this question is clear.

The stock exchange is a source of money. And what role does the stock exchange play in economic life? The stock exchange is the capital market, the meeting point for those who want to invest their money in securities and those who want to turn their papers into money. In the overall economic context, the stock exchange functions as a trading venue. It is an important barometer for the state of health of a country or a company.

The Economical Pros and Cons of Rent-To-Own Appliances

Kitchen Appliances

 

If it comes to getting household appliances that are essential, you’ve got two economically advantageous choices. You may either purchase them or lease them. Most contemporary customers are not even aware that there is an option to purchase. Individuals that are conscious wait to lease since they do not know a lot about the procedure. Within the following guide, we talk about the advantages and disadvantages of leasing a refrigerator, washing, or shredder machine so it’s possible to make an educated choice about the situation.

Which Are The Advantages of Leasing?

Finding a washing machine or refrigerator on a lease can be an economical choice, particularly in the event that you want them for a brief time period. Here’s a look at a few of the biggest advantages of the choice:

Low-Cost Up-Front Prices

If you lease an appliance, then you just have to pay a little security deposit and pay the monthly rents within the lease period. This usually means that you don’t have to get a great quantity of money available to receive the best outcomes.

Adaptive

Leasing is a fantastic solution for those that desire the appliance to get temporary usage. By way of instance, if your refrigerator has broken down suddenly along with your in-laws are coming back to stay for a few weeks, then it’s ideal to rent a refrigerator for instant usage. This gives you a while to organize your financial plan and save enough cash to generate an outright buy.

Rent-To-Buy

Should you would like to obtain an appliance farther down the line but can not manage to do this at the moment, the rent-to-buy alternative is perfect for you. This strategy enables tenants to have the appliance they’ve leased several months later on like the rent-to-own Sony PS4 that is has become a very popular option.

Returnable

You are able to go back to the blower and cancel the leasing plan at any moment at a minimal price. By way of instance, if you are unhappy with the merchandise and do not think that it works up to your expectations, then do not be afraid to go back and find the following appliance.

Transferable

Well-established rental businesses make it possible for customers to move their leasing programs to cities that are connected. By way of instance, if you receive a washing machine for lease at Hyderabad and wish to proceed to Bangalore, it is possible to move the leasing program to Bangalore and receive a similar appliance from that town for your new location of residence.

Because you may see, there are numerous distinct benefits of leasing appliances that are essential. All you have to do is select the ideal rental service supplier and select an appliance that works for your requirements.

 

ALSO READ: The Financial Impact of COVID-19 To Canada’s Market

 

Which Are The Disadvantages of Leasing?

While leasing is an excellent alternative for nearly everyone, it will have its own downsides, especially with how today’s economy is doing. Customers should think about their needs and everything in the online supply carefully before they make a determination. Here’s a look at a few of the greatest disadvantages of leasing:

Availability

Leasing has grown remarkably popular through the last few years and many rental businesses are left with sufficient stock for new customers following a couple of months. All appliances are offered on a first come first serve basis and also the most well-known ones are not available on the market for the longterm. By way of instance, a favorite refrigerator size that’s acceptable for many Indian families will not stay on the site for long. Should you locate one in stock, you have to grab this up fast.

Brands and Models

It’s is not simple to discover desirable news on lease sites. As stated earlier, all popular brands and versions become picked up fast. Some customers are made to settle to a new that they do not prefer as other options are out of inventory. Contrary to the current marketplace, you can not just type the model or brand name and locate the ideal match.

Maintenance is Vital

Renters will need to become diligent with their upkeep than regular customers due to the fact that they have to finally reunite their appliance into the business after the rental interval is finished. Many Indians do not serve their pockets as frequently as they need to, that shortens the machine’s lifespan and simplifies its own purpose. Rental firms do supply certified service technicians that will assist you to keep the appliance. You may also become free care service should you lease for over a year or even a comparable period of time.

These are a few of the greatest disadvantages of leasing appliances rather than getting them. It’s very clear that the pros outweigh the disadvantages ordinarily, but if you are certain about the type of appliance you want or what kind you need, leasing may not be the very ideal alternative for you. Nevertheless, leasing is a fantastic alternative for people on a budget and customers using short-term conditions.