Economic Development

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Readers and viewers must know the basic concepts and principles of economic development. After this, will be economic problems and development strategies that is applied in this article. The next part is development policies and programs that has something to do with monetary and fiscal policies in. It will be discovered as a process for an economic planning towards developmental model. Last but not the least, will be the major issues in economic development.

According to Fajardo in his book, "Economic Development defines as a progressive process of improving human conditions such as reduction or elimination of poverty, unemployment, illiteracy, inequality, disease and exploitations. To understand this meaning carefully, it is an interaction of different factors". The example of this is investing a rice harvest per hectare in your designated ranch, there are various inputs that are combined like fertilizers, insecticides, irrigation, technology, and many other things related to this example.

This development is based on the classifications of countries or what categories do they belong? The categories will be either highly developed countries, intermediate countries, or they belong to less developed countries.

It has also a problem like humans. There is a saying, " If there is a problem, there is a solution"

This development will also give information and at the same time enumerated some countries from different continents that gives economic status of how they performed in their gross national product and gross domestic product.

They must have feedbacks of World History because this will be based on their economic status of how does it developed in the past?

After I end this composition of this article, this is just only the beginning of my content in writing the economic development.

Fajardo, Feliciano R. "Economic Development" 3rd ed. Mandaluyong, Metro Manila:National Bookstore 2004.

Truth About Global Economic Crisis: Book Review

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You want to read The Global Economic Crisis The Great Depression of the XXI Century, edited by Michel Chossudovsky and Andrew Gavin Marshall, if you meet these criteria: you welcome information and analysis about critically important issues that come from great thinkers outside the mainstream media and publishing world; you can handle brain pain from detailed and brutally honest revelations; you are willing and able to challenge your own biases and preconceptions to let in new explanations of how the world really functions.

If millions of Americans read this book, we would probably see a far stronger uprising against the political establishment that has refused to severely punish the countless guilty people in the financial, banking and mortgage sectors that brought down the US and global economic system.

This book ties together a large number of factors in twenty chapters that reveal just how corrupt the world has become because of the power of plutocratic, wealthy and corporate interests. From Wall Street corporate boardrooms to the Federal Reserve and other central banks to the US military and NATO, a multitude of threads get woven into a disturbing tapestry of crimes against society that still have not been prosecuted.

This book is truly an instrument of anti-brainwashing. If you are willing to spend serious time reading it, then you surely will become much angrier about the dismal state of the economy that is causing so much pain and suffering to ordinary people worldwide. If you personally have escaped the worst ravages of the economic meltdown, then you will have much more compassion for those severely affected.

In all honesty, if the current global economic crisis has made you angry, pessimistic, fearful, paranoid, despairing and worse, then this book will most likely exacerbate all such feelings. By revealing still more connections, implications and causes, this book will motivate you to do anything you can to fight the corporate, plutocratic forces devastating the lives of ordinary people. If you already have little confidence in government, it will only make things worse. Does all this mean you should avoid reading it? Absolutely not.

Here are a few statements from the book that resonated with me and that you can use to decide whether the general philosophic orientation of it is compatible with your views:

"Wall Street's Ponzi scheme was used to manipulate the market and transfer billions of dollars into the pockets of banksters."

"Government rescue packages around the world are corporatist in their very nature, as they save the capitalists at the expense of the people."

"The global political economy is being transformed into a global government structure at the crossroads of a major financial crisis."

Just gin up the courage to read it, get out several color markers to highlight passages and expand your knowledge to overcome all the propaganda constantly being hurled at you. We need more citizen unrest to energize more public protests to overthrow the powers that have corrupted and perverted our government. A key voice in the mainstream media that is in sync with the painful messages in this book is Dylan Ratigan who has a terrific daily show on MSNBC. He too should read this timely book.

Twin Falls, Gooding, Jerome, ID, and Regional Economic Outlook for 2005

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Twin Falls Economic Report done by me; Twin Falls, ID has potential for additional car washes, Detail Centers and mobile washing units. Twin Falls has enough water in their reservoirs to make it through the Summer for farmers and agriculture industries. Mike BuRec said recently that even if this winter has a snow pack of 20 feet we will not be back to normal levels. American Falls is at only 14% capacity. Palisades is at 12% and Jackson Lake is at 65%, but remember fires take water too. Water in the rivers and reservoirs is important for many reasons, and realize that 2/3 of all fresh trout worldwide come from Magic Valley South Central Idaho and Snake River. The Shoshone Falls are 212 feet high,

[http://www.waterfallsnorthwest.com/waterfa...tail.php?id=864]

higher than Niagara Falls and has often been called the Niagara Falls of the West. If water situations get too bad and not adequate snow pack in 03-04. We had heard of talk from David McAlindin of the City of Twin Falls Economic Development Dept.

http://www.idoc.state.id.us/idcomm/profile...s/TwinFalls.pdf

that he felt comfortable that the water situation is safe and supply good for businesses. They are working hard to help diversify the industries and recruit non-agriculture, cleaner industries. The region grows all kinds of important food items. Sugar Beets, Potatoes, Dairy, Alphalfa, Sheep, Beef, Hay, Grain, Wine, Beans, Wheat, barley, Sweet Corn, Grass Seed, Oats. They need the water. The supply is said to be better than was predicted or feared and that there is more than enough for summer, but this leaves little to spare in case of a mild winter.

The water supply contains arsenic, from natural erosion and also from previous chip manufacturing, Barium, Chromium, Fluoride and Nitrate from excessive fertilizer run off. These are at present levels not in violation, but the NPDES permitting is going into harsher BMPs and enforcement and has caused a few companies, which do food processing to be unable to get permits, costing future jobs; Glandia Foods, Inc. in Gooding.

The local Senators are working on Ethanol to help out and that initiative could be great for ID. McDonalds has been hit by economy and adverse PR from that Bull shit law suit in Canada about people getting fat from eating at Mickey Ds. Recently McDonalds has also called for lessening of Antibiotics, steroids and other growth hormones, which is a little bit of an issue for farmers, since right now with the Beef, Mad Cow, moratorium in Canada some of those cattle come from ID as well as the milk and ID is a huge Dairy State in the Southern area. Learn about the importance of the Dairy industry in the US and in Southern ID;

[http://www.dairybusiness.com/links.htm] .

Also hurt by the economy and fewer people going out to eat at QSRs, Restaurants are Kraft Foods, McCain Foods (125 people laid off), J.R. Simplot, which closed the Heyburn potato plant and laid off another 50 people at another processing plant. These companies collectively laying off a total of 600 people in the region. Also blamed are the war in Iraq and lessened travel. Paper is a big water user also and Boise Cascade has had other issues with economic issues. Dairy is up about 6-10% over the last year why? Could it be the increase in Starbucks (6000 plus locations) and the cr?me and milk in the Frappachinos using milk? Yes some is. Also of worry is the NM Case law regarding the minnows and Rio Grande and Heron reservoir, such an issue with low water levels in Idaho would be the same as the Sarbain Oxley issues in the Corporate World, it would be catastrophic for agriculture in South Central Idaho. But all in all things have been good and have had a net gain even with the bad news. Dell has hired 700 people in nine months in Twin Falls. Also hiring have been Home Depot. We talked to a fiber optic multi-plex line installer who could not seem to get a job in his profession and therefore Home Depot gave him a lower level job at $12.00 per hour.

A waste of brain capacity no doubt but certainly enough to live with the cost of living in Twin Falls which is low due to power and water prices really inexpensive. Twin Falls, Jerome and Gooding had substantial growth in housing. One thing that may hurt the area is the move to try to get seniors out of their cars. Elderly are super worried about losing their drivers licensing, it can be a traumatic experience rivaling a lost loved one, meaning their freedom is gone, some would rather just die, it is that serious as I have discussed with many seasoned seniors. They will not be moving into the Gooding Golf Course areas if this persists. But the area is growing. A few of the outskirt cities are not fairing as well. Burley had a recent “Crazy Days” and Regatta Jet Boat Races, which is a good tourist draw to help locals, non-profits and retailers. All in all we saw a lot of good stuff; ISU-Idaho State University is putting in a 50K dollar nursing facility. Which will employ many people. Solo Cup employed an additional 68 people after earlier in the year laying off 100 people. West Farm added 27 people. Davisco hired 10 workers on Monday. Hamilton Manufacturing is hiring 30 additional workers, but they may have a power problem if prices increase?

Teton Wireless is setting up Satellite to WiFi high speed Internet Networks with points throughout the area to help increase the clean industry companies to the area. Kodiak Northwest has got a new snow-removal innovation. And we found many interesting as heck micro market niche manufacturers such as; Golf Swing Aids, Spider Cultivator, Beet Pulp Cattle feed, Plastic Calf Cottages, Yo-yos (seriously, that’s where they make em’), Dome Awnings for homes, Fish Pumps, Basque Smoked Chorizo Sausage (and it is good too), Foam Boxes for Fish, Baler Twine, etc. So there are some strong niches that are helping the area. The Sea Food industry has had a bit of discounting due to the slowing in restaurants, but the Sushi is not any fresher lately. This has hurt the Fresh Trout industry, trout are in nearly all rivers and lakes in ID as well as those, which process the fish in the area. The Local Chamber of Commerce in Twin Falls had done a tremendous job in their recent Hot August Night non-profit fair, where they auctioned a Jeep off, as they profiled local businesses. The Chamber cares about local small businesses. Alamlgated Sugar is buying more 129,000 pound trucks. S and G Produce is Building Warehouses and expanding, over 10% of all the worlds sugar comes from Southern ID. Sugar Beets grow extremely well in ID, better than most anywhere. Gooding also gets in on the non-profit community efforts with events such as the huge “Spuds Festivals.” Wendell and Jerome has had much growth along I-84 than the towns like Buhl, Filer, Castleford, Hagerman.

One issue hurting the region is the Beef import Taxes by the Japanese and things might get tough and they are worried about Mad Cow if it comes to the US. We Japan to knock that off right now and possibly increase tariffs on something they sell us. Meanwhile lots of debate on the WTO issues of genetically modified crops. Super Corn is a good deal for the world. These issues with genetically modified foods and possibly modifying wild weeds into killer weeds is not a good debate since we are talking about corn, not mountain grown Sun Flowers, Pumpkins, Squash, Blue Berries, Cranberry which is grown near native vegetations. We are not talking about rice. They are already growing it all over the world anyway. And we have already modified crops of all types by cross breeding, same thing just slower in number of generations. Hell we modify people the same way by our own “Melting Pot.” Mixing Asian, Hispanic and Middle Easterners in Los Angeles? What’s the difference, Arthur C Clark predicts in his book “3001” we will all be looking quite Asian, which is probably correct seeing as this is how things are going with 3.5 Billion Chinese? The EU and 15 nations are developing criteria and it will probably be where people or consumers have a choice and we will see what they buy? Guaranteed genetically modified will win, people like full fresh looking vegetables and fruit. These issues are putting things in Southern ID at a wait and see point and causing issues with capitalization.

Even so Twin Falls area has had a net gain in jobs, which are non-agriculture. 3750 people went back to work and 3440 lost their jobs in 2003 net gain of 210. It is a slow go, but things are picking up. The increase is mostly due to growth and construction, most of which is box stores in the Twin Falls and the new home construction in Jerome and Gooding. In Pocatello the steel plant laid off 40 people and we are seeing this throughout the North West; Steel Plant Closes in OR.

We are noticing some good downtown renovation on Main street in Twin Falls. On the “Messer Block” they won an award for dedication to Historic preservation. As you know we are excited to see downtown areas revitalize and bring people back to the community and a place to talk and the attitude of hometown meetings seems to be done in conversations with locals and therefore more power to the people and more reasonable and less linear decision making like in the suburbs.

There is a bit of a drug problem there which ranges from 18-40 and has to do with Crystal Meth. But they seem to have a handle on it with a new drug court program to get people o break the addictions, which seems to be working and gets people back to work. Fairly good success rate and better than prisons which is also a big employer outside of Boise area. 86% of the people in that program where between 21-40 and were there for substance abuses with Meth. Others include Weed, LSD, Heroin, Mushrooms, Cocaine, Ecstasy and three time drunk drivers. One person interviewed by the local newspaper said he had a construction job and was back on the right track. Downtown Twin Falls is a bummer to navigate if you are new to the area because if you are looking for a location on Second and Second Street, it could be one of seven corners? Ouch. Even the older locals laughed when the city council wanted to therefore change all the names after the founding fathers of the town and current city leadership? Typical. Either way it is a tough deal, luckily the diagonal streets are not in abundance. Twin Falls has 64,000 population, Jerome 18,400, Gooding 14,000. .

Many cities such as Burley, Burl and others in the area have a zero or negative growth rate. Twin Falls 1.9%, Jerome 1%, Gooding hard to say, guessing 1.6%. The jobs in the area seem to be Retail, services, Farm and Ag and then Professional in that order. White people make up 89%, and the population is just slightly older than in Nampa or Boise and more similar to Lewiston and Pocatello; 45-65 age groups make up 20.9% of population. We also found Carl’s Pressure Washing Supplies in Idaho Falls a superb vendor for assistance and a Landa Steam Cleaner Dealer also.

As far as tourism the Falls are worth seeing and draw in some 530,000 visitors to stay for the day and spend money each year. The major employers we found were The Sugar company with 425 people and growing (literally), Circle A Construction 325, Clear Springs foods 430, Dell 700, Independent Meat 216, Glandia Foods 430, Jerome Cheese 150, Lamb Weston 850, Magic Valley Medical Center 1115, Seastrom Manufacturing 170, Seneca Foods 200, Spears 275, Solo Cup 115. All in all the area has the employment base to drive a strong middle class as this economy continues its climb to a rebounding and strong pounding recovery.

"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/. Lance is an online writer in retirement.

Book Review - The Economic Institutions Of Capitalism By Oliver Williamson

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In this book, Williamson presents a refined and elaborated version of his transaction cost theory that he had first outlined in his 1975 book Markets and Hierarchies: Analysis and Anti-trust Implications. His book attempts to systematically examine those economic issues that classical economic theory simply assumes away. The classical economics believes that markets are perfect, and if they are not then the action to remove market failures needs to be initiated. Williamson, on the other hand, focuses on these economic issues that are acknowledged to be widely prevalent in any economic system. "If complexity is deep in the nature of things economic then that ought to be acknowledged rather than suppressed. An equilibrium approach to economics is thus preliminary to the study of main issues (Hayek on P8)." This book, then, is a scrutiny of such economic phenomenon as market structures, monopolies, anti-trust policies, labor policies, public utility regulation, vertical integration and other economic institutions that have traditionally been neglected by the economic theory.

His basic proposition that most of us are familiar with by now is that the transaction costs should be treated as a fundamental unit of analysis for understanding such issues. Drawing on three streams of research- economics, organization theory and contract law, he repeatedly highlights the need to consider the governance (or transaction) costs. "Rather than characterize the firm as a production function, transaction cost economics maintains that the firm is more usefully regarded as a governance structure (P13)." While his basic argument appeared sound and plausible, I got an impression that Williamson attributed more to transaction costs than it deserved. Why should we regard only governance costs? Why should we think that the firm is only a governance structure? In other words, in my view, instead of correcting an existing flaw in the theory, he seems to be, to borrow the stock market jargon, proposing an over-correction. The field would be better off considering a cost function that combines both production and governance costs or at least choosing the concept based on the specific requirements of the situation or problem at hand.

Having said that, let's now delve into the foundations of the transaction cost economics which is first three chapters in the book. Until this book, Williamson considered opportunism, bounded rationality, frequency and uncertainty to be the building blocks of TCE. However, in this book, he rightly puts forth asset specificity alongside opportunism and bounded rationality as the three legs of TCE. "Any attempt to deal seriously with the study of economic organization must come to terms with the combined ramifications of bounded rationality and opportunism in conjunction with a condition of asset specificity" (P42), which is assumed to be the most critical dimension of TCE (P30). Without asset specificity, markets are believed to be in a competitive world even if people are opportunistic and rationally bounded. This is because buyers and sellers can freely move between market players.

In contrast, uncertainty and frequency drop down a tad bit in the scheme of things. Now, they are supposed to be meaningful in presence of first three elements only. Conceptually, this makes a lot of sense. Take for example, if market players are uncertain about the outcomes, but they believe in the fairness of the parties to contract, the market mechanism would be adequate to deal with all the contingencies since the players would share equitably in the profits. However, we understand that such a behavioral assumption would be wrong since opportunism and bounded rationality are common behavioral traits. What intrigues me, albeit, is that if they are such common traits, then why they should even be made variables in the model. After all, a variable that doesn't vary is no variable at all. It is not surprisingly, therefore, to see most literature to refer only to asset specificity, uncertainty and frequency as the three pillars of TCE. Williamson himself seems to acknowledge this in a subsequent chapter when he mentions that "principal dimensions for describing transactions are frequency, uncertainty and asset specificity (P242)."

After outlaying his conception of economic fundamentals, Williamson proceeds on to explain the boundaries of firm, which is to say what transactions will take place in market and what within the hierarchically organized structures. In his opinion, if the expected costs or risk of transacting in a marketplace are higher than the cost of organizing the functions internally, then such transactions will take place within the firm. If we ignore his exaggerated claims, this is indeed novel and useful approach at looking the firm size and boundaries. No longer is the size of firm held irrelevant as is the case in classical economics. No longer is it believed that the firms will operate at marginal cost whether they produce internally or buy externally. It opens up a can of worms that classical economics under its perfect market and equilibrium economics assumptions puts aside as aberrations. This is a welcome change in the approach to the study of industrial economics.

Next, Williamson moves on to the main theme of the book: providing alternative explanations vertical integration, mergers and monopolies, and joining issues with anti-trust enforcements. He believes that vertical integration results not because of technological determinism or a desire for monopolistic power but from a pragmatic desire to economize on transaction costs. In the similar vein, he contends that non-standard contracting practices such as long-term contracts are not monopolistic practices, but perfectly justifiable attempts at minimizing transaction costs. Further, he attributes such decisions "to a condition of asset specificity (P86)" since asset specificity in conjunction with uncertainty "makes it more imperative to organize transactions within the governance structure that have the capacity to work things out (P79)." The author makes a persuasive case for five out of six hypotheses on the boundaries of firm. However, his fifth hypothesis that claims that "firms will never integrate for production reasons alone" seems a little far-stretched. The fact that some firms organize for efficiency reasons doesn't and can't automatically preclude the fact that some firms organize for monopolistic or technological reasons. Once again, the author's case would have been better served by refraining from such overstatements.

Next, Williamson turns his attention to analysis of such arrangements as can neither be classified as market contracts nor as hierarchical structures, but fall somewhere in between. Also known as hybrid structures, these include credible commitments, joint ventures, relational contracting, hostage models, reciprocal arrangements, and network relationships. His main claim is that even when such arrangements appear to be exercise of monopolistic power, they may be justifiable from transaction cost perspective. "A comparative institutional assessment of contractual alternatives discloses that efficiency purposes are often served by hostages and it is in the mutual interest of the parties to achieve that result. Not only can producers be induced to invest in the mutual interest of the parties to invest in the most efficient technology, but buyers can be induced to take delivery whenever demand realizations exceed marginal cost." Interesting proposition, but it doesn't explain the impact on the hostage (e.g. P&G) if the monopoly (e.g. Wal-Mart) decides to dump it! His second main claim derives from Coase's 1960 article on problem of social cost. Recall Coase's claim that when people are left to bargain among themselves, most economic externalities can be better resolved than when courts or other non-market interventions take place. Williamson develops on this proposition and claims that parties to a contract don't normally take recourse to courts, but try to use "private ordering" to resolve their disputes. I would presume this would chiefly be out of concern for future business relations.

Let's wrap up this review with a summary of strengths and weaknesses. For the strengths, I will let the Williamson speak for himself. To quote him,
"As compared with other approaches to the study of economic organizations, transaction cost economics (1) is more micro-analytic (2) is more self-conscious about its behavioral assumptions (3) introduces and develops the economic importance of asset specificity (4) relies more on comparative institutional analysis (5) regards the business firm as a governance structure rather than as a production function and (6) places greater weight on the ex-post institutions of the contract, with special emphasis on private ordering as compared with court ordering."
-Williamson, P387

While the theory is conceptually persuasive and logically sound, a principal weakness of transaction cost analysis lies in its post-facto nature of analysis. Notwithstanding Williamson's superb efforts, it has been rather difficult to define it in a way that it can be measured and tested. The theory in its current formulation continues to be plagued with a criticism that it's tautological in nature, after all ex-post facto any system can be shown to be economizing on transaction cost or at least that it will be eventually replaced if it doesn't. Therefore, transaction cost economics needs to find variables with predictive powers.

Williamson mentions three limitations of his work- its crude form, instrumentalism, and incompleteness. To me, these appeared more to be challenges for future research rather than any weaknesses in the theory. Besides occasional excessive enthusiasm and exaggerations and the difficulty in operationalization of the concept, a major challenge in reading this book is to be prepared to learn a new language! Williamson's choice of words lives a reader with no less an impression.

Overall, Williamson does a superb job in developing the transaction cost economics that had first appeared in Coase's 1937 article 'nature of firm', but had been left untouched until this work because of difficulties in operationalization and empirical testing. Williamson succeeded in overcoming most of these challenges and it is for the future researchers to meet the rest.

Reference:

Williamson, Oliver. The Economic Institutions of Capitalism. 1st. New York: The Free Press, 1985.

Punit Arora is a research scholar on management and public policy.

Economic Development in Israel

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Israel's economy has grown rapidly at an average rate of about ten percent annually, in spite of poor natural resources.

The modern economic growth of Israel is not a mirage in the desert. It is real and it is a product of great determination and untold sacrifices of its people in building their own nation.

This nation is now a modern, democratic, and industrial state. It is basically an urban society. This means that the phenomenal economic success of Israel has been achieved despite thousands of years of persecutions and invasions by the Assyrians, Babylonians, Romans, and Germans.

In manufacturing sector, The Tel-Aviv-Yafo area is Israel's major manufacturing center. It has over half of Israel's factories. They had to import large amounts of equipment and raw materials. As a result, the nations imports greatly exceed exports in value. Income from various sources makes up the difference. These source include grants and loans from other countries, and income from tourists.They have also chemicals, clothing and textiles, finished diamonds, machinery, metals, processed foods, transportation equipment, wood products.

In agricultural sector, Israeli farmers produce about three-fourths of their country's food. Exported foods cover the cost of importing the rest. The chief farm products include oranges and other citrus fruits, and eggs, milk, and poultry. Other important products are cotton, livestock, sugar beets, vegetables, and wheat.

The Israelites traveled in the desert for 40 years. Moses became the Prince of Egypt although he discovered that he was an Israelite.

At present, the Promise Land or Land of Israel is a great nation. God has indeed fulfilled his promise to Abraham, and later on to the children of Israel. The enemies of the Land of Israel have destroyed many time its people and achievements.

I myself as the author of this article before it will be my book later on.

Jubilee! Church and Community Support For Local Economic Growth in a Book That Matters to All of Us

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Book Review - Flat World, Big Gaps - Economic Liberalization, Globalization, Poverty and Inequality

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The position advanced by the authors of this book represent a shift from the dominant view in neo-liberal economic circles that economic liberalization and globalization are good for economic growth, poverty alleviation and reducing inequality in society. The authors argue that instead of closing the gaps created by poverty and inequality between countries and within societies, economic liberalization and globalization have made the situation worse. To substantiate their arguments, the authors draw richly from various case studies ranging from Eastern Europe, Latin America, Middle East, East Asia to Africa. The plethora of case studies presented makes this book unique, and exciting to read as it offers the reader the opportunity to search for the evidence themselves to test the validity of the arguments posited. Furthermore, the inclusion of a useful list of tables and figures in the beginning of the book makes it easy to find information that the reader may be urgently looking for a specific use without having to browse through the pages e.g. rates of poverty per region, global Gini coefficients and other useful information.

The book shows that contrary to conventional neo-liberal wisdom that globalization creates opportunities and opens market for countries; it aggravates inequality which the authors attribute to inter-national (globalization) rather than intra-national disparities. The book further shows that the advent of globalization has not brought any improvement in terms of addressing inequality and poverty rates, instead the conditions appear to have worsened. Countries' commitment to social spending has been negatively affected as a result of slow economic growth associated with globalization.

Avoiding being trapped in theoretical deliberations, this book presents a realistic picture of a world which is supported by hard facts on the impact of economic liberalization and globalization. Worth noting is that the issues that the books raise are not necessarily new as other authors have raised them before. However, this book goes a step further to present comprehensive evidence from a myriad of authors. The book therefore gives the reader a sanctuary from which he/she can critical reflect on the developments in the world today without being clouded by neo-liberal propaganda which blindly accepts that economic liberalization and globalization are good for development and creating an equal world. The recent anti-globalization movements throughout the world symbolizes a rise of a giant wave of dissatisfaction among the economical marginalized.

Finally, it is clear that although globalization may have created a world with integrated systems which makes it easier for people to interact and conduct business, it has however created gaps in terms of poverty and inequality. In other words, economic liberalization and globalization has done nothing to close the gaps but instead they have 'globalize inequality'. It is a source worth reading, especially for those who want to understand the impact of globalization and economic liberalization on poverty and inequality.

Economic Development in Singapore

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Singapore's history is one of riches and romance spice trading and piracy, colonialism and growth. In the 7th century, she was the Temasek, the trading center of Sumatra's ancient Srivijaya empire.

In 1963, Singapore was part of a political and economic alliance formed between the Federation of Malaya, Sarawak and North Borneo which is now Sabah under the nation of Malaysia. This alliance, proposed by the Malayan Prime Minister Tunku Abdul Rahman, was called Malaysia, and proved to be short-lived.

In 1965, Singapore separated from the Malaysian Federation to become an independent republic. Over 45 years, Singapore has relentlessly pursued the goal of becoming Asia's Pre-eminent center for tourism, trade and finance, by developing education and technical training programs, investment strategies, aviation and environmental policies.

Now the small island republic of only 633 square kilometers, boasts the world's busiest port and an airport served by over 70 of the world's major airlines, serving more than 21 million airline passengers year. This diamond-shaped island is only 224 square miles with the population of 6 million.

As a major tourist destination, Singapore welcomes an average of 12,000 visitors each day.

Singapore has a highly developed market-based economy that depends heavily on exports and refining imported goods, especially in manufacturing, electronics, petroleum refining, mechanical engineering and biomedical science sectors which could in the website in Wikipedia.

This nation is a good example of model urban planning and a former colony of Great Britain, it is a tiny city state. It is a member of Association of Southeast Asian Nation or known as ASEAN. Singapore is a major international hub in whole Asia, it is positioned on many sea and air trade routes.

Slum areas were eliminated and the urban planners have been knowledgeable about the planning experiences in other parts of the world especially in Western Cities.

It is hoped that major cities in the Philippines such as Manila, Cebu, and Davao can learn a lesson from Singapore.

Economic Development in the Philippines

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At present, former President Gloria Macapagal Arroyo is leaving her position, this time, it will be another chapter. Today it is President Benigno "Noynoy" Aquino who is the 15th President of the Republic of the Philippines that takes over the economic development of this nation... Although there are many issues to be tackle when we are dealing with economic development.

This development is based on the aspects where they belong to our country.

The economic aspect there is based on the purchasing power of people while social aspects is based on life expectancy at birth and adult literacy which is known as educational attainment.

The question still exist in the nation's community development.The way we see it, why do most Filipinos choose to leave their homeland and live and work elsewhere?

Based on my findings and observations including opinions here is what I discover.

First, I found out that when they apply jobs after their graduation, it was resulted to lack of good-paying jobs because there are more job opportunities abroad and the standard of living is better in most countries than in the Philippines. Most of all, the salary is much higher in other countries which is true in terms of actual job.

Second, the fulfillment of the dreams because most Filipino people choose to leave their homeland and live and work elsewhere because they want to fulfill a childhood dream.

Third, there is a feeling of desperation because the Philippines compare to well-developed countries is backward in many ways and seems hopeless in getting away from a culture of corruption that most Filipinos want to leave the land of their birth to work and live in other countries where they could find peace and prosperity.

Before I end this article, the recommendation for this issue is the Filipinos will develop as long as there is no corruption in the society because it affects the future of Filipino people.

Corruption must be eliminate at all cost and we don't need to borrow money from other countries in order to avoid foreign debts to other countries.

I hope the present Aquino administration in year 2010 will fulfill his dreams to the Filipino people in order to improve the economic development.

New Economic Platform - More Than Analysis

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In the next 20 years, you may get bored seeing more and more books analyzing the effects of the current economic crisis and what brought it on.

But, at the very beginning of this financial crisis, I've found the first book to advocate a new financial platform and address the biggest problem: adding more jobs and restoring worldwide financial stability.

The book didn't just suddenly appear as an analysis of the world's economic crisis. It has been stored in the brain vault of Leonard S. Johnson for more than 5 years. He has been tossing around ideas, coming up with new approaches and creating new kinds of thought for that entire time. And this was long before this financial crisis put the world on its collective knees. It was now time to come to the aid of a crumbling financial world.

That's when Johnson decided it was time to give the world a needed answer to deal with these effects of the economic crisis with his innovative book "The Bank for International Ideas." Johnson has based his book entirely on taking intellectual capital to intellectual property. He shows how to use the book's premise to create a new financial order based on worldwide innovative ideas that become businesses, scientific projects or organizations.

"The Bank for International Ideas" isn't a book of how to merely get banks to support and fund new ideas. The fact is banks are not doing that to the degree we have known in the past. BII is a complete financial platform which allows anyone in the world to submit ideas to the bank.

The process starts with the review committee. The committee, a noteworthy group of peers, decides if the idea is worthy and valid. If so, the bank actually issues credits which are then redeemed in currency in three parts: 33%, 33% and 34% totally 100%.

This means BII allows the innovator to make money on the idea while searching for investors, investment money, funding and mentor involvement. There's nothing to pay back unlike a usual bank transaction. The individual is actually paid for the idea. That's new in the world of finance. And good news for the idea-maker.

Johnson believes the world is no longer going to be run by the current skilled jobs. He believes true financial stability will be led by innovators who create areas of new job categories, not simply the skilled ones that we have known.

Johnson has created "The Bank for International Ideas" book to become the financial handbook of the upcoming new era of finance. The result is: It isn't the end-all answer to analyzing the effects of the financial crisis. It is the end-all book to the beginning of the new phase of finance in the world.

Unlike the blow-hards that puff themselves up to tell the world how they would do or would've things, Johnson has a truly remarkable way to make the entire world a better place financially.

I have also found something else he's done. He's created a 5-part YouTube explanation of the financial platform and how it works. So, you can absorb the financial concept before you get the book and delve into the details.

It just gets better and better.

An Evaluation Framework - Economic Policy and Human Rights by Radhika Balakrishnan and Diane Elson

Economic Policy and Human Rights by Radhika Balakrishnan and Diane Elson apparently declares an intention to compare and contrast fiscal and monetary policy, public expenditure consequences, taxation, trade policy and pension reform in Mexico and the United States of America. The choice of countries is justified on several levels: they are of comparable size, differ in level of development, contrast in governmental approaches and, crucially, are both signatories of NAFTA, the North American Free Trade Agreement which, itself, suggests a commonality in certain policy areas. At the outset, the authors declare that the neoliberal economic assumptions that have dominated policy choice for thirty years have not worked, ostensibly because their main result has been the current crisis.

The authors thus attempt to illustrate this claim by examining a range of social, employment and economic indicators to assess the impact of the current paradigm on particular groups within both Mexico and the United States. But Balakrishnan and Elson also declare the intention of doing much more than this, in claiming that the framework they adopt could become transferable to other places and contexts. Their choice of framework appears to achieve exactly what they intend, and it does so quite spectacularly. And it is a position that could have benefited my own work a couple of decades ago, if only it had then existed.

My own research on education's role in Philippine development found that increased use of market forces and privatisation in an education system already heavily reliant on the private sector produced distortions that undermined some of education's potential and desired objectives. After the debt decade of the 1980s, increased reliance on market forces in Philippine education placed most high quality educational experience beyond the reach of anyone but the economic elite. And yet, declared policy stated that the promotion greater equality was one of the education system's explicit goals. In the future, work intending to identify such contradiction will benefit from employing the universal reference point of the transferable framework identified in Balakrishnan and Elson's superb study.

The authors begin with a short discussion of the Universal Declaration on Human Rights. Importantly, the rather general goals that this advises have been rendered more specific by subsequent declarations. And, by signing up to these, governments - presumably - declare their desire to see the declared goals achieved, both at home and abroad. Such general aims have thus become more specifically objectified via the Convention on the Elimination of All Forms of Racial Discrimination, the International Covenant on Civil and Political Rights, the International Covenant on Economic, Social and Cultural Rights and the Covenant on the Elimination of All Forms of Discrimination Against Women. Thus policy objectives, if not timetables for their achievement, in the areas of race, gender, employment and several other areas can be specifically identified as having been espoused by governments because they have willingly signed up to these treaties, even though that might have been prompted more by political expediency than commitment.

Using these objectives as a framework for evaluation, the book's individual papers conduct a near-forensic examination of a range of Mexico's and the USA's recent economic and social policies in the specified areas in order to examine whether the agreed objectives have been furthered or hindered. Almost without exception, neoliberal policy conformity is shown to undermine these agreed objectives and often to impact differently from their declared intent on specific and identifiable target groups within the population. This evidence makes a strong case for greater and more active accountability of government action and thus also questions declared commitment to previously agreed - and politically convenient - principles. In more than one area, there is strong evidence to suggest that policies are mere populist window-dressing in that their stated objectives are in line with identified and desired goals whilst their implementation can only undermine their own stated intent.

Economic Policy and Human Rights thus provides much more than an examination of particular policy prescription in Mexico and the United States. Indeed it may even present an evaluative framework that could be applied by progressive analysts to any state or region that has adopted the objectives of these quite specific treaties. As such it will surely provide an important and enduring contribution to any debate on social and economic policy.

Philip Spires
Author of Mission and A Fool's Knot, African novels set in Kenya
http://www.philipspires.co.uk/
Migwani is a small town in Kitui District, eastern Kenya. My books examine how social and economic change impact on the lives of ordinary people. They portray characters whose identity is bound up with their home area, but whose futures are determined by the globalized world in which they live.