Unregulated Capitalism Undermines the Legitimacy of...

Introduction In a capitalist system, businesses compete with one another to produce the most innovative merchandise at the most competitive prices; in turn, consumers freely select the most desirable products. According to Adam Smith, this competition, when left unregulated, fosters maximum wealth and the common good (Economist 2-3). Indeed, unmanaged competition may ensure prices are affordable for consumers (2). However, in a global free market that exploits cheap labour; market demand dwindles, resulting in excessive credit lending and debt crises (Li 295-6). In this way, capitalism’s efficiency and promotion of the common good is questionable. Since the resurgence of unregulated capitalism in the late 20th century, social†¦show more content†¦Historically, freedom was viewed strictly as political liberty, but this has evolved into the right to live as one chooses, equipped with essential resources (Charmichael 41). Similarly, equality has broadened from the mere idea of equal citizenship rights to the idea that some government interference may be required to ensure the accessibility of rights. For example, all people have the right to legal counsel, but for those who cannot afford a lawyer, legal aid may be required. Though liberals agree that everyone should have equal access to rights, the extent that government should minimize social inequities is debatable (42). In general, liberal democrats prioritize political equality, entailing equal voting rights and representative government (Harder 75; Plattner 131-2), as well as economic freedom, which protects property rights and allows businesses to operate free o f government (Kellogg 52; Plattner 128). As such, economic inequalities are typically viewed as a natural consequence of freedom. Nevertheless, some liberals argue that government need not constrain economic freedom if it promotes equal opportunities (Mintz 105-6). In a liberal democracy, the notion that property is a private matter (Kellogg 52) has evolved over time. In the laissez faire era of the late 19th century, property rights enabled owners to subject workers to intolerable workingShow MoreRelatedEssay on Classical Liberal Theory1055 Words   |  5 PagesClassical Liberal Theory Classical liberalism is a very interesting political theory. The underlying belief is that what makes a person human is freedom from the dependence on the will of others. It is complete freedom from any relations with others, except those entered voluntarily. Another main point of classical liberalism is that the individual is the owner of his person and his capacities, for which he owes nothing to society. The individual, although free, has no power to limit anyoneRead MoreThe Rise of China and Future of the West17670 Words   |  71 Pagesand the Future of the West Can the Liberal System Survive? By G. John Ikenberry January/February 2008 Summary:   Chinas rise will inevitably bring the United States unipolar moment to an end. But that does not necessarily mean a violent power struggle or the overthrow of the Western system. The U.S.-led international order can remain dominant even while integrating a more powerful China -- but only if Washington sets about strengthening that liberal order now. G. JOHN IKENBERRY is AlbertRead MoreOrganisational Theory230255 Words   |  922 Pagesculture: when there is insufficient conflict Understanding the purpose of the organization and embedding it in the culture Critical theory and psychoanalysis present challenging perspectives for organizational design Social democracy and the democratic organization Democracy, rationality and power A psychodynamic perspective on design – create the boundaries Critical theory and psychoanalysis challenge understandings of leadership and management Conclusions 330 330 332 332 332 339 340 341 342Read MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagestwentieth century in myriad ways. On the one hand, the war set in motion transformative processes that were clearly major departures from those that defined the nineteenth-century world order. On the other, it perversely unleashed forces that would undermine Western world dominance and greatly constrict the forces advancing globalization, both of which can be seen as hallmarks of the opening decades of the twentieth century. This intermingling of the forces and processes that were arguably essential

Letter in The Strange Case of Dr. Jekyll and Mr. Hyde Essay

Letter in The Strange Case of Dr. Jekyll and Mr. Hyde Dear James, It has been too long since we last communicated. I trust things are better with you and yours than they are with me. I have some distressing news. It is with great dismay that I tell you that our dear friends Henry Jekyll and Lanyon have died, or have been killed should I say. There is no easy way of telling you this but I desperately need someone to talk to as it has been suppressed for too long now. It is time things should be brought to the attention of whoever it may concern. I am telling you this because Jekyll kept too much secret; this eventually drove him to kill himself. I dread to think what will happen to me if I†¦show more content†¦It was this misgiving which leads to Lanyons death. I remember Lanyon once told me he feared that his death would come very soon. I also noticed tension between Jekyll and Lanyon. Jekyll felt hostile towards Lanyon and Lanyon told me he didnt want anything to do with Jekyll again. I could sense something was horribly wrong. I knew full well someone else must have been involved to cause such a conflict between Jekyll and Lanyon as they once well respected each other and were close friends as well as colleagues. All I could think of was this Mr. Hyde. It was not long before the terrible incidents occurred. My cousin Richard Enfield told me he witnessed Mr. Hyde colliding with and then trampling over an eight-year-old girl near the squalid rear entrance to Jekylls laboratory like it was some damned Juggernaut. When ordered to pay compensation, Hyde the money out of Jekylls account. Enfield found Hyde difficult to describe but feels there was something wrong with his appearance; something displeasing, something downright detestable. When I heard of this, there was a feeling of repugnance and loathing which this Hyde inspired in me. I naturally assumed Hyde had been blackmailing my dear friend Jekyll which must be why the cheque was signed by him. 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In both novellas the theme is found in the literary devi ces of symbolism and personification. Although both works embody the theme of the duality ofRead MoreThe Strange Case Of Dr. Jekyll And Mr. Hyde Essay1393 Words   |  6 Pages Jekyll/Hyde and Mary Reilly Comparison Final Paper The book of â€Å"The Strange Case of Dr. Jekyll and Mr. Hyde† was written nearly over a century ago. The fictional novella was written the year of 1885 in England, by Robert Louis Stevenson. The author wrote a gothic mystery story, told by a narrator that follows Mr. Utterson’s point of view. Mr. Utterson is the attorney of Dr. Jekyll, and his point of view comes from the outside of the home. StevensonRead MoreAnalysis Of The Book Where Dr. Jekyll 1163 Words   |  5 PagesDeacon Brodie and Dr. Knox were both from Edinburgh and both lived â€Å"double-lives†, this undoubtedly had a major impact upon Stevenson’s imagination and later his writings. (Stefan 5) â€Å"While growing up Stevenson had a friend and the son of Sir James Simpson, the developer of medical anesthesia, the two friends would â€Å"experiment† with chloroform, for the enjoyment of it.† (Stefan 5) This experimenting carries a familiarity with it that would later be found in the character of Dr. Jekyll in Stevenson’sRead MoreThe Strange Case Of Dr. Jekyll And Mr. Hyde938 Words   |  4 Pages The Strange Case Of Dr. Jekyll and Mr. Hyde â€Å"Dr. Jekyll Mr. Hyde† is a gothic novel written by Robert Louis Stevenson that was first published in 1886. It’s about a lawyer from London named G.J. Utterson who explores strange events that involves his old friend Henry Jekyll and Edward Hyde. The novel’s influence on language is extraordinary, with the phrase â€Å"Jekyll and Hyde† coming to the meaning of a person of diversity in moral character from one situation to the next (French literature)Read More The Gothic Novel Dr. Jekyll and Mr. Hyde Essay examples1403 Words   |  6 PagesTo what extent can The strange case of Dr Jekyll and Mr Hyde be viewed as a gothic novel? Jekyll and Hyde is a gothic novel. It was written by Robert Louis Stevenson, he got the idea for the story after a dream he had. The word ‘Goth’ is originally from a German tribe and has come to mean ‘barbarian’ and later know as ‘Gothic’. In Gothic Literature certain features are expected. These are supernatural events, have villains and hero characters, strange weather, horror, mystery and deathsRead MoreDr. Jekyll Essay1067 Words   |  5 PagesLouis Stevenson’s novella, the Strange Case of Dr. Jekyll and Mr. Hyde, titled, â€Å"Jekyll’s Full Statement of the Case†. In this final chapter, Dr. Henry Jekyll writes a letter to his only good friend left, Mr. John Utterson. Throughout the novella, Mr. Utterson tries to uncover the mystery of Mr. Edward Hyde. Dr. Jekyll, in an attempt to save his reputation, makes excuses for Hyde’s behavior ultimately hoping to stop Utterson’s inquiry. This does not quite work out for Jekyll in the end, leading him to

Mine Accident Free Essays

The Sago Mine Accident in January, 2006, left the world wondering how things were so bungled.   Communication in the incident was almost as large a disaster as the mine explosion itself. Many questions still hound the company and the families of those who died. We will write a custom essay sample on Mine Accident or any similar topic only for you Order Now If the mine had been cited for numerous safety violations, why was it not shut down until those were repaired?   Why had the safety violations not been address by company, union or mine safety officials? Reports indicate it was nearly an hour and half after the explosion before rescue crews were brought in. Why?   Furthermore, when rescue workers began to receive information about the fate of the trapped miners, why was the information released to the families and the news media before it could be verified. While there was nothing the company could do to change the fate of the miners, being told they were alive and then learning that they had died, except for one survivor, demoralized the nation and the families, compounding the tragedy. The question remains why did the company not have better emergency communication procedures in place and why, once rescue workers were in place, were facts no verified before being released to the waiting families? At first glance, it appears that simple communication preparation could have helped the entire incident to be handled more smoothly.   If the union, the company and mine safety officials had better documented the infractions and the response to those refractions, they would have been spared the negative attention from the national media. If the company had had a designated procedure for dealing with crisis communications it might better have been able to reach rescue workers and get them to the mine sooner. The timing of the incident contributed to the communications errors because people were on vacation and the mine had to find other ways to communicate with mine safety officials. Finally, the communication problems during the mine rescue could have been avoided if all information were channeled through one person and then distributed accordingly. How to cite Mine Accident, Essay examples

Marketing and Management Benificial of Global Companies

Question: Discuss about the Marketing and Management for Benificial of Global Companies. Answer: Option A: Marketing of new products by global companies is beneficial to the culture of the individuals in the host country Global brand- Definition A global brand is one that has recognition worldwide. Global brand does not mean just launching a website that is accessible from any part of the world. A global brand must understand consumer behavior, position itself correctly, know how a brand translates, think broadly and find good partners. A global brand must be able to identify the features that would create attractiveness. It has to establish itself in other countries and expand itself. It must have the capability to take decisions and choose which ones are applicable locally and which ones are relevant globally. It must understand the relativity for the market in which it operates. Mostly, it must have a tagline, symbols, specific colors to represent itself, and a name that is unique and recognized widely. Introduction of brand Coco Chanel is a privately held French brand owned by the grandsons of Pierre Wertheimer, Gerard, and Alain Wertheimer. The fashion house specializes in ready to wear clothes, Haute coutre, fashion accessories, and luxury goods. Coco Chanel, over the past many years has catered to the taste and style of women for its elegance. The brand is famous and global in appeal for it was instrumental in replacing the over designed, opulent, and constrictive dresses and accessories with simple and elegant suits, blouses, dresses, trousers and jewelry. The brand is recognized for revolutionizing fashion (CHANEL Official Website: Fashion, Fragrance, Beauty, Watches, Fine Jewelry, 2016). The founder of Coco Chanel, Gabriel Coco Chanel is herself a brand for she is the one who revolutionized fashion. She is the value of the brand. Her personality and outlook itself form the foundation of Chanel. The existence of Chanel rests on the effort and desire to keep her at the heart of the company. The brand is appealing mostly because of its ability to create within the audience a feeling of connectivity. The consumers can relate themselves to the brand. The Camelia is the tangible brand symbol of Chanel and represents the identity of the brand. The Little Black Dress collection differentiates Chanel from others. Chanel is brand for the socialites, the elite, the aristocrats, and the wealthy. It reaches the target audience and promotes itself by advertising through culture and society. Moreover, the symbol of Chanel has remained unchanged since it was designed by Chanel. It is a symbol recognized by people in every country. The symbol is the identity of the brand representing wealth, elegance, and elitism. The website of Chanel is very interactive and displays the Chanel culture. Moreover, it fits the traditional culture of the country in which it sets its foot (CHANEL, 2016). Host country culture before product introduction Coco Chanel has been very much influential in changing the way women dressed in the traditional French society. Womens dress in nineteenth century France reflected ancient Greek styles. Women wore draped, high-waist, and lose white gowns in the traditional French society. They wore clothes made from a variety of redingotes, pelisses, and shawls. In the second half of the century, women were seen prancing about in walking dresses. The framework underset and restrictive corset dominated the years after 1840. The clothing culture of nineteenth century France was characterized by bonnets, corsets, petticoats, bustles, and top hats. The period was dominated largely by full-length skirts. Women wore bell-shaped skirts. There were a constant experimentation and flow of styles (Nebenzahl Jaffe, 2013). Cultural Changes due to the brand Coco Chanel played a pivotal role in changing the fashion culture of France. Coco Chanel has revolutionized the fashion industry by replacing traditional dresses of the nineteenth century France with simple modern dresses. Chanel accelerated the popularity of trousers as a fashion item. Women wore trousers while working in traditionally male-dominated jobs. In the traditional nineteenth century society, pale tanned skin was associated with the lower class. Chanel subverted the tradition and made suntan skin a coveted fashion accessory (Okonkwo, 2016). What was considered unladylike and lowly was soon a trend in the elite class. Moreover, Chanel introduced the jersey in womens fashion wear. The jersey was reserved only for the men. However, Chanel used the practical, simple, and comfortable fabric for women wear. This was an antithesis to what women wore in the traditional society. The jersey was also considered economical in the war affected society. Chanel also introduced perfumes that were created artificially with unnatural ingredients. Though Paul Poiret had first made its scent, Chanel had put her name on the bottle thereby spreading the brand to an entirely new world market. Chanel is the source of inspiration for most brands today that create scent artificially (Som Blanckaert, 2015). Again, Chanel spread the idea of using costume jewelry by introducing glittering gems and large fake pearls. The trend was soon widely popular. The combination of fakeness and reality was a perfect to accompany minimalist clothes. Fake jewelry was used earlier by the lower class who could not afford to buy costly gemstones. It was Chanel who introduced the concept of fake and costume jewelry to the upper classes. Chanel is the face who presented the staple- the little black dress. She deemed electric colors impossible for a womans wardrobe and raised the importance of black dress. Chanel undeniably popularized the black dress. She considered the black dress a ubiquitous and iconic thing. She believed in the absolute beauty of the color (Riot, 2013). Moreover, Chanel was one of the first designers who borrowed menswear for womens fashion by creating iconic suits. The suit comprised fitted sleeves, metallic buttons, and collarless boxy wool jacket with braid trim, accompanied with slim line skirt. It was on the list of priorities for women who were seeking a position for themselves in the male-dominated society. The suit was further promoted by celebrities like Grace Kelly and Audrey Hepburn (Nebenzahl Jaffe, 2013). Four Examples of Cocos marketing strategies in France The customers of Chanel are mostly women who want to identify with the brand. They want to represent what the brand represents- simplicity, modernity, and elegance. The cosmetics of Chanel are for the younger and classic consumers. The Chance perfume targets women aged between eighteen and thirty. In France, Coco Chanel is one of the most desired brands. The brand releases commercials like the Coco Mademoiselle to gain recognition. It also organizes various fashion shows for promoting the brand. Such shows let the audience peep into the psyche of the brand and appeal to the public in such a way that women are ready to spend thousands of dollars. The global brand presents Coco Mademoiselles artistic creations, words, private collections, and masterpieces to promote itself. Chanel also earns its reputation through runway and theatrical shows. Such shows have stunning settings and elaborate backdrops. Such runway shows are highly acclaimed and anticipated (Riot, 2013). The brand also promotes itself by telling its story to the audience on television screens and wide screens. Movies like Coco Before Chanel by Audrey Tautou and Inside Chanel helps the customers to gain knowledge about the brand. They get to know the story behind the brand. The struggle of Coco from an orphan to one of the most influential personalities encourages women. Moreover, documentaries like Lagerfeld Confidential are also helpful in branding (CHANEL, 2016). Coco Chanel promotes its products through celebrity endorsement. It has roped in celebrities like Audrey Tautou and Marilyn Monroe. Stars like Candace Bergen, Bradd Pitt, Catherine Deneuve, and Nicole Kidman have become manifestations of the ethos that the brand perpetuates. Besides television shows, the luxury brand also uses fashion and art shows like the Metier dart to create awareness. The show pays tribute to the suppliers of Chanel for their excellent craftsmanship (Riot, 2013). Chanel utilizes iconography for branding. It creates an attractive image which signifies its heritage. The logo which is an interlocking double C is the brands icon. The use of monochromatic black, camellia flower and quilted leather strengthens the identity of the brand. The brand image is so widely known throughout the world that one would find it in anything and everything. The image is such that it transcends the identity of the label. The aesthetic iconography of Chanel has been incorporated by fans into their lives- from parties and interior decoration to cupcakes and clothes (CHANEL, 2016). Conclusion It is thus very much evident that Coco Chanel is a widely acclaimed and renowned global brand. It has all the features such as brand image, icon, celebrity endorsement, website, among other features which make it a global brand. The brand organizes various fashion shows, programs, and advertises through television and widescreen to endorse itself. The history of Coco Chanel and the women herself is inspiration for thousands of women in the fashion industry. The brand has an identity of its own and women seeking to use the brands products identify themselves with the label. The symbol itself is that of an elite class. Using the brand enables women to differentiate themselves from the crowd. It is a signature of elitism and wealth. Not only that, it symbolizes freedom and emancipation of women. Coco Chanel is the name who broke societal norms in the early twentieth century and paved the way for the modern high society women. References CHANEL Official Website: Fashion, Fragrance, Beauty, Watches, Fine Jewelry. (2016).CHANEL. Retrieved 16 September 2016, from https://www.chanel.com/en_US/ De Mooij, M. (2013).Global marketing and advertising: Understanding cultural paradoxes. Sage Publications. Kapferer, J. N. (2015).Kapferer on luxury: How luxury brands can grow yet remain rare. Kogan Page Publishers. Nebenzahl, I. D., Jaffe, E. D. (2013). Measuring the joint effect of brand and country image in consumer evaluation of global products. Journal of Marketing Practice: Applied Marketing Science. Okonkwo, U. (2016).Luxury fashion branding: trends, tactics, techniques. Springer. Pinkhasov, M., Nair, R. J. (2014). A dilemma across time and culture. InReal Luxury(pp. 4-27). Palgrave Macmillan UK. Riot, E. (2013). Woman in love, artist or entrepreneur? The edifying, mystifying life of Coco Chanel. Society and Business Review, 8(3), 281-313. Som, A., Blanckaert, C. (2015).The Road To Luxury: The Evolution, Markets and Strategies of Luxury Brand Management. John Wiley Sons. Steenkamp, J. B. (2014). How global brands create firm value: the 4V model. International Marketing Review, 31(1), 5-29. Wiedmann, K. P., Hennigs, N. (2013). Luxury marketing.A challenge for theory and.

The Sepoy Mutiny Of 1857 Essays (2643 words) -

The Sepoy Mutiny of 1857 As with any conflict or controversy there are always two sides to the debate, and the events in India during 1857 are certainly no exception. Given the situation in India during the nineteenth century it is hardly surprising that such a polarisation of opinion exists regarding the context of the rebellious events during that year. The British being in control of the subcontinent and their sense of superiority over their Indian subjects, would naturally seek to downplay any acts of rebellion. While the Indian subjects on the other hand would arguably wish to exaggerate and over emphasise the importance of these events, as a means of promoting the nationalist cause for self determination. The truth of the events themselves, does it lie towards the British account or the Indian pro nationalistic side, or could there be a certain amount of truth in both sides of the debate. Metcalf in his account cites three indisputable factors behind the outbreak of rebellion in 1857. Primarily he sees `accumulating grievances of the Sepoy Army of Bengal' as the most important factor. The reasons behind this `deterioration of morale' amongst the army lay with several reasons. Much of the Sepoy army was comprised of `Brahmins and other high caste Hindus' who assisted in promoting a `focus of sedition'. The `generally poor standard of British officers', plus the lack of improvement to the overall position of those men serving in the army also increased the level of tension. At this point it should be remembered that the `Bengal Army differed from those of Bengal and Madras', as the Bombay and Madras armies took no part in the rebellion of 1857. But the more pronounced military factor was the lack of British troops in the `Gangetic plain' meant that many areas were `virtually denuded of British troops'. These military grievances which although significant were not themselves enough to incite rebellion, as it took a perceived attack on the Sepoy religious institutions to trigger of the rebellion. The first of these perceived threats was that the British government was preparing to dismantle the caste system and `convert them forcibly to Christianity'. Although not based on fact the actions of some `pious British officers did nothing to dispel' the rumours to the contrary. Added to this British lethargy was the Brahmins who tended to be `peculiarly watchful for potential threats to their religion and caste'. Secondly, the introduction in 1857 of the `new Enfield rifle' with its distinct ammunition, which required the bullet to be `bitten before loading'. Rumours that the grease used on the bullets was either from the fat of cattle or pigs, which either proved `sacred to Hindus' or `pollution to Muslims', was interpreted as attacking at the core of the Hindu and Muslim religious beliefs. These rumours unlike those regarding the conversion to Christianity and dismantling of the caste system, did prove to have a factual basis, as the British government `withdrew the objectionable grease'. This belated action proved futile as the damage had already been done. However this only accounts for the military aspects of the uprising which display the version of events `accepted in official circles [as] basically army mutinies'. This version preferred by the British fails to acknowledge the level of `widespread unrest among the civilian population', who saw much of the British government's actions as amounting to interference and contempt for the `long established rules and customs'. Disraeli saw the causes of the uprising as not being the `conduct of men who were ... the exponents of general discontent' amongst the Bengal army. For Disraeli the root cause was the overall administration by the government, which he regarded as having `alienated or alarmed almost every influential class in the country'. Yet other British saw the overall social situation and government administration as having no effect in causing the uprising. For officials like Sir John Lawrence the `immediate cause of the revolt' was the concerns held by Sepoys over the new ammunition for the Enfield rifles. However, he sees this as just the trigger incident, with the root cause being the long term reduction in discipline in the army and the poor standard of officers in command. The British standpoint is to regard

project scope essays

project scope essays PROJECT SCOPE - CDL Entertainment, Inc. is a worldwide company with offices in the United States, Europe, Japan, and South America. The company engages in the development of audio and video special effects for the entertainment and advertising industry. Although the company is a rather large company consisting of approximately 1,000 employees, the offices are not networked causing a need to improve communication with one another. In todays technology world, this has become a major downfall for CDL to sustain a competitive edge in a very ruthless industry. The management at CDL needed to determine if networking all of their offices was a viable solution to the problem or if there were other alternatives to the problem. The problem CDL Entertainment faced was the company was incurring excess costs associated with the current computer systems located at each location and the current business processes used at each office. As the project team reviewed the current situation, it was determined each office had a loss of nearly 20% of its projected annual revenue due to poor turnaround time and missed client deadlines (this is discussed in more detail in the Current System Costs section beginning on page 14). As an example of this, one of CDLs customers, JPR Incorporated, decided to discontinue doing business with the company after more than a ten-year relationship. The reason for this was due to another missed deadline on January 13, 2002. This was the eighth deadline missed, after missing seven previous deadlines. The consequences of CDL Entertainment missing this deadline caused JPR Incorporated to lose a major contract with Time Warner. The problem occurred when CDL Enterprises was to provide necessa ry audio and visual equipment to JPR Incorporated to complete a major production shoot of an upcoming movie in production negotiations with Time Warner. CDL did not meet this deadline due to the equipment being held up in the shi...

International bussiness Assignment Example | Topics and Well Written Essays - 3000 words

International bussiness - Assignment Example Brazil has experienced massive socioeconomic transformation, and this can be dated back since the World War II. The country has seen growth from an economy that relied more on exportation of few primary products to the present day economy that is characterised by large and diversified industrial sector. The country has also transformed from a previously largely rural population to an increasingly urbanised state today. All these are clear illustrations that show the enormous strides that Brazil has taken towards its status among the fastest growing and emerging nations in the world. Brazil has an estimated population of about 200 million people which is a rapid growth from the 17.4 million in 1900. About 87 percent of the country’s population is urbanised compared to 30 percent in 1940. After going through several decades of industrialisation, Brazil presently produces more than 35 million tonnes of steel, 3 million vehicles, 66 million tonnes of corn and 60 million tonnes of cement among others annually. Other primary goods produced in the country include refrigerators and television sets. The country has a well-developed road network covering over 1.5 million kilometres well as a widespread supply of electricity (TWB 2014). The political system in Brazil involves the president being the supreme entity especially in matters concerning executing policies approved by the lower and upper houses. The Congress has a regulatory function towards decisions and actions taken by the executive. The two chambers (Chamber of Deputies and the Senate) have a role in creating legislation which are thereafter signed into law by the president. In matters of national economy, the Brazilian government has a pivotal role and influence in many aspects of the economy and its consequential growth. For example, the Government expenditures accounts for more than 40 percent of the country’s GDP. Technological advancements is an essential part in the economic