A T-shirt Epic Essay Example for Free

A T-shirt Epic Essay Pietra Rivoli’s delightful narrative, The Travels of A T-Shirt in the Global Economy, goes about a surprising journey around the global village to discover an entangled web of economic and political forces that move this piece of clothing around. The book is split into four parts of a t-shirt’s life.   Part one of the book deals with the cotton industry.   Rivoli’s own surprise at learning that the cotton used for her shirt comes from Texas opens up this chapter on the continuing dominance of the American cotton industry.   The book then continues to explain the reasons for these—aside from government subsidies, the larger part of America’s continuing competitive advantage is its â€Å"virtuous cycle† of governance.   Ã¢â‚¬Å"In the United States, the farms work, the market works, the government works, the science works, and the universities work.† (Rivoli 7). The second part of the book is about the textile industry’s so called â€Å"race to the bottom†.   Industrialization is ushered in by the textile industry, and Rivoli gives examples from 19th century England to the Asian economic powerhouses Japan, South Korea and Hong Kong in the 20th century.   The third part is about the complexity of getting a textile import into the United States, with all the confusing legislation brought about by decades of political control held by textile manufacturers in America.   In the final part of the book, Rivoli examines the global market for used t-shirts, which she concedes is the final place where markets actually determine its origin and destination. Free Trade or Protectionism   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The author is not making an argument for either protectionism or free trade.   Obviously, as a trained economist, Rivoli favors free trade, as do all her colleagues in an almost unanimous voice.   However, the book does not argue for either side, and instead illustrates that both sides of this policy divide unwittingly spur economic development. Free trade policies encourage more â€Å"races to the bottom† as production shifts to low cost countries; however protectionist policies also contribute to another type of race.   In the battle for quota imports to the United States, for example, investment has flowed into areas where there is less restriction on trade with the world’s largest consumer of textiles and apparel.   In the modern-day case with China, the relatively low quota limits that China has for its exports to the US before the expiration of the Multifiber Agreement (MFA) (Rivoli 121) has encouraged investments in other developing countries like Pakistan, Bangladesh and even Sub-Saharan Africa.   As the book notes, the exclusion of one creates opportunities for another, and the humble textile industry is the first step towards industrialization for many developing nations.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As Rivoli further notes, when the MFA was scheduled to be taken down, a lot of other developing countries were scared of China eating everyone’s share of the textile pie.   It represents one of the few actually plausible pro-protectionist arguments in the book, which are not really argued for but just explained. The role of politics in international trade It’s a given fact that politicians will listen more often that not to their constituents first instead of to common sense.   Unfortunate as it may be, politics more often than not counter the market forces that power the global race to the bottom.   Rivoli puts it as â€Å"While the market forces powering the race to the bottom are strong, the political forces pushing back against the markets are strong as well, particularly in the United States.† (Rivoli 115) This clash between the two has made importation of textiles a very complicated business in the United States, and changes the face of international trade with it.   If an item cannot be imported from China, it is imported from Mexico instead, giving an artificial advantage to some countries that will not be there if market forces were solely in control.   The decisions that politicians like congressmen and senators in Washington make often influence the very futures of some countries in the world. Rivoli characterizes American industries that are aging as trying to escape market forces by clinging on to their political supports.   Instead of a paradise of no intervention and perfect competition, what happens is that more often politics exert a big unpredictable force that tilts the equation over completely.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Another example was 18th century England, where to no avail Parliament tried to pass acts that would protect their domestic wool producers.   Instead of having the intended consequences (i.e. eliminating imported cotton), it just pushed international trade to adapt to the circumstances. The â€Å"race to the bottom† phrase used so much in the book is one of the most intriguing ideas of Rivoli. Basically it says that the textile industry, like all industries is governed by market forces.   On the supply side, producers seek more and more productivity for lower costs—a reaction that sparked the original Industrial Revolution.   However, as wages go up along with production costs, producers are keen on reducing costs and preserving low prices with huge markets.   These trends doom an industrial country’s textile production after it becomes less competitive than another aspiring country who is not the leader in the â€Å"bottom† of production costs. The fire of the Industrial Revolution spread to the United States, and then in the last century to Asia, where during the past twenty or so years China has held the spot as top in this ubiquitous â€Å"race to the bottom†. The other side of the argument—those activists who bring about higher minimum wages and better labor standards, hasten the fall of a country from the â€Å"race to the bottom†, but at the same time also hasten industrialization and the development of other more value-added industries.   It also makes another country leader of the race to the bottom, ready to start the cycle all over again. This â€Å"history repeats itself† phenomenon—from Britain to Taiwan leaves the reader enthusiastic of the future, and of how economics will eventually make all the people of the world feel a little bit better. R E F E R E N C E Rivoli, Pietra. The Travels of a T-Shirt in the Global Economy. New Jersey :Wiley, 2005.

Terrorisms Effects on the World Essay -- Terrorism Violence Ethnicity

Terrorism's Effects on the World Ethnic conflicts arise everyday among people in society. Although problems between the populace have changed in the present generation, ethnic issues have been apparent since the beginning of time. Some of the modern cultural conflicts can range from terrorism to religious wars. Terrorism has been a predicament throughout the entire world ever since the day man was created. It seems to be the answer to many leaders’ issues with â€Å"foreign† people. Not only is terrorism harmful itself in many ways, it causes new problems that worsen every situation. For example, terrorism is presently forcing many countries around the world, including the United States, to change their life styles, political processes, and even their economic values as a reaction to the threats.   Ã‚  Ã‚  Ã‚  Ã‚  Although terrorism begins in one particular area, it seems to spread to other regions as well, even though not exactly to the same extent. For example, in the United States, there were consecutive bombings and suicide attacks during a short period of time. Considering that this causes paranoia, other countries began to create new laws and restrictions in order to protect its people, even though the attacks weren’t necessarily focused towards that specific region. As an immediate response to the terrorism, the United States government changed in many ways, from restricting the citizens’ rights, to ending certain public activities, up to restricting entrance into certain buildings. The government even began to limit the media. Similarly to the United States, on September 22nd, the Russian parliament was debating on which possible new restrictions and laws can be enforced in order to â€Å"guarantee† better national security. New laws in the United States, such as the right to declare a â€Å"state of war ,† make the country seem as if it has more power than neighboring areas, helping to comfort any fearful, or paranoid, citizens. Terrorism, as well as other ethnic conflicts, has even caused the people of Asia-Pacific countries to create new laws in reaction to the threats, simply because they became intimidated. An article in the Financial times stated that it is trying to boost their â€Å"political momentum† behind the battle of terrorism, promising to take practical steps to improve their co-operation . New laws were being considered, due to the fear and security levels o... ...ked and used as hideouts. For example, Russia, South America, and certain sections of the United States are simple targets because of the land and the population densities, unlike places such as the Sahara Desert. Of course, if a terrorist truly wanted to mass murder a group, they would simply set off a nuclear explosion. This would obviously create a complete new set of problems along with those that we have already discussed. Personally, I believe wars shouldn’t be encouraged, and honestly, I don’t suppose that it results in any positive feedback whatsoever. Although I don’t completely agree with how Russia, Indonesia, South America, and Darfur are dealing with their terrorist problem, I still consider it a good idea to think forward and make plans on how to overcome cultural problems. Terrorism has caused many countries around the world, to change their daily values and their economic priorities, as well as their whole political framework as a response to ethnic conflicts. Terrorism has been a common answer among leaders regarding intercultural problems among â€Å"different† people ever since mankind was created. Ethnic conflict is now becoming a new, everyday aspect of life.

National and Global Finance Essay

1. Choose an example of a type of new company you could start, and then use this company idea to answer the questions below. You might choose a pet store, a restaurant, a tutoring business, or something else. This can be the same type of company you chose in assignment 8 or 9, or it can be different. a. Describe the type of business you chose. (1-2 sentences. 0.5 points) The type of business I would start would be for family or friends gatherings. This business would be place people come to eat and social, a nice, warm evening. b. Describe at least two ways in which the local, state, or federal government would have an impact on your business. (2-4 sentences. 1.0 points) Whether business owners know it or not, but the government create laws and regulation to protect the business. Two ways the government would have an impact on my business is by setting a price ceiling and price floor. These both determines whether or not my items it too high or low for its’ good. 2. Describe at least one advantage and one disadvantage of price ceilings and price floors. Do you think price ceilings and floors are more helpful or more harmful to consumers and the economy? Explain. (2-4 sentences. 1.0 points) Price controls are the government intervention in free markets. In the case of agriculture without price floors mass starvation could occur as there is often a 2 to 10 year turn around on agricultural investment. Price ceilings on certain food products may also ease starvation. Remember that perfect free markets have never existed except in theory. 3. Describe at least two negative outcomes of having too little money and credit in the economy. (2-4 sentences. 2.0 points) It would cause scarcity or currency, leading to rapid deflation, and also, overproduction of goods means major markets would plummet in value. Overbalancing demand, leading to major losses for the producers. 4. Describe at least two negative outcomes of having too much money and credit in the economy. (2-4 sentences. 2.0 points) It would cause a sacracity of currency, leading to rapid deflation. Overproduction of goods means major markets would plummet in value, outbalancing demand, leading to major losses for the producers. 5. Which Fed tool do you think is most important, and  why? (2-4 sentences. 1.0 points) Change the Federal Funds Rate via â€Å"Open Market Transactions† (buying and selling gov’t bonds on the open market). By far the most commonly used tool. Whenever you read about the Fed â€Å"changing the interest rate† they are referring to open market transactions & the Federal Funds Rate. Since they cannot set the rate directly, but do it indirectly by buying and selling bonds on the open market, they usually refer to the desired interest rate as the â€Å"target† rate. 6. Choose one of the following government agencies or laws: FTC, EPA, FDA, CPSC, OSHA, FLSA, EEOC, ADA, SEC, or Affirmative Action. Search online to learn more about the agency or law, and then describe three specific things the law or agency accomplishes. Make sure the information comes from a trustworthy website. Include a link to the website in your answer. (3-6 sentences. 1.5 points) The EPA or Environmental Protection Agency seeks to protect ordinary citizens from the devastation and destruction that may occur when people/companies are not held accountable for their actions environmentally. In most cases this agency has been very effective and is used as a model all over the world to protect streams, rivers, air and people. 7. Describe at least two products that are commonly imported into the United States. (1-2 sentences. 0.5 points) Coffee (Brazil and Columbia) and Cotton T-shirts (Mexico, Honduras among a lot of others) 8. Describe at least two products that are commonly exported from the United States to other countries. (1-2 sentences. 0.5 points) Two of the largest American exports are â€Å"Oil seed† and â€Å"Machines, engines, pumps†, both to China for a combined total of 27.2 billion USD. 9. Why does the U.S. government encourage U.S. companies to sell their products in other countries? Explain how this helps the U.S. (2-4 sentences. 2.0 points) The U.S. government encourages the U.S. companies to sell their products in other countries because other countries may offer better opportunities for growth. 10. Find the value of one U.S. dollar in a foreign currency. You might choose the Euro, the Japanese Yen, the Canadian dollar, or another currency. List the type of currency and the current value of the U.S. dollar in that country. (1.0 points) TIP: http://www.google.com/finance/converter is a good resource for foreign currency information. US 1 dollar = Jordanian 75cents 11. Describe at least three exchange rate factors that are likely to attract  foreign investors to a country’s currency. Explain why these factors are attractive for foreign investors. (3-6 sentences. 3.0 points) Overview Before we look at these forces, we should sketch out how exchange rate movements affect a nation’s trading relationships with other nations. A higher currency makes a country’s exports more expensive and imports cheaper in foreign markets; a lower currency makes a country’s exports cheaper and its imports more expensive in foreign markets. A higher exchange rate can be expected to lower the country’s balance of trade, while a lower exchange rate would increase it. Determinants of Exchange Rates Numerous factors determine exchange rates, and all are related to the trading relationship between two countries. Remember, exchange rates are relative, and are expressed as a comparison of the currencies of two countries. The following are some of the principal determinants of the exchange rate between two countries. Note that these factors are in no particular order; like many aspects of economics, the relative importance of these factors is subject to much debate. Conclusion The exchange rate of the currency in which a portfolio holds the bulk of its investments determines that portfolio’s real return. A declining exchange rate obviously decreases the purchasing power of income and capital gains derived from any returns. Moreover, the exchange rate influences other income factors such as interest rates, inflation and even capital gains from domestic securities. While exchange rates are determined by numerous complex factors that often leave even the most experienced economists flummoxed, investors should still have some understanding of how currency values and exchange rates play an important role in the rate of return on their investments.

The Role Of The Textile Design - 1552 Words

Abstract. This paper will investigate how the distinct role of the textile design-er can enrich the design process in HCI. It will advocate embodiment as a de-sign methodology by focusing on a subjective, visceral engagement with mate-rial and physical computing using tacit textiles expertise. This theoretical prem-ise is explored drawing on the fields of soft robotics, organic user interfaces and transitive materials for the fabrication of a responsive textile composite. The research uses a range of theoretical references to support its concepts of design thinking and computational materiality and deploys the methodological process of autoethnography as a qualitative system for collecting and evaluating data on the significance of textile thinking. This research concludes that there are in-sights gained from the creative practice experimental methods of textile think-ing in HCI that can contribute to the commercial research and development field in wearable technology. Keywords. Material, Expressive Surfaces, Aesthetics, Soft Composite, Soft ro-botics, Wearables. ¬Ã‚ ¬ 1 Introduction 1.1 Background The human body and its component parts are, within a consumer electronics cultural setting, frequently referred to as ‘body real estate’ [1]. It is commodified, objectified and compartmentalized by companies and research laboratories eager to commercial-ize and exploit the ‘hot trend’ of ‘Wearables’ [2] - smart watches, bands and headgear embedded with sensing capabilities, whichShow MoreRelatedThe Culture And Customs Of Ghana1714 Words   |  7 Pages Textile industry for centuries has played an important role in most West African societies. It has been also a form of art that can give us information about the history of African’s countries. The materials used, the patterns, and the colors of the clothes can be associated with specific communities. For example, Kente clothes are made from cotton, silk, and raffia. 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Generally treatment processes are classified as