The concept of absolute advantage seems to imply that entities (countries, corporations, people) ought to seek economic opportunities where they have absolute advantages over competitors (e.g., through obtaining a monopoly). The concept of absolute advantage tends to support a WINER-LOSER psychology of trade. In contrast, the concept of comparative advantage, developed by economist David Ricardo in
Read MoreCommercial Resources Byte Level Reseach, Inc. provides expertise in Web Globalization. Services include custom consulting and reports on uses of the Web in global business. Selected Bibliography These materials have been listed in various academic bibliographies. They have been used, or have been recommended in, university courses. Some of the same titles also appear in
Read MoreBasic Global Business Ethics in 20 Minutes Note: This is a very academic approach. Users who want quick and easy answers will be disappointed. It usually takes several weeks of undergraduate training and reading for students to be able to use the principles described here effectively. Please provide a comment if you would like to see
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Use this link to take you to a YouTube video on the moral responsibilities of multinational corporations. This presentation is academic in nature, using a style that is appropriate for a college classroom. Business majors, students working on an MBA, and persons involved in direct sales in international trade will benefit from exposure to the
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By studying this page, you will learn How to calculate the GDP How to understand money flow in the GDP – Exercise 1 includes 4-question GDP Money Flow Quiz How to calculate GDP in a practice example – Exercise 2 includes 1-question GDP Calculation Quiz How to use U.S. government information to verify the formula in the
Read MoreThe following definitions are useful in the study of globalization. They may be studied and used in academic settings. Read these definitions carefully. When you are finished, Take the one-question Quiz for this page. Note: the correct answer for the quiz also contains additional information about globalization. Definitions of Globalization: 1. Joseph Stiglitz, an economist, and
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Think locally, act globally — John Naisbitt Background: Some Preliminary Considerations for Understanding Global Consciousness In the sense of being aware that we now live in “global village,” virtually everyone today has some form of what might be called “global consciousness.” Today, the events that intrude on daily life are no longer limited strictly to one’s
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In this Mini-Course, you will learn the essentials of the U.N. position on a worldwide problem: the treatment of workers in third-world countries. The issue is sensitive because citizens (corporate citizens and consumers) in the first world do not want to feel responsible for working conditions that seem harsh or that ignore human rights. If
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