Globalization Leads to the Demise of the State

Globalization Leads to the Demise of the State The mercantilists were the very first group of thinkers to relate economic prosperity with international trade. They believed that the strength of a nation is determined through its possession of precious metals or bullions. As the state generally invaded neighboring nations and set up colonies, thereby provide no new market to the traders; mercantilists always supported the existence of a powerful state. (ORourke, 1999) The mercantilists view of state interference in international trade and other affairs were severely criticized by the Father of the Modern Economists, Adam Smith. Smith initiated the generation of classical economists and Ricardo, Marshall and others later backed his ideas, the classical view was dashed to the ground, courting the Great Depression. Maynards Keynes suggested a strict government intervention in order to stabilize the economy and lead it the point of prosperity. (Keynes, 1965) Following the Keynesian doctrine, the concept of planned economy emerged. Thi s concept received fertile soil to prosper at the background of socialist movement in Soviet Russia and later in China.Globalization to the advantage - 2010-09-16For around sixty years the concept of planned economy has been embraced by several nations of the world. The role of state is extremely important in a planned economy, as it is the state that formulates the policies and then implements them. When the planned economic set up failed to deliver what was expected owing to high level of corruption among the government officials, the bureaucrat politician nexus and lack of political will, then at the beginning of 1990, a new concept began to emerge in the global economic scenario and was later termed as globalization. (ORourke, 1999)Globalization was not a new concept when the European countries were making efforts to unite under one hood to prevent American aggression even at that time the essence of globalization was present. The only difference...

How to Solve Proportions Using a Recipe

How to Solve Proportions Using a Recipe A proportion is a set of 2 fractions that equal each other. This worksheet focuses on how to solve proportions. Real World Uses of Proportions Modifying a budget for a restaurant chain that is expanding from 3 locations to 20 locationsCreating a skyscraper from blueprintsCalculating tips, commissions, and sales tax Modifying a Recipe On Monday, you are cooking enough white rice to serve exactly 3 people. The recipe calls for 2 cups of water and 1 cup of dry rice. On Sunday, you are going to serve rice to 12 people. How would the recipe change? If youve ever made rice, you know that this ratio - 1 part dry rice and 2 parts water - is important. Mess it up, and youll be scooping a gummy, hot mess on top of your guests crawfish à ©touffà ©e. Because you are quadrupling your guest list (3 people * 4 12 people), you must quadruple your recipe. Cook 8 cups of water and 4 cups of dry rice. These shifts in a recipe demonstrate the heart of proportions: use a ratio to accommodate lifes greater and smaller changes. Algebra and Proportions 1 Sure, with the right numbers, you can forgo setting up an algebraic equation to determine the amounts of dry rice and water. What happens when the numbers are not so friendly? On Thanksgiving, youll be serving rice to 25 people. How much water do you need? Because the ratio of 2 parts water and 1 part dry rice applies to cooking 25 servings of rice, use a proportion to determine the quantity of ingredients. Note: Translating a word problem into an equation is super important. Yes, you can solve an incorrectly set up equation and find an answer. You can also mix rice and water together to create food to serve at Thanksgiving. Whether the answer or food is palatable depends on the equation. Think about what you know: 3 servings of cooked rice 2 cups of water; 1 cup of dry rice25 servings of cooked rice ? cups of water; ? cup of dry rice3 servings of cooked rice/25 servings of cooked rice 2 cups of water/x cups of water3/25 2/x Cross multiply. Hint: Write these fractions vertically to get the full understanding of cross multiplying. To cross multiply, take the first fractions numerator and multiply it by the second fractions denominator. Then take the second fractions numerator and multiply it by the first fractions denominator. 3 * x 2 * 253x 50 Divide both sides of the equation by 3 to solve for x. 3x/3 50/3x 16.6667 cups of water Freeze- verify that the answer is correct. Is 3/25 2/16.6667?3/25 .122/16.6667 .12 Whoo hoo! The first proportion is right. Algebra and Proportions 2 Remember that x will not always be in the numerator. Sometimes the variable is in the denominator, but the process is the same. Solve the following for x. 36/x 108/12 Cross multiply: 36 * 12 108 * x432 108x Divide both sides by 108 to solve for x. 432/108 108x/1084 x Check and make sure the answer is right. Remember, a proportion is defined as 2 equivalent fractions:Does 36/4 108/12? 36/4 9108/12 9 Its right! Practice Instructions: Solve for the unknown variable. Check your answers. a/49 4/356/x 8/329/3 12/b5/60 k/652/949 s/36522.5/x 5/100a/180 4/100