How Effective Would an Increase in Government Spending Be...

How effective would an increase in government spending be at promoting economic growth? Economic growth is best defined as a long-term expansion of the productive potential of the economy. Sustained economic growth should lead higher real living standards and rising employment. Short term growth is measured by the annual % change in real GDP. Government spending is a way of increasing aggregate demand, and if successful can help boost economic growth. Government spending tends to be directed at infrastructure and maintenance, as this not only creates jobs but creates a valuable asset. (AD DIAGRAM) (AS DIAGRAM) (DESCRIPTION) Some government spending is necessary for economic growth as if it were zero, enforcing contracts,†¦show more content†¦Flood insurance programs encourage construction on flood plains. Government programs likes this reduce economic growth and national output because they promote underutilisation and misallocation of national resources. One could argue that government programs that subsidise retirement and housing are bad for the economy as a person will feel that there is not need to set aside income if there are government programs that will finance these for them. Goverment spending also reduces competition. Those working in the private sector are constantly searching for ways to improve their products and reduce the cost in order to stand out from the rest, and this provides competition for others attempting to do the same, and this is a large contributor to innovation. However government programs are often provided for free, or are subsidised to a certain extent, so reduce the need for competition. This does not mean that there are no positives to increased government spending. If government spending increases there can be many ancillary effects. For example, if a government were to invest in infrastructure jobs would be created in the construction of this building, and then this could be bought for (as an example) office space which would create more jobs as people would need to work in this office. With these people having jobs they would then injectShow MoreRelatedThe United Arab Emirates ( Uae )1328 Words   |  6 PagesEconomics ISU Country: UAE (The United Arab Emirates) GDP and Fiscal Policies The United Arab Emirates (UAE) is arranged in the Eastern region in the Arabian Peninsula, bordering Oman and Saudi Arabia. An emirate is a region led by an emir. An emir is an Arab commander of Islamic faith. The President of the UAE is His Greatness Sheik Khalifa bin Zayed Al-Nahyan while His Highness Sheik Mohammed Rashid Al-Maktoum, is the Prime Minister of UAE and Ruler of Dubai. 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If you have some knowledge in business, it will help you to become a more conversant consumer and to market yourself well while looking for a job and also help generate profits that essential

How Foreign Aid Deals With Israel Essay - 2090 Words

Though these diplomatic travesties are enough to call our diplomatic relationship into question, the United States still continues to give Israel large sums of foreign aid. Glenn Greenwald, the author of four best-selling law and policy books, and co-founder of The Intercept, an online news-outlet he co-founded. In response to President Barack Obama’s announcement to sign a deal that increases the amount of Israel’s funding, he published â€Å"As Israel Prospers, Obama Set to Give Billions More in Aid While Netanyahu Demands Even More.† He writes United States gave over $3.1 billion taxpayer dollars to Israel in 2015—nearly half the foreign aid budget—totaling over $38 billion in aid for the next ten years. The article explores how foreign aid deals with Israel surmount aid to any other country, even though Israel no longer has a flourishing economy. Despite the country’s financial prosperity, Netanyahu continues to ask for more U.S. taxpayer dollars. According to Greenwald, Netanyahu hoped to receive $5 billion USD this year. Netanyahu also openly opposed U.S. initiatives to direct Israel’s aid to American military contractors instead of Israeli ones. Greenwald puts this diplomatic faux pau into simple terms: â€Å"usually, when someone hands you billions of dollars in aid, you’re not in much of a position to demand more.† He continues that â€Å"the rules for Israel when it comes to U.S. policy, as is so often the case, are simply different.† Other journalists feed theShow MoreRelatedIran and Access to Nuclear Weapons1402 Words   |  6 Pagestype of fear would give Iran and its terrorists an edge on the world stage. The fear of launching a nuclear attack would drastically change how the U.S. and its allies deal with Iran. To stop that, the U.S. and its allies have established an interim deal to curb Iran’s development, if not halt it completely, of a nuclear device (QA: Iran nuclear, 2014). The deal states that Iran is to stop producing 20% enriched uranium and destroy the stockpile it already has (QA: Iran nuclear, 2014). The InternationalRead MoreSyrian Civil War Case Study1326 Words   |  6 PagesIn the Fall of 2016, as the United States presidential election approached, a civil war in Syria continued with no end in sight. The Syrian civil war has brought with it a great deal of death and destruction; more than 480,000, many of whom are civilians, were estimated to have been killed as of February 2016, with the death toll rising daily. Running on a platform of America-first, Republican presidential nominee Donald Trump, advocated against intervention in Syria’s war, unless the interventionRead MoreUnited States Foreign Assistance Policy850 Words   |  4 PagesUnited States Foreign Assistance The United States has been helping other countries with their economic and military problems since the beginning of the 1900’s when World War I was going on. 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Social Contract For A New Kind Of Research -Myassignmenthelp.Com

Question: Discuss About The Social Contract For A New Kind Of Research? Answer: Introduction Geecy with Tabalbag stayed in a small flat somewhere around in Mona Road. Geecy also had an illicit love affair with a cook named Amin. This illicit love affair will be discussed in the following discourse. This discourse will grandstand the result of this illicit relationship and will also show lights on Amin's murder case in details on the basis of four ethical theories - utilitarianism, deontology, and virtue and contract. Utilitarianism Ethics Theory on murder case of Amin Sthapit Roy Tabalbag was accused of murdering Amin for his self-fulfillment. He brutally killed Amin though he was innocent. Tabalbag's girlfriend cheated him slept with another man, his girlfriend was the criminal (Rosas Koenigs, 2014). Geecy should take the responsibility for what she did. Tabalbag should take harsh decisions and should take legal actions against her misdeeds, instead of in anger he stabbed and killed Amin though it was not his fault. Since Amin was honest and did no harm to the society and the surroundings, so according to Utilitarianism Ethics Theory, Amin should not be killed. Amin killed him solely to fulfil his wish, to take revenge from his girlfriend which is completely unethical. In any way, this kind of act cannot be supported and Tabalbag requires harsh capital punishment (Barrow, 2015). He accepted that the act of manslaughtering is a wrongdoing but he did not accept the crime he committed, thus he must be imprisoned and should teach him the required lesson. Deontology Ethics Theory on murder case of Amin Sthapit This ethical theory does not encourage or entertain killing an individual. Amin was innocent and did no harm to the society. Thus Tabalbags crime cannot be supported according to deontology ethics theory (Playford, Roberts Playford, 2015). Amin was probably unaware that Geecy was playing with him on one side and Tabalbag on the other side. Tabalbag found Geecy behavioural change and he predicted that Geecy might be involved with another man. Therefore, he installed Dr Fone to keep track of his girlfriends phone calls. He also checked Geecy laptop and there he found Geecy sending email to Ryde and telling him she would not be able to attend lectures. Since then Tabalbag was getting ready to catch her girlfriend, Geecy. Thus from the above scenario, it can be concluded that he knew all the things. He should have control over his emotions and should take smart decisions to handle the scenario. Geecy cheated him; Amin had nothing to do, so Tabalbag should take the charge of every misdee d (Chakrabarty Bass, 2015). Though he surrendered to police he is not prepared to accept the reality and the truth that he has actually committed a crime brutally killing Amin and this crime cannot be taken granted. Virtue Ethics Theory on murder case of Amin Sthapit Virtue ethics deal with the character of a particular person or a particular individual. In this scenario, Tabalbags character will be judged. He had a girlfriend and loved her very much. However, her character seemed strange to Tabalbag and he asked for the reason, he too asked whether she was involved with any other man or not but Geecy completely disagreed (Tsoukas, 2017). Though she was then involved with Amin she never wants to disclose that. Geecy should choose anyone between Amin and Tabalbag but she cheated both. Tabalbag so had to know the truth. So he installed a program to track Geecys phone calls and he also accessed her laptop to investigate further. He found that Geecy was not going to attend Rydes lectures (Bruni Sugden, 2013). He tried to find out what Geecy wanted to know in between, thus he tracked her and found her with Amin having sex. He could not take hold of that situation and killed Amin with a knife. The Public Defender also agreed Tabalbag committed crime in anger and anybody in that scenario could have done the same. He accepted that the act of manslaughtering was wrong, but he was not prepared to agree that he actually committed a crime stabbing Amin. Though he had deep feelings for his girlfriend he should understand that he committed an unpardonable crime. Geecy requested Tabalbag to stop but he did not stop stabbing which ultimately costs Amin's life (Mizzoni, 2017). Tabalbag for his stubborn attitude must be punished severely. Contract Ethics Theory on murder case of Amin Sthapit The ethics theory basically deals with a particular set of rules and policies and every citizen must follow these rules for the welfare of the society. Tabalbag should follow the social contract ethics for good, he committed a serious crime by brutally killing Amin which is really not acceptable to anybody and the society. The society should learn this kind of act is vulnerable to risks and threats to anybody and if entertained can lead to several such crimes. Thus Tabalbag requires severe punishment or capital punishment so that the society can learn this kind of act should not get repeated (Vayena et al., 2015). The Australian Government must make laws and everybody I Australia should follow the rules. The death sentence is also given in certain scenarios measuring the extent of crime they have committed. Since Amin was honest and did no harm to the society and to anybody including Tabalbag, killing him Tabalbag should take all the blame. Geecy was the main criminal she cheated both Amin and Tabalbag, Tabalbag could have taken severe actions against Geecy instead in anger Tabalbag killed Amin who did no harm to Tabalbag (Birnbaum Lach, 2014). He accepted that the act of manslaughtering was wrong. He too surrendered himself to police but he was not prepared to plead guilty of the crime he committed. He should understand that killing an innocent person for no reason is harmful to the society and to anybody. It is a huge loss for the society and this kind of crime cannot be entertained at any cost (Bowie, 2015). The society loses a cook just for Tabalbag's misdeeds. Geecy, on the other hand, should realize that she should have respect for the relationship and should have respect for Tabalbag, her approach to Amin lead to this mishap. Conclusion It can be concluded from the above discourse that it was completely unethical to kill Amin, he was honest and innocent and did no harm to the society and to Tabalbag. The ethical theories utilitarian, deontology, virtue and contract discussed over here suggested that it was completely unethical to kill Amin. The first theory depicted that Tabalbag should receive capital punishment or severe punishment for brutally stabbing Amin though he did no harm to anybody, the second one highlights that Tabalbag predicted beforehand that Geecy was involved with another man, he should have acted responsibly and should have taken serious actions against Geecy instead he killed Amin. The virtue ethical theory stated that Tabalbag's stubborn attitude is the reason for this mishap, he should have stopped stabbing repeatedly on request of Geecy but he did not bother to halt. The contract ethics also suggested that he requires punishment for the welfare of the society. References Barrow, R., (2015).Utilitarianism: A contemporary statement. Routledge. Birnbaum, R. Lach, L., (2014). Teaching about what ethical social work practice means: Responsibility starts with schools of social work.Intervention 2014,140, pp.37-43. Bowie, N.E., (2015). Richard De George and the Use of Ethical Theory in Applied Ethics.Journal of Business Ethics,127(4), pp.699-706. Bruni, L. Sugden, R., (2013). Reclaiming virtue ethics for economics.The Journal of Economic Perspectives,27(4), pp.141-163. Chakrabarty, S. Bass, A.E., (2015). Comparing virtue, consequentialist, and deontological ethics-based corporate social responsibility: Mitigating microfinance risk in institutional voids.Journal of Business Ethics,126(3), pp.487-512. Mizzoni, J., 2017.Ethics: the basics. John Wiley Sons. Playford, R.C., Roberts, T. Playford, E.D., (2015). Deontological and utilitarian ethics: a brief introduction in the context of disorders of consciousness.Disability and rehabilitation,37(21), pp.2006-2011. Rosas, A. Koenigs, M., (2014). Beyond utilitarianism: Maximizing the clinical impact of moral judgment research.Social neuroscience,9(6), pp.661-667. Tsoukas, H., (2017). Strategy and virtue: developing strategy-as-practice through virtue ethics.Strategic Organization. Vayena, E., Brownsword, R., Edwards, S.J., Greshake, B., Kahn, J.P., Ladher, N., Montgomery, J., O'connor, D., O'neill, O., Richards, M.P. and Rid, A., (2015). Research led by participants: a new social contract for a new kind of research.Journal of medical ethics, pp.medethics-2015.

Risk management Global Risks Report 2013

The Global Economic Forum meets annually to discuss some of the global risks, their likelihood of happening and the impact that these risks possess in the event that they actualise. The Global Risks Report 2013, which is the latest report from the forum, bears the theme of strategic resilience and dynamism.Advertising We will write a custom essay sample on Risk management: Global Risks Report 2013 specifically for you for only $16.05 $11/page Learn More This paper supports the approach used in the categorisation of risks and the formulation of recommendations. The main assumption of the experts writing the report was that the majority of the risks mentioned in the report bear the likelihood of being unmanageable. The report also recommends dynamism of strategies by assuming that most strategies currently in place may not adequately cater for the future impacts of most risks. This paper is also in support of the approach that the experts used in formulati ng ideas by contrasting ‘external’ risk factors such as global risks with ‘preventable’ and ‘strategic’ risks, thus enabling understanding of how global risks should be approached. The report is the product of a Risk Response Network initiative that involves over one thousand experts from different fields ranging from governments, business organisations, academic institutions, and non-governmental organisations. The broad spectrum of participants and their expertise make the research and resultant predictions credible, thus adding to the usefulness of the report in averting future global crises. The Global Risk Report’s focus on a ten-year period is plausible as the experts participating in the survey are taken from different fields and different regions thus giving a more objective look at issues as opposed to conclusions based on assumptions.Advertising Looking for essay on business economics? Let's see if we can help you! Get yo ur first paper with 15% OFF Learn More However, it is worth noting that the report is an analysis of the past and present occurrences and thus cannot be conclusive. Institutions and governments using the report should thus use it as an indicator of issues to address regarding policies and projections in conjunction with their own outlooks unique to their micro and macroeconomics. On main shortcoming foreseeable in this timeframe is on issues regarding the environment, as changes in natural events are hard to predict (Bernstein 56). The best thing would be to apply of keen observation to changes and to alter measures in conformity with the changes to ensure adaptability. The report aims at promoting decisive action in the face of uncertainty especially due to the ambiguity of a risk or the uncertainty of its severity. The report notes that, based of cognitive psychology, people have a tendency to pay closer attention to risks that they have already experienced than risks tha t they perceive unlikely as it is yet to happen to them and thus unlikely to happen in the near future (World Economic Forum 16). For instance, a person who is a victim of destruction of property by fire is more likely to take up insurance against fire than a person who is not. Similarly, a person who takes up insurance against fire and does not encounter an incident requiring the claim is likely to let the insurance lapse for a year or several years as he or she perceives the likelihood of the event happening to be very little.Advertising We will write a custom essay sample on Risk management: Global Risks Report 2013 specifically for you for only $16.05 $11/page Learn More Psychologists explain that this aspect occurs as the person has the tendency to view such insurance as a bad investment rather than protection (Hendrick 37). This ‘rule of thumb’ psychology as they call it often leads to laxity in updating risk management strategies and the underestimation of the impact that a risk can have, both on an institution and in the macroeconomics of a country. The impact of such action can have unpredictable global economic significance, especially if the country has a huge global presence such as the United States, most European countries and Asian countries such as China. A good example of how such a situation might occur is the global financial crisis that took place in 2007/2008. The financial management policies in the American government provided a lot of freedom to financial institutions in the banking sector and became lax in the supervision of these institutions causing a collapse in the economy that rippled throughout the globe. In the years preceding 2006, there had been steady growth and availability of credit, mainly aided by foreign exchange and growth of investments from Asia and Russia. This element led to a rapid increase in the housing construction business thus increasing competition in the housing sec tor, which caused a fall in the price of housing, to the benefit of consumers wishing to invest in the housing sector. At the same time, financial institutions were increasingly putting into effect the deregulation policy established in the 1970s, which worked to their advantage (Healey and Palepu 23).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The government had established these policies to reduce some of the regulations enforced against financial institutions so that they could conduct business more freely and with added flexibility to suit their customers’ needs. This requirement meant that banks and other financial institutions could afford to lend money to consumers at low rates. The deregulation policy on the other hand reduced oversight on financial institutions, which led to laxity in policies made by the institutions, with regard to the requirement for qualification for loans and specifically mortgage loans. Hedge funds and investment firms willing to provide mortgage loans to individuals without sound financial backing were on the rise, taking over a market mainly occupied by commercial banks, leading to unscrupulous dealings. It also led to a laxity in policy making within the lending institution, which overlooked the necessity to put in place measures to cushion them from possible losses owing to the su bprime mortgages. Due to the lack of proper security on loans, defaults in payments led to foreclosures, leaving many people homeless and causing investors in the housing sector to withdraw their money (Conrad 147). As a result, Wall Street experienced an unprecedented fall in stocks causing international alarm and the start of a global financial crisis. The American government was not able to give as much in grants and loans to other countries as it had to save its own economy, meaning that even developing nations in Africa felt the effects of a crisis that a single government had caused (Sampson and Chambers 73). The positive outcome of this experience is that governments all over the globe are developing adequate measures to deal with such a crisis should it occur in the future as well as gaining the confidence of individual investors who are still cautious on their investments. The report mentions the likelihood of the occurrence of a similar crisis in the future, even though th e impact of such a crisis would be lower than that felt in the previous crisis. However, it is prudent to note that the occurrence of the 2007 financial crisis was not the first. Years before it happened, the Great Depression had befallen the globe. Therefore, according to the psychology the paper mentions, governments should exercise great discipline and vigilance of policies to ensure that they address signs of such an occurrence early enough. The political impact of such an occurrence would mainly be in terms of policy making. Governments would have to formulate legislation that necessitates risk management measures. Socially, amenities such as healthcare facilities and transportation would bear the bulk of the burden as drugs and fuel are internationally obtained products, not readily available in every country. Technological advancements require funding, an aspect that would be severely affected by the occurrence of another global economic crisis. Although the crisis would not have as much impact environmentally as it would economically, there are still certain aspects that would suffer, such as environmental conservation projects, with the likelihood of moving funds allocated to these projects for other purposes being high. The framing of the risks in the survey exudes the interdependence of risks, which the experts explain in the survey that it is to enable the clarification of the thinking process. It also bases the survey on the concept of globalisation and the inter-connectivity of various countries, regardless of the geographical location. They present three risk cases namely, â€Å"the testing of economic and environmental resilience, digital wildfires in a hyper-connected world and the dangers of Hubris on human health† (World Economic Forum 17). The editor in chief of the report, Mr. Lee Howell explains that the case on testing the economic and environmental resilience enables an understanding of what happens when two major systems experie nce simultaneous stress. The report explains that pressure on a major system such as the environmental system not only affects the economy in terms of remedying environmental disasters, but also affects the social welfare of a country, making it hard for the government to cater for the social needs of the people. An environmental disaster, such as a hurricane, more often than not destroys social amenities such as roads and electricity supply. The economic effect takes the form of the financial obligation that a country has to repair the damage. If two major systems, such as the economy and the environment experience simultaneous strain, it affects the political structure of the country. A country whose government is unable to provide solutions to its citizens is likely to experience political unrest and result in civil warfare. In the end, such problems become an international affair due to the effect that conflict on a country has on its trade partners and neighbouring states. Digi tal wildfires in the hyper-connected world is a case that explains what happens when a seemingly minor risk surpasses the expected proportion of impact, while the dangers of hubris on human health explains what happens when people become complacent about to the perceived ability of a system to deal with an evolving problem. Technological advancement is an important element in the development of the economy as well as the social structure through communication facilities. The report points out the dangers that technology holds and the impact it has on the global community due its characteristic effect of interconnectivity. Technological advancements necessitate the review of policies, both economic and political, as it affects the rate of economic growth and provides new avenues for law breaking. The economic impact of technological advancement is largely positive, states the report, although it can cause friction internationally. The first time a developing country raised an issue a bout the differences between developed and developing countries in terms of global intellectual property legislation was in the year 1961, when Brazil, with sponsorship from Bolivia, tabled a resolution in the United Nations General Assembly asking for the assembly to address the issue. The aim of tabling the resolution was to ask developed countries to permit the use of intellectual property by developing countries in order to enable developing countries to benefit from technological advancements. The argument was that developed countries use intellectual property rights to institute monopolies on discoveries that are able to aid in the development of poor economies with the aim of gaining profit. The issue that sparks concern and disagreement is the fact that the regulations seem to favour developed countries more than they do developing countries. Developing countries argue that the higher level of protection provided for intellectual property, the less convenient it is for devel oping countries. One of the justifications given for this inference is that the financial capabilities of developed countries and those of developing countries are very different. The resolution conferred upon the secretary general the tasks of, among others, surveying patent legislations in some selected developed and developing countries and studying the effects that royalties have on underdeveloped countries that pay for the use of patents with regard to the balance of payment. The draft also requested the secretary general to look into and form an analysis on the characteristics of the domestic legislations of underdeveloped countries with a focus on their development objectives. The draft also requested an indication of the possibility of revising legislation in accordance to international law, such that the legislation encourage and permit the rapid integration of new inventions in order to enhance the rate of development in underdeveloped countries (Bogle10). There internatio nal community has made considerable effort to remedy this situation. Nations, both developing and developed have held various conferences that endeavour to solve the inequalities that international patent laws occasion. However, there has been dismal success owing to the presence of conflicts of interest between developing and developed countries and among the developing countries. Developed countries find the existing intellectual property laws appropriate for them, as they need such high standards of protection to take care of the increasing innovativeness in their countries especially in this technological era (Merges, Manell, and Lomney 112). They have fewer, stricter requirements in their legislations to govern patent requirements and procedures and there requirements are usually in synchrony with international laws. Developing countries on the other hand have more complicated systems nationally that provide many requirements for the validation of patents. These requirements al so vary from one country to another due to the uniqueness of national laws and economic goals. In light of this example, a weakness arises in the recommendations that would result from the report. The report exudes a sense of homogeneity in the risks that apply to countries globally. However, the survey is done with most of the observations originating from the North American, European and Asian economies. The resultant recommendations would thus not cater fully to economies in African countries. The risk of disparity between the rich and poor countries would thus be easier to avert in the Western countries, through the integration and synchronisation of economic policies, than it would be in the African countries. This move would lead to economic rivalry and misunderstandings especially in issues of trade and tourism. The experts also indicate a risk in the decline of resources such as oil, justifying the need to research on other planets. In addition, the likelihood of a rise in the population has led to the use of resources, which according to the research, are constant and therefore diminishing with time. The likelihood of a political risk in this is high as it presents an avenue for political unrest in many countries. A good example is Iran, one of the worlds largest energy reserve. Iran has had political unrest for several years now, with the neighbouring countries and international community sensing fears of a nuclear threat. Economically, presence of warfare in the country causes spikes in oil prices, affecting the entire global economy. The survey indicates that research in technology reduces the impact of the risk as new inventions are actualised such as the recent invention of a solar-powered airplane (Kearney Para.9). The report suggests that technology and social media poses a threat to the economy especially in this age of globalisation. It stipulates a likelihood of the occurrence of digital wild fires in a hyper-connected world. Some of the ma in concerns include the destruction of company reputations through propaganda on social media and the easy flow of trade secrets such as the challenges companies face and the financial trouble experienced, which can be detrimental to the economy especially in areas such as the stock market. It also poses a political risk as the disrepute of companies has bearing on the political health of a country to the international community. Social risks such as cyber bullying are also on the rise, necessitating the institution of protective punitive action as a preventive measure. The democratisation of information acts as a sword and shield, possessing the ability to protect and build the economy through the sharing of ideas on one hand and destroying it on the other hand by making it easy for secret information to leak to the public. The survey indicates that social sites grow at a blurring rate, with Facebook attracting over one billion active users in less than a decade and twitter attaini ng more than five hundred million users in seven years (World Economic Forum 24). It notes that this aspect was a major factor in the facilitation of the revolutions experienced in Tunisia and Egypt in the rise of the Arab Spring. As a positive effect, analysis of information on the social sites can help in the prediction of election results, facilitating strategic planning in the campaign period. Another advantage is that governments can use technology as a tool for protecting their economies and security. In recent years, digital technology has increasingly been the tool of choice in the breaking of intellectual property laws (Cortada 42). As a preventive measure and another way of curbing intellectual property related crime, the United States government, through the United States Department of Homeland Security (Para.12), has increased surveillance on the sources of these packages and the websites involved leading to the taking down of 697 websites by the Immigration and Customs Enforcement Department. Customs and Borders Patrol took care of forfeitures occasioned by the move. Due to the combined effort of both agencies, there was a decrease in the seizures made in 2012, amounting to 22,848 as opposed to 24,792 in 2011 and indication of the decline in intellectual property related crimes. According to a report posted by the Chamber of Commerce on the 5th of January, 2013 through the Global Intellectual Property Centre’s website, 84 per cent of all the seizures made in 2012 by the two agencies originated from China and Hong Kong (GIPC Para.16). The estimated value of the counterfeits seized amounts to $1.3 billon according to statistics from the GIPC. This type of information has the possible resultant effect of making governments over scrutinise each other and cause tension in trade and political policy related aspects. From the above example, for instance, it would be understandable for the American government to pay close attention to visitors from the two states in the effort to ensure that no counterfeit goods enter its borders (Hull19). On the other hand, visitors put under such scrutiny might misinterpret the prerogative as an act of discrimination, causing the same effect to American citizens visiting the countries. Conclusion The report’s findings are largely accurate, an aspect that owing to the fact that the experts chosen in the survey are multicultural, international and conversant in different disciplines. The number of experts that contributed to the survey is also a key factor in the determination of the viability of the outlook that the report presents. The survey’s main themes are dynamism and resilience, focusing on fifty different risks and thus providing a wide angle on the issues that governments and institutions a like need to focus on in order to build on resilience. The report notes that complacency is one of the main problems that contribute to the miscalculation of the severity of risks. The justification for this fact is the cognitive tendency of people to focus on issues that they currently experience or those that they have encountered in the past in strategising for future contingency plans. In doing so, people frequently overlook slow-developing risks such as climate change and the possible occurrence of natural disasters. The resultant effect of this aspect is that it becomes expensive for governments to deal with the crises once actualised, leaving little room in budgets for the development of future risk-management strategies. Such laxity also has political effects in the long term, creating room for civil unrest when governments are unable to cater for their citizens. Social amenities are not left out, as strategies such as bailouts cause the reallocation from projects in the social sectors such as transport and communication in order to rescue the economy. The experts in this report seemingly suggest that it is wise for governments to look at their economi es as small companies look at theirs in terms of protection of future profits. However, the survey’s assumption of homogeneity is erroneous as it overlooks the uniqueness of some of the economies in the world. It works to give an overview of most of the countries and the various continents in the globe but overlooks states in developing countries that operate substantially differently from those in developed countries. Countries in Europe and America posses synchrony and similarity in legislation and would thus find it easier to put the report to test practically. However, African countries experience unique differences in the running of their economies, which is the reason most of them do not agree on international Intellectual Property legislation. Regardless, the countries can still use the report as a guide in the formation of national risk management policies. Works Cited Bernstein, Peter. Against the gods: The Remarkable Story of Risk, New Jersey: John Wiley Sons, 1998 . Print. Bogle, John. The Battle for the Soul of Capitalism, New Haven: Yale UP, 2009. Print. Conrad, Edward. Unintended Consequences, Westminster: Penguin, 2012. Print. Coppola, Damon, and George Haddow. 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Developing Countries and the WTO: Policy  approaches, New York: United Nations University Press, 2008. Print. United States Department of Homeland Security. IPR seizure statistics, 2013. Web. World Economic Forum. Global Risks Report, 2013. Web. This essay on Risk management: Global Risks Report 2013 was written and submitted by user Emelia H. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.