Business

Globalization and corporate social responsibility
What happens when government control or dominate a notional economy
When the government controls or dominates the national economy, there will not be much growth of the private sector. The people will be dependent entirely on the government for jobs and livelihood. The effect of the free market cannot be seen.
What are the obvious global institutions that have been developed since the Second World War
Some of the global institutions that have been developed after the Second World War are the World Bank, United Nations, UNICEF, World trade organization, WWF etc
What are the benefits and drawbacks of the capitalist economic system
In a capitalist economic system the individuals or businesses are self motivated as they work for profits and the development of many such individuals and businesses results in the development of the whole nation. Another advantage with the capitalist economic system is a free market economy. One of the main disadvantages found with the capitalist economic system is that it is found to increase the disparity between the rich and the poor.
What happens when command economies transform into market economies How is the transition best undertaken
When the command economies transform into market economies, they tend to enter into a growth phase improving the state of their economy. This transition happens when the governments open up their economy through liberalization reforms.
Is there a relationship between open markets and political freedom
Open markets seem to have a relatively higher political freedom. For instance an open market economy like the United States enjoys a relatively higher political freedom as compared to a command economy like China.
What happens when national governments restrict their domestic economies from open participation in (and dependence on) foreign trade
When the national governments restrict their domestic economies from the open participation through the following of policies such as protectionism, their economic growth gets hampered.
What are some of the volatile economic issues that have influenced how and why governments chose one economic philosophy over another
Some economic issues that have influenced the governments in choosing one economic philosophy over the other are wars, bad rule of the emperors (like in case of Russia), a huge gap between the rich and the poor, situations such as social revolutions etc
What has been the impact of Foreign Direct Investment (FDI) on Development countries
The FDIs into a developing country bring a lot of capital inflows into the economy. This helps in the development of infrastructure in a developing country. This also creates a lot of jobs for the people of the developing nation.
In what way has technology had an impact on the global economy
Technology has drastically altered the way the global economies work. Technology has given rise to outsourcing of non core business processes from the developed countries to the developing countries where the cost of labor is relatively cheaper.