Debate How U.S. Economy Benefit from International Trade

Debate How U.S. Economy Benefit from International Trade Although economists have been largely successful in synthesizing empirical evidence demonstrating that international trade plays an important role in contemporary economies, including the U.S. economy, the issue sill remains a hotly debated one, with proponents and critics rallying behind their presumed reasons for and against the adoption of international trade and open markets (Policy Debate, 2006).Advertising We will write a custom essay sample on Debate: How U.S. Economy Benefit from International Trade specifically for you for only $16.05 $11/page Learn More The conflict of interests is not new, if congressional debates for the adoption or elimination of trade barriers are anything to go by. This paper argues that the U.S. economy benefits immensely from international trade, especially in core areas of enhancing specialization, achieving comparative advantages, enhancing the leverage for firms to engage in innovation, and improving the living standards of American consumers. Extant literature defines international trade as the exchange of capital, goods, and services between countries, with the view to expanding markets as well as allowing for greater competition and more competitive pricing in the market. The exchange of capital, goods, and services across international borders have been shown to enhance specialization and division of labor, which in turn improves the economic outlook of a country by triggering efficient utilization of resources and lowering prices (Policy Debate, 2006). In such a context, the U.S. economy benefits from international trade in terms of lower prices and economic growth as the country continues to specialize in what it is able to do best while acquiring the things that it has difficulty in producing from its trading partners. The specialization benefit triggers yet another critical benefit of international trade for the U.S. economy, namely the possession of comparative advantages. Available literat ure demonstrates that â€Å"a comparative advantage exists when the opportunity cost of producing a good is lower in the domestic economy than in foreign economies† (Policy Debate, 2006 para. 2). Using this definition, it therefore becomes clear the U.S. economy gains from international trade by having the capacity to import goods and services at a lower opportunity cost than it would face if the products were produced in domestic markets. It is also argued that the U.S. economy benefits immensely from international trade by enhancing the leverage for domestic firms to engage in innovation.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This argument is firmly grounded on the premise that international trade provides the avenue for these firms to source for products from global partners and produce output more efficiently due to extensive foreign competition (Policy Debate , 2006), leading to innovation and creativity. Lastly, the U.S. economy benefits as international trade enables American consumers to not only have the diversity of selection, hence improving their living standards, but also to pay less for groceries and other consumer products from international markets. Some critics still believe that the U.S. should not participate in international trade or should in fact increase economic isolationism for varied reasons, including the urge to protect infant industries, protecting industries that are fundamental for national security reasons, preventing environmental degradation and labor abuse, and preventing job losses in domestic markets (Policy Debate, 2006). Although some of these reasons are valid, they cannot in anyway match the economic benefits associated with international trade as clearly demonstrated in this paper. Overall, therefore, the task should be for the government and other interested parties to come up with structures, polici es, and strategies that will facilitate the U.S. to continue reaping the benefits of international trade while ensuring that it does not harm domestic markets. Entering into trade agreements with international partners, rather than engaging in protectionist and isolationist practices, is the way to go for the U.S. economy to gain optimal benefits from international trade. Reference Policy debate: Does the U.S. economy benefit from foreign trade? (2006). Retrieved from swlearning.com/economics/policy_debates/foreign_trade.html

The True Story of Stand and Deliver essays

The True Story of Stand and Deliver essays The movie I watched in Mr. Franklins class was "Stand and Deliver". The story is about a high school mathematics teacher who takes a class of undisciplined, unmotivated and rebellious students and helps them through a year of school Garfield High in Los Angeles, California. He helps them graduate and succeed. The kids learn so much in that year that eighteen of them are able to pass a very hard college credit calculus exam. The exam is so hard that only 2% of American students pass it. The movie is based on a true story. As I was watching the movie, the teacher named Jaime Escalante gets challenged on the first day. Many students yell out to him in Spanish and in English to see if they can test him in any way. He doesnt confront them; but he reaches out to them. He befriends many students including a troubled teen named Angel. At one point, Angel asks Mr. Escalante if he needs more than one book and says that he wants to learn but his "homies" must not find out. In return Mr. Escalante is promised that he will get protection, but tells Angel instead to just come to class. The students are astonished to see, that a teacher can hang in there. So as days go on, he starts adopting ways to get the students to pay attention to him. The next day he is dressed as a chef with a meat cleaver. He slams the meat cleaver, slicing the apples in half and gets people to stop talking. He asks various students what they have. Eventually they are asked individually to answer. This is one of his tactics into having a group discussion. As he eases his way, he starts teaching by using examples out of the everyday lives of his student making them think things out for themselves. The students then learn to realize he is serious. Jaime Escalante tells his students if they want to learn they must all follow his rules. He starts by announcing that the punishments for not working hard in class are to be banished from the class....

Designing for the Dump Video Movie Review Example | Topics and Well Written Essays - 500 words

Designing for the Dump Video - Movie Review Example Electric equipment being produced have a limited life span with studies showing approximately eighteen months life span for most electronics. Increased e waste levels imply increased risks on the environment in relation to pollution. With these high rates of e waste there is pressing need for solutions to reduce levels of e waste production. Some of the solutions include recycling, donation, and innovation among others. In response to increasing e waste levels, there are suggestions on more concentration on recycling. Recycling entails taking electronics that have no use to the recycling centers for recycle. Most countries around the world have recycling centers where people can take their unused electronics. However, it is important to make sure that these recycling centers have the required mechanisms to effectively carry out their task. This requires recycling in environmentally friendly mechanisms to avoid pollution. For example, burning waste products openly is not advised due to high level of fume production. Effective recycling may involve refurbishing the unwanted electronics for reuse or breaking them down to commodity level where they can be used as raw materials. To ensure appropriate recycling processes stakeholders such as the government can come up with appropriate regulations ensuring that the recycling centers have the effective mechanisms to carry out environmentally friendly recyc ling. With environmental friendly recycling, e waste management is bound to become simpler and more effective hence reducing pollution. Additionally, e waste can be managed by donating unused equipment to people and or facilities with the need for the equipment. For example, electronics can be donated to a local family, school, and or training centers in need of the equipment. In almost every locality there are people without the abilities to regularly upgrade their electrical equipment