Thursday, September 12, 2019

Global issues Essay Example | Topics and Well Written Essays - 500 words - 3

Global issues - Essay Example The disclosure should also be backed by the independent monitoring of pay and working conditions. Violators of the laws when found should be corrected in ways that protect the workers and their jobs. There are moral and economic implications that come with the decision of not being concerned about sweatshops operating in developing countries because they provide quality clothes. The moral implication is that human dignity is not upheld. It provides the basis for the obligation of the employer to the employee. Respecting the dignity of workers requires the adherence to the laws of labor, meeting the safety standards and provision of a wage. Many aspects of the American lifestyle are attributed to the trade with Asia. Commerce with developing countries like China is crucial to its economic prosperity. Their manufacturing investment in developing countries is in the tens of billions of dollars and they also have plants that they operate on a contract basis. Hence the developing countries help in building up their economy. There are three major types of economic systems-traditional, command and market. Most of the countries in the world can be identified with one of them. In the traditional economy, the allocation of resources is based on rituals, habit or custom. The main advantage is that everyone knows which role to play. There is little uncertainty over what to produce, how to produce or for whom to produce since one follows their customs. The main disadvantage is that it discourages new ideas and new ways of carrying out things. The command economy is whereby a central authority is responsible for what, how and for whom they should produce products. The main advantage is that the system can drastically change direction in a short period of time. The main disadvantage is that it is not designed in a way that will meet the wants of the consumers even though

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