Case Study 1
Reference: Hutt, M. & Speh, T. (2014), Business Marketing Management: B2B (11th edition), South-Western Cengage Learning.
Chapter 6 – Case Study page. 171-172
Schwinn: Could the Story Have Been Different?
At its peak, Schwinn had more than 2000 U.S. employees, produced hundreds of thousands of bicycles in five factories, and held 20 percent of the market. Today, however, Schwinn no longer exists as an operating company. The firm, founded in 1895, declared bankruptcy in 1992 and closed its last factory one year later. The Schwinn name is now owned by Canada-based firm and all of the bikes are manufactured in Asia. Harold L. Sirkin, a senior vice president at Boston Consulting Group, argues that Schwinn's story could have been different. He outlines two alternative pathways that might have provided a happier ending to the Schwinn story.
Alternative Reality One: Aim High
Under this scenario, Schwinn decided to center on midrange and premium segments of the market, leaving low-end bicycles for competitors. However, the firm determined that it could substantially reduce cost by turning to low-cost partners in rapidly developing economies for labor-intensive parts. Schwinn interviewed hundreds of potential suppliers and locked the best ones into long-term contracts. Schwinn then reconfigured its operations to perform final assembly and quality inspection in the United States. Still, the changes forced Schwinn to make some painful choices- nearly 30 percent of the workforce was laid off. However, such moves allowed Schwinn to produce bikes at half the previous cost, maintain a significant position in the midrange bicycle market, and leverage its product design capabilities to build a strong position for its brand in the high-end market. As a result, Schwinn is extremely competitive in the U.S. market and is a major exporter of premium bikes to China and Europe. Because of this growth, Schwinn now employs twice as many people in the United States as it did before outsourcing began.
Alternative Reality Two: If You Can't Beat Them, Join Them
Schwinn went on the offensive and moved as quickly as possible to open its own factory in China. By bringing its own manufacturing techniques and by training employees in China, Schwinn was able to achieve high quality and a much lower cost. However, the decision meant that 70 percent of Schwinn's U.S. workers would lose their jobs. But Schwinn kept expanding its China operations and soon started selling bicycles in Chinese market, not only at the low-end but also to the high-end, luxury segment, leveraging its brand name. Schwinn then extended its global operations and reach by adding new facilities in Eastern Europe and Brazil. The company has sold over 500,000 bikes in new markets.
My question is
How distinctive types of international strategy and the essential components of a global strategy are applied to this case study? Apply the theory studied in chapter 6 as well in other chapters to answer the question and also support the answer with other academic resources. (500 words).
it says that it is from chapter 6 of the Book Business Marketing Management (11 edition), Chapter 6.
In: Operations Management
Mrs. Ayesha Said is a 39-year-old Muslim Arab housewife and mother of six who immigrated to the United States from a rural town in southern Iraq 2 years ago. Her mother-in-law and her husband, Mr. Ahmed Said, accompanied her to the United States as participants in a post–Gulf War resettlement program, after they spent some time in a Saudi Arabian refugee camp. Their relocation was coordinated by a local international institution that provided an array of services for finding employment, establishing a household, enrolling the children in public schools, and applying for federal aid programs.
Mr. Ahmed, who completed the equivalent of high school, works in a local plastics factory. He speaks some English. He plans to attend an English-language class held at the factory for its many Iraqi employees. Mrs. Ayesha, who has very little formal schooling, spends her day cooking and caring for her children and spouse, with the assistance of her mother-in-law. She leaves their home, a three-bedroom upper flat in a poor area of the city, only when she accompanies her husband shopping or when they attend gatherings at the local Islamic center. These events are quite enjoyable because most of those using the center are also recently arrived Iraqi immigrants. She also socializes with other Iraqi women by telephone. Except for interactions with the American personnel at the institute, Mr. Ahmed and Mrs. Ayesha Said remain quite isolated from American society. They have discussed moving to Detroit because of its large Arab community.
Four of the Said children attend public elementary schools, participating in the English as a Second Language (ESL) program. Mr. Ahmed and Mrs. Ayesha are dismayed by their children’s rapid acculturation. Although Muslims do not practice holidays such as Halloween, Christmas, Valentine’s Day, and Easter, their children plead to participate in these school-related activities.
Mrs. Ayesha is being admitted to the surgical unit after a modified radical mastectomy to treat breast cancer. According to the physician’s notes, she discovered a “lump that didn’t go away” about 6 months ago while breast-feeding her youngest child. She delayed seeking care, hoping that inshallah, the lump would vanish. Access to care was also limited by Mrs. Ayesha’s preference for a female physician and her family’s financial constraints—that is, finding a female surgeon willing to treat a patient with limited financial means. Her past medical history includes measles, dental problems, headache, and a reproductive history of seven pregnancies. One child, born prematurely, died soon after birth. As you enter the room, you see Mrs. Ayesha dozing. Her husband, mother-in-law, and a family friend, who speaks English and Arabic and acts as the translator, are at her bedside.
In: Nursing
Human Resources-See case below and give an expert opinion of questions that follow. In your own words please. 100 words or more.
As immigrants continue to come to the United States from many different cultures and religions, differences will cause some challenges and problems. One area where this has occurred is with Islamic culture and religion in the meat processing industry.
A plant (a fresh chicken facility) belonging to Tyson Foods, Inc., in Shelbyville, Tennessee, is one example. The company hired about 250 people from Somalia. A long-running civil war in their country has forced many Somalis to settle in the United States as refugees, and many Somalis are Muslim.
The union at the plant requested replacing the paid holiday Labor Day with Eid ul-Fitr, a religious holiday marking the end of the Muslim holy month of Ramadan. The request was brought up as part of negotiations for a new labor contract, and was part of the overall contract proposal approved by union members. The plant is often open on Labor Day anyway to meet consumer demand during the barbeque season. Along with holiday pay, the workers also received time and a half for hours worked on Labor Day.
The EEOC says employers may not treat people more or less favorably because of their religion. However, religious accommodation may be warranted unless it would impose an undue hardship on the employer. Flexible scheduling, voluntary time swaps, transfers, and reassignments are possible means of accommodation, along with other policies and practices.
Tyson’s consideration of exchanging Labor Day for Eid ul-Fitr brought strong reactions from non-Muslim workers and the general public. The union voted again on the issue and overwhelmingly voted to reinstate Labor Day as a paid holiday. The company’s solution was to have eight paid holidays, including a “personal holiday” that could be either the employee’s birthday, Eid ul-Fitr, or another day approved by the employee’s supervisor. That compromise was acceptable to the workers.
Another company that faced similar issues is JBS-SWIFT, a meat packer with plants in Grand Island, Nebraska, and Greeley, Colorado. That company also hired many Somali Muslims. The issue there was prayer time. In Greeley, the Muslim workers demanded time to pray at sundown—a requirement during Ramadan. The plant works three shifts. More than 300 workers walked out when they were told they could not have the time to pray. More than 100 were fired later, not for walking out but for not returning to work. The walkout touched off protests from workers of different faiths who thought the request for religious accommodation was too much.
The EEOC ruled that JBS-SWIFT had violated the civil rights of the employees it had fired. The company was found to have denied religious accommodation and retaliated against workers who complained. JBS-SWIFT has since set up special prayer rooms at its plants and allows Muslim workers to meet their religious obligations, which include prayers five times daily.
Questions:
What is the legal basis for the EEOC to hold that JBS-SWIFT had violated the employees’ civil rights?
Contrast the solutions to the Tyson situation and the JBS-SWIFT situation. Which is likely to have the greatest positive impact on the company and why?
In: Operations Management
Case: Religious Accommodation?
As immigrants continue to come to the United States from many
different cultures and religions, differences will cause some
challenges and problems. One area where this has occurred is with
Islamic culture and religion in the meat processing industry.
A plant (a fresh chicken facility) belonging to Tyson Foods, Inc.,
in Shelbyville, Tennessee, is one example. The company hired about
250 people from Somalia. A long-running civil war in their country
has forced many Somalis to settle in the United States as refugees,
and many Somalis are Muslim.
The union at the plant requested replacing the paid holiday Labor
Day with Eid ul-Fitr, a religious holiday marking the end of the
Muslim holy month of Ramadan. The request was brought up as part of
negotiations for a new labor contract, and was part of the overall
contract proposal approved by union members. The plant is often
open on Labor Day anyway to meet consumer demand during the
barbeque season. Along with holiday pay, the workers also received
time and a half for hours worked on Labor Day.
The EEOC says employers may not treat people more or less favorably
because of their religion. However, religious accommodation may be
warranted unless it would impose an undue hardship on the employer.
Flexible scheduling, voluntary time swaps, transfers, and
reassignments are possible means of accommodation, along with other
policies and practices.
Tyson’s consideration of exchanging Labor Day for Eid ul-Fitr
brought strong reactions from non-Muslim workers and the general
public. The union voted again on the issue and overwhelmingly voted
to reinstate Labor Day as a paid holiday. The company’s solution
was to have eight paid holidays, including a “personal holiday”
that could be either the employee’s birthday, Eid ul-Fitr, or
another day approved by the employee’s supervisor. That compromise
was acceptable to the workers.
Another company that faced similar issues is JBS-SWIFT, a meat
packer with plants in Grand Island, Nebraska, and Greeley,
Colorado. That company also hired many Somali Muslims. The issue
there was prayer time. In Greeley, the Muslim workers demanded time
to pray at sundown—a requirement during Ramadan. The plant works
three shifts. More than 300 workers walked out when they were told
they could not have the time to pray. More than 100 were fired
later, not for walking out but for not returning to work. The
walkout touched off protests from workers of different faiths who
thought the request for religious accommodation was too much.
The EEOC ruled that JBS-SWIFT had violated the civil rights of the
employees it had fired. The company was found to have denied
religious accommodation and retaliated against workers who
complained. JBS-SWIFT has since set up special prayer rooms at its
plants and allows Muslim workers to meet their religious
obligations, which include prayers five times daily.
What is the legal basis for the EEOC to hold that JBS-SWIFT had violated the employees' civil rights?
Contrast the solutions to the Tyson situation and the JBS-SWIFT
situation. Which is likely to have the greatest positive impact on
the company and why?
In: Operations Management
Moveover Motors Ltd (MML), located in Melbourne, produces and sells a medium-sized family car called the Moveover Magnet. The company has been producing cars for the Australian market for over 30 years and began exporting a limited number of cars to the United States about 10 years ago. MML is a subsidiary of a Polish multinational that has not been satisfied with the losses that the company has been making in the last few years. The parent company in Poland is threatening to close the Australian factory unless MML can produce a profit in the next year of operations. The factory currently has a capacity to produce 50,000 cars per year but all realistic estimates of its market size, including the exports to the United States, suggest that it will not sell more than 30,000 cars per year in any of the next 5 years.
Jane Woodall, MML's CEO, was very concerned about MML's poor profitability. She asked Lester Bush, financial controller and Max Lemond, production manager, to see if there were ways to reduce costs and improve profitability.
Lester analysed the cost structure of MML and found the following:
Manufacturing costs:
Variable cost- $15,000 per car
Fixed cost- $450,000,000 for 30,000 cars, or $15,000 per car
Selling and administrative expenses: Variable cost- $5,000 per car
Fixed cost- $180,000,000
During the year end 30 June 2017, MML sold 28,000 Moveover Magnets for $40,000 each.
Lester considered the fact that the capacity of the factory significantly exceeds the production levels and realised that significant savings could be made in both the production and administrative fixed expenses if some of the factory were disposed of. He estimated that by reducing the capacity to 30,000 cars per year, the fixed manufacturing costs would fall to $300 million and the fixed administrative costs would decrease to $160 million.
Before Lester could report back to Jane, Max returned with a proposal to reduce the variable costs to 30% of revenues by reducing the costs MML incurred for safe disposal of wasted metals. Lester was concerned that this would expose the company to potential environmental liabilities and he let Max know it.
Lester: Max, we would need to estimate the potential environmental costs and include them in your Analysis.
Max: You can't do that. We are not violating any laws. There is some possibility that we may have to incur environmental costs in the future, but if we bring it up now, this proposal will not go through because our senior management always assumes these costs to be larger than they turn out to be. The market is tough, and we are in danger of shutting down the company. I don't want all my colleagues to lose their jobs. The only reason our competitors are making money is because they are doing exactly what I am proposing...
3. Discuss the ethical issues involved
A) Who are the stakeholders?
B) Is the production manager, Max, acting ethically? Which of the principles set out in the Code of
Ethics for Professional Accountants have been violated?
C) What are Lester's ethical obligations?
D)What should Lester do? Critically evaluate each course of action.
In: Accounting
Study the case below and answer the questions given at the end:
BMW: Marketing Subsidiaries in Foreign Markets
BMW is a German manufacturer of high-quality motor cars, About half of its sales are in the German market, with the other half from exports. In reappraising Its markets and distribution strategy both in Germany and abroad, the company believed that its multiple layers of distribution were causing inefficiencies in its marketing efforts.
BMW Germany
Originally, BMW had a dual distribution system in Germany. It employed a strong wholesaler system along with direct distribution by BMW to large dealers. This system seemed to work effectively because BMW's market share in Germany doubled in 10 years. However, the company found share competitive distortions with this dual approach. For example, the wholesalers that received the same commission for wholesale transactions as for retails sales had gone into direct competition with retailers. The larger direct dealers sometimes sold more than the wholesalers but received the smaller dealer discount. The problems arising from BMW's distribution strategy caused the company to abolish its German wholesaler network. BMW expanded its direct dealer system to replace the business formerly handled by the wholesalers.
BMW Abroad
The company was planning to initiate a more direct selling method in its foreign markets as well as at home. It realized the need for care in order not to disturb existing import channels. However, the company believed that it was desirable to replace the present independent importers in foreign markets with company-owned marketing subsidiaries. The independent importers buy the cars from Germany and then resell to accredited dealers --- who sell them to the public, In moving to company-owned marketing subsidiaries, BMW was following the international marketing approach of Volkswagen and Daimler-Benz (with Mercedes). One of the major arguments presented for going direct was that BMW could save the 15 percent commission the company paid to its importer distributors in foreign markets.
France
In line with its new policy of more direct distribution in foreign markets, BMW formed its first marketing subsidiary in France. BMW Import SA replaced the former independent French importer (which had been called BMW France but now was renamed SFAM France). SFAM France continued to sell BMW cars to consumers through its retails outlets in Paris and in the provinces. Sales to dealers henceforth were made only by BMW Import SA, the company's wholly owned marketing subsidiary. This seemed to be successful in France.
United States
In implementing its new direct marketing approach in the U.S marker, BMW faced two alternatives. It could either take-over its present U.S. importer-distributor or establish a new and separate BMW marketing subsidiary as in France. The company wondered which of these alternatives would be best for the important U.S. market. BMW had about 250 dealers in the United States.
a) Do you see any disadvantage for BMW in going to direct distribution in foreign markets?
b) What advantages might the company realize by operating through its own marketing subsidiaries?
c) In marketing the decision for the U.S. market, what questions would you ask? What variables would you consider?
In: Operations Management
Pepsico is in the retail beverage industry. It has operations in over 200 countries and territories and employees 267,000 people (Pepsico, 2019). Just under half of those employees are in the United States.
Management of foreign exchange risks
Pepsico discusses how they manage their foreign exchange risk in the Risk Management Framework section of their 10-K. 43% of their net revenues from last year came from operations outside of the United States (Pepsico, 2019). 2018 had an unfavorable foreign exchange, which reduces Pepsico’s net revenue by 1%. The unfavorable exchange came from the devaluing of Russian rubles, Turkish liras, and Brazilian reals against the US dollar.
Pepsico manages their risk for fluctuation of exchanges rates through strategies that include global purchasing programs, productivity incentives and hedging. Any cash flows from risk reduction activities are included on their cash flow statement as operating activities.
Hedging types and instruments
Pepsico’s strategies for hedging include using derivatives and debt instruments (Pepsico, 2019). The most common derivative they use are forward contracts with terms of no more than two years. The debt instruments utilized to maintain favorable interest rates are rate swaps, cross currency interest swaps, and treasury locks.
Effectiveness of foreign exchange hedges
Pepsico has become more successful over the last several years effectively utilizing hedges. This can be seen when analyzing the foreign exchange loss. The better they become at predicting changes, the better hedge positions that can get on the market. In the end this will lead to smaller losses on foreign transactions and higher net revenue.
Required:
Discuss the differences noted in how IBM handles foreign exchange risk. Speculate as to why there are differences based on what has been researched about IBM and what was posted about Pepsico .
In: Finance
Write a narrative description highlighting the demographic changes seen in the Cumberland community in Illinois to explain the complete Data Template below for the general public. ? Demographics: Include the total number and percent of each in the Data Template below to gather data for both the county, state, and national data from both the 2000 and 2010 Census to show how the county has changed from the last Census as well as how it compares to the demographics of the state and the nation. The data template MUST be included as an appendix in your paper. ? Total Population (include the percent change in population from the 2000 to the 2010 Census) ? Age Distribution (use other similar parameters if unable to find the exact same in your research) ? Under 1 Year ? 1 to 5 Years ? 6 to 13 Years ? 14 to 17 Years ? 18 to 24 Years ? 25 to 49 Years ? 50 to 64 Years ? 65 to 84 Years ? 85 Years and Older ? Females 15 – 44 Years ? Gender ? Median Age ? Racial & Ethnic Composition ? Hispanic ? White (Non-Hispanic) ? Black ? Asian/Pacific Islander ? Socioeconomic Status (include total number and percentage of each) ? Median Household Income ? Persons Below 100% of Poverty Level ? Persons Below 200% of Poverty Level ? Households with Social Security Income ? Households with Public Assistance Income ? Unemployed Persons 16 Years & Older ? High School Graduates 25 Years & Older ? College Graduates 25 Years & Older.
Community Description Data Template
|
Data |
Cumberland Community |
Illinois State |
United States |
|||
|
2010 Census |
2000 Census |
2010 Census |
2000 Census |
2010 Census |
2000 Census |
|
|
Total Population: |
||||||
|
Percent Change: |
||||||
|
Age Distribution |
||||||
|
Under 5 years: |
8,217 |
7,986 |
140,022 |
|||
|
5 to 9 years: |
8,338 |
142,385 |
||||
|
10 to 14 years: |
8493 |
143,728 |
||||
|
15 to 19 years: |
8350 |
147,923 |
||||
|
20 to 24 years: |
7,884 |
150,014 |
||||
|
25 to 34 years: |
16,574 |
274,514 |
||||
|
35 to 44 years: |
17,682 |
246,450 |
||||
|
45 to 54 years: |
21,243 |
277,343 |
||||
|
55 to 59 years: |
||||||
|
60 to 64 years: |
24,501 |
266,439 |
||||
|
65 to 74 years: |
16,033 |
170,263 |
||||
|
75 to 84 years: |
6,786 |
91,142 |
||||
|
85 years and over: |
2,599 |
33,826 |
||||
|
Females 15 – 44 years: |
||||||
|
Gender |
||||||
|
Male: |
71,32 |
63, 246 |
1,029,757 |
|||
|
Female: |
73,913 |
66,064 |
1,050,328 |
|||
|
Median Age: |
43.90 |
36.80 |
37.40 |
|||
|
Data |
Community |
State |
United States |
|||
|
2010 Census |
2000 Census |
2010 Census |
2000 Census |
2010 Census |
2000 Census |
|
|
Racial & Ethnic Composition |
||||||
|
Hispanic: |
74, 650 |
63,405 |
978,189 |
|||
|
White (Non-Hispanic): |
47,394 |
543,687 |
||||
|
African-American: |
1,097 |
826 |
42,515 |
|||
|
Asian/Pacific Islander: |
1,675 |
1,672 |
28,578 |
|||
|
Socioeconomic Status |
||||||
|
Median Household Income: |
||||||
|
Persons Below 100% of Poverty Level: |
||||||
|
Persons Below 200% of Poverty Level: |
||||||
|
Households with Social Security Income: |
32.48% |
30.93% |
29.33% |
|||
|
Households with Public Assistance Income: |
2.18% |
2.72% |
2.82% |
|||
|
Unemployed Persons 16 & Older: |
8.94% |
9.58% |
9.17% |
|||
|
High School Graduates 25 Years & Older: |
||||||
|
College Graduates 25 Years & Older: |
||||||
In: Operations Management
a) Assume that yesterday (April 22, 2020) the interest rate on dollar deposits in the U.S. was 0.02 (2%) per year and the interest rate on euro deposits was 0.02 (2%) per year. Investors yesterday expected that the exchange rate in one year (April 22, 2021) will be 2.02 dollars for one euro.
What was the current exchange rate in terms of dollars per euro yesterday (April 22, 2020)?
Illustrate your answer, using a graph with the rates of return (in dollars terms) on the horizontal axis, and the exchange rate on the vertical axis.
b) Now, assume that today (April 23, 2020) the Federal Reserve lowers the interest rate on dollar deposits to 0.01 (1%), and the European Central Bank lowers the interest rate on euro deposits to zero (0%). There is no change in the expected exchange rate a year from now - that is, on April 23, 2020 investors expect that the exchange rate on April 23, 2021 will be 2.02 dollars for a euro.
What is the current exchange rate today (April 23, 2020), right after the reductions in the interest rates? Has the dollar depreciated or appreciated between April 22 and April 23? Why? Is your answer consistent with the textbook’s claim that a reduction in the interest rate on dollar deposits should cause a depreciation of the dollar?
Illustrate your answer, using a new graph with the rates of return (in dollars terms) on the horizontal axis, and the exchange rate on the vertical axis.
c) What is the effect of the change in the exchange rate above (from April 22 to April 23, 2020) on exports of American goods to Europe? And on exports of European goods to the United States? Explain. (You don’t need to provide numbers, only the general direction of the changes: going up or going down). Who will benefit and who will lose from these changes in the United States?
d) Now, assume American exporters successfully lobby the Federal Reserve, and convince it to adopt a new monetary policy that will boost American exports. Thus, on April 24 the Federal Reserve decides to change the interest rate on dollar deposit once again, with the objective to cause a 1% depreciation of the dollar with respect to the euro (that is, a 1% increase in the amount of dollars required to buy a euro). Assume that the European Central Bank does not react to the new actions by the Federal Reserve, and that investors’ expectations about the future value of the euro remain unchanged (that is, they expect that the exchange rate on April 24, 2021 will be 2.02 dollars for a euro). What interest rate should the Federal Reserve select in order to achieve its objective? Explain.
Illustrate your answer, using a new graph with the rates of return (in dollars terms as usual) on the horizontal axis, and the exchange rate on the vertical axis.
e) Now assume that, unlike in part d), investors, when they hear that the Federal Reserve intends to devaluate the dollar today, also adjust their expectations about the future: now, they expect that the exchange rate on April 24, 2021 will be 2.0402 rather than 2.02. What interest rate should the Federal Reserve select now, on April 24, 2020, in order to achieve its goal of depreciating the dollar by 1% from April 23 to April 24? Explain (no need to illustrate this answer graphically, just give the answer in words).
In: Economics
Pick any two questions (each question should be half a page)
10. Globalization seems to have brought benefits for almost everyone, though one exception is African farmers. Blocked from global food markets by trade restrictions, Africans cannot take part in the prosperity globalization has brought to the rest of the world. Many of the health crises such as AIDS, malnutrition, and even starvation are clearly linked to poverty. Moreover, many of Africa’s nations are politically unstable. If African farmers had better access to global markets, what would the implications be for African societies, nations, and economies?
11. Explain how our standard of living depends upon our level of real GDP per person but there might not be a one-to-one relationship between the standard of living and real GDP per person. Give examples of things that can effect one but not the other.
12. "If country A has a higher level of real GDP per person than country B, then people in Country A must enjoy a higher standard of living than people in Country B." Is this statement true or false and explain your answer.
13. Explain the relationship(s) between full employment, cyclical unemployment, the natural unemployment rate, and potential GDP.
14. For the past decade, the unemployment rate in Western Europe has been higher than the unemployment rate in the United States. Based on this fact, is the natural unemployment rate larger in Western Europe or in the United States? Why might the natural rates differ between the two areas?
15. In the late 1970s, the inflation rate was over 10 percent per year. Many home mortgage lending institutions had mortgages outstanding that had been made in the 1960s at nominal interest rates of around 5 percent per year. Many of these lending institutions failed; what can explain the high failure rate of lenders in the late 1970s?
16. CPI is not necessarily a reflection of how all consumers experience inflation. How does your personal market basket compare to that of the average American household? Given that college students may rely on more fixed incomes than most groups (financial aid), why do price trends pose more of a problem for this group?
17. Policymakers (especially the Federal Reserve) tend to focus more on core inflation when designing policies. Why core inflation is a useful measurement for the government or economists?
18. Classical growth theory is based on the work of Thomas Malthus, an economist from the early nineteenth century. Very few modern-day economists would refer to themselves as Malthusians. The persistence of this viewpoint represents what one can only refer to as the triumph of despair over experience. At some point in history, Malthusian theory might have been applicable. But certainly since the industrial revolution, parents have chosen to have fewer children. And this shift only gets stronger as economic growth advances. Is the assumption correct that the population growth rate is primarily determined by economic growth with a positive relationship?
19. Is there convergence or divergence in standards of living amongst nations?
20. What is the role of economic growth for economic inequality?
In: Economics