Economist and Nobel Laureate Joseph E. Stiglitz argues that the IMF has failed its mission to secure global economic stability. He identifies the reasons for this failure with changes in the IMF’s mission and economic policies. In his role as Senior Vice President and Chief Economist at the World Bank in the late 1990s, Stiglitz was privy to the policies and failures of the IMF. In his book, Globalization and Its Discontents, Stiglitz lays out an argument for why the IMF has failed in its mission to ensure global economic stability. Stiglitz argues that the IMF’s policies not only do not work, but often make matters worse for the countries in crisis. He highlights several problematic policies:

Capital market liberalization. The IMF pressures countries that petition for IMF loans to open their markets to outside investment capital. Rather than help matters, this approach often makes matters worse as it destabilizes the economy of the country as well as the global economy. Investors may invest huge sums in a country only to pull those investments at a moment’s notice, causing acute economic crises.

Latin America as the template. Stiglitz says that many of the the ideas of the “Washington Consensus” were based on the experience with Latin America. The economic growth in these countries had not been sustained, governments had let budgets run out of control, and loose monetary policy had led to rampant inflation. The belief of the Washington Consensus was that this had happened as a result of excessive government intervention in the economy. So, if government intervention was the problem, then government intervention should be limited. The Washington Consensus pushed for policies such as capital market liberalization. Stiglitz notes that even if this approach was appropriate for some Latin American countries, it did not make sense to apply this policy blindly to other countries in very different situations where this kind of policy might make matters much worse.

Insensitivity to strength of local markets. Stiglitz says that the IMF policy forcing rapid trade liberalization has not only not worked, but does not follow lessons learned from history. He notes the cases of the U.S. and Japan. Both countries had trade protection policies in place until their industries were strong enough to compete in a global market. However, IMF policies forcing trade liberalization on a developing country where industries are not strong enough can actually cause more harm. Local industries could not compete, and rising interest rates made job creation virtually impossible. Says Stiglitz, “Liberalization has, thus, too often, not been followed by the promised growth, but my increased misery.”

Taxation without Representation. Stiglitz notes that even though the IMF is a public institution, funded by money from taxpayers around the world, it is not held accountable to the interests of these taxpayers. He identifies the problem of governance as one of the prime “underlying factors” for problems with the IMF.   (Center on Law & Globalization)

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Identify a criticism made by Joseph Stiglitz in regards to the IMF, World Bank, or globalization. In your response, provide the following:

Summarize Stiglitz's criticism and provide a citation to the article you selected (include website address if applicable)

Using two or more academic sources, dispute or support Stiglitz's criticism (provide full citations to sources)

Using the binomial distribution formula, find the possibility that a family that has 13 children has 10 girls.

Is orthodox neoclassical economics founded in methodological individualism? Does this incline to any particular politics?

---You are advising the small town of Blackrock regarding future plans for 1,000 acres of forest located near the town. The owner of the forest has offered to sell the land to the town for $2,000,000. The forest provides many recreational benefits for local residents, as well as being the home of much wildlife including an endangered species. After conducting several studies you estimate that the annual recreational and environmental benefits will be $100,000 per year.

Using a discount rate of 1% explain your answer for following questions a) and b), and support your answers with appropriate calculations either using a spreadsheet (e.g. Excel) or via formulas please. Thank you!

a) Considering only the next 50 years, is buying the forest a good idea for the town? Why or why not?

b) What is the maximum amount the town would be willing to pay the landowner to lease the land for 50 years? Explain why.

In a German study from the 1930s, the population of a large town is compared to the size of the local flocks of storks. The study stated a linear correlation coefficient of 0.97. Which of the following is a correct interpretation of this value?

a. These two variables show strong positive correlation. An increase in the number of storks in the area is related to a statistically significant increase in the population in the town.

b. These two variables show weak positive correlation. An increase in the number of storks in the area is related to an increase in the population of the town, but the increase is not statistically significant.

c. These two variables show strong negative correlation. An increase in the number of storks in the area is related to a statistically significant decrease in the population of the town.

d. These two variables show weak negative correlation. An increase in the number of storks in the area is related to a decrease in the population of the town, but the decrease is not statistically significant. 10 points QUESTION 2

Why do you think governments across Latin America, particularly in Brazil, are importing US-based policing strategies? Why politicians, police leaders, and think tanks are exporting these strategies? And what are the potential consequences of this export in Brazil and in the US?

1. How did the cartels in Latin America manage to limit the flow of drugs in different markets?
2. Why is the drug trade is so profitable for illicit drug dealers?
3. What is money laundering? How would drugs gangs do money laundering?

What happened to the women that participated in the wars of independence in Latin America?

a. They became powerful symbols.

b. We do not know anything about them.

c. Most of them died in battle.

d. People were, and continue to be, indifferent to them.

Can someone summary this artical by one paragraph for me, please? Thank you

Teen pregnancy is an important issue for several reasons. For example, there are health risks for the baby and children born to teenage mothers are more likely to suffer health, social, and emotional problems than children born to older mothers. Also, women who become pregnant during their teens are at increased risk for medical complications, such as premature labor, and social consequences.

According to the Centres for Disease Control and Prevention (CDC), the teen birthrate in the United States was 13.5 births for every 1,000 teens in 2009. In 2013, early estimates put the birthrate at 12.5—a decrease of about 7.5 percent.

Since 1990, pregnancy rates in teenage girls aged 15 to 17 declined by almost 50 percent and pregnancy rates in older teens decreased by about 33 percent. Pregnancies in girls 15 to 17 accounted for more than one-quarter of all teen pregnancies in 2012, Recent studies show that although teen pregnancies continuing to decline in the United States, rates for African American teens and Hispanic teens are two to three times higher than in Caucasian teens.

In April 2013, the CDC reported that nearly one in five teen births is a repeat birth—meaning that it's at least the second birth for the teenage mother. Although the repeat teen birth rate in the United States declined by more than 6 percent between 2007 and 2010, it remains high—especially in American Indian/Alaskan Natives (21.6 percent), Hispanics (20.9 percent), and non-Hispanic African Americans (20.4 percent). In Caucasian teens, the repeat birth rate is 14.8 percent.

Studies show that although most teen parents who are sexually active use contraception during the postpartum period, only about 22 percent use "most effective" birth control (> 99 percent effective). Babies born as result of a repeat teen pregnancy are even more likely to be born premature—early and at a low birth weight.

Declining teen pregnancy rates are thought to be attributed to more effective birth control practice, newer methods of birth control (e.g., long-acting, reversible contraception), and decreased sexual activity among teens.

Still, teenage pregnancy rates remain high and approximately 1 million teenage girls become pregnant each year in the United States and about 13 percent of U.S. births involve teen mothers. To lower teen pregnancy rates, older children must be educated about sex and sexuality and about the consequences of pregnancy.

Consequences of Teen Pregnancy

Teenage births are associated with lower annual income for the mother. Eighty percent of teen mothers must rely on welfare at some point.

Teenage mothers are more likely to drop out of school. Only about one-third of teen mothers obtain a high school diploma.

Teenage pregnancies are associated with increased rates of alcohol abuse and substance abuse, lower educational level, and reduced earning potential in teen fathers.

In the United States, the annual cost of teen pregnancies from lost tax revenues, public assistance, child health care, foster care and involvement with the criminal justice system is estimated to be about $7 billion.

Vallerina Ltd manufactures girls’ clothing. They have only one product being produced in 2014, girls ballerina dresses. Vallerina Ltd has 25 staff and is an established business with a good reputation. Overhead is applied on the basis on sewing machine hours. A predetermined overhead application rate of $5.85 was established for 2014. During the production of 800 dresses, raw materials totalled $12,500; direct labour totalled $8,500 and there were 3500 sewing machine hours during the period.

1. Give two examples of indirect costs and two examples of direct costs for Vallerina Ltd.
2. How would the allocation base for overheads be decided?
3. In one sentence, state what happens to the over or under allocated overhead at the end of the period?
4. Calculate Vallerina Ltd’s cost of goods manufactured and the product cost per dress for 201
5. How do managers calculate the predetermined overhead application rate?