Realism of Traditional Trade theories Essay Example | Topics and Well Written Essays - 1000 words

Realism of Traditional Trade theories - Essay Example It is stated that the factor of the comparative advantage is considered to be the most crucial aspect, which moulds the international trade. (Fedotovs 2010) Thus the writer emphasizes on the fact that comparative type of advantage that has come into play due to globalization, is presently the most important aspect for any country, from a practical as well as theoretical point of view. Many traditional theories as well as models, had been effectively formulated so as to explain the comparative advantage and these have ever since been scrutinized to bring out the evidences empirically. But it is an irony that all these theoretical models have only produced results, which were totally contradictory. Thus the writer attempts to generate empirical evidence by taking the case of Latvia, which is a small country and a member of the European Union. Through the analysis of the empirical evidence, the writer focuses on the present two basic concepts of the International Trade. The two very fam ous models are the Heckscher-Ohlin theorem of factor endowment and the Ricardian model, which explains the concept of comparative advantage. ... This efficiency is really possible, since the countries need to concentrate only on the sectors which they are strong in and concentrate mainly to strengthen those areas. In the case of Latvia this becomes a reality, since the application of the comparative advantage emphasized in the Ricardian model is very much possible. Indeed Latvia has been very successful in following such a trade policy, with respect to the foreign countries strictly abiding by the terms of the international trade. (Fedotovs 2010) Applying the Ricardian Model of Comparative Advantage to Latvia The Ricardian theory strongly believes that with respect to a particular product, any country in the present world due to globalization has got a very good comparative advantage, when compared to other countries if the opportunity cost that is incurred during the production of that good, among a group of goods is very less in that particular country. Thus this can very well be applied in the case of Latvia and is found t o validate the Ricardian theories strength. (Fedotovs 2010) Strengths of Ricardian Model In fact Latvia had joined the European Union only seven years back and when it is compared with the other member states, it was having lesser productivity and it was not so economically developed. But the surprising thing was that, this country had a comparative advantage when the productivity ratio in the case of certain goods was compared, with the other member states. To have a very good advantage with respect to particular product, a country had to have a very high productivity ratio when compared to other countries, as per the Ricardian Model. In the case of Latvia it was very well found out that, timber was the export

Social Network criminal Investigation Essay Example | Topics and Well Written Essays - 2500 words

Social Network criminal Investigation - Essay Example It was owing to their usability that their use was taken into accordance for every possible usage. As a result of this presently we see information and technology based devices around us everywhere. Human beings cannot execute even a few hours of their lives without the involvement of their personalized high tech devices. Since the use of everything is prone to both use and misuse it is imperative that certain ethical and moral boundaries be marked with respect to actions demonstrating a line between what actions and permissible and which are not. When these demarcations are done officially, they are referred to as laws. Laws govern each and every mode of life. Since information technology and more specifically computing based device are well knit with human daily routines, the use of these devices must also be governed by laws. What Is Law? Officially in the words of the Department of Justice, Canada, law can be quoted as, â€Å"Rules made by government are called "laws." Laws are meant to control or change our behaviour and, unlike rules of morality, they are enforced by the courts. If you break a law - whether you like that law or not - you may have to pay a fine, pay for the damage you have done, or go to jail.† (Department of Justice- Canada, 2009) The HISTORY of law dates back to the history of mankind. Ever since man has existed, so have laws. They have evolved with the evolution of man himself. Each law was formulated every time its need would arise. The modern society has its own set of laws that govern it. Though they may not be entirely different from those dating back to a few hundred years they sure have innumerable new additions to them. These new developments have emerged with the evolution of man himself. The present technology prone human society should have in itself a number of laws that govern it. Since the technology based world uses computing devices everywhere it is the need of the hour that the misuse of the same be taken into not ice and limited by enforcing relevant laws. The present study is an attempt to enlighten the need for laws with respect to social networks. SOCIAL NETWORKS What are social networks? For a novice it may be really hard to explain what this terminology refers to, however for a technology literate it may be said that, A social Network is a virtual Social structure that is composed of different nodes. These nodes are connected together via a network. The internet is the most widely used network of the current times since it is universally accessible. Thus each computing device may serve as a node when connected to the internet. There are various websites over the internet that offer their web portals as domains upon which each of these nodes can register themselves and maintain their virtual profile. It is then via these personalized profiles that social networks flourish and contacts establish. This entire domain of social networking has a number of pros and cons. Though its pros outnum ber the cons associated with it but the pros themselves are immensely grave in nature. Where social networks assist in globalization and make physical boundaries immaterial, they are also responsible for the development and flourishing of a number of criminal activities. These activities often go unnoticed when they are in relation with the very adored social networks and this makes them even more dangerous and harmful. Figure 1: (Levy, 2011) False profiles can very easily with