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California Effect
The California effect is the shift of consumer, environmental and other regulations in the direction of political jurisdictions with stricter regulatory standards. The name is derived from the spread of some advanced environmental regulatory standards that were originally adopted by the U.S. state of California and eventually adopted in other states. This spread is supported by large corporations, which stand to gain as they have the resources necessary to deal with the regulations, unlike their smaller competitors. This process is the opposite of the Delaware effect; this is simply the race to the bottom in which different countries (or states in the case of Delaware) are simply reducing their regulatory burden to attract more of the businesses into their jurisdiction. The assumption behind the Delaware effect is that in the competitive regulatory environment, governments have to remove their regulatory barriers to allow easier functioning of their corporations and to attract new c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California
California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the most populated subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles area and the San Francisco Bay Area are the nation's second and fifth most populous urban regions respectively, with the former having more than 18.7million residents and the latter having over 9.6million. Sacramento is the state's capital, while Los Angeles is the most populous city in the state and the second most populous city in the country. San Francisco is the second most densely populated major city in the country. Los Angeles County is the country's most populous, while San Bernardino County is the largest county by area in the country. California borders Oregon to the north, Nevada and Arizona to the ea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Delaware
Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Delaware Bay, in turn named after Thomas West, 3rd Baron De La Warr, an English nobleman and Virginia's first colonial governor. Delaware occupies the northeastern portion of the Delmarva Peninsula and some islands and territory within the Delaware River. It is the second-smallest and sixth-least populous state, but also the sixth-most densely populated. Delaware's largest city is Wilmington, while the state capital is Dover, the second-largest city in the state. The state is divided into three counties, having the lowest number of counties of any state; from north to south, they are New Castle County, Kent County, and Sussex County. While the southern two counties have historically been predominantly agricultural, New Castle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Delaware Effect
Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Delaware Bay, in turn named after Thomas West, 3rd Baron De La Warr, an English nobleman and Virginia's first colonial governor. Delaware occupies the northeastern portion of the Delmarva Peninsula and some islands and territory within the Delaware River. It is the second-smallest and sixth-least populous state, but also the sixth-most densely populated. Delaware's largest city is Wilmington, while the state capital is Dover, the second-largest city in the state. The state is divided into three counties, having the lowest number of counties of any state; from north to south, they are New Castle County, Kent County, and Sussex County. While the southern two counties have historically been predominantly agricultural, New Castle is more u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Race To The Bottom
Race to the bottom is a socio-economic phrase to describe either government deregulation of the business environment or reduction in corporate tax rates, in order to attract or retain usually foreign economic activity in their jurisdictions. While this phenomenon can happen between countries as a result of globalization and free trade, it also can occur within individual countries between their sub-jurisdictions (states, localities, cities). It may occur when competition increases between geographic areas over a particular sector of trade and production. The effect and intent of these actions is to lower labor rates, cost of business, or other factors (pensions, environmental protection and other externalities) over which governments can exert control. This deregulation lowers the cost of production for businesses. Countries/localities with higher labor, environmental standards, or taxes can lose business to countries/localities with less regulation, which in turn makes them want t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Externality
In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced goods involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example. The Air pollution#Health effects, cost of air pollution to society is not paid by either the producers or users of motorized transport to the rest of society. Water pollution from mills and factories is another example. All consumers are all made worse off by pollution but are not compensated by the market for this damage. A positive externality is when an individual's consumption in a market increases the well-being of others, but the individual does not charge the third party for the benefit. The third party is essentially getting a free product. An example of this might be the apartment above a bakery receiving the benefit of enjoyment from smellin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Vogel (professor)
David Vogel (born 1947) is the Soloman P. Lee Distinguished Professor in Business Ethics at the University of California, Berkeley. He is a member of both the Political Science Department and the Haas School of Business, and is Editor of the ''California Management Review''. He was the Jean Monnet Chair, European University Institute, in 1994 and the BP Chair in Transatlantic Relations, there in 2000. At INSEAD he was the Novartis Professor of Management and the Environment in 2000-2001 and the Shell Fellowship in Business and the Environment in 2002. His books include '' Trading Up'' (1995) about globalization, ''The Dynamics of Regulatory Change: How Globalization Affects National Regulatory Policies'', (ed. with Robert Kagan 2002), and ''The Market for Virtue'' (2005) about corporate social responsibility. He has written over 50 scholarly articles. Vogel has a BA in political science from Queens College City University of New York and a PhD in politics from Princeton Universi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Convergence (economics)
The idea of convergence in economics (also sometimes known as the catch-up effect) is the hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies, and in the Solow-Swan growth model, economic growth is driven by the accumulation of physical capital until this optimum level of capital per worker, which is the "steady state" is reached, where output, consumption and capital are constant. The model predicts more rapid growth when the level of physical capital per capita is low, something often referred to as “catch up” growth. As a result, all economies should eventually converge in terms of per capita income. Developing countries have the potential to grow at a faster rate than developed countries because diminishing returns (in particular, to capital) are not as strong as in capital-rich countries. Furthermore, poorer countries can replicate the production methods, technologies, and institutions of developed countries. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Workforce
Global workforce refers to the international labor pool of workers, including those employed by multinational companies and connected through a global system of networking and production, foreign workers, transient migrant workers, remote workers, those in export-oriented employment, contingent workforce or other precarious work. As of 2012, the global labor pool consisted of approximately 3 billion workers, around 200 million unemployed. Structure of global labour New international division of labor The global workforce, or international labor pool, reflects a new international division of labor that has been emerging since the late 1970s in the wake of other forces of globalization. The global economic factors driving the rise of multinational corporations—namely, cross-border movement of goods, services, technology and capital—are changing ways of thinking about labor and the structure of today's workforce. With roots in the social processes surrounding the shift ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brussels Effect
The Brussels effect is the process of unilateral regulatory globalisation caused by the European Union ''de facto'' (but not necessarily ''de jure'') externalising its laws outside its borders through market mechanisms. Through the Brussels effect, regulated entities, especially corporations, end up complying with EU laws even outside the EU for a variety of reasons. Etymology The term ''Brussels effect'' was coined in 2012 by Professor Anu Bradford of Columbia Law School and named after the similar California effect that can be seen within the United States. Cause The combination of market size, market importance, relatively stringent standards and regulatory capacity of the European Union can have the effect that firms trading internationally find that it is not economically, legally or technically practical to maintain lower standards in non-EU markets. Non-EU companies exporting globally can find that it is beneficial to adopt standards set in Brussels uniformly through ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Globalization
Globalization, or globalisation (English in the Commonwealth of Nations, Commonwealth English; American and British English spelling differences#-ise, -ize (-isation, -ization), see spelling differences), is the process of foreign relations, interaction and integration among people, companies, and governments worldwide. The term ''globalization'' first appeared in the early 20th century (supplanting an earlier French term ''mondialization''), developed its current meaning some time in the second half of the 20th century, and came into popular use in the 1990s to describe the unprecedented international connectivity of the Post-Cold War era, post-Cold War world. Its origins can be traced back to 18th and 19th centuries due to advances in transportation and Information and communications technology, communications technology. This increase in global interactions has caused a growth in international trade and the exchange of ideas, beliefs, and culture. Globalization is primari ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade
Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold economically liberal positions, while economic nationalist and left-wing political parties generally support protectionism, the opposite of free trade. Most nations are today members of the World Trade Organization multilateral trade agreements. Free trade was best exemplified by the unilateral stance of Great Britain who reduced regulations and duties on imports and exports from the mid-nineteenth century to the 1920s. An alternative approach, of creating free trade areas between groups of countries by agreement, such as that of the European Economic Area and the Mercosur open markets, creates a protectionist barrier between that free trade area and the rest of the world. Most governments still impose some protectionist policies t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Invisible Hand
The invisible hand is a metaphor used by the British moral philosopher Adam Smith that describes the unintended greater social benefits and public good brought about by individuals acting in their own self-interests. Smith originally mentioned the term in his work '' Theory of Moral Sentiments'' in 1759, but it has actually become known from his main work ''The Wealth of Nations'', where the word itself is mentioned only once, in connection with import restrictions. Similar ideas had already been presented before Smith by other Enlightenment thinkers, such as Anders Chydenius in his work '' The National Gain'' (1765) and Bernard Mandeville. Liberal thinkers wanted to show that society functions without collapsing even without the old hierarchical order of the feudal era. The concept was first introduced by Adam Smith in ''The Theory of Moral Sentiments'', written in 1759. The exact phrase is used just three times in Smith's writings. Smith may have come up with the tw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
