Mercantilism, Economic Nationalism, and US Trade Policy
Mercantilism and Economic Nationalism
Mercantilism is a historical and theoretical perspective that views international economic relations as a zero-sum game in which states compete for a finite amount of wealth and power. The state plays a central role in protecting national sovereignty and accumulating resources, especially through trade surpluses, protectionist policies, and colonial expansion. Key thinkers such as Thomas Mun and Jean-Baptiste Colbert promoted state intervention to maximize exports
Read MoreWTO Dispute Settlement and Global Trade Dynamics
The Dispute Settlement Mechanism
A dispute is initiated when a government alleges a violation of WTO rules. The Dispute Settlement Body (DSB) initially encourages governments to resolve the conflict through direct consultations.
- If consultations are unsuccessful, the DSB creates a panel to investigate the complaint.
- The panel reviews the evidence and submits a final report to the DSB.
- Both governments can appeal the panel’s decision.
- If an appeal is requested, the DSB creates an appellate body. This
NABARD & SIDBI Roles, Initiatives, and Banking Principles
NABARD: Mission and Core Functions
The National Bank for Agriculture and Rural Development (NABARD) is India’s apex development financial institution, established to provide and regulate credit for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts, and other rural crafts. Established on July 12, 1982, under the NABARD Act, 1981, it was created based on the recommendations of the B. Sivaraman Committee (CRAFICARD) to take over the agricultural
Read MoreEmployee Representation: Rights, Guarantees, and Union Structure
Employee Representation in the Company
Workers can participate in the future of the company through their representatives. This participation is channeled through two main forms:
- Staff Delegates and Works Councils (Unitary Representation).
- Trade Unions (Collective Representation).
The right of workers to participate in the company is recognized in the Constitution (Article 129.2) and the Workers’ Statute (Article 4.1 g)).
Workers have the right to meet in assembly at the workplace, provided conditions
Read MoreBalance of Payments: Theory, Policy, and Institutions
Balance of Payments: Theory and Policy
The Balance of Payments, also known as Balance of International Payments (BoP), of a country is the record of all economic transactions between the residents of the country and the rest of the world in a particular period. Transactions are made by individuals, firms, and government bodies; they include payments for the country’s exports and imports of goods, services, financial capital, and financial transfers.
Balancing Mechanisms
If the current account is in
Read MoreEssential Concepts in Consumer Behavior and Marketing Strategy
Consumer Definitions and Behavior Fundamentals
Key Definitions: Consumer, Customer, and Client
- Consumer: The individual who uses or consumes a product or service.
- Customer: The individual or organization that purchases a product or service.
- Client: The individual or organization that receives personalized or professional services, often involving an ongoing relationship.
Defining Consumer Behavior
Consumer behavior encompasses all activities associated with the purchase, use, and disposal of goods and
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