Purchasing power

About: Purchasing power is a research topic. Over the lifetime, 2714 publications have been published within this topic receiving 36866 citations. The topic is also known as: adjusted for inflation.

How to avoid middle income traps ? evidence from Malaysia

Abstract: Malaysia's structural transformation from low to middle income is a success story, making it one of the most prominent manufacturing exporters' in the world. However, like many other middle income economies, it is squeezed by the competition from low-wage economies on the one hand, and more innovative advanced economies on the other. What can Malaysia do? Does Malaysia need a new growth strategy? This paper emphasizes the need for broad structural transformation; that is, moving to higher productivity production in both goods and services. This paper examines productivity growth for Malaysia at the sectoral level, and constructs several measures of the sophistication of goods and services trade, and puts these comparisons in a global context. The results indicate that Malaysia has further opportunities for growth in the services sector in particular. Modernizing the services sector may provide a way out of the middle income trap, and serve as a source of growth for Malaysia into the future.

Scaffolding Social Studies for Global Awareness.

Abstract: Today's students are entering a world increasingly characterized by economic, political, cultural, environmental, and technological interconnectedness (1) More and more, their lives will be shaped by the dynamics of a global economy, technological innovation, environmental change, and changing demographics (2) At the same time, our students, their families and communities are having a profound effect on people and places across the planet The immense purchasing power of Americans shapes global demand for raw materials, services, and products from petroleum and high tech metals to seafood and specialty coffees, from inexpensive textiles and clothing to ever-changing electronics When less than 5 percent of the world's people consume 35 percent of the world's resources, there is a compelling need for young Americans to understand how they both affect and are affected by changes in the world's use of land, water, and other finite resources, the development of new products, transfer of capital, and the daily lives of people across the planet (3) Today's students need to see the world as one interrelated system in which increased demand for particular goods and services, lack of jobs, or acceleration of local religious and ethnic conflicts often lead to regional and global movement of people, increased urbanization, conflicts (over identity, land, and resources), and other societal and political problems (4) Yet how many students sitting in our social studies classes today understand how the world affects them or how they and others in their community and nation are shaping the future of the planet? In the world of 2008, our students need global awareness in order to survive (5) In this article, I share some ways social studies teachers in the United States have worked to scaffold knowledge, skills, and dispositions that over time create global awareness and worldmindedness--habits of the mind that foster knowledge, interest and engagement in global issues, local/global connections, and diverse cultures In my research, I have found that teachers share several assumptions about students becoming globally aware First, there is the assumption that closed-mindedness and parochialism must be addressed if students are to understand the world and its people An open mind is fundamental to acquiring the knowledge that leads to global awareness Second, teachers expect students to master a multi-disciplinary, global body of knowledge about how the world works (global economic, political, environmental, socio-cultural systems) if they are to understand why the world is changing so quickly, how power is wielded, and how individuals or groups affect change Final assumptions rest on relevance and authentic work In teaching students about their connectedness to the larger world, teachers believe they must make use of what is most relevant and meaningful to their students' lives They select resources, research, and assessments to be authentic in applying the knowledge and skills needed in the real world so that students are continually modeling what globally-minded adults would be expected to do (6) Below are three strategies teachers use to scaffold the development of global awareness and engagement: (1) reflection on one's own cultural assumptions and the frameworks in which other people make sense of the world, (2) learning from people and scholarship in other countries, and (3) making connections to engage as citizens of the world These are synergistic as often activities and assessments bring them together or reinforce previous learning with more complex tasks Reflection on Cultural Lenses When students enter our classrooms, they bring with them cultural beliefs and values that shape their view of events, issues, and people under study This "cultural baggage" may have ethnic, racial, gendered, historical, religious, geographic, linguistic, political, environmental, or other complex dimensions …

Ownership effects of fractional reserve banking: an Islamic perspective

Abstract: Purpose – The purpose of this paper is to show that fractional reserve banking (FRB) has implications for the ownership structure of assets in the economy that violates the Islamic principles of ownership.Design/methodology/approach – This is a theoretical paper that looks into the works of Islamic scholars on the issue of ownership that are based on Qur'an principles and the traditions of the Prophet, and evaluates the FRB from that perspective.Findings – The conclusion of the paper is that money creation through FRB is creation of purchasing power out of nothing which brings about unjust ownership transfers of assets, from the economy to the bank effectively paid for by the whole economy through inflation. This transfer of ownership is not based on human effort by taking on legitimate risks and neither with the knowledge nor the consent of the initial owners. This violates the ownership principles in Islam and is tantamount to theft. It also has the elements of riba. Islamic governments should therefore...

“The Net Generation”:Children and Young People, the Internet and Online Shopping

Abstract: Children have long been acknowledged as playing an important role within family purchasing decisions, with their ability to directly and indirectly influence family purchasing. In addition to their role within the family, children are seen as an important group of consumers in their own right due to their individual purchasing power. Over recent years the use of the Internet by children has increased and they are commonly portrayed as confident and able users of Internet technology. It is important to understand how the Internet will be used by children as an additional shopping medium and to explore the issues surrounding this use. This paper reports on data collected during an in-depth study exploring family purchasing behaviour and the role of the Internet. The findings discussed address a specific and important aspect of the data, namely the use of the Internet as a shopping medium by children for purchases for themselves. A number of important themes were identified including; use of the Internet as ...