Organizations are needed in economic systems to establish regulations, coordinate interaction and enhance cooperation so that problems can be avoided. ... Hence, organizations are needed to correct these problems and the two extreme types of organizations are hierarchies and associations. ... Organizations often face the principal-agent problem in which the first is the controlling figure and the second takes orders from the authority. When both the principal and agent have common goals, progress is easy but if both parties disagree on some matters, problems arise thus affecting the dynamic...

• Word Count: 4711
• Approx Pages: 19
• Has Bibliography
• Grade Level: Undergraduate

In such a context part of the problem with understanding globalisation is the nature of the populist, sometime hysterical, discourse on the subject to be found not only in the media but also in a range of so-called scholarly texts that reduce 'globalisation' to a set of slogans to be either exhorted or demonised.1 Throughout the 1980-90s for many of its advocates--and when understood economically as trade liberalisation, financial deregulation and privatisation--globalisation has been an uncontestably good thing. ... Our ability to solve Keynes' three problems under conditio...

• Word Count: 9082
• Approx Pages: 36
• Grade Level: Undergraduate