Saturday, February 22, 2020

Why was the Washington consensus irresistible in Latin America Essay

Why was the Washington consensus irresistible in Latin America - Essay Example Within the current globalized system, the importance of international political economy and the means by which decisions of economic importance are engaged, the overall level of relevance is maximized. As a function of this, the following analysis will engage the reader with an understanding of why the â€Å"Washington Consensus† came to be so widely accepted and agreed upon by a litany of different Latin American countries. Although merely referencing the Washington Consensus, and the determinants that it necessarily imposes, would be an effective start, the analysis will also integrate with an in-depth discussion of each of the 10 points which engenders the Washington consensus as a means of understanding the ultimate attraction that so many Latin American countries had to this particular economic integration and approach (Marangos, 2008). Further, the unique drawbacks and tacit inabilities that the Washington Consensus will also be discussed with regards to the way in which stakeholders within this particular issue realize that it was in their best interest to accept the Washington consensus even with its tacit level of drawbacks. ... cit level of understanding with respect to world affairs, international relations, and political theory will necessarily be engaged and hopefully understood (Arestis, 2004). History/Background Firstly, before delving into the ultimate rationale behind why so many Latin American countries chose to integrate so fully and completely with Washington consensus, it must be understood that key macro economic factors throughout Latin America provoked and invoked a level of greater cooperation and willingness to attempt a different approach than might have been realized that any other point in history (Babb, 2013). By the time of the 1980s, Latin America, in addition to much of the rest of the world, was still reeling from the economic repercussions of the global malaise that had existed for almost a decade during the 1970s. Whereas the United States, and the rest of the world for that matter, felt the impact of the drastic increase in fuel costs that took place during the late 1970s and earl y 1980s, the impact that this had upon developing nations were even more profound (Duncan, 2003). This stands to reason due to the fact that the United States and other developed nations had a level of wealth that could be leveraged against a sudden price fluctuation with respect to a inelastic demand. What ultimately prompted the oil crisis during the 1970s had to do with the rising levels of debt, inaccessibility of foreign credit, and a restriction in global trade (Ruckert, 2006). Whereas the fuel crisis of the 1970s and early 1980s was of course of relevance, it must further be understood that this particular issue was a significant impact with regards to developing nations around the world; especially Latin American countries. The rationale behind this is due to the fact that Latin

Wednesday, February 5, 2020

Introduce what the Hurricane is to element school students Essay

Introduce what the Hurricane is to element school students - Essay Example to 600 miles across and have strong winds spiraling inward and upward at speeds of 75 to 200 mph.† This kind of weather usually enters what is called an Area of Responsibility and lasts sometimes for more than a week because it is passing over the open ocean at the slow speed of 10-20 miles per hour. It usually moves in a counter-clockwise direction over the warm ocean waters in the Northern Hemisphere, but then moves clockwise when it is in the Southern Hemisphere. While the hurricane is passing over the warm water, it starts to gather heat and energy with the help of water evaporation which also increases the power of the storm. Remember our grandparents often telling us that there is a â€Å"lull before the storm†? That is exactly what happens before a hurricane unleashes its deadly winds and water over the population of an area. The â€Å"eye† of the storm is what our grandparents normally describe to us which is known to have light winds and fair weather. But the minute the storm hits land, this calm is replaced by heavy rain, strong winds, and large waves that come crashing onto land. This is what destroys our surroundings. The hurricane, which is known as a typhoon in the Western Pacific, tends to dissipate or disappear by weakening and drying up once it passes over large and long bodies of land. It dies because the storm feeds on warmth and water, without it, the storm will not be able to exist. Not all hurricanes are created equally though. That is why the Saffir Simpson Hurricane Scale helps our weather professionals determine the strength of the hurrican before it hits land. the warnings range from the lowest wind speed of Category 1 all the way to the destructive Category 5 hurricane. However, a hurricane is destructive regardless of the category because the destruction will rely mostly upon the areas hit and what hazards exist in that area (What is a Hurricane?). In the United States, we have what is called a Hurricane Season that lasts from May