The regularity of the division of labor is due to a historically objective process that creates the prerequisites for the economic, political and intellectual development of mankind. “Although the division of labor has not existed since yesterday,” noted the French sociologist E. Durkheim (1858-1917), “but only at the end of the last century did societies […]
Tag: connections
The Relationship Between Unemployment and Inflation: The Phillips Curve
The English economist Phillips in the late 50s found a relationship between the unemployment rate and wage growth. Analyzing data for more than a hundred years, he came to the conclusion that there is a certain level of unemployment (6-7%), at which the level of wages is constant and its increase is zero. When unemployment […]
Management of foreign economic activity
A firm or organization can manage its foreign economic activity using six main management functions: 1. Planning – drawing up short-, medium-term and long-term plans for the development of foreign economic activity, as well as developing business plans for new foreign economic projects 2. Organization – creation (formation) of organizational units of the company for […]