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Disparity in Economies - Book Report/Review Example

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The paper “Disparity in Economies” will look at a change in the economy of the USA through growth and innovation leading improved life expectancy. The challenge has led to the overall structure of the world hence different economies focusing attention on the entrepreneurs…
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Disparity in Economies
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Disparity in Economies

Download file to see previous pages... The challenge has led to the overall structure of the world hence different economies focusing attention on the entrepreneurs.
No silver bullet answer exists for disparity in economies; however, entrepreneurship is a route out of poverty that allows people endowed with little education, capital and experience to re-invent life. Therefore, a serious process of building the economy requires innovative entrepreneurs of objective interests with the ability to see one thing differently. Evidently, innovation is a key instrument in Entrepreneurship. In as much as no economy can succeed only with entrepreneurs the connection between ideas from entrepreneurs and products creates an economy. Notably, most successful economies have innovative entrepreneurs, refined, and established firms. Small firms have no ability to enjoy the economies of scale hence incapacitated to compete and produce commercially useful products. The difference affects reliability and affordability of goods and services, thus reshaping economies. Most successful economies have a great mix of economic entrepreneurs and established firms without many generations.
The antagonistic war between communism and capitalism reached a pivotal point in 1989 when Berlin Wall fell. Capitalism slammed communism; however, it left many curious questions on how to recognize or identify its looks. Understanding Capitalism is difficult as most economies become profound socialists in the long run. Different types of capitalism exist ranging from state guided, Oligarchic, entrepreneurial, and Big-firm capitalism. Evidently, no single economy has a unitary type of capitalism. State-guided capitalism involves control from the government through policies and decisions. ...Download file to see next pagesRead More
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