LASAApplying Cultural Theoretical Approaches - Coursework Example

Stable countries have more elites hence an expanded consumer pool than unstable ones. Governments oriented to upgrading the lives of their citizens create business environments in which foreign investors can venture into hence building the economy. It is evident that the best economies reside in countries with good governance and democracy (Hwang, Seiler & Seiler, 2005). The legal framework of a country determines its position economically. Rigid retrogressive legal frameworks derail investments and deprive a country of economic growth.

States with suitable legal frameworks benefit from revenue generation from investment and realize better economic growth. The flexibility of the social and cultural trends of a given population determines the ease of setting up investment projects within the population. Some cultures are so primitive and cannot fit in the contemporary economic competition. For instance, a culture that prohibits education of one gender is retrogressive and fails to discover the potential of education for all. Such populations remain economically poor while those accepting change enjoy massive economic gains (Telycote, 2008).

Some economies are more endowed than others through various ways. Developed nations are endowed with fine technologies, better infrastructures, and education while less developed ones lack or enjoy limited of these. Others are endowed with huge riches in minerals and agriculture. Such endowed economies enjoy better economies while the rest languishes in poverty. Technological advancement is another aspect of the global economy of today. Developed countries possess fine technologies useful in driving their economies forward.

Such countries are making huge revenues from such technologies, and they are also able to solve various economic challenges. In the last decade, global warming has been the topic with several catastrophic effects felt on several