Traditional Economies

1. Familistic Groupism- Practice in New traditional economies whereby firms and even guild as a whole behave like a family. Thought to be especially widespread in the Nipponese thrift and society. Old conventional Economy- Economy embedded deep down a traditional social structure, using non new-fashionede technologies, derived from ideas of Karl Polanyi. domicil simple traditional economy focused on communalistic family units joint traditional economy based on ritualistic exchanges. Seen by some as precursors of market relations, now viewed by sparing anthropologists as historically the most primitive economic outline. Redistributive dodge in which a Big Man or leader collect goods and then redistribute them. Seen by some as a precursor of a command system. New Traditional Economy economy seeking to use modern employ science and relate to the modern world economy fleck attempting to reembed the economy in a traditional social structure, usually de considerationined by a religion. Iran is an Example. Umma The Islamic community, a term derived from the Arabic word for mother, suggesting familistic groupism. Mudarabah Form of Islamic finance clear of by all clerics that involve profit sharing. The loaner provides bullion and receives a sh be of the profits.

Considered to be vulnerable to jumper cable factor problems when debtors understate profits. WTO World Trade Organization- Body realised in the mid 1900s as the successor to the popular system on Trade and Tariffs (Gatt), designed to implement and perform world(prenominal) free trade agreements. Has become the focus of demons! trations by those impertinent to globalization and the Washington consensus. LLC Limited Liability Corp. - Firm whose debts be separated from those of the firms owners. Associated with legal rulings in the US establishing the idea of a corporation as a judicial entity. The foundation of the modern corporate firm. New Deal Policies introduced by US chairman FDR during the...If you want to get a full essay, order it on our website: BestEssayCheap.com

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