Religion and Society Essay Example | Topics and Well Written Essays - 1500 words - 1

Religion and Society - Essay Example This led to the conclusion that Protestantism in Europe helped to shape capitalism thereby having a profound effect on economic systems across Europe. I hold the opinion that religion and economy are closely linked and both have a major contribution in the society. Religion affects how people relate with each other and themselves, thereby having a huge impact on the views, opinions and beliefs of individuals with regard to other activities that they are engaged in within their societies. These opinions, worldviews and beliefs are then transferred in business where people exchange goods and services using recognized media of exchange. Religious values such as love, respect, trust hard work and other doctrines such as salvation, sin and predestination also shape how people view ownership, use and disposal of property (Johnstone, 2007). Religion encourages people to be diligent and take care of the surroundings in a way that pleases the Supreme Being, through hard work. Max Weber, realizing the influence of religion on individuals sought to analyze how such influence affected how individuals perceived the economy and business in general. In his theory, Max Weber attempts to elucidate the emergence of Europe and its uniqueness as a dominant economic force globally. Protestantism forms the core of his theory on the origins of capitalism as a major economic model. Capitalism emerged in the 17th century; concurrently with the Protestant reformation, that was taking place in Europe (Johnstone, 2007). During this time, religion was very important to most people and had a lot of influence in their actions and ways of thinking. According to Weber, capitalism began from religion and not from any technological developments that had started springing in the society at the time. Calvinist religions in Germany in particular were very fundamental in shaping the economic system in Germany and across Europe. Weber believed that the work ethic of

Patterns of Trade A Closer Look at Two Countries Essay

Patterns of Trade A Closer Look at Two Countries - Essay Example This led to very close ties with the Middle East, South America, US, Singapore, Japan and other South East Asian countries in terms of trade. The failure of a number of South East Asian economies such as Hong Kong, Thailand and Indonesia in the 1990s had little impact on the economy of Australia. Even the political events in the neighboring countries, such as commotions in Fiji and Indonesia, have had no effect on Australia's international trade (IMF, 1999). Australia mainly exports minerals such as gold, aluminum, iron ore and coal as well as transport equipment, machinery, cotton, wheat and meat. The largest importer of Australia's products is Japan, which bought products worth about $9 billion in 1999. The US was second after importing products worth about $4 billion. Other major importers are Italy, Malaysia, Indonesia, UK, Singapore, China, Hong Kong, Taiwan, New Zealand and South Korea. As can be seen, eight out of the top twelve importers of Australian products are from Asia (IMF, 1999). Australia mainly imports clothing, aircraft equipment, pharmaceutical and medical products, oil products, telecommunications equipment, computers and office machinery, transport equipment; mainly motor vehicles, and machinery. The US is the largest exporter of its products to Australia, having exported about $10 billion worth of products in 1999. Australia also gets lots of imports from Malaysia, Italy, Singapore, Taiwan, Indonesia, New Zealand, South Korea, Germany, China, the UK and Japan (IMF, 1999). The recent value depreciation of the Australian dollar against the US dollar could affect its current trade deficit, since Australian's exports have become cheaper than its imports. On the other hand, a weak Australian currency gives it a competitive advantage over the US, Canada and other countries that sell raw materials to Japan among other countries. The main disadvantage is that the imported goods become expensive since more money is required to buy the same product. Australians may therefore find imported goods too costly and even stop buying them, leading to a decrease in these imports while the exports continue increasing. If this continues, it could lead to a drop in the deficit level (OECD, 2003). Japan Table 1: Japan's international trade Year Value of Imports Value of Exports 1975 US$58 US$56 1980 US$141 US$130 1985 US$130 US$177 1990 US$235 US$288 1995 US$336 US$443 1998 US$280 US$388 Source: IMF Financial Statistics Yearbook 1999 Japan benefited from big trade surpluses in the 1980s mainly due to its diversified manufacturing sector and its restrictive tariffs and regulations that locked out international competition in order to protect its local market (Krugman, 1992). However, Japans trading partners and competitors such as the US forced it open up its economy in the 1980s, resulting in increased imports and decreased surpluses in the 1990s, reaching US$ 144 in 1994 and dropping further to US$84 two years later (IMF, 1999). Japan mainly imports fishery products, agricultural products, fuel, minerals, raw materials, machinery and equipment. On the other han