THE GLOBE INVEST

Globalization can be defined in several ways. One broad definition is: “A complex web of social processes that intensify and expand worldwide economic, cultural, political and technological exchanges and connections.” Globalization can also be simply described as the movement of goods, ideas, values, and people around the world. The term was first used in the early 1950s to recognize the increasing interdependence of economies and societies around the world. Globalization, however, has existed for centuries by way of evolving trade routes, including the slave trade, colonization, and immigration. Today, we are divided into separate countries, each looking out for its own national self-interest. At the same time, other entities such as multinational corporations cross borders, which leads to global economic and political integration. Many benefits can result from global integration and interdependence, but we also need to heed its negative effects. We shall explore the topic of

Humans are considered rational beings. Every once in a while greed and exuberance trumps rationale we end up with a Bubble. Bitcoin is a bubble and it will fall precipitously. Here’s why: Some Economics Value of any product is arrived at through a process that matches demand and supply. If there is a lot of demand for a product and few people offering it, the price go up. There is a greater perceived value for it since the supply is limited — Everyone who wants it, cannot have it.  The vice versa is also true. But as with most things in life there are certain exceptions to this rule. High-end luxury products have an aspirational value and hence the higher the price the higher the demand tends to be. These are called Veblen goods. There are also Giffin goods where this effect is seen with inferior goods. Either way, in all of these cases price is a consequence of consumption. There is another case where prices can be made to rise artificially, through hoarding and creating ar

Sacked as finance minister by Robert Mugabe after delivering a budget deemed insufficiently radical, Chinamasa faced an extended period in the wilderness.  By 7 December, much to his surprise and that of others, the 70-year-old found himself back in parliament, delivering the first keenly awaited budget of the post-Mugabe era following the coup that brought Emmerson Mnangagwa to power. For Zimbabwean businesses, foreign investors, and international financial institutions alike, the budget was the first major test of whether the new administration would deliver on the promise of Mnangagwa’s bold inaugural speech and break with the disastrous economic policies of the past. Keen to capitalise on rare international goodwill, Chinamasa promised to cut spending, re-engage with international lenders and re-invigorate the flagging private sector by rolling back indigenisation. While the plans have been welcomed as a positive start, analysts say that Mnangagwa’s government will have to de

 By Tunde Obadina More than three decades after most African nations became independent, there is no consensus on the legacy of colonialism.  With most African countries still only tottering on their feet and many close to collapse, some people ask whether the problem is due to Africa's colonial experience or inherent adequacies of the African?  For apologists of colonialism the answer is simple. Whatever may have been the shortcomings of colonial rule, the overall effect was positive for Africa. Sure, the colonial powers exploited Africa’s natural resources but on the balance, colonialism reduced the economic gap between Africa and the West, the apologists argue.  Colonialism laid the seeds of the intellectual and material development in Africans. It brought enlightenment where there was ignorance. It suppressed slavery and other barbaric practices such as pagan worship and cannibalism.  Formal education and modern medicine were brought to people wh