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Topic Review
Dot-Com Bubble
The dot-com bubble (also known as the dot-com boom, the tech bubble, and the Internet bubble) was a historic economic bubble and period of excessive speculation that occurred roughly from 1995 to 2000, a period of extreme growth in the usage and adaptation of the Internet. The Nasdaq Composite stock market index, which included many Internet-based companies, peaked in value on March 10, 2000 before crashing. The burst of the bubble, known as the dot-com crash, lasted from March 11, 2000 to October 9, 2002. During the crash, many online shopping companies, such as Pets.com, Webvan, and Boo.com, as well as communication companies, such as Worldcom, NorthPoint Communications and Global Crossing failed and shut down. Others, such as Cisco, whose stock declined by 86%, and Qualcomm, lost a large portion of their market capitalization but survived, and some companies, such as eBay and Amazon.com, declined in value but recovered quickly.
  • 4.4K
  • 01 Nov 2022
Topic Review
Russian Financial Crisis (2014–2017)
The financial crisis in Russia in 2014–2015 was the result of the sharp devaluation of the Russian ruble beginning in the second half of 2014. A decline in confidence in the Russian economy caused investors to sell off their Russian assets, which led to a decline in the value of the Russian ruble and sparked fears of a Russian financial crisis. The lack of confidence in the Russian economy stemmed from at least two major sources. The first is the fall in the price of oil in 2014. Crude oil, a major export of Russia, declined in price by nearly 50% between its yearly high in June 2014 and 16 December 2014. The second is the result of international economic sanctions imposed on Russia following Russia's annexation of Crimea and the Russian military intervention in Ukraine. The crisis has affected the Russian economy, both consumers and companies, and regional financial markets, as well as Putin's ambitions regarding the Eurasian Economic Union. The Russian stock market in particular has experienced large declines, with a 30% drop in the RTS Index from the beginning of December through 16 December 2014. During the financial crisis, the economy turned to prevalent state ownership, with 60% of productive assets in the hands of the government. By 2016, the Russian economy rebounded with 0.3% GDP growth and was officially out of the recession. In January 2017, Russia had foreign currency reserves of around $391 billion, an inflation rate of 5.0% and interest rate of 10.0%.
  • 4.3K
  • 09 Nov 2022
Topic Review
Left-Wing Market Anarchism
Left-wing market anarchism is a strand of free-market anarchism and an individualist anarchist, left-libertarian and libertarian socialist political philosophy and market socialist economic theory stressing the value of radically free markets, termed freed markets to distinguish them from the common conception which these libertarians believe to be riddled with statist and capitalist privileges. Proponents of this approach distinguish themselves from right-libertarians and strongly affirm the classical liberal ideas of self-ownership and free markets while maintaining that taken to their logical conclusions these ideas support anti-capitalist, anti-corporatist, anti-hierarchical and pro-labor positions in economics; anti-imperialism in foreign policy; and thoroughly radical views regarding socio-cultural issues. Key theorists in this area include contemporary scholars such as Kevin Carson, Gary Chartier, Charles W. Johnson, Roderick T. Long, Chris Matthew Sciabarra, Ryan Neugebauer, Sheldon Richman and Brad Spangler. The genealogy of left-wing market anarchism, sometimes labeled market-oriented or free-market left-libertarianism, overlaps to a significant degree with that of Steiner–Vallentyne left-libertarianism as the roots of that tradition are sketched in the book The Origins of Left-Libertarianism. Carson–Long-style left-libertarianism is rooted in 19th-century mutualism and in the work of figures such as Thomas Hodgskin, French Liberal School thinkers such as Gustave de Molinari and American individualist anarchists such as Benjamin Tucker and Lysander Spooner, among others. Several left-wing market anarchists who come from the left-Rothbardian school or tradition cite Murray Rothbard's homestead principle with approval to support worker cooperatives. While with notable exceptions libertarians in the United States after the heyday of individualist anarchism tended to ally with the political right, relationships between such libertarians and the New Left thrived in the 1960s, laying the groundwork for modern left-wing market anarchism. Left-wing market anarchism identifies with left-libertarianism, a position which names several related yet distinct approaches to politics, society, culture and political and social theory, stressing both individual freedom and social justice. Unlike right-libertarians, left-libertarians believe that neither claiming nor mixing one's labor with natural resources is enough to generate full private property rights and maintain that all natural resources such as land, oil and gold ought to be held in some egalitarian manner, either unowned or owned collectively. Those left-libertarians who support private property do so under different property norms and theories, or under the condition that recompense is offered to the local or global community.
  • 4.3K
  • 30 Nov 2022
Topic Review
Impulse Buying Behavior in Fast Fashion Physical Stores
The health crisis caused by COVID-19 has affected consumption and payment patterns worldwide. Consumers have had to change their habits and deal with new sanitation guidelines and have often struggled with lengthy infrastructure closures. These factors significantly influenced both the choice of payment methods and purchase decisions made by consumers. Still, consumption patterns during the pandemic as a new social situation have not yet been thoroughly investigated. 
  • 4.3K
  • 22 Apr 2022
Topic Review
Institutional Entrepreneurship
Institutional entrepreneurship comprises the activities of agents who disrupt existing social institutions or create new ones, often to enable diffusion, especially of radical innovations, in a market. 
  • 4.3K
  • 25 Sep 2020
Topic Review
Democratic Socialism
Democratic socialism is a political philosophy that supports political democracy and some form of a socially owned economy,({{{1}}}, {{{2}}}) with a particular emphasis on economic democracy, workplace democracy, and workers' self-management within a market socialist economy, or an alternative form of decentralised planned socialist economy. Democratic socialists argue that capitalism is inherently incompatible with the values of freedom, equality, and solidarity and that these ideals can only be achieved through the realisation of a socialist society. Although most democratic socialists seek a gradual transition to socialism,({{{1}}}, {{{2}}}) democratic socialism can support either revolutionary or reformist politics as means to establish socialism.({{{1}}}, {{{2}}}) Democratic socialism was popularized by socialists who were opposed to the backsliding towards a one-party state in the Soviet Union and other nations during the 20th century.({{{1}}}, {{{2}}}) The history of democratic socialism can be traced back to 19th-century socialist thinkers across Europe and the Chartist movement in Britain, which somewhat differed in their goals but shared a common demand of democratic decision making and public ownership of the means of production, and viewed these as fundamental characteristics of the society they advocated for. In the late 19th to the early 20th century, democratic socialism was also heavily influenced by the gradualist form of socialism promoted by the British Fabian Society and Eduard Bernstein's evolutionary socialism in Germany.({{{1}}}, {{{2}}}) Democratic socialism is what most socialists understand by the concept of socialism;({{{1}}}, {{{2}}}) it may be a very broad (socialists who reject a one-party Marxist–Leninist state)({{{1}}}, {{{2}}}) or more limited concept (post-war social democracy).({{{1}}}, {{{2}}}) As a broad movement, it includes forms of libertarian socialism,({{{1}}}, {{{2}}}) market socialism,({{{1}}}, {{{2}}}) reformist socialism, and revolutionary socialism,({{{1}}}, {{{2}}}) as well as ethical socialism,({{{1}}}, {{{2}}}) liberal socialism,({{{1}}}, {{{2}}}) social democracy,({{{1}}}, {{{2}}}) and some forms of state socialism and utopian socialism, all of which share commitment to democracy.({{{1}}}, {{{2}}}) Democratic socialism is contrasted with Marxism–Leninism, which opponents often perceive as being authoritarian and undemocratic in practice.({{{1}}}, {{{2}}}) Democratic socialists oppose the Stalinist political system and the Soviet-type economic planning system, rejecting as their form of governance the administrative-command system that formed in the Soviet Union and other Marxist–Leninist states during the 20th century. Democratic socialism is also distinguished from Third Way social democracy[nb 1] on the basis that democratic socialists are committed to systemic transformation of the economy from capitalism to socialism.[nb 2] While having socialism as a long-term goal,({{{1}}}, {{{2}}}) some moderate democratic socialists are more concerned about curbing capitalism's excesses, and are supportive of progressive reforms to humanise it in the present day,({{{1}}}, {{{2}}}) while other democratic socialists believe that economic interventionism and similar policy reforms aimed at addressing social inequalities and suppressing the economic contradictions of capitalism would only exacerbate the contradictions,({{{1}}}, {{{2}}}) causing them to emerge elsewhere under a different guise.({{{1}}}, {{{2}}}) Those democratic socialists believe that the fundamental issues with capitalism are systemic in nature, and can only be resolved by replacing the capitalist mode of production with the socialist mode of production through the replacement of private ownership with collective ownership of the means of production, and extending democracy to the economic sphere in the form of industrial democracy.({{{1}}}, {{{2}}}) The main criticism of democratic socialism is focused on the compatibility of democracy and socialism. Several academics and political commentators tend to distinguish between authoritarian socialism and democratic socialism as a political ideology, with the first representing the Soviet Bloc, and the latter representing the democratic socialist parties in the Western Bloc countries that have been democratically elected in countries such as Britain, France, and Sweden, among others.({{{1}}}, {{{2}}}) However, following the end of the Cold War, many of these countries have moved away from socialism as a neoliberal consensus replaced the social democratic consensus in the advanced capitalist world.
  • 4.3K
  • 17 Oct 2022
Topic Review
Six-Gear Roadmap towards Smart Factory
The fourth industrial revolution is the transformation of manufacturing into smart manufacturing. Advanced industrial digital technologies that make the trend Industry 4.0 are considered as the transforming force that will enable this transformation. However, these technologies need to be connected, integrated and used effectively to create value and to provide insights for data driven manufacturing. Smart manufacturing is a journey and requires a roadmap to guide manufacturing organizations for its adoption. The proposed roadmap is a simple holistic management strategy for an Industry 4.0 implementation journey. It serves as a strategic practical tool for rapid adoption of Industry 4.0 technologies. It bridges the gap between the advanced technologies and their application in manufacturing industry, especially for SMEs.
  • 4.2K
  • 06 Aug 2021
Topic Review Peer Reviewed
Tourism Destination Marketing: Academic Knowledge
A holistic, multi-organization view of marketing or destination management organizations (DMOs) who must muster the best efforts of many partner organizations and individuals (stakeholders) to have the greatest success. Destination marketing is described as “a continuous, sequential process through which a DMO plans, researches, implements, controls and evaluates programs aimed at satisfying tourists’ needs and wants as well as the destination’s and DMO’s visions, goals and objectives”. The effectiveness of marketing activities depends on the efforts and plans of tourism suppliers and other entities. This definition posits that marketing is a managerial function/domain that should be performed in a systematic manner adopting and implementing the appropriate approaches, as well as suitable tools and methods. In doing so, it is believed that a tourism destination (through the organizational structure of a DMO) can attain the expected outputs beneficial to all stakeholders, i.e., the tourism industry, hosting communities/populations, and tourists/visitors. The effective implementation of tourism destination marketing principles and methods constitutes an efficient and smart pillar, a cornerstone to attain a balance/equilibrium between the perceptions and interests, sometimes conflicting, of stakeholders by minimizing the negative impacts and maximizing the benefits resulting from tourism. All the same, it is worth noting that marketing is not a panacea, nor a kind of magic stick. 
  • 4.1K
  • 13 Apr 2022
Topic Review
IBIDA
A company's earnings before interest, taxes, depreciation, and amortization (commonly abbreviated EBITDA, pronounced /iːbɪtˈdɑː/, /əˈbɪtdɑː/, or /ˈɛbɪtdɑː/) is an accounting measure calculated using a company's earnings, before interest expenses, taxes, depreciation, and amortization are subtracted, as a proxy for a company's current operating profitability (i.e., how much profit it makes with its present assets and its operations on the products it produces and sells, as well as providing a proxy for cash flow). Though often shown on an income statement, it is not considered part of the Generally Accepted Accounting Principles (GAAP) by the SEC.
  • 4.2K
  • 08 Oct 2022
Topic Review
Online Auction
An online auction is an auction which is held over the internet. Online auctions come in many different formats, but most popularly they are ascending English auctions, descending Dutch auctions, first-price sealed-bid, Vickrey auctions, or sometimes even a combination of multiple auctions, taking elements of one and forging them with another. The scope and reach of these auctions have been propelled by the Internet to a level beyond what the initial purveyors had anticipated. This is mainly because online auctions break down and remove the physical limitations of traditional auctions such as geography, presence, time, space, and a small target audience. This influx in reachability has also made it easier to commit unlawful actions within an auction. In 2002, online auctions were projected to account for 30% of all online e-commerce due to the rapid expansion of the popularity of the form of electronic commerce. Online auctions include business to business (B2B), business to consumer (B2C), and consumer to consumer (C2C) auctions. The largest online auction site is eBay, which was the first to support person-to-person transactions. Other popular examples of online auction sites include WebStore, OnlineAuction and Overstock.
  • 4.0K
  • 06 Dec 2022
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