Starbucks Leadership Development

Starbucks Leadership Development Starbucks Coffee Company has an issue in leadership development. Leadership development is a very important issue in all the organization. Starbucks is an American global coffee company. On 30 March 1971, three partners that are Jerry Baldwin, Zev Siegl, and Gordon Bowker are the first Starbucks opened in Seattle, Washington. (Garza, n.d) In 1982, Howard Schultz was joins the Starbucks. He was visits Milans famous espresso bars when he on a business trip in Italy. Their popularity and culture were impressed by Howard Schultz and he sees their potential in Seattle. Starbucks expand beyond Seattle in 1990s. Starbucks Coffee Company now is the largest coffeehouse in the world. They are began selling fresh roasting, high-quality coffee bean and roasting accessories. Starbucks is having their store in 61 countries including the Western country and Asian country. (Starbucks Coffee Company, 2009) Starbucks apply the drive in the early leadership theory. Leaders of Starbucks are set out a high effort level in their organization. Their leaders have self-confidence so that many followers look to them for an absence of self-doubt. Howard Schultz is a intelligence leader in Starbucks. He was intelligence to gather, synthesize, and a lot of information to solve problem and make a correct decision. Starbucks also apply a Path-Goal Theory. Starbucks mission is to inspire and nurture the human spirit. They always provide a good quality of their coffee. For their partner, they always respect and dignity together to hold each other to that standard. They also always full of humanity in their stores even just for a moment so that their customers are enjoy. They are takes their responsibility to be a good neighbors and enjoy the success that rewards their shareholders. (Starbucks Coffee Company, 2009) Build a Starbucks as the most recognized and respected brand in the world is the companys objective. Starbucks Coffee Company is plans to continue rapidly spread their retail operations and its managers executive teams will hire exceptional people who willing to work for excellent results, meanwhile reward and promote those individuals who are commit to move our company forward. Starbucks Corporation will always increase their specialty sales and other operations, introduce of new products for Starbucks brand and development of new distribution channels to achieve their goals. Leadership principle apply in Starbucks Company Howard Mark Schultz (born July 19, 1953) is an American businessman and writer. He is best known as the chairman and CEO of Starbucks who creates the Starbucks concept .The Starbucks name is now synonymous with coffee. It had been developed in various ways where the name itself stands out by its own. Brands and trademarks are gained by the quality of services and contribution given by the committees to build a great company. Transform a small coffee shop to what it is today would not have been possible without its strong operations management and innovations. Howard is an entrepreneur who believes in strong operations management and having a central focus for everyone in the company to follow. Howard is well aware that develop a business successfully involves not only make use of impactful marketing strategy but also emphasis on manage an efficient operation management system as well. This is Howard long-term vision and he aims to lead a small coffee shop to walk toward around the world. It shows Howard possesses the drive traits, is a leader who has a relatively high desire for achievement attitude in leading his business. Based on the efficiency business plan and useful organization functional plan, it help Starbucks create a nearly monopoly in the coffee industry. First, set objective and charting the organization path is an extremely essential primary step to achieve organization objective. Starbucks mission statement state Establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow. This mission statement create a complete and obvious organization objective that helps executive management and Starbucks partners to maintain the highest service quality and well-known name of the company with respect to the operation process. It also allows Starbucks to adapt in todays new market trends and new regulation. The large market share is clearly evidence of an overall operating system that is performing by Starbucks at its highly efficient rate. Implement those objectives by Starbucks means the organization should focus on sustaining the energy level need to maintain the business strategy as well as its everyday operations. These everyday operations can range from top executives creating financial reports for decision-making purposes to the frontline employee who is preparing one of Starbucks many drinks. Howard and his top executives provide a clear picture on Starbucks organization objective, it is easy understand and manipulate by employees, then all the employees can getting tasks done effectively and efficiently through out the daily operation process. Howard and his partner apply path-goal theory in manage employees which means the effective leader clarify the path to help their followers get from where they are to the achievement of their work goals and make the journey along the path easier by reduce roadblock and pitfalls. (Robbins. Decenzo, Coulter, M.2012) Starbucks executive management is to make sure most routin e operation activities such as taking orders and doing monetary transactions are running competently and guide those employees step by step to make sure organization daily operation is going smoothly. This highly efficiency service performance tend to retain highly satisfy and trusting customer to Starbucks. A content workforce maintain by Starbucks lead to fewer partners leave the corporation. Howard is a leader has a democratic style which involves their employees in decision making, always encourages employees participation in deciding work methods and goals. It means, employees at different department are allows to have a say in what is improper for their business practice and tend to suggest other effective method to improve current situation. This leading concept tend to increase manager stability which enables the store to do a much better job of recognize the managerial problem, meanwhile uses those unexpected situation as an opportunity to coach employees. Since, Starbuck Company has coffee shops in every state of America and in 36 countries around the globe. Therefore, Starbucks leader need to have specific job-relevant knowledge in manage the global corporate. As a effective leader, Howard and his top executives needs to have a high degree of knowledge about the company culture, industry, employees characteristics and technical matters because those in depth knowledge allows leaders to make well-inform decisions and to understand the implication of those decision. (Robbins. Decenzo, Coulter, M.2012) It is a crucial step for Howard and his partners in manage a firm by understands organizational culture in different retail outlets and listening to their employees who may have different background and different perspective toward their job. Starbucks stores which can retain the same managerial employee and non-managerial employees have the ability to offer a more personalize service to regular customers and will be more familiar with th e appropriate procedures to create the drinks request. Besides that, Howard is not only emphasis in train employees with the hard skills of make the various coffee drinks, but also highlight the soft skills involve in how to interact with customers. It could be a simple action as creating eye contact or smile. This is how Howard led Starbucks by use minimum amount of organization input to gain a maximum amount of organization output. In order to maximize profit and maintain Starbucks market place in coffee industry, Howard and his partners need to understand how to make something as fast as possible while minimizing errors in management process. This has permit Starbucks to stay ahead of other competitors and let Starbucks endure a large market share in the coffee industry for the longest time. FINDINGS Existing and current problem faced by Starbucks Company Starbucks named itself as a worlds best coffee. Starbucks have more than 17000 stores in 61 countries. With so many stores all around the world, the leadership concept uses by Howard and his partner in the management process is extremely important to the future of the company. One of the problem encounter by Starbucks is they set their stores around the world at a rapid pace. This will cause the supply chain organization to have the problem in maintaining the fundamental. Because of the big amount of stores throughout the world, it required more expenses to generate this supply chain organization. Due to the unstable supply chain organization, it is hard to ensure that the deliveries can arrive on time. Coffee and other merchandise must be source carefully around the globe to ensure it deliver the best quality to every customer. For leader who guide in this organization, they need to always make sure that it have sufficient supply to the entire store. Delay service must try to exclude as it will lead to waste of money and resources. In addition, with this big amount of stores in so many countries, Starbucks will also face the difficulty to maintain the quality of each employee. For Starbucks, their barista is very important to help them in maintaining the quality of each cup of the beverage they made. Although Starbucks do give training to their barista before they qualify, but when come to real situation it is very hard to ensure that every barista doing the correct sequences as what they did in the training. Especially the taste of the same type of beverage might be different in two different outlets. May be this beverage is too sweet in this outlet but it become normal when come to the other outlet. Thus, leader in each store are not focus enough on how good at delivering service to store. Some of the store might have inefficient barista who prepare the beverages slowly plus without clearly know what their customer request. This may occur when cashier do not take the order seriously and lead to confuse and mi stake. Besides, some employees are takes quite long times respond to the existing problem face by customers. Therefore, customer will feel unsatisfied with the late reply and ignoring. Thus, they may consider the Starbucks as a company with poor service performance and hence influence Starbucks prestige and image. Next, Starbucks faced the problem of continuously recruiting new non-managerial employees. This is due to their big amount number of store and also some of the existing employees are only work for temporary period. Since the employee in Starbucks especially baristas are basically working under a team. When they do their job, they like creating a round circle, cashier is taking the order, after customer finish ordering he or she needs to inform the other barista to make the request beverage. After finish prepares the beverage, barista will send it to the customer with a polite greeting. Throughout this entire process, it required a strong bonding and good communication skill between each and every barista so that mistake can be excluded. However, most of the barista do not work for a long period and it will replaced by someone new. Therefore to create the bonding in each other it takes time to generate again. Moreover work under a team required a leader to guide them toward a better d irection. The position of this leader is important due to the leader is someone who can influence others and who has managerial authority. Currently, with the introducing of Starbucks card, it helps to offer a greatest convenience when making any purchase from beverages to latest merchandise, just with the ease of one quick swipe. It is also one of the way Starbucks giving rewards to their customer. However it does creates some problems when handling this Starbucks card for redemption and reloading the amount. Basically when tracker reaches 10, the system issues a complimentary beverage which is displayed in the Rewards column. But sometimes when come to redemption, it will have the difficulty to redeem it due to technical problem or computer down in the store. It might also have the problem of unable to reload the amount of the card. It takes time to solve. If without any technician in the store, it will be just let the customer leave with unhappy and disappointment. Although Starbucks Company exist as a well-known globe corporation with uphold well management practice. But, the initiating structure in the management process seems still not strong enough in handle customers response and problems face. Any changes or improvement should be emphasis by Howard and Starbucks top-executive, and then Starbucks will be more well position to move forward and improve the livelihoods of those in the supply chain. RECOMMENDATIONS Starbucks evolved into a multinational chain from a small-scale. In this development process, which inevitably there will be many superiors communication with staff problems occur. It has thousands of retail stores, which serve some 50 million customers in 61 countries each week and having different types of employees all over the world. Starbuckss leaders need to be able to work across a range of businesses, regions, cultures and be able to cope with different sets of circumstances they will be facing. Apply Fiedler Contingency Model In order to maintain the different leadership qualities among those employees, Howard can apply Fiedler contingency model to solve this problem. The Fiedler contingency model proposed that effective group performance depended upon properly matching the leaders style and the amount of control and influence in the situation. Starbucks top executive should measure an individuals basic leadership style, either task oriented or relationship oriented before decide employees job scope. Howard can use least-preferred co-worker (LPC) questionnaire to measure employees basic leadership style. Starbucks employees were asked to think of all the colleagues they are working with and to describe that one person they least enjoyed working with by rating the candidate on a scale of 1 to 8 for each of the sets of adjective, for example, pleasant-unpleasant, cold-warm, boring-interesting, or friendly-unfriendly. If the employee described the least preferred colleagues in relatively positive terms (a hi gh LPC score- a score of 64 or above), then the employee regard as primarily interested in good personal relations with colleagues and the employee possess a relationship oriented. Inversely, if the employees saw the least preferred colleagues in relatively unfavourable term (a low LPC score- a score of 57 or below), the employee would be regard as task oriented and was primarily interested in productivity and getting the job done. For those employees who are fall in between these two extremes, he or she may not have a cut-and-dried leadership style. After done assess an employees leadership style through the LPC, Howard and his managerial partners will need to evaluate the situation in order to be able to match the employee with the situation. Leader-member relations (the confidence, trust, and respect employees level had for their leader), task structure (degree of job assignments were formalized and structured), and position power (the degree of influence a leader had over daily management activities) serve as the key situational factors in leader effectiveness. Each leadership situation was clearly shown in Fiedlers Contingency Model of Leader-Situation Matches. (Refer to appendix).Once Howard had identify employees basic leadership style and the different types of situation, and then he can identify the appropriate combinations of style and situation for each current employees and new recruiting employees. Conclusion After we complete Starbucks Coffee Company research, we have learns a lot of theories about the leadership. That is the early leadership theories, democratic style, Fiedler contingency model, situational leadership theory and path-goal theory. From those theories, we are learns how to become an effective leader in the organization. Besides that, we also learn about the ways to lead all the employees and manage the whole organization well by using all the theories we are study. Starbucks Coffee Company now is already predominating the leadership theory very well in their organization. Starbucks apply many types of theories of leadership in their organization. The leaders of Starbucks are leads their employees in a good environment and respect to each others. The employees are doing their work probably and always follow the instruction by the leaders. Thus, the organizations operation system will become more completely and smoothly. Today, there are a lot of pressures that the leaders of Starbucks will face when they are responsible to managing a companys organization. The leaders are facing many kinds of problems when leading the employees and manage the organization. The leaders need to build a good relationship with their employees and trust between each other so that the employees can cooperation with them pleasantly. In a nutshell, the leadership is very important for every organization. Whether it is a small or large organization, it must have an effective leader. The leaders must always do improvement so that they can lead all the employees become very well in the organization and can achieve its goals.

Compare and Contrast the Response of Economic Policymakers to the Great Depression of the 1930’s and the Great Financial Crisis Today.

David Pattinson ‘Industrialisation, Imperialism and Globalisation: The World Economy since 1800’ Professor John Singleton Compare and contrast the response of economic policymakers to the Great Depression of the 1930’s and the Great Financial Crisis today. Essay 2 10/1/13 Word count: 2,299 The financial crisis that began in 2007-8 was the first time since the 1930’s that both the major European countries and the US had been involved in a financial crisis.com/financial-statements-2/">Financial StatementsIn comparison, the disastrous 1931 banking crisis involved countries that accounted for 55. 6 per cent of world GDP, whereas the banking crisis of 2007-8 only involved countries that accounted for 33. 5 per cent of world GDP. Though, all the key economic variables fell at a faster rate during the first year of the later crisis. Keynes had argued in 1931 that ‘there is a possibility that when this crisis is looked back upon by the economic historian of t he future it will be seen to mark one the major turning points. ’ Keynes was correct.As a result of the lessons that were learned, policy in response to the Great Financial Crisis has contrasted sharply with policy during the Great Depression era. I will examine how national policy responses and international co-operation have differed, as well as highlighting how in creating the Euro, policymakers have unwittingly replicated many of the structural weaknesses of the Gold Standard. I will also consider how policy in the recovery phase has so far compared to policy during the recovery from the Great Depression.The Great Depression was marked by bank failures. A total of 9,096 banks failed between 1930 and 1933 amounting to 2. 0% of GDP. Friedman and Schwartz highlight the failure to increase the money supply whilst liquidity was tight as the primary cause. Bordo and Landon-Lane provide econometric analysis using examiners’ reports on failed banks that support this argume nt. Epstein and Ferguson have suggested that Federal Reserve officials understood that monetary conditions were tight but believed that a contraction was a necessary corrective. The otion that governments should ‘let nature take its course’ formed a central pillar of the contemporary economic orthodoxy. However, other economic historians have pointed out that Federal officials believed that monetary policy was actually loose, due to them conflating low nominal interest rates with low real interest rates (which were high as a result of deflation). Wicker argues that Federal Reserve officials feared that open market purchases would renew gold outflow by bring into question the Federal Reserve’s commitment to maintaining gold convertibility.When faced with a policy choice the Federal Reserve always opted to support the Gold Standard. Rather than shore up the battered banking system, the Federal Reserve raised interest rates during late 1931 and the winter of 1932-3 to protect the dollar from speculation in order to halt gold losses. Regardless of the deficiencies of Federal Reserve policy, the US entered the 1930’s with a poorly regulated banking system that was undercapitalised and based on unit banking. Calomiris and Mason argue that eventually, banking collapse would have been inevitable.In general, economists argue that the depth of the downturn is explained by the monetary shocks interacting with the dramatic falls in demand (that emanated from the collapse in investment and consumption). Loss of income and uncertain employment conditions combined to undermine consumer spending, whilst there was little incentive to invest while prices were falling. Deflation also increased the burden of existing debt. Fiscal policy did not fill the gap in demand as belief in the Gold Standard and balanced budgets prevailed.A coherent theoretical justification for expansionary fiscal policy was absent from the contemporary economic discourse. Expans ionary fiscal policy remained unused, even after states left the Gold Standard. In Europe, fears of inflation weighed heavy on the minds of policymakers. The dominant view in Washington was that over-production was responsible for the crisis. Consequently, the New Deal spending was funded by tax increases. Roosevelt concentrated on limiting competition, sharing work and promoting high wages in order to increase purchasing power.Cole and Ohanian argue that these policies undermined the recovery by raising real wages and unemployment. The consensus view is that, by subordinating monetary and fiscal policy towards maintaining gold parity, the Gold Standard transmitted the crisis to the rest of the world. The return to the Gold Standard, after the First World War, was unbalanced. Countries such as France and Belgium joined at exchange rates that were well below their 1913 levels which gave them a substantial competitive advantage. Conversely, after a deflationary squeeze, the UK re-join ed at its 1913 exchange rates, leaving the sterling over-valued.The US and France exasperated the problem, by sterilising (so not to inflate the money supply) the gold that they accumulated (sixty per cent of the world’s gold supply by 1928). The lack of reserves forced many countries into further deflation. The world economy could only be kept going by the US economy continuing to absorb imports and provide international lending to cover gold shortages. By 1928, the US proved unwilling to do the latter and was eventually unable to do the former. During the depression, this austerity debilitated economies and resulted in banking collapses, notably in Germany and Austria.In response to the systemic threat posed by the imminent German banking collapse, the nations in a position to offer assistance acted unilaterally. President Hoover proposed a one year moratorium on reparations and war debt. The French, furious at the lack of consultation opposed the measure, believing that th ey lost more than they gained. Instead, they made an offer of help to the Germans that attached political conditions that made it impossible for the Germans to accept. Ultimately, international co-operation proved impossible as states that were able to help were unwilling to risk their own privileged positions.Between 1929 and 1932, the volume of world trade fell by 25%, about half of which was due to higher trade barriers. The Smoot-Hawley Act in 1930 is often cited as the genesis of protectionist policies, but Irwin points out that the protectionist avalanche did not begin until the world financial crisis struck in 1931. Irwin locates the incipience of this round of protectionism in the ‘open economy trilemma’ which limits countries to choosing two of three objectives: a fixed exchange rate, an independent monetary policy, and open trade policies.In attempting to marry membership of the Gold Standard with independent monetary policy, policymakers adopted protectionist measures. Countries that maintained gold parity such as France and Switzerland used import quotas on 50-60% of their imports. Whereas, the Sterling block countries which allowed their currencies to devalue, only used import quotas on 5-10% of their imports. In the wake of the financial meltdown, policymakers in the US attempted significant banking reform with the Emergency Banking Act in 1933 followed by the Banking Acts of 1933 and 1935. Deposit insurance was created, and it brought an end to bank runs.The Reconstruction Finance Corporation was formed to provide capital to banks. It was successful to the extent that it owned stock in nearly half of all commercial banks by March 1934. Investment and commercial banking were separated, though White has provided evidence that banks that engaged in both commercial and investment banking were better diversified and were less likely to fail than banks that specialised in just one area. Calomiris also sees the legislation as flawed, as it preserved unit banking, which was a major source of instability in the banking system.The Great Depression altered economic thinking and policy. Hannah and Temin argue that it led to an emphasis on correcting market failures through government intervention. Federal spending rose, and inter-state transfers became acceptable. Though, unlike the UK, there was no move to Keynesian demand management in the US. The Great Depression also left a legacy in terms of the macroeconomic trilemma. Controls on international capital movements remained with the return to pegged exchange rates under the Bretton Woods Agreement which allowed independent monetary policy.Economists such as Wray have seen the policy legacy of the Great Depression as having constrained the destabilising role played by finance. Moreover, it provided the framework for an unprecedented period of prosperity after the Second World War. In response to the Great Financial Crisis, policymakers have been largely cognisant of the lessons of the 1930’s. The Federal Reserve officials of the 1930’s argued that they could not increase credit by purchasing government securities as they were not eligible as collateral.In contrast, based on Bernanke’s view that banking collapse leads to a failure of the credit allocation mechanism, the Federal Reserve combining with the Treasury created a range of extensions to its discount window to encompass every kind of collateral in the hope of unblocking the credit markets. States co-ordinated massive injections of liquidity (double digits fractions of GDP in advanced economies). The Bank of England, the Bank of Japan and the Federal Reserve undertook large scale quantitative easing. Interest rates were reduced to almost zero in the US and Britain and to very low levels in Europe and elsewhere.Governments nationalised insolvent institutions deemed ‘too big to fail’ such as Freddie Mac and Fannie Mae in the United States, BNP Paribus in France and Northern Rock in Britain. Despite China’s minimal direct exposure to the financial crisis, its response to the downturn in demand has been sweeping. Focusing on developing infrastructure it undertook a stimulus package that amounted to 14% of GDP in 2008. Keen notes that the massive amount of government spending in 2010 meant that government debt was responsible for 12% of aggregate demand in contrast to only 1. % of aggregate demand between 1930 and 1932. Furthermore, unlike the 1930’s, governments have not tried to over-ride, the now much larger, automatic stabilisers. However, the experience of the 1930’s has not effectively militated upon the policy makers of the Eurozone, where a dramatic collapse in employment and living standards has mirrored the Great Depression. Like the Gold Standard, the Euro was unbalanced from its inception as the weaker economies joined at a relatively high rate of exchange on the premise of avoiding inflation.The gap in compe titiveness has widened due to Germany suppressing nominal wages much more effectively than the rest of the Eurozone. Easy credit provided to peripheral areas by German banks created markets for German exports and saddled those areas with debt. Monetary and fiscal policy has focused on creating an international currency to rival the dollar. Consequently, monetary policy has targeted inflation through low interest rates. As monetary policy is unitary, the peripheral economies are denied the opportunity to reflate their economies.Furthermore, unlike other major advanced economies since the crisis began, the Eurozone has required that Fiscal policy be placed under tight constraints via the Fiscal Stability Pact. The retrenching of the crisis on to sovereigns has exposed a central weakness of the Eurozone project. The ECB supports banks but lacks the power to support states. Similar to the deflation that was necessary under the Gold Standard, the peripheral economies of the Eurozone are locked into a mutually reinforcing cycle of debt and austerity.Having pursued national self-interest from the euro’s inception, Vines argues Germany is unwilling to provide the hegemonic leadership that its responsibilities in Europe require of it. Though, Lapavitas et al argue that abandoning fiscal discipline would be incompatible with the avowed aim of maintaining a currency that attempts to compete with the dollar. The value of the euro would probably fall, destroying the large Eurozone banks’ ability to operate internationally. If German policy has followed narrow self-interest to the detriment of others, it has not been alone. China has held down their exchange rates over a long period of time.It is widely estimated that Chinese currency is 30% to 40% overvalued. Martin Wolf of the Financial Times has asserted that Chinese interventions to keep the exchange rate down are tantamount analytically to trade protectionism. Judging by its reserves it has ‘†¦ kept its exchange rate down to a degree unmatched in economic history. ’ States have also been quick to ‘ring-fence’ assets in their own jurisdiction. For example, the fear of the imminent collapse of the Icelandic banks led UK supervisors to resort to using the Anti-Terrorism, Crime and Security Act to ring fence Icelandic bank assets in the UK.Claessens et al point out that in general, national interventions have been uncoordinated and driven by pure national interest. However, the major international banks have co-ordinated massive injections of liquidity into the system at various points. Moreover, protectionism has not been a feature of the current crisis in the way that it was during the great depression. Research has shown that only 2% of falls in world trade in 2008-9, can be attributed to trade barriers. This can be primarily attributed to the system of flexible exchange rates, the lessons learnt from the great depression and the system of trade rules ov erseen the WTO.As of yet following the great financial crisis, there has not been significant banking reform. Attempts at co-ordinated international regulation have proved difficult. The former governor of the Bank of England Mervyn King attributes this to the heightened awareness that global banks are global in life and national in death. The draft proposals for the Basel III accords put forward some significant reforms which were ultimately watered down. Key elements such as a mandatory countercyclical capital buffer were omitted from the final agreement.Although the accords raised the minimum capital requirements, they are still held by many economists to be too low. Attempts at reform including the Dodds-Frank Act have not addressed the problem of ‘Too Big to Fail Banks’ (whose size necessitates that they be bailed out in the event of insolvency due to the systemic risk that they pose). A situation of moral hazard thereby exists where banks know they can engage in a ny risky behaviour they like. If anything should go wrong they know they will be bailed out by the state.In summary, the response to the Great Financial Crisis has differed from the Great Depression as a result of the increased understanding of macroeconomics. The scale of the policy response to the Great Financial Crisis would have been unthinkable during the Great Depression era. Despite the unprecedented response, the economic crisis that began with the financial crisis in 2007-8 is far from over and many problems remain. In the advanced economies, growth has been weak and fears of a triple dip recession persist. The Great Depression precipitated a reappraisal of policy by policymakers and resulted in considerable changes in policy.This has not happened so far to the same extent in response to the Great Financial Crisis. Many of the policy mistakes of the Great Depression have been avoided. The challenge now is to construct a macroeconomic framework that can aid the recovery and eventually facilitate a new period of economic expansion. The change in policies as a result of the Great Depression had some success in this respect. Banking regulation proved inadequate prior to both crises. In response to the Great Financial Crisis, this has yet to be rectified. This time policymakers will have to tackle the issue of ‘too big to fail’ banks.In the Eurozone, Germany has taken on the role of both the US and France during the Great Depression by failing to shore up weaker areas and by pursuing policies to the detriment of everybody else. During the Great Depression, the most important factor in the recovery was the abandonment of the Gold Standard. The countries that devalued in 1931 performed much better than those who had continued with exchange controls. The cost of reverting back to a national currency makes leaving the Euro and devaluing a less viable option for the Eurozone states. Bibliography Barrell, R. and Holland, D. ‘Monetary and Fisca l Responses to the Economic Downturn,’ National Institute Economic Review, No. 211, (Jan 2010) pp. 51-62. Bernanke, B. , ‘Nonmonetary Effects of the Financial Crises in the Propagation of the Great Depression,’ American Economic Review (June 1983), pp. 257-76. 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(1986), ‘Before the Glass–Steagall Act: An Analysis of the Investment-banking Activities of National Banks,’ Explorations in Economic History, Vol. 23, pp. 33–55. Wicker, E. , ‘Federal Reserve Monetary Policy, 1917-1933’ (Random House, 1966). Wolf, M. ,‘Why China’s Exchange Rate Policy Concerns Us,’ Financial Times (8th of December 2009)Wray, L. R. , ‘The rise and fall of money manager capitalism: a Minskian approach,’ Cambridge Journal of Economics, Vol. 33, (2009) pp. 807–828. Yu, Y. , China’s Policy Responses to the Global Financial Crisis, Richard Snape Lecture, Productivity Commission, Melbourne (25th November 2009). ——————————————– [ 1 ]. N. Crafts and P. Fearon, Lessons from the 1930s Great Depression, Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 287 [ 2 ]. J. M. Keynes, ‘An Economic Analysis of Unemployment’, from Q. Wright (ed. , Unemployment as a World Problem, (Chicago: University of Chicago Press, 1931). [ 3 ]. C. Calomiris and J. Mason, Consequences of Bank Distress during the Great Depression, American Economic Review, Vol. 93, (2003a), pp. 937–47 [ 4 ]. M. Friedman and A. Schwartz, A Monetary History of the United States, 1867-1960, (Princeton: Princeton University Press, 1963) [ 5 ]. M. Bordo and J. Landon-Lane, The Banking Panics in the United States in the 1930s: Some Lessons for Today, Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 486–509 [ 6 ]. G. Epstein and T.Ferguson, Monetary Policy, Loan Liquidation, and Industrial Conflict: The Federal Reserve and the Open Market Operations of 1932, Journal of Economic History (December 1984), pp. 95 7-83. [ 7 ]. P. Fishback, US Monetary and Fiscal Policy in the 1930s, Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), p. 394. [ 8 ]. E. Wicker, Federal Reserve Monetary Policy, 1917-1933, (Random House, 1966) [ 9 ]. Crafts and Fearon, Lessons from the 1930s Great Depression, p. 292 [ 10 ]. Calomiris and Mason, Consequences of Bank Distress during the Great Depression, pp. 937–47 [ 11 ].Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 291-3 [ 12 ]. Fishback, US Monetary and Fiscal Policy in the 1930s, pp. 401-5 [ 13 ]. Cole and Ohanian, New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis, Federal Reserve Bank of Minneapolis Research Department, Working Paper No. 597, (July 2000), p. 41. [ 14 ]. Ibid. pp. 294-5 [ 15 ]. Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 295 [ 16 ]. D. Irwin, Trade Policy Disaster: Lessons from the 1930’s, (Cambridge: MIT Press, 2011) Ch. 1 [ 17 ]. Ibid. , Ch. 4 [ 18 ].Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 304-5 [ 19 ]. E. White, Before the Glass–Steagall Act: An Analysis of the Investment-banking Activities of National Banks, Explorations in Economic History, Vol. 23, (1986), pp. 33–55. [ 20 ]. C. Calomiris, Monetary Policy and the Behavior of Banks: Lessons from the 1930s for the 2010s. 28th March 2011. Accessed: 16th December 2011. www. economics21. org/files/pdfs/in-depth†¦ /calomiris-spring-11. pdf [ 21 ]. L. Hannah and P. Temin, (2010), Long-term Supply-side Implications of the Great Depression, Oxford Review of Economic Policy, Vol. 26, No. , (2010), pp. 561–80 [ 22 ]. White, Before the Glass–Steagall Act: An Analysis of the Investment-banking Activities of National Banks, pp. 33–55. [ 23 ]. L. Wray, The Rise and Fall of Money Manager Capitalism: A Minskian Approach, Cambridge Journal of Economics, Vol. 33, (2009) pp. 813 [ 24 ]. Bernanke, B. , Nonmonetary Effects of the Financial Crises in the Propagation of the Great Depression, American Economic Review (June 1983), pp. 257-76. [ 25 ]. R. Barrell and D. Holland, Monetary and Fiscal Responses to the Economic Downturn, National Institute Economic Review, No. 211, (Jan 2010) p. 56 [ 26 ]. Y.Yu, China’s Policy Responses to the Global Financial Crisis, Richard Snape Lecture, Productivity Commission, Melbourne (25th November 2009) pp. 9-10 [ 27 ]. S. Keen, Empirical and theoretical reasons why the GFC is not behind us. 13th June 2010. Accessed: 16th December 2011 [ 28 ]. C. Lapavitsas et al, Eurozone crisis: beggar thyself and thy neighbour, Journal of Balkan and Near Eastern Studies, Vol. 12, No. 4 (2010), p. 367 [ 29 ]. D. Vines, Fiscal Policy in the Eurozone After the Crisis, Paper prepared for lunchtime talk at Macro Economy Research Conference on Fiscal Policy in the Post Crisis World, (Tokyo, 16 November, 2010). 30 ]. Lapavitsas et al, Eurozone crisis: beggar thyself and thy neighbour, p. 367 [ 31 ]. D. Vines, The Global Macroeconomic Crisis and G20 Macroeconomic Policy Coordination, The Journal of Applied Economic Research, Vol. 4, No. 2, (2010) pp. 157-175 [ 32 ]. M. Wolf, Why China’s Exchange Rate Policy Concerns Us, Financial Times (8th of December 2009) [ 33 ]. S. Claessens et al, Lessons and Policy Implications from the Global Financial Crisis, IMF Working Paper, No. 14 (2010) p. 16 [ 34 ]. L. Kee et al, Is Protectionism on the Rise?Assessing National Trade Policies during the Crisis of 2008, World Bank Policy Research Working Paper No. 5274, (2010), p. 3 [ 35 ]. E. Helleiner and S. Pagliari, The End of an Era in International Financial Regulation? A Postcrisis Research Agenda, International Organization, Vol. 65, (Winter 2011), p. 184 [ 36 ]. M. Goldstein, Integrating Reform of Financial Regulation with Reform of the International Monetary System, Peterson Institute for International Economics, Working Paper No. 11-5 (February 2011), pp. 5-7. [ 37 ] . Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 311

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Qué es TPS y beneficios migratorios a centroamericanos

El Estatus de Proteccià ³n Temporal, conocido como TPS por sus siglas en inglà ©s, es un beneficio que otorgan las autoridades de Estados Unidos a migrantes indocumentados de determinados paà ­ses en donde existe una situacià ³n grave de inestabilidad, como una guerra civil o un desastre natural. No todos los migrantes indocumentados procedentes de paà ­ses en conflicto pueden beneficiarse de un TPS. Las autoridades de Estados Unidos deben emitir una declaracià ³n formal extendiendo proteccià ³n TPS a los nacionales de un paà ­s en particular. Puntos Clave: TPS El TPS es una proteccià ³n temporal otorgada por el gobierno de los Estados Unidos a los migrantes de paà ­ses en situaciones de inestabilidad grave.Beneficios migratorios por TPS: los migrantes no pueden ser deportados, cuentan con permiso de trabajo y pueden solicitar permiso para viajar fuera de EE.UU. y regresar.Paà ­ses centroamericanos amparados bajo TPS: El Salvador, Nicaragua y Honduras.  ¿Quà © paà ­ses tienen TPS? En la actualidad, los ciudadanos de 10 paà ­ses pueden beneficiarse de un TPS, en tanto reà ºnan los requisitos establecidos en sus respectivas declaraciones de Estatus de Proteccià ³n Temporal: El Salvador, Haità ­, Honduras, Nepal, Nicaragua, Siria, Somalia, Sudà ¡n, Sudà ¡n del Sur y Yemen. En estos momentos, la situacià ³n del TPS para El Salvador, Nicaragua, Haità ­ y Sudà ¡n es volà ¡til debido a que la administracià ³n del Presidente Donald Trump dictaminà ³ el fin del programa, pero la orden preliminar de una corte de distrito impide, por el momento, la ejecucià ³n de dicha decisià ³n.  ¿Cuà ¡les son las protecciones migratorias para los migrantes con TPS? Las protecciones migratorias para los migrantes indocumentados con TPS aprobado o elegibles para TPS son las siguientes: No pueden ser deportados ni detenidos por razones migratorias.Tienen derecho a un permiso de trabajo conocido como EAD.Pueden obtener un permiso para viajar fuera de EE.UU. y regresar.Pueden solicitar un nà ºmero del Seguro Social y sacar la licencia de manejar ordinaria.Pueden solicitar licencia manejar y de identificacià ³n Real I.D. Sin embargo, un TPS no es un camino directo hacia la tarjeta de residencia permanente, conocida como green card. En otras palabras, un TPS no se convierte en una green card al cabo del paso del tiempo y de manera automà ¡tica. Tampoco es un camino hacia la ciudadanà ­a estadounidense. Cabe destacar que, como condicià ³n indispensable para obtener los beneficios del TPS, es obligatorio estar en Estados Unidos en el momento en que se produce la declaracià ³n de las autoridades estadounidenses otorgando TPS a un determinado paà ­s. En otras palabras, el TPS no beneficia a los migrantes que llegaron en fecha posterior a dicha declaracià ³n. Tambià ©n es imprescindible haber solicitado el TPS en los 18 meses siguientes al inicio del programa y haber solicitado la extensià ³n cada vez que se decretà ³ la misma. Situacià ³n de TPS para salvadoreà ±os El TPS para El Salvador se aprobà ³ en 2001 y desde entonces se extendià ³ en sucesivas ocasiones. En la actualidad, unos 200.000 salvadoreà ±os se benefician del mismo, aunque està ¡n en riesgo de perderlo. En enero de 2018, el Departamento de Seguridad Interna (DSH, por sus siglas en inglà ©s) anuncià ³ que no iba a extender el TPS para El Salvador, aunque la finalizacià ³n del programa està ¡ pendiente de una disputa judicial. Sin embargo, el 28 de octubre de 2019, se extendià ³ la validez del permiso de trabajo al 4 de enero de 2021. Ademà ¡s, los salvadoreà ±o gozarà ¡n de un periodo de transicià ³n de un aà ±o una vez que se conozca la decisià ³n judicial pendiente sobre el futuro de TPS, que se espera se conocerà ¡ a mediados de 2020. TPS y beneficiarios nicaragà ¼enses La situacià ³n de los nicaragà ¼enses con TPS es similar a la de los salvadoreà ±os. El gobierno de EE.UU. anuncià ³ el fin de ese programa el 5 de julio de 2019, pero la orden preliminar de una corte de distrito del norte de California ha dejado, por el momento, vigente el programa y se anuncià ³ una nueva prà ³rroga de los permisos de trabajo a finales de octubre de 2019. Y es que el futuro del TPS de los nicas tambià ©n està ¡ a la espera de la resolucià ³n judicial por la demanda Ramos vs. Nielsen, que se espera se conocerà ¡ a mediados del aà ±o 2020. Mientras tanto, entre 2.500 y 5.000 nicaragà ¼enses siguen amparados por el TPS. TPS para hondureà ±os A mediados de 2008, el gobierno de Trump extendià ³ el TPS para hondureà ±os hasta el 5 de enero de 2020. Sin embargo, se anuncià ³ la prà ³rroga por nueve meses mà ¡s. Si una vez transcurrida esta prà ³rroga sigue sin haber resolucià ³n judicial de la demanda Ramos vs. Nielsen que tiene congelado al programa, habrà ¡ otra extensià ³n por otros nueve meses. Aproximadamente unos 57.000 hondureà ±os tienen TPS, bajo la resolucià ³n que fue aprobada en 1998 tras los desastres provocados en su paà ­s por el paso del huracà ¡n Mitch.  ¿Quà © pueden hacer los migrantes con TPS para arreglar sus papeles? Teniendo en consideracià ³n que el TPS no se convierte nunca automà ¡ticamente en una tarjeta de residencia permanente y que existe la amenaza real de que el TPS caduque, es conveniente explorar si existen posibilidades de quedarse en Estados Unidos legalmente. En primer lugar, es posible para algunos migrantes ajustar su estatus cuando hay una peticià ³n. Por ejemplo, una solicitud de papeles presentada por un ciudadano estadounidense para su cà ³nyuge o por un hijo nacido en EE.UU. mayor de 21 para su padre o su madre. En ambos casos, para que sea posible el ajuste de estatus es necesario que el migrante haya ingresado legalmente a EE.UU., aunque luego se hubiera convertido en indocumentado al no salir dentro del plazo autorizado. Cabe destacar que los migrantes que ingresaron a EE.UU. cruzando ilegalmente la frontera no pueden ajustar su estatus por peticià ³n de cà ³nyuge ciudadano ni de hijos ciudadanos. Estas peticiones deben finalizarse en una embajada o consulado de EE.UU. y esa salida del paà ­s lleva aparejada, en muchos casos, que se active el castigo de 3 a 10 aà ±os que impide regresar por ese tiempo. La à ºnica excepcià ³n son los migrantes que califiquen para obtener un perdà ³n provisional por dureza extrema antes de viajar fuera de EE.UU., ya que aunque tendrà ­a que salir del paà ­s para presentarse a la entrevista en un consulado podrà ­an regresar inmediatamente despuà ©s de la misma. En segundo lugar, serà ­a posible para algunos migrantes acogerse al asilo polà ­tico. Aunque en principio hay que solicitarlo en el plazo de un aà ±o desde que se ingresa a EE.UU., el TPS paraliza ese cà ³mputo, ya que es una circunstancia extraordinaria que, en el lenguaje legal del asilo, para el reloj. En tercer lugar, los migrantes que son familiares inmediatos de un ciudadano que sirve en el Ejà ©rcito de los Estados Unidos o es veterano o reservista podrà ­an regularizar su situacià ³n y sacar la green card por medio del programa conocido como Parole in Place. Finalmente, los migrantes và ­ctimas de ciertos crà ­menes podrà ­an obtener beneficios migratorios a travà ©s de la visa T para casos de trà ¡fico humano. Esta opcià ³n tambià ©n aplica para la visa U, para casos de personas que han colaborado en la resolucià ³n de ciertos crà ­menes o la condena de los victimarios, asà ­ como el programa VAWA para và ­ctimas de violencia domà ©stica para cà ³nyuges de ciudadanos o residentes permanentes legales. En algunos casos esta proteccià ³n tambià ©n se extiende a los padres e hijos de los mismos. Es importante evitar ser và ­ctima de fraude de asesores no calificados que juegan con la desesperacià ³n de los migrantes. Es recomendable consultar el caso de cada persona con un abogado calificado o un representante acreditado por el Departamento de Justicia. Este es un artà ­culo informativo. No es asesorà ­a legal.