Robbin Davidson, Author at Ecommbits

In Finance

The Social and Economic Benefits of Free Trade

December 30, 2021 No Comments

The total global gross domestic product (GDP) is right around $85 trillion. GDP is the total valuation of all goods and services available in the marketplace. The benefits of free trade have let the global GDP flourish to these heights.

While not all countries have free trade policies, those that do tend to be more economically successful than those that don’t. This may lead one to question “is free trade good or bad?” The answer to this question is contextual.

A free trade agreement between nations can benefit or destroy a country depending on the context they find themselves in. They are beneficial if done right, however. Read about the social and economic benefits of free trade here.

What Is Free Trade?

Free trade is unrestricted trade between two or more national entities. Having a free trade network means keeping tariffs, embargoes, and other means of economic control out of the trading process.

Free trade is an inherent state between two nations. As long as nations don’t levy any additional restrictions or fees on each other, their trade is said to be free.

Free Trade vs Protectionism

In a free trade situation whoever can produce goods and services for the cheapest price will reap the most rewards. If a country has a domestic market that produces the same thing, this market may be handicapped by free trade.

The cure for this is ingenuity and streamlining production processes. Some countries however take the easy way out and levy tariffs or make restrictions to help protect domestic marketplaces. This is known as protectionism.

Economic Benefits of Free Trade

Having free trade policies opens up the door to new markets. These markets may have products and services not found within the borders of your nation. Free trade can also get you products for cheaper than domestic markets.

Free trade also fosters ingenuity in your domestic sectors. To compete on a global scale, your business leaders will need to step up their game. Joseph Stiglitz highlights some other important economic benefits of free trade.

Social Benefits of Free Trade

In addition to fostering positive economic conditions, free trade also benefits society in general. It is conducive to diplomacy and helps strengthen relations between different nations. It also helps spread the idea of multiculturalism.

A populace in a country reaping the rewards of free trade will have access to a wide variety of goods and services for affordable prices. In this way, free trade raises standards of living and improves the lives of all your citizens.

Live Free and Prosper

The best way to ensure prosperity for a nation’s people is to have free trade policies in place. The benefits of free trade don’t only extend to the economic sector, they also make people’s lives better for their day-to-day existence.

Use the information in this guide as part of your understanding of the global economic system. If you are allowed to vote, lean on the side of free trade for a better tomorrow.

Take a look at the rest of our website for more helpful information like this.

In Business

Is it worth investing in bonds? How do they work exactly?

December 27, 2021 No Comments

Bonds are instruments that help companies and governments borrow money from the public. If the Government needs money, it issues government bonds. On the other hand, when companies need debt financing, they issue corporate bonds.

How do bonds work?

Bonds work by returning a regular amount to the investor, also known as a “coupon rate,” and are thus pertained to as a type of fixed-income security.

Bonds usually carry a fixed rate of interest. coupons. These coupons are paid at specified intervals, i.e., annually or half-yearly. Other features of bonds are as follows –

They might be offered for a specific tenure after which you can redeem them
There are different types of bonds available in the market
Some bonds also give you the option to convert them to equity after a specified period
You can trade bonds on the stock exchange and sell them to other investors before their maturity
You can buy and sell bonds physically or through a Demat account

So, when you invest in bonds, you are essentially lending money to the issuer, and you get the benefit of guaranteed returns in the form of interest payments. Moreover, you can trade bonds and earn capital gains if the price paid for buying the bond is lower than the price at which you sell them.

Is it worth investing in bonds?

Bonds are beneficial, because –

They are liquid in nature as they can be traded on the stock exchange
They are a form of debt instruments that give guaranteed interest earnings on your investments
They help you diversify your portfolio
Some bonds are also tax-efficient as they yield tax-free interest income

Also, for senior citizens and investors looking for stable and steady returns, bonds can prove to be a good investment option as they promise guaranteed interest income.

Bonds, when used strategically alongside stocks and other assets, can be a great addition to your investment portfolio, many financial advisors say. Unlike stocks, which are purchased shares of ownership in a company, bonds are the purchase of a company or public entity’s debt obligation.

So, if you are looking for portfolio diversification through debt exposure and your investment strategy permits, bonds can prove to be a worthy investment avenue.

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In Business

Top 4 Factors to Consider When Selecting Life Insurance Providers

December 24, 2021 No Comments

Most people don’t like to think about death, but it’s one of life’s few inevitabilities. Are you protecting your loved ones with a life insurance policy?

If you’re a primary provider for your family, it’s crucial that you have life insurance (even if you’re young). Selecting life insurance providers isn’t easy, however.

We’re here to help you find the right life insurance company for your needs. Read on to learn all about several factors that you should keep in mind when you’re making your decision.

Reputation and Credibility

Getting life insurance is a major investment. You want to make sure that the life insurance provider is reliable, credible, and has a good reputation.

There’s a reason that there are popular life insurance companies that you’ll see in advertisements. While marketing is a factor, reliability is another one. The business wouldn’t have the ability to spend a lot of money on marketing if they didn’t have financial stability (which makes them more reliable).

You can also consider references and reviews. Ask friends and family members about their own life insurance policies to see if they have any recommendations for you.

Look at online reviews before committing to a provider.

Customer Service

Great customer service is key when it comes to working at a life insurance company. If you contact the company to inquire about policies and you don’t feel as though the representative is giving you good customer service, it’s a red flag.

Policies are complicated. You want to have a representative on your side who can explain insurance terms and conditions and any potential problems that can arise.

For example, the Paradigm Life MEC explanation shows that they have good customer service because they’re interested in helping customers avoid the complications that come alongside an MEC. Some

Some options for insurance providers are only interested in money and it shows.

Policy Options

Not all life insurance policies are alike. Before committing to a company, browse the policies and add-ons that they have available to you. If the policies are unclear online, don’t be afraid to reach out and talk to a representative to clarify anything that’s confusing.

You want to make sure that you get a policy that helps you and your loved ones. Not everyone is a good candidate for every life insurance policy.

Affordability

While price shopping is never the best idea, you still need to take the cost of available life insurance policies into consideration. A life insurance policy won’t be helpful to you if you can’t afford it.

When you’re comparing insurance costs, make sure to look for any hidden fees as well as the costs that can come with add-ons. Again, if you’re confused, talk to a representative before you make your decision.

Selecting Life Insurance Providers Can Be Tricky

Selecting life insurance providers isn’t as simple as it looks. With all of the available policy options, it can be confusing. Reach out to several credible life insurance providers and don’t be afraid to spend a lot of time asking questions.

For more helpful articles about the top trending topics, visit the rest of our site.

In Finance

Where Did Gold Come From? A Brief History

December 18, 2021 No Comments

Did you know that people in the Balkans processed gold 6,500 years ago? Previously, the oldest discovered processed gold was the Varna Gold, considered the oldest gold objects in the world.

Where did gold come from, and what’s the history behind it? We dive deeper into the history of gold so you can find out.

Where Did Gold Come From?

As we mentioned above, a recent archaeological discovery uncovered a tiny gold bead in Bulgaria. It’s supposedly the oldest bit of processed gold in Europe and possibly the world.

Prior to this finding, the Varna Gold found outside the Black Sea port of Varna was thought to be the oldest found gold objects.

Archaeologists discovered 13 pounds of processed gold objects in the necropolis. The ancient people that lived in the area were understood to be farmers, and there’s still quite a bit of mystery surrounding their civilization.

The gold bead found in Bulgaria may push the processing of gold back 200 years.

Around 3600 BC, goldsmiths in Egypt would melt gold ore.

Spanish explorers also encountered the Inca people, who had a high appreciation for silver and gold. Gold was used for their ritualistic objects, in jewelry, and to make coins.

The precious metals silver and gold have historically proven themselves an excellent source of value.

Gold in the Earth

There are two theories about how gold was actually first formed. One theory involves the explosion of supernova stars creating a nuclear fusion that results in gold. The other theory is that a collision of neutron stars resulted in a gamma-ray burst.

It’s unknown when exactly humans started to mine for gold. Gold mining is at least 6,500 years old if the oldest processed gold is correctly dated. Gold exists deep inside the earth, and it’s transported by volcanic eruptions, molten lava, earthquakes, and water.

Geologists have discovered gold rocks that are billions of years old. In fact, the Witwatersrand in South Africa holds the world’s largest known gold reserves. It’s a 300km radius crater believed to have been created by a meteor impact more than 2 billion years ago.

Gold Today

Is gold a good investment today?

Gold is as coveted now as it was thousands of years ago. In fact, many people invest in gold and precious metals as it’s a solid financial strategy. Whether you invest in gold bullions, jewelry, stocks, or other types of gold, it can be a great hedge against inflation and a store of value.

You can learn more about Gold IRAs and converting your IRA when you check out this link Raremetalblog.com/advantage-gold.

All That Glitters

All that glitters may not be gold, but you can rest assured gold itself remains a great investment. It’s as treasured today as it was thousands of years ago and likely will be for many years to come.

When other people ask, “Where did gold come from?” You can confidently tell them all you know.

To learn more bits of knowledge, be sure to check out some of our other posts. Our bite-sized articles are perfect for learning something new.

In Law

Explained 101: Cost of hiring personal injury attorneys in Philadelphia

December 10, 2021 No Comments

Did you suffer injuries in a car crash that wasn’t your fault? Were you injured in a slip-and-fall accident? Are you a victim of medical practice? You need to get an attorney on your side. Victims of personal injury accidents often step back from calling a lawyer because they are worried about the costs. Medical bills can pile up soon following an accident, and you could be out of work due to injuries for a considerable time. Seeking legal help may seem more like an additional expense. Thanks to the contingency fee arrangement, hiring Philadelphia, PA personal injury attorneys doesn’t have to be expensive. Below is an overview of what you need to know.

No upfront fee

Family and criminal lawyers usually ask for a fee for each hour of work, which is called the hourly rate. The attorney may work on a retainer fee or flat fee in some cases. In that context, personal injury lawyers are different. They work on a contingency fee for most cases. The lawyer cannot (and would not) ask for an upfront fee. The lawyer only gets paid when the client wins a settlement. What happens when you don’t win the lawsuit after all the work? The lawyer cannot ask for a fee – simple! This arrangement allows victims of personal injury cases to get justice and recover compensation, even when they don’t have the money to pay a lawyer.

How is the contingency fee decided?

A professional attorney will discuss the contingency fee and costs of the case in advance. The fee depends on several factors. The first aspect is the complexity of the lawsuit. For instance, if you have a share in fault or the case requires extensive investigation, the lawyer may charge more. The attorney’s experience is also a factor, besides the nature of injuries and damages. If the case is expected to go to trial, the lawyer will take more than the standard fee of negotiating a personal injury claim. The fee varies from 25% to 40% of the final settlement for most personal injury cases.

Contact a lawyer sooner

If you have suffered a personal injury because of someone, consider consulting an attorney soon. It is necessary to seek advice from an attorney who is experienced and can handle a trial if needed. The lawyer can investigate the case, gather evidence, and take appropriate steps to ensure that the client gets all the support they need.

Robbin Davidson