Some advantages of tourism are job creation, expansion of local infrastructure, such as roads, public transportation and sanitation facilities, and education of tourists. Meanwhile, many advantages are also disadvantages. For example, job creation does occur, but many of these jobs tend to be menial and offer little chance of advancement; the jobs that do offer upward movement are often filled from outside.Know More
With the advantages of infrastructure improvement often come downsides such as pollution, destruction of some aspects of the environment and scattered development that may be inaccessible to residents of the area. Moreover, if big businesses play a role in developing the tourism industry in a certain area, the local businesses and residents may see very little of the profits, because the money goes to the big business. Also, while many tourists learn on their trips, that learning often comes at costs, such as residents of the area feeling belittled or patronized, especially if the tourists focus only on certain aspects of their culture.
Some ways tourists can act mindfully are by going to locally owned and operated businesses and by remaining environmentally aware. Businesses in a tourist area can also act mindfully by working to continue the culture in a non-patronizing way and by involving the community in many ways. One method is to set up educational programs or scholarships for students in the area.Learn more in Economics
Supporters of labor unions argue that they give allow workers greater opportunities for securing higher wages, benefits and better working environments, while opponents criticize labor unions on the grounds that they escalate prices for market goods and make employment markets less competitive. Those in favor of labor unions contend that without unions, workers would be subject to lower living standards, less safe working conditions and discrimination. Contrarily, others assert that labor unions provide benefits to a small segment of the economy and national workforce at the expense of others.Full Answer >
The benefits of mercantilism include increased employment, the development of new technologies and products, and positive cultural exchanges as mercantilist nations seek new markets and raw material sources, whereas the disadvantages of the system include increased conflict between nations, growth in trade protectionism and the development of trade monopolies. The Library of Economics and Liberty defines mercantilism as a form of nationalism aimed at building a wealthy and powerful state.Full Answer >
Oligopolies are usually seen as being negative to the general public. There are certainly disadvantages of oligopolies, including reduced consumer choice. However, the disadvantages are also matched with some advantages, including price stabilization.Full Answer >
Mixed economies essentially create a balancing act between the private sector and government: these economies allow governments the opportunity to step in to correct market failures, but sometimes draw criticism for enabling too much governmental control. Mixed economies require participation and cooperation between the private sector (such as individual corporations and businesses) and the government. Ideally, these economies create strong, stable economies with minimal governmental interference. However, when the balance tips too far one way or the other, problems arise.Full Answer >