Ah, the world economy! A complex system of money, labor, and goods all controlled by laws and regulations that are supposed to keep the gears running smoothly. With so many little details and factors that go into the economy, you would think that only large events- those on a global scale to be precise- would rock it. Even web design can have an impact on global economy by influencing people’s emotions. People who are frustrated with hard to navigate sites will not be spending their money at the company or if the design is offensive, they may boycott the company altogether and encourage others to do the same. There are a lot of factors that go into the global economy and although you might be aware of several, there are some that you probably did not know about.
1. Labor unions
Unions can be detrimental to an economy; especially if they decide to strike. Strikes can cost companies valuable time and money as well as hindering the transfer of product.
2. College students
When it comes to big spending, rash decisions, and racking up large amounts of debts, college students are pros at that. The amount of money that they pump into the system can be great, but the amount of debt that they acquire through financial aid can hinder the economy.
3. Sexuality qualms
By now, you have probably heard all about Chick-Fil-A saying that they do not support gay marriage and the boycotting that occurred because of it. Anytime issues of sexuality arise, you can expect supporters to blow large amounts of cash to show their appreciation for the corporation’s stance while others encourage their friends and family to boycott the organization and avoid spending money there.
4. Global warming
Before you roll your eyes and mutter Al Gore under your breath, keep in mind that there is some truth to this. Global warming can lead to a lot of damage as well as migration which can cost corporations a substantial amount of money.
Although it is obvious that buying products made across the world helps benefit the world economy, purchasing only locally or nationally made products can hinder the global economy since money is being taken out of it.
6. Website design
We mentioned web design briefly in regards to human emotion already, but it can drastically affect the economy. If a corporation that pumps a lot of money into the system has a poorly designed website, customers are less likely to spend their money there.
7. Gender equality
Although feminism has garnered a lot of negative attention for itself, organizations that support gender equality rights will receive a lot of support- financially and metaphorically- which can affect the world economy.
People get very competitive during the Olympics and we are not referring to the athletes! During this time, people usually go out of their way to purchase items manufactured in their home country which again, takes money away from the global economy.
9. Gas prices
Although you may think that gas prices only affect your paycheck, they can cost corporations a lot of money when it comes to shipping and receiving needed products.
10. Unemployment rates
High unemployment rates mean more tax payer dollars for the system, less employees to manufacture goods, and a higher amount of stress on the economy.