Economic Conditions of Foreign Country
Economic Conditions of a Country
Moldova -- Youth Unemployment and Technological Development and Capacity within the Economy
One of the most critical concerns of the current ork Bank is the high rate of youth unemployment in South Eastern Europe. This phenomenon of high youth unemployment, it is feared, will lead to a state of increasing instability across the region. More and more young people in this region are aimless in life, and grow up without being instituted in an appropriate 'work culture.' Either they will emigrate, depleting their nations of young employees, or become drains on the economy. These countries are also afflicted by low birth rates, which will continue to create a diminished labor force.
Development of cost-effective active labor market programs must be complemented by youth programs," states the orld Bank. Essential to these programs are loans from the Bank that promotes skills…… [Read More]
While a cut down in budgets is inevitable, however, libraries should also try to increase their revenues. This can be achieved by promoting more subscriptions and grants through increasing dependency on technology (Budd 2005). A library might be able to attract grants if it goes digital. The director or management can make a presentation to convince the relevant authorities about how their grant will increase the library's productivity. This will in turn also attract more members as the accessibility to libraries resources will become easier. Subscription to electronic resources may also help in reducing expenditures such as postage. This will make circumstances even easier if the respective library has an institutional affiliation, as the internet costs are generally incurred by the institution.
Merits and Limitations
When the economic situation is not ideal, the library management is left with little choice. However, as allocation of scarce resource involves opportunity cost, the…… [Read More]
economic conditions and general dynamics of the Chinese economy in lieu of the changing social and political paradigm.
The further opening up of the Chinese economy will better the condition of the people of China and will improve the lot of the worker. The relaxation of 1979 has lead to an improvement of the overall economy and if China adopts a truly open economy the overall economic situation of the citizens will improve.
This hypothesis is going to be tested with the help of the previous data that has been collected and in the light of the previous events that have brought about a change in the economy of China.
The importance of trade for any country is very strong, since trade with other countries brings in foreign exchange and strengthens the economy. East Asia has been the among the fastest growing regions in the world over the…… [Read More]
Annual Financial eport Fiscal and Economic Condition Analysis
The Piqua City School District in Ohio
Accounting in the public and private sectors is often subjected to differences, some of these differences being also observable at the level of budgeting. One important difference is constituted by the fact that economic agents -- that is private, for profit entities -- will construct the budgetary presentation in the form of annual financial reports. These financial reports are generally composed from financial statements and their qualitative presentation.
Governmental agencies on the other hand are requested to construct comprehensive annual financial reports (CAF), which are more complex than annual financial reports. These reports contain added elements to the minimum elements requested from economic agents. In this order of ideas, while the financial statements are more detailed, the difference is also observed in the fact that the CAFs are composed of three main parts -- the…… [Read More]
The depression in the recent era can affect the productivity of workers along with their entire performance of work. The inability to concentrate on making informed decisions can lead to the accidents that can be unbearable. Moreover, the incident of Benghazi has caused the people of America being an employee to face chronic depression that may require them to take medication (Confer, Easton and Fleischman 112-115).
Today, only 56% of the entire population receives healthcare allowances by employers (Synder, 2011). The condition of America in the context of health due to the recent conditions causes disturbances in the emotional well-being. In other words, the face of America is undergoing fundamental changes that can cause a serious challenge for the current health care system of the country. The number of old people is continuing to increase, who are becoming the greatest consumers of health care system of America (Kraft and Yardley…… [Read More]
Baines does an excellent job of presenting both sides of this issue.
Chadwick, on the other hand seems bent on presenting the deplorable sanitary conditions of factories during this time. He was active in the reform of the Poor Law, and thusly all of his attention is focused on the negative aspects of working conditions for the factory workers. His Commission's report is chock full of the adverse sanitary conditions of the laboring population of England during this time. There is no doubt that not all workers during this time worked in conditions that Baines described. The conditions that Chadwick describes were probably true for many, but he neglects to mention the condition of the workers that Baines describes. Baines at least looks at both sides of the coin whereas Chadwick only focuses on one side and neglects to mention that not all workers in all manufacturing industries had to…… [Read More]
S. government uses are the tax rolls. To further define this further, any analysis should consider present tax rolls as compared to their classical 1930's Great Depression era equivalents. What gives the issue an even more ominous pessimism is that we now have a garrison effect to our economy that Franklin Delano Roosevelt did not have to deal with, that is concurrent land wars in Asia and Africa.
Tax Rolls-It looks a lot like 1932.
ardly a hostile source to President Obama, an NPR report title says it all when it says "Tax Receipts Fall Off Cliff; Worst Drop Since Depression." Now, we can more profitably harvest figures, basically that at the August 2009 date of the report, tax receipts dropped 18%. This was the biggest single-year drop since the Great Depression. In other words, across the board, the basis for the "stimulus" is not there in the style of…… [Read More]
The U.S. is a property owning civilization and a number of the people wanted land and housing. Americans however scarcely ever create savings. "The country itself lives on other countries' savings by issuing bonds to finance its excessive consumption. The current crisis began with cheap housing loans offered by banks. Banks provided loans but instead of holding the loan in their books, they packaged them into collateralized debt obligations (CDOs) and sold them to other agencies. These agencies passed them on to others and spread them globally as assets" (the Current Economic Crisis, its causes, its impact and possible alternatives, 2009).
Interest rates were lowered and housing loans went up with construction activities leading to land prices increasing. The real estate was booming, generating employment and incomes. But as the rate of interest on housing loans came down, banks started to compete to get more business. Because of low interest…… [Read More]
The outlook was very negative in August and September -- there were some serious issues such as the debt ceiling debate that could have been responsible for the strong negative outlook. The outlook has turned slightly positive of late though, an encouraging sign.
Overall, the data provides a mixed signal about the state of the economy. The major headline numbers -- GDP and unemployment -- are improving. This is supported by the FOMC's statement, which has shown that rates are going to stay low. However, there are some mixed signals in the other data, including CPI, real earnings and durable goods orders.
The type of number of course is important. Some of the numbers are more sensitive than others, and some are better indicators of the economic conditions of the country. The Philadelphia survey, for example, is regional and subjective, which makes it a less useful indicator. Such data is…… [Read More]
Economic Challenges Canada Faces
In recent years, the challenging economic condition in Canada has emerged as a concern for citizens, policy makers and the government alike. Canada faces challenges in terms of creating a more innovative society, as the country continues to experience a significant productivity gap compared to other advanced industrial economies. The Canadian industry appears to be slower in successfully developing, applying and marketing innovative products, processes and services than a majority of other nations. This lack of innovation is the cause of Canada's low productivity growth and competitiveness, and therefore must be addressed in order to increase employment growth, a higher standard of living and an improved quality of life for all Canadians.
Current research predicts that although Canada's economic performance will gradually strengthen out of the recent mild slowdown into a better pattern of growth in 2004, Canada's economy still faces the longer-term challenge of increasing…… [Read More]
Thus, a region or nation experiencing economic depression will be unable to use the interest rate lever to boost the economy. Similarly a country with high inflation will be unable to independently raise interest rates to contain inflation. Moreover, Islamic countries, which form a large part of the geography, do not believe in interest rates.
Political barriers -- Political differences between nations make it extremely difficult for them to adopt a common currency. It can lead to a loss in political sovereignty as monetary interests would need to surpass political interests. This is unlikely to be acceptable to most of the nations and the idea of a single currency may be difficult to implement (Gimp, 2008).
Will Pros and Cons change Over Time? Depending On the Country?
The economic conditions to determine a monetary union depend on: the openness and size of the economy involved to trade; the free movements…… [Read More]
Economic indicators are used to measure the financial health of the economy. There are many methods and tools for measuring the economy and every economist has his favorite method. The health of the economy is measured by tracking certain indicators. Different economists use these indicators in various combinations. Some economists place more or less weight on different ones in making their predictions about which direction the economy will go. It is important to note the differences in measurement when assessing the opinions of popular economists of today.
This paper will be primarily concerned with the indicators, which would indicate whether we are currently in an inflationary economy or a deflationary economy. A recession occurs when real GDP declines for two successive quarters. However, the National Bureau of Economic Research (NBER) officially defines a recession as a "significant decline in activity spread across the economy, lasting more than a few months."…… [Read More]
S. The societal system practiced in France serves as a model towards which the U.S. aspire.
President Barack Obama's healthcare reform plan is considered by many as being a socialist experiment that will significantly hurt the economy (CBS, 2009). In opposition, the President has stated that he does not intend to implement a healthcare system that depends on the government. Instead, he would prefer a system in which the government competes with private insurance companies for selling coverage.
The Invisible Hand Principle
The invisible hand principle was developed as an opposition to the protectionist system. This principle is actually a metaphor describing the self-regulating characteristic of the market. In other words, such a system can be implemented due to a combination of factors, like self-interest, competition, supply and demand. Adam Smith, who developed this theory, considered that the action of these forces and their effects are able to allocate resources…… [Read More]
"The explosive growth of the global economy threatens the natural systems that sustain life on Earth. Despite some significant successes in reducing industrial pollution and increasing efficiency, globalization is devastating natural habitats, speeding global warming, and increasing air and water pollution" (Anonymous). It is in the nature of such an economic globalization to cause negative effects. Globalization has its benefits as well which hold substantial weight.
Advocates for economic globalization state that it is aimed at removing poverty and increasing wealth among the poor. This has been seen not to be entirely true and the gain of wealth is seen only in the upper or elite classes. The rich are getting richer while the poor are getting poorer. Although food has increased, hunger rates have also increased. It is seen that the top class is becoming multibillionaires and today there are more billionaires than yesterday. However the lower class is…… [Read More]
Economics of International Trade China
Exploring the Economics of International Trade: China
"Chinese international trade has experienced rapid expansion together with its dramatic economic growth which has made the country to target the world as its market," and its expansion has only continued to show powerful growth within the international economic marketplace (Sun & Heshmati, 2010, p 1). After China was reopened to trading with the West in 1978, the country has really took off in becoming one of the world's biggest producers and exporters of a plethora of different goods. China has grown tremendously as nations like the United States have become their biggest trading partners. In response, China has helped refuel this growth with the manipulation of their currency and their heavy investment in the U.S. dollar, which ensures them a more competitive position for their exports.
For generations, China had closed itself off to trading and interacting…… [Read More]
Economic Change in Saskatchewan
"If there were a change in Saskatchewan's economic circumstances from one of "boom" to one of "normal" or "bust," which current areas of government activity would you expect to be affected by this change, and, what would you expect the government's policy response to be to adapt to these new economic conditions?"
Currently, Saskatchewan was seen significant and rapid development in economic activity. The province has been able to take advantage of the rich supply of natural resources and exports many commodities to global markets. Much of the growth that the area has experienced can be attributed to the growth of potash and oil. However, these resources may not sustain the levels of economic growth that the region has experienced indefinitely. If Saskatchewan does not work to diversify its economy then the economic boom that it has experienced could slowly dwindle away. Furthermore, if…… [Read More]
A negative consequence, however, would be increased volatility in the value of the dollar. Imports would become more expensive as well, increasing inflation and potentially compelling the restructuring of the economy. Increased currency risk -- transaction and translation -- would also create difficulties for U.S. companies operating abroad. I do not support such a proposal. Attempts to jury-rig a global currency are as impractical as enforcing Esperanto as a global language. Such a currency would be inherently unstable, as the Euro example has shown us. The constituent communities would be committed to enforcing controls on each other in order to maintain the integrity of the currency. If at some point the currency of another economy overtakes that of the U.S., it will be because that economy is stronger, larger and more stable -- fundamental market forces -- rather than as the result of a political decision.
3. a) The Fed…… [Read More]
Economics for Business
The company that I am studying is Apple. The company is a designer and marketer of consumer electronics, specifically computers, smartphones, tablets, mp3 players and software. The company has experienced a strong run of great performance in recent years, but it has not always been that way for Apple. The company struggled considerably, especially in the 1990s, before breaking loose. The key thing about Apple is that it has always sought to differentiate itself. Over the course of the past ten years, we have seen most of Apple's former competitors in the personal computer space leave the industry. The reason is that the computer industry is moving towards the strategic hell of perfect competition.
The term strategic hell reflects the condition of perfect competition. In the real world outside of economics textbooks, few markets can be truly understood to be perfectly competitive. Perhaps a vegetable…… [Read More]
Ultimately, these issues results in hunger and famine, where these inhabitants become deprived of the basic facilities that they are entitled to, as being a citizen of the country (World Hunger Education Service, 2012).
3. Impacts of Hunger and Famine in U.S.
The standard of living means to have a healthy, vigorous and active life. Keeping in mind, the standard of living, the hunger crisis in the U.S. is calculated and determined when its residents are not able to meet the nutritional needs to live a dynamic life. This indicates the fact that the people have lack of access to the nutritious, healthy and safe food. As a consequence, the inhabitants (especially of the low-income groups) tend to opt for foods that are less expensive with usually low nutrients, so that they can meet up to the financial components. Moreover, it has also been observed that meals are also dropped…… [Read More]
The customers want to watch out the promotional offers, and a recent survey showed that in many cases it would take discounts of up to 50% to persuade customers to make a purchase (Business Insider, 2012). Therefore, rather than appreciating the more consistent everyday low prices, the JC Penney customers have seen the move as taking away their opportunity to purchase goods on promotional offers. The result has been significant, in the first quarter alone the company saw revenue drop by 20%, with the firm losing 10% of their customers (Bickle, 2012). The strategies continue to struggle, with the 2012 revenues amounting $17,260 million, compared to $17,759 million in 2011, the result of 2012 was the lowest revenue in the last five years (Morning Star, 2013). This has had an undeniable negative impact on the company stock, following an initial gain of the strategy was announced, the firm has struggled,…… [Read More]
Economic and Professional Performance
This is a paper that explores the economic and professional performance of Mexican-American and Chinese-Americans.
There are six references used for this paper.
The United States is a country rich in diversity. It is interesting to look at Chinese-Americans and Mexican-Americans and determined their professional performance, as well as their economic performance.
Mexican-Americans are one of several groups which make up the Hispanic population in the United States, and are found mostly "in California, Arizona, New Mexico, Colorado, and Texas. Although there may be cultural differences, most Hispanics share North American values, including a desire for upward mobility (Coates)."
Many Mexican-Americans find their efforts to improve their economic condition challenged by their language skills and education levels. The majority of Mexican-Americans speak Spanish and understand little or no English. Education "is a serious problem, partly because many Mexican-American families are migrant workers who move…… [Read More]
Many businesses could no longer operate in this fashion and likely closed their doors leading to a rise in unemployment. This is an example of the rule that Hitler had on the Pre-World War II German economy. The people of the nation were completely subject to his policies and because the economy was in such a vulnerable position as a result of the First World War, that Hitler's policies were looked upon as providing assistance to the nation. The research indicates that Hitler's rule over Germany managed to counter the rise in unemployment with institution of the German Labor Service and other workforce and labor programs.
Pre-World War II Unemployment in Germany
etween January 1933 and July 1935 the number of employed Germans rose by a half, from 11.7 million to 16.9 million.
. Under the rule of Hitler, more than 5 million new jobs paying living wages were created.…… [Read More]
Shift from Central Planning to Market Economy
The Turkish economy is in what might be termed semi-precarious health. It could certainly be worse, but also certainly be better. Since its birth as a nation-state into its current shape in 1923 in the wake of World War I, Turkey has operated a mixed economy, in which both state and private enterprise have contributed to economic development. (Indeed, it is arguable that all country's in the world today have a mixed economy; the United States may be a bastion for private enterprise but many workers also benefit from government money, such as the money awarded by the federal government to private companies in the form of defense industry contracts.) Since the end of World War II, the economy has been transformed from a predominantly agricultural one to one in which industry and services are the most productive and rapidly expanding sectors even…… [Read More]
He also said that it was high time that every person in the world stopped being economically defensive and started to become politically courageous. At the same summit, the Minister of Sustainable Development and Planning and Head of the Economic and Social and Ministerial Council of Bolivia said that a responsible community would make up and constitute the very basis of global sustainability and stability, and sustainable development was what had helped Bolivia survive through all the years of economic instability and political unrests that it had been subjected to all the previous years. (esponsibility for each other- as Johannesburg's High-Level Segment Begins)
However, though it is widely accepted that Bolivia is indeed heading in the right direction today, it is still lacking in clear markets, and in a complete access to the various technologies that exist in the world today, and also in a guiding mechanism that would help…… [Read More]
Growth The retailer sector was lately affected by the back-to-school shopping season, which did not start so well, as midprice department stores, discounters and specialty-apparel retailers announced disappointing sales results during August, which reinforced the already much debated concerns that consumers are not comfortable with the current state of the economy and are reluctant to consume, considering the shaky and uneven economic recovery.
However, luxury department-store chains managed to post significant earnings, as they benefited from the help of an important number of upscale shoppers. Still, the effects of higher gas prices and the rising value of grocery bills, combined with lackluster job growth were severely felt by moderate- and lower-income shoppers.
Michael Niemira, chief economist and director of research at the International Council of Shopping Centers feels that "There's weaker-than-expected performance," due to the fact that "there was a slowdown in spending, but some results are exaggerated by…… [Read More]
The number of educational institutions remained the same and child labor has also stagnated. Entrepreneurs were still allowed to employ children, which they did moreover when they paid them lower wages.
Just like with the Meiji Era, the British Industrial evolution opened new horizons and generated numerous development possibilities for the country and its population. The most important contributions were felt in the technological sector and materialized in a wide series of advancements. "It was not only gadgets, however, but innovations of various kinds -- in agriculture, transport, manufacture, trade, and finance -- that surged up with a suddenness for which it is difficult to find a parallel at any other time or place. The quickened pace of development is attested by the catalogue of new patents, the lengthening list of Acts of enclosure, the expanding figures of output and exports, and the course of prices, which, after remaining roughly…… [Read More]
Purchase of any item may be an ordinary activity for most people, but in economic terms, it is probably one of the most significant activities that govern and shape the business cycle and affects the economic conditions of any organization or country. Purchasing is directly connected with the concept of consumption. The more a person purchases, the higher is the rate of consumption and vice versa. But purchasing or consumption, for that matter, doesn't take place in isolation and several different concepts come into operation when a single consumption activity takes place.
Let us illustrate this with the help of an example. Suppose a couple decides to purchase a car. On the surface this might be an ordinary everyday transaction where money goes from one party to another as the result of which ownership changes. The car becomes the property of the consumer while his money becomes addition…… [Read More]
economics problems from a broader perspective, we need to apply macroeconomic principles. These principles help in understanding collective problems that various industry or countries are encountering and the role government can play in this connection. The paper studies current economic problems in the Transportation sector and explains how levels of supply and demand affect the demand curve.
MACOECONOMICS AND TANSPOTATION SECTO
Macroeconomics deals with economy on a larger scale and studies the principles of economics as they pertain to the whole industry and not just one firm. This helps in understanding national economic problems of inflation, unemployment, slow GDP growth, lower productivity etc. Therefore it is important to apply macroeconomics principles when we want to study and understand the problems being encountered by any economic system. For example in these days of slow growth, we notice that United States economic problems can be better understood in the light of macroeconomics…… [Read More]
These can include the stimulus package, though, because the Obama Administration is still offering stimulus dollars to banks and other companies that need help and cannot take care of their customers in the way that they used to and preferred to.
Figure 1: How Severe is the Subprime Mess?
Obviously, the subprime mess is a serious concern for everyone. The stimulus package was designed to help the banks and the people who borrowed from them with the fact that they could not pay for the debts that they had created for themselves. That was true for the people who had mortgages, and also true for the banks that loaned money to these people. The stimulus package was designed to help them both out so that they could take care of their debts and move forward again. However, the economic stimulus package has not fixed everything that was hoped. There are…… [Read More]
economic indicators: housing starts and personal income. A brief definition is given of each, as well as the current state. In addition, historic charts are presented with data for both indicators.
Define housing start economic indicator. Describe its current status. In addition, present a separate graph illustrating the historic trend for housing starts.
US Housing starts figures are reflective of the number of residential units, on which construction is began, for a specific time period. These starts are reported by the Bureau of the Census around the 16th of each month. Economists forecast housing starts by using the current month's permits to predict starts. Typically, building permits run in tandem with building starts. Housing starts are considered to be a leading indicator of the economy ("Housing starts," 2000).
A drop in mortgage rates is often followed by an increase in building permits and then starts. During turning points…… [Read More]
traditional, neoclassical school of economic modeling prescribes a "recipe for economic growth." Economic growth is a process of moving resources from low growth, agricultural areas to higher growth, industrial areas. The neoclassical school also does not see anything slowing the progress of moving from low growth to high growth areas. The neoclassical model in the form of Harrod-Domar model assumes that an increase in savings and investment will lead to economic development. Even though productivity is improved employment does not increase and income does not improve so correspondingly demand for products does not occur. Government intervention has hampered economic development by funneling resources into the wrong types of industries. Instead of taking advantage of industries where a country has a relative advantage, resources have gone to industries that the government wants to develop. One area where the removal of restrictions is essential is in the area of international trade. Increasing…… [Read More]
Economies of the UAE
Economics of the UAE
Current analysis of UAE Economy
Historical economic aspects
Discussion of basic economic indicators
GDP: per capita GDP; growth rate of GDP
Natural / Human resources & Infrastructure
Exchange ate Behavior and Forecasting
Demographics (age distribution)
Short-term and long-term prospects/forecasts for UAE Economy
Current analysis of UAE Economy:
The Persian Gulf states including Abu Dhabi, 'Ajman, Al Fujayrah, Ash Shariqah, Dubayy, Umm al Qaywayn, and a's al Qaywan are represented as UAE. The states follow an open economic and moderate political policy. The states are rich in oil reserves providing a structured support for their economic and social progress. The strong economic position of the states has enabled them to earn a competing position with the developed western countries. The continuous growth in economy has also enabled the businesses to invest in UAE. The governments of UAE are…… [Read More]
disrupting America's economic system is a fundamental objective of terrorists
Even as the world continues to struggle with the terrible shock from the September 11 attacks in New York and Washington, one principle lesson has already become clear: disrupting our economic system is a fundamental objective of terrorists.
Prior to September 11, our economic environment was certainly not immune to terror, in comparison to many other nations; we lived relatively terror-free. Now, however, the aftermath of the terrorist attacks serves as a grim reminder that international relations and security developments can dramatically affect economic performance.
US History is replete with countless examples when macro fundamentals are overtaken by what economists refer to as, exogenous shocks -- surprise events that can profoundly and often unpredictably shift political and economic resources, and send even the most accurate forecasts astray. Commodity shocks, such as the two OPEC jolts in the 1970s, are classic…… [Read More]
Kenyan reform policy Successful?
The need for reform in Kenya has been clearly demonstrated. But the question remains, has this reform been successful? The slogan of "Harambe" fueled the passions of the Kenyan people and drove them to strive as one nation to lift themselves up from poverty and oppression. It has been ten years since the last reform and it is now time to look back and see what has been accomplished.
To measure the success of the reforms we will consider several economic indicators both before the reform and after to see how they have changed. Then these factors will be considered as a whole to develop a better outlook on the entire picture. e will consider education, the performance of the industrial sector, the trade and tourism sector, the finance sector, rate of inflation, employment and wages, the agricultural sector, construction, social services and some comments on…… [Read More]
chief economic principle that must be confronted in the horrifying picture Steven Brill paints in "Bitter Pill: Why Medical Bills Are Killing Us" is the devastating effect caused by economic monopoly. Brill tiptoes around the issue, and basically defines monopoly by the concept of "powerless buyers" -- -but the economic conditions that render buyers powerless are economic conditions that restrict a buyer's freedom of choice, which is precisely the problem with American medicine in Brill's article. Doctors -- or by extension the Medical Industry -- represent a monopoly. There may be a plethora of pharmeceutical companies that exist, and which ostensibly compete under heavily regulated industries (which include a close government supervision on potentially monopolistic new inventions, such that copyrights and patents in pharmaceuticals are guarded under law for a mere fraction of the time that the copyrights and patents, for example, involved with Walt Disney's trademark cartoon character Mickey…… [Read More]
More importantly, the puritans had considered essential for the future of economic success the access to education and therefore established elementary schools throughout the state (Wright, 1947). Therefore, the degree of literacy was greater than in other parts of the country because there was a comprehensive access to education.
By comparison, the South was different in this area. The southern society had a particular system of private tutoring which allowed children to have access to education. However, for ordinary people, this was not an option and they most often appealed to the assistance of the minister. Still, the quality of education received in this way was limited and in many situations the young generation remained illiterate. It can be said therefore that the poor level of education was in part due to the lack of financial support and in part to the economic practices existing in the South which did…… [Read More]
economic tools concepts to evaluate a current issue situation which exist today in the U.S. health care industry
There are two sets of health issues and many players in the health industry. One set of paradigm deals with the public and private health care issues, and another the emerging trend of market oriented changes in the health care industry. Hitherto health care was a public service but has now transformed itself into a competitive industry. In other words it has become a part of the national economy and economic analysis is not only important to care givers and institutions, but is also important to doctors and medical workers because the health industry is highly competitive. The debate on public health issues changed in the past with more scientific developments and insight into community care and medicine. (Fox; Ludden, 1998)
Some of the modern developments of the end of…… [Read More]
economic and cultural convergence brought on by globalization and its subsequent mixing of previously unknown combinations of workers. What is excellent about the Tyson case is that it illustrates in a macro and microeconomic way there is an amazing convergence upon workers as well upon the business systems from radically different countries and their importation and reconstitution in a U.S. type of corporate culture.
What are business systems? As usually defined, it is "A methodical procedure or process that is used as a delivery mechanism for providing specific goods or services to customers (Business Dictionary 2011)."
In terms of theoretical sociological approach, it is hard to see Steve Striffler as anything but an anti-positivist. In his approach, a precise analysis of "Mexican" as an ideal type, even though Laotians and Marshallese were included in the group, even Striffler was "almost Mexican" due to his presence amongst the workers not just…… [Read More]
history of unions in Western Pennsylvania is strong and rich. Factors including locality and population growth made western Pennsylvania, more specifically Pittsburgh, an ideal place for various industries. Sullivan (1955) asserts that Pennsylvania was ideal because it possessed many natural resources. The state possessed wooded mountains and fertile valleys. In addition, the state provided access to huge deposits of coal and iron ore. Sullivan (1955) the author also explains that the landscape was ideal because of the two waterways, the Delaware and Chesapeake ay, which provided access to world markets for Pennsylvania's various natural products (Sullivan 1955).
'This richly-endowed colony with its heterogeneous population was destined to assume a commanding position among the English settlements in North America. Throughout the eighteenth century, its commerce and industries held a preeminent position in ritish America, and Philadelphia, its capital, was unquestionably the cultural and intellectual center of the thirteen English colonies (Sullivan…… [Read More]
If there is a risk that one of the family members will lose his or her job, that will add risk to the purchase decision. The riskier the purchase decision, the lower the price will need to be in order to compensate for that. Another factor here is the expected change in housing prices or interest rates. Buyers are inclined to enter the market if they believe that the cost of home ownership will be higher next year, but they may delay purchases if they believe that costs will be lower next year.
ith new home sales last summer, the dip could be in part due to worries about a double-dip recession. The summer was characterized by an inane fight over the debt ceiling, something that shattered confidence of many in the political system, and some of the key actors within that system. A fractured political system is one that…… [Read More]
The revelation of the financial crisis that unfolded in United States in 2008 is considered to be the worst economic crisis since the Great Depression, 1929. The distinctive causative factors that have contributed to the U.S. economic crisis 2008- 2009 are differentiated by aggravated financial control, higher risks in capital investment, the housing bubble phenomena in relation to the brisk credit expansion. The aggregation of these factors in the U.S. economy directed the economy towards the de- leverage and credit crunches as the bubble burst. The following paper shall be discussing about the degree of correlation between the tax implications policies with respect to the financial crisis in U.S.. The precise review of strong linkages between the taxation and economic crises is the explicit explanation of the crisis that shook America. The paper also highlights the key factors that demonstrated their abilities and rescued U.S. In the economic…… [Read More]
Economic Crisis Policies
US current economic crisis is considered to be started from real estate sector. The real sector started to decline in 2006 and it accelerated in 2007 and 2008. Housing prices have fallen from the peak from about 25% so far. The decline in prices left homeowners with no option and they were unable to refinance their mortgages and causes default of mortgages. This default of mortgages and loans swallowed the banks and financial markets such as falling of Lehman's brothers and other anks and blow to rest of economy happened as the whole economy was relying on banks and ultimately it slows down investment in the country and capital flows to other parts of the world like China and India. ank losses cause reduction of bank capital which in turn requires capital reduction thus saving bank from lending. It is estimated that every $100 loss and reduction…… [Read More]
Economic Final Report
Types of economic systems
Economic systems vary from one nation to another. Traditional economic systems refer to an economic system founded by tradition. The services and goods that people provide through the work they do, how people exchange and use the resources are trends that follow permanent patterns. These are not dynamic economic systems because there are minimal changes. In this economic system, people live on static standards. They do not enjoy much occupational mobility and financial mobility (Gregory and Robert 19). However, it is possible to predict economic relationships and behaviors. People are aware of what they are expected to do, why they trade, they know what others should give to them. In traditional economic systems, the interests of the community are of great priority than individual interests. People collaborate at work and labor proceeds are shared equally. However, in some traditional economic systems, individuals respect…… [Read More]
Increases in manufacturing reveal benefits early, one can track the benefit at all stages and report the benefits to the public quickly. According to a statement released by the Center for American Progress, "solar panels don't install themselves. Wind turbines don't manufacture themselves. Homes and buildings don't retrofit or weatherize themselves. In our industrial society, trees don't even PLANT themselves, anymore. eal people must do all of that work." The public wants a quick fix, they want to start hearing that the economy is doing better and a focus on manufacturing will accomplish this. Additionally, there has been increasing pressure on the White House to focuses on alternative energy sources. Such a policy would gain favor with democratic and liberal environmentalists.
4. Do you consider your views to be more aligned with a classical or Keynesian approach to economic thinking? Explain. (There is no right or wrong answer). See module…… [Read More]
The economic policy tools that were employed just after the war subsequently underwent some changes. From 1947 to 1950 direct controls on wages and distribution were eliminated followed by removal of trade controls in 1958. However, the government continued to maintain its hold over prices and credit distribution which made it different from many of its neighboring states in the postwar period. The French Ministry of Finance exerted greater control over the economy than the Bank of France. This led to a greater predilection to resort to devaluation when external equilibrium resulted due to the state failure to control incomes. In France, the period between 1945 and 1975 was known as the "thirty glorious years" because of the phenomenal economic performance. During this period, the average growth rate of GDP was around 6.8% which was quite remarkable considering that Britain's average GDP growth rate was 2.4% and Germany's…… [Read More]
There are several factors that could contribute to increased demand for owner-occupied housing in the United Kingdom. Given that this demand is presently suppressed by a poor economy, most of the conditions under which demand would increase involve finding ways to boost overall economic performance. One normal policy prescription, lowering interest rates, is effectively off the table with the current rate at 0.5% and the Bank of England expected to maintain this rock bottom rate for the foreseeable future (Oxlade, 2013). Banks could lower lending rates to buyers, but these rates are usually based on spreads relative to the rate at which banks borrow, so there might not be much flexibility for banks to lower rates profitably.
One way would be to boost the economy through fiscal stimulus, government putting money into the economy instead of taking it out. This would create better demand conditions, and would also give…… [Read More]
This is a pattern that is relatively consistent over a long time period (Clayton & Spletzer, 2006). The only difference in 2005 was that unemployment claims did not rise in the fourth quarter with the drop in jobs, as they had done in the past.
It is difficult to draw definitive conclusions as to where these employees went in the fourth quarter of 2005. To do so would be filled with generalizations that do not account for all of the factors involved. However, it can be surmised that in the fourth quarter of 2005, workers in New Orleans went elsewhere and were dispersed into other economies. Statewide numbers do not support a change that is significantly different from other years. Therefore, it does nor= appear that this diaspora had an impact on a state or national level. The only reasonable explanation is that unlike other years, where workers filed unemployment…… [Read More]
The national unemployment average was 7,591,000 in 2005. Therefore, an addition of 8,500 people would represent a.11% change in unemployment. Factor in additional domestic job losses from the closing of that company, and it is very possible that the closing of Pratt & Whitney would be enough to cause a reversal in the current trend, which is a decline in unemployment rates.
Connecticut's unemployment compensation would experience the most immediate and dramatic impact. For example, if all of Pratt & Whitney's employees are entitled to full unemployment benefits, then the first unemployment cycle for those employees would result in over $4 million in unemployment benefit payments. If all of those employees remain eligible for unemployment for the full benefit period, those payments would total over $104 million. Those estimates may be high, because not all employees would qualify for the full benefit payment or for the entire benefit period. In…… [Read More]
These decisions necessarily entail that some potentially productive opportunities are sacrificed in order to make what is estimated as the most productive choice.
Supply and demand refer to specific products and services, the ability to provide these, and the level at which they are desired by the target market. uyers desire a product or services, and therefore demand a certain quantity of these at a certain price. The relationship between the price and quantity of desirability is the demand relationship. Supply is the actual quantity of the product or service that the market can provide. The concept of supply relationship is the correlation between supply and the price received by the supplier, who is willing to supply a certain amount of products at the price received.
The dynamic in the relationship between demand and supply has a direct influence on the efficient allocation of resources within an economy, as well…… [Read More]
The need for the preservation of these resources is because of the fact that it is finite or limited. Abused utilization of these resources will deplete it and will eventually endanger the future inhabitants of the earth, leaving them nothing for the production of their own needs. Without the resources, there will be nothing to work on in the first place. Achievement of economic stability is the first step in order to achieve the other social goals. Since there are resources, there can be economic efficiency whereby goods can be produced at a lowest possible cost because of the availability of resources. Economic freedom or the right of a man to engage in voluntary economic activities, economic equity or justice particularly in terms of taxation and welfare economics, and economic security or security in employment can be settled between the government and the people in order to achieve them. All…… [Read More]
Producers do not want to produce too much, lest there be waste. Consumers do not want to spend too much, because their resources (for most people anyway) are inherently scarce.
Hayek makes the point about there being different types of knowledge. In his free market economy free from centralized planning, he argues that each individual has different knowledge -- each specializes. This allows the millions of people who are making economic decisions to have the ability to gather and process as much information as possible. ith more information, better decisions are made. By delegating decision-making to millions of economic actors, each operating within their own specific area of expertise, decisions are going to be better. They will be based on more information and more specialized knowledge to interpret that information.
He argues that economic planning inherently must be based on cycles, such that there is day-to-day adjustments. Such a situation…… [Read More]
Economic Environment of a Business
The objective of this work is to summarize the economic environment of a business including information relating to microeconomics, macroeconomics, and international trade aspects
The business organization is a "micro-economic unit" and the business environment is that which makes provision of the "macro-economic context within which firm operates." (eddy, ) The business environment can be categorized into the 'economic' and non-economic' and the 'micro- and macro-environment. (eddy,, paraphrased) The firm is an economic institution in a market system with the behavior of the firm reflecting the result of the decisions that were economic in nature that the manager of the firm made.
The economic environment of a business in today's globalized business society is complex in nature. There is an inherent link between the business sector and it relationship with the government, capital market, household sector and the international business sector -- all of which…… [Read More]
Source: The Financial Forecast Center, 2009
Increases in unemployment rate mean that the gambling industry will be faced with fewer customers. This in turn will materialize in reduced sales and profits. If the situation continues to aggravate in the years to come, several players in the gambling industry might have to close their casinos. One must also notice the exceptional situations in which out of job individuals will gamble in the hope of winning some money. However, these instances are reduced and not able to modify the indirect relationship between the evolution of unemployment rate and demand for gambling services. Vice versa, when the unemployment rate decreases and the population enjoys more sources of revenues, the demand for the services of casino clubs increases.
2.3 Inflation rate (consumer price index)
The inflation rate represents the "percentage increase in the price of goods and services, usually annually" (Investor Words, 2009). Within…… [Read More]
The nation will enforce law and order to protect its public property, regulate monetary frameworks and correct market failures. The government will be responsible for protecting private life of its citizens and property (Grant & Vidler, 2000).
Market and Competition Forces: the country's economy should be designed in such a way that it will promote competition. This is because competition means a fair deal in obtaining results. The government should increase sellers and buyers in the market because this would promote competition thus increasing the quality and efficiency. With competition, the country will be able to control and manage different functions of its economy (Grant & Vidler, 2000). Demand and supply are the prime market forces determining the production of a country produces and the suitable ways to do so.
Market equilibrium, price and output, are determined by market forces. Therefore, I would recommend that any least developed nation to…… [Read More]
The supply and demand simulation featured a number of different economic prniciples at work. In terms of microeconomic principles, two that were featured prominently was the relationship between supply and demand. The impact of these two variables on the price and availability of apartments in Atlantis was at the core of the simulation. Another was price elasticity of demand. There were also some macroeconomic principles outlined, as they affect supply and demand. One was the overall population, its growth and demographic change. These factors all contribute to the supply and demand characteristics of the Atlantis rental housing market. Another macroeconomic concept that came into play was the concept of equilibrium and the effects of price ceilings on both supply and demand.
External factors cause the supply and demand curves to shift. The supply curve is shifted, for example, if there is new supply in the market. A new building…… [Read More]
There are a number of different causes for the most recent recession in the United States. The primary cause was instability in the banking industry, which was brought about mismanagement of mortgage assets. This paper will investigate this cause in particular, although there were other causes as well.
The housing bubble was created when, fueled by easy access to cheap loans, housing prices increased rapidly. These prices increased rapidly in part because the financial institutions that underwrote the mortgages were able to offload that debt onto other investors. They did this by packaging that debt into instruments that were known as collateralized debt obligations (CDOs). These rare derivative instruments were used by financial institutions to hedge loan risk, by spreading that risk around the financial services industry. Loans were packaged, and these complex bundles of loans were typically seen to be low risk. They were not, however, and when…… [Read More]
Another fiscal policy that could be implemented is for the government to spend more, thereby increasing aggregate demand. This may have an impact on consumer confidence about the long-run state of the economy, but those long-run concerns are not driving consumer spending today. At this time, the spending policy is something that government can pursue. If poorly targeted, however, its impacts will be temporary. Indeed, if everybody knows that the measure is temporary, this will not affect consumer confidence or business investment in the long run. However, if the policy appears permanent, then the responses could be more permanent in nature as well.
Lowering taxes on that bottom 80% will increase consumer spending, but again might not improve consumer confidence because it only makes the long-run deficit problem worse. Only spending on job creation, therefore, is recommended because it serves to a) address some of the crippling issues relating to…… [Read More]
The recession of 2008-2009 and the subsequent government responses provides a good test for economic theories. There are no controlled experiments in economics, so we can only work with case studies in order to understand how economies work. A good starting point is to consider the issue through multiple different lenses, so that we can understand how the crisis occurred and what prescriptions might be best suited for response either to address the root problems or to engage in prevention. This paper will consider the works of Marx, Schumpeter and Keynes in analyzing the financial crisis. All three of these men would have been able to understand its causes, but likely would have taken very different approaches to solving the problem.
The second issue at hand is the question of the future of capitalism. We have a pretty good sense at this point of what the response of…… [Read More]
Both Keynes and Kalecki use Marx's theories as a starting point but quickly moved into new ways of thinking, particularly with regard to effective demand being oriented toward the demand-side. Marx had remained rooted in supply-side demand function, rejecting Say's Law only to note that demand did not necessarily meet supply.
Marx, K. (1867). Das kapital: A critique of political economy.
Mandel, E. (1995). Marx's theory of crises. International Viewpoint. Retrieved April 24, 2010 from http://www.internationalviewpoint.org/spip.php?article289
Argitis, G. (2003). Finance, instability and economic crisis: The Marx, Keynes and Minsky problems in contemporary capitalism. University of Crete working paper no. 0307.
Green, F. (1991). Marx, Malthus and wages: A comment on Cotrell and Darity. History of Political Economy. Vol. 23 (1) 95-100.
Magdoff, F. & Magdoff, H. (2004). Disposable workers: Todays' reserve army of labor. CBS Marketwatch. Retrieved April 24, 2010 from http://findarticles.com/p/articles/mi_m1132/is_11_55/ai_n6137106/
Sebastiani, M. (1989). Kalecki and Marx…… [Read More]
It is thought that the pace of the recovery will be slowed by people's desire to rebuild wealth, still-tight credit conditions facing some borrowers, and, despite some tentative signs of stabilization, continued weakness in labor markets. With considerable resource slack continuing to suppress cost pressures and with longer-term inflation expectations stable, it is thought that inflation subdued for some time (Monetary Policy eport to the Congress, 2010).
The Federal eserve has continued to support the functioning of financial markets and promote recovery in economic activity doing a wide array of things. The Federal Open Market Committee (FOMC) has maintained a target range of 0 to 1/4% for the federal funds rate throughout the second half of 2009 and early 2010. They have also continued to purchase Treasury securities, agency mortgage-backed securities (MBS), and agency debt in order to provide support to mortgage and housing markets and to improve overall conditions…… [Read More]