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Economic Impacts of egulation
egulation is a written instrument that contains rules with the force of law (Ogus, 2004). egulation as a process involves monitoring and enforcing rules, established through primary or delegated legislation. egulation usually creates, constrains or limits a right. In addition, regulation creates and limits a duty besides allocating responsibilities (Ogus, 2004). egulation may take several forms depending on its application. These includes legal restrictions made by the government, contractual obligations, which binds several parties together, self-regulations by industries, third party regulation, co-regulation, market regulation, certification and accreditation
egulation made by a state tries to produce outcomes that might not occur (Ogus, 2004). In addition, it attempts to prevent or produce outcomes in various places to what might occur. Through this, regulation becomes an implementation object of policy statements. Examples of regulation include controls on prices, market entries, wages, pollution effects, employment of particular people within certain…
Amato, G., & Laudati, L.L. (2001). The anticompetitive impact of regulation. Cheltenham [u.a.: Elgar.
Grabowski, H.G. (2009). The impact of regulation on industrial innovation: [a workshop on the Impact of Federal Regulations on Industrial Innovations, New York, May 2-3, 2008]. Washington: National Academy of Sciences.
High, J.C. (2001). Regulation: Economic theory and history. Ann Arbor: Univ. Of Michigan Press.
Loayza, N., Serven, L., Oviedo, A.M., & World Bank. (2005). The impact of regulation on growth and informality: Cross-country evidence. Washington, D.C: World Bank, Development Research Group, Growth and Investment Team.
Economic Impact Study: Students at Schreiner University
An economic impact analysis is designed to estimate both the direct and indirect effects on the economy that are associated with any given type of expenditure. In other words, an increase in the demand society has for a product sets in motion a series of various expenditures from the companies and organizations that provide what is needed to make that product. The parts and labor have to come from somewhere, so the economic impact is not just on the company from which the product was ordered, but on that company's suppliers and their suppliers, all the way down the chain. When it comes to services, though, such as would be seen with higher education, the economic impact analysis is somewhat different. Since the student is not ordering a good or a product of any kind from the school, there is more to the…
Joint Economic Committee. (2013). The causes and consequences of increasing student debt. United States Congress. Retrieved from http://www.jec.senate.gov/public/?a=Files.Serve&File_id=d7937b2f-e01c-4721-8b8b-09f5776725a1
Kadlec, D. (2013). Student loans are becoming a drag on the U.S. economy. Time Business & Money. Retrieved from http://business.time.com/2013/10/18/student-loan-are-becoming-a-drag-on-the-us-economy/
Schreiner University. (2014). Schreiner.edu. Retrieved from http://www.schreiner.edu/financialaid/value/index.aspx
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…
Arnall, D. Two Years Later: Katrina's Economic Impact. August 28, 2007. ABC News. Money. Retrieved May 19, 2008 at http://www.abcnews.go.com/Business/story?id=3529341&page=1
Bureau of Labor Statistics. (2006) Hurricane Information. Katrina and Rita. U.S. Department of Labor. Monthly Labor Review (August, 2006),
Clayton, R., & Spletzer, J. (2006). Worker Mobility before and after Hurricane Katrina. Monthly Labor Review. 129 (8), 14-21. Retrieved may 19, 2008 at http://www.bls.gov/opub/mlr/2006/08/art2full.pdf .
Colgan, C. & Adkins, J. (2006). Hurricane damage to the ocean economy in the U.S. gulf region in 2005. Monthly Labor Review Online. 129 (8). Retrieved May 18, 2008 at http://www.bls.gov/opub/mlr/2006/08/art7abs.htm
Economic Impact of the Malbec & Tannat ines in Argentina
ine Industry of Argentina
Role in exports
Improvement in labor market
Attraction of Foreign and local investors
ine Industry of Uruguay
Economic role of wine industry
Tourism industry and role of wineries
Exports of wine
Improvement of economy through wine industry
ine industry has played major role in the economic sustainability of both Argentina and Uruguay. hereas Uruguay has much smaller economy as compared to Argentina, the wine industry in Uruguay is developed and provides much of the economic support for the militarized country. In Argentina, the bulk and retail buyers flock the famous wine market called Mendoza and San Juan in the southeast region of Argentina. During the past two decades, Argentina's wine producing firms have significantly promoted their "malbec-based red wines in the world market. Huge networks of farms growing grapes have been…
Balbi, Maria Julia. Argentina Wine Annual. Global Agriculture International Netwrok: USDA Foreign Agriculture Service. (2012), 1-9. Web [http://gain.fas.usda.gov/Recent%20GAIN%20Publications/Wine%20Annual_Buenos%20Aires_Argentina_3-2-2012.pdf]
Castaldi, Richard, Susan Cholette, and Mahmood Hussain. A country-level analysis of competitive advantage in the wine industry. No. 6002. Alma Mater Studiorum University of Bologna, Department of Agricultural Economics and Engineering, (2006), 1-13.
Council of Foreign Relations.Mercosur: South America's Fractious Trade Bloc. Council of Foreign Relations, (2013). Web [ http://www.cfr.org/trade/mercosur-south-americas-fractious-trade-bloc/p12762 ]
GTSA. Argentine's Wine Industry has Worldwide Acclaim. Gateway South-America, (2013). Web [ http://www.gatewaytosouthamerica-newsblog.com/argentina-farms/argentinas-wine-industry-has-worldwide-acclaim/ ]
First, by linking public education funding to standardized test scores, the schools become accountable to the federal government for the funds they receive. Second, by providing parents with detailed reports about the performance of their childrens' schools, the NCLB increases accountability on a local level. In addition, proponents of the NCLB believe that the 100% compliance requirement goal of 2014 requires school districts to provide better educational services to minorities and other groups that have previously been the recipients of sub-standard educations. By requiring schools to use scientifically-based research practices, proponents of the NCLB believe that schools are being held to a higher educational standard under the NCLB. They believe that standardized testing provides objective measurements of performance, which they believe is critical to the vitality of a school. The first wave of standardized testing is aimed at the teachers, and seeks to ensure that they are proficient in the…
Boehner, John. "Frequently Asked Questions about No Child Left Behind." House.gov. 2004.
U.S. House of Representatives. 8 June. 2006 http://edworkforce.house.gov/issues/108th/education/nclb/nclbfaq.pdf .
Bush, George. "Foreword." Whitehouse.gov. Date Unknown. The White House. 8 Jun. 2006 http://www.whitehouse.gov/news/reports/no-child-left-behind.html .
Wikipedia Contributors. "No Child Left Behind Act." Wikipedia.org. 2006. Wikimedia
Economic Impact of Gambling
Along with "Wine, Women and Song," gambling was often considered a vice. Indeed, gambling has been a part of human civilization and culture since times immemorial. Gambling has paralleled human evolution. One can easily find instances of gambling in the ible and other historical references. Gambling can be defined as staking ones material possession for profit. In a broader definition, gambling can also be considered a pact where material profit is the ulterior motive. In modern times, perhaps incorrectly, gambling can be taken to mean any risk. As in "I 'gambled' on him (or her) doing this (or that)." For the purpose of this work, let's consider gambling in the narrow definition. Staking material possessions for profit. There are consequences to gambling. It can take forms of mild amusement. Or it can be a pathological condition. Indeed, gambling can result in injury to physical and emotional…
AmericanGaming.org. State of States: The Aga Survey of Casino Enterntainment 2002. 2002. AmericanGamingAssociation.org. Available:
http://www.americangaming.org/survey2002/ecconomic_impact/impact.html. August 23, 2003.
DeBerry, Jarvin, and Rhonda Bell. "Deadly Compulsion." Times Picayune Novermber 23, 1997: A1
Goodman, Robert. The Luck Business: The Devastating Consequences and Broken Promises of America's Gambling Explosion. New York: Free Press, 1995.
The onus of who is responsible, the consumer, the private institutions, or even the government will come into question. A brief revue of the history of the credit card is also in order since the use of "plastic" money has certainly contributed to the identity theft crisis. Past and current legislation will be analyzed regarding this new crime in both its cyber and analog presentations. Lastly, an opinion and possible suggestions for the consumer to help safeguard their identity as well as what government and corporate institutions can do to not only help the consumer avoid identify theft, but if it has occurred, to assist them in rectifying the situation before too much damage is done.
What is Identity Theft? The encyclopedic definition of identity theft is the use of another person's identity, i.e. financial, personal, geographic or other source, to commit fraud or other types of misrepresentation. By using…
Alt, B.L., & Wells, S.K. (2007). Fleecing Grandma and Grandpa: Protecting against Scams, Cons, and Frauds. Westport, CT: Praeger.
Bielski, L. (2001). Identity Theft. ABA Banking Journal, 93(1), 27.
Cost of Identity Theft." (2008) United States Department of Justice. National Institute of Justice. The Research, Development, and Evaluation Agency of the U.S. Department of Justice. Retrieved on October 20, 2008 from http://www.ojp.usdoj.gov/nij/publications/id-theft/cost-theft.htm
Dutta, S. (2007, October). IDENTITY THEFT: A Crime of Modern Times. World and I, 18, 290.
While Toyota denies this allegation, it is important for the company's very survival that it appear to be transparent and forthcoming in its approach to information and safety.
Economic Impact -- There are both macro and micro implications for the Toyota issue. The recall, of course, came at a difficult time for all automakers who are struggling to emerge from lagging sales. On the day of the recall almost 1000 jobs were cut in one Toyota plant, and the economic impact is expected to be about $2 million/month to total almost $2.5 billion. Toyota's stock shares fell by 15%, and the loss of jobs in manufacturing, sales, and dealer repairs has yet to be calculated. Additionally consumer economics are affected due to the devaluation of Toyota models, some now upside down on relatively new vehicles. Sales, too, are expected to dramatically fall, which has an effect on the local…
Even more, high inflation attracted large budget deficits. In order to cover them from one fiscal period to another, a great part of Canada's national savings had to be directed towards this direction. The effects consisted in public debt accumulation, which in turn led to increased risks in the country's interest rates.
And the chain of effects did not stop here. The situation continued with discouraged investments, especially where equipment and technology were concerned. This is a very important aspect, because of the fact that these factors directly influenced productivity.
In other words, without massive and continuous investments in equipment and technology, productivity cannot be improved. If productivity does not reach satisfactory levels at least, the general economic situation cannot improve. As a consequence, individual economic situation cannot be a satisfactory one either.
Even if matters seemed to be clear from this point-of-view, it took a while until Canada came…
1. Canada (2009). Central Intelligence Agency. The World Factbook. Retrieved June 11, 2009 from https://www.cia.gov/library/publications/the-world-factbook/geos/CA.html.
2. Dodge, David (2002). Bank of Canada. Governor of the Bank of Canada's Speech to the Canadian Society of New York. Retrieved June 11, 2009.
3. Ragan, C. (2005). The Exchange Rate and Canadian Inflation Targeting. The Bank of Canada. Retrieved June 11, 2009.
4. Phelps, Edmund (1970). Inflation Policy and Unemployment. MacMillan. Retrieved June 11, 2009.
The long-run price elasticity of demand for gasoline is stronger at 0.7 (Ibid). This implies that in the long-run, given higher gas prices, consumers will adjust their consumption habits. One example is that consumers will purchase more fuel efficient vehicles, thereby lowering their consumption level. Some consumers may switch to public transit. Young adults entering the workforce may eschew car ownership altogether in favor of other modes of transport. In the long run, businesses will also seek out alternatives for plastics, because those will rise in price as well.
The price elasticity of demand for oil may also exist on a curve. This means that the higher the price rises, the greater the price elasticity of demand will be. It may also change over time, as more consumers and businesses come to the realization that oil prices will not drop at any point in the future. At this point, there…
Anderson, P., McLellan, R., Overton, J. & Wolfram, G. (1997). Price elasticity of demand. Mackinac Center. Retrieved November 30, 2011 from www.mackinac.org/1247
Campbell, C. (2011). Understanding peak oil. Peak Oil.net. Retrieved November 30, 2011 from http://www.peakoil.net/about-peak-oil
M E M O R A N D U MTo: Marc Garneau, Minister of Foreign AffairsFrom: Wayne Easter, Chair, House of Commons Finance CommitteeSubject: Recommendations and Rationale in Support of a Structured and Systematic Reopening of the Canadian-U.S. Border by September 2021Summary: The Canada-U.S. border was closed in March 2020 in an effort to stem the spread of the Covid-19 virus (Moetaz, 2021); however, the continued closure of the Canadian-U.S. border to nonessential travel due to Covid-19 pandemic concerns has severely diminished tourism revenues (Fox, 2021). Despite the significant economic impact this closure has already exacted, however, it is vitally important that the Canadian-U.S. border remained closed to travel and tourism until virus positivity rates and other conditions have improved and are adjudged safe by the scientific community.Recommendations:1. The Prime Minister should resist calls to reopen the Canadian-U.S. border immediately and consider extending the closure until September 2021.2. The Canadian-U.S.…
Canada Covid-19 overview. (2021). Johns Hopkins Coronavirus Resource Center. Retrieved from https://coronavirus.jhu.edu/region/canada .
Fox, A. (2021, May 21). Canada and U.S. land border closure extended for non-essential travel another month. Travel and Leisure. Retrieved from https://www.travelandleisure.com/ travel-news/canada-us-border-closure-extended.
MacDougall, A. (2021, May 6). Push to reopen U.S.-Canada border receives bipartisan support in Senate. Bangor Daily News. Retrieved from https://bangordailynews.com/2021/ 05/06/news/aroostook/bipartisan-support-in-the-u-s-senate-for-reopening-border-with-canada/.
Moetaz, M. (2021, May 31). Canadians not in a rush to reopen border. CIC News. Retrieved from https://www.cicnews.com/2021/05/canadians-not-in-a-rush-to-reopen-border-0518229.html#gs.287dxr .
Economics impacts on many areas of life subsequently it will impact on many areas of professional life. eflecting on the lessons learned, including the knowledge and skills gained, the real value is in the way that economics concepts can be applied to the real world; not only to explain event that are seen in the macro-environment, but to guide the way personal decisions will be made with that knowledge.
The first indicator of the lessons and concepts taught in the class being absorbed and developing into transferable knowledge has emerged with an increased understanding of the way that the economy operates and the influences which are present in the economy that are driving up prices.
There are many examples of the economic concepts; one example is the way that supply and demand has impacted on oil prices which has had a knock on effect in the economy as…
Baye Michael, (2007), Managerial Economics and Business Strategy, McGraw-Hill/Irwin
Greimel, Hans, (2012. April 30), Toyota wants high-volume U.S. Prius output by '15; Hunt is on for N.A. hybrid parts suppliers, Automotive News, p4
Nellis JG, Parker D, (2006), Principles of the Business Economics, London, Prentice Hall.
Scholes, Louise; Siegel Donald S; Wilson, Nick; Wright, Mike, (2012, Feb), Private equity portfolio company performance during the global recession, Journal of Corporate Finance, 18(1), 193.
It is therefore generally feared by the Maltese that the widespread privatization of public companies is only an excuse to raise the necessary money to make up for the domestic spending like unemployment benefits, pensions etc. Consequently, these measures decrease the scale of investments and thus reduce chances for the dynamic development of the Maltese economy.
Background and Motivation:
This topic was chosen in order to research the socio - economic effect of privatising previously government owned companies on the Maltese economy. Since this research incorporates both the social and the economic aspect of privatisation this would therefore include the carrying out of surveys, interviews and questionnaires. However for this part of the research I am limiting myself to statistics and other data obtained from various sources, compare these local data, analyse and disseminate it according to the needs in order to compare like with like to other countries that…
Going back to the 1950's the Maltese economy was basically to service the British forces that had been stationed on the island. Over the years, the forces have gradually declined, and so also the importance of Malta in the global power outlook. The country became independent in 1964, and from that time, the concentration of the government has been to make the islands into a viable economic unit based on tourism and manufacturing. In the running of the country, there have been two parties- Labour and Nationalists. Their views of the role of the state in the development of the economic activities have been different. The fait of labour was in the direct involvement of the state, whereas the Nationalists were favouring the private sector. Yet, development in terms of GNP has taken place, and risen to Lm364 million in 1991 from Lm108 million in 1971. The major part of the growth has taken place from the contributions from the government. The political aspect of this is clearly understood when the chief economic advisor of Malta in the seventies was Lord Balogh, and he believed totally in Keynes. The influence was so high that commodities were being imported by the government and sold at discounted prices. This naturally led to a large growth in the public sector and controls, and that in turn led to a loss of private initiative. This could be seen in the employment positions, and the growth was only in the public sector, whereas, the jobs physically decreased in the private sector. There was also lot of growth in organizations like Tele Malta Corporation, Ene-Malta Corporation, and Air Malta Sea Malta etc.
The policies that were used in Malta were unsuited to the country and the concept of economy, efficiency and effectiveness did not exist in most of the government owned enterprises, which were over manned, and the corporations were protected through restrictions of imports. In certain sectors, the public sector organizations helped as in the cases of banking, telecommunications, ship repair, and energy procurement. They were also of help to the economy due to the small size of the economy and the importance of the functions to the country, but at the same time they imposed a heavy burden on the resources that were available to the government and causing a lot of deficit to occur in the budgets of the public sector. It was also seen that the functioning of the government owned firms has been poor whenever they faced competition. Over a period of time, the government realized this, and this started off the company called Malta Investment Management Company Limited.
They were given the responsibility of managing, monitoring and rationalizing the investments, which had already been made. This led to the efforts for privatisation and commercialisation program in Malta, as mentioned in the President's address to the Parliament on 4th April 1992. The concentration of this program has been through two methods and these are to increase the private shareholding in
Financial and Economic Impact of Worker's Compensation egulations And Compliance
The program and concept of Workers' Compensation might appear to be a product of a civilized society and the modern era, but nothing could be further from the truth. In fact, Workers' Compensation has essentially been around for as long as people have been completing task for payment of some form of another, because people have always been getting hurt in some way, on the job. "The history of compensation for bodily injury begins shortly after the advent of written history itself1. The Nippur Tablet No. 3191 from ancient Sumeria in the Fertile Crescent outlines the law of Ur-Nammu, king of the city-state of Ur. It dates to approximately 2050 B.C.2. The law of Ur provided monetary compensation for specific injury to workers' body parts, including fractures. The code of Hammurabi from 1750 B.C. provided a similar set of rewards…
Benyamin, R., Buenaventura,, . R., Datta, S., & Adlaka, R. (2008). Opioid Complications and Side Effects. Pain Physician, S106-S111.
Boggs, C. (2008, July 29). Workers' Compensation History: The Great Tradeoff! Retrieved from mynewmarkets.com: http://www.mynewmarkets.com/articles/91833/workers-compensation-history-the-great-tradeoff
Ceniceros, R. (2012, December 12). State reduces workers comp opioid prescriptions. Retrieved from Businessinsurance.com: http://www.businessinsurance.com/article/99999999/NEWS080102/399999826
Eley, L. (n.d.). FEDERAL AGENCY HELPS COAL MINERS DETECT BLACK LUNG DISEASE. Retrieved from Denversworkerscompensationattorney.com: http://www.denverworkerscompensationattorney.com/2011/03/federal-agency-helps-coal-miners-detect-black-lung-disease.shtml
The economic impact of cellphone technologies: Ever since mobile devices like cell phones have come on the market, they have made a "direct contribution" to economic growth (Lum, 2011). For one thing, they lower the costs of communication and this is particularly important in developing countries. By making communication between buyers, sellers, and producers of goods more efficient, the economic benefits of cellphones are significant. Cellphone technologies can actually "stimulate the economy" because they create demand for more "mobile-based services," which in turn means people are being hired for new jobs (Lum, p. 1). Mobile devices like cellphones also bring down transaction costs and "broaden markets" -- another way in which they help economies.
hen it comes to smartphones and the data they require, which allows the cellphone user to access the Internet, there is a "…strong relationship between usage of mobile data per each 3G connection and…
GSMA. (2011). What is the impact of mobile telephony on economic growth. A Report for the GSM Association. Retrieved December 18, 2013, from http://gsma.com .
Horst, H., and Miller, D. (2006). The Cell Phone: An Anthropology of Communication. London,
UK: Berg Publications.
Kerner, I. (2013). Your smartphone may be powering down your relationship. CNN. Retrieved
There is a modern emphasis, which has resulted from the experience of the economic impact of disaster, on a more extensive and 'distributed' mode of thinking about disaster recovery. This is an important factor that should be stressed as it has direct implications in terms of the economic aspects of disaster recovery planning in an increasingly networked and technologized contemporary working environment. This aspect is cogently expressed in a White Paper on this issue.
Many organizations have strong business recovery plans for their mainframe and mini-computer systems. but, as more and more critical applications are migrated to distributed systems, companies are becoming concerned about how they can protect these systems in the event of a disaster. Chances of a disaster increase significantly as systems are moved away from traditional central computer facilities that have hardened security and environmental controls.
(Disaster ecovery - a White Paper)
This emphasizes a cardinal issue…
Bielski, L. (2002). Thinking the Unthinkable: Often Dismissed as Mere "Insurance," Disaster Recovery Ought to Be Considered Part of the Lifeblood of Any Business. ABA Banking Journal, 94(1), 44+.
This article focuses on the subject of disaster management in the banking industry. It provides insight into actual situations where disaster recovery plans were effective in preventing large-scale economic loss. It also provides examples of what can occur when there is a poor or recovery plan. This is also a good background study that provides insight into the economic effects and implications of disaster in the it context.
Carlson, S.J., & Parker, D. (1998). Disaster Recovery Planning and Accounting Information Systems. Review of Business, 19(2), 10+.
This was a very useful article in that it provided an extensive and well written overview of issues surrounding disaster recovery and management. The article was particularly focused on the effects and implications in economic terms of the failure of disaster management planning. These aspects were compared to the effect of good and well thought out disaster planning.
Arts at Tijuana-San Diego-Tijuana Border and Its Economic Impacts
The objective of this document is to develop the annotated bibliography of the peer-reviewed articles related to the arts at San Diego -- Tijuana border and its impact on economic activities. The study carries out the analysis of the articles to reveal the method each article fits together. The study also provides the evidence of how the articles fit into the project proposal.
Bibliography of Scholarly Articles
Chavez, Carolina Pineda, and Roberto Ham Chande. "The Economically Active Population in Tijuana and that of Mexican Origin in San Diego from 1970 to 2010. " Frontera Norte 19.37 (2016): 59-84. eb.
This article shows that there is a strong socioeconomic dynamic and cross-border demographic between San Diego and Tijuana revealing that job opportunities at San Diego have assisted in the growth of the population of the Mexican origin. The source reveals that San…
Chavez, Carolina Pineda, and Roberto Ham Chande. "The Economically Active Population in Tijuana and that of Mexican Origin in San Diego from 1970 to 2010. " Frontera Norte 19.37 (2016): 59-84. Web.
Hershberger, Andrew E. "Bordering on Cultural Vision(s): Jay Dusard's Collaboration with the Border Art Workshop/Taller de Arte Fronterizo." Art Journal 65.1 (2006): 82. Web
Rodney, Lee. "Tijuana Dreaming: Life and Art at the Global Border." Canadian Journal of Latin American & Caribbean Studies (Canadian Association of Latin American & Caribbean Studies (CALACS)) 37.73 (2012): 269-271. History Reference Center. Web.
Some of the slaves remained where they were and went to work for the masters that they had previously slaved under. They were paid wages instead of working for free, but they remained because they had gotten along well with their masters and knew that if they remained there they would be able to work and eventually buy land so that they and their family could have their own place to live. Sometimes the masters would even give the freed individuals that they actually liked a small piece of their land so that they could build something. This was one of the other ways that they were able to acquire land from Caucasians
Land grants from the government also gave them a chance to build churches and other buildings as they were still not allowed to share any of these with Caucasians. Many people believe that the Emancipation Proclamation work…
Fellman, Michael et al. This Terrible War: The Civil War and its Aftermath (2nd ed. 2007)
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…
In order to understand this idea about inventories, it is necessary to understand that if the prices were to change and not be rigid, then it would be the prices and not the inventories that would guide companies in their decisions about production. For example, if prices were increasing, a company would know that their product is popular and that they should increase the production of it. And if the prices were decreasing, the company would know that their product is not selling well and that they should probably reduce its production. In an economy though where the prices are fixed, companies need another way of deciding whether they should increase or decrease production. This is where Keynes came to the conclusion that the key is to observe the changes in the inventories in order to drive production (hat Causes a Recession to be a Recession, n.d.).
Harrison, Edward. "Chart of the Day: Unemployment as a Recession Indicator." 2008. Credit
Writedowns. 7 April 2009
Reddy, Sudeep. "Jobless Rate Hits 8.5%." The Wall street Journal. April 2009
In the period between 2002 and 2012, Australia experienced a mining boom; a period in which the level of exports increased more than threefold and also the investment made in mining as a percentage of the nation’s GDP increasing from 2 percent to 8 percent. Imperatively, during the mining boom period, there was a significant increase in demand for minerals. This is because of the demand for minerals not only locally but also internationally. Therefore, this caused a rightward shift in the demand curve. This leads to the positioning of a new equilibrium price. The comparative theory best explains the exportation of minerals by Australia and the importation of other commodities from other nations. In this regard, Australia is considered to have a comparative advantage in the production of minerals because it can produce minerals at a relatively lower opportunity cost compared to China. Another aspect that was influenced…
e. D (0), the cost of fighting crime / proportion of corrections i.e. C (P0) and the crimes / social costs / negative impacts on to offender i.e. FO. These different elements are important, because the combination of them is helping us to understand the total impact of crime and punishment on the economy.
As a result, these different factors are used in a basic formula to comprehend the effects of social phenomenon and crime on the economy. elow is the equation that is used to objectively evaluate what is occurring.
L (social / economic impact) = D (0) + C (P0) + FO
This formula is important, because it is providing us with a basic strategy that can be used to objectively evaluate the how crime and punishment are impacting society. Once this occurs, is when we can see the total economic impact of this on communities and the…
Becker, Gary. "Crime and Punishment." The Journal of Political Economy 76.2 (1968), 169 -- 217. Print.
The industrial age was an age of giant, mega corporations that were often bogged down by inefficient and outdated distribution, innovation, and production techniques. y contrast, the information age of the past 20 years or so has brought forth a new business form, a fluid congregation of businesses, sometimes highly structured, sometimes amorphous, that come together on the internet to create value for customers and wealth for their shareholders. This phenomenon has been commonly referred to as "digital capital," "information technology revolution," or "new economy." However, as both the Dow Jones Industrial Average and the Nasdaq soared to historic highs and record volatility in just a few short years, a widespread and quite fundamental disagreement emerged concerning whether or not the high-tech boom was nothing more than one huge bubble.
This paper analyzes and examines the present condition of the United States economy. Part II discusses what phase of…
Bedroussian, Armen, Devol, Ross C., Fogelbach, Frank, Goetz, Nathaniel H., Gonzalez, Ramon, R., and Wong, Perry. "The Impact of September 11 on Metropolitan Economies." January 2002. Retrieved at http://www.milken-inst.org/presrel/NationalMetroImpact Report.pdf on July 21, 2002.
Jordan, Meredith. "Economists: Turnaround in Early 2002." Retrieved at http://atlanta.bizjournals.com/atlanta/stories/2001/07/09/story5.html . onJuly 21, 2002.
Moore, Geoffrey H. Business Cycles, Inflation and Forecasting, 2nd edition, 1983. Ballinger Publishing Co., Cambridge, MA.
EconEd Link." Retrieved at http://www.econedlink.org/datalinks/index.cfmonJuly 21, 2002.
Economics of Alchohol Abuse
Alcohol for consumption is not a necessary food item, but for some has become a standard part of adult culture. Increasing the level of alcohol consumption, however, moves from an economic paradigm to a social issue due to the ancillary health and behavioral effects from alcohol abuse. In turn, this becomes part of economics in that it requires fiscal resources to treat societal issues caused by alcoholism: domestic abuse, crime, traffic or driving issues, etc. The economic effects of alcohol are undebatable, and are pervasive in the overt and covert areas of the economy (short- and long-term) (Fogarty, 2006).
In the economic sphere of political and social policy, alcohol, like tobacco and gambling, are considered a "sin" tax that is ostensibly designed to reduce transactions for issues society considers dangerous or undesirable. However, when it comes to alcohol, many see that this type of a sumptuary…
Ensuring Solutions to Alcohol Problems. (2011). Ensuring Solutions. Retrieved from: http://www.ensuringsolutions.org/
Profit-Maximization in the Long Run. (2010). Welker'sWikinomics. Retrieved from: http://welkerswikinomics.wetpaint.com/page/Profit-Maximization+in+the+Long-run
Tobacco, Alcohol Industries Reject New Sin Tax Bill. (February 22, 2012). ABS/CBN News. Com. Retrieved from: http://www.abs-cbnnews.com/business/02/22/12/tobacco-alcohol-industries-reject-new-sin-tax-bill
Avorn, J. (2004). Powerful Medicines: The Benefits, Risks, and Costs of Prescription Drugs. New York: Random House.
It is also argued that the insurance mandate is not constitutional since the government does not have the right to tell the United States citizens what products to purchase, even when these products are beneficial for them, and even less when the socio-economic impact of purchasing the respective items is questionable (Savage, 2009).
Arguments against changing the direction of the policy
Once again delaying any measures to restructure and resolve the two impending problems in the health care system (raising costs and insufficient coverage) does not constitute a constructive approach to resolving the impending problems
Aside the socio-economic problems it raises, the mandatory health insurance would ensure that all the U.S. citizens benefit at least from the basic health care services and this does not put tremendous strains on the federal budgets.
5. ationale of the suggestion to change the direction
Despite the benefits the mandatory health insurance would generate…
Barnett, R., 2009, Is health insurance mandate constitutional? last accessed on June 18, 2010
Berger, J., 2009, a health insurance mandate that works like auto insurance? Think again, http://www.foxnews.com/politics/2009/09/14/health-insurance-mandate-works-like-auto-insurance-think / last accessed on June 18, 2010
Bihari, M., 2010, Mandated benefits -- understanding mandated health insurance benefits, http://healthinsurance.about.com/od/reform/a/mandated_benefits_overview.htm last accessed on June 18, 2010
Cowen, T., 2009, How an insurance mandate could leave many worse off, http://www.nytimes.com/2009/10/25/health/policy/25view.html last accessed on June 18, 2010
Oceans on Human Life:
ecent economic, political, and environmental developments
One of the oldest forms of transport is sailing: long before airplanes or cars were invented, people turned to the sea as method of moving goods and people from one place to another. But oceans still play a critical role in the modern economy. In fact, an estimated one of every 6 jobs in the U.S. is in some way tied to the oceans and "over 1/3rd of the annual U.S. Gross National Product originates in coastal areas -- approximately $700 billion… U.S. maritime transport carries 95% of the nation's foreign trade" ("Oceans impact the economy" 2015). The importance of ocean-related shipping has increased rather than decreased in recent years, due to the rise in global trade. Although cheaper and more convenient airplane-related travel has retracted the importance of human-driven transport by sea, ocean-related trade has increased.
The creation of…
Bucker, C. (et al. 2014). Chapter 1: The earth's climate system. World Ocean Review.
Bucker, C. (et al. 2014). Chapter 8: Global shipping: A dynamic market. World Ocean Review.
Economic Effects of Tourism
There are a number of economic effects of tourism. Most obvious is the significant direct economic effect. Tourists spend money on hotels, restaurants, tourist attractions, shopping, and bars. This is money that typically comes from outside the economy, and thus provides a direct and immediate boost to the area's GDP. There are many benefits of this. First, it provides revenue for local businesses. This revenue translates into jobs for all businesses. For locally-owned businesses, it also provides profits for the owners, which can be re-invested. For example, a successful restaurant can take its profits and open a second location, thereby doubling its positive impact on the community and the wealth of the owners.
Jobs created of course contribute in many ways to the economy. Workers buy homes, cars, they spend their money in the community in other ways. They raise families, and their children often stay…
Walker, J. & Walker, J. (2012). Introduction to Hospitality Management., 4th Edition. Prentice Hall.
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…
Bagehot, Walter. 1927. Lombard Street: A Description of the Money Market, John Murray, London.
Balbach, Anatol B. 1981. "How Controllable is Money Growth?" Federal Reserve Bank of St. Louis Review, vol 63, no 4, April, p. 5.
Becker, Gary S, Steven N. Kaplan, Kevin M. Murphy and Edward A Snyder. (2002 / winter). "The Economic Effects of September 11," GSB Magazine, University of Chicago's Graduate School of Business.
Bell, Stephanie. 2000. "Do Taxes and Bonds Finance Government Spending?." Journal of Economic Issues, Vol. 34, no. 3, pp. 603-620.
economic basis of American cities change from colonial era to 1860 and why did it change.
here is little doubt that there were a significant amount of economic changes taking place within the fledgling United States of America from its inception during colonial time to the year preceding the Civil War, 1860. hose changes were widely facilitated by advancements made during the Industrial Revolution and those pertaining to the practice of chattel slavery in the southern portion of the country. As such, the economics for American cities reflected these two principle sources of change, which were also underscored by a chief point of division in American social, political and economic life up until the Civil War: the distinction between autonomy and states' rights and circumscribed freedom and a strong federal government. he reality is that the latter of these two choices were good for capitalism and for the U.S. As…
The true way that the economies of American cities changed was along the lines of labor sources. Because the cities in the south were populated by plantations and wanton, ruthlessly exploitative slave labor, the economic power was concentrated in the hands of a tiny few who were able to assert political power (especially at the federal level) to enact legislation that maintained slavery -- in new territories -- to keep them in economic control. In the North, however, the Industrial Revolution had spawned a manufacturing industry in which immigrant workers were able to make a living for themselves largely because they were able to stave off the process of cheap slave labor from populating these areas. What is interesting about these developments is that they conflicted with one another. The South's free labor from the backs of slaves was creating an unfair economic advantage with which the North could not compete. The plight of the Caucasian workers in the South -- in which they were marginalized and destitute because the wealthy plantation owners could forsake them in favor of cheaper slave labor -- was threatening to extend itself to the capitalist system in the country's north. Therefore, it is critical to note that the cutoff period for this assignment ends the year before the Civil War, since this martial encounter was largely fought to transform the collective economy of the nation's cities from one of agriculture to one of industry and to preserve the union in the process.
It is necessary to note the role that transportation played in the economic development of cities in the U.S. within the greater context of the changing labor supplies and their effects on both national and global capitalism. The Industrial Revolution helped to facilitate greater access to and means of transportation, particularly in the form of steam powered ships (which plied up and down the Mississippi River and in other parts of the country) and in terms of the railroad, which progressed increasingly westward. As a result, there were several terminus towns that sprouted up and came to become some of the country's most thriving cities such as Chicago, Cincinnati, and Buffalo. As a result of the railroad's foray into the western portion of the country, rudiments of the American system took place in which the West was used to supply raw materials for the North to refine and make into the finished products.
Essentially, the economies of American cities changed from the colonial period to 1860 due to developments in the Industrial Revolution and slavery which changed the labor supplies in the North and South of the countries. These changes resulted in a capitalist system which advantaged the South (with its free labor) to the disadvantage of the North -- which eventually resulted in the waging of the Civil War.
The state of Virginia may be considered a pioneer in wine making in that the very first wine cultivation experiments for the purpose of wine making were held here in the early 1600 (iancalana 2002). y the end of the 1800s, Virginia was already an important wine-producing state, although interrupted by prohibitionism. The industry was revived by local produces and investors who started investing on quality production again in the early 70s. Its present focus is mainly on Chardonnay, although the state also produces local varieties and hybrids as do other states in the east coast. Among its most important white hybrids are Seyval lanc, Vidal lanc and red hybrids Norton and Chambourcin. It also cultivates European species like Chardonnay, Riesling and Viognier for white species and Cabernet Franc, Cabernet Sauvignon, Merlot and arbera for red species. The most important wine areas in Virginia are Eastern Shore, Shenandoah Valley, Northern…
Biancalana, a (2002). United States of America. ABC Wine: DiWine Taste. 11 pages. Retrieved February 1, 2007 at http://www.diwinetaste.com/dwt/en200622.pdf
2. Geisler, M. (2006). Wine industry profile. Agriculture. 5 pages. Marketing Resource Center
Insel B, et al. (2007). U.S. wine, grapes, and grape products contribute $162 billion to economy. Wine Institute. 4 pages. Retrieved February 1, 2007 at http://www.wineinstitute.org/industry/statistics/2006/us_wine_economic_impact.php
Summer, D.A. et al. (2001). An economic survey of the wine and the winegrape industry in the U.S.A. And Canada. University of California. 35 pages.
Sustainable Tourism Impacts
The impact of sustainable tourism on Kaho'olawe can be divided into three constituent parts: the economic impact, the physical or environmental impact, and the socio-cultural impact.
Economic impact: The economic impact of sustainable tourism on Kaho'olawe is predicted to be a net positive gain after initial investment. Hiring only local labor, when possible, will conform to sustainable tourism goals. This will also prevent financial leakage: that is, losing any revenues gained to outsiders and instead keeping revenues within the island. This will have a net-positive impact on the local economy and permit further investment.
Physical/environmental impact: This is the area of greatest concern regarding the development of Kaho'olawe. Tourism infrastructure is likely to lead to issues and potential problems such as pollution, land degradation (erosion, sinkhole), and habitat loss for local flora and fauna. Additionally, the development of tourism could have unforeseen aesthetic drawbacks such as…
Art of San Diego/Tijuana order
The election of Donald Trump as President of the United States has ignited a fire in the hearts and minds of many people. However, that fire was already burning in many ways prior to his election and for a litany of reasons. Indeed, the conditions and dynamics when it comes to the Mexico border as it is exists in the broader San Diego and Tijuana areas have been ramped up for quite some time. One manifestation of this dynamic is the art that emerges and is displayed and sold on both sides of the border in the greater San Diego area. The economic impacts and outcomes are important to explore given the proposed tariffs and boycotts that are rattling around or are proposed. What shall follow in this report is an annotated bibliography review of ten sources. For each source, there will be three points…
Bridges." Journal For Learning Through The Arts 6.1 (2010): ERIC. Web. 31 Jan. 2017.
• The argument of this source is that there are multicultural art programs in the elementary schools of San Diego and this is done as a means to "build bridges" between different cultures and perspectives in the San Diego area. The economic impact of this may not be distinct or obvious but this manner of delveopment is necessarily and absolutely going to affect what the students spend their money on and the level of multiculturalism that they embrace and partake in • When it comes to assessing the argument of this article, the argument is most certainly a strong one. There are many nationalistic and, at times, xenophobic arguments and screeds that arise when it comes to USA/Mexico relations. On the other hand, there are school-run programs like this that buck that trend and pattern and instead focus on how people and cultures and work and mesh together in positive ways
• This source fits into the project in that it explores ways that the economic impact and outcomes are impacted for the better when it comes to the school systems, how children are raised and the government's involvement in all of the above
Natural and human-induced disaster cause major damages; they are usually concentrated in facilities or areas where they are of great significance to the impacted society. Sudden onset disaster like hurricanes, floods and earthquakes cause more impact socially and economically than slow-onset disasters like drought. Different types of hazards have different consequences and impacts, but to some extent some attributes are common across all types of disasters.
Impacts of disasters
The society has institutions that shape different access to different resources; these institutions determine the social impacts of disaster. Different communities are structured by a myriad of social relationships, competition and obligation that shape social characteristics associated mostly with vulnerability and loss; in disaster prone areas. Some impacts are loss of heritage because of cultural architecture due to floods or earthquake like in Prague university floods caused destruction of books; they erode social networks and community integrity. Disasters…
Joseph, P.J. (2010). International Perspectives of National Disasters. Atlanta: Springer.
Programme, U.N. (2007). Enhancing Urban Safety Settlements: Global Report on Human Settlements. New York: Earth Scan.
Alcohol on American Society Today
Physicians maintain that small amounts each day are good for human health, but millions of Americans misuse ethyl alcohol in ways that are deleterious to their health. To determine the facts, this paper provides a review of the relevant peer-reviewed and scholarly literature concerning the consequence and benefits to American society of the use, abuse, misuse, and overuse of alcohol. A brief history of alcohol is followed by its licit and illicit pathways, impact on individuals, families, and American society. Finally, a summary of the research and important findings concerning the consequences and benefits of alcohol to American society are presented in the conclusion.
eview and Discussion
ecent research indicates that today, the United States has one of the lowest rates of alcohol consumption in the developed world (U.S. drinks the lowest amount of alcohol in the developed world, 2011). The typical American consumes about…
egion that I have chosen is the South Pacific, or more broadly Oceania. If we exclude Australia and New Zealand, the two highly developed economies, this region is characterized by island nations, mostly small, with tiny economies. Many such islands are independent nations, while others are colonies (i.e. French Polynesia, Cook Islands, Guam). Most nations within this region have ties to larger economies, either the U.S., New Zealand or Australia, regardless of their political status.
For the most part, these regions are politically stable. The Pacific islands are, in many cases, subject to many political issues. At the global level, these nations are among the most vulnerable to climate change. ising sea levels are an existential threat to countries like Tuvalu, which is almost entirely at sea level (Allen, 2004). Thus, many of these island nations have become the leading spokespeople for action on climate change, increasing their profile in…
Allen, L. (2004). Will Tuvalu disappear beneath the sea? Smithsonian. Retrieved November 30, 2014 from http://www.smithsonianmag.com/travel/will-tuvalu-disappear-beneath-the-sea-180940704/?no-ist
Hoegh, O. (2007). Coral reefs under rapid climate change and ocean acidification. Science. Vol. 318 (2007) 1737-1742.
ADS in South Africa
Those of us living in the United States became used to the face of ADS a generation ago. We learned to recognize the particular gauntness that characterized those who had been struck by it, and who would soon be taken away by it. And then, after years of people dying from this disease, we learned that people who had this terrible disease could be healed; not cured, for they still contained the viruses within their bodies, but they could live lives that were happy and meaningful - and long. The terror of ADS subsided, becoming one of only many of the perils of modern life rather than one of the predominant ones.
But the trajectory of ADS in South Africa (as well as in other parts of the developing world, has been very different. Even in the first years of the disease the manifestations of it…
In already unstable societies, this cocktail of disasters is a sure recipe for more conflict. And conflict, in turn, provides fertile ground for further infections (http://www.nkosi.iafrica.com/aids_sa/).
AIDS is both the enemy in South Africa and a potential aid to other enemies. One of the reasons that AIDS has been successfully fought in the United States and Europe is the wealth of these nations; this has certainly been their primary advantage. But they have also benefited in the fight against AIDS from a high degree of social stability; public health measures can only be effective when used in a stable society.
One of the terrible ironies of AIDS in South Africa is that the nation does not have strong enough social structures to allow (at least so far) for the necessary public health measures to be taken. And as AIDS takes a greater and greater toll, the necessary social structures will only become weaker and weaker.
A Purchasing Manager must ensure that all the necessary supplies, tools, and stock inventory are available for operations to proceed smoothly and at an undisturbed pace. Counting inventory, ordering goods/items, and keeping stock of prices in a fluctuating market so as to not go over budget at any given time are all important aspects of the job.
In today's market conditions, one of the main challenges that a Purchasing Manager can face, however, has to do with global economic conditions, which are hovering on the brink of recession or even outright depression if the warnings of some economic analysts are to be taken seriously. As Zorzi, Chudik and Dieppe (2012) assert, fundamental imbalances in the accounting practices of banks, corporations, multinationals and governments around the world have tilted the playing field in such a way that it is now a veritable slope, with all players losing their footing…
Ragnarsdottir, B., Berburg, J., Olafsdottir, S. (2013). The Global Financial Crisis and Individual Distress: The Role of Subjective Comparisons after the Collapse of the Icelandic Economy. Sociology, 47(4): 755-775.
Yu, H. (2014). China's Ghost Cities. East Asian Policy, 6(2): 33.
Zorzi, M., Chudik, A., Dieppe, A. (2012). Thousands of models, one story: Current account imbalances in the global economy. Journal of International Money and Finance, 31(6): 1319-1338.
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…
Hauser, C. (2011, Aug 24). Sales of new homes fell again in july. New York Times, pp. B.6-B.6. http://search.proquest.com/docview/884825381?accountid=35812
This program is focused onto the following directions:
Generating stability with exchange rates
ebuilding confidence in the monetary policy
Better managing and restricting public debt
eforming and restructuring the banking sector to insure more transparency and the implementation of internationally recognized policies (The Icelandic Government Information Center, 2008).
4. Short-term forecast for the economy
The 2008 has severely impacted the Icelandic economy. In light of the dramatic effects as well as the efforts put into the reconstruction and reconsolidation of the Islanding economy, major growths are not expected. In other words, it is generally assumed that the country will regain its stability through small and gradual victories, which will, for the time being, only manage to stabilize the economy. Growth rates are expected to remain low and for 2010 for instance, the growth rate of the gross domestic product is expected to be close to zero (Central Intelligence Agency, 2010).…
2008, Economic programme in cooperation with IMF, The Icelandic Government Information Center, http://www.iceland.org/info/iceland-imf-program / last accessed on August 2, 2010
2008, Economic outlook 2008-2012, Landsbanki, http://www.landsbanki.is/Uploads/Maillist/Docs/economicoutlook2008-2012.pdf last accessed on August 2, 2010
2008, Glitnir releases economic forecast for Iceland, IceNews, http://www.icenews.is/index.php/2008/06/02/glitnir-releases-economic-forecast-for-iceland / last accessed on August 2, 2010
2010, Iceland economic statistics and indicators, Economy Watch, http://www.economywatch.com/economic-statistics/country/Iceland / last accessed on August 2, 2010
Economic Depression of Europe
An economic depression is more severe than a recession due to the fact that a depression involves drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and high levels of unemployment.
There were economic depressions in Europe that were experienced before and after the 1870 but with a remarkable difference, being that those that were experienced before the 1870s were less costly in terms of life and resources and took relatively lesser period. Indeed it was a commonplace that every part of Europe experienced one sort of economic depression or the other.
One such economic situation before 1870 was the "little ice age" which began in the late 16th century till around 1950s as indicated by Big Site of History (2011). This was a time when a severe cold that could not be withstood by most crops set in most…
Big Site of History (2011). Social Trends in 17th Century Europe: The Problem of Divine-Right
Monarchy. Retrieved July 18, 2011 from http://bigsiteofhistory.com/social-trends-in-17th-century-europe-the-problem-of-divine-right-monarchy
Historic UK, (2011). The Great Plague 1665. Retrieved July 18, 2011 from http://www.historic-
hile the U.S. is only showing the first signs of recovery from the global economic crisis, other nations such as Australia and China have recovered much more quickly. There are a number of factors that have contributed to the disparity in economic performance in the past three years in these different nations. In particular, three factors will be considered. The first is the situation in each country at the outset of the crisis. As the crisis was largely precipitated by a credit crunch, the differences between the structure and regulation of the banking sectors in each country will be given particular attention. The second factor will be the response on the part of each federal government to the crisis. The third factor will be the nature of the different economies -- the degree to which different structures have impacted the recovery process. Lastly, policy implications will be drawn for…
BEA. (2011). National income and product accounts table. Bureau of Economic Analysis. Retrieved March 4, 2011 from http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=1&ViewSeries=NO&Java=no&Request3Place=N&3Place=N&FromView=YES&Freq=Year&FirstYear=2007&LastYear=2010&3Place=N&Update=Update&JavaBox=no#Mid
Chinability.com. (2010). GDP growth in China 1952-2009. Chinability.com. Retrieved March 4, 2011 from http://www.chinability.com/GDP.htm
Jones, F. (2011). Krugman: Stimulus didn't fail because it never happened. Moneynews.com. Retrieved March 4, 2011 from http://www.moneynews.com/StreetTalk/paul-Krugman-Stimulus-Didnt/2011/02/16/id/386333
Maiden, M. (2009). Australia's banking sector is as strong as a brick outhouse. The Age. Retrieved March 4, 2011 from http://www.theage.com.au/business/australias-banking-sector-is-as-strong-as-a-brick-outhouse-20090506-avdj.html
Observing the Influences that Impact Market Equilibrium
Purchasing fresh produce in a farmers market offers an opportunity to buy direct from a supplier. The process of buying fruit and salad items direct from the suppliers, rather than though an intermediary such as a supermarket, increases the exposure of the purchaser to price fluctuations. Visiting the market, which is held every weekend, over a number of weeks it was possible to see how different influences would impact on the supply and demand for the products, and how this impacted on the prices. The prices of the little gem lettuces appears to be one of the more sensitive products; this may have been due to their short shelf life. These lettuces, unlike other produce, are not suitable to be held for any period in cold storage, so there is not the ability to hold a supply ready for the peak demand.…
Baye Michael, (2007), Managerial Economics and Business Strategy, McGraw-Hill/Irwin
Nellis JG, Parker D, (2006), Principles of the Business Economics, London, Prentice Hall
The paper is written generically, so this may be changed for other produce items with a short shelf life.
The price may be changed as needed
hen I understand what drives people to buy bottled water, I will be in a better position to forecast demand. I expect disposable income, distribution saturation, cleanliness and taste of tap water and price of bottled water will all factor. ith this information, I could understand the price elasticity of demand, for example, or the elasticity of demand relating to any other variable. Going international I would focus on the same, but I would also understand the currency exchange dynamics and the image that my country or region has overseas. In general, however, the types of information I need would be mainly the same, with respect to marketing. ith respect to culture (marketing message) or other such variables unrelated to the economics of the decision, there are undoubtedly some different forms of information that I would need.
Second student: I would want to know what the trends are for bottled…
Investopedia. (2011). Economics basics: Elasticity. Investopedia.com. Retrieved March 11, 2011 from http://www.investopedia.com/university/economics/economics4.asp
No author. (2011). Demand forecasting. Author unknown. Retrieved March 11, 2011 from 10.212.115.113:81/.../Managerial%20Economics/Demand/Demand%20Forecasting.ppt
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…
BBC. (1997, November 21). European monetary union - pros and cons. Retrieved May 11, 2009, from BBC News: http://news.bbc.co.uk/1/hi/special_report/single_currency/25081.stm
Filho, F.F. (2003). Is it possible to achieve a monetary union in MERCOSUR? (South America). Retrieved May 11, 2009, from Vanderbilt University: http://sitemason.vanderbilt.edu/files/egnZLy/Ferrari%20Filho%202.pdf
Frankel, J. (1999, August). No single currency regime is right for all countries or at all times. Retrieved May 11, 2009, from Princeton University: http://www.princeton.edu/~ies/IES_Essays/E215.pdf
Gimp, F. (2008, June 27). A world currency - pros and cons and can it become a reality. Retrieved May 11, 2009, from Piponomics: http://www.babypips.com/blogs/piponomics/a_world_currency_pros_and_cons.html
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…
Ameristar Casinos Inc., Hoovers, 2009, http://hoovers.com/ameristar-casinos/--ID__16260,FRIC__ -- /free-co-competition.xhtml last accessed on May 8, 2009
Personal Income and Savings, iCharts, 2009, http://www.icharts.net/portal/app?service=external&sp=Y37ayiM=&page=Chartdetail last accessed on May 8, 2009
Investor Words, 2009, http://investorwords.com last accessed on May 8, 2009
The Financial Forecast Center, 2009, http://forecasts.org last accessed on May 8, 2009
A price discrimination strategy is one where different customers are charged different amounts. The price charged for my shop's submarine sandwiches will therefore be different for locals than for visitors. There are a number of ways to achieve this. In the context of a sandwich shop, the prices are going to be listed publicly on the menu, so it is impossible to openly discriminate with respect to prices. One technique that can be utilized to lower the average cost for each sub-for locals is to offer a loyalty card. The local would then receive either a discount or a free sub-after making enough purchases. This would deliver a lower price to locals in the long run. Alternately, a loyalty club can allow the locals to receive discounts if they are members of the club. A certain amount of annual sales would be required for club membership, or even a…
Investopedia. (2010). Perfect competition. Investopedia. Retrieved October 16, 2010 from http://www.investopedia.com/terms/p/perfectcompetition.asp
ACC. (2010). U.S. antitrust agencies issue revised merger guidelines. Association of Corporate Counsel. Retrieved October 16, 2010 from http://www.lexology.com/library/detail.aspx?g=cf23ba87-0ed6-4db5-9739-d7cf74bcdf8f
Economic Events: 1980-1989
the decade of greed. The era of onald eagan when the rich got richer and the poor got poorer. Despite this common wisdom, 1980 started off auspiciously. On May 8, 1980 the World Health Organization hailed "one of the century's greatest medical accomplishments," the final and total eradication of smallpox (Dickson 247). But how quickly times change - barely a quarter century has passed and this same disease is making headlines once again.
Attitudes change also. While many in this day and age would still agree that the 1980's was a selfish period in American history, a sea-change has occurred in the rhetoric issuing forth from Washington D.C. In a very fundamental way, party politics has been thrust aside as concerns for homeland security take precedence over petty partisanship. Michael Barone notes this in his analysis of a speech made by Democrat ichard Gephardt in the Summer…
Barone, Michael. "The loyal opposition." U.S. News and World Report. 13 June 2003. 14
March 2003 http://www.usnews.com/usnews/opinion/baroneweb/mb_020613.htm.
Case, Karl E., and Ray C. Fair. "Principles of Economics." Prentice Hall, Inc. Englewood
Cliffs, NJ 1992.
That is, international financial organizations, such as the World Bank and the International Monetary Fund and which controlled by core states, decide that, in order to grant financial aid to undeveloped countries, these states should comply with some rules that are, in the end, in the detriment of their own economy. For example, Africa pays more to the IMF and World Bank, than it collects in credit from them, and this leads to low living standards, poor education and health systems and undeveloped infrastructure.
Besides financial institutions, transnational corporations have a saying in the economic development of a country. Although one might be tempted to say that a corporation, by creating a branch in an undeveloped country gives that economy a boom, it is actually all about personal gain.
Working in a corporation might be considered the best thing that could happen to a person, on a professional scale. You…
Chomsky, Noam. "DRCNet Interview: Noam Chomsky." Drug War Chronicle Aug.2002. Drug Reform Coordination Network. Washington DC. 2.08.2002. http://stopthedrugwar.org/chronicle-old/223/noamchomsky.shtml .
Korten, David C. "When Corporations Rule the World." USA: Berrett-Koehler Publishers; 2 edition, 2001
Kozol, Jonathan. "The Shame of the Nation. The Restoration of Apartheid Schooling in America." New York: Crown Publishers, 2005
Wallerstein, Immanuel. "The Modern World-System: Capitalist Agriculture and the Origins of the European World-Economy in the Sixteenth Century." New York: Academic Press, 1976
There are a number of different metrics that can help to measure the health of an economy. The GDP is one of those numbers, and can be obtained from the Bureau of Economic Analysis. Following a decline of 2.6% in 2009, the GDP grew in 2010 by 2.9%. GDP rates fluctuated by quarter, with a low of 1.7% in Q2 following by escalating growth in the last two quarters. This represents a slow recovery from the steep declines of 2008-2009. Another measure of economic health is unemployment. The current unemployment rate from the Bureau of Labor Statistics is 9.0%, a decline of 0.4 percentage points from December. This rate is historically high, it is lower than at any point in the past year, again showing a sign of slow recovery. A third measure of economic health can be found in the inflation rate. The best measure of inflation is…
Bureau of Labor Statistics: CPI Detailed Report December 2010. Retrieved February 8, 2011 from http://www.bls.gov/cpi/cpid1012.pdf
Bureau of Labor Statistics: Employment Situation Summary. Retrieved February 8, 2011 from http://www.bls.gov/news.release/empsit.nr0.htm
Bureau of Economic Analysis: Gross Domestic Product: Fourth Quarter and Annual 2010. Retrieved February 8, 2011 from http://www.bea.gov/newsreleases/national/gdp/2011/pdf/gdp4q10_adv.pdf
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…
Google.com. (2010). Unemployment rate. U.S. Bureau of Labor Statistics. Retrieved April 23, 2010 from http://www.google.com/publicdata?ds=usunemployment&met=unemployment_rate&tdim=true&dl=en&hl=en&q=U.S.+unemployment+rate
4. The role that the FDA plays in setting food safety requirements is inherently costly to the economy. The function is not based on economic concerns but rather public health concerns -- the FDA's mandate dates to Congressional concern about the Elixir sulfanilamide disaster and traces its roots to Upton Sinclair's The Jungle, which documented meat production in Chicago at the turn of the 20th century (FDA.gov, 2009). Thus, decisions about FDA regulations are not made on the basis of economic good, but rather public good. Increased regulations would impose increased costs on business. In classical economics, these costs would act as a form of tax, increasing risk and discouraging investment. Eliminating these requirements would lower these costs, which would allow for an expansion of the food business. It could be argued that the threat of litigation today would counterbalance the need for regulations, but that claim has not been…
Roubini, N. (1997). Supply side economics: Do tax rate cuts increase growth and revenues and reduce budget deficits? Or is it voodoo economics all over again? Stern School of Business. Retrieved April 24, 2010 from http://pages.stern.nyu.edu/~nroubini/SUPPLY.htm
No author. (2010). Classical economics. TheShortRun.com. Retrieved April 24, 2010 from http://www.theshortrun.com/classroom/doctrines/classicals.html
McCallum, B. (2008). Monetarism. Concise Encyclopedia of Economics. Retrieved April 24, 2010 from http://www.econlib.org/library/Enc/Monetarism.html
FDA.gov. (2009). FDA history part I. Food and Drug Administration. Retrieved April 24, 2010 from http://www.fda.gov/AboutFDA/WhatWeDo/History/Origin/ucm054819.htm
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…
1. Eddlem, T.R. (2009). Obama needs to learn "opportunity cost." The New American. Retrieved February 26, 2010 from http://findarticles.com/p/articles/mi_m0JZS/is_15_25/ai_n32369481/?tag=content;col1 .
2. Dorrien, G. (2009). Is the Economic Crisis a Sin? Newsweek. Retrieved February 26, 2010 from http://www.newsweek.com/id/206095.
3. Steele Calls Obama Health Plan "Socialism" (2009). CBS News. Retrieved February 26, 2010 from http://www.cbsnews.com/stories/2009/07/20/politics/main5174417.shtml .
4. Remarks by the President on Financial Rescue and Reform. The White House. Retrieved February 26, 2010 from http://www.whitehouse.gov/the_press_office/Remarks-by-the-President-on-Financial-Rescue-and-Reform-at-Federal-Hall .
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…
He would be faced with deciding whether he must spend all his available resources on goods or services, or whether he must save some of his income so that he would be able to finance some of his needs of his future. When he is taken as a labor resource, he must make the decision whether he must use his time in working for his pay, or whether he must spend it on sleeping and other leisure time activities. ("Decision making using marginal analysis," n. d.)
Similarly, when he is a labor resource, he must decide how much of his time he must spend on education, so that he may be able to maximize his life earnings. On the other hand, if he were an entrepreneur, then he must make the decision on how many people he must hire, or how much he must spend on acquiring a new product…
Evans, Edward. (2005) "Marginal analysis, an economic procedure for selecting alternative technologies/practices." University of Florida, Institute of Food and Agricultural Sciences. Retrieved 15 December, 2007 at http://edis.ifas.ufl.edu/FE565
Johnson, Paul. M. (2005) "Marginal Analysis: A glossary of political economic terms" Retrieved 15 December, 2007 at http://www.auburn.edu/~johnspm/gloss/marginal_analysis
McConnell, Campbell R; Brue, Stanley L. (2005) "Economics, principles, problems and policies" McGraw-Hill Professional.
McEachern, William a. (2006) "Macroeconomics, a contemporary introduction" Thomson
Energy costs increased substantially and the yen's exchange rate was shifted to a floating rate. The eventual recession reduced expectations of future growth and reduced private investment. Economic growth went down from 10% to 3.6% during the period 1974-79 and to 4.4% in the decade of the 80s. ut despite the oil crisis and its consequences, Japan's major export industries stayed competitive through its cost-cutting policy and increasing efficiency. It reduced industrial energy demands and allowed the automobile industry, along with other industries, to improve. y the late 70s, the computer, semiconductor and other technology and information-intensive industries entered a period of rapid growth. During this high-growth era, exports continued to support Japan's robust economic growth in the 70s and in the 80s. However, the problems encountered on account of its growing balance of payments surplus urged for the opening of domestic markets and a stronger focus on domestic demands…
Answers.com. (2007). Shigeru Yoshida. 4 pages. Encyclopedia Britannica: Answers Corporation
Bernier, B. (1980). The Japanese peasantry and economic growth since the land reform of 1946-47. 40 pages. Vol 12 issue 1. Bulletin of Concerned Asian Scholars: Questia Media America, Inc.
Luu, L.T. et al. (1996). Summary report on Japan. Team # 6. Chinman: University of Hawaii..
Retrieved March 14, 2007 at http://www2/hawai.edu/~chiman/file2,htm
First and foremost, I intend to major in Economics. From quite an early age, I have grown up admiring successful business leaders. I envisaged such individuals as living relatively fulfilling lives based on the wealth they had amassed from investments. One of my main personal heroes in business and investments has always been Benjamin Graham, an astute investor and economist who passed on in 1976. Graham who in my opinion remains one of the most rational investors of all time came up with some of the most priceless yet simple investment principles. Having developed a keen interest in the investments field at an early age, I have been an avid reader of any available literature on Ben Graham. Based on these readings, I remain convinced that to make sound investment decisions; the need for a well-founded understanding of economics cannot be overstated. Further, over time, I have come…
Unfortunately most growth oriented economic policies such as "supply-side" economic policies tend to exacerbate inequality. A greater role of the government in the economy such as increased taxation on the rich can reduce inequality. Inflation and unemployment are usually inversely proportional in most economies, i.e., increase of money supply through deficit financing reduces unemployment but increases inflation while tight monetary policies reduce inflation but increase unemployment. According to a number of analysts, a major cause of terrorism in the world is an acute sense of deprivation among a large section of the population. Economic measures can, arguably prove more effective in rooting out terrorism than military action.
What, How and for Whom to Produce:
In 'free market economies' decentralized decision making by individuals and firms based on consumers' desires (which determine the price of goods) and the profit motive determine what goods are produced and in what quantities.…
Free Market Economy" (2003). Article in Microsoft Encarta Encyclopedia. CD Rom Version, 2003.
O'Connor, D.E. & Faille, C. (2000). Basic Economic Principles: A Guide for Students. Westport, CT: Greenwood Press.
The Rural Poverty Trap." (2004). Oxfam Briefing Paper # 59. [Available online] Accessed on January 26, 2005 at http://www.maketradefair.com/en/assets/bp59_The_Rural_Poverty_Trap.pdf
According to FAO statistics more than 900 million people live on less than $1 a day in the rural areas of the developing world (The Rural Poverty Trap, 2004)
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…
Department of Finance Canada. (2004). The Economy in Brief. Retrieved March 8,
2005, from the Department of Finance Web site: http://www.fin.gc.ca/ECONBR/ecbr04- 12e.html
Economic Survey Canada. (2004). Building Partnerships for Progress. Retrieved March 8, 2005, from the Economic Survey Canada Web site: http://www.oecd.org/document/24/0.02340.en_2649
Environment Canada, Informing Canadians on Pollution. (2002) Highlights of the 2002 National Pollutant Release Inventory, Environment Canada.
An analysis of the latest figures for key economic indicators and the factors which have affected these indicators. This should include the figures for unemployment, inflation and economic growth.
The unemployment rate is a very important indicator of the overall health of the economy. Currently the unemployment rate is at 7.8% (Office for National Statistics, 2012). However, this figure does not affect the population equally. Different segments of the population have different employment rates. Furthermore, the unemployment rate does not include people that are not actively seeking employment. In the chart these people are considered to be "inactive." Another interesting item listed in the report is that the unemployment rate for the youth demographic was falling due to a record number of 16 to 24-year-olds being enrolled in some type of educational program.
Employment in the UK has suffered from recession. In 2008 there was a…
Financial Times, 2013. Question 3: Fiscal Policy. [Online]
Available at: http://www.ft.com/cms/s/0/1115c770-545a-11e2-9d25-00144feab49a.html#axzz2IAShLpER
[Accessed 1 January 2013].
Kirka, D., 2011. UK recession fears grow as manufacturing drops. [Online]
If I was in Congress, I would not vote for such a tax. From an ethical perspective, such a tax is simply punitive. The oil companies are not strictly to blame if the price elasticity of demand for oil is low and they take advantage of that. Consumers have no inherent right to dirt cheap oil. The argument could be made that there are benefits to monopolistic profits such as further exploration, but that argument is actually a bit soft. First, drilling is already included on the income statement -- these are profits above and beyond what the companies need to sustain their business. And that is why they drill -- to sustain their business, so they're going to do it anyway. The reason you don't vote for such a bill has nothing to do with finding ways to make oil companies more profitable or less profitable; it is…