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Economic inequality occurs when there is a gap in the economic well beings of a group of individuals in a given country. In the Arab world, the economic inequality is one of the major factors that leads to the political violence because a discontent generated from a gap has been the major determinant of violent behavior. Typically, income inequality has a strong correlation with mass violence, and the higher the level of income inequality, the higher the probability of mass violence and political revolution. In 2010, a 26-year-old grocery vendor set himself ablaze in Tunisia because the police confiscated his goods. The event took place in a depressed area of Tunisia where the youth unemployment was more than 40%. The uprising occurred on the following day making a large proportion of the population to protest violently. The issue had the traits of a revolution with the aim of obtaining greater…… [Read More]
Social Economic Inequality
hen people think of social inequity, they generally frame this in terms of socio-economic class. People who have accumulated much wealth occupy the top echelons of society and enjoy the most privileges as brought on by their money and social status. On the other end, people who are poor have little or no access to these privileges and are often marginalized in terms of education and social services.
However, there are many forms of social inequity and stratification. In the United States, for example, much of social interaction is mitigated by gender and race. For example, statistics show that a wage gap exists between the genders. Despite pay equity laws and a growing awareness of gender discrimination and women's rights, salary disparities continue to exist between men and women across a broad range of occupations.
This paper argues that socio-economic inequality is caused by many non-economic factors,…… [Read More]
Locke’s Private Property Theory Cannot Justify the Economic Inequality We Observe Today
In 2015, more than 1 percent of families living in the United States generated over 25 times what other families of the remaining 99 percent generated (Kluegel & Smith, 2017). This discovery is being realized as the rich keep getting richer while the poor become even poorer, as observed in the US.
Locke starts by explaining his theory of private property by determining how people start to possess property apart from the ordinary resources offered to humankind. The key feature that defines a given part of private property is called labor, as the person who operates the “labor that eliminates [the good] from the common natural condition that it was left in” gives him ownership of the property (Locke, 2002; 30). Locke asserts that the common natural resources are available to every individual, but one takes ownership…… [Read More]
Furthermore, the best means by which to achieve upward social mobility for many people has been strong labor movements and corresponding labor laws that protect the interest of workers. Raising minimum wages, expanding opportunities for advancement, and reducing burdens on the poor are some of the ways income disparity can be minimized. These are policies and programs that have been systematically stifled in the United States, especially over the past several decades as conservatives have gained a stranglehold on policymakers and lobbyists in ashington. As Foner points out, too, New Deal policies proved effective in alleviating some of the root causes of poverty. Such forward-thinking programs and policies need to be implemented now, to curb the spread of income disparity.
There are other issues that need to be addressed, too, though. Marsh is coming from a Euro-centric perspective that denies the relevance of other models of education or curricula. He…… [Read More]
Economic Inequalities: Deep-ceded Problems in America
New York is a city that is synonymous with America to many people and societies around the world. New York city is a land of freedom and opportunity, symbolized by Lady Liberty in New York harbor. This is a place that does not discriminate based on background, but allows people to chart their own destinies. Or does it? The New York of the 1960s or even the 1990s does not exist anymore. Economic inequality has run rampant in New York as it has in many metropolitan cities. Bill Moyers, economist reported that “Among our largest, richest 20 metro areas, less than 50 percent of the homes are affordable.’ In New York City, he said, ‘Inequality in housing has reached Dickensian dimensions’” (Winship). This paper will explore how the economic inequality is undermining the very democratic principles that shaped this country. When there’s too much…… [Read More]
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.…… [Read More]
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…… [Read More]
nytimes.com/2006/05/02/books/02bett.html [26 Apr 2013]]
The main criticism levied against Kinzer's work is the question: where was the American public during these escapades? After all, if America is a democracy, do they not have responsibility for their leaders' actions? Sadly, they cheered their leaders on, or ignored what was being done in the name of their nation. "Only briefly does Kinzer touch upon the U.S. citizens who questioned government tactics in foreign land… Unfortunately, leaders - describing their motivation as benevolence and a desire to liberate the oppressed - have learned how to win popular support for even the most outrageous regime change, and U.S. citizens repeatedly fall for the bait."[footnoteRef:12] [12: Susan Froetschel, "Overthrow: America's Century of Regime Change from Hawaii to Iraq," [Review], Yale Global Online, 2006. http://yaleglobal.yale.edu/about/overthrow.jsp [26 Apr 2013]]
etts, Richard K. "A century of intervention, regarded with a cold eye." The New York Times.
2…… [Read More]
Economic inequality refers to the situation whereby wealth, assets or wealth are not distributed equally among individuals within a group, among some groups within a population or even among countries. Economic inequality is also described as income inequality, gap between the rich and poor, wealth and income differences and inequitable distribution of wealth. This issue of economic inequality can imply various notions such as equality of outcome, equality and the equality of opportunities. There exist differing opinions on the importance of economic inequality and the impact it has. There are some studies which have put emphasis on inequality as being a social problem. Whereas some inequality might promote investment, when it is too much inequality can end up being destructive. Though income inequality hinders long-term growth, it can also help long-term growth. Economic inequality differs between different societies, historical periods, and the existing economic systems and structures. This paper will…… [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 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…… [Read More]
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…… [Read More]
ealth does not equate to happiness, a sense of purpose, dignity or respect. One of the key underlying assumptions of neoliberal philosophy, as derived from Milton Friedman, is that financial wealth is the ideal end goal of all activity. hile financial wealth solves many problems it does not solve all problems. Opponents of globalization, whatever their other arguments, incorporate this understanding into their protestations.
Naomi Klein goes further, suggesting that the unequal wealth distribution in the globalized economy is deliberate. The march towards globalization is not an altruistic endeavor borne of a firm belief in the power of the free market, but is a calculated strategy on the part of the world's elite to seize the world's wealth and power at whatever expense is necessary. Indeed, any economic benefits realized by the masses are incidental. Casualties -- be they citizens of Iraq, indigenous peoples or indeed any of the world's…… [Read More]
Economics - Country Analysis
Country Overview and Current Events (News)
Ethiopia, traditionally known as Abyssinia, is a landlocked Sub-Saharan country located at the Horn of Africa in East Africa, bordering Somalia, Kenya, Eritrea, Djibouti, Sudan, and the newly-created South Sudan. It covers approximately 1,126,829km2 of land; about the size of the state of Texas, and was, until the split of Sudan, the second-largest country in Africa. Being landlocked, Ethiopia largely relies on the port of Djibouti, to which it is connected by both rail and road. Economic elements such as this, together with the country's history, population, geography and economic performance have been explored in the subsequent sections of this text.
Population: the U.S. Census Bureau, in June 2013, estimated Ethiopia's population to be 93,877,025; a figure that makes the country the second-most populous in Africa, after Nigeria (orld Bank, Index Mundi). Ethiopia's population has been on a steady increase…… [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]
Not only are they crucial for the movement of people, but they are crucial for the rapid movement of time-sensitive goods. Therefore the government has an interest in the survival of the industry. Government can and has involved itself through monetary policy in sustaining or resuscitating struggling airlines in order to maintain the overall strength of the industry.
Taxation is another area where governments affect the industry. This again relates to the tight margins, as taxation represents a key expense for airlines. Changes in the tax regime directly affect airlines' after tax profits. The government can encourage or discourage the industry based on its taxation policies. The IATA believes the airline industry to be more heavily taxed than some of its substitutes, and has an entire program to deal with the issue of taxation, highlighting taxation's relevance to the industry.
Another way in which fiscal policy can impact the industry…… [Read More]
Furthermore, existing vulnerabilities of the airline industry are not taken into consideration until a disaster occurs. Lastly, the September 11th Security Fee introduced by the Department of Homeland Security was considered by many "as a beneficial trade off for their personal safety eventually," having as a direct consequence a rise of the airline industry.
Gregory Mankiw (2004) Principles of Economics, 3e, Mankiw
InnovativeThinker. (2007) Economic Profile of the Airline Industry. Retrieved Feb 1, 2008, from Associated Content, Inc. Web site: http://www.associatedcontent.com/article/435732/economic_profile_of_the_airline_industry.htm
Wei, S. (2006). Analysis of aggregate Passenger Routes in Air Travel: An Atlanta-ased Study. Southeastern Geographer, Volume 46, Issue 1, page 139. Retrieved Feb 1, 2008, from web site: http://proquest.umi.com.ezproxy.apollolibrary.com
Recent Policy Initiatives to Raise Low Pay. (2004). Retrieved Feb 1, 2008, from ACORN.ORG: https://www.acorn.org/index.php?id=203
FRSF Economic Letter. (January, 2002). Airline Competition. Retrieved Feb 1, 2008, from Olin usiness School- Washington University: http://www.olin.wustl.edu/faculty/gowrisankaran/pdf_papers/airline_competition.pdf
Virgin Territory (2006, September 30).…… [Read More]
assumes the notion that it would be best to have "a system of economic
enterprises collectively owned and democratically governed by all the
people who work in them," meaning that he differs from the notions of Okun
and the Friedman's by proposing something radically different to promote
the ultimate goal of democracy (Dahl 92). Neither equality nor freedom is
necessary to fix the relationship between the economy and democracy, but
rather a completely different and even radical outlook on the relationship
between the economy and government can solve the dilemma. Furthermore Dahl
argues to how it is possible to retain the democratic principle within
firms, and prevent problems such as oligarchy. These notions in which the
economy becomes compatible with the political notions are completely
different than the Friedman's and Okun's notion that there lies a problem
with democracy. Dahl is even casting serious doubt on Tocqueville's long…… [Read More]
For the period of the late 1960s and early 1970s, West Germany strived to assist the dollar. The United States and many other nations pushed West Germany to reassess so as to make up for the dollar excess. (Germany in the World Economy)
At last, after escalating waves of conjectures, the retton Woods system had a collapse in August 1971. All through the post-retton Woods period, the deutsche mark stayed under pressure. In order to relieve strain within Europe, West Germany and other European states assented to peg their currencies to a special system of comparatively narrow exchange rate bands officially named the 'European narrow-margins agreement' but unofficially identified as the 'snake'. The United States and West Germany performed main roles in attempting to organize a new global monetary system. but, in spite of its willingness to make small exchange-rate alterations for the benefit of new currency arrangements, West Germany…… [Read More]
By means of automation, specialized works that were predominantly done by men in the manufacturing industries situated in the developed nations were diminished. Conversely, non-specialized jobs mainly in the electronic parts manufacturing industries, particularly the microchip, in which unskilled women in a number of developing nations find employment, became bigger. Thus, the electronic parts manufacturers, instead of investing in huge capital-based units, had favored to make use of manual workers based in nations wherein inexpensive, quiet, and for that reason mostly women workers was quickly accessible. (Mitter; owbotham, 1995) Hence, women in Asia could get several jobs from the electronics manufacturing industry. Fresh high school passed out graduates from the tiny villages moved to the cities for jobs available in the semiconductor units. Usually the daughters of those villagers who were high-incomes, these young females, irritated by the absence of clerical as well as semi-skilled employment prospects in their villages,…… [Read More]
The purpose of this paper is to examine the roles of gender and stereotypes in economic organizations, using examples from the movie "One Fine Day" to illustrate these roles. An abundant body of literature exists within both academic journals and the popular media concerning work and family conflicts that are encountered daily by Americans. Many work and family conflicts have been endured for time immemorial, such as the requirement to travel or work overtime. The result of work and family conflicts has often been that work wins over family, ending in missed life events such as births, deaths, skinned knees and soccer games. Often the father was the one away on business while the mother was home maintaining the family. This familiar family situation arose because "Ideologies assigning primary child-care responsibility to women prevail in most cultures" (Treas and Widmer, 2000).
The role of women in the home…… [Read More]
3. Third world countries are more likely to rely more heavily upon excise taxes on gasoline, tobacco, and alcohol because those are products that sell very well around the world. These are also products that are in a number of cases, particularly tobacco, that are cheaper than essential items such as water or food. Taxes on tobacco help poor countries who would rely on the taxes more wealthy and more reliant upon tobacco.
4. People in lower and middle income countries are more likely to react to taxation on tobacco because for the consumers of that product in those countries, they will have less income for food and shelter for example. People in wealthier countries can afford the increase; they may hardly notice the increase and if it bothers them on principle, for example, they can afford other alternatives just as easily.
5. Whether or not a government uses consumptive…… [Read More]
How do the theories of Marable and eich argue that racism is helpful (eich) and even essential (Marable) to capitalism?
According to Manning Marable the society that we live in is divided according to social, ethnic, political and religious groups. This division is further dramatized due to the economic facets and needs of society. acism thus furthers the divide of economy and capitalists structures in a competitive society require racism to ensure high profits. [Marable, 2003] acism allows low wages to be paid and hence promotes growth for less capital.
According to Michael eich's Segmentation Theory or the Divide and ule, the ultimate goal for any firm in the society is to increase profits by any means whether exploiting a certain class, weakening the bargaining powe or promoting prejudice. As a result there is a difference in wages that creates a 'corporate ladder' which allows a disunity to grow and…… [Read More]
Why does GE finance poorly-rated airlines with its aircraft financing? GE benefits in three ways: (1) its lower cost of capital than the airlines means that it can charge a risk premium, and make more money on the airline debt, (2) it sells aircraft engines and, more critically, spare parts, which are the biggest long-term source of revenue for the company, and (3) the loans are well-collateralized. Even in a bankruptcy procedure, the airlines have relatively little recourse to the assets, and GE would be free to sell or lease the airlines to others. Other leasing companies, while they don't have GE's aircraft engine business, are able to lure tax-advantaged investors (offshore, those receiving tax credits, others) who also give them a lower cost of capital; their expertise in leasing and selling planes, as well as their leverage in pricing negotiations with the major airframe manufacturers gives them an advantage…… [Read More]
Poverty & Economic Development
The link between poverty and economic development
The financial services sector and poverty alleviation
Trade and Investment
Trade and investment
In this paper, we explore the importance of the poverty and economic development dimensions such as infrastructure, private sector development, entrepreneurship, trade and investment and human capital. This is done while keeping in mind the ethical and governance issues like accountability and fairness and their influence on economic development. The content is discussed within the context of a financial services institution operating within African countries. In this paper, we also discuss the steps that the board and senior management of a company can take to address these issues, and describe which steps you would regard as the most effective.
The link between poverty and economic development has often been a subject of several discussions and studies (oemer & Gugerty,1997;Hull,2009; Loayza &…… [Read More]
Analysis of the Price of Inequality
In the year 2013, issues of socioeconomic inequality are perhaps as pressing and problematic as they have ever been. This is the assertion at the crux of Joseph E. Stiglitz text, The Price of Inequality: How Today's Divided Society Endangers Our Future (ISBN-13: 9780393345063). Released in 2012 by .. Norton & Company publishers, the 560-page text is a timely and compelling contribution to the current public discourse on our need for greater economic equality in the United States.
Understanding the orientation of the text at the center of this analysis requires a more complete understanding of its author, the economist, Columbia professor and winner of 2001's Nobel Memorial Prize in Economic Sciences. According to his self-composed biography at the Memorial Foundation site, Stiglitz (2001) was born in Gary Indian in 1943. By his own report, his interests as a young student would lead…… [Read More]
" (Dafler, 2005) Dafler relates that for more than thirty years children who were 'half-caste' "were forcibly removed from their families, often grabbed straight from their mother's arms, and transported directly to government and church missions." (Dafler, 2005) This process was termed to be one of assimilation' or 'absorption' towards the end of breeding out of Aboriginal blood in the population. At the time all of this was occurring Dafler relates that: "Many white Australians were convinced that any such hardship was better than the alternative of growing up as a member of an 'inferior' race and culture." (2005) it is plainly stated in a government document thus:
The destiny of the natives of Aboriginal origin, but not of the full blood, lies in their ultimate absorption by the people of the Commonwealth, and [the commission] therefore recommends that all efforts be directed towards this end." (eresford and Omaji, Our…… [Read More]
ichard Mitchell and Professor Daniel Dorling from the University of Leeds and Dr. Mary Shaw from the University of Bristol on the parliamentary constituencies of Britain revealed a number of social policy scenarios. The study traced the impact of the variations to society that might be brought through the effective execution of three social and economic policies. Firstly, they examined the efficacy of the policy of modest redistribution of wealth to counteract the health inequalities. During the decades 1980s and 1990s there were a considerable variation in the wealth possessions of rich and poor reflected in the major variations in their health enumerated by mortality rates. The study revealed that by returning to the inequalities in wealth of 1983 about 7500 deaths annually could have been prevented. (educing health inequalities in Britain)
The study assessed the impact of such policy to be most effective in the Birmingham Ladywood constituency in…… [Read More]
ecent proposals to privatize Social Security and cut Medicaid funding would thus exacerbate the equity gaps that already exist." (Center for American Progress, 2004)
When a young black man is accepted into a university-based wholly on quota requirements even though he may have had less success in High School compared to a young white man, then we must again redefine our word - inequality. Who is worse off in this case? Consider that in this scenario, it may in fact be an advantage for a person to be young and black but as the scale tips with age, that same advantage becomes a liability. The answer to our question then, at least for this example, is maybe.
Economic independence may be the outcome when wage work is an option. but, there are many scenarios where wage work puts people into an even worse economic setting. Consider that minorities…… [Read More]
Poverty and Inequality Among Children
Studies show that child poverty has been increasing at an alarming rate in the last decade. In 1994, 15.3 million children, or 21.8% of all Americans, were poor (Lichter 1997) and that, although children constituted only 26.7% of the population, 40.1% of all poor persons in the U.S. were children (U.S. ureau of Census 1996 as qtd in Lichter). These rising poverty rates are used by government agencies in determining the criteria for eligibility in social insurance programs and public assistance interventions developed by these government agencies. And, according to these criteria, the economic well-being of American children is on a downtrend, which indicates that tomorrow's adults will be less economically adjusted than adults today and that the future of today's children is materially and psycho-emotionally less promising (Lichter).
In his study, Lichter (1997) pointed to the rapid changes in the most fundamental institutions --…… [Read More]
Again, oolf's sarcasm rears its head here, as she unpacks the idea
that men should be so preoccupied in shaping an image of women that
conforms to the circumstances which a patriarchal society has manifested.
In this regard, there is a damning economic symbiosis between the real
subjugation of women and the images conjured of the fairer sex by their
alleged admirers. oolf demonstrates the woman of fiction and the woman of
this point in history as both being concocted of male desires, ambitions
and materialist conceits. Here, monetary wealth is tantamount to sexual,
marital and intellectual subjugation.
From the perspective of her time and place, oolf sees something
irreconcilable in the conditions facing women, especially in the quest to
express themselves with literary honesty and accuracy. Today, there is
continued relevance to this idea as women still grapple for equal pay in
various lines of profession, where they…… [Read More]
In order to reduce the negative implications of social inequality, based on race, ethnicity or even economic features, researcher James Jackson promotes three broad recommendations. They are as follows:
development of a sustained, comprehensive focus by government and private and public organizations on providing greater economic opportunities in education, employment and intergenerational transfer of wealth enforcement of existing Civil ights legislation and regulations to eliminate continuing, persistent racial and ethnic discrimination in housing, employment, schooling and the criminal justice system, and identification of common objectives among racial and ethnic minority groups to produce workable, long-lasting coalitions" (Jackson)
The past century has witnessed improvements in the conditions of the white immigrants to the United States and this has materialized in reduced crimes and punishments within the Chinese and Japanese communities. The improvements in their situation have been based on increasing socioeconomic status. The same cannot however be said about…… [Read More]
Educational Inequality Along acial Lines
The role of education in the American society cannot be overemphasized. Education plays an important role in equipping students with knowledge and skills for transforming their life and the society at large. Also, the education system instills appropriate values, behaviors, and attitudes in students, making them useful members of the society. Nonetheless, while education is important, it tends to reinforce the existing social inequality, particularly along racial lines. Funding inequalities and learning outcomes between schools from privileged backgrounds and those from unprivileged backgrounds attest to this. This paper examines inequality in education along racial lines. The paper specifically focuses on four aspects: the role of education from two sociological perspectives; the role of funding in producing educational inequality along racial lines; America's cultural diversity (in terms of race, gender, ethnicity and class) and the educator's role in promoting cultural diversity; as well as an anti-racist…… [Read More]
Economic Injustice in the Fictional orks of Dickens and Gaskell
In his text on human commercial practices and economic behaviors, author James Black diverges from many of the dryer and less nuanced textual considerations of socioeconomic dynamics. He does so by couching his discussion in frequent divergences into iconic and modern works of fiction. These add a humanitarian consideration to many of his discussion points, helping to provide more complex rationales for why human beings in business and matters of money tend to behave the way they do. Beyond this, Black provides a compelling template for consideration of broader sociological concerns. This serves as an ideal framework for the present discussion, which considers pressing human issues such as poverty and labor conditions. Hereafter, we consider the works of Charles Dickens and Elizabeth Gaskell, both of whom would comment extensively on the economic affairs of societies in their highly…… [Read More]
Soure Kodakanhi et al. (2006) iting Shreyer (1999), Table, page 19
Further reported by Kodakanhi et. al, is the fat that one of the Afrian ountries, and there are many, that faes poverty and inequality disaster is the ountry of Ghana. Advanes in tehnology in Ghana are stated to be "meager sine its independene in 1957." (2006) the eonomi development model based on it for developing ountries takes into aount the major onerns to it advent into these ountries whih are those of the: (1) Inability to invest in the it field due to poor finanial infrastruture; and (2) inadequate human power with the knowledge of it." (Ibid) the eonomi model, whih has been proposed, is one that has larger foreign investment and government poliies in support of it development as well as an awareness on the…… [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]
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]
Inequalities Are Made and emade South Wales
The objective of this work is to examine the way that inequalities are made and remade in South Wales. As this study will relate, there are inherent inequalities in South Wales both historically and traditionally. The work of Winckler (2009) entitled "Equality Issues in Wales: A esearch eview" that statistics on equality in Wales is based on measurements relating to race, gender, disability, age, sexual orientation, and religion. The report states that there are 10,000 refugees and 2,500 asylum seeker in Wales, in addition to 2,000 Gypsy Travelers. Men are outnumbered by women. 29% of the population is 60 years old or older. An approximate 27% of the adult population is disabled.
Poverty and Social Exclusion
Winckler states that sufficient evidence exists to make the conclusion that ethnic minority groups along with individuals who are disabled and children and young people as well…… [Read More]
Murray characterizes educational romantics as people who believe that the academic achievement of children is determined mainly by the opportunities they receive and has little to do with their intellectual capacity. Educational romantics believe the current K-12 education system is in need of vast improvement.
Murray describes two types of educational romantics, one set on the Left and one on the ight, and differentiates between the two thusly:
"Educational romantics of the Left focus on race, class, and gender. It is children of poor parents, and girls whose performance is artificially depressed, and their academic achievement will blossom as soon as they are liberated from the racism, classism, and sexism embedded in American education. Those of the ight see public education as an ineffectual monopoly, and think that educational achievement will blossom when school choice liberates children from politically correct curricula and obdurate teachers' unions (Murray, 2008)."
Both of these…… [Read More]
economic environment, simply defined, Globalization is "a phenomena by which economic agents in any given part of the world are much more affected by events elsewhere in the world." (Wolf, 2004) Globalization also "refers to the process of increasing social and cultural inter-connectedness, political interdependence, and economic, financial and market integrations. Globalization makes alliances an integral part of a firm's strategy to better satisfy customers and to achieve sustainable competitive advantage." (Thoumrungroje and Tansuhaj, 2004) Technology has changed the way we work and live. The role of national governments in shaping domestic policies still matter. ut multinational organizations play a significant and often very critical role in influencing many of the decisions made by the government of countries all over the world. Liberalization policies implemented by governments have the ability to change the way business interactions take place. Markets and operations, these days, have been crossing geographical boundaries. Government can…… [Read More]
This could indicate that the latter two countries seek to join the EU in hopes of more prosperous futures.
e) State of education in the country
From the standpoint of education, this is best ranked in Belgium, with a score of 8.8 on a scale from 1 to ten, and it is closely followed by France, with a score of 8.5, on the same scale. The Germans ranked their educational system with an 8, and the Dutch ranked their educational system with a 7. Turkey reveals a similar perception of its educational system as the Dutch, but the Croatians and the Turks have less positive perceptions over their educational systems.
From this standpoint then, it could be argued that all three non-EU member states would benefit from the accession to the EU as this would serve as grounds for improvement of their educational sectors.
f) State of health services in…… [Read More]
inequalities there needs to be a curb injustice and prejudice that occurs. A country should be considered to be like a family where the weakest is protected against the strongest who may consciously or unconsciously wrong them. It also must not be forgotten that the weakest are not to be excused for breaking the law, as no one should be above the law. All individuals need to be treated as equals, and hence, also deserve equal rights in status; caste, color or creed should not have any bearing on the way that one is treated.
Being contemporary human beings, it is about time that primitive beliefs are deemed irrelevant. A political set up that is independent of religious influences is perhaps the most appropriate for a country because of the fact that more people will eventually be brought closer together.
Considering the ongoing discrimination, it appears that this is the…… [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]
Social Stratification and Social Mobility
Systems of social stratification
The systems refer to the manner that the society utilizes in ranking individuals in a hierarchy. Undeniably, the classifications suffice the reality that some groups of individuals possess greater wealth, power, and status compared to others. Differences in the groups of individuals describe the nature of social stratification. Social inequality occurs as a significant aspect of the society as it facilitates the smooth operation of the society. For example, high rewards lure and motivate highly talented individuals to perform involving tasks such as brain surgery. On the other, most individuals can perform blue-collar jobs such as cleaning toilets and mowing grass thereby limiting its level of returns.
The open class system allows social interactions between classes that rely on achievements, prevalent in industrialized nations. On the other hand, the closed class system confirms on the social status of individuals and ancestral…… [Read More]
Politics and Libertarianism
According to the documentary "Liberty and economics" which focuses on the work of the economist Ludwig von Mises, the free market works in an ideal fashion because consumers can decide what they wish to buy in a free and unfettered manner. Von Mises' thought was heavily shaped by his experiences as a Jew living in Nazi Germany: he saw Nazism, socialism, and communism all as ideologies which attempted to deprive people of the ability to make decisions on their own terms. Von Mises believed that all economic problems were rooted in mismanagement by the government and centralized authority. He was a great advocate of the gold standard as a method of ensuring market independence. Von Mises was extremely unpopular because he condemned both fascism and communism as statism and contrary to liberty: conventional economic liberalism was very unpopular when he was writing and frowned upon as antiquated.…… [Read More]
Economic Integration of GCC Countries: Developments Since
Economic Integration of GCC Countries: Latest Developments Since 2010
It is important to examine the Gulf Cooperation Council (GCC) Key Economic Indicators. Primarily, 2014 Key economic indicators will present statistical information, which will seek to foster economic determination and engineer the determination of current and future performances. A collective economic indicator examines aggregate earning reports, list of economic summaries relating to this region and as well as, reflecting on various macroeconomic indices. This report will prove that the GCC (2014) economic indicators are collective in answering aggregate macroeconomic challenges. This study is a collective possible research leading to the construction of key economic indicators (2014) analysis as adopted by GCC partners. GCC economies have been growing tremendously in the past ten years. This study focuses solely on some of the serious economic developments and polices evident in the region in the past four…… [Read More]
a positive trend?
In order to fully understand the complexities of economic globalization, one must first sufficiently define the term in regards to how it is viewed in today's world. Thomas L. Friedman defines globalization as a system or a paradigm, "an approximate set of rules by which to conduct life," yet he also points out that globalization itself presently serves as a replacement for the old system begun and fostered during the Cold War which came to a close when the Soviet Union collapsed in 1991 (Sjursen, 3).
However, others have countered that globalization is defined by trends related to third-world countries that economically become stable as a result of re-defining their old national standards. For example, Juan Enriquez argues that the global trade market "allows a small region to break its dependency on a larger nation state," whereby "protection is no longer necessary," with the result…… [Read More]
Inequalities in Mental Health
Over the last several years, different theories have been utilized to explain the societal factors in the quality of mental health. The basic idea is to understand which variables will have the greatest impact on the person's ability to contribute to society. The social structure theory is taking a unique perspective in studying the problem. To fully understand its importance requires looking at the main ideas and why it was chosen. Together, these elements will illustrate how this influences mental health and the effects it is having on contemporary thinking. (Gabbidon, 2005) (Cole, 2013)
The social structure theory believes that the economic class will have a direct impact on the quality of care, treatment options and the effects on society itself. This is because poor neighborhoods face greater amounts of strain, frustrations, reduced opportunities and disorganization. These variables will influence how someone sees their surroundings and…… [Read More]
Micro Economics: Chapter Summaries
Microeconomics Chapter Summaries
Summary 'Chapter 7: Monopoly'
Market power refers to the ability of one of more firms in an industry to impact the pricing and supply of products and services for general consumers (Hall & Lieberman, 2010). A firm holding market power experiences a downward slopping demand curve. Monopoly is one of the four major types of market structures (Boyes & Melvin, 2009). It refers to the dominance of only one supplier (or producer) over the entire market (McEachern, 2012). Since a monopolist firm does not have any direct competitor in its industry, it sets prices and supply options itself. Unlike other market structures, monopoly has only one market demand curve, i.e. The demand curve for the monopolist firm and for its industry are same (Shiller, 2009).
Being the only supplier in the industry, this firm can impact the prices of products or services by…… [Read More]
This aspect of the study were inclusive of works of "economic historians on the development of financial systems" most particularly the "banking systems" worldwide and exactly what the resulting impact will be. (Rousseau & Sylla, 2001) hile the two identified "strands of literature" one dealing with domestic and the other international developments, are no always related to one another" but are however, both elements of the story called financial globalization." Definition of a "Good Financial System" states that there are five key components which are: (1) Sound public finances and public debt management; (2) Stable monetary arrangements; (3) a variety of banks, some with domestic and others with international orientations, and perhaps some with both orientations; (4) a central bank to stabilize domestic finances and manage international financial relations; and: (5) ell-forming security markets."
Impacts of Globalization on National Economies
Impacts on the economies of the world have been stated…… [Read More]
.. when every citizen is given the full chance to reach his or her potential." (Celimene and riys)
This understanding of equality remains true "... As long as we do not remain unequal in residual (unwanted) risks. That is as long as inequality is not rooted in pure random events. Otherwise this inequality is bad, a true divide indeed!" (Celimene and riys).
What Dornbusch is saying in effect is that inequality is a positive aspect that flows from the different talents, motivational elements and market forces that normally occur in a free market economy. He does not view inequality that is a result of outside factors that are imposed, such as discrimination and oppression, in a positive light. Only inequality that results from natural differences and different degrees of individual effort and motivation is considered to be "good." In this regard I would tend to agree with his views.
On…… [Read More]
(Chandrasekhar and Ghosh, 2005)
Chandrasekhar and Ghosh state that the macroeconomic policy in China resulted in macroeconomic mechanisms that "differed substantially from those in predominantly market-driven economies. These differences relate to the availability of monetary or fiscal levers of the kind available in market economies, to the nature of the institutionally determined transmission mechanisms and to the outcomes of what appear to be similar policies. Only inasmuch as "economic reform" results in the generation of features characteristic of market driven economies in centrally planned systems, would the transition result in a gradual process of convergence in the nature of the policies, mechanisms and outcomes being addressed." (2005) It is related that despite the complete control of the Chinese government over the creation of money and fiscal policy "..., in the sense of using deficit financed expenditures to prime the economy, does not appear to have been a major thrust of…… [Read More]
New Inequality by Richard B. Freeman whereby he has given certain viewpoints about the income inequality problems in the United States.
Richard B. Freeman in his book The New Inequality has discussed about the income inequality problems that are prevalent in the United States. The same has risen to unexpectedly high levels. He has told one and all about the unfathomable experiences attached with earnings of low-paid Americans as well as income recession that has hit these people consisting of nearly 80% of all American families. This paper discusses the issues attached with inequality with respect to incomes of the Americans.
Argument of the Author
The argument provided by Freeman in his book is pretty solid and conclusive in stating what is the current problem with the American families in the times of today as well as what needs to be done in order to plug the gap between the…… [Read More]
nature of inequality between the north and south, he has to understand the role of technology in the international system. Someone who would say such a thing overlooks the fact that it's not the amount of technology that counts, but how you use it that matters. In the wealthiest western nations, the use of technology has been actively directed by well-regulated capital lending mechanisms. These financial instruments allow inventors, laborers, and merchants to borrow money at interest that can later be repaid within the context of a legal environment that protects property and contracts.
According to Weatherby, the tragedy of the third world has four culprits: dependence on the west, delayed modernization, increasing population, and the unequal distribution of wealth. He argues that even if all third world countries don't possess these qualities; that each possesses two or three of them. If the lack of modernization is to serve as…… [Read More]
Fiscal and Monetary Issues in America
There are high tensions in the American economy today resulting from speculations whether the government will be able to hit the debt ceiling. Failure to hit the debt ceiling has serious economic effects to many sectors of the economy both in the United States and various countries of the world. Political disagreements regarding the budget delay decision-making process as the date ceiling draws closer each day. The government debt will cause disruption and failures in the U.S. market system and beyond because some rates will double while others will completely fall. The consequences of these are both the government and private sector failures and the economy will not be in a position to sustain itself. Government securities will lose market value and the cost of bonds will double because of the risk premiums. The result of this is government deficits, which will require…… [Read More]
Sociology Politics and Economic Life
Over the last several years, the political and economic system has been experiencing tremendous amounts of turmoil. Part of the reason for this, is because of the implosion in the asset prices related to the housing crisis and deregulation. To fully understand how this contributed to the current situation requires looking at the current state of democracy and equality in the United States. This will be accomplished by looking how the social elite manipulated these areas and the practices that have contributed to the current situation. Once this occurs, is when we will be able to offer the greatest insights as to how these factors are impacting the economic and social balance inside the nation.
Discuss how elites manipulated the political and economic systems to advance their interests and how these practices contributed the current economic crisis.
The way that social elite manipulated the political…… [Read More]
School Finance: Its Economics and Politics
School financing in America
Revenue sources for federal and state governments
Judicial reviews of school finance policy with evolving standards of equality
School-based decision making
Family choice of schooling
Reform of schooling-finance
Providing equality in educational opportunities to all is one of the cornerstones of American democracy. The founding fathers of America were aware of the necessity of having a population, which is educated since it enables an opportunity for all the citizens of the country to be successful. The necessity and the desire to create an environment where all children have equal opportunities for education to achieve success are now creating fundamental challenges in the field of education in America. In the 20th century, the issues which concerned school finance was about dealing with how to overcome fiscal disparities with the use of state and federal resources within a public school system. The…… [Read More]
It offers a good theory as it emphasizes on the production and export of those items for which a country possesses a comparative advantage. Furthermore, through its focus on the reduction of taxes and tariffs in international trade and the adherent practices, the theory of comparative costs has set the basis for the contemporaneous processes of market liberalization and globalization.
But the theory has not been spared from criticism. Oumar Bouare states that "the market price of a commodity does not converge toward its natural price. (Then) the outcome of complete specialization in icardo's framework locks third world and developing countries out of industrialization; and free trade could destroy the industrial base of a country, which in the long run could generate more wealth for the country than an imported product. This might also lock the country out of industrialization." b) in 1848, utilitarian economist John Stuart Mill wrote the…… [Read More]
Canada's economic goals are: political stability, reducing national debt, economic growth, increased productivity and efficiency, equitable distribution of income, price stability, and full employment.
IMF slashes Canada's economic prospects. (Sept., 21, 2011). CTV News. http://www.ctv.ca/CTVNews/TopStories/20110920/canada-economic-outlook-imf-110920/
One of the Canadian economic goals is to achieve full employment, but the International Monetary Fund just revised its former predictions, assessing the Canadian employment rate as dropping rather than picking up and the nation's economy growing slower than anticipated. In fact, the forecast seems to worsen the coming year with the economic forecast assessed as 2.1% his year and only 1.9 per cent the coming year. Moreover, both Statistics Canada, and the IMF predicted that unemployment would only increase with the IMF pronouncing that Canada's unemployment rate will climb to about 7.6% this year and to about 7.7% in 2012. Gloomier economic forecasts, it seems, are generic to other euro-USA nations too.
Analysis of…… [Read More]
These safety nets would give assistance to those who need it most, giving priority to developing economies. As economies and people grow more interdependent, the gap between the "have's" and the "have not's" grows wider and wider. Longstaff sees this as a negative consequence of the informational and opportunity inequalities that are becoming more and more prevalent. He argues that people need to be more "fair" to each other and that corporations and individuals should not prey on other, weaker economic entities and individuals at the cost of the equality and fairness within the markets.
Some people will admittedly choose not to ultimately participate in the markets as developing nations and individuals begin to have more opportunities and access to information in a perfect world. The economic models that Smith posited would work in a perfect world, or as Longstaff words it, in a "vacuum." According to the article's author,…… [Read More]