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Japan from an economic perspective. hat will one learn from the New York Times? Is there something that should get done as a means in which to make help those citizens how live in this part of the world? Is this part of the world saving, spending or both? One will discuss this article in depth from macroeconomic perspective.
By evaluating the problem, one is able to see what is going on in Japan from then to now. From 1990-2000, the people experienced economic discontent because of wages that were low as well as stumpy stock prices. This made everyone that lived there become cheap in their spending habits. However, this has changed since then; in fact, they are better off (Tabuchi).
A number of arguments are worth explaining with this article. For example, "Japanese households use old bath water to do laundry, a popular way to save on utility…
Tabuchi, Hiroko. "When consumers cut back: An object lesson from Japan." 21 February 2009. New York Times. 16 June 2011 .
Where, many can be able to acquire and construct such materials that can be purchased on the black market. As a result, this increases the odds that these types of weapons will be used in the future, to create a super terrorist attack. This is significant, because it can be used to corroborate other research on terrorists seeking to acquire and use WMDs. Where, they could be purchased on the black market or one of the state sponsors of terrorism could pass this material to these groups. (Campbell, 1997, 24 -- 50)
usch, N. (2008). Force, Preemption and WMDs. Combating Weapons of Mass Destruction. (pp. 156 -- 175). Athens, GA: University of Georgia Press.
In this piece of literature, the author discusses how there are confusing international standards for dealing with WMD's and how to control them. This is because approaching the problem has been difficult. Where, some nations try…
Busch, N. (2008). Force, Preemption and WMDs. Combating Weapons of Mass Destruction. (pp. 156 -- 175) Athens, GA: University of Georgia Press.
Campbell, J. (1997). Weapons of Mass Destruction and Terrorism. Terrorism and Political Violence 9 (2), 24 -- 50.
Kan, S. (2009). China and the Proliferation of Weapons of Mass Destruction. Congressional Research Service. http://www.au.af.mil/au/awc/awcgate/crs/rl31555.pdf
Krauthammer, Charles. (1991). The Unipolar Movement. Foreign Affairs 71 (1), 23 -- 33
Crop Insurance Subsidies
Crop insurance has become highly subsidized due to the private sector being unsuccessful in providing crop insurance products to the industry. There are concerns as to the efficiency of crop insurance subsidies due to the costs being high. ut, crop insurance is the greatest risk management tool used by producers.
The rationale for public crop insurance subsidies includes the inability of the private sector to successfully provide all risk crop insurance products (Smith, 2012). There are high loading costs of associated crop insurance and producers use other strategies of risk management, such as futures and options, contracting, cultural practices, such as irrigation, pesticide use, herbicides, crop and livestock diversification, non-farm income, saving and borrowing, leasing, government price and support programs, and government disaster assistance payments. Moral hazard monitoring can be costly and raise premiums too high. Systematic risk or yield losses tend to be positively correlated across…
Babcock, B. (n.d.). The revenue insurance boondoggle: A taxpayer-paid windfall for industry. EWG, Retrieved from http://static/ewg.org/pdf/Crop-Insurance.pdf.
Capitanio, F.D. (2011, Aug 30). Natural vs. financial insurance in the management of weather risk exposure in the Italian agriculture. Retrieved from Academia.edu: http://www.academia.edu/2893305/Natural_Vs_...Weather_Risk_Exposure_in_the_Italian_Agriculture
Collins, K. & . (2013). Crop insurance and the future farm safety net. Retrieved from Choices: http://www.choicesmagazine.org/choice-magazine/submitted...crop-insurance-and-the-future-farm-safety.net
Riedl, B. (2007, June 20). How farm subsidies harm taxpayers, consumers, and farmers, too. Retrieved from The Heritage Foundation: http://www.heritage.org/research/reports/2007/...es-harm-taxpayers-consumers-and-farmers-too
Those countries who have developed their own WMD programs and have not signed various non-proliferation agreements, highlights this hypocrisy that is existing in the international community. Where, no one is willing to force new countries that develop their own WMD programs to commit to such standards. This is problematic, because it telling the world that those countries not committing to various non-proliferation efforts, can maintain their programs (in secrecy) despite the international standard that is in place. At which point, other nations will seek to start their own WMD programs, as they see this as a double standard. Where, you are not supposed to have these weapons, yet once you do they may not apply.
When you combine this with the fact, that those countries that have not signed various international accords are also not making such disclosures to the IAEA; will more than likely be inclined to pass this…
Cimbala, S. (2005). Nuclear Weapons and Strategy. New York, NY: Routledge.
Gardner, H. (2007). Risks of Nuclear Proliferation. American Global Strategy and the War on Terrorism. (pp. 81 -94) Aldershot, UA: Ashgate.
Heng, Y. (2009). The Proliferation Security Initiative. Risk, Global Governance and Security. (pp. 87 -- 95). New York, NY: Routledge.
Lia, B. (2004). Weapons of Mass Destruction. Globalization and the Future of Terrorism. (pp. 39 -- 48). New York, NY: Routeledge.
Amnesty International (2010) also reports that domestic violence is the major cause of death and disability for women ages 16 to 44 years. Of course, there isn't any forgetting that women in Colombia and Darfur -- places of dangerous armed conflict -- are commonly raped. Amnesty International also notes that the trafficking of women has become a global issue; women are exploited sexually, raped, forced into hard labor and are victims of severe sexual and physical abuse.
The United States must take a stance in helping to protect women across the globe. On February 4, 2010, members of Congress introduced the International Violence Against Women Act (I-VAWA), an important step in protecting, defending and empowering women around the world. This would be a groundbreaking law as we live in a world where "approximately 1 out of 3 women worldwide has been beaten, coerced into sex or otherwise abused in her…
European Parliament. "Background Note on the Political and Human Rights Situation in Sudan and Darfur." 2007. Retrieved on June 27, 2010, from the Web site:
Responsibility to Protect. 2010. Retrieved on June 26, 2010, from the Web site:
One also has to question the 'rationality 'of these criteria in the light of the severity of the possible repercussions and diplomatic fallout.
The most acceptable criterion which could justify the use of force in intervention is when the freedom of the state of the safety of its citizens comes under real and tangible threat. However, what is much more questionable are other criteria which are vague and possibly ethically suspect. For example, the view of theorists like Clausewitz that forceful intervention is a tool used by the states to achieve certain political objectives:"….war was merely one means states might employ to achieve objectives set by political authorities" ( Viotti and Kauppi, 2009, chapter 7).
The above perspective, in my point-of-view, is unacceptable as a true criterion for the intervention by force. The reason for the rejection of this criterion is not only on ethical grounds but also refers to…
Brown, B.S. (2000). Humanitarian Intervention at a Crossroads. William and Mary Law Review, 41(5), 1683. Retrieved June 23, 2010, from Questia database: http://www.questia.com/PM.qst?a=o&d=5001761450
Hillen H. (1996) American Military Intervention: A User's Guide. Retrieved from http://www.heritage.org/Research/Reports/1996/05/BG1079nbsp-American-Military-Intervention-a-Users-Guide
Johnson J. Which Criteria Should the President Use to Decide on Armed Intervention?
Retrieved from http://gotmine9.blogspot.com/2008/05/which-criteria-should-president-use-to.html
Economic View of the Death Penalty
In 1972, The U.S. Supreme Court ruled in the case of Furman v. Georgia that the death penalty, as applied in three capital cases in the state of Georgia was "cruel and unusual punishment and in violation of the Eighth and Fourteenth Amendments. (Hastings and Johnson, 2001, paraphrased) A mere four years later the state of Georgia was once against before the Supreme Court in the case of Gregg v. Georgia, a case in which the decision handed down by the court found that the death penalty was in fact constitutional. (Hastings and Johnson, 2001, paraphrased) The objective of this study is to examine the practice of the death penalty from an economic perspective. Towards this end, this study will examine the literature in this area of study. According to a recent report there are several states considering abolition of the death penalty including…
Dieter, Richard C. (nd) What Politicians Don't Say About the High Costs of the Death Penalty. Retrieved from: http://www.fnsa.org/v1n1/dieter1.html
Donohue, John J. And Wolfers, Justin (2004) The Death Penalty: No Evidence for Deterrence. Economist's Voice. April 2004. Retrieved from: http://bpp.wharton.upenn.edu/jwolfers/Press/DeathPenalty (BEPress).pdf
Hastings, L.J. And Johnson, Allan D. (2001) The Illusory Death Penalty: Why America's Death Penalty Process Fails to Support the Economic Theories of Criminal Sanctions and Deterrence. 2001 University of California, Hastings College of Law Hastings Law Journal. Retrieved from: https://litigation-essentials.lexisnexis.com/webcd/app?action=DocumentDisplay&crawlid=1&doctype=cite&docid=52+Hastings+L.J.+1101&srctype=smi&srcid=3B15&key=10b4f49062a2ae4631639988123ab2c5
Saving Lives and Money (2009) The Death Penalty. The Economist. 12 May 2009. Retrieved from: http://www.economist.com/node/13279051
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.
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…
Bartol, Kathryn. Female managers and quality of working life: the impact of sex-role stereotypes. Journal of Occupational Behaviour Vol. 1, 1980: 205-221.
Bernstein, Aaron. Women's Pay: Why the Gap Remains a Chasm; A new study spells out the costly impact of family obligations. BusinessWeek Iss. 3887, New York, 14 June 2004: 58.
Blau, Francine and Lawrence Kahn. Gender Differences in Pay. Journal of Economic Perspectives, Vol. 14 No. 4, Fall 2000: 75-99.
Conlin, Michelle. Self-Deprecating Women. BusinessWeek Iss. 3887, New York, 14 June 2004: 26.
economic burden Attention Deficit Hyperactivity Disorder. The research arguable issue yield a 1000-1200 words. All work local (USA) global.
The economic burden of Attention Deficit Hyperactivity Disorder
Attention Deficit Hyperactivity Disorder has been discovered relatively recently, meaning as such that progress has yet to be made in terms of treatment and management. Additionally, research is also yet to be exhaustive, as numerous aspects of the affection remain uncharted.
One important aspect of Attention Deficit Hyperactivity Disorder is represented by the economic cost of the affection, revealed at multiple levels, such as the cost for the healthcare system, as well as the costs for the family. The current project assesses this issue through the lenses of the research that has already been conducted on the topic, in an effort to centralize and conclude upon the matter. The means in which this endeavor would be addressed is that of the Toulmin Method.…
Bernfort, L., Nordfeldt, S., Persson, J., 2007, ADHD from a socio-economic perspective, Foundation Acta Paediatrtica
Daley, D., Birchwood, J., 2009, ADHD and academic performance: why does ADHD impact on academic performance and what can be done to support ADHD children in the classroom, Child: care, health and development
Matza, L.S., Paramore, C., Prasad, M., 2005, A review of the economic burden of ADHD, http://www.resource-allocation.com/content/3/1/5 last accessed on March 30, 2012
Weida, S., Stolley, K., Organizing your argument, Owl Purdue, http://owl.english.purdue.edu/owl/resource/588/03 / last accessed on March 30, 2012
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.
Balanced Federal Budgets
The federal government has a wide variety of responsibilities, most of which stem from programs that the government has created. Some of these outlays are discretionary, but many are not. The trade-offs for the federal government are usually not a question economics, but politics. The current federal budget for FY2016 shows a deficit of $474 billion. The largest outlays are for social security ($891 billion), other mandatory programs ($627), defense ($589), Medicare ($529) and non-defense discretionary, which covers a wide variety of different programs. Finding $474 billion to cut there -- or some of that money in conjunction with tax increases -- is inevitably going to be a challenge. Much of government spending in the budget is in the form of mandatory programs. Further, many of these are impossible, politically, to reduce. One does not simply cut Medicare payouts without losing a strong voting bloc, for example.…
Government Finance Officers Association. (2014). Distinguished Budget Presentation Award Program (Budget Awards Program). Retrieved from http://www.gfoa.co/sites/default/files/BudgetDetailedCriteriaLocationGuideFY2015.pdf
Mikesell, J. L. (2014). Fiscal administration: Analysis and applications for the public sector (9th
ed.). Boston, MA: Wadsworth.
Economics: Neoclassical, Keynesian, And Marxian Theories
Social theories attempt to explain how people interact with each other, and with their surroundings. For this reason, it is believed that social theories shape society, so much so that people will theorize elements in their surroundings based on their life situations and what they experience in their interactions. Towards this end, what one person thinks or believes about a certain aspect may not necessarily be what another person thinks; people hold different theories about how the economy works, and how it influences human interactions - and this is particularly why we have multiple economic theories today. Social theories are broadly categorized into three -- humanism, structuralism, and dialectics. These three have been applied to economic theory to explain how the various elements of the economy interact to realize maximum outcomes. This text demonstrates how the aforementioned social theories have been used to shape…
Hackett, Steven. Environmental and Natural Resources Economics: Theory, Policy, and the Sustainable Society (2nd ed.). Armonk, NY: ME Sharpe, 2012. Print
Wolff, Richard and Resnick Stephen. Contending Economic Theories: Neoclassical, Keynesian, and Marxian. Cambridge, MA: MIT Press, 2012. Print
Wolff, Richard. "The New Reading of Karl Marx's Capital in the United States." Professor Wolff's Social Movement Project, 2007. Web. 3 March 2015 http://www.rdwolff.com/content/new-reading-karl-marx%E2%80%99s-capital-united-states
The nation will enforce law and order to protect its public property, regulate monetary frameworks and correct market failures. The government will be responsible for protecting private life of its citizens and property (Grant & Vidler, 2000).
Market and Competition Forces: the country's economy should be designed in such a way that it will promote competition. This is because competition means a fair deal in obtaining results. The government should increase sellers and buyers in the market because this would promote competition thus increasing the quality and efficiency. With competition, the country will be able to control and manage different functions of its economy (Grant & Vidler, 2000). Demand and supply are the prime market forces determining the production of a country produces and the suitable ways to do so.
Market equilibrium, price and output, are determined by market forces. Therefore, I would recommend that any least developed nation to…
Bahl, Roy, W. (2008). Land taxes vs. property taxes in developing countries. Cambridge,
MA: Lincoln Institute of Land Policy.
Grant, S. & Vidler, C. (2000). Economics in Context. New York: Heinemann.
Hyman, D.N. (2011). Public finance: A contemporary application of theory to policy (10th ed.).
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…
Carr, D.A. (2011). Responses to Local Fiscal Shocks: Path Dependency Effects of the Clean Air Act. Public Finance and Management, 11(2), 160+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5050180027
Hendrickson, J.M., & Nichols, M.W. (2010). Did Commercial Banks Close Branches in Low-income Neighborhoods in Response to the Cra? Implications for Understanding the 2007-2008 Financial Crisis. Journal of Legal, Ethical and Regulatory Issues, 13(1), 17+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5044499375
Johnson, E.M. (2010, April). Mr. Trust Buster. In These Times, 34, 7+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5041402599
Robinson, S.N., & Nantz, D.P. (2009). Lessons to Be Learned from the Financial Crisis. Journal of Private Enterprise, 25(1), 5+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5037768696
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]
Two alternative solutions are available. The first sees that the U.S. federal authority uses the budget allocated to support the development of the national industries, without raising barriers to imports. The second possible solution is for the United States to strive to increase its exports by focusing more on international operations.
Criteria / goals
The evaluation criteria for the proposed solutions revolve around the benefits they generate, as well as the costs they imply. Otherwise put, the decision will be made in accordance with the arguments in favour and against each of the two alternatives, and by the solution's ability to meet the established goals. These goals include the insurance of economic stability within the United States (for all population, corporations and the entire system), the maintenance or even development of international relations, as well as the sustained development of the domestic industries.
Evaluation of alternatives
January 29, 2009, Buying American, the Economist, last accessed on February 5, 2009
Steps in the P.A.C.E.D. Model, the Gus a. Stavros Center for Free Enterprise and Economic Education
http://stavros.coedu.usf.edu/EconomicLiteracy/sld019.html. Ast accessed on February 5, 2009
Interestingly, it seems that this feature remains relatively constant regardless of the level of the socioeconomic spectrum. That is fascinating to anybody who comes from a foreign community where Americans are envied and believed to be so much more fortunate than many of us in the rest of the world.
Finally, in that regard, I also anticipate that studying the ethical issues and legal concepts that apply to economic practices, including the intersection between the private business sectors and government. From my perspective, it seems that there are many potential areas of study just in the manner in which the consumerism mentality in the U.S. fueled the housing market bubble and the ways that big business interests profited from those impulses at the macro level while, in effect, destabilizing the entire national economy. Likewise, at the micro level, there is much to learn from the practices of individual lending institutions…
My intended major is Economics, a subject in which I developed an interest in two very different ways. At the level of microeconomics, I have first-hand experience with the challenges of surviving alone in the United States as a self-dependent international student. On one hand, the U.S. offers many potential opportunities; on the other hand, economic survival for working students requires very responsible management of finances and resources. On the level of macroeconomics, I was both alarmed and fascinated by the manner in which the entire U.S. economy nearly collapsed in 2008, just as I was beginning to settle into life in the U.S. In addition to issues of the highly complex interrelationships among and between the business, investment banking, and housing sectors, the situation also highlighted important ethical issues that obviously must be addressed to prevent repeated economic catastrophes.
As a student of economics, I hope to develop a basic understanding of the classic fundamental principles in the field. However, I also hope to study some of the broader ways that economic issues affect and even shape contemporary human societies. Since coming to the U.S., I have learned that the American consumer economy is much more complex than I realized, especially in connection with the extent of consumer dependence on credit to fund higher lifestyles than might be sound economically. Interestingly, it seems that this feature remains relatively constant regardless of the level of the socioeconomic spectrum. That is fascinating to anybody who comes from a foreign community where Americans are envied and believed to be so much more fortunate than many of us in the rest of the world.
Finally, in that regard, I also anticipate that studying the ethical issues and legal concepts that apply to economic practices, including the intersection between the private business sectors and government. From my perspective, it seems that there are many potential areas of study just in the manner in which the consumerism mentality in the U.S. fueled the housing market bubble and the ways that big business interests profited from those impulses at the macro level while, in effect, destabilizing the entire national economy. Likewise, at the micro level, there is much to learn from the practices of individual lending institutions and real estate brokerages and their exploitation of individuals and families brought up on the American dream of home ownership. I hope that my introductory studies in economics will help me identify a more specific academic focus in an area that will allow me to establish a career, ideally in a field that might contribute to resolving some of the systemic economic problems in human societies.
Economic Value Added (EVA) Accounting Practice
Although Economic Value Added (EVA) is not a new concept in economics and financial theory and is based on the 19th century concept of "economic profit," it has only been widely adopted recently by business firms as an accounting practice. In this paper we shall describe what EVA is, and look at its pros and cons from the point-of-view of the company adopting the practice and the investors. We shall also discuss how EVA differs from some other emerging accounting practices and the major issues relating to EVA as compared to other commonly used accounting principles. Finally, the possible problems and opportunities that a company adopting EVA principles can face shall be examined.
What is Economic Value Added (EVA)?
Economic Value Added (EVA) is the after-tax cash flow generated by a business minus the cost of the capital it has invested to generate that…
Keen, Peter. (1999). "Economic Value Added.(EVA)" Every Manager's Guide to Business Processes. Retrieved on April 20, 2003 at http://www.peterkeen.com/emgbp007.htm kel inen, Esa. (1998). "Economic Value Added as a Management Tool." Retrieved on April 20, 2003 at http://www.evanomics.com/
Shand, Dawne. (October 30, 2000). "Economic Value Added." COMPUTERWORLD. Retrieved on April 20, 2003 at http://www.computerworld.com/managementtopics/management/itspending/story/0,10801,53001,00.html
Stewart, Bennet (1999) "What is EVA?" Stern Stewart & Co. Web site. Retrieved on April 20, 2003 at http://www.sternstewart.com/evaabout/whatis.php
This cost reflects both the time value of money and compensation for risk -- the more risk associated with a firm, the greater the firm's cost of capital.
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
Sorkin's book does a good job of giving the details on what happened among Lehman Brothers, Barclays, JP Morgan, Goldman Sachs, the Fed, and Big Gov following the collapse. Essentially, everyone had egg on his face -- but some of the bigger powers had the muscle to save face -- and sink competitors at the same time: which is exactly what Goldman Sachs did to Lehman. Goldman had been placing its cronies in the hite House for years -- and it would now go through the hite House to see who got bailed out and who did not. AIG got one -- because it owed a large chunk to Goldman (who had figured out the game ahead of time and started betting against itself by buying insurance through AIG). Sorkin's work is a work full of the kind of details that other writer's like Taibbi and Lewis do not take…
Lewis, Michael M. The Big Short: Inside the Doomsday Machine. New York, NY: W.
W. Norton & Company, 2010. Print.
Sorkin, Andrew. Too Big to Fail: the inside story of how Wall Street and Washington
fought save the financial system -- and themselves. New York, NY: Penguin, 2010. Print.
Economic crash can be viewed from a number of perspectives ranging from causes and effects to the 2008 Crash's resemblance to the Crash of 1929, which began the Great Depression. This paper will consider the 2008 recession from the standpoint of the financial banking industry, which, according to economic journalists like Matt Taibbi (2010), played a major and significant role in the crumbling of the nation's economy -- just like it did in the Lawless Decade also known as the oaring Twenties.
Big Banking Meets Big Government
What has now become known as the Era of De-egulation actually had its beginnings in the 80s decade known just as much for its rampant excess as the early 20s were known for their unbridled lawlessness. Yet, while the latter enjoyed the snubs-to-the-law bootlegging speakeasies, the former enjoyed the merging of the financial sector with the political -- which began during eagan's tenure…
AP/HuffPost. (2011). Charles Ferguson's Oscar Speech Rips Wall Street: 'Inside Job'
Director Levels Criticism During Acceptance. HuffPost Business. Retrieved from http://www.huffingtonpost.com/2011/02/28/charles-ferguson-oscar-speech-inside-job_n_828963.html
Sann, P. (n.d.). The Lawless Decade: A Pictorial History of the Roaring Twenties.
Retrieved from http://lawlessdecade.net/
Inevitably, the level of economic development has a direct contact with the marketing strategy of a company. Basically a company's marketing strategy is a mixture of three things which are distribution, promotion and pricing.
Companies usually make its marketing strategies according to the level of economic development in both the multinational and global context. For a developed country, the organizations have an idea that promotion and pricing strategies will be crucial for them merely to accelerate the level of their earnings. There can be a marginal difference between the standardized form of marketing and local method of marketing. Standardized form of marketing compel the organizations to facilitate the consumers in the same way as they wanted while the domestic marketing makes their own rules of entertaining the consumers, this is the main thing why the standardized form is more productive than the domestic form. Standardized form of marketing includes tailoring…
Economic Development, retrieved from < http://www.edrgroup.com/library/economic-development / >, Accessed on [7th April, 2011]
John, E (1999), Economic Development, John Wiley & Sons Professional Publications
Michael, P & Stephen, S (2009), Economic Development, McGraw Hill Publications
What is Economic Development, retrieved from http://www.valleycountyeconomicdevelopment.com/pages/what_is_econ.htm, Accessed on [7th April, 2011]
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…
Economic Development in Honduras: A Banana ar Legacy
An Analysis of Economic Development in Honduras from 1820 to Present
In many Latin American countries such as Honduras, the historical emphasis that has been placed on agriculture as a money industry for export purposes has resulted in the term, "banana republic" (Nash & Jeffrey 1994). Following their independence, most Latin American countries continued to depend on the export of raw materials for their revenue, rather than investing in an economic infrastructure that would provide value-added services, which only further contributed to this pattern of dependence on foreign states. This is largely what has taken place in the Republic of Honduras as well, and the country continues to suffer from sporadic and inequitable foreign investment, much of which has illegally diverted into private hands rather than infrastructure development. This paper provides an overview of the Republic of Honduras, an assessment of the…
Bates, Stephen. (January 8, 1999). Good friends slip on a banana skin. New Statesman,
Befus, David R., Debbie L. Mescon, Timothy S. Mescon and George S. Vozikis. (1988).
International Investment of Expatriate Entrepreneurs: The Case of Honduras. Journal of Small Business Management, 26(3):40.
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…
Little German Reform Would Go a Long Way" (Dec 1, 2003) Business Week. Issue: 3860; pg. 22. Retrieved from home.uchicago.edu/~gbecker / Businessweek/BW/2003/12_01_2003.pdf Accessed on 24 November, 2004
Economic Survey - Germany 2004: Main issues and policy challenges"
Retrieved at http://www.oecd.org/document/17/0,2340,en_2649_201185_33633425_1_1_1_1,00.html . Accessed on 24 November, 2004
Economy of Germany" Wikipedia, the free encyclopedia. Retrieved at http://en.wikipedia.org/wiki/Economy_of_GermanyAccessed on 25 November, 2004
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…
As a paid lobbyist of FedEx, I would like to see the government encourage more global trade. There are two reasons for this. The first is that global air trade is one of my company's most profitable services, and the other is that our revenues are tied closely to the state of the global economy. Trade agreements are a form of trade policy that enjoy broad Congressional support and are easier to implement than spending-related fiscal policy or monetary policy. Chiff.com (2012) notes that lobbying is the "process of petitioning the government to intervene in special causes. Aside from broad trade-related issues, FedEx could benefit from its ongoing classification as an airline, something that gives it special privileges compared with UPS, especially with respect to labor freedoms. Maintaining this flexibility and cost advantage helps FedEx and its competitors are trying to undermine this advantage.
Shalal-Esa (2009) notes that there…
Chiff.com. (2012). What is lobbying? Chiff.com. Retrieved June 9, 2012 from http://www.chiff.com/society/lobby.htm
No author. (2008). This house believes that elected representatives should not hold any additional posts while serving in government. IDEA Beta. Retrieved June 9, 2012 from http://idebate.org/debatabase/debates/constitutional-governance/house-believes-elected-representatives-should-not-hold-second-jobs
Shalal-Esa, A. (2009). How many lobbyists are there in Washington? Reuters. Retrieved June 9, 2012 from http://www.reuters.com/article/2009/09/13/obama-lobbying-idUSN1348032520090913
Eco Footwear & Repair
Our Shoes' have Souls
Eco Footwear & Repair -- Business Model Proposal
Proposed Export Location: Chile
Proponent: Maria G. Lozano
The many firms in the footwear industry operate with an unethical and unsustainable business model. They utilize foreign sweatshops that often employ child labor. Furthermore, the industry is notorious for promoting product obsolesces and the products end up in landfills well before the end of their useful lives. Our mission is to revolutionize the current industry norms by producing products that are both environmentally and socially sustainable.
Export Marketing Plan
Export Marketing Strategies
This project proposes to begin constructing the production facilities for Eco Footwear Repair. On a high level, the vision for the organization is to provide all the goods and services necessary to extend the useful lives of clients' shoes or footwear. This footwear…
America News. (2011, March 15). Business Growth: South America. Retrieved April 21, 2011, from News of America: http://amerivanews.con10.com/business-growth-south-america.html
Badame, D. (2001). Planet Reebok. Retrieved April 21, 2011, from Rogivue: http://www.rogivue.com/downloads/Planet%20Reebok.pdf
Golder, P., & Tellis, G. (2010). Product Life Cycle. Wiley International Encyclopedia of Marketing.
Pfeiffer, M. (2010, February 1). How CSR is seen in Chile. Retrieved April 21, 2011, from CSR360: http://www.csr360gpn.org/magazine/feature/how-csr-is-seen-in-chile/
Now that I have achieved many of the goals I had growing up, I know need to take the next step to becoming a global leader. The complexities of U.S.-Japan trade relations, and other trade relationships in the Asia-Pacific region, are where my future lies. I feel that with my dual country experience, I will be able to make significant contributions to the study and practice of economics in this field. What I have accomplished thus far in life supports this goal, and earning an economics education is the next step.
Prompt 2. My move to the United States has been a challenge for me. I have worked long hours to pay my international student fees. However, this experience has helped me to grow into a successful woman, able to manage any challenge. I arrived in the United States with international experience and strong English skills, but the differences in…
S. exports, but only reduced them, to increase imports from Mexico, to stimulate the opening of manufacturing plants in Mexico and to lead to the loss of jobs for the American population
Ultimately then, the free market is a beneficial theoretical model, but its practical implementation has only proven profitable for the corporations in the highly developed western economies.
3. Are impediments to economic and financial reconstruction worse in a particular region of the developing world?
The tumultuous world history has impregnated its effects upon all players. And these effects are multiple and depend on various other features. On the other hand, they can be used to explain the contemporaneous stages of economic development presented by each state. While some countries enjoy the benefits of high levels of economic growth and development, others still strive to make do. And the differences are not only obvious among the groups of developed,…
Collier, P., the Market for Civil War, Foreign Policy, 2003
Huntington, S.P., the Clash of Civilizations, Foreign Affairs, 1993
Llosa, M.V., the Culture of Liberty, Globalization at Work, 2001
Ottaway, M.S., Schwedler, J., Telhami, S., Ibrahim, S.E., Democracy: Rising Tide or Mirage? Middle East Policy, Vol. XII, No. 2, 2005
The number of educational institutions remained the same and child labor has also stagnated. Entrepreneurs were still allowed to employ children, which they did moreover when they paid them lower wages.
Just like with the Meiji Era, the British Industrial evolution opened new horizons and generated numerous development possibilities for the country and its population. The most important contributions were felt in the technological sector and materialized in a wide series of advancements. "It was not only gadgets, however, but innovations of various kinds -- in agriculture, transport, manufacture, trade, and finance -- that surged up with a suddenness for which it is difficult to find a parallel at any other time or place. The quickened pace of development is attested by the catalogue of new patents, the lengthening list of Acts of enclosure, the expanding figures of output and exports, and the course of prices, which, after remaining roughly…
Ashton, T.S., the Industrial Revolution, 1760-1830, Oxford University Press, 1997
Buer, M.C., Health, Wealth and Population in the Early Days of the Industrial Revolution, Routledge, 1926
Hunter, J., Institutional Change in Meiji Japan: Image and Reality, Routledge, 2005
Kinzley, W.D., Emperor of Japan: Meiji and His World, 1852-1912, the Historian, Volume 66, 2004
We don't look at their psychological well-being. it's almost as though, psychologically, they're a blank. And we know very little about the differences among black women. Some cope better than others. We don't know who they are, why they cope better, what resources they have access to. If we can understand that, then we can understand the needs of those who cope less well. What I am finding so far is that almost all the mothers in my study, when asked whether they would prefer employment to public assistance, say they would rather have a job. However, having a job is very difficult for this group of mothers because it is difficult for them to find and keep jobs that support them and provide adequate benefits. And there's another consideration: When we say we're going to put these women to work, what is it going to mean in terms of…
The Impact of the Welfare State on the American Economy (1995) Joint Economic Committee Study. December 1994. Executive Summary. Online available at http://www.house.gov/jec/welstate/vg-1/vg-1.htm
Paternal State, the Liberal State, and the Welfare State (nd) Online available at http://www.friesian.com/freestat.htm
Overview of the Nixon-Ford Administration at the Department of Labor 1969-1977 (1977) U.S. Department of Labor, Office of the Assistant Secretary for Administration and Managementy. 20 Oct 2007. Online available at http://www.dol.gov/oasam/programs/history/webid-nixonford.htm
Social Work Experts Predict: Disaster With a Ray of Hope (1996) Columbia University Record -- September 20, 1996 -- Vol. 22, No. 3. Online available at http://www.columbia.edu/cu/record/archives/vol22/vol22_iss4/Welfare_Reform.html
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
To that end, patients who opt to pay more are likely to have better access to treatment; meaning, essentially, that patients who choose to go with commercial healthcare providers will have more accessibility and better quality of treatment as opposed to those who depend upon CSM or the government. Patients who go with a commercial healthcare provider such as Fresenius, for example, may be paying considerably more than someone whose costs are financed by CMS or the government. However, that person will certainly be granted treatment (particularly if it involves dialysis), although the expenses will be considerable for medication such as erythropoietin. However, those who opt for CMS or governmental services have to cope with the fact that the former organization is treating fewer and fewer of its population for ESD, while those relying on the government may well see the effects of cost shifting. Those fortunate enough to in…
Milstead, J.A. (2007). Health Policy and Politics: A Nurses Guide. Burlington: Jones & Bartlett.
Summary: This paper examines the financial repercussions of providing health care services within the United States. Specifically, it analyzes information regarding reimbursement practices and quality of service to patients who have been diagnosed with End Stage Renal Disease. A number of options for treatment are elucidated in terms of their quality and cost, as the inherent tradeoff between accessibility to services and the price required to gain such accessibility that is endemic throughout the health care industry is significantly demonstrated.
Economic Forces and Health Care
Evaluation of Economic Forces and Impact on Health Care
This paper examines the impact of economic forces on the health care industry and health care management. According to Economy atch, the health care industry plays an important part in the country's economy. The health care industry determines the gross domestic product (GDP), exports status, employment, capital investment etc. The industry is likely to be dominated by continued expansion of demands in the market, increasing prices, and increasing awareness among customers, likely triggering a change in the industry for the better (Health Care Industry, 2011).
Industry analysts point to the healthcare industry as the one bright spot in an otherwise sluggish economy. According to the healthcare Financial Management Association (HFMA), the health care industry is creating new jobs, companies and markets. Job growth as the result of health care demands increased by 65% from 1990 to…
ACOEM Special Committee on Health, Productivity, and Disability Management. (2008). Healthy workforce/healthy economy: The role of health, productivity, and disability management in addressing the nation's health care crisis. American College of Occupational and Environmental Medicine. Retrieved July 10, 2011 from http://www.acoem.org/uploadedFiles/Healthy_Workplaces_Now/Healthy%20Workforce%20-%20Healthy%20Economy.pdf
Health Care Industry. (2011). Economy Watch. Retrieved July 10, 2011 from http://www.economywatch.com/world-industries/health-care/
Healthcare industry proves one bright spot in sluggish economy, research shows. (2011). Healthcare Financial Management Association website. Retrieved July 10, 2011 from http://www.hfma.org/templates/blogpost.aspx?id=27268
Kavilanz, P. (2011). Health care jobs a bright spot for hiring. CNNMoney. Retrieved July 10, 2011 from http://money.cnn.com/2011/07/08/news/economy/healthcare_jobs/
Why Do Consumers Make Irrational, Decisions?
In economics there is usually the underlying assumption that people who make choices will act in a rational manner, weighing up the costs and the benefits and determining a course of action dependent which choice provides them with the greatest benefit. The assumption may appeal to logic, and is seen in rational choice theory, but the reality is many consumers will not act in a rational manner, making choices that result disadvantages or costs rather than benefits. There are a number of influences which may explain how and why consumers do not always make the rational or optimal choices in economic terms.
One of the key aspects of rational choice theory, which dictates individuals will make rational choices are the underlying assumption that individuals making the choices will be in possession of perfect information regarding the choices and the potential outcomes, and that…
economics pricing system that allows smaller practices and organizations to buy and sell affordable prices is a must today. The use of technology to determine pricing strategys is prevalent in todays times. This can be illustrated with the following examples where companies have used technology to formulate their pricing strategy.
The pricing model for MDoffice offers an affordable entry price for smaller, less-demanding medical offices such as solo practitioners. These practices can extend their investment in MDoffice by easily moving from standalone PC's or laptops, to peer-to-peer networks, to sophisticated client/server installations involving LANs (Local Area Networks) and perhaps ANs (ide Area Networks). This easy migration from platform to platform can be accomplished in affordable increments.
The overall objective in all our pricing decisions is to offer great products at a fair price allowing our clients to get an excellent return on their investment and to have an affordable growth…
Economics for Business" by John Sloman and Mark Sutcliffe - Prentice Hall - ISBN 0-273-65187-0
However, EVA is neither as perfect as claimed by its advocates, nor is it the only performance measure that suggests a path to a superior stock return" (emphasis added) (p. 319).
More importantly, though, while the economic value added measurement approach to financial performance may not be without its detractors, the scholarly literature is consistent in emphasizing the need for such initiatives for companies to remain competitive in an increasingly globalized marketplace today. For instance, in his recent essay, "Profit-Increasing Strategies," Tracy (2006) reports that there are a number of ways for most companies to add value to their product or service. "There are many strategies for generating sales, profitability and wealth in every industry," he advises. "Your ability as an entrepreneur to create a profitable business where no business existed before is the key to your success. In every market, it's usually true that 20% of the businesses earn…
Brewer, P.C., Chandra, G., & Hock, C.A. (1999). Economic value added (EVA): Its uses and limitations. SAM Advanced Management Journal, 64(2), 4.
Chen, S., & Dodd, J.L. (1997). Economic value added (EVA Super TM): An empirical examination of a new corporate performance measure. Journal of Managerial Issues, 9(3), 318.
Fletcher, H.D., & Smith, D.B. (2004). Managing for value: Developing a performance measurement system integrating economic value added and the balanced scorecard in trategic planning. Journal of Business Strategies, 21(1), 1.
Mcmenamin, J. (1999). Management: An introduction. London: Routledge.
32). By contrast, PepsiCo benefitted from its wide product diversification. PepsiCo's product line includes popular snack names, while Coca-Cola has stuck to beverages. That has given PepsiCo the lead in overall sales, $43 billion to $31 billion in 2009 (see Dlugosch, 14 April 2010, p. 1). Question 4: Both companies' vertical involvement in their main global markets was determined by the consideration that contracts between soft-drink concentrate producers and bottlers allow the bottlers to have the last say in retail price, new packaging (but they could use only authorized packaging), selling and advertising in its territory (Martin, 26 March 2004, p. 5). This often causes strain on the relationships between bottlers, that very often are unable to produce and sell in large volumes, and the concentrate producer (Martin ibid). To accelerate revenue growth and be more agile and flexible both companies engage in vertical involvement in their main global markets…
Ali, T. (26 February 2010). The Coca-Cola Company to buy Coca-Cola Enterprises: Vertical Integration Continues. 1-4. Accessed 6 December 2011.
Badal, A. Coca Cola Company (2007). 33-40.
Please insert missing publication data.
The question is, how does one decide which path is more beneficial?
John Stuart Mill in Utilitarianism in the Philosophy of J.S. Mill, raised similar concerns when he stated:
"…any, even unintentional, deviation from truth does that much toward weakening the truth-worthiness of human assertion, which is not only the principal of all present social well-being but the insufficiency of which does more than any one thing that can be named to keep back civilization, virtue, everything on which human happiness on the largest scale depends" (p. 349).
Considering that human happiness is a subjective commodity that varies for every individual in its "truth," then whether or not one perceives the mommy track trend to be in line with utilitarian principles ultimately depends on one's personal definition of the greater good. From the utilitarian perspective (i.e. Mill), the wishes of the individual must be forsaken for the long-term "big picture."…
Mill, John Stuart ed. By M. Cohen, Utilitarianism in the Philosophy of J.S. Mill, New York: The Modern Library, 1961. Print.
Morgan-Steiner, Leslie. "Going Places on the Mommy Track" the Washington Post. Web. 29 April 2010.
Palmer, Kimberly. "The New Mommy Track." U.S. News and World Reports (26 August, 2007). Web. 26 April, 2010.
Shaw, William H. Business Ethics. Wadsworth Publishing, 2007. Print.
It might seem more economically beneficial for the company to store a maximum of only twenty bags of flour, as this is the minimum amount that the company needs to receive from the distributor in order to receive the discount, but this would not leave them any safety supply. With twenty-four bags of flour stored at a maximum, the bakery will have four extra bags of flour -- two days' worth of inventory -- on hand at the time of scheduled deliveries. This will allow them to continue operations for two days even with an interruption or delay in the delivery of the flour.
Establishing leadership teams for each department and/or office of a given company whose members are selected particularly for their cultural diversity (as well as other necessary leadership qualities, of course) would be an effective way for any company to handle the changes in the workforce…
When reading memoirs of terrorists for instance, I have often found that many terrorists fervently believe in what they are doing and think it beneficial for their soul. hey have been brought up in a culture -- such as in Korea, or in the former Soviet Russia, and consider themselves the truly knowing person, and the other who has been duped.
his reminds me too of memoirs that I have read of people suffering from bipolar or who have been declared insane. Oftentimes, these patients, particularly the latter consider themselves 'normal' and surrounding people to be abnormal. he question then is one that hinges on the definition of abnormality. A person in one society may be considered 'normal'; in another society this 'well-functioning', 'normal' person may be rated an outcast and considered 'aborning'. he problem it seems to me comes about when the person is following customs and norms that…
This is where I see my-confirmation as being the most major -- since it is the most significant -fallacy.
Flanagan, C. (2012) Girl land. Brown & Co. USA
The newly independent states were generally rated according to high level of political, economic or social risk (not entirely untrue), which meant that the levels of interest were generally extremely high. Even more, the sums paid for interest would generally surpass the actual funds that had been received. This meant that, instead of focusing the country's resources on development and internal projects, most of it had to be spent paying off debts which were not even viable and extremely costly.
On the other hand, from an international perspective, international debt is something fundamentally essential to the financial markets. Money is made to circulate and move around, which means that entities need to be connected to the financial markets, borrow on the open markets and use that money to create added value and generate more cash flow. The fact that, in many cases in the developing world, this mechanism was in…
1. Perkins, John (2004). Confessions of an Economic Hitman. Berrett-Koehler Publishers.
2. Herz, Noreena. The Debt Threat: How Debt is Destroying the Developing World. Democracy Now! January 2005.
3. Strange, S. (1986) Casino Capitalism, Oxford, OUP
4. Block, F. (1997). The Origins of International Economic Disorder.
The article concedes, however, that declining business confidence is an absolute danger that must be dealt with and the government not being an active partner with businesses and in favor of the recovery will just make things worse (Pollin, 2010).
A similar point is made in a different article that states that the role of fiscal policy in pushing an economy towards recovery cannot be over-estimated or over-analyzed because of the vital role fiscal policy plays in said recovery. The article notes that the impact (or lack thereof) of programs like Temporary Assistance to Needy Families (TANF), Medicare, tax credits, Social Security, direct subsidies, unemployment insurance and such are often included in any analysis of fiscal policy but it also noted that many parties that look at this topic glaringly omit are transfer payments and other assistance paid directly to financial institutions (Tcherneva, 2012).
This perhaps became a much less…
2012 Forecast: Recovery…or Recession?. (2012). Financial Executive, 28(1), 21-23.
Auerbach, a., Gale, W., & Harris, B. (2010). Activist Fiscal Policy. Journal of Economic
Perspectives, 24(4), 141-164. doi:10.1257/jep.24.4.141
Baily, M., & Lawrence, R.Z. (2004). What Happened to the Great U.S. Job Machine?
Private Sector Investment and Economic Development
Investment and economic development
The ole of Private Sector investment in Economic Development
In the past few decades there has been overwhelming support for growth and development rooted in private investments and market-oriented strategies. A move from public sector driven growth has come as result of the need to reduce the widening gap in the balance of payment account, increasing public debt, rising inflation rate, growing foreign debt fundamentally falling living standards. There has been a shift from the need for large public corporations undertaking productive activities in an economy owing to the realized inefficiency in resource allocation. Corruption and misappropriation of public funds is observable owing to the lacking need to optimally reap benefit from the investment. Unlike in the public sector, private sector investment guarantees optimal productive activities, efficient allocation of productive resource, technological advancements to reduce cost and increase productivity (Dao,…
DAO, M.Q. 2008. The Impact of Investment Climate Indicators on Gross Capital Formation in Developing Countries. The Journal of Developing Areas, 42, 155-163.
GROSSMAN, G.M. & HELPMAN, E. 1994. Endogenous innovation in the theory of growth. Journal of Economic Perspectives, 8, 23-44.
HARRISON JR., W., HORNGREN, C.T. & WILLIAM, C.T. 2012. Financial accounting 9th edition., U.S.A., Prentice Hall
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Endowment Theory (Hecksher-Ohlin-Samuelson) account North-South economic relationships? Illustrate point(s)
Generally speaking the world is economically divided into two blocks; North and South. North is characterized by stronger, more stable and powerful economies whereas south constitutes the less developed, weaker nations. 1 One of the popular economic arguments is that although North encompasses the major economies of the world which dominate the important institutions but South cannot be overlooked as it consists of the bulk of inhabitants. The world cannot ignore the importance of south due to certain emerging powers of the North like China, Brazil, and India. However, in this radical world where every state is independent and there is absolutely no self-governing power keeping an account of the governments, the hegemonic, influential and powerful countries similar to the United States of America (USA) will not ever leave their central place in the world.
The bargaining power of the countries…
Helpman, E. (1984). A simple theory of international trade with multinational corporations, The Journal of Political Economy, vol. 92, Issue 3. Pp. 451 -- 471, retrieved March 16, 2011 from http://www.jstor.org/stable/1837227
Markusen, J.R. (2000). The theory of endowment, intra-industry and multi-national trade, Journal of international economics, vol. 52, Issue 2, pp. 209-234, retrieved March 16, 2011 from http://linkinghub.elsevier.com/retrieve/pii/s0022199699000550
Markusen, J.R.(1995). The boundaries of multinational enterprises and the theory of international trade, The Journal of Economic Perspectives, Vol. 9, Issue 2, pp. 169 -- 189, retrieved March 16, 2011 from http://www.jstor.org/stable/2138172
"A basic principle Economics comparative advantage: a country produces goods producing, bad. The traditional story includes relative endowments capital labor, capital intensity goods matters. Now add environmental externalities.
Comparative advantage in emissions trading: The environment and economics
Although it was not signed by the United States, at the time of its drafting, the Kyoto Protocol was considered a major advancement in attempts to curb global warming by limiting emissions. However, the international agreement also brought the controversial practice of emissions trading of pollutions credits to the forefront of the concerns of the world environmental movement. "Emissions trading, as set out in Article 17 of the Kyoto Protocol, allows countries that have emission units to spare - emissions permitted them but not 'used' - to sell this excess capacity to countries that are over their targets" (International emissions trading, 2013, Kyoto). In other words, 'cleaner' nations could sell their…
Emissions trading. (2013). ITEA. Retrieved from: http://www.ieta.org/emissions-trading
International emissions trading. (2013). Kyoto. Retrieved from:
Ramsey, M. (2013).Tesla earns $40 million selling pollution credits. The Wall Street Journal.
interventionism from the perspective of realism vs. idealism. Realism is defined in relationship to states national interests whereas idealism is defined in relation to the UNs Responsibility to Protect doctrine -- a doctrine heavily influenced by Western rhetoric over the past decade. By addressing the question of interventionism from this standpoint, by way of a case study of Libya and Syria, a picture of the realistic implications of "humanitarian intervention" becomes clear. Idealistically, humanitarian interventionism is a process that stops atrocities and establishes peace and prosperity. Realistically, interventionism allows Western businesses to reap the spoils of destabilization -- as has been seen in Libya with the Libyan oil fields being claimed by Western oil companies -- and as is being seen in Syria, with the threat of invasion bound to have detrimental effects on the construction of a new pipeline that bypasses the Turkey-Israel pipeline. Syria also presents itself as…
'Violent chaos': Libya in deep crisis 2 years since rebels took over', 2013, RT, 26 Aug.
Available from . [24 Aug 2013].
Weiner, T 2008, Legacy of Ashes, Anchor Books, NY.
Salem and the surrounding Essex County (the witch hunt itself went beyond merely Salem) (Norton; Linder) viewed the results of the First, and now the Second Indian ar, and their own loss of material prosperity from these wars, as God's punishment for their sins (Norton). It was at about this time that several of Salem's teenage girls began having fits on which they (and their parents and others) blamed the devil, witches and Indians (Norton). hen the mysterious fits began, according to Norton, Salem and Essex County Puritans started believing that now both visible spirits (i.e., Indians) and invisible spirits (i.e., the devil) were punishing them, simultaneously (Norton). Consequently, given this grim community mood, the politically-appointed judges took seriously the (often-unreliable and inconsistent) testimony of a group of similarly "afflicted" teenagers in order to then put dozens of supposed witches on trial. As Norton further suggests, the Salem judges and…
Linder, Douglas. "The Witchcraft Trials in Salem: A Commentary." Famous
American Trials: Salem Witchcraft Trials 1692. Retrieved May 22, 2006, at http://www.law.umkc.edu/faculty/projects/ftrials/salem/SALEM.HTM.
Morgan, Edmund. The Puritan Dilemma. New York: Longman, 1998.
Norton, Mary Beth. In the Devil's Snare: The Salem Witchcraft Crisis of 1692. New York: Knopf, 2002.
Santerre and Neun
a) What are the three legs of the medical stool? Explain how trade-offs might take place among the three legs.
The three legs are cost, quality and access. Trade-offs take place among the three legs in the sense that sometimes cost might be high, but quality and access will be better. Or access might be good and cost low, but quality might suffer.
It all depends on the situation of the patient and the nature of the provider. The ideal situation is that all three legs of the medical stool are supportive of both patient and provider needs -- but that is not always the case.
b) What are the four basic questions and how do they relate to the concepts of productive and allocative efficiency?
The four basic questions are:
What mix of nonmedical and medical goods and services should be produced in the macroeconomy? 2.…
economic and financial crisis (2008-2009), the Federal Reserve took exceptional measures in order to combat the effects of the crisis on the American economy. These measures translated into an expansionary policy that included pumping money in the economy and purchasing assets that were in trouble. Through its expansionary work, the government was able to balance some of the effects of the crisis.
The question that seems to be on everybody's mind (and lips) today is where does it all end? One thing everyone can agree on is that this type of expansionary policy cannot last forever. The United States economy functions as a free market economy where the laws of supply and demand govern the realities of the market. A continuous and permanent intervention of the Federal Reserve is neither possible, nor healthy. What nobody can agree on, however, is when the expansionary approach should stop: now, in the near…
1. Krugman, Paul. The Conscience of a Liberal. The New York Times. November 2013. On the Internet at http://krugman.blogs.nytimes.com/2013/11/25/nowhere-near-the-exit/ . Last retrieved on December 13, 2013
2. Mankiw, Gregory. In Fed Policy, the Exit Music May Be Hard to Hear. The New York Times. November 2013. On the Internet at http://www.nytimes.com/2013/11/24/business/in-fed-policy-the-exit-music-may-be-hard-to-hear.html?_r=0 . Last retrieved on December 13, 2013
3. Spicer, Jonathan, Lange, Jason. Fed officials signal next policy battle: rate guidance. Global Post. On the Internet at http://www.globalpost.com/dispatch/news/thomson-reuters/131121/fed-officials-signal-next-policy-battle-rate-guidance . Last retrieved on December 13, 2013
4. Expansionary Policy. Investopedia. On the Internet at http://www.investopedia.com/terms/e/expansionary_policy.asp . Last retrieved on December 13, 2013
This is circular logic that appears to dehumanize our freedom and minimalize our existence. The atomization of the responsible self is unimaginative and restrictive, I'll choose something else to listen to if I have a choice.
Work itself is exploitative in nature. Only when a person can work for himself or herself can exploitation be limited to being self-imposed. Labor and work do not belong to anyone, they are mere expressions of idea, to claim them as a tangible thing is confusing and appears to have a disingenuous motive.
Perfection is in the eye of the beholder and even though there are characeristics of a perfect market such as large amounts of buyers and sellers and a shared responsibility, there is undoubtedly some flaw within the system. Perfect markets would require no exchange of money, only ideas as money itself is a market within itself causing…
economic data that has been released in 2005 are somewhat contradictory, but the general impression is that the U.S. economy is managing a strong and sustainable growth. Indeed, the report published on January, 18th 2005 showed investments in U.S. assets of around $81 billion for November 2004, more than enough to finance and fund the current account deficit of $60 billion.
In terms of weaknesses, we need to mention the enormous trade deficit and budgetary deficit that the U.S. is currently encountering. These deficits have diminished confidence in the dollar, as its strong descent over 2004 has shown.
As any measure in time of economic growth and growing demand, the officials should now be concerned on policies meant to stabilize and prevent any inflationary factors. One such policy is increasing the interest rates and the Federal Reserve has already taken specific measures in this sense, increasing the rates to 2.25…
1. Snow: Bush will trim U.S. spending. December 2004. CNN World Business. On the Internet at http://edition.cnn.com/2004/Business/12/20/us.budget.snow/index.html
2. Wolfe, Elizabeth. November 2003. Botswana-AIDS. Associated PressOn the Internet at http://www.achap.org/press/botswana_aids.htm
Snow: Bush will trim U.S. spending. December 2004. CNN World Business. On the Internet at http://edition.cnn.com/2004/Business/12/20/us.budget.snow/index.html
Wolfe, Elizabeth. November 2003. Botswana-AIDS. Associated PressOn the Internet at http://www.achap.org/press/botswana_aids.htm
economics problems from a broader perspective, we need to apply macroeconomic principles. These principles help in understanding collective problems that various industry or countries are encountering and the role government can play in this connection. The paper studies current economic problems in the Transportation sector and explains how levels of supply and demand affect the demand curve.
MACOECONOMICS AND TANSPOTATION SECTO
Macroeconomics deals with economy on a larger scale and studies the principles of economics as they pertain to the whole industry and not just one firm. This helps in understanding national economic problems of inflation, unemployment, slow GDP growth, lower productivity etc. Therefore it is important to apply macroeconomics principles when we want to study and understand the problems being encountered by any economic system. For example in these days of slow growth, we notice that United States economic problems can be better understood in the light of macroeconomics…
Definitions of Economics, http://www.cr1.dircon.co.uk/TB/1/1.1.1.htm
Justin Fox, What In The World Happened To Economics? Fortune, 03-15-1999, pp. 90
It is worth noting that two economic consequences are likely to occur, particularly in the event of a V-shaped recovery. The first is that the Federal Reserve is going to wait to increase rates until the last possible moment, in the hopes of spurring greater investment and therefore job growth. This means that inflation is expected at some point this year. This inflation means that factor inputs will increase in cost. Larson can gain advantage over competitors if it can hold its wholesale cost stable in the face of an increase in the cost of factor inputs, since competitors may be forced to increase their prices. Careful control over its cost structure will allow Larson to do this while maintaining profitability.
Another potential economic consequence is a decline in the value of the Euro. Normally, Larson exporting products from America to Germany would be fairly easy given Germany's current account…
CNN. (2010). Battle for downtown Bangkok hits economy. CNN. Retrieved May 15, 2010 from http://edition.cnn.com/2010/Business/05/14/battle.bangkok.economy/index.html?hpt=T1
Kirschbaum, E. (2010). Euro in danger of becoming unstable. Reuters. Retrieved May 15, 2010 from http://www.reuters.com/article/idUSTRE6150N020100206
Federal Reserve Bank of New York. (2010). Federal funds data. Federal Reserve Bank of New York. Retrieved May 15, 2010 from http://www.newyorkfed.org/markets/omo/dmm/fedfundsdata.cfm
BEA (2010). Personal income and outlays, March 2010. Bureau of Economic Analysis. Retrieved May 15, 2010 from http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm
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…
(Major Schools of Economic Thought) This theory was born from the crucible of a Great Depression and a orld ar. Chicago theorists vehemently disagreed. They made the argument that the wealth of nation's increase when the market is allowed to naturally price goods and services. Spending would unnaturally change the prices of these goods, thus changing the reaction of the market to the goods, causing a misallocation of wealth or goods.
According to the Chicago theorists, the role of a government was to make sure individual rights were not trodden upon during market interactions and to mitigate the damage of neighborhood effects. Neighborhood effects are defined by Milton Friedman, the godfather of Chicago Economists, as when, "the action of one individual imposes significant costs on other individuals for which it is not feasible to make him compensate them or yields significant gains to them for which it is not feasible…
Friedman, M. (1955). School Choices. Retrieved June 25, 2010 from the ROLE of GOVERNMENT in EDUCATION: http://www.schoolchoices.org/?roo/?fried1.htm.
The Federal Reserve Bank of San Fransisco. (2010). Retrieved June 25, 2010 from Major Schools of Economic Theory: http://www.frbsf.org/?publications/?education/?greateconomists/ ? grtschls.html#a8.
Monopolies and Trusts:
Appropriate Areas for Government Intervention?
Capitalism is the economic system that has dominated the United States virtually since the day of its independence. A social and economic system based on the recognition of individual rights; capitalism demands that owners' rights to control, enjoy, and dispose of their own property must be respected. In a capitalist system, the purpose of government is to protect individual economic rights, and to make sure that no one individual, or group may employ physical or coercive force upon any other group or individual. The success of capitalism is well evident. The surpluses that this system produces have enabled individuals to experiment; to create new products, and market new ideas. These private surpluses are traded in a free market in direct competition with other buyers and sellers. Such competition is best represented by the efforts of two or more parties acting independently to…