Krugman College Essays Samples For Students

On May 4, 2016, the New York Times printed an article by Paul Krugman in which he posited his opinion on Real Exchange Rates and European Adjustment. The author pondered initially what the correlation between real exchange rates and trade adjustment would look like. His question arises from common criticism he hears, that devaluation of the local currency either has not worked or is not needed. Krugman then shows a graph (see Appendix) which clearly displays that Ireland, Greece, Portugal and Spain (countries that have experienced currency devaluation) have experienced a higher change in the current account than European ...

The topic of telling whether there are similarities or differences between Japan, Korea, and China is very broad. There are notable differences between Korea, Japan, and China, but my major interest is on the similarities of these countries. This is because the countries have a lot of similarities which completely out way the slight differences noted. Therefore, my analysis is based on the similarities that exist between the three countries. There are a variety of differences and similarities that could be clearly cited between Japan, Korea, and china. All these similarities and differences could be perceived as three different societies or ...

The United States in the eyes of Europeans was an amazing country where democracy prevailed, instead of a monarchy, with no division into classes. In the United States, there was the freedom of conscience and tolerance. Thus, Americans have unprecedented freedom for the rest of the world. At that time of the Golden Youth and Great Gatsby the American Dream arose. It had its causes and long-lasting effects. The essay is going to discuss what is the American Dream and what cause-effect relationship does it have today.
First of all, it is important to understand in full the meaning ...

Thesis statement

Although for the duration of their existence sweatshops have had their economic benefits felt by the locals in the areas of establishments, their negative influence is far reaching and appalling. The evidence of how workers are mistreated in the workshops and subjected to working in environments whose safety is below standard can be deduced from the numerous accidents and deaths taking place in the workshops

A summary of Paul Krugman’s case for cheap labor

In his article “In Praise of Cheap Labor: Bad jobs at bad wages are better than no jobs at all,” Paul Krugman tries to explain how cheap labor has benefited the developing economies. This ...

Prisons, Privatization, Patronage

Summary
In June of year 2012, the New York Times has reported certain terrifying news about the system of New Jersey for halfway houses, which privately manage appendages to the regular prison system. The course is a form of analytical reporting that everyone should view, and the course should also be viewed in context. The horrors identified are part of a wider pattern, wherein essential roles of government are being both degraded and privatized.
This article described the news as a terrible story. However, people should see this news in the deeper context of a force nationwide on the part of ...

The American dream idea has received numerous definitions and perceptions, but predominantly lies in attaining high income, economic security and acquisition of prestigious jobs. There have been many people around the globe who have immigrated to the America seeking for success. The American dream, however, entails a wider perception rather than economic well being of the people. However, various authors express that the American dream has further been fantasized by the people as it has been taken to mean something excellent, which is far from being excellent. This has been due to the increasing income disparity between the poor and ...

According to Professor Edith Kuiper, the history of economic thought deals with different theories and thinkers in a subject that became economics and political economy since the ancient days to present day. It involves many schools of economic thought. In the recent past, scholars such as Thomas Aquinas said that it was the obligation of many businesses to sell their products at reasonable prices. The earliest discussions of economics are in the ancient times, and from that time till the industrial revolution period, economics was not just a separate discipline but a part of the philosophy (Henderson, 28).
Plato’s book ...

Globalization is a complex process, the consequences of which cover political and legal, economic and cultural spheres of society. This process causes the extensive discussions in the various expert communities and among the common people (Keegan and Green 47).
In the politico-legal sphere, globalization is expressed in strengthening the role of international organizations, which standard-setting activity shifts the focus of many legal regulations of public relations from national into international legal plane. At the same time, spreading to areas previously traditional for the national legislator, the international law is unable to be the guarantor of lasting peace. The globalized ...

Final Assignment (Microeconomics)  

Consumer goods are products purchased to meet personal needs of consumers, family and household consumption. Consumer products with regard to the nature of consumption (the degree of durability) can be durable goods (i.e. used for a long time (cars, refrigerators, cell phones, furniture, TV sets)); and non-durable goods (i.e. consumed immediately (bread, cigarettes, drinks) or in divided doses (soap, toothpaste, washing powder), including disposable goods (once consumed) and services (the object of sale in the form of actions, benefits or satisfaction)) (Krugman and Wells, 2012).
Consumer goods cannot be used for industrial production, since they do not have the ...

English

The relationship of war and the economy is a fundamental interconnection of science. The course and outcome of the war, the victory or the defeat of the state are determined by various factors, among which economic factor is crucial. Economics of a country has a decisive influence on the course of social progress and it defines the development of the country no matter how influential the political and other factors are.
In this essay, we will try to answer one of the most anticipated questions: ‘What the money is used for?’. That is why for you to understand the ...

Credit rating of a country is mainly the ability of a country to repay the loans that it borrows both domestically and from other countries. It is mainly determined by the economic conditions that are prevailing in the country at a certain time. There are other factors that affect the credit rating of a country. This research paper will evaluate the credit rating of South Africa. The research will evaluate the cause of the current credit rating of South Africa and its effects to the country in various sectors of the economy (KRUGMAN, 2009).
South Africa is a country that has a very good ...

A price ceiling is a form of price controls by the government used as an implicit tax on the producers and a subsidy to the consumers. It is a "maximum price that can be charged by any producer or seller as a result of government directive or intervention" (Krugman, & Wells, pg. 84).
The equilibrium price for a commodity will be determined by the market forces where there are no government interventions. This equilibrium price is sometimes deemed above board, hence the need for regulation. Regulation may also be due to a social need for instance to make a product available to the poor. Our case ...

1. The fuel industry in California cannot run without gasoline as the main energy resource. The moment when refinery and pipeline mishaps raised the wholesale prices to their maximum, the gasoline stations could not operate their business properly. Most of the experts explain this sudden price increase with the power outage of the state’s 14 refineries which produce the state’s cleaner-burning gasoline for the local stations (White & Castellanos 2). In addition, there was also a fire at Chevron Corp.’s Richmond refinery, which led to the temporary fall of one more fuel production enterprise in the state ( ...

Introduction

The European Union is the result of the flow of economic integration in the world. It was created in 1958 and became a powerful economic group. Within the framework of the Union, the benefits of mutual trade are established, the general economic policy is carried out, and restrictions on the movement of goods, capital, and labor are constantly removed (Krugman, Obstfeld, and Melitz, 2014).
The creation of the EU was due primarily to the fact that in Western Europe after the Second World War, the contradiction between the international character of modern production and the narrow national and state ...

1. The Financial Crisis: Avoidable but Inevitable
Theoretically, the financial crisis could have been avoided as investigation findings revealed . Under the circumstances however, the crisis was an inevitable consequence of everything that was going.
The Federal inquiry concluded that the 2008 financial crisis could have been avoided. The crisis was the result of “widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street”. It was the result of “greed, ineptitude or both” on the part of government and the private sector.
Among the persons found responsible for the crisis included Federal Reserve Chairman Alan Greenspan and, ...

Essay one (China’s financial system)

Introduction and Thesis Statement
The restoration of an economy from a depression requires a careful adoption of strategies. Various measures that governments use to promote the growth of key sectors as wells the entire economy have severe outcomes which must be considered before they are put in practice. Fundamentally, governments implement different fiscal and monetary strategies to solve economic problems, which may be successful or not. Thus, the analysis of the strategy to be deployed becomes essential to achieve the desired objectives. The financial sector in an economy is of central importance. As such, public policies that impact on ...

Macroeconomics can best be explained as the general study of behaviors, structure, and decision- making and performance dealings; summing up the economy as a whole. Macroeconomics determines price level, inflation, changes in unemployment and the general output or income for a particular country’s economy (Krugman, 2011,).
The effects on a county’s macroeconomics activities can be either positive or negative. This depends on the economy's current state and the government initiative to control the economic activities to avoid cases of say unemployment and inflation. Too much money in circulation increases the purchasing power of individual citizens, but at ...

1. What is Civil Disobedience? How did Thoreau utilize this process? What was he protesting against? What is his critique of American society? How was his idea practiced in other movements?
Henry David Thoreau asserts that people should not allow the government to atrophy and overrule their conscience. The government has to govern the least. In fact, a government that does not govern at all tend to be the best (Thoreau 99). Civil disobedience refers to nonviolent resistance and the need to prioritize personal conscience over what is dictated by law. In most cases, civil disobedience entails active and ...

International trade

Technology is a critical factor in production and international trade. The competitiveness of a country correlates with the level of technological development. Posner’s technology gap model explains the trade that exists between an innovative country that comes up with a new technology and the country that imports products from the innovative country. According to Posner, a country that has a technology lead will benefit from international trade so long as it keeps the lead. Due to the economic differences between countries, technological advancement and product innovation do not take place simultaneously in countries (Krugman & Obstfeld, 2012).
Innovative countries enjoy quasi-monopoly benefits in ...

Abstract

Equal Opportunity is the right of every human. Every person enjoys the right to equal representation in all walks of life and is liable to legislation if these rights are oppressed. Equal Employment Opportunity is a concept based on equality rights at the work place. Equal Employment Opportunity Council is the governing body that assesses the rights of an individual at the work place. The following article is discussion of EEO laws and procedures recommended by the EEOC for individuals to protect their rights against discrimination at the work place.
Keywords: disparate, equality, representation, laws

Introduction

All humans are born ...

Factor-Endowment Theory

This theory is also known as “Heckscher-Ohlin Theory. It is a theory of international trade. This theory is projection of the classical view. The main point of focus of this theory is the comparative advantage and its different patterns. This theory proposes that the comparative advantage is due to the differences in the factor endowment. This theory has gained much familiarity from the mid of the twentieth century to the end of the century. It is still center of the attention but faces a lot of criticism as well (Rich, 1992)
The amount of labor, capital, land, entrepreneurship and other ...

Whenever I want to understand a phenomenon well, I go to the cause of that particular phenomenon. I appreciate the fact that our past has a significant bearing to where we are now and our future destination. Some people argue that it is the present and the future that counts and not the past. As much as that may make sense, it also true that our past helps us learn a lot and do better at present and also in the future. Around fifty years ago, several countries in Africa and Asia had almost the same GDP. At present, some of the ...

Throughout the history of any nation, there are general processes, concepts, and events that occur that cause it to develop across time (Friedman). Thomas Friedman discusses such concepts in his book The World is Flat. The current state of the world is better understood through the analysis of world history. Influential concepts that have contributed to the modern world include nationalism, industrialization, flattening, and globalization (Stiglitz; Rodrik). Each of these concepts greatly impacted nations, and in turn, how the rapidly and efficiently each nation entered the globalized world. China, in particular, is an interesting example as a nation was one ...

Abstract

This article aims at analyzing the political economy of communications and the consciousness of industry approach. It further examines the US class structure and its control of income and wealth using Domhofff’s framework to discuss how Big Media and Big Business make use of the government to promote and shape all the relevant public policies which promote all their short-term interest.
- Jhally’s Argument about the Purposes of Media Today in Maintaining Shared Ideological Consensus in the General Public

Introduction

The political economy perspective is of much importance in the structure and process of communication. A great ...

The current macroeconomic situation in the United States is both unemployment and inflation. Over the years, the United has sought to protect small businesses against high government taxes. This has been done with the aim of making sure that small business flourish and to allow room for individual innovation and entrepreneurship. In the process of reducing taxes for small businesses the US government has increased taxes for big companies. This means that the cost of production for many large corporations in the United States has increased steadily over the years. In order to remain in business many big corporations ...

Introduction to Exchange Rate Determination

Determination of the exchange rate in economics has been one of the major practices in economics that has attracted diverse views. Various theories have been developed to explain the determination of the exchange rate in various schools of thought. The monetary model has been one of the earliest models used in the of the exchange rate determination. However, it provides a good benchmark of comparing other models of interest determination. In addition, the model plays an imperative role in developing insights of capturing long trends. In the monetary model exchange rate are determined through the forces of demand and supply. ...

MONEY AND BANKING

The Coca Cola is a public company that was founded by Asa Candler in 1892 (Murden, T. 2005). This beverage manufacturing company whose head quarters are based at Atlanta, Georgia is quoted at the prestigious New York Stock Exchange. As a multinational, it operates in over 200 countries. This seems lucrative making it get annual revenue of US $. 35.119 (2010).
As a result of the transitional trends in the global market, this company has been heavily affected by the international policies regarding the operations of businesses. These are policies that have been formulated by the United Nations (UN), international trade organizations, ...

American Public University

Many of the economics books inform us that perfect competition is better than uncompetitive markets because it enables the markets to use the resources efficiently. In the perfect competition markets, producers give importance to decrease costs and increase the quality of products because the market price is given and their profits are limited with this given price while, in the uncompetitive markets, the companies play a game to maximize their profits theoretically. Monopoly is the worst version of the uncompetitive market because there is one dominant company in a market and the entry to the market is not possible. ...

The ‘paradox of thrift,’ in essence, is the concept in which people inherently value being thrifty during economic recessions in order to not overspend, but this paradoxically leads to lower economic growth because people are spending less (Krugman, 2009). It is an important attribute to Keynesian economics, and it essentially calls into question the inherent virtue of saving as an overall good. When we have less money to spend, it is thought to be a good idea to avoid overspending and save money, since you need to save it for more important things. However, if enough people do that ...

The issue of the pollution of the environment has been an issue that has always been addressed in different forums. This is mainly due to the fact that the continuous pollution makes the world less inhabitable for man. Pollution may be on different components of the earth; from water, to air to the ground itself. Various mechanisms have been developed as a way of ensuring that we are able to conserve the environment (Shaw 14). These may include measures like ensuring that the citizens use biodegradable products in order to prevent the instances of soil pollution, or ensuring that ...

It is the duty of each and every person to take care of the environment and further to have in place an environment that will enable the world regenerate and in turn be favourable for the day to day living of man today and the future. Various measures have been put in place in order for this to happen. These include the coming up with the bio-degradable products and further, to look for the alternative sources of energy that reduce the amount of harmful emissions. One of these methods is the coming up with the green cars which are ...

Part one solution

Ford Motor Company is an American multinational company that manufactures and sells automobiles, and recently it indulged in the production of motorcycle engines.
A general environment refers to the elements existing within the society which impacts organizations and firms that operate within a given industrial segment. These elements cannot be directly curbed by the management of a company. Global segments, technological, sociocultural, legal, political, and demographic segments make up the general environment. The demographic part represents the population characteristics of a given geographical area, province, as well as a nation in the world. Also, the segment is inclusive of ...

Abstract

The use and interpretation of economic policies are fundamental to the formulation of strategic plans and courses of action. Economists and policy makers play a vital role in executing this important analytic and interpretive task. Keynesian and monetary schools of thoughts are some of the important alternatives applied in making economic decisions.
Monetarists believe that government involvement in controlling the level of aggregate demand in the economy is counterproductive in the long run. In its stead, they propose that the best way the government can control unemployment and inflation levels is by the use of monetary policies. Monetary policies ...

Provide an overview of the emerging trend of privatization of jail and prison facilities.

For the past few decades the government correctional institutions started outsourcing their different jail and prison functions to the private agencies. The government took the initiative to privatize the jail and prison facilities to curtail the escalating correctional expenses and to reduce the pressure of inmates from overcrowded prisons. In 1991, number of private prisons was 44, in 1994 it was 88, and in 2000 there were 184 private prisons. (Perrone, D., & Pratt, T., n.d.). From1990 number of inmates in private facilities rose from 7771 to 129336 in 2009, which is an increase of 1664%. The quantum leap of ...

A patent may be defined as an exclusive right granted for a novel invention or a product that provides an entirely new way of doing things. This kind of arrangement creates a monopoly in the sense that when an inventor holds a patent, every other person is excluded from selling, using, making, offering for sale or otherwise benefitting from the invention during the term of the patent. To mitigate the impact of such monopoly, rival pharmaceutical companies make generic versions of drugs, which obviously come at a more affordable price. This is illegal in most countries, but prevails in nations like India which opted ...

Provide an overview of the emerging trend of privatization of jail and prison facilities.

For the past few decades the government correctional institutions started outsourcing their different jail and prison functions to the private agencies. The government took the initiative to privatize the jail and prison facilities to curtail the escalating correctional expenses and to reduce the pressure of inmates from overcrowded prisons. In 1991, number of private prisons was 44, in 1994 it was 88, and in 2000 there were 184 private prisons. (Perrone, D., & Pratt, T., n.d.). From1990 number of inmates in private facilities rose from 7771 to 129336 in 2009, which is an increase of 1664%. The quantum leap of ...

Austerity

a). The current deficit panic and the debt, which are associated with recession has created an alarming situation in most of the countries, and threatened the economies of countries. They are however, a staple of the politics of several countries. In order to cope with the problem of fiscal deficit, and debt, the governments of many countries are adopting austerity measures. The republicans are demanding cuts and the Democrats are demanding cuts, and an increase in the tax. But, as a matter of fact, the budget cuts are not the right thing to do at such moments. In this regard, if the ...

“Too Big To Fail” is a theory that is defined as the incident wherein financial institutions become so large, connected and inter-dependent, that a failure of one of these institutions would result in economic failure. The theory thereby underscores the importance of government intervention whenever these financial institutions face difficulty. The term “Too Big to Fail” was first used in 1984 by United States Congressman Stewart McKinney. Congressman McKinney used the term to describe the intervention of the Federal Deposit Insurance Corporation, a US government financial agency, with the affairs of Continental Illinois. Continental Illinois was one of the largest banks in ...

International trade refers to the exchange of goods and services between two or more countries or states. International trade may also refer to the exchange of capital across international borders. International trade is responsible in regulating the gross domestic product which is very important in a country. The rising trade between countries has been influential in improving the political, economic and social factors in trading nations as they exchange their goods and services. International trade has been in existence for a long time where in the past long distance traders used to exchange goods and services like amber road and silk. ...

DD Curve:
DD Curve is the summarized relationship between Exchange Rate and Ouput Level which shows all the combinations of output and the exchange rate for which the output market is in short run equilibrium i.e (aggregate demand= aggregate output)
E2
The above figure represents upward sloping DD Curve explaining the effect of movement in exchange rate on output level when both Domestic Price Levels(P) and Foreign Price Levels(P*) are fixed. The figure represents the effect of depreciation of domestic currency on domestic output levels and related aggregate demand. Thus, when domestic currency depreciates ...

Conservatives and the liberals differ in a wide range of issues both socio-economically and their understanding about the role of government. In the light of this this essay seeks to compare and contrast the views of the conservatives and the liberals on economic affairs and the role of government. In addition this paper will look at how both divides acted in response to the financial crisis of 2008. First of all, conservatives are strong believers in the free market. They believe that the market should be competitive and should provide opportunities for all. In order to maintain this free system, conservatives ...

Trade can be defined generally to mean the business of buying and selling of commodities. It can also be referred to as commerce. According to the website (www.thefreedictionary.com/trade), trade is taken to be an act or an instance that involves buying and selling of the goods and services which are either on domestic (for wholesale and retail) markets or in the international markets (for import and export) that are related. Trade can either be retail or wholesale. Here the wholesale trade means the transfer of the ownerships of the goods and any other services from one person or may ...

Introduction

The Great Depression
Before the Great Depression occurred, US faced an economic boom in 1920s and then there was a depression period (Iranj, 2012). In Great Depression, many companies went bankrupt. Unemployment rate was 25% in Great Depression as well and today there are a lot of states in America that are facing the problem of unemployment (David, 2011). One of the main factors the current economic crises and the Great Depression is the risky investments. Same was the case in 2008. Europe and UK also faced the similar problems. People are still in a sense of déjà-vu as ...

Global stratification is the unequal distribution of resources amongst the nations whereas stratification within the United States refers to the unequal distribution of resources within individuals living in the United States. The global stratification within the local culture as well as the global stratification in the United States has resulted in gaps between nations/individuals and within nations/individuals (Dela, 2010), different worlds: environment and development beyond the 21st century.

General Motors is a multinational corporation whose contribution to world economy is remarkable. It has led to increased economic growth in the general economy sector (Rawis, 2000). It has led to increased ...

Introduction

Various instruments of macro-economic policy affect a country’s economy and the global economy at large. They include monetary policy, fiscal policy, and the supply side policy. Monetary policy is when the government decides to use the interest rates and the money in the economy to control the economy (Griffiths & Wall, 2012). This can be applied during recession to expand the economy, or during boom to restrict the economy. Fiscal Policy is used to direct the economy by deciding the expenditure of the government, the resources, and the taxation. The supply side policy is used to change the economic ...