Essays on Economic Theories

Problem Statement

There are a number of reasons, defined by the ethical as well as the economic and the political scenes, for the non-diminishing interest in addressing the gap between the rich and the poor. "The rich get richer and the poor get poorer" is an aphorism, which outlines the major views on economic inequality and the criticism, seen in academic and business literature, towards the philosophy of free market and capitalism in general. One of the principal works, laying the foundation for the discussion, is the work by Thomas Piketty, Capital in the Twenty-First Century (2014), who places the idea ...

ABSTRACT

There are serious rising trends involving children and teens committing all sorts of crime, from individual acts to gang activity, all over the country. The issues regarding juvenile delinquency are a topic of great research and debate. There are a number of many theories from multiple disciplines, including economic, biological, psychological and sociological, that believe can explain why some children and teens become juvenile delinquents and others do not. Ultimately, there are many theories and each make valid points but, also, have weaknesses. Realistically, it is likely a combination of these different possibilities, making many of the causes of ...

INTERNATIONAL TRADE THEORY

INTERNATIONAL TRADE THEORY

Abstract

Comparative advantage, the ability of a nation or individual firms to produce goods or services at lower costs than their competitors is critical in international trade. Fundamentally, the availability of natural resources, abundant of labor, and technology allows some regions to produce goods or services at lower costs. These propositions have been the central building blocks of the international trade theory with little regards to the role of the entrepreneurs. Investors determine the value of the natural resources or even attempting to utilize them. Besides, their decisions influence the market forces in the region supply of ...

Article Analysis: World Poverty

Introduction In 2015, the United Nations is working with the World Bank’s ambitious plan to end extreme global poverty by the year 2030. This means that for the first time, every person in the world would afford common items and food to make their life easier. Many experts would debate on the main cause of poverty as it could be the changing trends in a certain country’s economy. Other factors would also include the lack of education, overpopulation, the presence of epidemic diseases like AIDS and malaria and even environmental problems like drought. Extreme weather can cause ...