Essays on Economy

1) Lionfish, belonging to the genus Pterois, is native to the Pacific and Indian oceans. They inhabit the coral reefs and lagoons and predate the small fish. Lionfish is now abundantly encountered in the United States East coast and Caribbean Sea.

There is a speculation that the lionfish was released from an aquarium in South Florida in the hurricane Andrew in 1992, although the lionfish was first discovered in the South Florida much earlier in 1985. In the last two decades the lionfish particularly the P. volitans species has expanded largely across Western Atlantic and Caribbean (Albins and Hixon, ...

America is a magnificent and influential country. However, has it always been that way? Of course not. When one of most influential politicians of the United States, Abraham Lincoln, died, the country began to literally fall apart, and the entire world thought that the whole experiment called “democracy” failed. Just the few people believed that it was the beginning of something bigger. America was about to meet its most outstanding personalities, who turned the country, and made it better. Certainly, everyone came across such names as Rockefeller, Carnegie, and Ford. The Industrialization era is the time of the most ...

It has been 5 years now, but the world economy is still hovering over with ill effects of global economic recession. Different economist define recession in a different way but one common definition which can be derived is that recession is long lasting and prime reason for slowdown to economic activity(GDP). GDP is considered to be the broadest indicator to measure economic activity. Our following section will discuss how the economic activities in US has actually decreased since the beginning of market turmoil.

Fall in Consumer Consumption Expenditure:

Consumption Expenditure is the most integral component of GDP calculation and consumer consumption accounts for ...

Generally agriculture is the backbone of our country’s economy. The economy almost solely depends on our agricultural products which earns us a considerable income after exportation. Our major export earner in the agricultural sector is cotton. Cotton farming is practiced largely across the country and the country’s economy is majorly supported by the growth of this cash crop. It is, therefore, ideal that we proceed with caution and discretion when dealing with matters that relate to the production and sale of our cotton lest we end up destroying our own economy. We have to critically examine and ...

According to International Monetary Fund (IMF), China recorded $6,747 nominal GDP per capita and $9,844 GDP per capita (PPP) in the year 2013. China's population approximation is at 1,392,472,656 people; its fertility rate is 1.58 births per woman, and life expectancy is approximately 73.49 years. Population growth rate of republic of china is at 0.46% per annum. China engages in international trade with countries all over the world, therefore, it experiences open economy (Cypher, 2014, p.237).

China has overtaken Latin America countries in competitiveness in international markets. Its well structured economy and strategic planning ...

I agree that sustainable economic development and social stability in China will be a mirage even when institutional reforms in leadership succession, anti-corruption, environmental protection and the legal system have been reformed. All these are good practises that cement the gains of economic growth, but they cannot independently spark economic growth. It is clear that the corruption discredits the legitimacy of the regime, and in turn scenes of demonstrations could be precipitated. It goes without saying that civilian unrest discredits investments and political growth, as that witnessed in the 1990s by students in china (Yang, 220).

This is to ...

The United Sates economy is the strongest economy in the world. The economy remains vibrant despite having experienced eight recessions since 1929. The goal of all the economic policy makers is to maintain a healthy economic growth rate. In the last quarter of 2013, the economy had grown at a rate of 2.6 %. The same growth was not reflected in the first quarter of 2014, with a Gross Domestic product, decreasing with one percent. A healthy growth rate grows fast enough to create jobs for the unemployed and avoid inflation (Matoloni, Shoemaker, & Aversa, 2014).

The Gross Domestic Product of ...

The leading, lagging and coincident economic indicators are types of the timing attribute of economic indicators. This is because they indicate the timing of their relative changes with the changes on the entire economy. Economic indicators can be defined as the statistics indicating how well the economy of a given nation is performing and future projections on the performance of this economy (Hirschey, p. 212). These statistics include GDP, unemployment rates, and inflation rates among others. Leading, lagging and coincident economic indicators are as defined below:

Leading – These economic indicators change prior to economy changes thereby signaling future changes ...

Nafta crown Mexico a super power in production. However, some of the developing economies should not follow suit because some of the policies did not work. For instance the application of free trade, which is referred to as neoliberalism in Mexico needs to be scraped out due to the few tariffs. This will give way to better growth and development strategies for the economy. Compared to the nations that did not follow the same economic directions, Nafta was declared a total economic failure. Jobs in the production sector in Mexico increased in number. The only problem was that ...

1. a) The Second Industrial Revolution, which was also referred to as the Technological Revolution, occurred during the later decades in the 19th Century. This was the time where mass production and electrification was booming. During this time, the production line was also created, making factory work faster and more effective (Stearns,).

It was during this time that the countries involved in the revolution saw much economic growth, over a short period of time. The living standards of each country greatly improved, especially after the Civil War in the United States. Due to the increase in productivity, the price ...

Abstract

The shift towards globalization was induced by social, economic, political and technological realities of a changing world. As such, this paper discusses the main drivers of globalization and what specific factors determined the shift towards a global economy. The paper investigates how the economy became global and what are the implications of a global economy for domestic industries, for consumers and for companies activating in various countries and competing with very diverse rivals. The paper shows that while globalization has its challenges and also its negative effects of maintaining less developed countries or third world countries in poverty, there ...

- Impact of the Great Depression on the way government set policy

Following the collapse of the stock market in October 1929, the government was forced to embark on various policies in a bid to rescue the collapsing enterprises and to prevent a further economic slump. For instance, the New Deal policies were instituted by President Roosevelt’s administration in order to deal directly with and rescue banks financial institutions which had been affected by the financial crisis leading to the great depression from collapsing (Rothbard, 2008). Further policies included the flexing of the trade barriers and the suspension ...

Abstract

Economics is a subject that has its recognition in almost every walk of life. Inevitably, there is no single definition of the term “Economics” exist in the world, because every author has had defined the concept in somewhat different manner. Adam Smith is known as the Father of Economics (FOE) and according to his concept, “Economics is the study of wealth that deals with the buying and selling of products in total”

There are basically two types of economics predominantly comprised on microeconomics and macroeconomics and both of these provisions are important. According to the ...

Youths are moved by the products that are somewhat related to their age related conditions. Age is evidently defined by the social and the cultural factors in an individual’s environment. But the two aspects have a unique meaning and a value in respect to each individual. Taking a deeper insight on the social bit, the seemingly growing middle-class age group comprised of an active and the largest population in the two counties in study (China and India). With the help of the widespread penetration of internet which includes the social media, age group seems to be drawn to ...

Introduction

2008 Nobel Prize winner, Paul Krugman, published a new book “End this depression now” in which he viewed prompt evolution of the economy to be obtained through government spending. As a result, the economy of any given country should not worry about the deficit it is causing to the country as long as the economy is increasing. It is worth noting that planning is an essential part of any successful undertaking. Therefore, the spending of the government should be a planned one.

However, according to Paul, one ought not to worry about the spending. Therefore, the government should spend ...

The comparative advantage is a theory that explains how the world economy is affected by availability of productive resources within a country. It is simply the situation where a country cannot provide everything for itself hence import them from the other countries that have the required resources in large amount. Therefore, it gave rise to the opportunity cost, which is among the fundamental aspects of production. This means that when the opportunity cost is low the country is said to have a comparative advantages in the production sector.

There is an assumption that the comparative advantage of a country ...

Question 1

Significance of the global association revolution

The global association resolution was quite significant. Prior to the revolution, nonprofit making organizations were not so common ad the few that existed had to fight for their survival. Institutions that operated were closely linked to either the government or the market. There was need to developed institutions that will operate outside the confines of the market and the state. Independent organizations that developed questioned the wide spread crisis of the state which had been going on in various countries for quite a long period. Environmental degradation, socialism, human health and safety were ...

In the article entitled “Economy Is Showing New Signs of Strength” written by the Associated Press and published online in The New York Times on September 5, 2013, the current economic condition of the United States was presented and announced in the light of prevailing external factors. As revealed, the facets that apparently contribute to the strength of the economy stemmed from the following sectors: increased employment opportunities in the service companies, particularly in auto sales; an evident lowering of interest rates due to “scaling back purchases of Treasury and mortgage-backed securities this month” of ...

Since the time of the early civilizations, money became an integral part of society as people use it to attain basic needs and specialized services, including luxury. As the years progressed, the image of money had changed from circular stones to paper money and metal coins and its value varies from its country of origin (currencies) and the resource or service required. In recent years, money has taken another makeover as payable services and goods are now available online for people on the go, creating “electronic money”. With the introduction of electronic money, there are a few sectors now ...

Question 1

The American economy is just making a comeback from the 2008 economic recession. The recession took the economy to its lowest point in 25 years. The recession arose from the housing bubble, which led to the eventual disintegration of the financial markets. The housing market caused the disintegration of the markets due to irresponsible activities by investors and financial institutions. The housing market is quite different from the stocks market hence; the circumstances that led to the recession involved a series of unique events. The housing industry involves risks that is ...

1. Nigeria to Chicago

Discuss the distinct advantages and disadvantages for Israel and Ngozi in comparison to Barine even though all three were immigrating from the same political context in Nigeria. How did their gender, class and race impact their experiences in the U.S.?

Israel Nwidor, wife Ngozi and Barine were among individuals who were living in Nigeria and were to be sent away from the country. Their destination was the United States. However, the three parties were facing different merits as demerits. Nwidor and Ngozi were disadvantages in that they were to be sent away from Nigeria with ...

Introduction

Afrocentrism requires that we examine aspects of African culture from an African perspective. Professor Molefi Keta Asante argues that the purpose of Afrocentrism is to “encourage black nationalism and ethnic pride as a psychological weapon against destructive and depilating effects of universal racism”. By extension, Afro centrism offers an alternative view of the world that analyzes the popular western view proposed by European scholars. Although the premise of Afrocentric ideas is the argument the genesis of civilization from Egypt was a black civilization, it also proposes for the reexamination of some of the traditions and way of life of ...

Question One

The global economy has significantly changed since the mid twentieth century altering the movement of goods as well as services across national borders. Following the end of the First World War, the Japanese and the rest of the major Asian nations changed the global economy by beginning to export goods the West. The changes in have been accelerated by the less expensive optical fiber that ensures wide usage of internet and other communication channels to integrate international business. Markets stretched and following the fall of the Soviet Union more markets emerged in India, Eastern Europe, China and Russia.

With ...

Introduction

The postclassical countries are the countries that have undergone the classical stage whereby they have developed in economical perspective. The postclassical countries, these countries include India, Greece/Rome and china. They are the countries s after the classical for example the countries that come after the classical were characterized by the technological advancement. Byzantium and Abbasid were among the postclassical countries, which are characterized by the modernization in the economical perspective, the use of machinery in production and a rather more advanced technology.

Greece followed Rome and Rome itself followed the Byzantium that latter changed and founded the Russia. China ...

8)Using Marxist categories, fully explain the problem of the transformation of values into prices of production, mention the role of capitalist competition and the organic composition of capital in explaining the deviation of values from prices of production.

Marxist theory of transformation of values into prices of production is generally the view that labor is the inherent amount of value. Marx explains that a determination of prices by quantitative methods compatibly fits with the theory of labor considered as imminent amount or measure of value. This is a factual view that it is about the nature of exchange ...

- The Circular Flow Diagram

The circular flow diagram captures the relationship of money and resources between households and firms in the economy. The inner loop represents the flows of inputs for production and goods and services: households sell their labor to firms, and the firms sell the goods and services they produce to households. The outer loop in the diagram represents the corresponding flows of money: households pay the firms for the goods and services, and the firms pay wages and profit to the households.

Households increase savings. The presence of increase in household saving implies that there ...

Thesis statement

Capitalism is an economic system based on the private ownership of the means of production, with the goal of making a profit.1 This is a quote and will be used in the introduction. Source : Capitalism Oxford Dictionaries. Retrieved 4 January 2013.

- John Maynard Keynes believes that capitalism is essential for freedom to survive and thrive. This is a paraphrase and will be used in I.2 Source: Capitalism. Wikipedia (Accessed May 13, 2013). - Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned.3This is a ...

Introduction

The purpose of this report is to provide information on the effect of unemployment rates on consumer spending and relate it to the viability of retail operations. The establishment that operates a retail store already has an idea regarding the impact of unemployment rates on consumer spending, that is, when unemployment rates are high the consumer spending is affected negatively. This is an intuitive assumption since people who do not have jobs or are underemployed will have less money to spend for goods that are not necessities; thus to remain competitive and efficient, retail operations would try to contain ...

CNN. (2013, May 8). Meet South Africa's economic pioneers. Retrieved from http://www.youtube.com/watch?v=1Mx7-tWLcFE.

Summary: In this CNN news clip, Robyn Curnow reports about the growing popularity of smartphone use in South Africa, which is contributing to the country’s economic growth. In particular, the growth in the country’s telecommunications industry is bound to attract investors, especially since a 35-percent increase in consumer spending is expected by 2015.

This potential growth is helped by the fact that the country’s middle class is experiencing more progress and that about 70 percent of the country’s population is aged ...

The debate on college internships has raised contrasting views over the years. There are those proponents of college internships who believe that internships form the basis of a good career since they mould students and help them transition from class to the practical and professional world. However, some people argue that internships cause more harm than good to most students. Despite the rush for internships by many college students, it is important to note that internships are not necessarily the basis of success. College internships should be optional to students because students have different backgrounds and plans for their ...

Introduction

The debate on college internships has raised contrasting views over the years. Some internship supporters believe that internships form the basis of a good career since they help students in transition from classes to the practical and professional world. However, some people argue that internships cause more harm than good to most students. Despite the rush for internships by many college students, they are not necessarily the basis of success. College internships should be optional to students because students have different backgrounds and plans for their future.

According to Jennifer Halperin, Internship colleges are those that do not offer ...

In this section, I will provide a comparison of the inflation rate and economic growth of Belgium and the Eurozone. The inflation rate is defined as the percentage change in the price index from the preceding period. It captures the rate of change of prices calculated on a monthly or annual basis. The data on the inflation rate for Belgium and the Eurozone are presented below which I obtained from the news release of Eurostat (2013).

Meanwhile, economic growth is defined as the increase in the capacity of the economy to produce goods and services, compared from one period ...

The documentary, Inside Job, was released in 2010. It mainly focuses on the financial crisis that was witnessed between 2007 and 2009. Viewers opine that the financial crisis was an instigation of few individuals in the USA. The US government officials and top players in the financial services industry intentionally made decisions that would later lead the American economy into turmoil. From the documentary, it is evident that the financial service industry was led into a trap by its own leaders, who had full knowledge of what would happen. More so, the people responsible for ...

The U.S tax system can be classified as progressive where tax rates increase with increases with taxable base or the gross income (Amico 2003, pp 14). The Internal Revenue Service (IRS) under the Federal Government defines gross income as any income from whatever source except for the items excluded by the state. Sources of income in this case include compensations such as service, income from insurance (except death benefits), interests, pensions, and annuities, gross profits from businesses, income from corporations, partnerships, trusts and estates, amongst others (Lymer 2004, pp 144). The state excludes death benefits ...

Growth in output per capita and in population growth

According to the report published by the World Bank in 2012, the Gross Domestic Product (GDP) per capita growth in Saudi Arabia was estimated to 4.36 percent. However, in the third quarter of 2012, the GDP in this country expanded to 5.87 percent. This growth rate is according to the report released by the Saudi Arabia Monetary Agency. The growth is associated by the country’s 20 percent possession of world’s proven reserves of petroleum. On the other hand, the average yearly percentage change in the Saudi Arabia population as a result of surplus/deficit in the economy is ...

Executive Summary

This paper provides background information on Indonesia, which is a prospective location for the expansion of Foxconn's operations, particularly for the establishment of its manufacturing facility.

Economic climate

- Indonesia incurred an economic growth of 6.1% and 6.4% in 2010 and 2011, respectively (CIA, n.d.). - The new government administration has introduced various financial reforms that further aid economic development. - It has managed to achieve growth even during the global economic crisis. - It is able to maintain low levels of debt. - Its credit rating has been upgraded to the investment grade in 2011 (CIA, n.d.). - ...

Introduction

Opportunity cost can be defined as the cost related to any activity calculated in respect of the worth of the subsequent alternative given up. The opportunity cost, associated with the second top choice, is a sacrifice that a group or someone makes, who has selected one of the choices among many. Opportunity cost, a "cost" of the scarified goods or commodity after a choice is made. Opportunity cost in economics is an important concept, and has also been explained as "the fundamental relationship between choice and scarcity ". The idea of the opportunity cost in business plays a vital role ...

The economic growth of France remains to be influential in the entire European economy as it is currently the second largest country in Europe in terms of economic development and fifth in the world. The country being a member of European Union, it has also been affected tremendously by the most recent Eurozone recession. However, the country remains the world’s greatest economy in terms of the Gross Domestic Productivity (GDP), with Paris maintaining the highest economic income obtained from tourism activities whereby the city receives the highest number of tourists from all over the world. The country also ...

- When a country such as the United States is experiencing serve and prolonged recessionary trend discount rate, term auction, and open market facility can provide useful means of ensuring that the economy returns in the right course. Discount rate is the interest rate that the central bank charges commercial banks and other depository institutions when they receive money from the Federal Reserve Bank's lending facility. During periods of prolonged recessionary trend, the Federal Reserve System should reduce the discount rate in order to encourage commercial banks and other financial institutions to lower the interest rate they charge to ...

Unemployment rates have been on the rise in the past years and many actions are underway to help rectify the situation. The government is doing everything in its power to make sure that those who do not have jobs at least get the chance to explore other interests. Among the ideas put forth to solve the unemployment problem is providing a guaranteed income for the unemployed. This may seem like the best solution for many, but it may have adverse effects o the unemployment problem that the government is trying hard to solve (Long-term unemployment causes, consequences, and solutions ...

Economists have proved that capital and labor are not sufficient of themselves to stimulate growth in an economy. In fact, many experts now believe that the vital determining factor in economic growth is knowledge. It is generally presumed that larger firms have an advantage when it comes to producing and capitalizing upon knowledge. Large businesses are in a better position than most businesses in terms for paying for R&D, human capital and patenting inventions. However, although the factors of capital and unskilled labor are sources of competitive advantage in an economy characterized by large scale production, an entrepreneurial economy ...

Identify economic factors that affect the real GDP, the unemployment rate, the inflation rate, and a key interest rate. How do you predict the economy will perform in the next two years given the current state of two of the economic factors you identified? How might your organization be affected by these changes?

World’s economy today has become very volatile with the passage of time. It therefore is a function of a number of monetary and non monetary factors, which have a direct or indirect impact. Factors affecting the real GDP, inflation rate, unemployment rate and the ...

Abstract

The paper dwells on general equilibrium theory by putting into perspective various critical issues. The origin of the concept of general equilibrium theory is illuminated dating back to neoclassical period. Moreover, various models such as Walras model of pricing and modern equilibrium model is also put into consideration. Finally, the importance and application of general equilibrium has also been discussed at length. General equilibrium theory refers to a concept modeled around theoretical economics. The modern general equilibrium takes into consideration three important interpretations which should be taken into consideration. The idea of general equilibrium theory cannot be complete when ...

The Hospitality industry in the U.K

The hospitality is a major employer and is a relevant field the world over. The U.K has made leap and bounds in the hospitality industry and this shows because it is a major contributor in the country’s economy. Like everywhere else in the world, the hospitality industry encompasses several fields within itself. Some of this field include; domestic and foreign tourism, food service and the hotels. The hospitality industry is dependent on several other factors, as a result this makes this industry fluctuate from time to time during an economic year. The hospitality industry can be divided into ...

Answer 1)

Dividing the period of analysis in three periods i.e 1981-1991, 1992-1997, 1998-2011 we could easily interpret the actual trend in the bond ratings by Standard and Poors. 1981-1991: This was the period of slow economic growth and as a result, once could witness that till 1991, number of bonds downgraded had exceeded the number of bonds upgraded. 1992-1997: This was the time of blue chip stocks and when US economy was introduced to the boom of technology. As a result, with the rejuniveation of US economy, the number of bonds upgraded exceeded the number of bonds being downgraded. 1998-2011: ...

Macroeconomics 2301

18.04.2014

HCC

Spring 2014 8 week course The world’s economy has faced several periods of crisis during the last twenty years. The financial crisis in 2008 is the one that is most recent. It emerged in the United States and then spread to Europe, later affecting the rest of the world. The most problematic sector in the US was the mortgage sector, and was one of the main causes leading to the financial crisis. The house prices have been rising from 1998 to 2006, prompting home builders to construct more new houses every year, but these injections helped rising ...

Its impact on the businesses of New Zealand in 2014

(Name of your Institution)

External organisational environment of New Zealand and its impact on the businesses of New Zealand in 2014

Introduction Since the past few years, increasing emphasize have been cast “on the importance of analyzing the relationship between the organization and its environment (Pfeffer, 1972).” Several researches have been made in order to understand how the external organizational environment, general environment and task environment affect business in a country. “Also known as the operating environment, external organizational environment refers to market conditions, economic and political issues on the local and national levels, demographic factors, and other forces outside of a business that affect the overall success of that business (‘External Environment’, n.d.).” On the ...

The New Deal was basically a series of programs that then then Democratic president of the United States, Franklin Roosevelt enacted between 1933 and 1936 to alleviate the financial and to a greater extent, the economic suffering that had struck the United States as well as other foreign countries. This phenomenon is known today as the Great Depression. The New Deal was the president’s response to the allegedly ineffective economic recovery approach that his predecessor, former president Herbert Hoover implemented. The New Deal approach was meant to fix the economy from the ground up by making programs that ...

Labor unions are considered to be very beneficial to employees because they advocate for their welfare over their working conditions collectively. The bargaining aims at moving economy in a better direction. Collective Bargaining is the process in which labor management representative bargain an acceptable labor agreement (Blair566). When employees bargain collectively, they get a chance to attach their benefits and wages to productivity gain of the overall economy of the state. A long standing labor organization is capable of improving the quality of future jobs. Collective bargaining results to better management and increased productivity (Blair567). Labor unions increase creation ...

- At the equilibrium quantity how much annual revenue do the producers receive? 20 $ per crate of oranges - If the government imposes a price floor of $30 per crate how much revenue will producers now receive? (80 million crates x30 $) = 2,400 $ million - Discuss whether producers are necessarily better off. The producers are not better off because when the prices for the oranges is low, many customers demand for them and this would result to extreme losses. On the other hand, when the price for the oranges is high, few customers are capable of buying them although ...

How Can Workers Achieve a Balance between their Work and Social Life?

Structuration Theory In the workplace, workers try to strike a balance between work and life. In the family context, life casts many demands upon the workers that force them to work harder and meet the demands. The credibility approach enables workers to weigh the importance between work and their social life. Workers weigh what is more important between socializing and generating revenue to meet the demands they have. Those who have pressing demands work for longer where as those who value their social time work for shorter periods. The second approach is the rationalization approach. Workers prefer to use ...

United States is ranked as the 12th freest economy in 2014 index, this is a point low than last year. The reduction in its score has been as a result of, deterioration in property rights, fiscal freedom, and business freedom. In addition to that U.S is ranked the second place out of three countries in the North America region, therefore, remaining very competitive and well above the world’s regional average (Barro 15). In the year 2013, the gross domestic products of United States, increased from the previous year and was recorded as 2.6 percent. According to Barro 17 ...

Management

FOR : ALL MANAGERS RE : General Environmental Forces This Memo serves as follow-up on your identified roles for your first international assignment after your recent training on Cultural Competency. As part of the company’s objective in building global knowledge, I have decided to focus on the five General Environment Areas including the company’s economy, technology, sociocultural issues, demographics, andpolitical or legal forces. I want to know your opinion on with regard to improving the economy of our company, and at the same time, the technology that will help in achieving the objectives of our organization. In ...

Introduction

Creating a moral, economic system should be the ultimate goal of every society. A moral economy is one that is founded on the principles of justice, fairness and goodness. A moral, economic system ensures equitable allocation of resources that are scarce in nature and configures markets to ensure that they run in a fair manner. The results are to realize a stable economy that is free from exploitation, political insecurity and wars. A moral, economic system fosters peace and satisfaction among the citizens of a nation (SEA, Browne, &Milgram, 2009). It also creates a level ground for fair competition ...

Economics

The European countries are facing lower growth rates, just as they faced in history. The austerity measures have brought pain to the euro zone, and these measures provided no relief. The euro zone countries are reducing their spending by the double digits. Such reduction is increasing unemployment in Europe. The eurozone countries are trying to find the possible ways that are suitable for countries that are stagnant economically for the prosperity of the countries. In order to achieve the better growth for the economies, the countries are adopting austerity. Austerity is the intentional deflation of the domestic prices and ...

At various stages of human development the workforce performance was different. Primitive society was characterized by full employment, whereas, during the feudalism era, there was an absolute and relative agrarian overpopulation of free citizens, some of whom became soldiers, in order to do at least something. Under the conditions of frequent capitalism in the industrial stage of development, when market economy dominates in most of the countries, we have a new socio-economic phenomenon — army of unemployed. Unemployment is a complex socio-economic phenomenon in which the economically active population is unemployed.In a market economy, unemployment is a result of the ...

Introduction

Russia is a huge producer of oil and gas. It is the second largest producer and exporter of oil, and the largest producer and exporter of natural gas (Winfrey, 2010). Its economy largely depends on its oil and gas reserves. The funds acquired from its oil and gas reserves have greatly contributed to the survival of its political system. Boix (2004) argues that there are no examples of a successful transition to democracy in a country in which the contribution of the oil in the country’s export income is more than one third, and it seems to be ...

Introduction:

Despite the devastating effects of the 2008 global financial crisis and the subsequent Euro zone crisis, the tourism industry has continued to flourish. Initially, the industry was referred to as a cottage industry but the international travel and tourism industry has evolved becoming a major contributor to economic growth and development in almost every economy in the world. Research has shown that the global increase in worldwide tourist arrivals outperform gross domestic product growth in one out of every two years in the past three decades. Many countries regard tourism as the most significant primary export industry especially the ...

The Effect The Servicemen’s Readjustment Act Of 1944, Otherwise Known As The G.I. Bill, Had On The Economic Boom Experienced By The United States Post World War II

Introduction

The Servicemen’s Readjustment Act of 1944 (P.L. 78-446,58 Stat. 248m) was a statute that was aimed at providing a range of benefits to the returning Second World War troupers. The Bill was assented to law by President Franklin D. Roosevelt on June 22, 1944. The law was aimed at creating pool fund for the active fighters in the Second World War that would enable them to acquire education, ...

Africans do not have the incentives to invest and save, their politicians are more concerned on power retention games and do not have incentives that can deliver solutions to the economic problems of their masses. Sub-Saharan Africa is not naturally poor it was made poor by its political and economic institutions. Historically. Societies did not have the types of associations that are required for modern economic evolution. Although some societies had some elements of good institutes for a long time, growth and economic revolution arose when institutional transition took place. Compared to the events that followed in Eurasia, the ...