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Home » Economics (447 Papers)

Economics and Ethics
The area of ethics in economics is a divisive one, over which there has been considerable debate. Ethics has many interpretations in the history of philosophy as well as in economic history. Very simply, ethics refers to an understanding of certain forms of behavior as either right or wrong. "The field of ethics, also called moral philosophy, involves systematizing, defending, and recommending concepts of right and wrong behavior." (Ethics) However, there are many complex aspects to the under ... The area of ethics in economics is a divisive one, over which there has been considerable debate. ... Recent controversies, such as the Enron scandal have also highlighted the issue of ethics in economics and business. ... More importantly, theorists note that, "The nature of modern economics has been substantially impoverished by the distance that has grown between economics and ethics ... ... In its origins modern economics was intimately connected to ethics and ethical motivations. ... At the time of its inception, then, the language of economics was comprised of normative elements. ... Wordcount: 1882 Pages: 8 Bibliography
Modern Economics: Theory and Development
Modern economics-or political economy, as it used to be called-dates back to 1776. It didn"t begin with the American Revolution. A man named Adam Smith, a Scottish philosopher, published a book called Smith"s work is considered the first example of modern economics. In some places Smith is most famous for suggesting that business always try to monopolize markets and raise prices. Economists credit him with the theory of the "invisible hand"- the idea that a market economy will operat ... Economics didn"t actually start with Smith. ... Economics figures in most national elections. ... What is economics? ... Economics is why we have jobs. ... Sometimes economics drives the way we measure. ... Wordcount: 1716 Pages: 7
The Economics is in Ways Like the Air
A Price to Pay "The Fatal Equilibrium" by Marshall Jevons describes a story of murder and betrayal within the Harvard University faculty. The novel also explains the economic ways of thinking that people apply for decision making in their lives. Economics is in ways like the air. It surrounds us in every way no matter where we live, work or play. Economics play a great role in our lives whether or not we want it to be. Economics is not just dollar and cents, it's the way people interact ... Economics is in ways like the air. ... Economics play a great role in our lives whether or not we want it to be. ... Spearman doesn't just recognizes economics in his work but also during his leisure time. ... She may not know it but she is involved in economics by choosing the fanciest dog food. ... Other characters in the novel were also involved in everyday economics. ... Wordcount: 706 Pages: 3
Generational Wealth and Economics: Analysis
Why is there a Lack of Generational Wealth in the Black Community? Today African American communities are falling apart tremendously. Crime is rising; children are killing more than they are working. Economics are lowering; people tend to spend their money in other communities where businesses look more professional than that of their own, and families are fighting over material things that do not have value or meaning. There is also a rise in welfare, section eight housing, abortion, credi ... The lack of generational wealth is a direct result of our knowledge of economics and understanding economics. ... Economics is a problem because many African Americans don"t know what economics are and how to manage it. ... Economics is the study of heart and wallet. ... " Let"s break down economics. ... Therefore, economics is the study of the family management. ... Wordcount: 1475 Pages: 6
The Comment on "Why CEOs fail"
Comment on "Why CEOs fail" After reading this article, I think I've learned a lot about successful CEOs and especially unsuccessful CEOs. This article drives home that what a competent CEO should do and what are the common problems that CEOs have to face to lead the company and business. Firstly, a CEO must be a smart and capable man; he/she must know what the whole business is and how to deal with it. He/She should be sober about the situation that the company or corporation is facing, and ... Sometimes, it's because the subordinates are thought to be so talented that the CEO persuades himself that it is impossible for them to make mistakes; and sometimes, it's because the subordinates have wide and complex relations with press or economics field so the CEO didn't want to fire them and affect the company's social image; in other case, the CEO didn't want to fire the subordinates until the last minute because they are good friends and have good private relationships, "He is my guy", as one CEO said. ... Wordcount: 544 Pages: 2
The Study of Economics
 Explain why the problem or topic written about in the article is important in the study of economics. This article is important to the study of economics because economics deals with the management of the income, supplies, and expenses of a household, community, government, or other group or organizations. And if management of these things are not regulated inflation will occur or it will not be able to support itself and might fall into a depression. 1. What is the problem?  One prob ...  Explain why the problem or topic written about in the article is important in the study of economics. This article is important to the study of economics because economics deals with the management of the income, supplies, and expenses of a household, community, government, or other group or organizations. ... Wordcount: 357 Pages: 1
Keynesian Style of Economics
Keynesian Economics Two controversial economic policies are Keynesian economics and Supply Side economics. They represent opposite sides of the economic policy spectrum and were introduced at opposite ends of the 20th century, yet still are the most famous for their effects on the economy of the United States when they were used. The founder of Keynesian economic theory was John Maynard Keynes. He made many great accomplishments during his time and probably his greatest was what he did for ... Keynesian Economics Two controversial economic policies are Keynesian economics and Supply Side economics. ... As far as stressing extremes, Keynesian economics pushed for a "happy medium" where output and prices are constant, and there is no surplus in supply, but also no deficit. Supply Side economics emphasized the supply of goods and services. Supply Side economics supports higher taxes and less government spending to help economy. ... Wordcount: 505 Pages: 2
The Aim of Post-Keynesian Economics
Post-Keynesian economic was formed and developed by economists such as Joan Robinson and Nicholas Kaldor who believed Keynesian economics was based on disequilibrium and uncertainty, and that challenges the general equilibrium assumptions of neo-classical theory. The main aim of post-Keynesian economics is to complete the unfinished Keynesian revolution. Post-Keynesian economists fundamentally used ideas from Keynes and his concept of effective demand, Marxist economist Michael Kalecki to pro ... The main aim of post-Keynesian economics is to complete the unfinished Keynesian revolution. ... The prevailing theory in economics was static rather than dynamic. ... g A guide to Post-Keynesian Economics?... g Recent developments in Post-Keynesian Economics?... g Post-Keynesian approach to economics?... Wordcount: 1328 Pages: 5
What is Ethical Economics?
ETHICAL ECONOMICS? The term ethical and economics should never be put into the same sentance. They are almost oxymoronic in the sense that in order for one to succeed on an economic level, ethics are usually never involved. America as we have come to know it is a world full of mice and snakes. The mice are those in society who voluntarily choose to live off of the prosperous, as the snakes go out and get their prey. The capitalistic society we live in known as America is truly what we ma ... ETHICAL ECONOMICS? The term ethical and economics should never be put into the same sentance. ... The sytem of Economics in the United States of America is balanced and geared towards the citizen, not the government. ... Absolute advantage and monopolies play a huge role in free market economics, allowing the seller to control his/her own destiny. ... The status quo in U.S. economics is quite off-balance, but no one is to blame for it. ... Wordcount: 905 Pages: 4
The Study of Economics To Use The Scarce Resources
Economics is the social science that studies the production, distribution, exchange, and consumption of goods and services. The study of economics focuses on how individuals, corporations, and societies choose to use the scarce resources provided by nature and previous generations. Scarce resources provided by nature that societies choose to use include oil, land, water, and time. These elements are important to the economy because oil, land, and water provide money for the market. The more ... Economics is a social science that predicts actions based on certain changes. ... Positive economics can be referred to as "What is, what was, and what will probably be" economics. ... Positive economics is an approach to economics that seeks to understand behavior and the operation of systems without making judgements. ... Normative economics involves judgements and prescriptions for courses of action. Normative economics is a method of economics that states "what should be" instead of what is. ... Wordcount: 2850 Pages: 11
Trade and Economics
Trade and economics have played a crucial role in the lives of people everywhere throughout the sands of time. Before the coining of monies individuals would either barter goods for other goods or swap goods for standardized precious objects, such as seashells. Although commerce is an important aspect of society, Marx took the notion of economics a step further. He believed that economics is the key to understanding history and the motivations of individuals within any given society. He saw eco ... Trade and economics have played a crucial role in the lives of people everywhere throughout the sands of time. ... Although commerce is an important aspect of society, Marx took the notion of economics a step further. He believed that economics is the key to understanding history and the motivations of individuals within any given society. He saw economics as the underlying cause of the chain of events in which each nation undergoes. ... Life and economics should be parallel, and should never intersect. ... Wordcount: 3046 Pages: 12
The Positive and Normative Economics
The objective to the success of a specific science is the capability to identify and delineate opinions on 'what is' from 'what ought to happen'.  This includes providing a demarcation between positive statements and normative statements.  Positive statements deal with 'what is, was or what will be' but the normative statements deals with 'what ought to be' and are based on value judgments regarding what is good or what is bad. The positive conclusions could be considered as those which are ex ... Positive statements are for example, when we ask economists to inform us regarding how the price system operates, we are asking them to travel us along the road of positive economics.  ... The normative economics on the other hand deals with the prescriptive statements, to illustrate, how the price system would function. ... (The Tools of Economics Analysis) The positive analysis concentrates on becoming fully aware of the economic variables, unemployment, inflation, growth rates, interest rates etc and the way they associate with one another. ... (The Demand Side:  Keynesian Economics) T... Wordcount: 2036 Pages: 8 Bibliography
The Primitive Economics of the Trobriand Islanders
Change of cultures: In this case the example of the economic life of the Trobriand Islanders has been taken and they are a tribal group living on a coral archipelago near the north east coast of New Guinea. This tribal group is like other South Sea Islanders of the Melanesian origin, and they have a well developed method of chieftainship, an excellent ability in different crafts and an excellent level of art. They are certainly not savages. According to general measures of culture they are re ... Yet even they are well organized in terms of economics. ... (The Primitive Economics of the Trobriand Islanders) At the same time there is a garden magician who is also called the master of the garden and he also functions for different areas required for gardening in that society. ... ((The Primitive Economics of the Trobriand Islanders) This makes it clear that the society there is quite different from the society that we are used to. ... (The Primitive Economics of the Trobriand Islanders) Colonialism was not very different for the people in this group, as they are subservient to a ... Wordcount: 1596 Pages: 6 Bibliography
Economics
Peter Calabrese Economics 101 Dr. Maglione March 22, 2000 How has your life changed since 1991? Have you noticed: an increase of material goods around your house, a new car in your driveway, or a little bit bigger gut due to eating more prime rib and filet mignon. If you have answered yes to any of these questions you are among the millions that have benefited from the economic boom. The economic boom refers to the period of economic expansion that started in March of 1991 and is still h ... Peter Calabrese Economics 101 Dr. ... Wordcount: 1011 Pages: 4
The Life of North Colonies vs. South Colonies
Paul A. Samuelson Paul Samuelson was born in Gary, Indiana in 1915. He was not the best of students; in fact, he made no impact at all until he got to college. Although he was an underachiever in high school, Samuelson became one of the greatest economists of the twentieth century. Samuelson completed his undergraduate studies at the University of Chicago. Afterwards he considered going to Columbia for his graduate work, but chose to go to Harvard in September of 1935. He was awarded a S ... He was awarded a Social Science Research Council Fellowship to do his graduate work in the field of economics. ... Paul Samuelson made a big imprint on modern economics. ... Samuelson was a major architect of modern neoclassical economics. ... Before Samuelson, economics reflected the verbal and diagrammatic approach popularized by Alfred Marshall. ... Samuelson has contributed to almost every branch of economics. ... Wordcount: 629 Pages: 3
Industrialization in Economics
Industrialization, in economics, condition marked by an increase in the importance of industry to an economy. The process of industrialization describes the transition from an agricultural society to one based on industry. During the process of industrialization, per capita income (level of income per person) rises and productivity levels increase. Modern industrialization is often dated as having its origins in the Industrial Revolution, which began in Great Britain in the 18th century and spr ... Industrialization, in economics, condition marked by an increase in the importance of industry to an economy. ... Wordcount: 744 Pages: 3
Economics, supply and demand
In the article we find that teenagers have the oppertunity to be demanding about their salary in the baby sitting field, because the amount of babysitters today are scarce. The babysitting population, teenagers, find themselves busy with school, part time jobs, and extracirricular activity. Teenagers with drivers licenses are even more scarce than those with out, all in all, It's hard to find a babysitter. Times have changed, just twenty years ago there were 33 million children who needed to ... In economics we concider this an inflation, the amount of resources(babysitters) decreased while the demand for them rose. ... Wordcount: 550 Pages: 2
Economics and Lottery Interpretation
Economics is a way of life: The Lottery is not A lottery is something that many people would be very excited to win. Most people think of a huge cash reward for winning a lottery. The thought of millions of dollars being awarded just because they picked your name is very exciting. In most cases, the possibility of winning one of these great lotteries is very slim; you would have a better chance of being hit by lightning. Shirley Jackson writes about a lottery that took place in a small farm ... Economics is a way of life: The Lottery is not A lottery is something that many people would be very excited to win. ... This short story is reasoned with pure economics. ... Wordcount: 2967 Pages: 12
Life of John Kenneth Galbraith
This recognized economist was borned in October 15, 1908 at Ontario, Canada. He comes from a Scottish farming community on the north shore of Lake Erie. His father was a teacher at first who later became a farmer. His father was very interested in politics and he was somehow related to it in his community. He used to give speeches concerned on his liberal way of thinking. John remembers how much his dad advised him of how he has to bring changes to the world. Nowadays, he is married to Catherine ... During his third year of studies at Berkeley, he was hired for a job as teacher of economics at the University of California. In 1934, he got his doctorate in Agricultural Economics. ... In 1948, he became a professor of Economics at Harvard. ... His Contributions to Society and Economics During the 1930s, Galbraith along with Alvin Hansen and many other recognized economists helped in the development of the Keynesian Economics. ... It seems that both the "New Industrial State" and the later published "Economics and the Public Purpose" received great support from readers. ... Wordcount: 867 Pages: 3
The-Sort-of-Economic Constitution
The Sort-Of-Economic Constitution The Constitution was written to provide the thirteen colonies with universal rules, laws, and regulations on all concerning issues. Many subjects were discussed; distributions of power locally and nationally, enforcement of the terms of the distribution, taxation, and commerce. Throughout the writing of the Constitution, issues that concerned the economy, such as taxation and economic powers, were uncovered, but in the end, a central theme became clear. The ... The Constitution was written to control the rights of power and the distribution of the power in politics more than in economics. ... Beard explained that the framers of the Constitution had been members of the upper class of society, and that economics were a large part of the Constitution because they would have a direct, positive effect on the framers themselves. ... Commager was able to prove that even though economics was discussed and was an issue in the writing of the Constitution, politics and power were the major concerns of the framers. ... Larger issues such as the distribu... Wordcount: 462 Pages: 2
Milton Friedman: An Economic Legend
Even those individuals who consider him to be a negative influence upon economic theory cannot deny the impact of Milton Friedman had in deflating the once-uniform confidence economists invested in Keynesian theories of macroeconomics after Keynes' theories of government spending were credited with ending the Great Depression. Unlike Keynes, who advocated sharp, short-term increases in government spending to ameliorate the effects of a recession, Friedman argued against government intervention i ... (Silk, 2005) This was at the heart of Friedman's 1957 contributions to economics, called the "Permanent Income Hypothesis" in consumption, that suggested that the more money existed in the economy, the more individuals were willing to spend, in contrast to Keynes' belief that recessions encouraged hoarding, regardless of the money supply, because of the fear of unemployment. ... ("Milton Friedman: 1976 Winner of the Nobel Prize in Economics." The Nobel Prize Internet Archive) Friedman is best known for founding what is known as the "Chicago School" of economics during the 1960s, perh... Wordcount: 670 Pages: 3 Bibliography
Keynesian's Economic Policies
Keynesian Economics Two controversial economic policies are Keynesian economics and Supply Side economics. They represent opposite sides of the economic policy spectrum and were introduced at opposite ends of the 20th century, yet still are the most famous for their effects on the economy of the United States when they were used. The founder of Keynesian economic theory was John Maynard Keynes. He made many great accomplishments during his time and probably his greatest was what he did for Am ... Keynesian Economics Two controversial economic policies are Keynesian economics and Supply Side economics. ... As far as stressing extremes, Keynesian economics pushed for a "happy medium" where output and prices are constant, and there is no surplus in supply, but also no deficit. Supply Side economics emphasized the supply of goods and services. Supply Side economics supports higher taxes and less government spending to help economy. ... Wordcount: 499 Pages: 2
Economic Theories of Paul Samuelson
BIG ISSUES OF ECONOMIC CONCERN Samuelson has offered the world many economic theories. One area he is widely known for is his views on the spending multiplier. Samuelson has presented a way through his aggregate demand model to demonstrate how the spending multiplier affects individual types of spending. There are several components of aggregate demand. The basis for understanding this model is as follows:  An increase in prices causes a drop in household assets, thus causing consumers ... The Nobel prizewinner in economics in 1970, Samuelson considered it a "priceless advantage to have received a thorough grounding in classical economics" (Samuelson, PG). ... It is easy to see why: without it, economics could not say how prices are determined (Soros 45). ... In his economics textbook, Economics: An Introductory Analysis, Samuelson spends many chapters on the socialist economics of the Soviet Union. ... He believes free trade should be considered and is critical of Karl Marx"s economics. ... In his economics textbook, Economics: An Introductory Analysis, he teaches his eco... Wordcount: 2516 Pages: 10
Modern Economic Theories-
Modern Economic Theories- Two controversial economic policies are Keynesian economics and Supply Side economics. They represent opposite sides of the economic policy spectrum and were introduced at opposite ends of the 20th century, yet still are the most famous for their effects on the economy of the United States when they were used. The founder of Keynesian economic theory was John Maynard Keynes. He made many great accomplishments during his time and probably his great ... Modern Economic Theories- Two controversial economic policies are Keynesian economics and Supply Side economics. ... As far as stressing extremes, Keynesian economics pushed for a "happy medium" where output and prices are constant, and there is no surplus in supply, but also no deficit. Supply Side economics emphasized the supply of goods and services. Supply Side economics supports higher taxes and less government spending to help economy. ... Wordcount: 536 Pages: 2
The Economics Crisis in Indonesia
The Impacts of Economics Crisis in Indonesia The economic crisis, which hit Indonesia, began in Thailand in June 1997. It rapidly spread, causing stocks to tumble and many Asian currencies to fall, the worst of all the Indonesian Rupiah. Indonesia"s worsening economic situation is mainly due to the sharp depreciation of Rupiah against the US dollar. Being out of our government"s control, the Rupiah keeps on sliding further and at its lowest point touched a level of Rp. 17,000 agai ... The Impacts of Economics Crisis in Indonesia The economic crisis, which hit Indonesia, began in Thailand in June 1997. ... Wordcount: 759 Pages: 3