September 1st, 2010
admin
Our tax money is spent for many things these days, and I feel it would best be spent rebuilding and updating our power grid, rather than the space program.
The space program is all right, but unless we think of something fast, I believe there is not really too much of a purpose for us to be wasting our tax money on space. If God wanted us to go deeper in to space, he will do so when the time is right. So the time shouldn’t be with our tax money. The power grid on the other hand is something worth while. It will not only benefit us now, but also in the future. It will help us out, so that we do not have power shortages like we had in the recent month.
If the whole United States had decent electricity outlets that were newer, and would stand some test over time, we would not have to worry about them breaking down as often and the like. Plus if the whole U.S. got new sources for power, that would mean we need more people to fix, inspect, and all that good stuff, thus creating new, and more jobs. Hopefully giving our economy a little boost. If the power grid was updated no one should have to worry about wasting their money, so that their meat would spoil overnight, and that they wouldn’t have to live hours, or even days in darkness. Read more…
Since the beginning of modern history the world has changed significantly due to advancements in communication and transportation technology. Today, for example, the ability to effectively deliver a message to a recipient thousands of miles away using the Internet and other telecommunication networks has had a profound impact on business performance. Similarly, the ease in traveling to desired locations, near and far, by air transport has also had a positive effect on the entrepreneurs capabilities in trade and commerce. Domestically and abroad, this expediency of movement and transaction has become known and termed as Globalization. Globalization has significantly contributed to a high standard of living in the West by providing developed countries with goods that necessitate and promote wealthy lifestyles. Americans, specifically, have been the subject of mass marketing and seemingly over consume goods that other countries desperately need for survival.
The earliest form of globalization existed in the colonial expansion of world powers such as Britain, Spain, Portugal, France, Italy, and Germany. The goals of these nations were to expand into larger areas such as Africa, South America, the United States, Canada, and countless Caribbean Islands in an effort to acquire capital generating resources of land and labor. Read more…
During the Gilded Age many people became extremely rich and kept getting richer and richer, while on the other hand the poor just kept getting poorer during this era. The economics during this time period was an essential of being categorized as a “well known” citizen or a “common” citizen in society. The line between the economic classes was drawn very distinctly at this time in the world. In “The House of Mirth,” by Edith Wharton, this fact of economic segregation is brought to ones attention several times. Edith Wharton shows this separation especially when it comes to the women characters in the book and how they interact in society. Wharton shows the differences between economics and women through the main character, Lily Bart, and how she is a slave to money, also the truth about how women during these times are dependent on the males in their lives to support them, and how Lily’s family views money.
Lily Bart is the main character that throughout the entire novel is caught between the economic strain in her life and happiness. Lily Bart has never been around a lot of money while she was growing up, but the entire story is about her trying to be something she is not. This is a huge irony in the story because Lily thinks she has freedom when she meets a man that is wealthy, but she is really hurting herself because she will never be truly happy with someone like that. The other side to this irony is that when Lily gets farther and farther into debt she feels that she enslaved. This comes when she meets men that are not up to the standard of living that she wants them to be at. Read more…
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 America in its hour of need. During the 1920’s, the U.S. experienced a stock market crash of enormous proportions which crippled the economy for years. Keynes knew that to recover as soon as possible, the government had to intervene and put a decrease on taxes along with an increase in spending. By putting more money into the economy and allowing more Americans to keep what they earned, the economy soon recovered and once again became prosperous. Keynes ideas were very radical at the time, and Keynes was called a socialist in disguise. Keynes was not a socialist, he just wanted to make sure that the people had enough money to invest and help the economy along. Read more…
Economic welfare is the base of two parties in trade. It can be quantified as the sum of consumer surplus and producer surplus.
Consumer surplus is the amount that a buyer is willing to pay for a product minus the amount the buyer actually pays while producer surplus refers to the difference between the price that a producer is willing to accept and the actual price. As we can see from figure 1, consumer surplus is the area below the demand curve and above the market price. However, producer surplus is the area above the demand curve and below the market price. Needless to say, the sum of the two parts is called economic welfare. Economic welfare will change while the market structure changes. In this essay, I will analyze how economic welfare changes if a market structure changing from perfect competition to a monopoly. However, whether the monopolist charges a single price or a multi price will affect the outcome.
Generally speaking, perfect competition is a market structure where there are a large number of firms and any individual firm, or any individual consumer, will have no effect on market price. It can exist in a market only if the following conditions are satisfied. Firstly, there are a lot of buyers and sellers. Secondly, buyers have perfect knowledge. Furthermore, units of the good sold by different sellers are identical and last, there are no barriers to entry into or exit from the market. Read more…
