Economic Growth and Poverty Gap Essay

In recent years, GDP has been argued as an inefficient way to measure our country’s growth. The article in The New York Times, “The Rise and Fall of the G.D.P.” by Jon Gertner exemplifies to the reasons, which prove GDP alone isn’t enough to measure the U.S.’s growth throughout the year. While on the other hand, Nicholas Oulton provides readers with the evidence showing GDP’s effectiveness in measuring the nations wellbeing in his article “Hooray for GDP! GPD as a measure of wellbeing”.…

and increase sales for the company. Once they have established their name and have developed enough revenue to be financially stable, the company could make the decision to expand internationally. With markets in other countries they may see more growth and continued interest in their brand. With that being said, the company could also increase the…

Credible commitment in India’s economic success In the 1960s and 1970s, the Indian government followed a command-and-control regime that makes an atmosphere of mutual distrust between the political and economic elites, and the government had a strong anti-business attitude (Kohli 2007). With a change of government in 1980 and the return of Indira Gandhi as Prime Minister, the promotion of economic growth became the focus of the government’s economic policy, leading to a growing alliance between…

Over the past 30 years, China has witnesses a continuing transition a capitalist political economy with a highlighting on market competition, international economic integrations and capital accumulation. In other words, It has opened its door to the direction of liberalization. Therefore, China requires to join the WTO for the demand to open its markets in anticipation, which is a new program of legal reform…

third-largest by purchasing power parity, or PPP. With its average annual GDP growth rate of 5.8% over the past two decades, and reaching 6.1% during 2011–12, India is one of the world's fastest-growing economies. However, the country ranks 140th in the world in nominal GDP per capita and 129th in GDP per capita at PPP. Until 1991, all Indian governments followed protectionist policies that were influenced by socialist economics. Widespread state intervention and regulation largely walled the…

Review Paper : The Stages of Economic Growth After the World War II, the idea of ‘development’ became major concern of many countries and international organizations. Many researchers try to figure out how development works and how this process could help modernization process in the world. Walt Whitman Rostow in his article ‘The Stages of Economic Growth’ also try to figure out how economic develops. In his article, Rostow (1959) argues that economic growth in modern world is not a continuum…

the Endogenous Growth Theory. The Endogenous Growth Theory sought to explain the source of technology. This was a key driver in economic growth. Before Kenneth suggested this theory it was assumed that it happened outside of the economic system., economic activities, and economic models. From Arrow’s research they were able to figure out that the technical change was caused by economic actors. Thus the technical change belong in the model. From this it provided economic reason for firms to…

the cities. This report will discuss the economic development goals of the two cities with emphasis on how they compare and contrast to one another and will determine the desirability of living in each city. To begin, I find it easiest to compare the cities’ similarities. Both take advantage of their geographical location. Their close proximity to Los Angeles makes manufacturing much more feasible than some other cities. Also, high…

Often, economists have skirted around the economic impact that geography plays for developing nations. For many of these countries, their location contributes to the prevalence of tropical diseases. In order to overcome this obstacle, a developing country should focus its efforts on expanding the nation’s healthcare infrastructure by constructing a network of accessible and affordable medical and emergency services and dedicating resources to the research and development of vaccines against…

northern and southern states fought. The northern Union states defeated the Confederacy states (slave states) (Yang 2012). The second one is the Great Depression that occurred in 1930 whereby 25% of all the citizens of the country lost their jobs in the economic downturn (Mundi 2015).…