Essay on Inflation

In the introduction to her book “Shock Doctrine: The Rise of Disaster Capitalism” (2007) Naomi Klein illustrates how governments take advantage of natural or man made disasters to introduce exploitive policies and other changes in country while its citizens are still in shock and have to deal with the crises at hand. I agree with Klein’s statement that countries often use Shock Therapy to deal with crises and in my essay I will specifically look at financial crises. The argument I use to support…

In his work The Wealth and Poverty of Nations: Why Some Are So Rich And Some So Poor, Landes offers an extensive overview of the history of global economy as he investigates the factors that create disparities in the prosperity of nations. In doing so, Landes employs both theoretical and empirical cases of the economic development that various states have gone through over the past two thousand years. Throughout his analysis, Landes uncovers an interaction between technological progress and…

Equilibrium unemployment and disequilibrium unemployment are the basic categories of unemployment to apply on the total labor that the whole economy has (Sloman). Equilibrium unemployment is the difference between people that want to take the job they are offered and people that are willing and able to take the job. Disequilibrium unemployment occurs when the aggregate demand for labor is less than the aggregate supply of labor. Recently an analysis conducted by the Bureau of Labor Statics of…

The word jobless is infact a common word in every society especially with the recent economic crisis that has hit the world. The word, Jobless relates to those who have no job or unemployed or it could be used to refer to a group of people who are not employed. Joblessness happens. We don’t wish or pray for it but it does at some point in some people’s career. It is usually happens when it is least expected most times. You could be jobless after graduation from school or sacked after working…

PESTEL 1. Political – “significant delays in the delivery of cargo due to security considerations; and economic and political conditions or terrorist acts, or other problems in countries from or through which merchandise is imported and exported.” (Page 14) West marine is sometimes faced with dilemmas that delays merchandise that is imported and exported due to occurrences beyond west marine’s control. This leads to a series of issues that can lose revenue for the company. The countries in…

Have you ever wondered how people with difference careers communicate and express how they feel about what they do, how they do it, or what impact they have in society and how it relates to our education? Experts from different fields might study and approach current issues. My issue is: poverty. First, we must understand what an Economist is. An Economist is a Social Scientist, expert in economics. According to “What is Economics”, economics is “the branch of knowledge concerned with the…

China, once a world superpower in an economic sense, has begun to relinquish the crown, due to a slowing economy. Over time China has shifted from a communist economy to a consumer-led economy. The transition, as vital as it was, lead to a decline in the flourishing economy. Despite many opinions on the implications of this transition, it is not necessarily a negative event, depending on the frame of reference used when analyzing the situation. China’s economy may be slowing, but it remains a…

1) Assume that the demand curve for an imported candy bar can be expressed as € PD = 4.60 − 0.0001Q, and the supply curve can be expressed as € PS = 0.2 + 0.0003Q. a) What is the price and quantity at which the market clears? The price and quantity at which the market clears is $3.50 and 11,000 respectively. b) What is the value of the consumer surplus and the producer surplus in this market? The consumer and producer surplus are $6,050 and $18,150 respectively. The overall benefit to society…

Most people wrongly assume summer to be the most popular of the four seasons, but it is really fall that the American population look forward to most, according to Simon Nygeuen’s poll that asked 8,000 Americans which season they loved the most, in which over half of the votes went to autumn. And who can blame them? With bewitching scenery, tranquil weather, and an assortment of fall-related festivities around every corner, what’s not to love about autumn? The fall equinox officially begins in…

Ticket scalping has been around for many years and is defined as ‘an unsanctioned ticket investor who purchases tickets to an event and resells them at raised prices.’ The action to ‘scalp’ has been referenced as early as 1869 in American English to theater tickets but mostly to that of the 19th century referencing railway tickets. A scalper was a common utterance for “con man or cheater” in the late 19th century. (Scalper) The second-hand market grew exponentially as opportunists realized they…