Essay on Inflation

John Maynard Keynes, a highly influential economist during the 1930s, developed Keynesian economics in an effort to decipher the reasons behind the Great Depression. (Investopedia, 2016) Keynes’s theory focuses on the short run and can be seen as a demand side theory that saw buying power as a way for a country to evade recession. (Stefano, 2012) In the following essay Keynes’s contribution to the economic theory will be discussed. During the Great Depression, it became evident that the…

Unemployment is usually analyzed at an economic aspect for example the impacts of unemployment on a country’s economy. However this article talks about the psychological impacts of unemployment. Traditionally not much emphasis is put on psychological aspects in economy, but it poses significant threats and so should be studied more extensively. In the article it says that the United States saw its unemployment rate rise to a high point in 2009 and will worsen if left unaided. The current issue…

Capitalism, defined as production for profit for a competitive market - is an economic system in which the private profit-maximization motif lies at the core of its virtues and maladies. In script it is supposed to provide economic opportunities and a better future for all. On one hand both Capitalism and Globalization have been responsible for tremendously reducing the poverty rates over the past 30 years while increasing the life expectancy, morality rates, education and democracy. Capitalism…

Miliangos Case Miliangos was a suit brought in England by an unpaid seller of goods. It was an action for price,, which had been expressed in the contract as an amount in Swiss francs. In its original claim the seller had asked for judgment in English pounds, calculated by reference to the sterling equivalent of the price in Swiss francs at the date that payments should have been made. That is, initially the plaintiff advanced a claim in complete accordance with what was then understood to be…

Law of Supply and Demand — how it applies to all One of the most basic economic laws, the law of Supply and Demand is connected to and is applicable practically into all economic principles in every way. The law of supply and demand explains how prices are fixed for the sale of goods. In its application to the real market, supply and demand pull against each other until the market finds an equilibrium price. Demand is the degree at which consumers want to buy a product. As the Economic theory…

Market Analysis -7Ps Model Firstly, product that company produced is based on the customers demand and the economy. According to statistic that released by Financial Tribune- Iran Customs Administration (IRICA), there will be an increase of approximate 62% year-on-year on the automotive import of Iran. (“Car Imports jump 62% y/y”. Jan 2017). Perodua will pursue cheaper green technologies with its partner, Daihatsu to produce affordable yet environment- friendly compact cars (Rashid, 2010). It…

John Maynard Keynes (1883-1946) is a British economist who is the founder of Keynesian economics and the father of modern macroeconomics. He published his foundational book: “The General Theory of Employment, Interest and Money,” in 1936, years after the great depression of 1929. His theories were largely in contrast with classical economics and they impacted widely economists all over the world. Between the 1970s and the 1990s, after the appearance of new theories in economics, more economists…

Though the speech was written in 1961, Minow’s concerns still have value as of 2014 because it mentions the broadcast on television which is one of the means of entertainment at this point of time. Because the broadcasting station’s revenue mainly comes from advertisement, so the advertiser influences the decision of network on which programs will be aired on television. Moreover, a rating is one of the stations’ concerns; therefore, the quality of program is not as good as “the old days of…

Economic negatives during Reagan’s 8 years, not already mentioned, should include the stock market crash of 1987, the US moving from being the world’s largest creditor to being the world’s largest debtor, and some government domestic programs being forced to face limited funding (Medicaid and Food Stamps, for example). But, in general, most economists stress that Reagan’s policies (especially his tax policies) encouraged economic growth and brought about the economic strength exhibited in the…

Aging population is one of the most significant and challenging issues in most developed countries. In Australia, during 1994 to 2014, the percentage of people aged 65 years and over increased from 11.8% to 14.7%, and the percentage of those aged 85 and over nearly doubled from 1.0% to 1.9% (Australian Bureau of Statistics, 2014). On the contrary, the total number of people aged under 15 years fell 2.8% from 21.6% to 18.8% (Australian Bureau of Statistics, 2014). As the decrease of fertility and…