Behavioral economics

One of the biggest debates pertaining to criminology is whether or not people are truly responsible for their criminal actions. Throughout history, criminalists attempt to answer that question in order to find a solution to control crime. There are two dominant thoughts on the subject; the Classical School version and the Positivist School version. The Classical School version is based on the premise that crime is committed through free will and rational thought; leading to the conclusion to do…

1.0 Introduction The goal of this essay is to trace the strategic change and directions of the Virgin Atlantic. The Virgin Atlantic is one of the leading private enterprise in the UK. Its growth since inception, has been marked with fluctuating financial performance. In the last ten years however, the growth of the company has been inconsistence with the period between 2012 and 2015 experiencing poor financial performance (Hollinger and Wild, 2015). This led to strategic moves like…

Comparative Advantage Most people carry out economic concepts in their day to day lives without even noticing it. Comparative advantage is the economic principle in which a person provides a good for a lower opportunity cost than another person. Although it sounds confusing, this principle is applied by everyone from the small schoolhouse teacher to the big business C.E.O. In it’s simplest terms, comparative advantage is just being able to do something better or cheaper than someone else. So…

Nationalism and Marxism are two of the most influential ideologies in the 21st century. Nationalism is the patriotic feeling and principles of that nation . Marxism is the political and economical theories of a nation based on past events and ideologies of the community. Back in the early and late 1800’s slavery was a huge issue that boomed in the north and south. These were very prominent in African American literature because it showed the difference in culture, what racial equality was back…

because the opportunities given to them back home is not as good as the ones in these richer countries. Therefore The Economist points out that immigrants should be allowed access to these richer countries because not only do they help improve the economic system, but it could also increase the diversity of these countries. Given the United States is already a heavily diversified country, some places like Germany, Japan, Great Britain, etc., are not as diverse. Yet, if they are keen on opening…

In the chapter “Economic Control and Totalitarianism” from the book The Road to Serfdom, the author F.A. Hayek, talks about the differences between an unplanned and planned economy. Hayek goes on to explain how a planned economy could hinder people’s opportunity to be individualistic and part of a sound society. Hayek talks about how in an unplanned economy, everyone can make it and have the right to be individuals. He also scrutinizes planned economies for being too over bearing. With these…

The improvement of the contemporary civilization has a tendency to increase the impact of capitalism on social relations, subculture, and values of societies. In this type of scenario, the development of the modern society leads to the weakening of primary ethical values and to the dehumanization of interpersonal relationships, while consumerist and commercial relationships grow to be a determinant factor in social relations. On this regard, it is conceivable to consult the book What Money…

The video Entertainment, Consumerism & Social Control: A Simple & Fun Introduction captures the social control that the “One Dimensional Man” by Marcuse is getting at. Marcuse explains that society did not develop as Marx predicted, and individuals bought into the idea of consumption, which is alive in our culture today. The consumption of products distracts us from the reality of what class we belong to. He also brought up the idea that people weren’t aware that they were not in control when it…

Tragedy of the Commons: The Lorax meets the Dakota Access Pipeline The tragedy of the commons is an economic problem popularized by Garrett Hardin in the late 1960s. This widely accepted theory states that “every individual tries to reap the greatest benefit from a given resource. As the demand for the resource overwhelms the supply, every individual who consumes an additional unit directly harms others who can no longer enjoy the benefits.” (Investopedia) This theme of greed is present…

In Nickel and Dimed, Barbara Ehrenreich’s experiment to prove that fair wages, overtime pay, retirement funds, and health insurance are crucial for a person in this economy. She forced her to adapt to the lifestyle of the working-poor: how they live, eat, and performed in their daily lives. To exemplify the struggles endured in order to keep up with a society, where the rich get richer and poor get poorer as they travel with no way out form the bottomless pit that is the lower class. Many…