Economic integration

China 's unemployment rate has remained questionably stable at around its current level of 4.1% for the last decade or so. Unemployment rate only increased to 4.3% even when an estimated 20 million migrant workers were laid off during the global economic crisis in 2008. The reason behind this is because the official unemployment figures only includes urban workers who registered themselves as unemployed. Less than two thirds of the urban working population in China are made up by urban workers.…

distinguished by lack of political connections. This creates a conflict where a crop of people controls the economic factors therefore reducing other’s growth. Just like the case in Annawadi, the role of the government in these aspirations is evident. Osnos gives the case of the repressive Chinese government that oppresses on people…

Bureau of Economic Research (NBER). Within the National Bureau of Economic Research their Business Cycle Dating Committee handles this job. The NBER has come to define this period of substantial economic decline as a recession. However, the official definition the NBER uses for recession is “a period between a peak and a trough where, a significant decline in economic activity spreads across the economy and can last from a few months to more than a year.” The aforementioned decline in economic…

Adam Smith Background In the world of economics, Adam Smith stands out as dominating, central figure. Numerous commentators have often referred to him as the founder of modern economics; essentially the reason why free trade exists (Schumacher, 2012). But as Henry (2000) provides, the position occupied and articulated by Adam Smith in the development of economic theory is of precarious enjoyment, mainly because some of his works essentially contain dangerous elements that are evidently innate…

WHAT FUTURE DO YOU SEE FOR MEDICINE IN THE UNITED STATES? Over the last one hundred years, there have been many changes to medicine and the health care system in the United States. Through these changes, we have made many technological advances and have cured many disease. With these changes, we have also been able to find a way to make health care more affordable for most Americans. However, there are still many who lack access and necessary funds and this is where I see the future change.…

Economics is the study of how a society distributes its resources. As indicated by the fact that it is still studied, it is not yet a solved field. Were there an answer, regardless of the complexity of that answer, no one would study it aside from those who needed the details to keep this perfect system running. One of the major roadblocks to solving the problem of the distribution of resources is the efficiency versus equality trade-off. But before diving into the issue, there are some terms…

Political-Economic Stances on Social Security: Liberalism and Social Democracy By merely glancing at political systems across the world, it is clear that politics and the economy are inextricably tied. Both are institutions that maintain a balance between freedom and equality, and both are associated with a variety of ideologies regarding what the best balance is (O’Neil 2013, 101 & 112). We often see how politics and economics influence each other, with economic regulation in policy, and a…

Representative, Secretary Jacob Lew to reduce the threat through economic means. Currently, “The United States does not take a position on the sovereignty of any of the land features in the South China Sea, but we do believe that all claimants should exercise restraint as we go forward” (U.S.-China Press Statements). We can restrain their claims by becoming better economic partners or through use of economic force such as economic sanctions. China’s territorial expansion can be shown through the…

world’s leading economists and economic historians. By utilising her knowledge and education in economic theory and quantitative analysis, Professor Goldin has made a series of outstanding and original contributions to the application of economic theory and quantitative methods to the study of history. Professor Goldin graduated from Cornell University in 1967 with a BA in Economics (Magna Cum Laude) before completing her Masters in 1969 and PhD in 1972 degrees in Economics at the University of…

Scarcity is a key concept in economics and it is viewed as being a huge problem within economics. Scarcity refers to a situation where demand exceeds supply and this can apply to anything from consumer goods to raw materials. (financepractitioner). For example, scientists suggest that crude oil can run out in the near future due to the high demands for it but a lack of supply of it which suggests that crude oil is a scarce resource. Another example could be housing in the UK. There are high…