Economics

Economic liberalization and globalization have introduced Indian society to the global market in which India has developed a transnational labour force in technology call centers and an increasing consumer market within major urban areas. Furthermore, through globalization India has experienced large-scale diasporic emigration to European, South East Asian, Middle Eastern, and North American countries. Globalization has drastically altered manner in which labour is organized worldwide. This…

In a raw, uncut straight the point view on economics Author Henry Hazlitt book Economics in one lesson points out the fallacies of the current economic state of the country. Mr. Hazlitt describes multiple down coming of government involvement in the economy and how these down coming affect the overall health of the economy. Drilling down into each chapter and subject giving further explanation of the overlooked problems of the economy. The art of economics, the broken window, Public works mean…

tiny pieces to form a greater picture that would be both pragmatic and unprecedented. My first economics class offered me a problem where the solution seemed rather straightforward yet the more I thought about it the more there was to the story. The way I thought money had a role to play in society was far different from what I had originally perceived and that interested me into the field of economics. Its promising future alongside traditional approach offered an excellent opportunity to…

conducive to financial crises. The collapse of the Gold Standard, the Interwar Period, the collapse of the Bretton Woods system, and the 2007-2010 recession have all been crises that have shaped the international monetary structures. The misuse of economic fundamentals is the key reason for how and why financial crises occur. The Gold Standard was adopted…

fill up the vacuum of fewer people? What about old people who in general are less productive and the Western world are indeed getting older every day. We must accept that we are confined to very low growth rates for a long, long time. Exponential economic growth, with no increase in population means that the current population needs to do one of two things and most likely a combination. 1. Prices will go up which gives a false sense of growth only prices grow not the goods/services 2. People…

Economic Analysis of the Consequences of Corruption I. A Reduction in Investment and Capital Inflows Both Lambsdorff (n.d) and Tanzi (1998) are in agreement that corruption reduces the attractiveness of a nation to investors. Investors in this case should be understood to be both domestic and foreign. To this effect, Lambsdorff (n.d) affirms that corruption increases the risk factors of a nation, which are taken into account in determining the economic viability of a particular country as a…

In this article written by Kenneth Arrow, there are several terms that relate to the Economics of Health and Medical Care. This article was published in the American Economic Review, December 1963, yet still has significant information related to today’s economics within the health care system; “the ‘norm’ that the economist usually uses for the purpose of such comparisons is the operations of a competitive model, that is, the flows of services that would be offered and purchased and the prices…

lowest taxes in the midwest, then businesses would be incentivized to relocate to Kansas, and businesses within Kansas, with the extra revenue that they traditionally gave to the state, would be able to hire and expand. Supply-side economics typically argues that economic growth can be most effectively created by investing in capital and by lowering barriers on the production of goods and services. The lower the tax rates, the more consumers would supposedly benefit…

Historically based expectations are based on past events about the future and rational expectations are forward-looking expectations that use available information. Consumer attitudes and expectations are important to economic recovery because consumer spending drives 70% of economic growth ("The Conference Board", 2012). For a lagging economy to grow consumer confidence must increase. The Consumer Confidence Index (CCI), driven 60% by the results from the Expectations Index, is designed…

progress in to business economics because I believe that it is the perfect blend for me, as I have a keen interest for both business and economic sector, so being able to do business economic would allow me to emphasis on the business aspect of economic such as business organization, management, expansion and strategy. Theses factors would allow me to succeed in the pathway I want to go towards and would give me a resilient perceptive on how the business side of economics manoeuvres. My…