Economics

In 2007, towards the end of President George Bush’s presidency, America faced its worst economic crisis since the Great Depression. Called the Great Recession, (December 2007 - June 2009), the crisis caused a decline in economic activity, soaring unemployment rates, and the failure of key businesses. When President Bush left office in 2008, the country was still reeling from the crisis and recovery attempts were just being implemented. Unsurprisingly, a key part of then presidential candidate…

The issue of the death penalty and whether or not it is an efficient crime deterrent relates to economics because in order to truly answer the question, one must weigh both the marginal costs and benefits of this practice. Using economic analysis, one is able to gain a better understanding and look into the benefits and costs related to the death penalty, and ultimately are able to determine whether or not the death penalty is an efficient deterrent. When weighing the two different sides of…

Health personnel need not learn a great deal of economics in order to understand some of the basic ideas of health economics. What is more important than any particular piece of knowledge is to understand how economists think, particularly how and why they think about markets. Health economics emphasizes some market failures which lead to poor health outcomes or high costs or both, and it concentrates especially on issues of how health care is paid for - the sources of funding, the pooling of…

The city of Newark does Economic Development differently and they are succeeding. Cities across America try to lift the stigma of poverty and decay in urban blighted areas. By bringing vital businesses and project to their cities, metropolitan areas improve the future, reputation and vitality for years to come. Newark has the largest population in the state of New Jersey and overall ranking of 67th in this nation. It is a major hub for air, rail and shipping. The growth possibilities are…

(Best) With Inequality for All addressing the economics America, we can see that economics is socially constructed. People made America and they also created its many problems. This makes economic inequality (which Robert Reich speaks of) a social problem. A very serious social problem at that, economic inequality affects everyone. From the poorest too the richest, our economic structures have been built unfairly. More taxes on the middle class and much less on…

The primary thesis of this paper is that Neoliberal Economic Principles do not yield the highest productivity in corporations, and this system must be altered. This research is important for workers to understand because they are directly affected by this principle. Neoliberal work practices are becoming prevalent in almost all corporations in America. Its basis rests on the belief that economic productivity increases when there are no regulations on the market, and workers are utilized to the…

the goods and services that they as a society require.” His ideal of laissez faire economic later on sparked the idea of free market. Karl Marx Karl Marx believed that capitalism would bring about instability, struggle, and decline, which is why he came up with a new economic theory. According to him, capitalism exploited the working force by being profit-oriented and paying workers extremely low wages. Marx’s economic theory, Marxism, is the system of socialism of which the dominant…

From Kenia to Germany, South Africa to the US, the gap between rich and poor has been rapidly increasing, and economic inequality has reached extreme levels .In the recent presidential election campaigns, Hillary Clinton, for example, wants to increase the taxes for Americans in the highest tax bracket in order to reduce the gap between rich and poor. The World Development Report of 2006, published by the World Bank, states that seven out of ten people live in countries where the gap between…

Increasing numbers of two-income households is an economic trend in the United States. Individuals place a premium on time. Improved customer service, immediate availability, trouble-free operation of products, and dependable maintenance and repair services are becoming more important. People today are more willing than ever to pay for good service if it limits inconvenience. Economic factors have a direct impact on the potential attractiveness of various strategies. For example, when interest…

Economic, Social & Environmental impacts of Tourism in Thailand Nowadays Tourism generates a significant portion of its national income for many counties. Thailand is not only a very popular tourist country but is also one of the biggest tourist destination. Thailand’s tourism industry started growing faster since 1987. In current years, the international tourism market provides an enormous opportunity for further progress, with benefits and drawbacks that influence on economy, society and…