Economics

needs of its economic people. An economy must decide what scarce resources it will use to produce, along with whether it be a good and/or service. After selecting which resources will be produced, an economy will need to decide how it will produced, which may be labor workers, machines or a combination of both. From there an economy should then decide how these produced goods/services can be distributed to the people of the economy’s society. Answering these three fundamental economic questions…

This paper aims to portray the world system as a primary cause of global economic inequalities. First, it will introduce Marxism, which would be used as a theoretical framework for subsequent analysis of how the world system is the primary cause of global economic inequality. It will then move to the contemporary global political economy and then illuminate the extent to which Marxism explains the phenomenon of global inequality and the relevant Marxist argument about the consequences of global…

Development and Economic Growth Financial growth is the change in the financial system regarding size and structure. Nonetheless, financial deepening expresses the share of the money supply of national income, and it becomes a standard of economic development and financial instrument variety (Saltoglu, 1998). Mercan and Gocer (2012) work on the panel data analysis using the annual data for the period from 1989 to 2010. They establish that the impact of financial development on economic growth…

One of the main questions currently circulating economic forums is: does income inequality hurt economic growth? Main concerns about global increases in income inequality have motivated nations to study the potential impacts on societies and economies. According to the Organization for Economic Cooperation and Development, OECD for short; one of the resounding conclusions is that poorer members of society are less able to invest in their education. The OECD consists of 34 democracies with market…

more equitable world society. As sustainability includes different issues, is often difficult to define precise terms of it. Considering the Venn diagram, sustainability can be described as the intersection of three main issues as environmental, economic and social issues. Sustainability Venn diagram Depending on the domination of one factor than the other factor, the circles can be in different sizes. Some business leader prefer to show…

Health Care Economic Summarization Today, legislation focuses on improving care and the overall effects; health care cannot financially sustain itself unless continued cost-effective methods are applied. The continued rising costs in healthcare are evident in studies conducted in targeted areas; health care spending, managed care, and illegal immigrants receiving services. The following provided summarizes the critical areas in need of improvements and continued cost effectiveness analysis to…

point of view that tends to emphasize the economic aspects, such as capitalism, industrialization, and the theory of modernity as the center of development process. In the process, it can be said that there are two camps that have formed a different perspective in explaining the process of demographic transition. As a consequence of these differences, the two camps also offer a different perspective on how the relationship between human development and economic development, two crucial indicator…

With the presidential election becoming closer, the possible candidates have various views on the topics in government. Two of the more important topics in my opinion are economic inequality and healthcare. Economic inequality is a growing concern among most of America, as the middle class wages are steadily declining and the upward mobility of children born in poverty is stagnant. As a biology major, the issue of healthcare is extremely important to me as I continue to hear that the current…

factors that would see an influx of immigrants, reflected in San Antonio diverse population. While I did not deal with a large immigrant population in my service learning, I can see this occurrence in my daily life, meeting individual who left the poor economic conditions of Mexico and even Jamaica for better opportunities here in…

The Classical Model is an economic model that “was the first systematic attempt to explain the determinants of the price level and the national levels of real GDP, employment, consumption, saving, and investment”. (Miller, 2016) It is a model that implies that an economy is self-regulating and that the supply of goods is proof of their demand. It is based on the idea that the market is always at, or near, real GDP and that the market itself will work to bring the economy back to the real level…