Externality

empowers major corporations, both in the North and corporations run by elites in the South, to further deteriorate working wages, standards and well beings. Profit has been shifted above people, and many are seeking an alternative to these negative externalities. The alternative in this case, is more of a redirection rather than a complete dismantling of the current market economy. The social economy aims to make the market more human. In this case analysis, the concept of social economy as a…

In what ways are technological advancements in the online marketplace effecting the usage and importance of physical brick & mortar stores? The high street throughout history has been the key to many thriving and successful towns. It’s the small local stores which sell products and services which have been the back bone to many communities in providing occupations as well as places of cultural and social value (Great British High Street, 2013). However with the rise of the internet within the…

However there are now ideas used by fiscal policy other than demand management such as the distribution of wealth and fixing free market failures such as externalities. There are a few ways in which an expansionary fiscal policy method can increase the output of the economy. These can be done simultaneously or one at a time depending on the impact the government would like to have. A method of what the government…

and constraining upon the individual. These structures are the collective standards, the norms and the rules of behavior within the society. Durkheim called these rules as ‘social facts’. The main two characteristics of the social facts are their externality and their constraint. People have not the free chose of behaving, but they should to confront to the…

In the article, Beyond the rationality of economic man, toward the true rationality of human man, by John Tomer, we once again see the argument of what rationality truly is come to light. In this particular article Tomer stands on the side that mainstream economics and the idea of economic rationality is not a complete rationality. He goes on to explain that true rationality will be a combination of bother instrumental rationality and rationality of ends (Tomer 1704). The combination of the two…

The Great Recession began in December of 2007 and continued through 2010. This all began with the bursting of the housing bubble. The resulting loss of wealth led to sharp cutbacks in consumer spending. This loss of consumption, along with the financial market chaos triggered by the bursting of the bubble, also led to a collapse in business investments. As consumer spending and business investments dried up, massive job loss followed. In 2008 and 2009, the U.S. labor market lost millions of…

Inspired by Rachel Carson’s Silent Spring and the 1969 oil spill in Santa Barbara, Gaylord Nelson, then a U.S. Senator from Wisconsin came up with the idea for Earth Day. First celebrated in 1970, Earth Day has caused meaningful legislation to be passed, unification of environmentalists, and the “birth of the modern environmental movement” (“Earth Day”). As with most other topics and issues, much of the public’s concept of the environmental movement comes from its portrayal in the media. In…

with little white boys and white girls as sisters and brothers” (King 854). Equality in education is especially valuable, since it is most impactful when fostered in a nurturing environment; being surrounded by people that disapprove one for his externalities hinders the growth of the individual. As King expressed, “Now is the time to lift our nation from the quicksands of racial injustice to the solid rock of brotherhood" (852). There is the need for strong foundations in school systems to…

%To summarise, in such an approach, rewards act like an increase in the noise/signal ratio or even a change in the sign of the signal, and the resulting crowding-out of the reputational (or self-image) motivation to participate can make the aggregate supply downward sloping over a wide range, with a possible sharp drop to zero. What are the implications of such an analysis of the interaction between incentives and social norms? First, material incentives such as prizes or the law are not very…

The topic of gay marriage has been widely controversial over the years. Proponents of legal gay marriage believe that gay marriage bans are discriminatory and unconstitutional. They believe that all humans are entitled to equal rights regardless of their sexual orientation. Opponents believe that marriage is traditionally defined as being between one man and one woman and its primary purpose is for procreation. Although the US Supreme Court ruled that gay marriage is a protected right by the US…