Macroeconomics

Michael Chossudovsky, The Globalization of Poverty: and The New World Order, Pincour, Global Outlook; 2nd edition (September 9, 2003) ISBN: 0973110910 The Globalization of Poverty and the New World Order is based on Canadian Economics Professor Michel Chossudovsky’s actual experiences. Professor Chossudovsky, prior to writing this book, had spent decades researching and teaching around the world in places such as Latin America, Africa, the Middle east and Eastern Europe. Having first hand…

I have read, not skimmed 100% of the Wheelan book. From reading “Naked Economics,” I was able to better understand various concepts in economics and how they apply to the world today. In particular, I learned about tax policy, price discrimination, productivity, and globalization which has allowed me to better understand how economic policies affect my life and the world around me. I thought it was interesting when Wheelan mentioned that the best public policies economically are those that…

This paper will describe and critically evaluate Simmel’s concept of money as a crucial feature of social life. In particular, to show how the concept and value of money has changed over time, an historical and sociological context will be taken into consideration. Thus, the analysis of how society conceived money economy in the past, and of how money is conceived in the present instead, will demonstrate also an awareness of the development of sociology as a discipline itself. In addition, the…

Daniel Fusfeld (1988, pp 264-265) took a General Economic History class under Karl Polanyi at Columbia University and offers some insights into Polanyi’s economic thinking. Fusfeld places an emphasis on two central concepts Polanyi utilized in substantive economics, and “great transformations” which have transmuted economic systems throughout history. Polanyi’s teachings offer a window into how societies have arrived at capitalism as well as how values have changed and transformed the concept of…

Introduction An article written by Eduardo Porter and published by The New York Times titled, “Tax Cuts, Sold as Fuel for Growth, Widen Gap Between Rich and Poor,” describes both the relationship between tax size and tax revenue, as well as the trade-off relationship between efficiency and equity. Arthur Laffer, the creator of the “Laffer Curve,” introduced the idea that decreasing the size of a tax will eventually lead to an increase in tax revenue (Porter, 2017). This idea is vital to…

Question 2 Critiques of Keynes by Hayek (political), Pigou (theoretical) and Friedman (empirical). In his general theory of employment, interest and money, John Maynard Keynes argued that crisis and instability in the market cannot be sufficiently be mitigated by free market forces. According to his theory, full employment cannot be achieved by the competitive forces in the market. What this implied is that the market needed a third hand of the government to correctly fix the volatilities in the…

2.3. ECONOMICS INVOLVED (a) (b) (c) FIGURE 2.6. (a) Demand Relationship (b) Supply Relationship (c) Demand and Supply Relationship Therefore, it can be said that price is the reflection of demand and supply. It is believed that behind the allocation of various resources underlies the relationship between these two (demand and supply). For example, if there is a shortage of oranges in the market, their price would increase. This reason behind this is the reduced supply and increased demand for…

Pareto optimality is a tool used by normative welfare economist who measures welfare in terms of preference satisfaction. This tool is used for assessing social welfare, resource allocation and to analyze public policy. It was a principle proposed by Italian economist and sociologist, Vilfredo Pareto in order to make high levels of inequality justifiable. An allocation is said to be a Pareto improvement if no alternative allocation could make at least one person better off while not making…

Edward Glaeser, author of Triumph of The City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier, and Happier, is a very educated man. He is an Economics Professor at Harvard University, and a senior fellow at the Rappaport Institute for Greater Boston. Glaeser studies housing, economics of cities, segregation, obesity, crime, innovation, and several other subjects. He is a columnist for Bloomberg View, and writes about his studies. Glaeser’s theme in this book closely…

Write a detailed, concrete, and comprehensive essay about the rise of Fordism and how Fordism dealt with the accumulation crisis that engulfed the capitalist world in the 1930s. Discuss the market and extra-market arrangements and institutions, laws, habits, norms and practices, and the mental conception of the world that shaped Fordism. Explain the specific ways Fordism addressed the problem of production and realization of surplus. Elaborate on the particularities of capital/labor relations,…