Macroeconomics

Thomas Malthus and David Ricardo on the Glut in the Economy Introduction: Today, when totalitarianism is challenging democracy through potential productive power, it is ideal to re examine the differences in opinion of Thomas Malthus and David Ricardo, with respect to their debate on the possibility of economic stagnation, variously referred to as, over-production, under-consumption, or, as Malthus termed it, general glut in the economy. On Population: Adam Smith arrived at an optimistic…

Money is affected by several circumstances, often by the economic relationship and security of a nation and its people (Bradley, 1993). Bill Bradley, a former United States senator from New Jersey, describes “four fundamental transformations” that frequently occur across the globe. The second fundamental transformation involves world markets and competition in goods. Bradley explains that as other countries represent “billions of potential sales… it also means a billion more workers ready to…

Comparative and Absolute Advantage This paper analyzes and compares the economic, political and cultural development of three countries; Australia, USA, and Canada. Further presents on measures of economic growth, comparative and absolute advantage in international trade. Economic statistics of the country, and reasons why their economy varies, and effects of international trade on their economic strength. Finally, analyze products that give the countries absolute and comparative advantage as…

INTRODUCTION 1.1 INTRODUCTION Transport is an important part of India's economy but it is of low and inadequate standards as compared with international standards. Due to economic liberalization, infrastructure development has progressed rapidly; today there are variety of modes of transport by land, water and air. However, India's relatively low GDP per capita has meant that access to transport has not been uniform. The main problem is that the land mass is limited hence the roads cannot…

3. Exhaustion of the sugar agro-export model The sugar industry was for many years the key player of the national economy, where most of the investment and credit were concentrated and where most foreign exchange and tax revenues were generated. If production and sugar prices raised much, there were enough foreign exchange to import consumer goods for the population and inputs and techniques for businesses. In turn, the bank recovered loans and the government raised its revenue. In other words,…

The information provided in the Summary of Evidence indicates that both perestroika and glasnost significantly contributed to the fall of the USSR. From an economic perspective , perestroika - meaning "economic restructuring", was introduced and launched in 1986. This policy included several radical changes that would better improve the economy. Unfortunately, perestroika was almost a disastrous failure, and arguably the biggest one of the Gorbachev's reforms. An important aspect of this…

1.1) Unemployment rates with regards to general population have decreased by 1%(27,7% to 26,7%) between the 3rd and 4th quarter of 2017. This is due to more jobs being created and more international businesses expanding in South Africa such as Starbucks and Domino’s Pizza. Even though a decline was experienced in the unemployment rate across all age groups, the youth has the highest unemployment rate of 29,7% which is the equivalent of approximately 3,1 million people. 1.2) Social factor: The…

Over the last years, the tourism industry has played a significant role in the economic growth and development of numerous countries. This field represents the third largest economic sector in Europe, as this area is one of the most important tourism regions in the world and it generates more than 4% of the European Union GDP. However, the tourism industry has faced numerous challenges, from environmental disasters to globalisation, and specifically the financial crisis that started from 2008…

The Saudi Arabia economy is one of the most robust economies in the world. Saudi Arabia's growth in real domestic product {GDP} came in third after china. The rate of inflation has remained high comparing to other countries. The rate of inflation was 4.17% at an average. The problem of inflation is worse than what people think. When we look at the divisions like living cost, The non-governmental agencies have claimed that the real inflation in the country is much higher than the official rate.…

Through the research, the welfare of European Union not only have the advantageous, but also have the disadvantageous. From the research, I find some tables to support my points about the high welfare give a heavy tax for the government to stop the development of government and some citizen become lazy and do not want to have a positive life. They become more and more idle because the high welfare-they do not have to work and they can get the cash from the government. This increase the percent…