Market economy

Is there a better quality of life in Johannesburg or Cape Town? Aim: My aim is to determine which city, Johannesburg or Cape Town, has the best quality of life using income in both cities, life expectancies in South Africa as a whole, literacy levels, crime and leisure’s in both Johannesburg and Cape Town. Review of literature What is the quality of life? Quality of Life is the well being of individuals and societies. It has a wide range of contexts, including the fields of international…

Energy is an important resource and one of the driving forces behind economic progress. Energy becomes an inevitable component for economic development as also for improving and maintaining the quality of life. Recent developments in energy markets show that energy security concerns are becoming more acute. These include a tightened global energy supply/demand balance, soaring energy prices, growing geo-political risks, and the emerging tendency of nationalism. The world is facing a twin energy…

The free market system demonstrates a number of advantages, including competition, low prices, free trade, and ease of commerce. Yet the economic benefits of the free markets come with deleterious effects: they harm people who are not in power. It is evident that women and minorities are often pushed to the wayside while men dominate discourse and dictate the economic status quo. Imposing a limitation on markets will curtail or terminate the propagation of harmful masculinity – dangerous male…

In today’s modern America, bureaucracy has become quite a negative word in people’s mind. Mainly, due to unsatisfactory experiences related to the term ‘bureaucracy’, most people look down upon it without ever wondering about the positive impacts of bureaucracy in the American democracy. Also, with the policy of the Republicans to bash bureaucracy on every chance they get, bureaucracy has garnered more hatred towards it than applause. People often ignore the fact that American democracy is…

Belgian colonialism in the Congo Basin has often been cited as an extreme case of how a narrow minded focus in the extraction of resources by a colonial power can have dramatic negative consequences on local populations and result in a lack of infrastructure and stable governance. During the period of 1908 to 1960 Belgian powers sought to control the rich resources of the Congo Basin. Through widespread fear tactics and suppression of the local populace the Belgians enslaved locals to work…

Through his book Guns Germs and Steel, Jared Diamond has masterfully woven together the historical developments across many cultures and different time periods. In doing so, he illustrates the historical themes that have been consistently relevant in human history. The main themes are interactions between humans and nature, development of cultures, state-building/expansion, and the evolution of economic systems and social structures. Throughout Guns Germs and Steel, Jared Diamond constantly…

Amartya Sen’s capability approach is a theoretical framework for the evaluation of individual welfare. It provides a theoretical basis for inequality, poverty and policy analysis. In the recent decades the capability approach has gained much popularity as emphasis is laid on human development that goes beyond the previously important notions of sheer economic development. The earlier aspects of capability approach can be traced in the works of Aristotle, Karl Marx and Adam Smith; however, it is…

wealthy states followed, and they too will become rich. In other words, less developed countries should embrace Western ideas that individualism is important to a functioning society and economy. Therefore, if individuals follow their own desire, the country as a whole will prosper, and individuals succeeding in an economy will receive profits. The other aspect of modernization theory argues that countries should industrialize as much as possible and move away from agriculture production (IR,…

Few would contradict the fact that the investment in infrastructure is important to the economy or an infrastructure in good working order is obviously a necessary condition for economic activity. According to Eberts (2002) , the essential question is whether, at the margin, an additional investment infrastructure contributes to economic growth. To policy makers, this Growth has several possible outcomes, including employment growth and income, improving the quality of life, environmental…

apply the Mineral and Mining Act results from a fear that strict adherence to the Act might dwindle federal revenue, and constrains budget. While this fear is a genuine one, it can however be partly addressed by a diversification of the national economy, from oil based to include other sectors of the…