Non-market economics

Consequences of the South Sea crisis: The crisis left thousands of broken families and bankrupt banks, not only in England but also across Europe. History repeats itself once again: The stock market bubble (1929) Somewhere in the United States (in the…

(“head-running”). Evans (1987) showed that, overall, small group competition would lead to a higher fare/higher frequency regime than is optimal, representing a welfare loss of between 10% and 12% compared to a perfectly planned regime that maximised net economic benefit subject to a budget constant. Tendering can in principle help move the outcome towards the optimum by encouraging coordination rather than…

that they must intervene in the energy market. Such usage of interventionist “counter-cyclical fiscal policy” to maintain growth is explained by Aghion and Cage: “Macroeconomic volatility tends to be detrimental to innovation and growth… growth-enhancing investments need to be maintained over the long-run.” By intervening in the depleted nuclear energy market, the government understands its responsibility to maintain macroeconomic stabilization in hard economic times. Such government stimulus…

concept of interdependence often refers to multilateral relations, aimed at the effective functioning of global markets and political situations. Globalization is not only an economic phenomenon. There are numerous types of globalization. However, the four I primarily focus on are economic globalization, military globalization, cultural globalization, and political globalization. Economic globalization has been defined by Gao Shangquan as “the increasing interdependence of world economies as…

and socio-economic characteristics of respondents This section provides an overview of the honey and beeswax value chain analysis sample respondents in Adwa and Ahferom districts. Demographic characteristics included for farmers, traders and tej makers. The results presented and discussed entirely to the sampled households. 4.1.1. Demographic and socio-economic characteristics of farmers Age - The average age of the respondent was 50.5 (±10) years. The average age of beekeepers and non…

Economic Literacy World War II assisted the United Stated to get out of one of its economic crisis. Three contributing reasons identified by Amott in the article The Postwar Economy Slows Down, discusses why the country was able to prosper. Dominance of the United States abroad, a time of peace among laborers, and a stable demand of services and goods by the government assisted the U.S. in maintaining a prosperous economy (1993, p. 26). When there was a change among the domestic and global…

operational execution. Any factors affecting organization's supply and demand levels along with costs need to be identified and analyzed for the influence. PESTEL analysis describes a framework which helps categorize environmental influences as economic, political, social and technological along with environmental and legal forces. Framework conducts impact analysis of these factors among each other and on Business. Findings are used as inputs for SWOT analysis performed on the product,…

connects to the economic setting of Thailand. Exports have been decreasing the past four years. Having decreasing exports means less money going into the economy. Industrial products also decreased by 2%. The government believes that export growth will increase. Low exports can affect foreign exchange decreasing trades with other countries and losing more money. Thailand also has had challenges competing with neighboring countries. The article “Resetting the economy” ties into the economic…

Individual’s behaviors significantly affect the decision making when they participate in the financial market. This phenomenon gives a shock to rational assumptions related to the traditional economic theory. For figuring out the principles and motivations behind decision-making process, behavioral economics has been widely discussed more than ever. Endowment effect, as one of economic phenomenon, arises from economic activities affecting preference and value construction (Ariely and Norton,…

How Susceptible are Jobs to Computerisation?” by Carl Benedikt Frey and Michael A. Osborne, The authors’ purpose is to take on the task of explaining the effect of Automation on the labor market in the past and what it means for the future. Autor uses strong logical arguments (logos), and his expertise in economics (ethos) to assert that there will always be a demand for jobs in the face of automation, but his essay doesn’t guarantee the quality of those jobs or that our society will be readily…