Non-market economics

by the economic problem ? Robert Heilbroner believed that economics is essentially the study of a process we find in all human societies. In addition to that, Heilbroner believed that the economic problem was simply the process of providing for the material well being of the society. Heilbroner was able to bring light to the idea that we ourselves as humans are the major source of our economic problems and not nature. Although nature might seem to be what sets the scene for the economic problem…

realm of international relations during the proxy wars between the powers in the Western Bloc(the United States, its NATO allies and others) and powers in the Eastern Bloc (the Soviet Union). This war was an ideological war and it was ideas of free-market capitalism which formed the basis of American policy toward the Soviet Union. Afghanistan become important in this “game” because of the creation of a “sanitary belt” by the U.S around the USSR in order to restrict its expansion. The U.S…

present economy. For example, the entire system of subsidies used extensively by the United States would be non-existent, and this would produce a completely different national economy and infrastructure. Early infrastructure was heavily subsidized by the U.S government including the Erie Canal and most railroads (Wood, January 16, 2015). So, in the hypothetical world of a completely free market U.S. Constitution, it can be surmised that major infrastructure projects would have been either not…

Emerging countries have the moral basis to claim Aid from Wealthier nations. High-income countries have the moral obligation to help them. For the hammer and the imposition of an economic order, that day by day affect developing countries, decreasing the quality of life of their people. In 1970, a new economic model was implemented, called “globalization,” a model that integrates and regulate how the international community interact. This trade agreement represents an agreement between states…

reengineer themselves through new market laws. In other words, like capitalism, which for its success, as a “mutable system” has to remain in “perpetual change” (Bookchin, 2015: 3), neoliberalism requires to bring about more change. Bookchin echoes Marx’s argument similarly. There are other capitalist notions, which find their way into neoliberalism. In his book The Joy of Capitalism, Steven Plaut explains, “A child born smart or taught self-discipline receives an economic endowment that can…

Multiple Choice questions Question 1 Question 2 Question 3 Question 4 Question 5 Question 6 Question 7 Question 8 Question 9 Question 10 Question 11 Question 12 Option b d b b c d d d c c a b spot market derivative market no arbitrage Question 2 Fundamental concepts of derivative markets: What are derivatives? Derivatives can be defined as the instruments whose value depends on the value of underlying assets which may be a commodity, metal, money currency, any stock or indices. The main purpose…

financial decisions. More educated investors are generally more capable of gathering and understanding stock market information, and have therefore a higher probability to own risky assets (Vissing-Jørgensen, 2002; Christiansen et al., 2008). Though observable characteristics can explain a large fraction of the cross-sectional heterogeneity in household financial behavior, the effect of non-observable characteristics should not be ignored. Calvet and Sodini (2014) analyze the portfolios choice…

States State Attorney and seven other states filed a lawsuit for antitrust violations against American Express. When new credit cards entered the market such as Visa, Master Card, and Discover Card, American Express lost profits by roughly 20%. Since this hurt American Express and their earnings, they responded by tightening the contractual restraints of Non-Discrimination Provisions (NDPs). NDPs were used to control the way merchants treated American Express cardholders. American Express also…

As mentioned above, the shares in hand of the state and the legal person are non-tradable. Owners of these shares usually come from the primary sponsors before Initial Public Offering (IPO). Worth mentioning, their processes of obtaining the shares are different. According to ‘Provisional Administration Ways for State-owned Shares in Stock Corporations’ (PAWSSSC), because there are different investment entities and equity management entities, state shares and state-owned legal person shares are…

are used efficiently to maximise on the welfare of individuals, through providing tangible goods and intangible services, however opinions differ on what course of action should be implemented. The three commonly know systems are ‘command’, ‘free market & ‘mixed’, however within this my focus will not be on the most widely used ‘mixed’ approach. My objective is to gauge of the two extremes, which would be the most viable option on a global scale. A centralised command economy is “An economy in…