The Economist

economic changes, there is still the potential that many negative economic consequences may occur. The government still, “controls vast tracts of the economy, including foreign trade, banking and law.” (The Economist) Which in turn is a huge turnoff for foreign investors like China or the U.S. The Economist claims that there is very little Chinese investment due to the chances that some investors have been jailed, “without due process.” These issues may seem like they will hurt the U.S. and Cuba…

Positive Economics A Critical Review on Monetarism Milton Friedman, “one of the most gifted economists of the 20th century” as recognized by the Encyclopedia of World Biography, is one of the most significant American economist. Born in Brooklyn, New York in 1912 Friedman was a revolutionary man with many different positions hold during his life, such as university teacher, journal writer, and research economist. He was a non-stop person who loved his career, and even more to cooperate to the…

dream” to “economic disruption, psychological and cultural breakdown.” “The caseload of the area’s mental-health center tripled within a decade.” Thompson continues on with theories of what a world without work would be. A world like that writers, economists and researchers have jointly…

Consumers today don 't directly see the behind the scenes actions and grievances of workers and employees within franchises and companies. Though on the surface raising wages does not seem problematic, if one were to put on the hat of an economist they would see the significant repercussions that could result. James Surowiecki and Michael Saltsman both present ideas regarding the complex topic of how to properly improve the lives of those in the workforce in an economy that is suffering in their…

The process of fracking CSG involves pumping water, sands and chemicals will be brought to the surface, affect the quality of underground water. As the town folks and agriculture are relying on the underground water (The Economist, 2012). The polluted underground water can influence health problem so they cannot be used. A report on ABC News (2011) reviewed that the greatest underground water Great Artesian Basin has been contaminated and depleted because of the extracting…

Adam Smith and John Maynard Keynes are two of the most famous and influential economists of all time. They both understood the fundamental economic insight that the key to economic prosperity is to keep money circulating. However, they are mainly thought of as being on opposing sides of most economic philosophies. It is essential to first analyze each economist for their own theories and practices. Then, to contrast the two in order to fully grasp their economic philosophies and to portray why…

There are many politicians, economists, states, advocacy groups, think tanks, and workers who think that the Federal minimum wage is too low, and should be raised. It is a controversial idea however, because there are also many economists and politicians that argue that any increase in the minimum wage would be harmful to the economy. The two factions on the issue of whether or not to adopt H.R. 1010 form two pretty clear policy camps: The first is that the government should Pass H.R. 1010…

fine except for this one article and it said “a closer examination of the list by the Employment Policies Institute (EPI) reveals that nearly 60 percent of the economists studied don’t specialize in labor economics—and some aren’t even economists at all.” Don’t you think that the people debating whether the wages should increase are economist who specialize in labor economics and know what they are talking. 5. Discuss your opinion on this topic: Do you agree or disagree with the…

Milton Friedman was a world-famous economist, statistician, and public policy analysis. He was perhaps the most prominent economist of the 20th century and was awarded the Nobel Prize in Economics in 1976 (nobelprize.org). He was also awarded the Presidential Medal of Freedom by President Reagan in 1988 (reaganlibrary.gov). Mr. Friedman firmly believed in the free enterprise system. He stood by the notion that an atmosphere of competition and the rewards of individual success, are, and…

to the capital elite and added to commodity fetishism. While, Adam Smith believed greater national output was beneficial to everyone, raise all boats with the tide, and increase the wages of the working class, too. The difference lies in the two economists view on whether or not labor is exploited and the role of capital accumulation in that exploitation. It is best to compare Carl Marx’s, The Law of Motion of Capitalism, to Adam Smith’s, Theory of economic Development,…