The Economist

For most economists, the financial crisis of 2008 was the most severe financial crisis since the Great Depression hit the United States and the world in 1929 and the early 1930s. This paper will analyze the causes that lead to the 2008 financial crisis. The paper will also explore the effects of the crisis, not only in the financial world and the economy, but also in the legislation governing financial institutions. The ethical implications that were involved in the crisis will also be studied.…

Keynes v. Von Hayek The confrontation between John Maynard Keynes and his partner, Friedrich August von Hayek, are one of the most famous in the history of contemporary economic thought (Keynes Hayek). This feud started during the Great Depression of the 1930’s due to the causes and remedies of business cycle downturns in market economics (Keynes Hayek). John Maynard Keynes was a believer in the quantity theory of money (monetarism), and his writing topics were essentially built on the…

who work at minimum wage or close to it. Although there are a lot of causes for many people to support a higher minimum wage, a lot of economists believe that minimum wage mandates are harmful for workers. They believe that setting an artificial wage prevents markets from finding an equilibrium and that impacts total employment, productivity, and wages. Economists believe that total employment would effectively be reduced. By placing a wage floor below the equilibrium wage, the rate that would…

This operational risk can be created by Islamic banking diminishing credit risk that is caused by the demand of collateral by the bank customers, which can lead to withdrawal risk. Also, many economist and bankers argue that Islamic banking have information disclosure which leads to ineffective risk management in banking. Thus, this can lead to hazardous relationship with the clients and investment account holders. The overall risk exceeds the…

one of the first things that you look forward to is turning sixteen, becoming employed and earning your own money. Teens are usually already aware they will be making minimum wage, at least until they obtain a raise or a promotion. In the article, Economists Debate the Minimum Wage, Robert P. Murphy discusses the effects that the raising of the federal minimum wage might have on the employment rate. He explains that the current minimum wage is a big issue in terms of teen employment, meaning…

What if I told you, 70-80% of the food at your grocery store is genetically modified? You may feel great about it, because it can feed the world’s population, it can increase food production and it won’t take much effort at all. There’s a downside to this GMO trend going on. What if the food you’re eating can cause diseases? What if it puts organic farmers, the farmers who still grow their crops traditionally, out of business? It can even cause cancer in lab rats? Would you want to eat something…

In Pia Orrenius and Madeline Zavodny’s academic journal article, “The Economics of U.S Immigration Policy,” Orrenius and Zavodny state that Americans’ outlook on immigration vary from those who believe immigrants (legal and illegal) positively impact the economy and those who believe immigrants negatively impact the economy. Pia Orrenius and Madeline Zavodny’s argue that the United States needs to implement an “immigration policy that addresses the concerns” about low-skill, unauthorized…

In a capitalist country, it is to be expected that every family or individual will see the world from a new perspective. In her 2005 memoir, author Jeannette Walls recounts how her personal worldview was shaped throughout her childhood and continues to change during her adult life. Walls’s blatantly truthful memoir begins with a deceptively hopeful outlook of the future. With tax collectors or the like on their tails, the Walls family is forced to make a speedy escape—otherwise, they would not…

and controversial one at that. Many scholars have very strong opinions on this topic, two of these scholars being: Harvard graduate and novelist Michael Crichton and a former resident scholar at the American Enterprise Institute (AEI) and staff economist John E. Calfee. Both scholars have written extremely compelling essays on the topic. Crichton’s essay “Patenting Life”, gives an overview of his adverse opinion towards gene patenting and provides evidence to support his opinion. Former AEI…

Freakonomics: A Rogue Economist Explores the Hidden Side of Everything Steven Levitt & Stephen Dubner Andrew Feist The University of Akron United States Government & Politics 100-638 MWRF 11:00-11:50am Dr. James Holland 07 November 2014 The connection between a teacher and a sumo wrestler probably has not crossed your mind. Have you ever thought about how real-estate agents are similar to members of the Ku Klux Klan? These are not connections you would usually make every day, but…