The Economist

maintain demand with supply equilibrium. c) Equilibrium: Price changes are perceived differently by consumers and producers, increase price generally lessens demand, whilst boosting supply and reduce prices enhances demand while depressing supply. Economist recommends a free market a single price can balance demand and supply and this is called equilibrium price. Thus, the scarcity resources on either part giving incentive to involving in an…

opportunities, and it finally leads to seriously social inequities with shrinking social mobility (Yglesias, 2012). Meanwhile, besides unequal educational opportunities, rich people also have inherited advantages beyond money called “family behavior” (The Economist, 2012). Based on the Economist’s explanation, the common marriages between college graduates double the university education benefit and form class stratification in the end (2012). The rich family usually has advanced value and…

Dr. Messonnier is the Lead Economist at the Population Health Workforce Branch in the CDC. He was a charismatic speaker and he made class entertaining through with his wittiness. We began class by introducing ourselves and then Dr. Messonnier introduced himself. He did not have a straight path into public health. He graduated from LSU as an agricultural business major, then obtained a Masters in agricultural business, and then obtained a PhD in natural resource economics from UGA. Dr. Messonnier…

Income," published at The Atlantic on 26 Sept. 2017, was written to show the many different studies and opinions on the idea that school quality might not be the most significant force in economic growth. Cohen uses several studies done by well-known economists Raj Chetty and Jesse Rothstein. Though several other people and their opinions were mentioned, the essay was focused around the two main studies. The 25.7 million readers of The Atlantic are nearly split between men and women and many of…

Classical economists argue this because more people save money if interest rates rise, meaning that they will have more disposable income meaning that they will spend more. Furthermore, interest rates determine whether people make investments; if interest rates are…

(1883-1946) is a British economist who is the founder of Keynesian economics and the father of modern macroeconomics. He published his foundational book: “The General Theory of Employment, Interest and Money,” in 1936, years after the great depression of 1929. His theories were largely in contrast with classical economics and they impacted widely economists all over the world. Between the 1970s and the 1990s, after the appearance of new theories in economics, more economists reviewed the…

This essay tries to explain and evaluate Friedman’s arguments about the way in which economic theories should be evaluated by considering both his views as well as other economist’s views’. Throughout the essay, I will be analysing different aspects from Musgrave’s categories; Negligibility, Domain and Heuristic assumptions. Friedman stated that we use theories to perceive “facts”, and we are not able to perceive “facts” without a theory (Friedman, 1966), which has a contradictory element behind…

many corrupt scandals is the Petrobras Scandal. The scandal now involving Brazil’s president involves thirty four sitting politicians who are suspected of participating in a multi-billion-dollar bribery scandal within the energy company Petrobras (Economist). Officials in Petrobras are thought to have paid officials for contracts and using money…

One of these economists was Sir John Clapham, who attended the first Mont Pelerin Society meeting in 1947. Clapham himself, like Keynes, was an associate of King’s College in Cambridge, but perhaps the most notorious allegiance Clapham had was to the King. He was, you…

event, none of the historical economic thinkers were alive at the time of the 9/11 terror attacks, therefore, the historical perspective is based on what the economist would be likely to say given their past and the way their economic policies were. Historical Perspectives on 9/11 terror attacks John Maynard Keynes was an English economist often referred to as the creator of “Keynesian economics” which helped rescue capitalism from self destruction and international communism. He argued that…