Economic Systems & Principles Essay Examples and Topics

What is Money?

Money has many names that people in many cultures use to refer to it. Examples of such names are dosh, bread, and readies, among others. From a historical point of view, money was associated with many issues. For example, Christians assert that people who love money could be headed to the devil. The notion originated […]

Japan Growth Figures

The article explores the poor growth figures of Japan as well as the dismal improvement in the Gross Domestic Product (GDP). According to Obe (2014), the economic downturn that was witnessed in 1997 was mainly fuelled by an increase in sales tax. Even though Mr. Abe’s government was fully conscious of the cause, austerity measures […]

“Take a Cue from the Best States for Business”

The article I am using for the analysis explores the relationships between strong and weak economies in the United States existing next to each other. The economic situations of various states are carefully followed and watched by the United States Government, and every year the Legislative Exchange Court releases a report about the wealthiest and […]

Peru’s Gross Domestic Product Expandation

The article explored the economic growth of Peru in 2013. It highlights that a weaker domestic demand and decline in exports heavily contributed towards the slow pace of growth experienced in the country. However, the aforementioned factors did not significantly affect the Gross domestic product. The GDP of the country experienced a marginal rise to […]

Fourth Quarter GDP Gets a Big Downward Revision

The article by Danielle Kurtzleben posted on the news portal called USNews states that the gross domestic product growth in the US did not match the expectations formed by the economists and experts at the end of 2013. The author of the article refers to a report made by the Commerce Department, which noted that […]

Equilibrium Supply and Demand – Macroeconomic

Introduction Supply and demand are the most basic concepts of economics. Demand is the quantity of goods desired by consumers while supply is the amount of goods the producers can offer to the market (Begg & Dornbusch, 2005). Quality demanded is the amount of goods consumers are willing to buy at a certain price while. […]

Entrepreneurship and Economic Growth

Introduction An entrepreneur may be defined as someone who agrees to accept the total risk of a business project as long as there is a considerable chance of making a profit. Entrepreneurship can also be defined as the practice of starting a new business so that one can earn a profit on untapped opportunities. Entrepreneurship […]

Germany and Its Macroeconomics

The past years witnessed rapid changes in the patterns of macroeconomic development in Europe. Most European countries have managed to preserve their macroeconomic position despite the dramatic financial difficulties facing the developed world. At the same time, as the balance of macroeconomic forces changes globally, Europe must be ready to readjust its macroeconomic decisions to […]

Global Warming Results for Economics

The ongoing discussion of climate change has important results for economies. Whether the change is real or an artifact of measurement problems, whether it is caused by human activity or a natural part of weather cycles, whether it can be offset by technology or behavior change or not, it affects economies. The very fact of […]

Economic Issues: Migration’s Causes and Effects

The orientation of the society in contemporary times denotes the creation of pressure that necessitates the movement of people from one location to another location to ease the pressure. Migration is, therefore, a trend that is common due to the modern world that is characterized by the push and pull factors that influence the movement […]

Minimum Wage Regulation

The minimum acceptable remuneration that an employer should pay an employee has been a source of contention among diverse parties with conflicting opinions about the importance and drawbacks of laws on minimum wages. Pursuance of regulation on wages in the 19th century set the stage for the formation of trade unions and other bodies that […]

Economics: “The Second Machine Age” by Erik Brynjolfsson and Andrew McAfee

A Significant Economic Trend In the book titled, “The Second Machine Age”, Brynjolfsson and McAfee, citing the social development theory, posit that the digitization process will continue to have major economic impacts on productivity globally. They oppose the view held by most economists, namely, that economic growth has stalled in the digital era, arguing that […]

Economies of Scale’ Definition

Introduction In business today, some companies enjoy the Economies of Scale while others do not. The difference between the companies that enjoy economies of scale and those that do not is based on the volume of output. Companies that are involved in large scale production are more likely to enjoy economies of scale compared to […]

Economic Issues: the Income Inequality

Think about the recent statistic on inequality that the top 400 richest Americans have more wealth than the bottom 150 million Americans combined. How do you think this happened, and what is your position on this? The income inequality in the United States can be considered as a result of the ineffective economic policies that […]

Economic Issues: Free Trade Liberalisation

Even though the move to liberalize trade had positive implications, there is always clear uneasiness and worries among the public. The essay discusses the reasons for the disquiet among the public. It will also research on the comparative advantage that arises in such situations. When countries engage in free trade, the local industries suffer immensely […]

Economic Issues: Unemployment in the United States

The news articles titled “The US has a Jobs Crisis: Here’s How to Fix it” and “Searching for an Answer behind African Americans High Unemployment Rate” provide economic viewpoints on the problem of unemployment in the United States and why it is yet to be effectively addressed despite concerted efforts to create employment opportunities. The […]

Economic Issues: Business Cycles

It is crucial to note that over time, some of the main macroeconomic variables are prone to considerable changes. The aggregate level of real output of an economy (usually represented by GDP or GNP) tends to grow. The recurring deviations from the real aggregate output about the trend can be referred to using various interchangeable […]

Economic Issues: Foreign Policy

Introduction Flexible budget and easing up of the economy is believed to the simplest means to recover from a stagnated, growth-deprived economy. However, recent experience from Europe speaks otherwise. In the article, ‘Europe’s Goldilocks Dilemma,’ published in Foreign Policy, points out that many leaders from the European Union (EU) are presently demanding a more flexible […]

Economic Issues: Full Absorption Costing

Abstract This paper deals with the article on full absorption costing and marginal costing systems. Lakmal (2014) highlights the advantages and downsides of the two approaches and reveals the most effective ways to use the two systems. Importantly, the author notes that it is beneficial to use both approaches alongside activity-based costing. The article is […]

Remittances Role in Spurring Global Economic Growth

In the video titled “The hidden forces in global economics: sending money home,” economist Dilip Ratha discusses the role played by remittances in spurring the growth of developing countries. According to Ratha, the annual total of remittances sent home by international immigrants is thrice the amount of foreign aid sent to developing countries. However, the […]

Jeff Rubin’s Economics: Oil and the End of Globalization

Introduction Jeff Rubin, a competent and globally renowned energy specialist, has written a book that is crucial for the Americans and all nations across the world. Why your world is about to get a whole lot smaller: oil and the end of globalization is a chef-d’oeuvre book that speculates on the future of the international […]

Macroeconomics: Larry Elliot’s Review of Capital

In his article, Larry Elliott, an economics editor for The Guardian, analyzes Thomas Piketty’s book Capital in the Twenty-First Century. The article focuses on the books main theme, which suggests that the increase in inequality is eliminating capitalism. Elliot praises Piketty’s ability to utilize empirical evidence to develop a comprehensive historical overview of capitalism and […]

Economic Issues: Casino Gambling

Expansion of Casino Gambling The casino and gaming sector in most countries has experienced considerable growth. Most of this growth has been attributed to the explicit policies adopted by various federal and state governments. It is believed that casinos can be a significant facilitator and promoter of growth within the tourism sector. However, the realization […]

Market Entry Strategy

A market entry strategy into a foreign country enables an international organization to capture new market niches and increase salesa revenue. However, entry intthe o a foreign market is one of the most difficult tasks that require a multinational corporation to develop effective methods of eliminating entry barriers. Specific business aspects such as competition, price, […]

Economic Issues: Modes of Production

Despite the predominance of capitalism as the mode of production in the current global economy, communism, independent production, slavery and feudalism have remained active in the production modes in the society. This analytical treatise attempts to explicitly explore the tenet of existence of other modes of production besides capitalism in the present society. Through the […]

Economic Issues: The Keynesian Theory Places

Economics is a social science that focuses on relationships between individuals, businesses, countries, and continents in terms of how the resources are being used in order to meet the wants of humans. This subject can be divided into two major categories, in particular, macroeconomics and microeconomics. The first one is a study of the aggregate […]

Economic Issues: The Evolution of Usury

Usury refers to the lending of money at interest. The practice of usury has a very long history. Writings from ancient times such as the Bible have passages that condemn usury. The fact that usury was found in many old writings does not mean that societies accepted it. What it means is that usury has […]

Economic Issues: Dubai New Housing Bubble 2013?

In a bid to avoid the ‘oil curse’, Dubai embarked on diversifying its industries. The emirate’s growth is currently associated more with diversification than its rich reserves of gas and oil. To many, the real estate industry is one of the best performing non-oil industries. Sadly, after enjoying a six-year boom, the real estate business […]

Economic Theory: Positive Globalization

Introduction Globalization is one of the most discussed terms nowadays. It is the concept which touches upon different spheres of life, and it is analyzed by the representatives of various fields of study. Globalization influences not only the modern world as a whole but also the way of life of the individual persons. However, the […]

Franchise Systems in World Economics

The business world is a quickly evolving entity that contains many opportunities for prosperity and success. Many global companies have locations worldwide, and franchises play an important role in the conduction and maintenance of the business. One of the well-known franchises is a chain of motels called “Motel 6”. The management of these motels has […]

European Market Regulations

The single European market The single European market has provided a lot of opportunities for business organizations. The various business opportunities that have been availed by the European single market have accelerated the levels of growth for several multinationals operating within the European Union. To begin with, business managers can enjoy the increased prosperity presented […]

Factors that Influence International Business

Introduction The term international business simply means any business that is conducted cross-border or between nations. The business could be conducted by governments of various nations, private companies or by individuals from different nations. It is important to note that a business is any transaction or activity whose major motive is to make profits. Therefore, […]

Perspectives on Small Business in Canada

Introduction The overwhelming approval of small businesses and their role in Canada and America is a clear indication that people are increasingly appreciating and embracing small business compared to large corporations. A study by Canadian Federation of Independent Business (CFIB), as reported by Nicole Troster, provides a clear indication that most people in Canada are […]

Outsourcing in US

Introduction Outsourcing U.S. workers means that full-time workers are obtained from less developed countries where the wages are lower, and labor laws are tighter. It is facilitated by the availability of the internet that makes it easy to assemble and manage remote teams of workers. The increasing economic pressure in the globe facilitated by the […]

United Arabs Emirates’ Open Economy

The UAE is an economic miracle. Very few countries have achieved the feat that the UAE has managed to achieve in the last three decades. At the beginning of the twentieth century, the region was simply a vast desert. In fact, life in the region remained unchanged for many centuries until the discovery of oil […]

Business Cycle in Economy

Appearing in last Sunday’s edition of New York Times, the article “Living on Minimum Wage” illustrates a picture of an American economy which is in the recovery phase in the business cycle. This paper illuminates some of the main ideas contained in the article. Business cycle, also referred to as economic cycle, is a term […]

Economy Issues: Global Food Trade’s Benefits

How does this vast movement of food from one nation to another benefit developing nations? Are there benefits to developed or wealthy nations? – When foodstuffs are moved from one geographical region to another, several benefits are enjoyed by both the developing and wealthy nations. For instance, the developing nations are in a position to […]

Economy Issues: European Union Impacts on Ireland Businesses

Introduction The economic development of Ireland is closely tied to the country’s membership in the European Union. This paper is aimed at discussing the effects of the EU policies on various businesses in this country. In particular, one should examine their positive and negative implications. This issue is of great importance nowadays because at present […]

The Significance of Formalizing Economy

Summary Increased production of goods and services is conducted from state and market-based structures. The above illustration addresses formalization thesis from a definition point of view. However, this assumption is considered a fact when factors influencing informal economy remain constant or in a dwindling state (Williams 2007, p. 14). The article emphasizes on the significance […]

Economics: “The Wealth of Nations” by Adam Smith

Adam Smith is regarded as one of the first scholars who considered the physiocratic system in detail. He criticized the old mercantilist system and stressed that only new principles could help nations prosper. Thus, Adam Smith believes that the mercantilist system cannot fit in the society of the 18th century. According to the mercantilist system, […]

Economic Justice for All in the United States

Introduction Economic activities are the main pillars of development in nations. They produce goods and services that are required by people to manage their daily activities. This means that business activities are indispensable in all societies. The need to ensure all regions in a country develop equally has forced nations to establish policies that guide […]

“Signs of Life in Home Building” by S. Dewan

Published in the ‘New York Times,’ Sheila Dewan’s article “Signs of life in home building” presents an analysis of the current situation in the housing and employment sectors in New York. According to Dewan (2014), the employment sector and housing industry have a natural and strong relationship in a perfect economy. The link is a […]

Economic Issues: Mexico’s Developmental Controversies

Mexico is a country with a rich history and wonderful prospects for economic development and growth. A place where several advanced civilizations were born, Mexico is also the land of immense economic growth opportunities. The country’s Human Development Index (HDI) is 0.775, and it constantly improves. Industrial growth, urbanization, and economic development greatly contribute to […]

Neoclassical Economics Concepts and Theories

Stanley Jevons was a neoclassical economist who, among others, advanced the economic theory of marginal revolution. He explained labor and consumption in terms of marginal utility. Classical theorists held the view that the value of a product is directly proportional to the labor used in production. Jevons, on the other hand, argued that the value […]

Behavioral Economics And Finance

The first attempts to analyze and explain the actions of economic agents from the psychological perspective were made in the 18th century. Since then, this field of study has advanced substantially. The ideas on behavioral economics can be found in the works of the representatives of the different schools. Many of them are devoted to […]

Economic Issues: Reducing Fertility in Bangladesh

Abstract Fertility is one of the most debated issues in Bangladesh. The rate of fertility is very high compared to countries like Kenya, due to poor family planning. However, the rate has been on the decline due to factors that include education, employment opportunities, and erosion of degrading traditional beliefs. Illiteracy among women in Bangladesh […]

Economic Issues in “Capitalism” by Joan Robinson

The ideologies presented by Joan Robinson in her essay are tactical and pertinent in the field of economics. They provide thran ee-dimensional perspectives on the evaluation of capitalism. However, the broader essence of capitalism might reveal somewhat distinct outcomes if my opinions were to be incorporated in the assessment of capitalism. The purpose of this […]

The Indian Ocean Economic Future

The Indian Ocean, one of the three largest oceans on earth, is a major economic, social and cultural resource for millions of people in Africa, Asia, Australia as well as other continents that use it for various purposes. It runs from the eastern shores of the massive African continent to Australia in the west, frames […]

Economics: Gambling Industry

Gambling industry is quite new, but it is rapidly developing. Companies operating in the business manage to gain billions in revenues, but they also face serious competition. In 2008, the industry went through hard times, but now new casinos are being opened. More so, the industry is becoming more diverse in terms of its products […]

Economics: Problems Facing the Caribbean Region

Currently, the countries in the Caribbean region are doing well economically, even though they are still behind in social and political developments. For instance, the status of human rights is terrible while the conditions in which citizens live are appalling meaning some interventions are required. The region is in urgent need of strong policy actions […]

United Kingdom’s Economic Risk Assessment

Introduction Even though recent scholarly reports indicate that the United Kingdom is experiencing a tough global financial mayhem, the nation, as empirical research points out, is a Country Risk Tier one with the very low-risk level that runs through its three sectors namely political, economic, and financial sectors. This means that the UK is a […]

Contemporary Economic Situation in China and India

According to Fareed Zakaria, India’s development is haphazard and uninfluenced. On the other hand, China’s economic growth is controlled by the central government and is not subject to outside influences. Consequently, it is misguided to think that India’s infrastructural development will one day be on par with that of China. The author notes that India’s […]

Unemployment Effects on Lithuania Individuals

Introduction Unemployment is a situation where individuals who are actively looking for jobs are not able to find work (Boyes and Melvin 47). Unemployment is often measured in terms of the percentage of the labor force that is not employed. This measure is used to evaluate the economic health of a country. Unemployment is undesirable […]

Debates About Austerity and Stimulus

Introduction The austerity and stimulus debates have been reinvigorated by the turn of events in the European economies. The indication is that the two economic ideas are exceedingly disputed yet there is inadequacy in their understanding. While the stimulus packages have widely been accepted as the best economic measure during the economic slowdown particularly its […]

Abu Dhabi Tawteen Council

Abu Dhabi Tawteen Council The United Arab Emirates president by the end of 2005 initiated the ADTC (Abu Dhabi Tawteen Council) to meet his dream in service delivery. The president’s main intention was to exploit the entire potential of the Emirati human capital for economic and social growth of Abu-Dhabi. The ADTC endeavors to satisfy […]

Indian Economic Growth

Keynesianism as a theory maintains that the economic performance of a country depends on the expense incurred in running its operations in the short run. These expenses depend on production and employment levels of the country; they also affect the inflation rate in the concerned country. According to this theory, government involvement in the monitoring […]

The High Cost of Projects

Introduction Projects are considered to be an array of activities that are supposed to be executed within a predetermined period. Companies prefer to handle certain assignments in the form of projects to achieve certain deadlines at a low cost. Such activities cannot always be carried out during normal operations of the business due to factors […]

Thomas Friedman’s Three Eras of Globalization

The globalization process is meant to break all political and physical boundaries and enhance international cooperation in different aspects of life. Globalization ensures that relevant systems of life are spread to all parts of the world despite the many complexities involved. Globalization is a very elaborate process with very complex systems. This paper will discuss […]

The Increasing Rate of Unemployment

The world has experienced an economic slowdown that has affected many economic sectors over the last couple of years. One of the sectors that have been highly affected is the labor market. Many people have been losing their jobs since the organizations they work can no longer afford enough money to finance their salaries. Labor […]

The UAE Economy

Introduction According to various economic indicators like the Gross Domestic Products (GDP), Human Development Index and steel and energy consumption; the economy of the United Arab Emirates (UAE) is considered a diversified and highly growing economy. The UAE economy is an open economy, has 10% of the world’s oil reserves and is the world’s fifth […]

Economic Growth by David Weil

Facts to be explained In this introductory chapter, Weil discusses the aim of the book as well as the important questions that the book answers. The main aim of this chapter is to help the reader to acquaint himself or herself with the topics that the author discusses in the subsequent chapters of the book […]

The Unemployment Situation in the United States

Introduction Unemployment is a situation where people are jobless, but they are looking for jobs actively. The rate of unemployment usually increases during the time of economic recession. Over the past few years, the world has experienced a period of an economic slowdown. Consequently, the rate of unemployment has increased significantly (Duman, 2010). This article […]

International Economics

Import quota An import quota is imposed by countries to mitigate the amount spent on import. The countries also reduce the number of goods produced abroad and sold in the home countries. Import quotas are often viewed as a protection measure. Domestic ‘young’ industries in the country are protected from well-developed companies abroad. This gives […]

Scale’s Cost and Economies

Pricing of goods and services Pricing of goods and services is a vital part of the profit – deciding on an organization. It is because the cost of producing a unit of a commodity is deducted from the price of the commodity to earn a profit. In most organizations, the selling price is arrived at […]

Why Canadians Cannot Compete With Lower Labor Cost Countries?

The quick response to this question is that countries like Canada are not competing for low labor cost advantages that emerging markets such as India and China have. Moreover, the low-cost advantage is not sustainable to the rapid developing countries including India and China. However, these countries still encourage the growth and development of labor-intensive […]

Oil Exports from Middle-eastern Countries

Introduction The discovery of oil affected the Middle Eastern economy in mostly positive ways. However, these positive results created a domineering attitude in which Gulf countries sought to use their superior economic position to advance political agendas. This approach has yielded undesirable results in targeted and untargeted countries. Therefore, Middle Eastern countries should avoid the […]

Decline in Oil Supply from the Middle East

Introduction Oil is a natural resource drilled from countries that have oil deposits. The Middle East relies heavily on oil exports to finance various projects. However, there are fears of a shortage of oil deposits in the coming years due to over exploitation of this resource. This region will not have adequate oil deposits to […]

Marxist Critique of Capitalism: Expropriation of Surplus Value

Explain in detail Marx’s idea that capitalism is unjust because it involves the expropriation of surplus labor, as we have discussed this idea in class. Explain exactly why one might think this is a serious objection. How could a defender of capitalism best reply? Do you think the defender’s reply is convincing? Explain why or […]

The Post-oil Future for the Gulf States

For several decades, oil had been the largest source of revenue for states in the Arabian Gulf. The increasing global consumption of oil has greatly boosted the economies of states in the Arabian Gulf, which thrive on the billions of dollars obtained annually through the sale of oil and oil by-products. However, the realization of […]

Future of the World Bank

The article ‘The World bank of the future’ gives an insight into the contributions made by the World Bank to the development of the world economy. It assesses the available means that can be used to eradicate poverty. As such, countries that defaulted payments should be offered funds with rational restrictions to avoid suffocating the […]

Argentina Economy

Argentina is precisely an emerging country, and it is classified among the middle-income countries. The country has a human development index is 0.811 against the 0.900 which is considered the minimum for the developed countries. This has been as a result of high living standards of its citizens due to high employment levels. Lately, Argentina […]

Mali as One of Developing Countries

Introduction This is a report about Mali. It focuses on a range of issues, challenges, and controversies that Mali faces as a developing nation. It also highlights how actors and interests affect the country’s development. Mali is a West African landlocked country. Over the last 20 years, Mali has strived to develop a stable democracy […]

Adam Smith Views on Labor Productivity

Adam Smith argues that the division of labor increases labor productivity within an entire economy. A worker would spend more time performing a particular task thus increases his or her skills in performing that task. This is forms the basis of Smith’s argument that the division of labor increases the productivity of the labor force. […]

Wealth Accumulation and Its Effects

Introduction The current disparities in wealth have been in existence for many years. The gap between the rich and the poor started to widen due to the emergence of industrialization. Inventors of various technological components monopolized their inventions. This enabled them to accumulate enormous wealth (Portes 1). This article examines two authors namely George Henry […]

Qatar Business Analysis

Executive Summary This paper analyses the profile of Qatar briefly and also offers an analytical business analysis. The current changes in Qatar’s leadership have resulted in economic growth and development. As such, it has become one of the strongest economies in the world. The revenue obtained from the sale of crude oil and natural gas […]

Lebanon’s Political and Business Environment

Introduction The purpose of this report is to analyze political environment of Lebanon, business environment, principal business activities, exports, imports, balance of payments, social, technological and cultural environment, demographics, GDP growth rate for the last ten years, banking and tourism industry, Hofstede’s country characteristics (power distance, collectivism, masculine, uncertainty avoidance and long-term orientation) and so […]

Today’s Views on The Battle of Bretton Woods

The Bretton Woods was a monetary system that came into existence in the year 1944. This monetary system also entailed an exchange rate system. This system was formed by at least 44 countries. Most of these countries came from European countries at the very time the Second World War was taking place. After the convention […]

Free Trade Agreement Colombia and USA

Introduction Free trade agreement between Colombia and the United States (US) is based on cardinal performance objectives that aim at promoting economic growth in the nations. The agreement has come at the right time when various nations are gearing towards forming strong economic blocks. The nations are keen to enhance their competitiveness and negotiation power […]

Chapter Six in “The Corporation” by Joel Bakan

During the twentieth century, many changes in the economy and the global market have been realized. Many options have been available for the business people and stakeholders left with the freedom to choose among the different ways of conducting business that best fits their interests and capabilities. Several questions have cropped up regarding conducting general […]

Why Some Former Colonies Fear Economic Globalization?

Modern imperialism involves expansion of capitalism; it inherits the practices of capitalism, that is, the control that superior nations exert on other countries in the world. For instance, the conquest of the world by the European forces marked the beginning of imperialism. In Felipe Fernàndez-Armesto’s book, The World: A Brief History p. 362, Japan is […]

The United Arab Emirates Diversification of Economy

The country is a federation comprising of seven States namely, Ajman, Abu Dhabi, Fujairah, Dubai, Ras al Khaimah, Umm al Qaiwain and Sharjah. It gained independence from Britain in 1971. Each of the States has some degree of autonomy but the country is governed by a supreme council of rulers called emirs. It is these […]

The Origins of the Modern World by Robert Marks

In his sociology article, the origins of the modern world, Robert Marks gives a vivid description of the cultural, political and economical transformation of the major continents in the world. However, Marks approach in writing his books raises various questions about the history of the world. The first question is, how did the Western countries […]

Saudi Arabia’ Trade and Business Practices

Introduction International trade is often referred to as bilateral trade where different countries engage in trading activities. International trade has been very instrumental in providing crucial goods and services to various countries. International trade can also involve the exchange of capital goods across territories. International trade has been made possible by the increasing globalization and […]

“The Wealth of Nations” by Adam Smith

In his book The Wealth of Nations, Adam Smith makes several important claims about the functioning of economic and tries to explain the welfare of the society can be improved. His central thesis is that countries should increase the value and productivity of their labor in order to promote the welfare of citizens. To some […]

Economics: Human Capital and Poverty in Scottsdale

Concept of Human Capital The concept of human capital defines the quality of labor that makes different people earn different salaries within a given organization. Phillips defines human capital as a measure of the value of skills and competencies of an individual and that “the concept of human capital recognizes that not all labor is […]

Critique of the Canada and Quebec Pension Plans Reforms

It is imperative to note that the Canadian and Quebec pension plans (CPP and QPP) were originally meant to take care of supplementary savings bearing in mind that saving skills have been a major challenge among several Canadians. Those who are agitating for CPP and QPP reforms must be missing an extremely critical point in […]

Global Economic Crisis

The global crisis team members include; Christine LaGarde, Warren Buffet, & Colin Powell. These are people from various parts of the world who play major roles in the world economy. For example, Colin Powell is an American politician who has experience in military leadership. Having led the American army for many years, he has the […]

Weber and the Rise of Capitalism

Max Weber is known for his analysis of the factors that led to the creation of modern capitalism. In various works, he examined social, ethical, philosophical, and religious forces that shaped the system of production that emerged in Europe as well as the United States. His ideas are discussed by many modern scholars who focus […]

Critical Analysis of Greece

Introduction Globalization is instrumental to the current economic trends in countries all over the world. These include the intra-industry trade, which brings together or connects the world through the sharing of ideas, technologies, and trade markets among other things. According to Ricardo’s theory of comparative advantage, countries trading with each other benefit a lot from […]

Economic growth in Canada between 1990 and 2000

Introduction Canada is a country that lies in the northern side of United States of America. Canada became independent in the year 1867. It has three territories and about ten provinces. The country extends from the Pacific Ocean to the Atlantic. Its geographical area coverage is about 9.98 million per square kilometers. Canada is the […]

The 2008 Financial Crisis

The housing and monetary policies are the key causes of the 2008 economic crisis. Two main mortgage firms, the Fannie Mae and Freddie Mac Corporation eased the credit requirements on loans it purchased from lending institutions. In September 2008, the two giant mortgage companies faced the danger of bankruptcy as they had guaranteed close to […]

Usury and Ethics

Historically, usury has been thought of as being unethical. The people who practiced usury were shunned by society as they were seen as greedy. Historical hatred towards usury is also well documented by Shakespeare in his book “The Merchant of Venice” where Shylock, a Jew who practices usury, is loathed by the members of the […]

The Youth Unemployment Crisis in Spain

Causes of unemployment in Spain The labor market in Spain has reached its peak following the four-year crisis that that country has undergone. This situation has been signified by the high unemployment rates that have been witnessed in the country. Currently, the rate of unemployment in Spain stands at 24.8% (The Guardian, 2013). By undertaking […]

Marketing Strategies: Liberia

Liberia is one of the world’s poorest countries with a gross domestic product of less than $1000 per capita. Many of the country’s economic misfortunes can be attributed to the first Liberian Civil war that lasted between 1989 and 1996. These civil wars resulted to many investors fleeing the country but a change in the […]

Marxist Critiques of Capitalism: Theory of Surplus Value

Introduction Marxist critiques of capitalism challenge each other in many aspects. However, the three critiques are interrelated. Theory of surplus value This theory states that surplus value is a factor of surplus production. This theory also encompasses labor. Thus, capitalism exploits the common work force. The surplus production is constantly being created. In fact, workers […]

Industrialization and Modern Economic Growth in India and China

Introduction In the 18th century, India was a chief actor in the global textile export market. However, by 1850, it had lost not only a substantial share of its export market but also the local Indian domestic market. Other than the textile industry, other local industries also suffered some decline. As a result, India was […]

Economic Growth and the Living Standards

Introduction Economic growth refers to the process through which improvement in an individual’s standard of living is achieved (Baumol, Litan & Schramm 2007, 34). During the 20th century, most of the developed countries such as the United States, United Kingdom, Germany, France and Japan experienced a rapid improvement in the citizen’s living standards. This arose […]

Impact of the Global Financial Crisis on the World

Introduction The recent global financial crisis happened between the years 2007 and 2008 that was a serious threat to the financial markets in the United States and the rest of the world. The previous global financial crisis was during the great depression of the1930’s. The decrease in consumer’s wealth and decline of the economic activities […]

Effects of Hedge Funds on the Global Financial Crisis

Article Summary The article titled “Don’t Blame Hedge Funds for Financial Crisis, Study Says,” in 19th September 2012 issue of the The Wall Street Journal, attempts to remove the hedge fund from blame in the global financial crisis. The article reports that banks were the major causes of the global financial crisis. Introduction Prior to […]

Rise of South Korea Economy

Introduction South Korea has one of the most fascinating economic histories in the world. A country that was once threatened with war and instability, overcame all the odds to become a shining star in the Asian region and around the world. How did South Korea rise to attain its current economic status? This research explores […]