indicates a moderately high level of income inequality within the economy. The benefits of income inequality may be that it encourages the labour force to increase education and skill levels and it also encourages the labour force to work longer and harder. Some of the economic costs of inequality may be that inequality reduces overall utility and it can reduce economic growth. Subsequently there are mainly economic benefits of inequality‚ but social costs are involved. Whilst theory suggests that greater
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Potential Economic Benefits of Gay Marriage in New York Just recently our nation has taken initiative into changing the gay rights that our nation lacks by repealing the Don’t Ask Don’t Tell policy that was established in 1993 by our former president Clinton. In the United States there are only five states‚ not including District of Columbia‚ that have legalized same sex marriage. Lawmakers ignore the fact that legalizing gay marriage has economical benefits. If the state of New York were
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WAR on Terrorism: Impact on Pakistan’s Economy Rehana Saeed Hashmi * Abstract In analyzing the government of Pakistan’s policies towards USA in the war against terrorism‚ this article focuses on Pakistan US relationship and US assistance to Pakistan for economic development. The main concern is to understand the environment of mistrust between the two states and need to analyze that Pakistan’s economic development should be based on sound long term economic policies. In the region of South Asia‚
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FIELD EXPERIMENTS IN ECONOMICS By: Ravisha Sodha INTRODUCTION: Field experiments occupy an important middle ground between laboratory experiments and naturally occurring field data. The underlying idea behind most field experiments is to make use of randomization in an environment that captures important characteristics of the real world. Distinct from traditional empirical economics‚ field experiments provide an advantage by permitting the researcher to create exogenous variation in the variables
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The Economic Influence of War on Germany Throughout the history of the world there have been many wars‚ and with that said‚ there have been many effects that war has had on the economies of the countries involved. Not only can a war hurt individuals mentally and physically‚ but it is often overlooked how greatly it can economically devastate a country. For example‚ after World War I‚ a large amount of Germany was left in ruins. Cities were wiped out‚ businesses were blown off of the map‚ and
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After the First World War‚ the economic condition of Germany became very weak. The German troops lost in the war and then Germany was economically destroyed. They were forced to pay war reparations to both Great Britain and France. Also‚ most of the people in the Germany were unemployed. Germans started making plans to find out the ways to generate new job in different fields like in power plants‚ transportation‚ and other related fields. Due to the huge increment in the social spending and sudden
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World War One was the global war. This event took place in Europe and it lasted for four years and three month. The reasons behind the causes of war includes variety numbers of reasons and event that took place. These problems mainly focuses on the economic factors and the political factors. Some problems in the economic factors includes the alliance system. The problem with the alliance system was the central power and the triple alliance and the relation between these two different alliances
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Andrew Jackson looked on toward a new democracy after his victory at New Orleans. The changes in this time period‚ after the war of 1812‚ would send America into a troubled future. The Post war political and economic changes would prove to be another stepping stone in America’s evolving democracy. The political changes after the War of 1812 would redefine America’s newly founded Democracy and contribute to a greater national government. Andrew Jackson gained America’s respect after his victory
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The Effects of World War II on The U.S. The United States first faced the problem of World War II by trying to stay out of the war. However when France fall to Germany‚ Britain was the only democracy government left in Europe. The United States decided to help Britain as much as they could without entering the war. Therefore came the Lend-Lease Act which permitted the U.S to lend‚ lease‚ or sell any arms‚ ammunition‚ and food to any country that seemed vital to the U.S safety. Although the U.S navy
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The French and Indian War also known as the Seven Years War was a major conflict between the French‚ with the support of the Indians‚ and the colonists who later received aid from Great Britain. The war’s effects range from the ideological relations between the colonies and Britain‚ which gradually changed from thinking of the British as a helpful source of protection to hatred towards them‚ to the political and economic changes imposed by Great Britain. The relationship between Americans and British
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