References: The Economist‚ 2008‚ Lifelines‚ The Economist‚ 09/10/08. The Economist‚ 2007‚ Lessons of the fall‚ The Economist‚ Vol 385 Issue 8551‚ p91-93‚ 20/10/2007.
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there was hardly any important and serious discussion of the problem of unemployment. However‚ some underlying issues were discussed by the classical economists. The classical school between 1770 to 1870 mainly includes such leading economists as Adam Smith‚ David Ricardo‚ J.B. Say‚ John Stuart Mill and Karl Marx. The later neo-classical economists like Alfred Marshall (between 1870 to 1930) had hardly anything to add to the classical theory. Professor A. C. Pigou‚ the contemporary of Keynes strongly
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Monetary policy is the use by the Government or central bank ( In Indian Context RBI) of interest rates or controls on the money supply to influence the Economy. The reserve bank of India is the agency which formulates and Implements monetary policy on behalf of the Indian government in an attempt to achieve a set of objectives that are expressed in terms of macroeconomic variables such as the achievement of a desired level or rate of growth in real activity‚ the exchange rate‚ the price level or
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Allen‚ L. Robert. Past Due: The American Quest for Reparations‚ The Black Scholar (Summer 1998) The Economist‚ “Slavery and the Law: Time and Punishment”‚ The Economist Newspaper Ltd‚ April 14 2002 Is now the Time for Reparations for African Americans? Since the first day Africans were kidnapped from their lands‚ to the whips that tore across their flesh‚ to the African Americans facing economic hardship. African Americans have been subject to these hardships by one factor; the white man. Their
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Suggest how an economist would approach the problem of alcohol abuse. Provide two (2) possible solutions to this problem. Include the four (4) elements of the economic way of thinking in your analysis. The Center for Disease Control came up with an astonishing record of how much binge drinking cost the United States each year. On average‚ excessive alcohol consumption costs $223.5 billion each year‚ mostly due to lost workplace productivity and increased health care costs. (Kliff‚ 2012) To take
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The Differences Between Macro & Micro Economics . Microeconomics • Microeconomics studies business decisions made on an individual level. A small business owner‚ for example‚ must consider all sorts of financial decisions in order to keep a business afloat and operating‚ such as the allocation of resources‚ and must follow the tax and state regulations created by the government. Price levels must also be determined with the help of supply and demand. A business owner must thus need to know how
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Free Trade iii. Anti- dumping iv. Environmental factors v. Employment opportunities and the concept of balance of payments disequilibrium vi. Cultural influences c. Protectionism vs. Free Trade d. An analysis based on % news articles from‚ The Economist i. Appendix.1 ii. Appendix.2 iii. Appendix.3 iv. Appendix.4 v. Appendix.5 e. Conclusion Is Protectionism ever justified? Explain with examples. a. Introduction Protectionism is said to be a “Government’s actions and policies that restrict
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explains how the world first moved toward more government control and then began to move away for most of the 20th century. During this time two young economists emerge in hope to solve the world’s economic troubles‚ John Meynard Keynes and Friederich Von Hayek. The story then focuses on the struggles that occur between the ideas of the two economists. Keynes‚ whose ideas on government intervention dominated much of the 20th century‚ and Hayek‚ whose free-market ideas were largely ignored until the
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that since government intervention is the root of underdevelopment in LDCs themselves‚ and only when they use supply-side policies are free up markets will growth and development occur. This shifts the Long Run Aggregate Supply. 2. Neoclassical Economists advocate the following strategies: a. Competitive free markets b. Privatization of state owned industries c. Move from closed to open economies (no trade‚ to trade) d. Opening the domestic economy through encouraging free trade (abolish protectionism)
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especially‚ Robert Solow. *The author is the Frank Ramsey Professor of Economics at the University of Cambridge and Fellow of St. John’s College. Mailing address: Faculty of Economics‚ Sidgwick Avenue‚ Cambridge CB3 9DD‚ U.K. Prologue Most economists I know have little time for the philosophy of economics as an intellectual discipline. They have even less patience with economic methodology. They prefer instead to do economics. If they are involved in serious methodological discussion at all
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