Essays on Economic System

Introducción The selected theory is the Keynesian theory which is articulated in a news article published in The Washington Post. The news article published by Carter (2020) is titled ‘the $1 trillion stimuli isn’t about cash. It’s about restoring faith in the system’. It was...

Classical economists assume that production costs are the most significant factor in the item cost. Neoclassical economists believe that the buyer’s perspective on the expense of a product is the driver of its cost. They consider the economic surplus the difference between the real cost...

Introduction Haiti is a developing economy, and the GDP of Haiti was given at 9.66 billion USD in 2018 (Trading Economics, 2020). The country’s GDP has been boosted by the informal economy with majority of the companies investing in the formal economy. On the other...

Introduction New Keynesian economics attempts to provide a microeconomic foundation for sticky wages and prices (Gartner, 2013). In macroeconomics, the ‘Keynes versus Classics’ debate began in the 1930s and has continued in various forms to this day. For instance, during the ‘great inflation’ of the...

Political ideology is a fixed or settled set of ethical ideas, principles or foundation for a system, doctrines about the political, economic, social and cultural affairs held by the people and explains how the society should work on, how to allocate power and on what...

In this essay an effort has been made to understand the different application of mathematics in economics and to analyze its usage in day-to-day life. It was also observed how the study of mathematics and economics could be combined and applied in our life. I...

The global economy has been shifting tremendously since 2016. Led by Brexit, rise of populism in the continent of Europe, and Trump’s presidential victory, globalization has been shaken to its core and has become blighted by uncertainty, both from a political and economic perspective. Political...

In the book Freakonomics by Steven D. Levitt and Stephen J. Dubner, the most erratic combinations of topics are discussed. Economics is addressed in the most unconventional way and lead by questions that are not asked of regularly or even at all until now. Levitt...

In the book Freakonomics, composed by financial expert Steven D. Levitt and journalist Stephen J. Dubner, the authors experienced various pieces of present day life to demonstrate how economics clarifies why people act in a manner just as the way explicit results happen. They examine...

Politics, Philosophy and Economics intertwine to act as major global driving forces. Due to the interactions between the three, exemplified in tax cuts leading to greater inequality in the US, I am deeply interested in studying these combined disciplines at a higher level. Inequality was...

Verge (XVG) ups and downs in 2018 have made it stronger. As the warm sunny days of summer closed off in mid-August, so too did the cryptocurrency market prices across the charts. As most investors cried foul of the downward trend, those holding Verge Currency...

Introduction Economic systems are the methods by which nations and governments convey assets and exchange merchandise and enterprises. They are utilized to control the five components of creation, including: work, capital, business people, physical assets and data assets. In regular terms, these creation factors include...

In order to meet the demands for a burgeoning economy, Beijing had to specialise areas to fulfil different economic functions. In the interest of attracting and utilising outside capital, Development Zone planning were increasingly prominent in Beijing during this period (Gaubatz). These zones served as...

Corruptions in public & government agencies exist globally, disturbing worldwide economy through money laundering, with various forms such as embezzlement, bribery and abuse of powers. As reported by the Bloomberg in May 2018, the recent Malaysian 1MDB scandal involved more than 10 countries to launder...

Abu ‘Ubayd stated: In a few reports it says that the month implied by ‘Uthman was Muharram. By saying this, ‘Uthman 4 affirmed the accompanying standards: (I) That zakat is to be paid every year because the condition for paying zakat – aside from because...

This article is about the importance of the working of the economic system of what might also be termed as Institutional structure of production. The various concepts like Free market theory, Coarse theorem, Transaction costs and its fundamentals, Externalities related to the production and Negotiations....

Transportation keeps the global economy in motion. Without transportation industry, and especially without the shipping sector, it would be impossible to trade, let alone in the scale of our times, goods and services. The world economy has had such a huge growth over the last...

Cryptocurrencies are fundamentally changing the nature of economic transactions in the world. They are also challenging the traditional power balance in a society where the dissemination of money is controlled by central authorities. Governments at all levels all over the world are unsure how to...

An economic system is a system of production that deals with the distribution of goods and services within a society or a given geographic area. Two of the most popular economic systems that emerged in the last centuries, capitalism and communism, have been utilized throughout...

Economic situation The region’s economic situation is influenced by the proceeding economic crisis in Russia and the changing conditions of doing business in the oblast. This is partly due to the termination of tariff concessions on April 1, 2016 which used be a part of...

Following a peaceful referendum in January 20011, South Sudan became the newest state in the world in July 2011.As a new state it struggles with the development that needs to occur in the area in order to become economically stable. One big obstacle is the...

Since 1992, EPR has conducted 70 country reviews, with the majority comprising of reviews of the Organization of Economic Co-operation and Development countries, although a growing number of partner countries are participating. The current review cycle examines key environmental trends within any given country, the...

Under IAS 39 substances frequently measure non-enthusiasm bearing here and now exchange receivables and payables at the receipt sum instead of reasonable incentive on the premise that any distinctions are unimportant, so where it’s expect that this change will have restricted effect. Furthermore, IAS 39...

What is Excellence? This section talks about the difficulties of measuring an administrator’s “excellence”. Excellence in any private sector is fairly easy to define because there is a concrete measure, how much money they’re bringing in. But public administrators can’t be rated the same way...

China’s economy seems to be losing some steam in Q4 as the economy is transitioning towards a more sustainable growth trajectory. Courtesy the cooling property market, investment growth decelerated in November. Government’s campaign to improve air quality also led to the weakening of industrial production...

Before 1979, China maintained a centrally planned command economy dominated by state-owned enterprises where the government planned all that was related to the economy of the country (e.g. deciding on economic output, controlling prices, allocating resources, etc.) and keeping the country relatively isolated from the...

The two perspectives of capitalism are similar in that they advocates for free market economies where there is increased privatization of businesses, liberalization of markets and absence of coercive impositions or restrictions from the government regarding economic activities. According to Kates (2014), free-market economies are...

1.0 BACKGROUND OF THE STUDY The need to secure sufficient retirement income is at the core of every decent government in an ideal society. It was perhaps, this irreducible core that led to the creation of pension and social security systems in our world today,...

Introduction The Keynesian School and Austrian School of economics have contradictory beliefs in relation to how the economy should be run. The Austrian school approaches the economy with a laissez-faire ideology, where the economy should be able to self-regulate to a point of equilibrium. In...

Rosca’s are locally organized groups that meet at regular intervals; at each meeting members contribute funds that are given in turn to one or more of the members. Once every participant has received funds, the Rosca can disband or begin another round Besley, Coate and...