The Keynesian School Of Economic Thought - 1151 Words

1) List three key concepts from the Keynesian School of economic thought: (25 points) At least one concept must describe the management of aggregate demand. a. The primary concept of the Keynesian School of economic thought revolved around the management of aggregate demand. The author of this idea, John Maynard Keynes, believed the economy was fundamentally unable to sustain itself at full employment. One of his proposed solutions to this was for the government to intervene to increase aggregate demand. He argued that by investing government funds, the amplitude of the business cycle could be reduced and would stabilize continued economic growth. Another method of managing aggregate demand involved taxation. By lowering the taxes on certain goods and raising others, the government could influence public demand for certain products to fluctuate based on its benefit to the economy as a whole. b. Another concept of Keynesian thought is that of excessive savings. Mr. Keynes believed that if savings occurred in excess of the planned investment it would increase the possibility of a recession or depression. He believed that excessive savings were caused by discouraging business prospects, over investment in previous years, and a decrease in consumer demand. The law of supply and demand states simply that as savings increased interest rates would drop, until there was no longer reason to save; this plunging interest rate would bring the economy in balance once again. Mr. KeynesShow MoreRelatedThe Keynesian School Of Economic Thought1948 Words   |  8 Pagesprosperity they have been recognized and titled as the Keynesian School of Economic Thought as this is a theory believing aggregate demand is influenced by public and private economic decisions. There is also the Monetarism School of Economic Thought which focuses on how the money supply has an effect on the economy and tr ies to have a stability in price level. A third theory also considered very important is the Austrian School of Economic Though as this theory is a believer of logical thinkingRead MoreNeoclassical Theory Of Keynesian Theory1578 Words   |  7 Pagesthe Neoclassical-Keynesian synthesis? In what way does it differ from the Cambridge (UK) view of Keynesian economics? Intro The Neoclassical-Keynesian synthesis contains theoretical principles and ideas from both the Neoclassical school of economic thought and Keynes’ General Theory. The UK Cambridge Post Keynesian view of economics also contains elements from both these schools, yet the Neoclassical Keynesian synthesis and the UK Cambridge Keynesian bodies of economic thought differ in their viewsRead MoreNeoclassical Economics Vs. Keynesian Economics1583 Words   |  7 Pagespost -Second World War growth period, which is called Golden Age of Capitalism, has a great influence in human economic history. During the period of time, a great many of the capitalist countries have dramatically increased their economy and prosperity, such as United State which has a substantially economic expansion at an average rate of 3.5% annually between 1945 and 1970. Economic growth may be resulted by deregulation of market, rise of automotive manufacture and industrialization which contributeRead MoreKayne vs Haye k1370 Words   |  6 Pagesbranch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. Macroeconomists study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. They develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance. The two major theories of economics are ClassicalRead MoreEconomics : Classical Economics And Keynesian Economics1665 Words   |  7 Pagesinteresting as the subject of economics is, it’s a subject that isn’t easily understood. In order to grasp the subject you have to really understand the concepts. And it’s not like riding a bike, once you know how to do it you will always have it engraved in your head. I will attempt to highlight the key factors of the two theories of economics: classical economics and Keynesian economics. Since Classical Economics is considered to be the first school of economics. I will start to explain this conceptRead MoreThe Theory Of The Classical School1694 Words   |  7 Pages The classical school is one of the economic thoughts; the key assumption of this school is that the market system is the most efficient system in the sense that the unencumbered market mechanism ensures the optimal allocation and utilisation of scarce resources. They also believed that â€Å"Supply creates its own demand.† (The early debate on policy atavism) In other words, in the process of producing output, businesses would also create enough income to ensure that all of the output will be sold.Read MoreClassical Economics And Keynesian Economics1124 Words   |  5 PagesClassical Economics and Keynesian Economics has given me the opportunity to form an opinion on this greatly debated topic in economics. After researching this topic in great lengths, I have determined the Keynesian Economics far exceeds greatness for America compared to that of Classical Economics. I will begin my paper by first addressing my understanding of both economic theories, I will then compare and contrast both theories, and end my paper with my opinions on why I believe Keynesian Economics isRead MoreClassical Vs Keynesian Economics1235 Words   |  5 PagesClassical and Keynesian economics are both accepted schools of thought in economics, but each had a different approach to defining economics. The Classical economic theory was developed by Adam Smith while Keynesian theory was developed by John Maynard Keynes. Similarities: One of the most surprising similarities between the two theories is that John Keynes developed his theory based on the Adam Smith’s theory. Keynes did not entirely disagree with Adam Smith but rather, expanded the theory basedRead MoreComparison Of RawlsTheory Of Justice1724 Words   |  7 Pagesneoclassical school strongly endorse. However, there are certain contradictions between the Rawls’ Theory of Justice and neoclassical thought that Bradford brings up in his paper â€Å"The Economics of Rawlsian Justice: Can it be Neoclassical?†. These contradictions are mainly the disparities in the assumed world in that are essential to both ways of thinking. Without assuming the same characteristics in the world you are analyzing, it is impossible to verify that the two ways of thought coincide. Rawls’Read MoreThe Economic Schools Of Thought1445 Words   |  6 PagesFreshwater Economics Macroeconomic schools of thought would be prudent to accept certain aspects of the views of other schools of thought to better understand the scope of economic efficiency through the use of various models aimed at understanding the implications that all actions affect outcome. Like other economic schools of thought, Freshwater developed from previous schools of thought as new macroeconomic ideas were discussed and disputed. Neoclassical synthesis was a postwar movement

International Trade And Gender Wage Inequality - 1426 Words

International Trade and Gender Wage Inequality Motivation for the Research: In recent years, globalization and international trade has become a significant issue for countries. Consumers tend to use more goods and services and due to the lack of resources, the need to trade with other countries seems to be inevitable. Assuming that globalization would occur, labor factors become noteworthy. Although growth in international trade provide more job opportunities for people, there are still inequality in wage between male and female labors. According to Heckscher-Olin model, trade liberalization in developing countries, would lead to decrease in wage inequalities among low-skilled labors. The intuition behind this theory is that, when trade liberalization occurs in developing countries, production will relocate to those factors that intensively use the relatively abundant of that factor. Since in developing countries low-skilled labor are abundant than skilled factors, opening up trade would increase the demand of that factor, so based on Stolper-Samuelson theory, relative prices of that factor will increase. This may result in a decrease in the gender wage gap since women are likely to have fewer observable job skills than men in general (Artecona and Cunningham, 2002). However, some researchers have other ideas. This made the topic as a controversial problem between economists. There are some case study and surveys about this contradiction that will be presented in theShow MoreRelatedFdi Essay1662 Words   |  7 Pagestraining, direct technological diffusion, innovation and imitation. Indian economy has featured rising wage inequality and demographic dividend simultaneously since the last decade. This study empirically assesses this effect in Indian manufacturing firms using unbalanced panel data for the period 2001-2015. FDI is found out to be stirring up wage i nequality with positive relation between relative wages and interaction term of training and FDI suggestive of positive demand side effect of FDI only throughRead MoreHuman Capital Theories Consult With The Education Information Training1579 Words   |  7 Pagesunderstood as a cause of the gendered wage hole but is now not a foremost cause as women and men in positive occupations generally tend to have comparable education tiers or different credentials. Even when such traits of jobs and workers are managed for the presence of girls within a positive career ends in lower wages. This income discrimination is considered to be part of pollutants principle. This concept shows that jobs that are predominated through girls offer lower wages than do jobs sincerely becauseRead MoreSocial Justice And Its Impact On Human Development1731 Words   |  7 Pagessociety, the society will in turn provide for them has existed in cultures across the globe for centuries, but following through and e nsuring that no one is â€Å"harmed† in the process is what has proven to be difficult. Attempts to form bonds with international markets and develop growth of domestic markets through globalization have had negative impacts on the nation’s job market, putting its own citizens jobless and barely able to sustain a proper day-to-day living. According to the United NationsRead MoreGender Inequality Within The Workplace1379 Words   |  6 Pages  Gender inequality refers to unequal treatment or perceptions of individuals based on their gender. It arises from differences in socially constructed gender roles as well as biologically through chromosomes, brain structure, and hormonal differences. There is a natural difference also in the relative physical strengths of the sexes. In the workplace Income disparities linked to job stratification Wage discrimination exists when workers are equally qualified and perform the same work butRead MoreGlobalization and Human Welfare1656 Words   |  7 Pages International free trade has become the foundation of neoliberal globalization. The main organizations for carrying out free trade are World Trade Organization (WTO) established on 1995, International Monetary Fund (IMF) and World Bank (WB). The main aim was to promote development and trade. Trade has become the lens through which development is perceived, rather than the other way round . The concept of trade evolved right from Adam Smith and David Ricardo who introduced the concept of comparativeRead MoreGender Inequality Within The Workplace Essay1209 Words   |  5 PagesGender Inequality in the Workplace The generation now has made it easier to equalize men and women but there is still a substantial amount of places where gender inequality is still happening in the workplace and where females still face discrimination. Women are often discriminated in the workplace and are usually not promoted as quickly as men are and they also receive less pay. History shows that women have not always been defined as property and thought of as second class citizens. But inRead MoreSo Much Inequality in Our World1677 Words   |  7 PagesGlobal Inequality Most likely every single person in the world is going though an inequality and suffering from it in the society that we are living in such as racial inequality, gender inequality, income inequality, global inequality, and etc. Even though there are more people today joining organizations or associations to stop inequality than before, social inequality is keep growing. We need to think about why inequality is keep growing and not getting batter as the time goes. Growing inequalityRead MoreThey Are Several Important Issue That Human Resources,1745 Words   |  7 Pagessure as gender, race, and ethnicity. All for this play a big role to how companies make it and how they find ways to solving the issue. In this paper, I argue that workplace Discrimination by gender and race are inadequately in organizations, causing uncertainty policies, which modeled aggressive response. A 2013, study by Sarra Ben Yahmed, who did an article on ‘’Gender Wage Discrimination and Trade Open ness. Prejudiced employers in an open industry’’ which goes to explain The International tradeRead MoreWhy Are women Paid Less than Men? The Gender Gap1371 Words   |  6 PagesPaid Less Than Men? The Gender Gap Introduction The equality between men and women is an integral part of human rights, it is also a prerequisite for democracy and social justice. Any democratic state seeks to promote gender equality in all spheres of life. Despite the creation of a strong legal framework to ensure the principle of equality of both sexes, the gap between men and women about their capabilities remains significant (Pomeroy, 72). One of the criteria of gender equality is equal pay forRead MoreEffects Of Income Inequality1038 Words   |  5 Pagesof the biggest concerns in most societies. Independent of philosophy, culture, or religion, the society always care about this growing issue. Inequalities are shown in diverse ways by people’s position in the distribution of wealth or income but could also be related to other characteristics like having a disability, different ethnicity or background or gender. In the 2005 World Development Report elaborated by the World Bank, it is stated: â€Å"We now have considerable evidence that equity is also instrumental

How Should Social Networks Be Utilized in the Workplace Free Essays

How could these social networking sites be a threat to a company’s security? In today’s world it seems the human race could not live without information technology in the workplace. More importantly, social networks like Facebook and Twitter are becoming very popular tools for business development in today’s world. There are dozens of social network sites and more popping up every day. We will write a custom essay sample on How Should Social Networks Be Utilized in the Workplace? or any similar topic only for you Order Now It is astounding the number of hours that people waste on such sites. Updating, checking in and sending out bits and blurbs about every little aspect of one’s life seems cheap. More astounding than individuals wasting time on these things is that businesses are also wasting time on them. Actual megabuck businesses are in on the whole social networking shtick. The challenge for the business world is how to utilize these social networks effectively and safely. The value of social networks and how they can benefit businesses has been in question recently. Also in question is do these social networks create a security risk with employees conveying possibly privileged information to a friend or relative through Facebook or Twitter. How does a company prevent potential security risks? They have to block social networking sites or grant limited access to specific departments. Metro Business College prevents students from accessing social networking sites on school computers but allows faculty and staff to access from their desk computers. Metro’s reasoning is students should be at school to learn, not stare at Facebook all class period. The question then is not are these sights a security risk but rather are these sites a huge time suck for employees which creates a reduction in productivity? The biggest risk a company a company faces is how employees that utilize these sights can make their company look and what effects it could possibly have on their reputation. How social networking can tarnish the reputation of a company or enhance it. Unfortunately, there is a downside to social networking. It is essentially an open forum and anyone can say and post anything on a company’s page. For the most part, it is potentially dangerous to a company’s reputation. Due to this fact, a company’s networking site should have limited access when it pertains to posting information. Take, for instance, a recent report on The Springfield Brewery in Springfield, Missouri. The social media specialist posted a humorous joke to its Facebook page and unfortunately it was met with several disgruntled comments. Several customers stated they would never â€Å"step foot n the restaurant again†. [ (Pettit, 2013) ] It is bad press such as that over such a small comment that could potentially destroy a company. On the other hand there are companies like Tupperware that use social networking internally to boost the pride employees have for the company, the attachment an employee feels and fun an employee has while at work. [ (Huy, 2012) ] After adopting these social media con cepts the turnover rate fell by fifteen percent and a webcast created new sales of $700,000 in just three days. (Huy, 2012) ] Sometimes social media can create opportunities for companies that they normally would not have and it is the companies that are willing to evolve and understand the importance of social networking that will survive. Another company that utilizes social networking site is Metro Business College they found that websites such as Facebook and Twitter can be excellent recruiting tools and also they are useful to keep track of their student body and possibly help them if they have issues with homework or even personal problems. Social networking can be an invaluable tool to an organization if utilized properly and monitored by administrators to prevent potentially damaging posts or comments. How to make social networking work for the greater good of the company LinkedIn can be a valuable tool. Resumes can be posted there which can be utilized by human resources departments for recruiting purposes. Potential employees post their profiles there, which also can be utilized by the human resources department to check the character of a potential recruit. Slovensky, 2012) Some companies are requiring potential employees to provide human resources access to their Facebook pages so they can see the character of the candidate. Companies post jobs on networking sites like LinkedIn and Facebook which can benefit other companies to view how their competition is doing, if they are posting new positions then that company is most likely in a state of growth. People looking for jobs are on these sights and they provide all the information a potential employer needs to make an informed hiring decision. When it comes to professional social networking, LinkedIn is the most successful site of its kind. It is better than Facebook or Twitter because it eliminates the everyday social aspect, including the posting of how one’s morning breakfast made them feel and the LOLs. Another benefit of LinkedIn is that all discussions and groups are moderated. Nonsense is kept to a minimum. Rarely does one have to deal with spam or irritation there. It is a safe haven for serious social networking, for serious business connection building and for serious relationship building. However, there are benefits to using networking sites like Facebook as well. After all, Facebook does have 175 million members according to an article called Inside Facebook written in 2009. Maintaining the strategic advantage through e-business and social networking The questions a company must ask are:  To how many social networks do you belong? How valuable are they to you? If they went away tomorrow, would you feel any impact to your business? A simple answer is that individuals should choose one or two professional networks and farm those like any other social networking situation. Leave the shot gunning to the amateurs. Make connections that count. 10,000 â€Å"Likes† do not mean anything if they are not buying, reading, recommending or influencing. Companies should not waste your time with such pursuits. The return on investment is not high enough. Mass mailings do not work. Certain types of advertising just do not work for some businesses. Building relationships with clients is the most important aspect of any business and that is best done through human contact not a mass email. Do not rely on flash-in-the-pan online social networks to build your business. Clients and potential clients like to know that there’s a 98. 6 degree hand on the other end of those messages and not a piece of software. It might sound old-fashioned and outdated but there is nothing like true social networking to build a business. A company builds a business through building relationships. Studies have shown that relying on social networks to create strong ties actually has the opposite effect and instead weakens them. Facebook is a good example of a social networking site that creates weak ties (Jennifer, 2010). Instead of creating direct networks among its participants, the social networking site creates sub-networks. With no direct link to the company or the issue at hand it can create weaker ties and a customer that does not show as much company loyalty. (Slovensky, 2012) In the end it does not matter how the company views social networking but how the customer base views that company’s use of these social networking sites. If they are well monitored and provide password protected use for a limited amount of employees then it can be beneficial. However, the biggest issue most companies face is that one instance when something is posted that causes a security breach or something is posted that hurts the company’s reputation. They then have to answer the question, what do we do next? Social networking is not going anywhere in fact it is growing everyday with new sites popping up all of the time and companies that want to survive will need to get on board. References Huy, Q. . (2012). The key to social media success within organizations. MIT SLoan Management Review , 54 (1), 73-81. Jennifer, S. (2010). Planning in the age of facebook: the role of social networking in planning processes. GeoJournal , 75 (5), 407-420. Slovensky, R. . (2012). Should human resource managers use social media to screen job applicants? managerial and legal issues in the USA. Ifno: The Journal of Policy, Regulation and Strategy for Telecommunications, Information and Media , 14 (1), 55-69. How to cite How Should Social Networks Be Utilized in the Workplace?, Papers

The Defense of Marriage Act free essay sample

The law thoroughly states how conservative republicans thought that by passing this law they’d gain univeral American support to help them in elections. ttp://www. huffingtonpost. com/waymon-hudson/over-70-major-companies-f_b_1080485. html This website displays the companies that are against the DOMA act. The Defense of Marriage Act (DOMA) is a law that was formed in 1996 by Congress, and was signed into law by then president Bill Clinton sought to be enforced by the Supreme Court that defines marriage as a union between a man and a woman. Traditionally, marriage is defined as a lifelong union between a man and a woman at the pinnacle of their life’s down until their final years. And the purpose of DOMA is to protect that sense of unionship in the United States and rather preserve it than destroy it. DOMA is a tricky subject. What I would like to learn about this subject is who backs this clause with full support and effort and who is absolutely against it. We will write a custom essay sample on The Defense of Marriage Act or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Although, as I’ve researched and read about this topic I’ve learned that DOMA is against gay-marriage so almost naturally I know that american homosexuals would be against this, but it would serve me well to learn about and delve further into if any politicans or important figures ho’re against this as well as that demographic of people. I personally do not agree with the DOMA act because I believe that, whatever your sexual orientation may be that you should be able to marry and it should not be limited to just a union between a man and a woman. The final ruling for DOMA is not to be made until June of this year, one of the more recent Supreme Court cases that dealt with DOMA was Pedersen v. Office of Personal Management. When passed in 1996, the bill contained the following guidelines restricting same sex married couples from being able to do the following: 1. File their taxes jointly 2. Take unpaid leave to care for their spouse 3. Receive spousal benefits under Social Security 4. Receive equal family health and pension benefits as federal civilian employees. Along with DOMA being against same-sex rights, the Respect for Marriage Act (RMA) is for respecting the benefits of all married couples including same-sex married couples such as making those particular couples eligible for federal benefits and security those being family and medical leave, or Social Security spousal leave and survivor benefits although it cannot support grants at the state level.