scroll to top
The Benefits and Limitations of Gross Domestic Product
A country’s gross domestic product (or GDP)is“the total market value all final goods and services produced during a year”(Miller, 2013) with all factors and processes of production within the country’s borders. It measures the health of a country’s economy and gives economists a way to compare the wealth of a country with o...
The Formula to Find the State of the United States Economy
Forward Guidance: The State of the U.S. Economy People across the United States are filling up their gas tanks at unbelievable rates. Prices per gallon are at their lowest levels since the late 1990s and early 2000s, and it's no secret that consumers are enjoying it. A family in Charleston, South Carolina just filled up th...
The Measure and Understanding of the Human Greed
How Much is too Much It is human nature to want things that they can not obtain. Ever since the dawn of civilization, people have been trading and upgrading their possessions, either for food or other material items. However, once they get the product that they traded for, they want something else, that another person has,...
The Lack of Opportunities as a Cause of Poverty in Society
There are a number of definitions and measures of poverty, but none of them are generally accepted as the official one. Despite the different perspectives, it is possible to identify mutual arguments on why a person is considered impoverished. Social and economic inequalities have existed for centuries already and are prese...
A Discussion on the Issue of Population Growth
The ever-growing population is a problem. Thomas Malthus, who lived between 1766 and 1834, believed that the growing population was a sign of bad things to come in the future (Henslin, 2011). He wrote a book titled “An Essay on the Principle of Population” and ultimately proposed the Malthus Theorem. In the book, he said th...
An Argument in Favor of the U.S. International Expansion Through a Humanitarian Racism Point of View
Humanitarian Racism as Epiphenomenal to Industrial Expansion Marx famously argued that economic developments were the driving forces of history, and that everything aside from them were “epiphenomenal,” attractive explanations on the surface but ultimately either irrelevant or tied in some way to economic factors. Professo...
The Role and Impact of Genetically Modified Organisms in the Global Economy
The United States public have shown a mixed opinion on GMOS. Regarding polls conducted in the country for the last five years, there seems to be weak understanding of biotechnology among the citizens. According to a survey conducted byNew York Times in 2011, only 26 percent of Americans concede with presence of genetically...
Three Perspectives on Economic Inequality: Structural Functionalism, Conflict Theory and Symbolic Interactionist
The three man sociological perspectives are Structural functionalism, Conflict theory, and Symbolic interactionist. These three perspectives all have different views and ideas of the aspect of economic inequality in a society. When it comes to economic inequality, each perspective has a lot to say. Functionalism interprets...
An Analysis of the Influence of the Asian Infrastructure Investment Bank in China and across the Globe
International relations resemble interpersonal relationships. If one party were to form new conventions and habits, he or she is likely to meet arguments and impediments. This is the case of the Asian Infrastructure Investment Bank, proposed by China with its aim of providing finance to infrastructure projects and focusing...
The Calculation of Consumer Surplus
The calculation of consumer surplus has always been at the center of attention for many years. Now the proposition of a new a price-normalized form for this hot topic has been issued to look at any changes in welfare. Weitzman in his paper proposes that the formula can be viewed as an interpretation of a Taylor-Series expan...