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The Benefits of the Economics of Socialism
Types of Economies There are many types of economies throughout the world that help individual governments function productively. Some types of economies oppose each other, whereas some are very similar except for a few minor rules and regulations. Socialism is the best economic system for investors, because the government...
Henry George, His Life, Views and Impacts on Economy
Henry George was a sort of renaissance man who had done everything from journalism to sailing. He never had a formal education and never went to college. At the age of thirteen he set sail on the Hindoo which went to Australia. On his return he came to Philadelphia until he decided to prospect for gold in California. He was...
Adam Smith's View of the Market Economy in Relation to the Governmental Checks and Balances
A market economy and the governmental checks and balances are able to relate to each other if we think of them as analogies of one another. If one does this then we have a market economy, which City On a Hill defines as “an economic model advanced by Adam Smith in which the forces of the individual self-interest regulate th...
The Misconceptions Regarding the Basic Economic Principles of the National Economy
Basic economic principles of the national economy are not complicated but two crucial misconceptions need to be guarded against: 1. the fallacy of composition and 2. Assessing economic activity as if it were a zero sum game in which what is gained by some is lost by others. Some misconceptions about the nature of governm...
The Importance of Incentives, and the Role of the Government in Market Economy
Chapter 2: Incentives Matter Adverse selection creates a market economy where contrasting information about services or products create a divide between the sellers and individuals, alerting results to be undesired as bad products will be more likely to be selected, creating a corrupt market. This leads to less products be...
An Examination of the Idea of Free Trade
Free Trade v. Protectionism In the world of business, one of the single most important aspects within a business, or even a nation is undoubtedly, the idea of trade. Trading is one of the planet’s oldest form of commerce, as even hundreds upon hundreds of years ago, many nations such as the United States, Spain, Britain, a...
Should the US Government Intervene in Gas Prices?
"The skyrocketing price of gas and oil has nothing to do with the fundamentals of supply and demand, and has everything to do with Wall Street firms that are artificially jacking up the price of oil in the energy futures markets. [...] The same Wall Street speculators that caused the worst financial crisis since the 1930s t...
Carnegie, Rockefeller and Other Industrial Captains
The Industrial Captains The industrial age was full of economic billionaires that achieved their status through innovation and using new technology. Most people say that these industrial giants were monsters using low-paid labor like slaves to achieve a high status, yet the truth is that they are ignorant. The industrial c...
The US Government Should Intervene during Severe Market Recession
“The largest challenge that we face, from my perspective, is the ability to continue moving forward so the agency will have a single mission: that is, to provide decent, safe, and affordable housing.” ~ Alphonso Jackson, former Secretary of Housing and Urban Development Introduction Many would argue that since the crash...
Hillary Clinton Should Use Keynesian Economics for Her Fiscal Policy
Hillary Clinton and Keynesian Economics As an economic advisor to Democratic frontrunner Hillary Clinton, I would advise her to follow Keynesian economics in her fiscal policy, with an emphasis on federally subsidized child care and pre-kindergarten for low-income families, a federally mandated fifteen dollar an hour minim...