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The Benefits of Raising the Minimum Wage in the United States
Minimum Wage Minimum wage has been a hot topic of debate in American policy for many years. In July 2016 Congress passed a nationwide law that minimum wage had to be at least seven dollars and twenty-five cents per hour. Since then there has been a movement called the push to fifteen because the current minimum wage is not...
558 words
2 pages
Horwitz's Reasons for Opposing to Laws That Prohibit Price Gouging
Horwitz Horwitz is opposed to laws that prohibit price gouging for three main reasons. Firstly Horwitz believes that laws against price gouging cause shortages in these areas. That is to say that these shortages are not caused by the disaster itself, but by the fact that prices are not allowed to fluctuate, muddling up the...
348 words
2 pages
The Government Should Stop Subsidizing Energy
A study by the International Monetary Fund estimates that post-tax
energy subsidies amount to over $5 trillion globally in 2015. The fiscal
cost by itself of energy subsidies is believed to cost $333 billion a year.
Why do we continue to subsidize energy when energy companies rake in
billions in profit each year? How have w...
685 words
2 pages
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...
495 words
2 pages
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...
565 words
2 pages
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...
884 words
3 pages
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...
574 words
3 pages
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...
1,016 words
2 pages
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...
801 words
4 pages
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...
1,223 words
4 pages
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...
622 words
2 pages
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...
2,186 words
8 pages
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...
797 words
3 pages
An Analysis of the ACA Impact on the National Budget of America
On the ACA Impact on the Federal Budget Deficit, the Author Dana
Smith compiles not only the CBO's referendum on the topic of
deficit/surplus implications, but also other NGO's, offering largely a
positive and inversely normative views on the ACA implications. Within the
compilation, the Budget and Economic Outlook: 2016 to...
2,300 words
7 pages
Marx's Critique of Political Economy in Pre-Capitalist Economic Formations
Pre-Capitalist Economic Formations (1857) is part of a much larger transcript that Karl Marx wrote while researching and preparing a critique of political economy that would be published in 1859. Marx was a historian who focused mainly on the discussion of historical materialism and describing the general mechanism that dri...
1,325 words
5 pages
The Struggles of the States to Generate Revenues and Dependence on Taxes
Over the past years, states have had many deficits, which created many problems in the budget. Many states found themselves cutting programs because the deficit was bigger than ever before. Although the government has contributed money to the state governments under the American Recovery and Reinvestment Act (ARRA) states,...
336 words
1 page
The United States Government Should Cut the Military Budget in Order to Reduce the Federal Budget Deficit
The Undefeated Monster: The Federal Budget Deficit The United States government currently has a budget deficit of 1.5 trillion, or 9.8 percent of our Gross Domestic Product. This has caused much alarm in the public eye, and the community depends on the government to reduce this deficit in the near future. The deficit has n...
5,740 words
19 pages
The Evolution of Capitalism in the United States Since 1790 to the Middle of the 21st Century
According to Werner Sombart, (1906) a German Economic America has been referred as the Canaan of Capitalism. Capitalism involves and a political and economic system in which the country’s industry and trade are often controlled by the private owners for profit in spite being controlled by the state. Capitalism in America is...
2,583 words
11 pages
An Explanation on Why Income Inequality Is Growing in Saving Capitalism: For the Many Not the Few
Robert Reich is a prominent American political economist who served as the Secretary of Labor under President Bill Clinton’s Administration and has authored many books about his political economic ideology, among them is Saving Capitalism: For the Many Not the Few. In Saving Capitalism,Robert Reich makes several claims ab...
1,405 words
5 pages
An Analysis of the Detrimental Effects of Oil Drilling in Impoverished Nations in Crude World: The Violent Twilight of Oil by Peter Maass
Peter Maass is a well-traveled New York journalist who has traveled to many countries. In Crude World: The Violent Twilight of Oil, he describes his journeys to several impoverished and structurally torn nations, noting the extremely detrimental effect that oil drilling in these areas, as well as the corruption and conflic...
661 words
2 pages
The Issue of Wealth Gap in the United States
Out of every single developed nation on Earth, the United States has the widest gap between those who are rich and those who are poor. Wealth can be described as the net worth of a person, or the value of their assets minus their liabilities (“Wealth Inequality”). In the United States, the net worth of the top twenty Americ...
1,945 words
8 pages
Issues Concerning the Federal Reserve's Policy: Dollar Valuation, Financial Debts, Healthcare Costs
Introduction Basically, quantitative easing could refer to a concept of increasing the money supply of various financial institutions through financial floods hence, increasing and promoting their lending and liquidity stability. This concept allows different financial and corporate world to enhance and facilitate the aspe...
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3 pages
The Rising Issue of the Removal of Streetlights in the United States for the Purpose of Conserving the City Budgets
On December 29, 2011, an article by Monica Davey was published on about a problem arising throughout the United States
dealing with the removal of streetlights to conserve already dwindling city
budgets. With the economy barely improving their revenue, small cities,
like Highland Park, Michigan (mentioned by...
301 words
2 pages
A Research on the Key Elements of Public Budgeting and Financial Management For the General Growth and Development
Introduction Public budgeting and financial management is very fundamental for any
development oriented nation. The budgeting and management champions the
concept of accountability hence, allowing proper allocation of the public
funds and resources. The local government officials should be able to
1,530 words
6 pages
The Conception and History of the Euro and Its Impact on the World Economy
Introduction: The Euro shines as a symbol of European integration after countless years of planning and strategy for unifying Europe. Largely successful, the Euro is an international competitor amongst the world monetary powers. However, not all member states have made the leap to joining the eurozone. One such example is...
3,893 words
15 pages