Economics Essay Example | Topics and Well Written Essays - 1500 words - 5

Economics - Essay Example The works by Prebisch (1947; 1949) and Singher (1950) attempted to explain economic growth based on the differences in products produced by different nations. The less developed nations according to these theories have to purchase the manufactured goods from the Northern nations at prices in excess of what of what they get for selling their primary goods (to the Northern nations). This ultimately adversely affects the economic growth of the less developed nations and thus they remain less developed (Todaro, 2003). These theories thus argue for promoting import-substituting policies for economic growth. Alternative theories by Harrod (1939) and advanced by Kregel (1980) capture the dynamics of economic growth by assuming that it is determined endogenously by the saving and investment decisions of firms. In this model, the growth rates put forward are actual, warranted and natural growth rates. Based on this approach, the long run growth rate is determined by the closed economy social saving rate rather than net exports. However, this model has been criticised for showing the possibility of unstable growth in a capitalist economy (Moudud, 2000). It has been shown that though there can be instability to some extent for the growth path, its extent is restricted by many endogenous factors in a capitalist economy (Moudud, 2000). 3. Conclusion In this essay, the discussion shows that low savings rate alone cannot explain the differences between developed and developing nations. By improving saving rates alone, developing nations cannot catch up with the West. Many other factors discussed above determine the differences between these nations. 1. Introduction The relationship between free trade and economic growth has been a topic of debate for the academicians and policy makers in the recent years. In this essay, the arguments for and against free trade are discussed. 2. Arguments for and Against Free Trade Greater availability of cheaper goods from abroad will lower t he domestic price level, since the consumption bundle used to compute broad inflation measures includes imported goods. The magnitude of this effect depends on the share of imports in the consumption bundle of the representative household.Also as the economy opens up the shocks to the price level due to the domestic farm sector; output fluctuations are likely to ease which may diminish the price fluctuations (Jin, 2000 etc). As per the Dutch disease hypothesis (Collier and Gunning, 1999) and the political economy models (Alesina and Perotti, 1994), trade openness can affect fiscal deficits through the instability of government revenue. First, countries with an outward-looking strategy have higher levels of competition, are less corrupt (Ades and Di Tella, 1999) and have higher fiscal balances and lower fiscal deficit. Second, trade openness increases income inequalities which enhances the demand of public goods (Alesina and Perotti, 1994) and, simultaneously, reduces the ability of governments to collect taxes. Third, trade policy could reduce government revenue in the short run (Bean, 1999), which could occur when increases in openness result from a reduction in tariffs. However, for a given level of tariffs, government revenue from taxes is an increasing function of trade openness. Thus, in the

The Tsarist regime between 1881-1904 Essay Example for Free

The Tsarist regime between 1881-1904 Essay Why did opposition to the Tsarist regime increase between 1881-1904? Page 1 Opposition to Tsarist Government had long been a feature of the Romanov rule with strict laws in place to oversee that nobody spoke out against the Tsar’s rule. During the autocratic years from 1881-1904 Russia went through two Tsars, Alexander III and his successor Nicholas II both obsessed with keeping absolute power over Russia. During that period it was an offence to speak out against the Tsar whilst nobody could challenge the Tsar’s rule as there was no parliament in place to speak for the people and no free press which meant that no one could release information that might influence the people to revolt for a better quality of life. This led to a hard struggle for the Russian people who endured numerous years of hardship under the Tsar; however it also resulted in the formation of politically organised parties in Russia that would each have separate ambitions for what they wanted for the future of Russia and her people. The causes of Tsarist opposition could be argued to have been started by Alexander II who ironically was trying to stop opposition to the Tsarist regime by relaxing controls over the press and universities which inadvertently saw the emergence of the intelligentsia. After Alexander II assassination in 1881 the first signs of opposition to Tsar Alexander III where the educated and free-thinking middle class, who were able to travel to western nations and read new ideas that, had never before been herd of in particularly the idea of Karl Marx’s, Marxism where it was thought that the people would overthrow the government and become a Democracy, and without a state Russia would become communist. The 1890s saw the great spurt of modernisation and industrialisation in Russia. Modernisation was driven by one man, Sergei Witte, the minister of finance from 1893 to 1903. An increase in the production of coal in the Ukraine and oil in the Caucasus promoted massive economic growth. Iron, chemical, engineering, petroleum and steel industries were established within ten years. Although this benefited the Russian economy the growth in industrial workforce concentrated in urban areas. This along with the combined high taxes and low incomes caused terrible living and working conditions in the cities. Witte’s economic policy created long term discontent within the Russian people as the high taxes and low wages led to high poverty throughout Russia whilst the increase in peasantry created more pressure on the agricultural land which led to an economic slump after 1902 which resulted in an increase in unemployment. Civil unrest further increased in 1900-1902 with poor harvests leading to starvation and an outbreak of violence in the countryside. This civil unrest led to the formation of various political parties throughout Russia which became the main sources of opposition to the Tsar’s rule. Parties such as the Liberals, and Social Democrats followed the relatively new idea of Marxism. However the Democrats wanted a revolution whereas the Liberals thought they could achieve their aims through a series of non-violent protests. The Democrats would later split into the Bolsheviks who thought the party should be ruled under one central leadership and that the way forward would be revolution whereas the Mensheviks beliefs were more democratic as they believed in allowing each member a say. The Liberals would also later split into the Kadets who wanted a parliament and better re-distribution of land for the peasants but had no problems with a constitutional monarchy whereas the Octoberists who also wanted a parliament were more focused on increasing Russia’s economic strength. Page 2 A third party the Social Revolutionaries grew directly out of the Populists and continued their predecessor’s approach of terrorism to reach their aims as a group founded in 1879 â€Å"the peoples will† were responsible for the assassination of Tsar Alexander II whilst also continuing their extremist views into the early 1900’s between 1901 and 1905, were it was the terrorist faction of the Revolutionaries that dominated with over 2000 assassinations, including Plehve, the interior minister, and the Tsar’s uncle, Duke Sergei. Eventually this unrest along with several assassination attempts from the Revolutionaries resulted in Alexander III abdicating in 1894 leaving his young and shy son Nicholas II as supreme ruler of Russia. Nicholas was never interested in politics however he was a great admirer of his father Alexander III. He had been brought up to believe that repression was the only way to keep the Russian people under control and that any kind of reform would simply encourage them to want even more. Nicholas wanted to rule like an autocrat but he did not have the skill to do so as he was an untrusting individual always being afraid of conspiracy which led to him refusing chair meetings, only seeing his ministers one at a time, trying to use divide and rule tactics which ultimately led to the government not making any decisions for Russia. Nicholas II further created unrest as he was unwilling to give any concessions to national minorities such as Finns and Poles with any protests repressed and his secret police the Okhrana crushing political activists, rounding them up and exiling them. The culmination of the revolution reached its climax with the outbreak of the Russo-Japanese War in February 1904. Defeats on land and sea at the hands of the Japanese military shocked the Russian public creating mass humiliation. The war was beyond any doubt a Japanese victory when Russia lost Port Arthur in January 1905. With the Russian peoples pride in tatters after defeat from what they believed was an inferior Eastern nation along with the war creating shortages in food, fuel and higher prices leading to further unemployment it seemed the last straw for the Russian people creating a huge upsurge of discontent. On the 22nd January 1905 Father Gapon and orthodox priest decided to lead a peaceful march of workers and families on the Winter palace in St. Petersburg where they wanted the Tsar to acknowledge the needs of the Russian people such as living conditions, poverty and starvation in Russia. However this peaceful protest soon caused mass panic for the police and authorities who did not know what to do, with no decisive leader they felt the only option was to fire at the protesters in the hope they would disperse. Hundreds of people died on the day that is now known as Bloody Sunday. This led to a national outbreak of disorder with strikes and riots in major cities whilst even minor mutiny in the Army and Navy who were ashamed of the defeat in the war, the Tsar was at war with his own people the revolution had begun. There were many factors of why opposition increased between 1881 and 1904 however the main reason was the introduction of western ideas to what had previously been a nation in isolationism with the prevention of free press. The ideas (Marxism) that had seeped in to Russia made the public question why they couldn’t have a say in how their country was run which led to the development and rise in organised political parties which became the main opposition to the Tsarist regime as both Tsar’s struggled to cope with what the people wanted. Ultimately the sheer size of Russia and its massive population made it impossible to govern and whilst Russia struggled to get out of its backward status the public’s welfare was compromised as both Tsars main priority was to increase Russia economically. This led to an inevitable uprising.

The Green Mile Essay -- Essays Papers

The Green Mile For my third quarter book report I read The Green Mile written by Stephen King. This book is about an old man, Paul Edgecomb, recalling his experiences when he worked as the cell block captain in Cold Mountain state penitentiary. Paul was the cell block captain of death row in this Alabama correctional institute. This story takes place in a nursing home. The narrator Paul is writing a book about when he was cell block captain in 1932. During the time he is writing his book he points out how people never change, how there is always the bully, and so on. He compares writing the book to a time machine. Both seem to take him back to 1932, and every lasdetail is clear. This book made me feel involved. As the reader you start off in the nursing home, with Paul, and ...

Modernity and the Notions of Public Interest Essay

This paper examines the meaning of modernity and the relations between the notions of public interest, ethics and law. By giving an example that raises this issue further, the realm of morality, professional ethics and law is discussed and whether their spheres of jurisdiction would overlap. It also explores the meanings and definitions of the key terms that are of most concern for this topic, and how they relate or differ from each other. A Singaporean example is also shown as evidence to support the discussion. Finally, a counter argument is provided with a reasonable response that follows with this argument. While scholars and philosophers have defined modernity in different ways, the emergence of modernity is also a very important aspect of the term. Before modernity came into prominence, there were the Renaissance and the Enlightenment. â€Å"The essence of modernity can be seen in humanity’s freeing itself from the bonds of the Middle Ages in that it frees itself to itself† (Heidegger, Young, & Haynes, 2002). Modernity refers to human beings starting to rationalize and think for themselves, rather than the traditional way of living life by the rules and teachings of their religion. In simpler terms, it is a shift from religious beliefs to scientific knowledge, as in man thinking by his own free will for himself. The stronghold of the Christian church decreased over the people and science began to be more accepted. The criticism of modernity is that it actually imprisons rather than liberates. Modernity gives rise to people’s opinion and free speech. Therefore, with free speech, restrictions are put into place to protect the freedom of the public. The term modernization refers to the increasing use of science and new technologies, and the political, social and cultural changes that followed through from these developments of modernization (Mann, 2010). Hence modern society is considered modern because of rapid change which is the essence of modern society (Nester, 2010). Today’s society and way of thinking all flourished from modernity. The use of science and technology, the need to understand all things in life through scientific study and experimentation are all traits of what makes modern society ‘modern. Therefore, it promotes a more rational, scientific worldview as religion, superstition and tradition lost their hold over everyday life. With modern thinking, public interest, ethics, law and so on, all of which were taking priority among people in their everyday life and also professionals so that everyone can live in harmony in a liberal democratic society. Public interest is what is justified toward the public which may be against some immediate individual person’s interest† (Downs, 1962). A general explanation for ethics would be that it is concerned with doing the right thing in a moral sense. Fieser (2001) described ethics as systematizing, defending and recommending concepts of right and wrong behaviour, while Spence (2005) said that it is a set of rules and virtues of character that guides interpersonal conduct (Breit, 2007). The Law is a set of rules for society, to protect people’s basic rights and freedoms and to treat them fairly (OrganizationOfAmericanStates, 2007). Certain situations that are of the public’s concern can also be an ethical and legal matter, such as illegal abortions. Abortions are illegal in most countries and even so, some women still require it for the sake of their own well-being. Thus, doctors have to face their own code of ethics in dealing with these issues. This matter is also of public interest because this issue has been an ongoing debate and the public are always concerned about it. In the Singapore context, the case of the ex-MOE scholar, Jonathan Wong having sexual relations with a minor makes a good example that raises this topic. The scholar from the Ministry of Education was at first charged with possessing child pornography in Britain which lead to investigations. The investigations then lead to reveal that he had sexual relations with an underage girl (Channel News Asia, 2012). Although the first charge in 2010 was not a public interest matter, the second charge this year provoked public interest. Aside from the illegality of the case, it sparked public interest due to him being a scholar with the public’s taxpayer money. The MOE’s code of ethics was considered for appointing this student for a scholar. So how do morality, professional ethics and law differ from each other? Morality is an individual’s own personal belief that differentiates right from wrong. It is an individual’s own personal character. Professional ethics is a standard or code of behaviour expected by a group to which the individual belongs to. Morality is a personal trait while ethics is more concerned in the field of profession. Law, however, is another different matter from both morality and professional ethics. But in some cases, their fields of jurisdiction do overlap with one another. In the course reader, Breit (2007) pointed out the ethical dilemma of a journalist on whether to report a story which is in the public interest. The ethical dilemma the journalist faced was due to the embargo of the news, whether to respect it or let the public know about the news immediately. There was also fear of getting sued for not respecting the embargo and for not fulfilling the duty as a journalist. These were the dilemmas that this journalist faced in which the different jurisdictions overlap with one another. Coming back to the example of the case of the ex-MOE scholar, it is illegal to have sex with a minor. This also led to public interest because he was a scholarship student of MOE by taxpayers’ money. Ethical issues were raised on the MOE’s side of the case for choosing this kind of person as their scholar and this reflects badly for the ministry. As for the opposing argument, â€Å"What reasons might be given for thinking that the disclosure of a person’s sexual misconduct serves the public interest? (Archard, 1998)† From the liberalism side of the argument, it states that neither society, government nor anyone else has the rightful authority to tell people what they do in the privacy of their own homes. Each person has rightful authority over how they conduct their own lives in private. Therefore the public does not need to know about all of the intimate details about the case. Although the counter argument is reasonable, the public should have the right to know about this issue because this person was accused for misusing the taxpayers’ money and dealt with actions of misconduct and broke the law in not one but two countries. The first charge was for possessing child pornography while he was studying in Britain and the second was for having sexual relations with a minor in Singapore. Modern thinking has lead to opinions on morality, ethics and law, as well as issues about public interest. Open critical discussions and evaluation of issues that arise from such issues given above is a crucial part of a healthy democracy. In a way, the standards of public interest, ethics and law in each country determines the modernity of the society.

Internet and television Essay

Internet and television are changing the face of political discourse. In his book, Amusing Ourselves To Death Neil Postman gives candid details of how television has shaped political conversation in the last 20 years but this has been overcome by the advent of internet technology. Television has changed much since 1987 in addition to advancements such as HDTV, DVR. News can be watched 24 hours across many networks. For example cable subscribers are able to watch over 1000 channels with the click of a button. Advertising has grown tremendously as ads jam programs in the form of product endorsements and normal commercials. The internet is not excluded from this change because it offers the users a simple way of accessing news and communication with many people all over the world. Each of these mediums represents a new era in which people try to become politically enlightened while at the same time minimizing the quantity of information they are able to consume (Postman, 13) Political discourse and the media have been changing over the years. Hume observes that, â€Å"the television commercial is a primary instrument of political discourse† (Hume, 27). This is true in the current media although some other instruments like The Daily Show are gaining political importance. Political programs should be placed on the same platform as political commercials instead of using them as the main source of political discourse. Although the commercials have a good impact this is reduced by the video recorders that give user the ability to navigate commercials to view programs that they like most. Internet has become a threat to the television since it is easy to get information easier using the internet. â€Å"Young people don’t buy newspapers or watch the evening news-even or perhaps especially, with cute Katie Couric reading it to them. Blogs are more fun to read and sometimes more reliable† (Leonard, 10). Bloggers have the ability to put emphasis on political candidates, policies and actions that have taken place. As such blogging offers the citizens a chance to comment on stories in a manner that permits freedom of expression. The media has continued to change political discourse significantly though television, internet and advertising. Currently advertisements, blogs and the 24 hour news and internet have a big impact on political discourse. According to a survey done by Pew Internet it was observed that â€Å"15% of all American adults say the internet was the primary source for campaign news during the election, up from 7% in the mid-term election of 2002? (Leonard, 2). Therefore, the Internet is a strong force in the changing shape of political discourse. The information that people find and share over the internet shapes their opinions and can assist them in becoming better citizens. Political information can be shared in a way that ties the emotions of the participants but the internet helps the people to form their own opinions. Hume posits, â€Å"new technology may facilitate a new type of citizenship commitment that combines exchange of information and evaluation, in which emotion and experience are not discounted but an accepted part of the processes of opinion formation† (2006, p. 305). In summary, political dialogue in the media has been transformed significantly by the new media. The availability of internet has helped people write blogs, surf for information that could not be easily found through conventional means. Television commercial as well as comedy programs are still abundant in the political discourse. Ellen Hume give a good summary of political discourse and its relationship with the media by saying, â€Å"The old media deliver the old politics† (1998, p. 207). From this observation one can conclude that the new media will give rise to new politics and continue to change everything as we know it now. Works cited Hume How novel technologies are changing the news. In C. Harper (Ed. ), What’s Next in mass communication. Original York: St. Martin’s Press. 1998 Leonard, M. ‘Fake’ news is as good as the real thing . Herald Times, p. B2. , E. 2007. Postman, N. Amusing ourselves to death. New York: Penguin books. 1985

Biography on George Mason essays

Biography on George Mason essays "I ask you sir, who are the militia? They consist now of the whole people." Many delegates helped write the Constitution after the Articles of Confederation failed. When these men got together in 1787, with some of the nations most important men abroad and some unable to attend, they were looking only to help this nation have a promising future. Political men, like George Mason, took charge of the convention and gave their ideas to the rest of the delegates. George Mason did many good things for this country. In the following, I will take a look at the things Mason did for this country. George Mason was born to George and Ann Thomson Mason in 1725. At the age ten Masons father died. He was then sent to live with his uncle, John Mercer. Mason had no real education. He learned all he knew through his uncles 1500 volume library that consisted of a third of them being law books. He married Anne Eilbeck in 1750, and in 23 years of marriage they had five sons and four daughters. As one of the richest people in Virginia, George Mason was a very important figure in his community. In 1773 Mason wrote his first major paper that really started his political career. Mason also perused other political interests between the years of 1750 and 1779. One of these political interests was being justice of the Fairfax County court Virginia House of Burgesses. In 1776 Mason wrote the Virginias Declaration of Rights. This document served as the basis for many other colonies declarations. This piece of writing was also used as a guide line for the first part of the Declaration of Independence and the Bill of Rights to the United States Constitution. Mason worked on many different legislative works from 1776 to 1780. In the early 1780s, Mason retired from political affairs because of his disgust of public affairs. Mason was appointed to the Annapolis convention in 1786, but he declined. Howev ...

Learn About Rational Choice Theory

Learn About Rational Choice Theory Economics plays a huge role in human behavior. That is, people are often motivated by money and the possibility of making a profit, calculating the likely costs and benefits of any action before deciding what to do. This way of thinking is called rational choice theory. Rational choice theory was pioneered by sociologist George Homans, who in 1961 laid the basic framework for exchange theory, which he grounded in hypotheses  drawn from behavioral psychology. During the 1960s and 1970s, other theorists (Blau, Coleman, and Cook) extended and enlarged his framework and helped to develop a more formal model of rational choice. Over the years, rational choice theorists have become increasingly mathematical. Even ​Marxists  have come to see rational choice theory as the basis of a Marxist theory of class and exploitation.​​​ Human Actions Are Calculated and Individualistic Economic theories look at the ways in which the production, distribution, and consumptions of goods and services are organized through money. Rational choice theorists have argued that the same general principles can be used to understand human interactions where time, information, approval, and prestige are the resources being exchanged. According to this theory, individuals are motivated by their personal wants and goals and are driven by personal desires. Since it is not possible for individuals to attain all of the various things that they want, they must make choices related to both their goals and the means for attaining those goals. Individuals must anticipate the outcomes of alternative courses of action and calculate which action will be best for them. In the end, rational individuals choose the course of action that is likely to give them the greatest satisfaction. One key element in rational choice theory is the belief that all action is fundamentally â€Å"rational† in character. This distinguishes it from other forms of theory because it denies the existence of any kinds of action other than the purely rational and calculative. It argues that all social action can be seen as rationally motivated, however much it may appear to be irrational. Also central to all forms of rational choice theory is the assumption that complex social phenomena can be explained in terms of the individual actions that lead to that phenomena. This is called methodological individualism, which holds that the elementary unit of social life is individual human action. Thus, if we want to explain social change and social institutions, we simply need to show how they arise as the result of individual action and interactions. Critiques of Rational Choice Theory Critics have argued that there are several problems with rational choice theory. The first problem with the theory has to do with explaining collective action. That is if individuals simply base their actions on calculations of personal profit, why would they ever choose to do something that will benefit others more than themselves? Rational choice theory does address behaviors that are selfless, altruistic, or philanthropic. Related to the first problem just discussed, the second problem with rational choice theory, according to its critics, has to do with social norms. This theory does not explain why some people seem to accept and follow social norms of behavior that lead them to act in selfless ways or to feel a sense of obligation that overrides their self-interest. The third argument against rational choice theory is that it is too individualistic. According to critics of individualistic theories, they fail to explain and take proper account of the existence of larger social structures. That is, there must be social structures that cannot be reduced to the actions of individuals and therefore have to be explained in different terms.