Essays on Economics

There is indeed a noticeable difference between capitalist development and democracy especially when viewed from the perspective of two different countries practicing either of the above. Ideally, capitalist development entails an economic system that revolves around private ownership and freedom in markets, capitalism can also be compared to a great...

As the world keeps on changing, that is; socially, economically and environmentally, concerns are being raised over the changes and in particular, on their sustainability. As a result of that, scholars have come up with the idea of sustainable development as a solution to the probable risk of which the...

Contrary to a contemporary mythology which claims that defense downsizing will raise unemployment, empirical evidence indicates that "compensated" decreases in defense spending should lower aggregate unemploy ment.  Traditional budgetary analysis has obscured the causes and conse quences of trade-offs by using unsuitable measurements and methods.  Relation ships between trade-offs, unemploy...

Populism is quickly gaining track with modern politics. At the very basic, populism can be described as the tendency to advocate for political policies that delineate the public against the established political entities. It creates the furor about "us the normal folks" against "them who subjugate and control us (Schuster...

This paper seeks to explore the democratic experience by delving on two main political and economic ideologies’ that emanated between 17th Century and 18th Century, the Keynesian welfare state era and the neoliberalism era. The essay will pay attention to the characteristics and the concept of each ideology and examine...

By and large, relative poverty refers to a situation whereby a group of persons lacks the minimum income that is required to sustain life in a society in which they belong (Brady and Bostic, 2015). For this reason, relative poverty is considered the most suitable measure of poverty in respective...

The United States despite being a first world country faces challenges with high unemployment and inability of citizens to earn income to sustain the well-being. For this reason, there is a need for a system of governance that solves the problem of social injustices in society. One measure is to...

The manufacturing industry in the US has been declining over the past few decades due to a number of factors which has seen investors put their resources elsewhere. The decline has been attributed to a number of factors which include the high corporate tax rates, the high cost of operation...

Narcissism refers to a well-defined trait that groups together a set of build-ups which contain an individual’s beliefs about oneself and others, intellectual mannerisms and the guiding principles that direct an individual’s actions. Therefore, it would be incorrect to think that narcissism only means increased belief in one’s self importance...

Part 1:             Orthodox liberalism as presented by Adam Smith was developed to present an argument against the theory of mercantilist as well as the theory of colonialism. The classical liberalism theory is an IPE theory; it provided a different approach on how the economy and the importance of the state...

The government should interfere if free markets are inefficient. In an optimally effectual market, resources are flawlessly assigned to people who need the quantities they require. Inefficiency, however, may take many different forms; for instance, some individuals may have too many resources when compared to others. In such a case,...

Free Trade and Trade Agreements Free trade is an idea of a free market where a country eliminates trade restrictions on imports and exports. It is characterized by free movement of labour, free entry to markets and access to market information and conduction of trade without taxes (Bustos, 2011). Usually, trade...