There are different operations, strategies, beliefs, and principles that guide every economic structure. The principles and ideas that are dominating in such territories determine the type of system in operation. Capitalism vs. communism concepts are two contrasting economic systems that are applicable in different places. Indeed, the difference between communism and capitalism is that the former supports equality in society...
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“What is poverty?” by Jo Goodwin Parker may be a denotative interpretation of poverty. UN agency the poor area unit and the way the society’s stereotype is injustice. Parker with success describes the poor people’s issues and also the purpose of read that society has for those who sleep in poorness. Apparently, in Seventies the socio-economic condition people was awful...
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According to the Syrian Network for Human Rights 206,923 civilians have been killed during the span of Syria’s civil war. It is estimated by the SNHR that 57% of these deaths are due to aerial bombardment. Those that are lucky enough to live through the air raids experience many after-effects, the largest one being P.T.S.D. If they so happen to...
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One of the central goals of development economics has been to understand how to raise the quality of life of the people. As Adam Smith (1776) made an emphasis on his book, Wealth of Nations, “No society can be surely flourishing and happy, of which by far the greater part of the numbers are poor and miserable”. In developing countries...
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The global economic crash of financial markets in 2008 resulted in widespread international turmoil. Central Banks were forced into making decisions in relation to their policies and regulations; one being monetary policies. Monetary policies play a huge role in how financial markets fluctuate. The Taylor Rule is a model used to estimate what the interest rates of a countries economy...
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The goal of financial strategy is to accomplish the ideal extension of economy by encouraging the accessibility of cash supply required for the development. The job of defining financial strategy in India is performed by Reserve Bank of India. It is gone for guaranteeing the accessibility required cash supply for all the genuine financial exercises while it ought not to...
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“The architect of the cosmos is not a common man but He is supernatural, super-heroic and un-earthly” The above dialogue light-footedly tells us that the maker of the entire universe is The Fabricator and we all are mere janitors of it. But do we truly live up to this…? In today’s world of crime, animosity, hatred, destruction, etc., do we...
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Will the penny survive? During recent years there has been significant debate over whether to keep the penny as part of the US currency or to discontinue production of the penny. Every year the United States Mint produces around 12 billion new pennies, but 6 billion get lost, stored, or disposed of. Even so, a recent poll shows most Americans,...
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Energy stocks gained over the tentative deal on border security funding where the markets are trying to acquire more information about the new trade developments and how US-China can find a deal before March-end deadline. Brent was 2 percent up over OPEC production cuts where Saudi Arabia said it would produce by over half a million barrels in a day....
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Free Trade is a policy followed by North America and the other countries in the World Trade Organization. The policy allows for open trading routes between all member countries. The agreements often remove any sorts of taxes or tariffs in place and make it much easier to freely trade products. The problem with free trade comes from the amount of...
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In order to consider environmental sustainability, we must first define it. It can be described as “The rates of renewable resource harvest, pollution creation, and nonrenewable resource depletion that can be continued indefinitely.” My perspective is that it is something that all countries need to actively consider. It may be harder in underdeveloped countries, such as Kenya, for obvious reasons....
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Many people have suffered from financial and economic problems throughout the globe. The idea of a universal basic income (UBI) has sparked this trend. The magazine known throughout the world. The UBI is an actual cash payment for all people (2016), the economist states. Indeed, the idea behind the UBI is quite old. According to the report by James Surowiecki...
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In recent years, a debate on whether or not America should keep the penny has arisen. Numerous Americans are in favor of keeping it due to sentimental value, while others say it is just too costly. There are multiple upsides as well as downsides to America discontinuing minting the penny. Overall, continuing the use and manufacturing of pennies would be...
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The Paris Accord, which is a worldwide agreement among nations, is intended to counter the effects of climate change. Its primary purpose is to strengthen the international response to the dangers of this appalling effect by maintaining global temperature increments below 2 degrees Celsius (Falkner 1109). This move is aimed at enhancing the ability of countries to deal with effects...
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The small nation of about 53,000 people is located in the middle of the Pacific Ocean is quietly working on a project that could have a major impact on how cryptocurrency is treated by both investors and government actors. The Marshall Island is launching its own national cryptocurrency token named the Sovereign, or SOV, which will be legal tender for...
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There were many debates and publications over the lack of efficient quantitative macroeconomic modeling in a period from 1970 to 1990. Famous economists Jordi Gali and Mark Gehtler in their papers try to analyze the reasons relating to the failure of current macroeconomic models of monetary policy and progress the framework for new models. The main indicator of unsuccessful modeling...
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Introduction The past two centuries have been characterized by vast technological advances that have had a significant effect on man and his environment. One of these advances has been in the form of increased industrialization by man. Industrialization has resulted in detrimental practices such as deforestation, air and water pollution which have all threatened the fragile balance that exists between...
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In Malaysia, such a study has examined its implications through the impact of different types of economic sectors. Domac (1999), Tang (2003) and Ibrahim (2005) among others found that financial variables affect various sectors of the economy including agriculture, mining and quarrying, manufacturing, construction and even services. Kassim and Abdul Manap's (2008) study focused on the impact of monetary policy...
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Capitalism and socialism are somewhat opposing schools of thought in economics. The central arguments in the socialism/capitalism debate are about economic equality and the role of government: socialists believe economic inequality is bad for society and the government is responsible for reducing it via programs that benefit the poor. e.g. free public education, free or subsidized healthcare, social security for...
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The coronavirus pandemic has already resulted in some major changes to our lives, from the introduction of mask wearing and social distancing to a reassessment of office culture. And it’s also resulted in discussions around, and calls for, a universal basic income. In the UK, the government introduced a furlough scheme during the first pandemic; companies forced to close because...
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An economic problem or challenge occurs when a country fails to meet the needs or wants of its population with the scarce resources it has. It could be said that when an economy fails to meets its micro and macro-economic goals it creates an economic problem for them. Since 2007 the world has seen a setback economically and even the...
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Foreign Exchange is the process of conversion of one currency into another currency. For a country its currency becomes legal tender. For a foreign country it becomes the value as a commodity. Since the commodity has a value its relation with the other currency determines the exchange value of one currency with the other. For example, the US dollar in...
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Fair trade is trade in which fair prices are paid to producers in developing countries. It based on partnership between consumers and producers. Fair trade improves the lives of those living in developing countries by offering small scale producers fair trade relations and a guaranteed minimum price. There are over 1.5 million workers and 1210 fair trade certified producer organizations...
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On May 26, 2015, Bernie Sanders, one of the runner ups for presidential candidacy, holds his “kickoff” event in his hometown Burlington,Vermont. On that day, Sanders discusses the overall being of the American people and the economic problem that hovers over the nation today. The problem is the economic inequality among social classes in America, in which is making the...
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Estonia is a small but developed country, with a population of 1.3 million, located in Northern Europe. Its high-income economy is often referred to as the fastest growing in the EU. In addition to that, Estonian citizens obtain the free education and universal health care. On the international market, the country stands out for its I.T. advancements. In 2005, Estonia...
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How businesses are established abroad- When developing your business in a foreign market or region, you might consider establishing a more substantial operation. This can be for a variety of reasons such as lower costs, increasing market penetration, improving customer service and complying with government regulations. Most firms only set up an overseas operation after testing the market. This can...
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“The game is rigged to work for those who already have money and power.” The celebrity world is driven by money, fame and power. The ones we look up to, our “role models” aren't playing by the same rules, or even the same game. They are teaching us that money and power protect you from justice and consequences. It is...
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The robotics revolution has started! Since robotics have been manufactured, the efficiency and productivity in working conditions are growing rapidly. They formed a huge leap in our lives as they became part of many workplaces. Moreover, they can implement a wide variety of tasks successfully in a record time compared to human performance. Also, they are playing a pivotal role...
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Many people will do everything to get some money even the thing that can harm their lives. Some cannot live without money. It has been said that money makes the world go around. That's the main reason why people kill someone because they are greedy for money. Even we the students, we study hard so that we can get money...
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There are regular discussions about how money makes people happier, which is more of a philosophical question, and this discussion topic can be deciphered from several perspectives without yielding a winner in the end, because each contention from both sides will not be correct, but will be a well-considered opinion. The Notion Behind Happiness Is happiness a defining moment in...
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