Dating back to 1880, the nickname âMarvelous Melbourneâ was given to our city, this was introduced when Melbourne was progressing into a major world city. This was a result of the Gold Rush. The Gold Rush caused Melbourne to become one of the richest cities in the world. During this time of the Gold Rush, Melbourne expanded rapidly, causing the...
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Bernard and Austin (2012) argue that traditional theorists believed that financial market in general has no correlation with economic growth, this proposition aroused studies on finding the effect of financial market on growth. Ample of studies have conducted on the traditionalists and established association between stock market and economic growth. In developing economy like Bangladesh and Nigeria, the development and...
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Job is an important factor, and without work life is impossible as it provides us with money which is essential for life. It not only fetches money for a better living, but also provides everyday learning. If you work a job you love, your life will be very different in everything. And although you spent a lot of time in...
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While banks would prefer an limitless potential for creating deposit to make bigger profits, there are many limitations. These limitations make the system of developing deposit non-profitable. The barriers of the deposit advent technique will be discussed in this essay. Amount of Cash Affects the advent of credit with the aid of business banks. Higher the money of business banks...
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Usually, when we make a transaction, the payment is processed by a credit card company or a bank. However, this could lead to risks such as protecting data from hackers, taking longer for international payments and expensive. Therefore, cryptocurrency helps to keep data secure and protected using mathematics as it only exists in computer networks. With digital currency like Bitcoin...
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The world, as we know it now, has witnessed a gigantic transformation from the discovery of chemicals and gases to the current situation when the same have become a threat to life on the planet. This transformation has resulted in, perhaps the greatest untackled issue of modern life that is, climate change. Climate change highly owes its existence to the...
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In 2008 the worldâs economy had its biggest crisis since the Great Depression in 1930. According to Britannica, this epidemic âbegan in 2007 when sky-high home prices in the United States finally turned decisively downward, spread quickly, first to the entire U.S. financial sector and then to financial markets overseasâ (para. 1). The individuals and firms associated with this were...
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In this paper, I will discuss the ideas of Adam Smith in his book âAn Inquiry into The Nature and Causes of the Wealth of Nationsâ, specifically, chapter 11 in the first book which is called âOff the Rent of the Landâ. The chapter is divided into four parts: off the produce of land which affords rent, the produce of...
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According to Kimberly Amadeo, â65 percent or around $580 billion U.S. bills in circulation are currently used outside the U.S. 75 percent consisting of $100 bills, 55 percent $50 bills, and 60 percent of $20 billsâ, which have Andrew Jacksonâs portrait on them. To foreign eyes abroad, President Jackson represents our country, our treasury, and our countries financial backbone or...
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Do you ever wonder when is the best time to retire from work? Can you envision yourself sitting in a rocking chair, having idle time and reflecting since the day you were born? Mandatory retirement for workers over the age of 65 is ideal in todayâs society. A law that enforces a mandatory retirement will help todayâs generation and many...
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Greece is a country in South Eastern Europe consisting of 2 mainland peninsulas and thousands of islands throughout the Aegean and Ionian Seas. It is 15th largest economy among the 27 Europe Union. Greece is a developed country with high standards of living and high human development index. Participation in the European Monetary Union was a landmark development for Greece....
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Italyâs presidents have been in conflict with Europe because of their problems ever since they achieved power in the year 2018. They say that various European countriesâ technocratic rules have caused economic trouble and they blame Europeâs rigidness for the countryâs downturn after the 2008 financial crisis. Since then, Italyâs growth has slowly moved along at just barely below 1...
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Many countries have their alternative ways of evaluating their workers. Basing on the countryâs laws and policies, some have set the age of sixty years whereas others set the age of sixty-five years because the retirement age for public servants. an honest example is that the Asian and European countries with the retirement ages as sixty and sixty-five years severally....
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The global economic crisis affects many countries worldwide. It's a period of severe difficulties which financial institutions, markets and consumers experience simultaneously. It started in 2007, the full impact of the crisis wasnât felt until the bankruptcy of the Lehman Brothers an investment bank in September 2008. Juneja mentioned that in the years to come they were many jobs lost...
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Most of the public discussion and literature about economic development and education generally, most especially employment and education, is based on two major economic processes. First, is the interaction between the politically responsive supplies and the demands that are economically motivated in determining the number of schools provided, who can access these places, and the kind of instruction given. Second,...
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Since the catastrophic global financial crisis, which was directly caused by the burst of the housing bubble and mortgage default, in 2008, the Federal Reserve alone has injected roughly 7.6 trillion dollars into the global economy by the end of 2019 in order to facilitate the recovering of the economy and mitigate recessions. An alternative asset which is called digital...
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Everyone knows that Greece is famous for its rich history, mythology, and architecture. But they cannot rely solely on tourism to keep their economy afloat. There were some key mistakes and mismanagements from their government threw them into a deep, deep hole. When Greece joined into Europe, they were doing well financially. In 1981, the party that rose to power...
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A financial crisis is a situation when businesses and consumers are unable to pay their debts, asset prices depreciate, and financial institutions go through a shortage of liquidity. There are several types of crises, including stock market crash, financial bubble or a currency crisis (Dabla-Norris et al., 2015). All these crises have similar causes, and the consequences are much more...
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A cashless society is a society in which purchases of goods or services are made by credit card or electronic funds transferal rather than with cash or checks. The economic concept of a cashless society appeared as early as the 17th century, but it was presented as a check at that time. Then it slowly evolved to credit card and...
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In the United States, citizens take their credit scores seriously since they can affect how they live their lives. They show the creditworthiness of people to lenders who then decide if these banks or credit card companies should provide people with loans if needed for purchases. In China, the government takes these scores more vigorously and instead of taking out...
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Cryptocurrencies are digital currencies that work under blockchain which secures and controls the transaction that occurs through the network. This was created to send online payment directly without the interface of the banks. This decentralized network was created by Satoshi Nakamoto so that anyone could use it but no one can own it. The first most popular type of cryptocurrency...
432
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Over the past generations, there has always been three classes of wealth: the upper class, middle class, and the lower class. And not to mention, high Income earners likely are substantially educated, have high-status occupations, and maintain powerful social networks. The upper class, however, only makes up to 3% of the population of the United States, with 2% earning millions...
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The issue of liquidity is going to be my main focus point when looking at the 2008 financial crisis and it will constantly crop up. Liquidity refers to the ease with which an asset, or security can be turned into cash without affecting its market price. In the period leading up to the Great Recession there was a massive increase...
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Before the havoc wreaked the markets in the United States and across the globe in 2007, the worldâs economy was booming and expanding, growth rates of output significantly increased. Surprisingly, this expansion started to stop when the housing prices which has seen an increase over the years began to fall. Some economists were of the view that the fall in...
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Happiness is something essential in our everyday lives. It is a part of the building blocks of living a good life. I find joy in wrestling, family, friends, my phone, and fun activities. I find happiness and joy in these because I am usually spending time with the ones I love and care about. Other people can find happiness in...
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Introduction 'Chi cheng!' the sound of money passed over my ears again. Do you love this kind of sound? Yes, there is someone purchasing something but there is none of my business again. Everyone said, money is not everything, but you can't do anything without money. Even though there are some people who feel that there is still something that...
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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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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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âThe game is rigged to work for those who already have money and power.â The celebrity world is driven by money, fame and power. The ones we look up to, our ârole modelsâ 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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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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