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Political Economy Essays

134 samples in this category

Central Banks Independence from Government

Empirical evidence indicates that greater central bank independence, freedom “from direct political or governmental influence” (Walsh, 2005: 21), is associated with lower inflation (Fischer, 1995). Although difficult to quantify, Fischer estimates that an increase in the inflation rate from 0 to 10% could cost 2-3% of GNP (Fischer, 1981: 23). This essay firstly examines the time-inconsistency literature, specifically the Barro-Gordon Model (BGM) and Rogoff’s ‘Conservative’ Central Banker. Section 3 then analyses ‘Political Business Cycles’. CB should be able to operate...
3 Pages 1463 Words

The Bank of England and Its Role in Ensuring the Financial Stability of the UK

The Bank of England is the prestigious and incredibly old central bank for the United Kingdom. The country founded this model central bank in 1694 to promote the good of the individuals in the U.K. through maintaining both monetary as well as financial stability. The bank is often affectionately referred to as the ‘Old Lady’ of Threadneedle Street. The bank of England carries out the first part of its mission of maintaining monetary stability quite literally. Not only does it...
1 Page 614 Words

Central Banks and Political Retaliation

The emergence of many central banks in the world has been linked to the desire of kings to seek additional funding in the face of increased spending on the state apparatus and wars against other countries. The ability of central banks to create cash independently of their precious metal reserves has provided new possibilities for financing expenses The state and its wars without the need for new taxes on its citizens or for debt from large traders and moneymen at...
2 Pages 812 Words

The Freedom of the European Central Bank

The solicitation from Germany’s protected court to suspend acquisition of German bonds by the Bundesbank will prompt a very long time of legitimate and political battle that will genuinely debilitate the exertion by Europe to battle the coronavirus emergency. It likewise opens up another time of analysis of acts by the European Central Bank that is probably going to change the manner in which the ECB works and will release unpleasant arguments about its autonomy from government officials. On Tuesday,...
6 Pages 2743 Words

Walter Bagehot's Theory: The Essential Guide to Central Banking

The great number of modern theories explaining the role of central bank in each country were established based on British journalist’s Walter Bagehot’s paper (1873), where he explains the workings of banking system of his time. In first chapter of the book writer points out the seriousness of the danger of possibly bank runs, when commercial banks has insufficient equity and can not predict or control sudden money withdrawals admitting that central bank can avoid liquidity problems if only it...
2 Pages 708 Words

Essay About Unemployment Problems

One of the core principles of the National Health Service (NHS) states that comprehensive services must be available to all irrespective of their sex, religion or financial status. Although this value is widely practiced across the UK, certain disadvantaged groups in the society are not receiving the optimum level of healthcare. In this essay, problems facing unemployed individuals in the UK is discussed. Studies have shown that the mortality rate in all age groups tended to be about two to...
1 Page 558 Words

Unemployment as a Social Problem in Pakistan

Social issues are a problem that influences many individuals within a society. Social issues are common problems that are being faced in Pakistan very often, because social issues influence many peoples to strive to solve many issues. Pakistan is a developing country which is facing a lot of social problems now a day, which includes the economics problems, unemployment, environmental problems, climate change, inequality, poverty and many more. But unemployment is one of the biggest social problems in Pakistan as...
2 Pages 998 Words

Essay on Unemployment in America Compared to the Rest of the World

The purpose of this report is to discuss about the unemployment rate in United States of America in comparisons with the rest of the world. Unemployment rate refers to the percentage of unemployed people in an economy among people that are currently belonging to labor force. This is computed as unemployed people divided by total labor force and multiple by 100 wherein unemployed people are those that are presently not working but they are seeking work actively. According to Robert...
3 Pages 1563 Words

Essay on Structural Unemployment and Its Solutions

The article is about the overall falling rate of unemployment in the United States which dropped to 3.9% or 6.3 million people. This means that 3.9% of Americans are actively looking for a job, but are unable to find work. Despite the United States’ unemployment rate falling to the lowest since 2000, the retail sector has not experienced much growth with only 1,800 out of the 164,000 jobs added. This creates socioeconomic costs: the loss of income which leads to...
2 Pages 740 Words

Essay on the Effects of Unemployment

Unemployment is the state of being unemployed or unemployed, or the proportion of people who are able to work, are actively looking for work, but are unable to find one. Unemployment is a huge problem in today’s world. One of the effects of unemployment among graduates is make a difficult life for unemployed. This effect is focusing on individuals. They were unable to earn money to meet financial obligations. People that had made loan from bank have to settle down...
1 Page 632 Words

Essay on Poverty and Unemployment on the Case of India

During the first decade of independence, it believed that the economic growth of the nation would automatically reduce poverty and unemployment. But it realized that along with the growth the policies and programed need effective state intervention. In order to achieve the planned objectives, it needs to cooperate with various projects, including public-private partnership. In the present scenario it is important to give prominence for the quality of policies rather than giving emphasis to numbers and financial allocation. According to...
2 Pages 1026 Words

Educated Unemployment: An Essay

Unemployment is a key financial marker since it flags the inability of employees to promptly acquire profitable work to add to the beneficial yield of the economy. The more unemployed people, the lesser economic production. Unemployed people also need to keep up in any event subsistence utilization during their time of unemployment. This implies the economy with high unemployment has lower yield without a corresponding decrease in the requirement for essential utilization. High, tenacious unemployment can bring trouble in an...
4 Pages 1708 Words

The Effects of Unemployment in Kenya

This paper tries to reviews the effects of unemployment in Kenya. How the effects are leading to home breakage, Kenyans are falling into depression. This has made the young people still in school downhearted and wonders if they will fall victim to unemployment. Unemployment cuts across the country in that, in every five people you meet on street one of them, is unemployed despite all the qualifications they possess. Kenyan has failed to reduce the level of unemployment since it...
6 Pages 2892 Words

An Essay on the Long-Term Effects of Unemployment on a Person

As we all know unemployment has many effects on the individual. Whether you want to apply for a job in your home country or even in another country, unemployment is becoming a big issue that many countries are facing. Whether it’s due to robots doing a more efficient and faster job than humans or maybe even a more precise job than humans, this issue is becoming a worldwide issue that must be solved. And that’s why in this essay we...
2 Pages 932 Words

How to Reduce Unemployment? Essay

Reducing the unemployment rate in a country is one of the responsibilities of the local authorities to ensure that the people and producers of the country have sufficient resources. As we all know, unemployment can be caused by two sides, namely demand-side failures and supply-side failures. Therefore, there are two strategies used to address the problem of unemployment namely the demand-side policies, which is to reduce unemployment caused by recession, and the supply-side policies, to reduce structural unemployment. Demand-Side Policies...
2 Pages 1136 Words

Link Between Inflation and Unemployment

Today, as thirty and forty years ago, economists debate how much unemployment is voluntary, how much involuntary, how much is a phenomenon of equilibrium, how much a symptom of disequilibrium; how much is compatible with competition, how much is to be blamed on monopolies, labor unions, and restrictive legislation, how much unemployment characterizes ‘full’ employment. A concept of full employment more congenial to economic theory is labor market equilibrium, a volume of employment which is simultaneously the amount employers want...
10 Pages 4527 Words

Poverty, Illiteracy and Unemployment, or Why Does Education Matter? Essay

Education is the hope for the development and success of most third world countries and the world dominates the country. Compulsory education creates a space for better growth and development. Education has the potential to completely change the course of a country: to train trained and educated young people. A country achieves its goal of economic growth at a higher rate and joins the list of alliances known as developed countries. A well-educated country will discard any obstacles that hinder...
1 Page 548 Words

Discursive Essay on Hispanic Unemployment

The phrase income inequality is commonly used in modern-day English around the world; however, do people really know the true meaning of this phrase? Income inequality is something that can harm many upcoming generations and can set standards for different ethnicities within America. Income inequality has many different properties that cause the problem it does. One of the leading factors as to why income inequality is a problem is the lack of education. With a lack of education can produce...
6 Pages 2720 Words

Analysis of Unemployment Rate and GDP Based on Human Development Index

Unemployment Rate: the unemployment rate is defined as the percentage of individuals that are not willing or are not able to participate in paid work for a variety of reasons. This is calculated using a method where the number of unemployed individuals is divided by the number of people in the labor force. This percentage is used to compare the levels of employment in different countries to calculate living standards. GDP: The GDP is known as the Gross Domestic Product...
4 Pages 1687 Words

Non-indigenous People Versus Indigenous People: Analytical Essay on Unemployment

Introduction Inequalities are experienced by everyone, which could be in material and immaterial forms. Social exclusion and economic disadvantage could be some forms of inequalities. In this essay, employment inequalities experienced by Australian indigenous people will be examined. In the past, Australia’s indigenous people are recognized as ‘human’ by the white settlers. They were not protected by human rights and had a low social status; social exclusion was experienced by indigenous people (Lydon 2017). This essay will build an argument...
3 Pages 1297 Words

Unemployment as a Social Problem: Essay

Employment (the number, quality, and security of jobs available) is an important social concept. The fact that income is directly correlated to employment creates the societal notion of class. As such, lack of employment is, consequently, also an important economic aspect that has a direct connotation with the make-up of the society. This literature review aims at effectively analyzing the extent to which unemployment negatively impacts society (unemployment as a social problem) through the eyes of 5 credible sources that...
3 Pages 1578 Words

Analysis of the Main Economic Indicators of Australia

This report will detail the current trends in three key economic indicators within Australia, and the impacts of these if they are too high, or too low. Economic indicators are a piece of economic data, that is used by analysts to interpret current or future investment possibilities. This report uses three economic indicators: inflation, unemployment and income/wealth distribution. It has been seen that there is: an above average unemployment, a highly unequal wealth distribution and a below normal inflation. The...
4 Pages 1794 Words

Is a Decrease in the Unemployment Rate Necessarily a Good Thing for the Nation: Argumentative Essay

Unemployment is a term that everyone is familiar with, whether they have experienced it or someone they know has been unemployed. Unemployment is not a pretty term, usually it is a term that is frowned down upon by many people. Unemployment can lead to families having to live day by day on a paycheck. Unemployment can be due to many reasons like a layoff, illness, or a car accident. In Ashland, Kentucky there is two hospitals, one of which is...
2 Pages 787 Words

Essay about Unemployment in the United States

Unemployment has been an issue and a concern in most counties across the world, including the US, but unemployment is at the lowest it has ever been in 50 years. The factors include demographics, level of education, the introduction of automation/technology, economic conditions, and demographic characteristics. In the United States, employments are frequently utilized as a proportion of the strength of the nation’s economy. The most broadly utilized percentage of unemployment depends on the unemployment rate. The unemployment rate alludes...
3 Pages 1489 Words

What Is Capitalism and What Are Its Main Features? Essay

Capitalism quickly became the adopted ideology of many societies as this idea enabled free trade and exchange commodity between nations. There are many features of the capitalist ideology which drives the economy and has given opportunity of equality in rights (to those with all class backgrounds not just the bourgeoisie) to obtain success from capitalizing off of a product or service. Some of which are: co-ordination, motivation and property rights. Firstly, co-ordination under capitalist economies has a market mechanism which...
2 Pages 749 Words

Why Capitalism Is Bad? Essay

Capitalism is an economic system that rose to popularity in the middle 19th century and competed with two other prime economic systems: socialism and communism. However, capitalism came into full power post-Cold War victory and America succumbed to the system. Capitalism is characterized by lack of government intervention, free markets, and goods and services distributed without government price controls. This system is known to provide political liberty however, it leads to inequalities of wealth and income (capitalist economic system). Under...
1 Page 543 Words

Comparative Analysis of Capitalism and Socialism

Both the political and economic worlds have always been dependent on each other, neither can survive without the other and the modern world is incapable of functioning without them both. Countries have been competing in finding the best economic and political combination that brings their countries into the power they need to lead the world for a prolonged period of time. Initially, Europe had always conquered the world utilizing the power of the church to limit freedoms for the people,...
3 Pages 1461 Words

Capitalism Vs Democracy: An Essay on Whether Capitalism Poses a Threat to Democratic Governance

The assertion here is that capitalism poses a threat to democratic governance, however, not only do I disagree with this statement, but I feel that democracy and capitalism go hand in hand. We just have to look to history to find the compatibility between the two, where we can see that democracies thrive with a capitalist economy, taking the example of contemporary Switzerland among others. Throughout the essay I will explain my view that capitalism leads not only to stability,...
4 Pages 1593 Words

Review of the Main Aspects of American Capitalism in a Comparative Analysis with Germany, Great Britain and Japan

Capitalism, the foundation of many countries, is today the most widely spread economic system in the world. It goes without mentioning that capitalism was and still is most concentrated in one country in the world, and that is the United States of America (USA). But how did this happen? How come the USA developed into such a big capitalist superpower? It maybe has a little bit to do with luck, but it has a lot to do with the decisions...
4 Pages 1854 Words

Capitalism as a Good or Bad System in the Context of Milton Friedman’s Ideology

The question of whether or not capitalism is a good or bad system requires that we first define our terms. We will use Milton Friedman’s basic definition of capitalism as an economic system, where private citizens engage in voluntary exchange and cooperation without compulsion from the state, and where the means of production are primarily owned and operated privately for a profit. Friedman attaches a condition to the nature of the exchange, “the essential notion is that both parties to...
3 Pages 1566 Words
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