How Could War Stimulate The Economy - 1235 Words

Question 1: How could war stimulate the economy? An increased spending by the military can engender some positive advantage via creation of employment as well as extra growth of the economy in addition contributing to the development of technology. This might give a multiplier effect which then gush on to other businesses. By looking into the state of the economy at each and every major conflict since world war II, it is prudent that the positive effect of a rise in military spending were overshadowed by longer term unintentional negative macroeconomic cost. As the stimulatory effect of military expenditure is evidently associated with boost in the growth of the economy, unpleasant effects turn up either immediately or later on, even if†¦show more content†¦Therefore, a rise in government spending helps the economy and a cut in spending will hurt the economy, or even push the economy to a state of recession. Certainly, conservative perception holds that every dollar the government adds to demand or minus from it, will be multiplied by ancillary changes in private spending. A rise in spending of the government might induce the private sector to contract a phenomenon called crowding out. Conversely, a cut in the government spending may release an economic resource the private sector could put to work more productively. Question 1. How government purchases, in your opinion, have helped to stimulate or hinder the U.S. economy Government purchases in the US have hindered the US economy. Government purchases represent a large amount of the GDP, and thereby leading to a decrease in investment and consumption. As a result government increases its taxes so as to be able to sustain itself, and this can lead inflation. Question 2. Do you think the government, using both fiscal policy and monetary policy, faces any trade-offs in trying to control for inflation vs. unemployment. Yes, casting a long shadow over fiscal and monetary policies is the supposed trade- off between jobs and prices. Between the policies that lowers the unemployment rate but pose a higher risk of inflation and those policies thatShow MoreRelatedAmerican National Interests: The Mission of Homeland Security1298 Words   |  5 Pageswill become more pronounced with the continued fluidity of populations across the world due to the continued globalization. Some of the major concerns that the USA will definitely have at the national and even international level are the successful war on terrorism, adequate Homeland security and the fast rising unemployment rate as an aftermath of the recession. Homeland security is entrusted with ensuring that the local population within the USA borders is all safe at all times and this includesRead More Economic Policy Essay1579 Words   |  7 Pagesmeasured in financial terms. The same is true in politics, where the success of a politician, especially the President, is measured by how well the economy did during his term in office. It is specifically measured by how well they bring down unemployment, grow the economy and fight inflation. Two basic modes of thought on the subject have pervaded public policy since World War II: supply-side and demand-side economics. Demand-side economics is generally known as Keynesianism, named after the English economistRead MoreSlavery During The Ancient Era1528 Words   |  7 Pagesthat helped benefit their way of life. Aside from the fact that humans were enslaving other humans whom were just as equal as themselves, slavery proved to be an efficient system in the ancient era because it helped develop social classes, stimulate the economy, and was a key source of labor around the farm and community. When slavery was first brought about, it was a major benefactor in helping to get the ball rolling when it came to determining different social classes. Slaves were sought out becauseRead MoreThe Great Recession Of 20081691 Words   |  7 PagesStefanos Lazaridis Professor Demiray Economics 200 October 18, 2015 Great Recession of 2008 The Great Recession in 2008 led to a huge crisis in the United States economy. This recession almost led to the entire collapse of the United States economy due to the constant unstable changes in legislation, regulation, along with the changes in fiscal and monetary policies. Furthermore, many economists believe that the increase of excess monetary and government irresponsibility led to the overall crisisRead MoreThe War Of A Forest Fire1380 Words   |  6 Pagestheir thoughts regarding war, the first words spoken generally include death, destruction and conflict. The connotation of these words displays the negativity placed upon the theory of war. One can compare war to a forest fire, although everything is destroyed and burned, through the ashes emerges new life. Contrary to popular belief war is immensely beneficial on numerous proportions. War is overlooked and judged as a despicable tragedy. It’s very easy to stereotype war as a devastating occurrenceRead MoreThe Mi nimum Wage Change 1151 Words   |  5 PagesIntroduction One of the most talked about subjects in the U.S economy is the topic of minimum wage. With president Obama’s increase in the minimum wage to 10.10$ per hour people, both economists and politicians alike, have been debating whether raising the bar is a smart idea. At a time when the country the country’s inflation continues to rise at a steady pace and Americans are constantly working to feed their families, some economists know that a raise in the minimum wage would help elevateRead MoreKeynesian Theory And Aggregate Demand1499 Words   |  6 PagesJohn Maynard Keynes advocate for the government to have an active role with influencing the level of economic activity. This is because Keynes believes that this will stimulate the economic activity and bring the country out of economic drought. Keynes’ theory leads to the government influencing the level of aggregate demand, and how it effects inflation and output. Although Keynes was known as the greatest eco nomist of this era, there was another economist by the name of Friedrich Hayek, whose beliefsRead MoreThe Keynesian Era During The Middle Of The Nineteenth Century1720 Words   |  7 Pagescompetition, and trade. These classical economists believed capitalism was the foundation for an efficient economy where little to no government intervention was recognized. Although they disagreed on some issues, economics is interesting in the sense that ideas are always changing based on the shifting markets and viewpoints of economists. Economics, which is described as the knowledge or rationalization of how a market works based on production, consumption, the transfer of wealth, or a person’s income fromRead MoreEconomic History Of Japan From The 1960 S Essay1619 Words   |  7 PagesExecutive Summary The purpose of this paper is to analyze the economic history and policies in Japan from the 1960’s on. After World War II, Japan needed a way to rebuild their economy. Hayato Ikeda’s Income Doubling-Plan was one of the driving forces behind the Japanese â€Å"Economic Miracle† (Fukui, 1972, pp. 327). The plan involved government stimulus in the form of purchases and investment. The increase in government spending and investment increased output. Furthermore, Japan began to focusRead MoreKeynesian and Monetarist Economic Theories1732 Words   |  7 Pagesmoney in their mattresses they refuse to spend money no matter how low prices drop, because they have a legitimate fear of loosing their jobs. Keynes concluded that classical economics rested on a fundamental error. It assumed, mistakenly, that the balance between supply and demand would ensure full employment. On the contrary, in Keyness view, the economy was chronically unstable and subject to fluctuations , and supply and demand could well balance out at an equilibrium that did not deliver full

Disaster response and recovery Free Essays

The terrorists attacks are most of the time unpredicted and a country even its utmost security may become vulnerable to terrorists attack. It’s as international problem which now and then is occurring in different parts of the world. The terrorist attacks such as 9/11 terrorists attack, Mumbai, India , Hotel Taj and Hotel Oberai terrorists attack, London terrorists bombing are few examples of this centuries terror attacks around the world. We will write a custom essay sample on Disaster response and recovery or any similar topic only for you Order Now Terrorism is considered to be asymmetric form of warfare and is unlawful. It targets only on destruction and harm innocent people who are important resource of the nation. If I was the disaster coordinator of the city, as soon as I get the clues of the terror attacks I would have just tightened the security near the border of the country and call for emergency. I would cancel all the flights entering and leaving the country. The next thing which I would have done is publishing the news in the media and the media would alert the people as they can take care of themselves. The media would alert people about the places of vulnerability and the suspected time of attacks. Incident command system will be notified to prepare well for the attacks. These are the immediate steps which I would have taken. Later I would have looked into the list of vulnerable areas which is populated more. Most of the terror attacks happen in the places where there is maximum human intervention so as to kill many people as possible and take revenge against the country. I would provide accessibility to shortcut routes so as to reduce the vehicle traffic congestion and avoid people pass through the vulnerable areas of attacks. They will be made to reach their destinations as soon as possible before the disaster occurs. The transport of goods will be stopped as it will be the path for the terrorists to move their goods from place to place. All social gathering of people will of people will be stopped. All the offices and the schools and colleges will be declared holiday. People in the top floors of the building are evacuated. All the people who found to be suspicious are checked for their identity, country they belong, ethnicity and their back ground. Security would be ensured near the coastal areas and security checking all the ships coming in and leaving and the checking all the goods that are transported. The oil refineries, electricity power stations and nuclear power plants are given security alerts. These when bombed or destroyed cause huge loss and may result the city as the one which had happened in Hiroshima and Nagasaki, Japan. The city’s important monuments are safeguarded with tight security. It was daytime when Hiroshima and Nagasaki was bombed. People were preparing for offices and work. All the electrical appliances were on. It was a busy day in Hiroshima and Nagasaki and finally bombings rendered many places infertile and many people got health problems as they got expose to the harmful radiations of the bombing. I would ask people stop using electricity and switch off their appliances. Important people are provided with security as the terrorist may use them as hostages. I would ask media to act effectively and update people with the information of attacks and about the places which are vulnerable. I will ask them to avoid giving false information to make their news more interesting. I would make telephony and internet facilities such and intranet and ad other web based tools available for free at the moment to keep people in touch with their loved ones who are out station by calling or messaging them. Internet is one of the most reliable ways of communication in the times of disaster to mail their loved one and finding people who are missing. People will be asked to follow the instructions given by the Emergency team and Incident command system. The Red Cross people are advised to assemble the emergency kits. I would alert all the hospitals and mental health care concerns to prepare for the disaster to help people who become victims of the attacks. Health care units are informed to provide the medical facilities such as first aid, medicine and other voluntary organizations are encouraged to provide support. Rehabilitation centers are created and so the people can seek shelter. The targets of the terrorists and the potential vulnerable areas influence and affect the city’s emergency plan. It makes emergency planning team think of most vulnerable areas first. They will set priority of the vulnerable places as primary and secondary. It will make their work easier and provide full security to the places of primary concern. The Incident command system may sometimes do not operate efficiently. I think it has review the ways it operates and add most efficient ways to their current system of operation. It should plan efficiently such that their plans are turned into actions and will not remain just words. It should have better communication between its organizational parts. Its commands should be strictly followed by its organizational parts. The plan should be made on time and it should not be executed after the incident but on time. It should communicate with the people effectively and just not make people get afraid by telling consequences of the attack. But they should make feel safe and avoid false promises. The medical and health care units should be dedicated in their work and provide selfless service. There should be no discrimination on the basis race, age, ethnicity, sex and all people should be treated equally. All they can do is to They target terrorism, curb it, defeat it and make their country a peaceful place to live in. How to cite Disaster response and recovery, Papers

Definitions of Economics by Adam Smith and Alfred Marshall free essay sample

When it comes to economics, there are various definitions as mentioned below: ; Science of wealth Science of material well being Science of choice making and Science of dynamic growth and development Science of wealth: Some earlier economists defined economics as detailed below: According to the classical economists, economics has been defined as the science of wealth. Adam Smith was known as the father modern economics and according to him the economics was defined as detailed below: An enquiry into the nature and causes of wealth of nations. According to] B Say, economics was defined as: Science which deals with wealth. According to the definitions as pronounced by Adam Smith and J B Say, the main focus of study for economics has been defined as accumulation of wealth or science of wealth. The following are the merits of the definition pertaining to science of wealth: 1. It focuses on important aspects of economics like production, distribution etc. We will write a custom essay sample on Definitions of Economics by Adam Smith and Alfred Marshall or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page , 2. It highlighted an important problem faced by each and every nation of the wealth, namely creation of wealth and 3. The problem of poverty and unemployment can e solved If wealth is produced and distributed equitably. The following are the demerits with regard to the definition pertaining to science of wealth: ; It concentrates only on material wealth and Ignores creation of Immaterial wealth Like services of doctors, chartered accountants etc. , ; It also ignores social welfare Science of material well-being: Under this group of definitions, the emphasis is on welfare as compared with wealth in the matter of group. Alfred Marshall, the neo-classicist raised economics from Its Ignoble position to a noble one and It was he who shifted the emphasis from wealth o welfare.Economics was defined as follows according to him: Economics is a study of mankind in the ordinary business of life and it examines that part of individual and social action which Is most closely connected with the attainment and with the use of the material requisites of well-being. Thus, It Is on the one side a study of wealth and on It can be seen that economics has been defined as a study of mankind in the ordinary business of li fe. Ordinary business of life means those activities which occupy considerable part of human effort.The fulfillment of economic needs is a very important business which every man ordinarily does. According to Professor Marshall, economics has been understood as the study of wealth; however, it is also the study of man, his desires and necessities. The following are the demerits in defining economics as the science of material well- being.