History Of Economic Thought

History of Economic Thought
History of economic thought
Theorists who have shaped the development of economy and economic thought through the centuries have invariably been affected by their countries
and situations. That this is so can be traced by eh thoughts of some of the most prominent economic theoreticians that include Smith, Ricardo, Malthus,
Marx, and Keynes. Each of these in turn has produced their own ideas about reproduction of labor force in classical political economy. Labor has
traditionally been related to growth outcome of product and trade, rise (and as some see it negative influence or increasing rationalization) of
capitalism, and complexity of industrialization. Adam Smith is widely considered the founder of economics and the father of capitalism. What is less
well known is the fact that he was influenced by French philosophers and writers who shared his dislike of mercantilism. Influenced by these writers,
Smith developed the theory of an invisible hand that became the bedrock of Western Capitalism. Often misquoted, Smith is both praised and
discredited as the father of one of the most influential movements in history. Smith was the first oen who was prescriptive rather than descriptive and
hence the popularity of his system.
According to Smith, in his Wealth of Nations, competition is the foundational source of national wealth and governments should refrain and abstain
from interfering in free trade. On the contrary, tariffs, taxes, and other regulations should serve purely
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The Influence Of The Great Man's Impact On History
'We have a department of agriculture to look after the interests of farmers... and we have the foreign office to look after the interest of foreigners.'
Mrs Thatcher. Upon first hearing this quote in a Cockerell documentary, its forceful and decisive tone struck me. Here was a political leader
expressing a conclusive opinion. It dawned on me that if those in the highest echelons of power could hold such absolute views; their impact on
history must be momentous. However, well done is better than well said and so I decided to go to the Churchill College and National Archives to
investigate further. The experience excited my inner archivist as I was able to practise the practical side of my subject, like I did when shadowing a
history PHD... Show more content on Helpwriting.net ...
Yet the primary focus of this essay was on provenance– and thus the more I wrote the more I realised that a credible argument does exist for these
men acting as a product of their origin rather than being inherently 'great'. My experiences as a leading school debater have shown that every theory
can indeed be questioned and I discovered Carlyle's prominent critics through further independent research – most notably Herbert Spencer. I have
remained unconvinced by Spencer's school of thought, yet was encouraged to investigate further, exploring Rude's The Crowd in the French
Revolution, Parker and Smith's The General Crisis of the 17th Century and James's lecture on Great men, thoughts and the Environment. Popular
opinion defers to Lafayette and Robespierre yet Rude challenged this, implying that the revolution was an economic and popular ground up struggle.
A memorable passage describes a crowd gathered in Champ de Mars with 6,000 signing the abdication petition by studding the sheet, due to their
illiteracy. The General Crisis was equally eye opening as it discussed the role of deteriorating weather and its economic implications as a possible
explanation for 17th century upheavals– a notion which demonstrated histories ubiquitous nature. As my research continued, I decided it was not
enough to simply recognise the importance of individuals, and felt

Critique Of Hegel 's Pure Thoughts
freedom. Offering an opposing analysis to Hegel's pure thoughts, Marx a materialist, saw ideas and perceptions as the result of material social,
economical and historical conditions. Marx analyzed the basis of all history to understand civil society. Property was at the basis of Marx's argument
and how the state developed. In critiquing Hegel, Marx thought reality created the mind. People's ideas and ideologies were conditioned by the
historical formation of powers or production and relations to production (Notes, PE 100: 3/17/15). This is the formation of his distinction between the
relationship of the economy and politics. He believed the economy consisted of the forces of production; relations of production, and division of labor
are the dominating forces in the state. He thought the material base, which is the economy, determined the "superstructure", which included culture,
ideology, and religion. He placed an importance on the relationship between the base (modes of production) and superstructure because the ruling
class controls society's material power as well as "its ruling intellectual power" (Marx, 163). The role of consciousness played a different angle in
Marx's view as he stated, "it is not consciousness that determines life, but life that determines consciousness" (Marx, 36–37). The formation of
consciousness is strongly determined by the class structure of society. In further, the ruling class in society dominates consciousness, who are the
bourgeoisie.

The Age Of Enlightenment
The Age of Enlightenment caused a drastic change in the philosophy and practice of economics. Before the enlightenment, the study of economics was
essentially non–existent, even though its existence and effects were always felt. It managed to evolve from the middle ages to the enlightenment
significantly. Once understood, it revolutionized business and the prosperity of the world. To begin an overview of the history of economic systems
we will begin in the middle ages. The era of feudalism used an economic system called Manorialism. It was used to great lengths for about 1000 years
after the fall of Rome. It consisted of a small, yet self–sufficient, communities in rural areas. The focus of this economy was on survival of the
medieval world.... Show more content on Helpwriting.net ...
It wasn't evil for a person to want to make a profit and be motivated by that. Before it was mostly seen as selfish, but Smith advocated that someone
wanting and working to improve their own standing was good. ("Adam") This would be soon called a profit motive. It moved people to provide better
quality products and services and more of it, because then he could make more money. He did not teach that stealing or cheating to achieve that was
acceptable at all. The Wealth of Nations also warned against the existence of monopoly, especially government supported monopolies. Views of
mercantilism taught that government granted monopolies were not bad and a positive things to have. It appeared to be making the select individuals
given these privileges the ability to produce more. It did to a point. Adam Smith felt that all government endorsed businesses were in fact harmful to the
nation's economy. He taught that because they have no competition and thus produce low quality product and always charge the highest

The Cause Of The French Revolution
The Cause of the French Revolution
Throughout history, what remains true is that the people are the ones who start a revolution. And when around 98% of a population is suffering to
make a living, there is little hope for those in power. Taxes levied only on the common folk, crippling wars that left France with huge debts, and the
careless spending of the upper classes ultimately lead to the start of the revolution. The main political cause was that the King had too much power but
weak foreign policy leads to economic downturn. The main social cause was that French society was too imbalanced but it was truly economic
exploitation of the lower class. The French Revolution had many probable causes, all linked together, but none as important and defining as the
economic aspect.
There were social and political causes to the French Revolution but both derived from economic cause. The imbalance of social classes was in part
the root of the lower classes hatred towards the upper class. But it was because the lower class had no mobility in French Society that people
started looking for change. Moving up in rank or position was nearly impossible and those with power, always had the power. This proved to be
troublesome as one 's hard work would not reap any benefits and would still have to pay heavy taxes to provide lavish lives for those in the upper
class. As Dr. Gail Bossenga states in his book, Origins of the French Revolution, "perhaps the search for the social origins of the

Karl Marx 's Theories Of History And The Theory Of Human...
Karl Marx was a nineteenth century philosopher, born in Trier, Prussia (Germany) in 1818 to a middle class family and later died in 1883. Karl
Marx's philosophies on society, politics and economics is collectively understood as Marxism. He was a materialist and an atheist who had a profound
impact on the world of intellectual thought. This paper will aim to discuss and determine with reference to Marx's deterministic theory of history and
the theory of human nature, if human beings are essentially the product of socioeconomic forces. In addition to one criticism of his theory of human
nature.
Firstly, this paper will explain Karl Marx's deterministic theory of history and the theory of human nature. According to Karl Marx's deterministic
theory of history, human society is determined by the material conditions. Marx was heavily influenced by the writings of the idealist philosopher
Hegel, but in contrast, Marx was generally a materialist; in that everything could be explained in relation to matter and all phenomena is a result of
material interactions. Marx used Hegel's contradiction in dialectic to define the class struggle; "oppositions that are necessary for and yet destructive
of each other" (Shimp, 2009, p. 37). At the core of Marx's theory of history is that materialism and the belief that communism was inevitable.
According to Marx social change occurred – not through ideas or an omnipotent God, but through the economic condition of life; they both believed
that the

Karl Marx And The Emergence Of Modern Capitalism
Capitalism, in the past few centuries, has rose to become the dominant form of economy around the world. After the displacement of feudalism, modern
capitalism arose and continues to engulf more and more of the economic sector today. How did this emergence and rise of modern capitalism occur?
Two of the most influential sociologist, Karl Marx and Max Weber have both developed theories on the emergence and rise ofcapitalism. Additionally,
they both included many criticisms of capitalism in their theories and literature. While the theories on the emergence of modern capitalism and
criticisms of capitalism by Marx and Weber have many similarities, they also have many contrasting factors. Even though these theories have the
differences it may also be possible to use both theories in conjunction to describe the emergence of capitalism more completely. Karl Marx was
considered to be a materialist and therefore, he used his idea of historical materialism to explain his theory on the emergence of modern capitalism.
Marx saw history as a function of material conditions and thought it was not ideas that change history, but the relations of materials shared between
people. Focusing primarily on economic conditions, Marx focuses his theory on the changing property and means of production, as well as the relations
of production. According to Marx's theory when the means of production no longer match with the relations of production, class conflict arises
resulting in revolution and

Western Society The Five Year Plans Analysis
To consolidate his power in the communist government, Stalin launched the five–year plans with a mission to increase the total industrial output by
250 percent and agricultural production by 150 percent. His government thought that economic development will help U.S.S.R to catch up with the
West. As part of this economic program, he ordered the collectivization of agriculture. His order led to an economic disaster and shortage of basic
necessities as "large numbers of peasants opposed to the change slaughtered their animals and burned the crops rather than turn them over to the state."
This resulted in a severe decrease in agricultural output throughout the years. (A History of Western Society: The Five–Year Plans, p. 903) To
strengthen his position and solidify his control in the Communist Party,... Show more content on Helpwriting.net ...
(A History of Western Society; State and Society inNazi Germany, p. 912) The European Jews were segregated into Ghettos where they lived in a cruel
and inhuman condition. In the document, the author explained about the "strong odors of sweat, urine and human waste, of mold and mildew,
distinguished the quarter from the rest of the city. (Mein Bekenntnis: The Ghettoization of the Jews, p. 1) He also talked about the bakeries and the
food markets that were under city hall control. Not only that, the European Jews were also heavily exploited. The author explained "individuals never
previously seen in the city of Czernowitz streamed in from all corners of the country in order to draw profit from a human tragedy. If the deportation
with all of its premeditation was in itself monstrous, then the exploitation of despair surpassed even this." (Mein Bekenntnis: The Ghettoization of the
Jews, p.

Impact Of Pre-Independence: Colonialism And Underdeveloped...
Pre–Independence: Colonialism and Underdeveloped India
It is a matter of argument that the economic development in India has been brought about
by British Intervention. But some research suggests that India had a developing economy
before British Raj (Rule), with its textile production, iron and steel trade, spices trade,
handloom and handicraft market, agricultural and food crop production. (Roy, 2002)
Even the colonised India was capable of sustaining its economy if it would not have been
exploited by various institutional setup and policies (free trade policy, high taxes, etc.)
devised under imperial British Empire, as Dadabhai Naoroji in his "Drain Theory" analysed,
which resulted into poverty, underdevelopment and flow of national wealth to foreign
nation. ... Show more content on Helpwriting.net ...
This led to the allied effort for bringing down British rule under 'Quit India'
movement. (Kumar & Raychaudhuri, 1983)
Table 2– Source: Kumar and Rayachaudhuri (1983, Table 7.19)
Post–Independence: Nehruvian Socialism and ISI

The view that impediments to development were inherited from the damages of colonial
rule, and not homegrown, became a key premise of Indian nationalist thought articulated by
Jawaharlal Nehru himself. (Roy, 2002) To counter mass poverty and underdevelopment,
Import substitution industrialization (ISI) was adopted. The self–sufficiency of India to carry
out development, productivity and economic gains within a country was emphasised over
international trading of goods. (Kumar & Raychaudhuri, 1983)
Nehruvian economic development models where based on the central planning which also
included state intervention in public and private sectors, especially in case of license issuing
under Licence Raj (Permit Raj) period (First Five year plan). Pandit Jawaharlal Nehru, who
was then the Prime Minister of India (1947–64) came up with the Nehruvian model, a mixed
method approach which manifested his socialist and liberal thoughts. The five year

How Did Marxism Contribute To The Rise Of Industrial...
The Marxist conception that the material basis of human life is determinant of all other societal spheres, is contingent upon the human creative capacity
for production. Perceiving man as "at all events a social animal," Marx regarded history as the union of the social relations of production and the mode
or techniques of production, culminating in the superstructure of society (Capital 444). From his account of history as the succession of "social
formations," characterized by antagonistic class structures and their respective modes of production, Marx interprets economic factors as the primary
causal constituents of social life, that money binds human life and society altogether. Max Weber, however, contended that the rise of industrial
capitalism could be rationalized by an emphasis on the ideas manifested particularly in the Protestant religion. He underscored the moral values and
norms which pervaded Protestant societies and the reciprocal process by which religious ethics are swayed by economic and social catalysts and vice
versa. Weber thus fostered a more dynamic conception of modern capitalist society, where ideas, namely the spirit of capitalism, rather than economic
preconditions theorized by Marx, were instrumental forces in examining the origin of the capitalist system, how it evolved, and how it manifested itself
into its present form.
Marx believes human history is characterized by social struggles. The modes or techniques of production necessitate relations

Historical Materialism : Karl Marx Essay
HISTORICAL MATERIALISM
Karl Marx, all through his life has been influenced by several philosophers. One of the most influential of them all was a German philosopher called
Georg Wilhelm Friedrich Hegel; We can clearly see that by looking at Mar's early writings. Marx's concept of historical materialism evolved from
Hegel's concept of trend in world history and Marx's criticism on the presence of religion and idealism in Hegel's philosophies.
According to Hegel a person is not a human being without their ability to think and it is the application of those thoughts/reasons that form history.
Furthermore, he says. "the spirit must create for itself a nature and world to conform with its own nature, so that the subject may discover its own
concept of the spirit in this second nature, ....it becomes conscious of its subjective freedom and rationality." It is the thoughts or the world spirit that
self–actualizes itself into the human society and creates world history. Humans unconsciously are nothing but a tool of world spirit. The world spirit,
like a parent, shows humans thepath and controls their action thereby creating history. For Hegel everything starts from an abstract, imaginary spirit.
The world history is governed by the action of thought or the world spirit.
In 1943 Marx wrote the "Contribution to the Critique of Hegel's Philosophy of Right: Introduction." In that unlike Hegel, Marx took a bottom to top
approach. He focused on the real subjects rather than the

Francis Fukuyama Wrote His Essay, вЂњThe End Of History?вЂќ
Francis Fukuyama wrote his essay, "The End of History?" in 1989 and elaborated on it in a book published in 1992 entitled "The End of History and
The Last Man." It was during this time, as is mentioned in the beginning of the original essay that Mikhail Gorbachev was enacting the policies of
perestroika and glasnost in the Soviet Union. The Cold War was at the beginning of the end. As such, the global tensions caused by the rivalry and
proxy wars between the United States and the Soviet Union were subsiding. Growing peace brought the opportunity for economic growth and as a
result cultural exchange. The first McDonalds opened in the Soviet Union. As Fukuyama mentions, modern music from the west was being distributed
and listened to from ... Show more content on Helpwriting.net ...
The struggle was characterized as that between the bourgeois and the proletariat which could only be resolved once a utopian state had been established.
Fukuyama asserted that the end of history had arrived. He acknowledged that the world has not yet reached the point at which other ideologies are
nonexistent or governments and philosophers are unneeded. He explains that the end of history is not defined by this end result, but by the point at
which it can be recognized that one ideology had essentially won out. This did not have to be in a very material sense. Liberalism, though there was
still opposition, appeared to Fukuyama to have the 'true' principles that could not be enhanced. The political and ideological climate appeared to
support the idea that more and more people were coming to accept that. The world seemed to be on its way to peace. Fukuyama was sure in his
argument and even expressed his condolences for the loss of history, a time at which action truly mattered because it had the ability to change the
world and bring new and interesting "art and philosophy" that there would be no use, place, or need for in a post–historical era.
The world politics had largely been treated in a realist perspective for most of history before the World Wars. Even through the Cold War it retained
dominance. It was the perfect example of the security dilemma and realist though leading to a realist reality. When World War II ended, there remained
two great

Archeology Personal Statement
I can pinpoint my decision to pursue a career in archeology to a single day. I was touring the old city of Quebec in the summer of 2012 and happened
upon an archeological dig site that was being opened to the public. It contained the foundations of some of the first houses built by the French when
they settled in Quebec. Pieces of shattered pottery and rusted coins were on display. I marveled at the thought of unearthing something previously lost
to history. When I began my high school career, I had the opportunity to be exposed to a range of social studies courses in and outside of my high school
, all of which have reinforced my interest in history, and have provided me with a different perspective on history. For instance, during my junior...
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I originally became interested in Dutch history after studying tulip mania in an Advanced Placement economics class. Tulip mania was a period in the
Dutch Golden Age during which the price of tulip bulbs reached an astonishing high and then plummeted, causing the Netherlands' market to crash.
The connection between the economic crash in the Netherlands and art during the time period fascinates me. The Rembrandt Tulip, famous for its
mosaic virus that causes a multicolor effect of lines, was made popular after being featured in many paintings of the Dutch masters. It was this fame
that in part led to the drastic increase in the price of tulips. After studying tulip mania and visiting the Amsterdam/New Amsterdam exhibit at The
Museum of the City of New York, the Dutch Golden Age and how it impacted colonial America has fascinated me. I have taken an online introduction
to Dutch language course in order to pursue the study of Dutch colonial history further. During my undergraduate career, I hope to gain valuable
research experience by studying abroad in the Netherlands and publish a paper on the subject of Dutch colonialism in

Causes Of Slavery In South America
The slavery in South America At the time of American revolution, slavery was a national institution. The number of slaves at that time was not so
many and they lived and worked in almost every colony. Before the Constitution was ratified, the Northern states had abolished slavery outrightly or
used law to emancipate gradually. In 1787, the Northwest Ordinance barred the slavery from the new territories in the period. However, the slavery
existed effectively only in south and became the 'peculiar institution' in that region. Slavery was the political, economic and social basis in southern
America. According to the law at that time, the slaves didn't have right to learn writing and reading. That was a method which government made the
slaves easy to be controlled by them. The knowledge means widen people's mind and make people start to think about everything. However, the right
to get knowledge was deprived then these slaves would hard to have independent thought about to get free, they would be easier to be controlled. The
slavery provided a huge benefit for south America on economics at that time. Because of the geological reason, the south American developed by
agriculture. Many people had their own land to plant crops. Also, in south America, the economics almost based on agriculture. However, in south
America the proportion of the area of land and the population had a big gap. They didn't have enough labor to afford the work to plant in the huge
area of land. That was

Native Hawaiians And Asian Immigrants
In Hawaii, in the 1940's, Caucasians, or haoles as they were commonly referred to, unfairly targeted Native Hawaiians and Asians by giving them
significantly lower wages. This treatment, along with other social, economic, and political issues, created the negative atmosphere that led to 1949
Dock Strike. On the one side of this conflict were the haole– controlled companies known as the "Big Five" : on the other side were the longshoreman
workers made up mostly of Native Hawaiians and Asian Immigrants. Although Native Hawaiians and Asian Immigrants struggled for decades against
the Big Five, it was the Dock Strike of 1949 and the help of the ILWU (International Longshoremen 's and Warehouse Union), and its Regional
Director, Jack Hall,... Show more content on Helpwriting.net ...
Stainback/ Densho Encyclopedia, encycolpedia.densho.org/ingram%20M,%20 Stainback/.) Card 1. Another example of people against the strikers is
a group of women called the "Broom Brigade". The Broom Brigade was a group of women who did picket strike marches against the dock strikers.
("Global Nonviolent Action Database." Global Nonviolent Action Database. N.p., n.d. Web. 29 Sep. 2017.) Card 2. Haoles thought strikers didn't fully
understand how they were affecting Hawaii socially. The photo shows the sheer amount of dock workers that didn't appreciate the Big Five, during the
1948 Labor Day Parade. ("Honolulu Star– Bulletin Local News". N.p., n.d. Web. 01. Sep. 2017) Card 2. The author of this source was unknown, but
it is clear that this source was meant to only report what was happening. It was written during the 1949 Dock Strike reporting a Broom Picket
Strike. This source was written to tell us the main daily news and to report important events in Hawaii. This source had an informal tone, meant to
only convey the message and its meaning. The subject of topic was to only report specific events in the newspaper. The economical aspects of the
dock strike were a key conflict and compromise of the Dock Strike. The first day of the dock strike was May 1, 1949 and the official ending of the
Dock Strike was October 23, 1949 ("Global Nonviolent Action Database." Global Nonviolent Action Database. N.p., n.d. Web. 29 Sep. 2017. Card 3).
The dock strike was a

Difference Between Classical And Classical Economic Thought
The history of macroeconomic thought and policy was developed through different phases mainly marked by the depressions, recessions and expansion
of the 1930s, 1960s, 1970s, 1980s, 1990s, and 2000s. Various macroeconomic theories were developed during these periods. Among them, Keynesian
and classical economics addressed economic problems such as unemployment issue with similarities but also differences.
In this essay, I will identify similarities and differences in Keynesian and classical economic thought. Then, describe how Keynesian and classical
economists address the issue of unemployment. And finally, I will describe new developments since the 1980s. To identify similarities in Keynesian
and classical economic thought let us first examine their definitions: Classical economics is the body of macroeconomic thought associated primarily
with 19th–century British economist David Ricardo that focused on the long run and on the forces that determine and produce growth in an economy's
potential output.
Keynesian Economics is the body of macroeconomic thought that asserts that changes in aggregate demand can create gaps between the actual and
potential levels of output, and that such gaps can be prolonged. It stresses the use of fiscal and monetary policy to close such gaps.
We notice from those definitions that both thoughts focus on how an economy reaches its potential output through various factors.
Unlike similarities, there are more differences in Keynesian and

Cue For Treason Essay
Imagine taking part in a travelling acting troupe during the golden age of Shakespeare in England, with your life illuminated by your distinctive daily
adventure. This alluring adventure was only a possibility during the Elizabethan era of England, the backdrop for the novel, Cue for Treason. The
aspects of this particular time period that make it an intriguing background for the novel include the eminent historical figures who provide an
appealing and interesting atmosphere, its position as the undisputed golden age of English fine arts, with countless critically acclaimed musical
compositions, poems, plays, paintings, and novels produced during this era. Another characteristic of the epoch that allows it to provide an enchanting...
This patriotic fever contributed greatly to English economic growth, political stability, and the rapid international expansion. This epoch of stability,
economic growth, rapid expansion and the exploration of new lands made the Elizabethan era an enthralling, gripping historical setting and backdrop
for a novel. The captivating, alluring aura of the Elizabethan age makes it an exciting backdrop for a story but one that eclipses almost any other
historical era in terms of excitement. The intriguing atmosphere of this epoch can be characterized by three of its aspects, the distinguished historical
figures who provided insight into the general trend of thought during the time, the expression of thought and feeling through art and literature, and the
political and economic stability of the era. Of course, despite the many advancements; political, cultural, and economic. They didn't come without a
great cost, the English economic growth was fueled by the Transatlantic slave trade. With disparaging wealth inequality and caste–like system
governing the social aspect of society, this historical era was far from perfect. Until next time, Ayueil

The Change Of The East India Company Monopoly
In the four months that he was in England, Say was confronted on the things he saw, the things he admired and those that he deplored. Still in England,
Say was able to make crucial friendship networks with well–known economist such as, David Ricardo, Jeremy Bethem, James Mill and Thomas
Malthus. At the time, he visited Glasgow; he got a chance to sit on the professorial chair of Adam Smith, and this marked an emotional period in his
life. Without a doubt, his perspective of England could not go without observation and criticism of his fresh acquaintances, particularly their view on
the East India Company monopoly, as well as, the agricultural protectionism of England via the Corn Laws. However, both of the problem eventually
came to an ... Show more content on Helpwriting.net ...
It would help them create the basis in which they would get to criticize the decisions of the state. Say gave lectures at the conservatory for about ten
years. It was in the acceptance that he coexisted in a government that was doubtful of academic critics. During this time, some of the people who talked
about things that the state was not pleased would have their course closed.
Finally, prior to his death, about a year or less, Say was given a political economic chair at the France College. Say was for the thought that, his
discipline should have the name "social economy," as economic policies, and economic laws impacted the society as a whole.
Even though he was not feeling well in his last years of life, Say was still productive and was still writing, overseeing and lecturing the fifth version of
his famous book 'Treatise ' which was published in 1826. Say 's wife died in 1830, which led to Say' being depressed and lonely. In 1832, weeks later
after his opening lecture at the France College for the opening term, Say died at the age of sixty–five.
Say got credited with more than what came to get known as Say 's Law of Markets. Say was neither the first person nor one of the first people to
introduce unique economic concepts into the paradigm of the classical school. Examples of such concepts are entrepreneur, services, and utility. Since
he was fluent in the English language, Say

Compare And Contrast The Utility Theory Of Value And The...
Compare and contrast the utility theory of value and the labor theory of value
IgnД— MartutaitytД—
ISM University of Management and economics
Compare and contrast the utility theory of value and the labor theory of value
Many economists tried to explain the source of value of goods and services and find the best way to measure it. Along with other theories two most
popular ones were created. First of them is the labour theory of value mainly known from the writings of Adam Smith, David Ricardo and Karl Marx.
Despite the fact that their views on value had minor differences, their main idea was that "with few exceptions the quantity of labour employed on
commodities determines the rate at which they will exchange for each other" ... Show more content on Helpwriting.net ...
Probably the most commonly used and basic economic method to determine prices of a commodity is the supply and demand method. While this
method states that both demand and supply are equally important and it is their intersection that determines the price of a good, both theories of value
emphasize only one function of this model. As the advocates of labour theory cared mostly about the inputs of production, they mainly focused on the
supply side. For example, Ricardo mentioned in his letter to Malthus "it is supply which regulates value–and supply is itself controlled by comparative
cost of production." (Ricardo, 1951, 279). In contrast the theory of marginal utility states that it is not the supply but demand that is the main factor in
the supply demand model. This theory emphasizes the importance of the consumer attitude towards the good and what kind of value does it provide
for him. Its supporters pointed out that despite how much labour is used to provide certain good or service without demand it will be worthless. The
supporters of the utility theory of value such as Jevons and Menger sometimes ignored supply and based their theories exclusively on the demand and
made assumptions supposing that the rate of supply was given rather than changing (Landreth & Colander, 2001). Thus, while labor theory suggest that
usually supply determines the value of a good, the theory of utility emphasize the importance of

Theories Of Classical Political Economy
Economic system in the world is mostly productive in America this is due to the constant unlimited wants of its people and the fact that most people
have high standards of living (Rosefielde, 2008). An individual has different wants and at any particular time an individual can satisfy his or her
wants through purchasing these goods therefore there is an unlimited wants for goods and services. In recent times people consume goods that they
don't produce they sell or provide services then the income they gain from the services they purchase the goods that they want to consume. In this
paper I will discuss the developed theories of the classical political economy developed theories and discuss on their different characteristics. These
theories were mainly concerned with the changing aspects of economic growth in different centuries. Classical political economy is the political
economy during industrial revolution from the 18th century to the 19th century. The theories of classical political economy ask some specific
questions whose answer creates the differences between them. Some of the asked questions are what does the surplus consist of and what defines its
size, what is its origin, to whom is it distributed to, what causes or rather defines its growth over time. In addition the economists also ask what
happens to the relative shares of surplus obtained by the various classes of revenue appropriators as the surplus increases. Lastly how does the
distributive relation impact

Essay about Does History Have an End?
The Communist Manifesto was published just before the European Revolutions of 1848. It was meant as a statement of purpose for Marx's newly
formed Communist League and its straightforward, even prophetic, tone is that of a man confidently explaining to a confused world the reasons for a
tumult which had not yet begun. Why is he so sure of himself? The answer to this depends on Marx's deterministic view of history.
Marx inherited from his philosophical father, Hegel, the idea of historical progress (.<a href="http://www.gradesaver.com/ClassicNotes/Authors
/about_karl_marx.html">http://www.gradesaver.com/ClassicNotes/Authors/about_karl_marx.html</a>). Both believed that human history unfolds
according to a distinct series of historical ... Show more content on Helpwriting.net ...
When Marx wrote The Manifesto, he thought he was announcing the end of capitalism only months before its downfall.
However, it is important to realize that this hostility also takes a very specific form: the dialectic (that of exchanging logical arguments to arrive at the
truth. According to Marx's dialectical account of history, every class is unstable and fated for complete destruction because of its internal
inconsistencies. Out of its ruins, a new class forms that resolves the in congruencies of its forerunner but retains it own, which will in turn cause its
eventual destruction. More specifically, the bourgeoisie must create the proletariat as a condition of their own development, in order to work in their
burgeoning industries. While doing this, they must treat the proletariat worse and worse while giving them the means to associate through politics. The
consequence of this plan is that the proletariat grows in power and eventually overthrows their oppressors. The inner contradiction is the bourgeois's
need for proletariat labor. When this need is met, it leads to the eradication of the bourgeois's power (Marx, 94).
The proletariat's role in history is unique because the vanquishing of capitalism leads to a classless society (Marx, 83). If there are no more classes,
there cannot be any class antagonism, and if there is no class antagonism, then (according to Marx) there will be no

Dead Economics
New Ideas From Dead Economics, written by Todd G. Buchholz, introduces different economic ideas from great economists throughout history. The
book starts with the basic introduction of economists, and then points out the issue in the past of the ignorance of the economists. From his insightful
perspective, Todd G. Buchholz illustrated the theories of the great economic thinkers in history and developed the modern economic thought based on
those theories. Adam Smith's "invisible hand" and "division of labors", Alfred Marshall's "economic time" and "elasticity model", and John Maynard
Keynes's "Keynesian thoughts" are the five most intriguing ideas presented in the book that contributes to the modern economics. The idea of Adam
Smith, who wrote The Wealth of Nations, started the economics. Smith believes that all humans desire to live better than they normally do, and that
self–interest powerfully motivates the society to increase the wealth of nations. In addition, "invisible hand", the symbol of the free market, let people
take rare resources and make them into something more valuable according to ... Show more content on Helpwriting.net ...
Marshall learned about how businesses operate and isolated the economic times into three time periods. In the first period, only the demand changes;
the second period, also called "short run", is when producers change the supply amount; during the third period, the "long run", producers vary labor
and materials. Marshall believes that prices are determined when supply and demand overlap. Marshall refined elasticity and developed model of it.
Elasticity is the extent to which a change in prices causes a change in the quantity of demand, and it is a very important tool in all economics. For
example, when the price of a product increases but the demand of it does not change, it is inelastic demand. If there's no substitute of this product,
monopoly appears and causes the

Personal Reflection
Prior to this year I did not think of history beyond being another academic subject on my "must do" list. The exercises you put us through made its
importance to success, especially in business, evident. My summer travel reading list of (put the 2 I gave you) was chosen to start to learn more on
how to recognize what effects change in business and economies. It became readily apparent I am woefully undereducated. Looking to swim in
knowledge, now I have a litany of history, politics, philosophy, and business books to read.
The comparative essay of FDR's New Deal, the Great Depression, and Reaganomics introduced me to a far better understanding of how political
philosophers' and economists' enact corrective processes that change the course of nations, and therefore the world. It was an introduction to a new
definition of power.
The adage's warning "to not know history is to repeat it" became clear as we delved into the sine wave nature of historic capitalist economies. The
bank failures, resulting panics, recessions and depressions were truly scary. A creature of habit, I had not expectedcapitalism's delivery of growth to be
arrestable or even thought of the setbacks faced. As I watch the current federal administration the pride in my understanding of the bond between
capitalism and democratic political institutions that I thought never failed to not only revive the United States but ensure its success, I realize was a
naГЇve miscomprehension of the entire democratic

Adam Smith Influence on Economic Theory Essay
Why is the work of Adam Smith considered so crucial in the development of economic thought? Adam Smith is widely regarded as the father of
economics as a social science, and is perhaps best known for his work The Wealth of Nations. Throughout this work Smith states and informs
towards his belief that society is not at its most productive when ruled over by rules and limitations with regards to trade, and that in order for
markets to maximise prosperity, a free trade environment should be made accessible. In this essay I intend to asses the way in which many of Smiths
theories taken directly form his works can be applied to past and current situations, first from an economic then social, and then a political point of
view. I will also... Show more content on Helpwriting.net ...
The 'invisible hand' would have such an effect if every individual acts in order to maximise their own prosperity, the prosperity of the community will,
in turn, be maximised and become more efficient. "This effect is very well exemplified in modern day terms by using a supermarket queuing system as
an example. Each customer getting in line selfishly chooses to maximize his own interest, that is to check out in the shortest time, regardless of the
other customers. Their utility maximizing choice is to get in queue in the shortest line; this means that eventually customers queue up in lines all of the
same length. Therefore even without the slightest direction and by following only their selfishness, the lines are all of the same length, which is clearly
the most efficient disposition." This theory has been crucial in the development of economic thought in that it is a statement which reflected society in
Smiths day, and is still so widely applicable in modern day society. From a political point of view, Smith wrote that Government intervention should be
kept to a minimum within society. From a mercantilist point of view this was a terrible suggestion, however Smith argued that government
intervention in markets will cause a limitation in productivity, and therefore not maximise efficiency. However if left alone as discussed in the previous
paragraph, each party will seek to maximise its own prosperity within the given constraints, in turn maximising the

The Largest Cause Of The French Revolution
The French Revolution of 1789–1799 was one of the most important events in the history of the world. The Revolution led to many changes in France,
which at the time of the Revolution, France was the most powerful state in Europe. One of the largest causes of the revolution was political. Political
is relating to the government or the public affairs of a country. Another large example is economics. Economics are associated with the wealth and
resources of a country or region, especially in terms of the production and consumption of goods and services. And lastly, social. Meaning people have
to live together while in a community. During the eighteenth century French Monarchs had unlimited power and they declared themselves as the
"Representative of God". When Louis XVI (1774–1793) ascended the throne of France during that period, the economic condition became weak. Louis
XVI was a simple and innocent man but, his wife and Queen changed those thoughts. Marie Antoinette always interfered in the state affairs. Marie felt
as she was the bested deserved everything. And that is exactly how it went.... Show more content on Helpwriting.net ...
They were divided into three different classes: The Clergy, The Nobles, and The Commoners. The Clergy belonged to the first estate. The Nobles
belonged to the second estate. The Commoners belonged to the third estate. The first two estates had to pay no taxes at the time while the commoners
had to supply money for everything the first two estates did. From History Discussion – Discuss Anything About History, "They exploited the common
people in various ways. The higher clergy lived in the midst of scandalous luxury and extravagance. The common people had a strong hatred towards
the higher clergy. On the other hand, the lower clergy served the people in true sense of the term and they lived a very miserable life." Social classes
caused many arguments and disagreements between the French

What Do John Maynard Keynes, Richard Norgaard, And Fred...
What do John Maynard Keynes, Richard Norgaard, and Fred Block and Margaret Somers have in common? They all challenge widely accepted
economic thinking and support thoughtful, progressive government action in the midst of social crises. In the 1930s, Keynes debunks a rationale for a
laissez–faire system that was perpetuating large–scale human suffering and made a strong recommendation for government intervention. Norgaard then
broadens Keynes's critique of assumptions underlying free–market ideology to include all widely unquestioned and accepted economic beliefs–– which
he terms economism–– and urges a transformation of this belief system toward discursive democracy to enable effective environmental regulation and
economic redistribution (lecture). Adopting Keynes's focus on empirics while using a similar explanation as Norgaard, Block and Somers criticize a
study of late eighteenth–century British poor laws that is commonly used to oppose welfare policy while explaining that its widespread, unquestioning
citation in academia and policy analysis points to the pervasiveness of conservative assumptions about the poor and what is natural. Altogether, these
authors urge us to reconsider dominant economic stories that lack a circumspect, factual basis as we consider various social, environmental, and
economic policy alternatives.
John Maynard Keynes is the first economic maverick here who calls attention to the flaws in common economic assumptions while also expanding the

How Did Buddhism Influence Chinese Culture
How Buddhism Influenced Chinese Culture
As one of the four great ancient civilizations, China has a very long history and a gorgeous culture. We can not ignore the fact that not only religions
and cultures are inseparable, but also can influence each other profoundly, Just like Buddhism and Chinese culture. "The Chinese traditional culture
includes three systems of thought: Confucianism, Taoism and Buddhism. The first two are Chinese culture, and Buddhism is a foreign religion from
India. For over 2,000 years, Buddhism has interacted with all levels of Chinese culture such as literature, philosophy, morality, arts, architecture and
religions. As a result, Buddhism has successfully integrated into the traditional Chinese culture and has become one of the three pillars." (Xing, 308)
2010 Religious report survey data show that there are ... Show more content on Helpwriting.net ...
To begin with, "in different areas of public life, from government to business, religion was been promoted. For example, in a recentspeech, the former
country chairman suggested that religion, including Buddhism, could help ease tensions between the haves and the poor." (Tian,1) Besides, Buddhism
as well as spurred a boom in commercialism and production. Buddhist statues and other religious ornaments became popular items for common
consumption. Much more interesting, the contrary trend appears withtemple monks are trying to connect Buddhism with business. For instant, Shi
Yongxin, the Abbot of Shaolin Temple (the origin of Chinese Buddhism) is called a CEO because he is the first person who has made the connection
between traditional Chinese Buddhism and business. Abbot Shi runs many Shaolin Kung fu schools inside China and abroad. There is no denying the
fact that some famous abbots just like Shi Yongxin and others, made people think a lot about the influence of Buddhism on business. Moreover, there
are three accepts to show it's

Exploring The Relationship Between Education And Human...
INTRODUCTION The world has recorded an improvement in the living standards over the last millennium, most of which can be attributed to the
embracing education around the world. Education is a powerful instrument with a huge potential to increase opportunity for individual, community, and
countries. It involves the refinement of human resource to explore its infinite potentials to achieve sustenance. It has huge potential to increase human
capital in the labor force and also improve the innovative capacity of an economy. Because of the significant impact of education to economic
development over the years, early scholars even acknowledged education as a very relevant form of investment in human capital and continue to
propose means to... Show more content on Helpwriting.net ...
Adam Smith also advocates training in the higher sciences which of cause has helped in rapid industrialization of societies by providing the required
manpower with technical skills. There continue to be a rise in the rate at which people absorb and disseminate knowledge. Education bring with it
enlightenment and self–discipline which if humans possess could help them make right and almost rational decision for themselves which of cause in
the end is beneficial to the entire society and country. JS Mill acknowledges by saying giving enlightenment and self–discipline the laboring class could
escape the Malthusian trap. He saw education as a way of redistributing income and increasing equality of income. Briddle & Davis (2003) confirms
that education could raise the psychological subsistence level, thus providing a major check to population. This has a benefit of creating a strong
nation that can enjoy better cultural, economic and political benefits. The bottom line is Adam Smith, J.S. Mill and scholars in the classical school in
different opinions recognized the necessity for societies to engage in education The Relationship between Education and Economic Growth As noted
above, education has

Orthodox Marxism Research Paper
since it considered economic forces rather than political activism to be the prime mover of history. Orthodox Marxist thought had little to say about the
role of political organizations in general, since it considered economic forces rather than political activism to be the prime mover of history. AsMarxism
didn't consider the role of political agency in social change, historical materialism framework of explaining the history was now challenged.
Around the turn of 20th century, capitalism was flourishing and so was economic inequality and social fragmentation; orthodox Marxism did not offer
any practical solution to crisis struck population as they were still waiting for the contradictions to pull the system down, and offered no practical

Fukyama V huntington Essay
Francis Fukuyama and Samuel Huntington are two of the most controversial and influential modern political theorists of our times. Fukuyama's book,
The End of History and the Last Man, and Huntington's book, The Clash of Civilizations and the Remaking of World Order, pose two very conflicting
theories on international relations. In this paper I will summarize and compare/contrast the two theories. Both theories, written since the fall of
communism and updated since the first gulf war, have been widely read, taught, praised and criticized
The End of History and the Last Man is a book in which Francis Fukuyama argues the controversial thesis that the end of history, a time when class
distinctions no longer exist, believing them to be the ... Show more content on Helpwriting.net ...
To understand Fukuyama's theory one must look beyond the specific words. Fukuyama is not claiming that history has or will end and that occurrences
of history will cease to exist. He is saying that democracy is such a perfect and Idealistic form of rule that no major change in political philosophy can
happen in the future. Historical occurrences will still exist, but they will be within the realm of the current political philosophical thought. Fukuyama
goes even further to prove his point by showing that the new philosophies on government created since the oncoming of democracy, (Communism,
Socialism, etc.) have ultimately failed and democracy has prevailed in its place.
In the Clash of Civilizations and the Remaking of World Order, Samuel Huntington argues that the primary political actors in the 21st century will be
civilizations and that the primary conflicts will be conflicts between these civilizations rather then between nation states.
Huntington Writes:
"It is my hypothesis that the fundamental source of conflict in this new world will not be primarily ideological or primarily economic. The great
divisions among humankind and the dominating source of conflict will be cultural. Nation states will remain the most powerful actors in world affairs,
but the principal conflicts of global politics will occur between nations and groups of different civilizations. The clash of civilizations will dominate
global politics. The fault lines between

How Did The Communist Manifesto A Successful Basis For...
Written by German philosophers Karl Marx and Friedrich Engels in 1848, the Communist Manifesto is one of the most intriguing and controversial
works in history. A political pamphlet written after an explosion of revolutionary struggles, it provided a new thought on economic and social ideas.
With all of its distinction and eminence, the Communist Manifesto serves a great deal of relevance to today's societies and governments. The political
pamphlet served as a basis for socialism for the next one hundred years after it was published. Many countries experienced with its ideologies and
fundamentals, but the majority did not remain permanent. With the changes and experiences of those countries it was clear that socialism was not a
successful method of economic and social stability. As for the countries that did remain socialist, their governments have reinforced and supplemented
... Show more content on Helpwriting.net ...
Marx and Engels were absolute in their view as that is still evident in today's societies and economies, the combined ideas of both systems in modern
governments show that neither socialism nor capitalism are take–it–all–or–leave–it–all comprehensive theories, but systems that work to the best when
the best ideas of both are combined.
The Communist Manifesto provides a great perception of economic struggles and successes and a history filled with lessons and teachings. The
argument that the Communist Manifesto should or should not be regulated to the "trash heap" of history is completely absurd. The Communist
Manifesto is still relevant today and serves as a basis for economic socialism, as well as being an important piece of political history and one the
exemplifies the ideas of economic government, it is a complete piece of genius that should only be regarded with other important political

Why Is Karl Marx Considered A Materialist?
The philosopher, social scientist, historian and revolutionist, and one of the founders of Communism, Karl Marx, is without a doubt the most
influential socialist thinker to think above in the 19th century. The fact that Marx provided publication, is the importance that scholars had the
honorable opportunity to appreciate Marx's superior intelligence.
Marx was born May 5, 1818 in Prussia, and was one of nine children! Marx was raised as an average young boy and student. As Marx got older his
very successful father suggested that he enroll in a more serious school. So, he enrolled himself to the University of Berlin where he studied
philosophy and law. He eventually received his doctorates degree at the University of Jena in 1841.(Hollow Verse,... Show more content on
Helpwriting.net ...
The book was then published by a group of Germans known as the Communist League. The book reflects the goals of Communism. It identifies class
relationships that are defined by an era's means of production(Digital, 07 Mar.). The Communist Manifesto argues that this type of development is
inevitable, and that capitalism is unstable. They continue to argue that if they eliminate the social class that it isn't going to change the government,
but a revolution will. Marx believed that he discovered the key to history. He believed that Capitalism would be overthrown by communism and
oppressed workers would finally be free. But also that capitalism would help start a revolution to ensure a true communist society would be
born(Boundless, 05 Mar.). The manifesto is one of the most thoroughly studied texts in the history of political thought and it has a very big literary
value for us today. Marx has given us a insight on why and what makes our history meaningful.
Another thing that Marx thought about was his political theory. His political and economic ideas have been used to design dangerously planned
economies and dictatorships. Politics was like a religion to Marx. All the history of humanity was a struggle between the bourgeoisie and the
proletariat(Boundless, 05 Mar.). People bartered and traded while living in small communities. The philosophers have only

Pansette As An Accomplice In The Case Of Martin Guerre
In Natalie Z. Davis' reconstruction of Martin Guerre's famous case of identity theft, Guerre's eight year absence allowed for Pansette to authentically
impersonate him for three years. . However, following his dispute with his uncle, Pierre Guerre, over the family inheritance, Pansette was accused of
being an impostor, ultimately leading to his execution. Concluding the case, the court declared Bertrande and the Guerre family victims in the trial.
Unlike the participants of the case, Davis does not conform to the idea of Bertrande as a mere victim, but rather, an accomplice motivated by
socioeconomic status. Critics often question whether Davis' interpretations trespass the boundaries of a historian. Yet, in order to evaluate Davis as a
historian, ... Show more content on Helpwriting.net ...
The key passage for critics explicitly states Davis' beliefs of Bertrande as an accomplice, "But the obstinate and honorable Bertrande does not seem a
woman so easily fooled, not even by a charmer like Pansette. By the time she had received him in her bed, she must have realized the difference; as
any wife of Artigat would have agreed, there is no mistaking 'the touch of the man on the woman.' Either by explicit or tacit agreement, she helped him
become her husband" (Davis, 44). The main argument is that Davis' assumptions fail to take into account the ages of Bertrande and Martin during their
marriage, as well as Bertrande's long abstinence as a possible reason for her memory failure. Yet, Davis' arguments are far from imaginative, in fact,
they are derived from the the thoughts of the French peasantry, including those of Judge Coras himself, "She had shared her bed with the prisoner for
more than three years, 'during which long interval it is not likely that the said de Rols would not have recognized him for a stranger..." (Davis, 79).
Contrary to the arguments of critics, Davis does not fail to demonstrate historical proof for her assumptions, as it is important for history to take into
account the psychology of the

Karl Marx History of Economic Thought
HS11–7,756,1.00 History of Economic Thought Christof Zanecchia 10–992–204 Professor Allgoewer Karl Marx: "A context for inevitable social
revolution" Of particular interest in Rima's summary and critique of Marx's background and social/economic contributions is the quote: "It is not the
consciousness of men that determines their being, but, on the contrary, their social existence that determines their consciousness." Karl Marx, in
reference to modes of production, which refers to the social relationship present in ownership and the use of the means of production, explains how the
effects of the control of modes of production on society are intrinsic in a ... Show more content on Helpwriting.net ...
Marx rejects the classical view of exchange, explaining that under conditions of simple reproduction of goods, money serves only as a medium to
circulate commodities. In the classical view, this process of production and exchange involves the exchange of individuals' commodity surpluses for
money, which are used to buy other commodities. This process whose purpose is to satisfy only wants can be represented by C–M–C. The capitalist
process for Marx is different in that the capitalist uses money to buy labor power as a commodity whose use value, in turn, is at his disposal for the
entire working day. The capitalist then uses the selling price of workers' products (in which their labor power is set) to return an amount of revenue to
the capitalist that exceeds the wage cost of the labor he purchased. This can be represented as M–C–M or "buying in order to sell." This creates an
immediate economic advantage from the standpoint of the capitalist in the M–C–M process because he has the money to purchase the capital labor
necessary to create more money through "surplus labor power." For Marx, this represents a change in the classical perspective from "buying in order
to sell" to an attitude of "buying to sell dearer." This alters the exchange process into an input of M "en style lapidaire" to create an output of more M
or "value that is greater than itself" – a process that benefits the capitalist agents

The Narrative Of The Austrian School
One of the highlights of CCA 2 was undoubtedly the lecture by Nicholas Wapshott. Wapshott brought a journalistic and storytelling perspective to an
otherwise economist and historian dominated discussion. Wapshott's lecture put the character of Hayek and Keynes on display. Wapshott described
Keynes as magnanimous, claiming that Keynes' followers were "like disciples." Keynes' identity clashed strongly with the inward and thick accented
Hayek. This simple distinction of personalities breathes life into a conflict of ideas, giving a face to two distinct economic ideals. This CCA offered a
unique opportunity to understand this conflict, an experience that this paper hopes to synthesize in an effective manner. This paper will summarize the
history of the Austrian School through the narrative of the speakers and show the distinctions between Hayek and Mises as discussed by Dr. Nathan
Schlueter. Dr. Eugen Schulak provided the most comprehensive history of the Austrian School, a narrative that the other speakers simply built on and
added to. The opening of Vienne to the Jews created many economic opportunities which the German Historical School mishandled, as the failure of
the world exhibition shows rather clearly. Out of this rubble rose Carl Menger, the founder of the Austrian School. Dr. Shulak postulated that Menger
claime that "Every individual ... has wants", which formed the foundation for his ideas and made up the backbone of Menger's Principles of
Economics. Menger's

Devry Gscm 530 All Quizzes
DeVry GSCM 530 All Quizzes– Latest IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com
/DeVry–GSCM–530–All–Quizzes–Latest–545409504.htm?categoryId=–1 If You Face Any Problem E– Mail Us At JOHNMATE1122@Gmail.Com
Question 1.1.(TCO 1) Different levels of planning in supply chain operations management include(Points : 5) general and detailed planning. strategic,
tactical, and operational planning. long–term and short–term planning. logistical, operational, and procurement planning.
Question 2.2.(TCO's 1) Which of the following is a measure common to both the strategic profit model and the SCOR model?(Points : 5)
Responsiveness Return on assets Delivery ... Show more content on Helpwriting.net ...
Given these data, what is the inventory carrying cost of a level plan? (Points : 5) $100,000 $700,000 $70,000 $7,000
Question 6. 6. (TCO 2) You are sitting next to a person in business class on a flight from Los Angeles to Sydney, Australia. You mention to that person
that you got your ticket 2 months ago for only $12,500. The person responds that she bought her ticket 2 days ago for $7,800. This sometimes happens
because airlines often use an approach called (Points : 5) capacity management. yield management. load management. workforce leveling.
Week 3
Question 1.1.(TCO 4) MRP is a process that would be most applicable in which situation?(Points : 5) Planning requirements for repair parts for
production equipment in a manufacturing plant Planning requirements for safety stocks of finished goods in a distribution center Planning
requirements for bicycle seats in a bicycle production plant A and C None of the above
Question 2.2.(TCO 4) The longest lead time path in the BOM is the(Points : 5) time bucket. planning horizon. time window. cumulative lead time.
Question 3.3.(TCO 4) A master production schedule shows the following information.
Using a lot–for–lot rule, what is the MPS quantity for Period 1?(Points : 5) 90 80 100 40
Question 4.4.(TCO 4) Which of the following is not included in the information about the inventory records file for an

American Imperialism Essay examples
The United States of America had begun its political life as a colony of the British Empire. However, as the 20th century dawned, the nation quickly
found itself as one of the world's leading imperial powers. Historians have proposed various reasons for this change in the American psyche. Historians
from the progressive school of thought argue that economic interests dictated American foreign policy; while academics of the Conservative or older
patriotic tradition advocate that the nation's brief foray into imperialism represented a "great aberration" from typical American isolationism. A third
school led by Julius Pratt, applied Social Darwinism to the country – stating that a combination of religious and humanitarian components motivated...
This need for new markets had pushed the nation into conflict with other imperial powers. Exempli Gratia Beard, a champion of the progressive
school, stated that the desire for profits had pushed Americans into war with Spain over Cuba (Grob, page 165).
The Spanish–American War was fought mainly for economic reasons. TheUnited States' primary motivation for entering the war was "purely
economic" (Spanish–American War). The United States had a vested interest in Cuba– almost fifty million dollars invested in the island nation.
Additionally, America had a sound trade history with Cuba: trading more with the Spanish colony than its motherland (Cuba). The rotting Spanish
Empire provided a hindrance to American business interests. Tariffs and trade fees were especially troublesome to American businessmen. After the
war, America had successfully the profitability of their investments. This was done through the Platt Amendment. This amendment had essentially
dictated Cuba's economic policy: allowing Americans to check Cuban national debt and foreign treaties (Platt Amendment).
A second theater of the Spanish–American War was the Philippines. Although the United States initially had ambivalent feelings toward the Pacific
island nation, the nation ultimately moved to incorporate the territory for economic reasons. Acting under the facade of protecting the native people
from atrocities committed by Spanish colonists, the United States government annexed

The War Of The World War II
Going through the different levels of the educational system most everyone has talked about the Second World War in great detail. The European and
Pacific Theaters were the main focus of many historians and their writing, because war pertained to the audience of the time. WWII revolved around
the idea of freedom and liberating the fascist governments of Europe, the homefront back in the states was the war machine that kept the war churning.
Millions of pages have been written about the experiences and battles during WWII, and still continue, not much in the way of the American homefront
history has been written. Classical historicism reigned supreme early after the war, and historians saw that war was a major topic as it reflected the top
down approach. This included looking at men such as, Patton, Eisenhower, and Hitler, and also telling the more economic side of war. As early as
January, 1944 historians thought about the historiography of World War II. In The American Historical Review, historians geared up for the writing of
this history. Some historians already thought about the American homefront. Though attempts in the 1940s were a start, nothing in the way of
homefront writing came until the 1960s. These attempts merely focused upon how the homefront funded the war, metal production of the states, and
how the American spirit was fueled by the homefront. 1960s historians did not go into depth of these areas until the 1970's and 1980's. Most historians
were focusing on

How Did Polanyi Impact The Economy
Two times world wars in the previous century have made a huge impact on every field, triggering the development of economics at full swing. Some
ideas that intended to overcome the old theory and explain the shock were born at this time; for instance, view of Macroeconomics by Keynes and
new thoughts by Hayek. Karl Polanyi (1986–1964) concentrated in this research indicated the new perspective with regard to present and future world.
The huge impact made Polanyi write his main work in 1944, The Great Transformation (hereafter TGT). His first work inquires into the cause of World
War and Great Depression from comprehensive view such as a transformation of civilization with launching as the phrase 'nineteenth–century
civilization has collapsed' (Polanyi 1944, p.3). According to him, the nineteenth–century civilization fated the collapse, that is twentieth–century's two
times world wars and Great Depression, ... Show more content on Helpwriting.net ...
In wide meaning, economic history includes anthropology for him, so the economic history was the bud of Polanyi's anthropological study. He
acquired fame as an anthropologist, because he stressed anthropological analysis after TGT; for instance, Trade and Markets in the Early Empires
(1957), Dahomey and Slave Trade (1966), Primitive, Archaic, and Modern Economics (1968), and Livelihood of Man (1977) . All of these are about
anthropology and he got a famous as Anthropologist. However, these works did not mean that his interest really shifted to anthropology, from modern
social economic issues (Pearson 1977) . The turn is just surface and pretended. Indeed, although his anthropological works were brilliant, his estimation
as an anthropologist has become weaker and weaker today; in other words, more researchers consider Polanyi as a social scientist. Then, how was his
theory of international relations

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