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Paper on Keynesian Contributions to Public Finance.
PAPER ON KEYNESIAN CONTRIBUTIONS TO PUBLIC FINANCE
1. Impact of Keynesian Revolution on Public Finance
In 1936 British economist John Maynard Keynes published The General Theory of Employment, Interest, and Money. Distressed by the failure of
national governments to cope with the Great Depression, Keynes rejected many assumptions of classical economics and argued that state intervention,
and in particular regulation of interest rates, could control inflation and minimize unemployment.
What however was the "Keynesian Revolution?" Perhaps we can find the answer by taking a brief glance at Keynes's celebrated book The General
Theory of Employment, Interest and Money and the "short argument" on page 63:
Equation 1: Income = value of output ... Show more content on Helpwriting.net ...
Income = value of output (A+B) = consumption (A) + investment + National Dividend.
2. Saving (B) = income (A+ B) minus consumption (A)
3. Therefore: Saving (B) = investment + National Dividend.
It would be necessary to ensure that the "value of output" (so far as it represented the total price of retail goods) was kept down by using a part of
the "National Dividend" to reduce retail prices, by means of the second Douglas proposal, the "National Discount" or "Compensated Price."
The central policy change was the proposition that government action could change the level of unemployment, via deficit spending (fiscal stimulus)
such as by public works or tax cuts, and changes in interest rates and money supply (monetary policy) – the prevailing orthodoxy prior to that point was
the Treasury view that government action could not change the level of unemployment. A central aspect of the Keynesian revolution was a change in
theory concerning the factors determining employment levels in the overall economy. The revolution was set against the orthodox classical economic
framework, and its successor, neoclassical economics, which based on Say's Law argued that unless special conditions prevailed the free market
would naturally establish full employment equilibrium with no need for government intervention. This view held that employers will be able to make
a profit by employing all available workers as long as workers drop their wages below the value of the total
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The Theory Of Keynesian Economics
Introduction
During the Great Depression in the 1930's "classical theory had difficulty in explaining why the depression kept getting worse" (Cheung, n.d., para. 1).
Many economists have attempted to develop theories that help to explain changing circumstances and why things kept getting worse. John Maynard
Keynes, a British economist also known as the founder of macroeconomics, saw this as an opportunity and began to develop alternative ideas. His
alternative ideas led to the idea of Keynesian economics.
What is Keynesian Economics? Keynesian economics was used to manage the economy for roughly forty years until around 1970. "The main plank of
Keynes's theory, which has come to bear his name, is the asser–tion that aggregate ... Show more content on Helpwriting.net ...
3). In order for there to be full employment or lower unemployment
rates the demand of goods needed to remain constant. In order for demand to increase it had to come from the economy's output of goods and services.
"An economy's output of goods and services is the sum of four components: consumption, investment, government purchases, and net exports (the
difference between what a country sells to and buys from foreign countries)" (Jahan et al., 2014, para. 4). If savings was more than that of investments,
there would be inflation. On the other hand, Keynes stated that if more went into investments than savings there would be a recession in the economy.
This would mean that consumers would spend less, causing businesses to invest less in the market. Other well–known economist, such as Adam Smith
who felt that government should play no role in the market, Keynes felt that state intervention was the solution to this problem. According to Keynes,
state intervention was necessary to "moderate the booms and busts in eco–nomic activity, otherwise known as the business cycle" (Jahan et al., 2014,
para. 4). Keynesian felt that state intervention would promote full employment and price stability and more specifi–cally, "governments should borrow
money and boost demand by pushing the money into the economy. Once the economy recovered, and was expanding again, governments should pay
back the loans" (John
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The Keynesian Era During The Middle Of The Nineteenth Century
Before the "Keynesian" era in the middle of the nineteenth century, economists Adam Smith, David Ricardo, Thomas Mathus, and John Stuart Mill all
shared somewhat similar economic views of the world. Some of the main concepts covered during this time included the division of labor, theories of
rent, value, and distribution, theories of market "gluts" and population, and opportunity cost, competition, 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 from one set of hands to another, can relate even to this day, back to the revolutionizing conception of one extremely important
economist, John Maynard Keynes.
Before Keynes, economists believed with little to no government intervention, an economy would be self–adjusting in terms of employment and
economic production, consumption, and output. All the ideas of classical economists were questioned during the Great Depression because markets
were failing, there were high rates of unemployment, and the economy was not fixing itself. Keynes wrote The General Theory of Employment, Interest,
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Difference Between Classical And Keynesian Economics
Parts of economic theories seem to constantly change because there is no perfect economy; however, there are two categories in which most
economists fall under: Classical and Keynesian. Classical economists follow the theory described in Adam Smith's Wealth of Nations regarding a
Laissez–Faire policy with no government intervention. People who are considered to follow the Keynesian economic theory generally favor
government intervention in the economy during recessions in the business cycle (Colander p. 524). Three well known economists fall into these
categories: Milton Friedman and Friedrich von Hayek were considered to be classical economists, while John Maynard Keynes, developed the
Keynesian theory. Friedman was a firm believer in capitalism and that the market's guiding hand would help to regulate the economy. According to the
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Similar to Friedman, he promoted a Laissez–Faire style economy and figured that government intervention during recessions would only make
problems worse (Encyclopedia of World Biography 222). He also believed that the more regulations the government had on the economy, the less
freedom consumers had when making a purchase (223). During the Cold War, many economists though the Soviet Union's economy would grow at
such a high rate that it would be larger than the United States' economy; however, Hayek found holes in these arguments and did not think this was
true. According to economist David Peterson, Hayek's argument was, "...prices that efficiently allocate resources cannot be set by government fiat.
When an economy lacks the daily input of the individual decisions of millions of consumers...the result is colossal waste and inefficiency (86). This
contributes to Hayek's free enterprise view on the economy, that it should be consumers who determine the prices of goods based on their demand, not
the
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Halsey V. Milton Keynes General NHS Trust
The significance of this Article refers to the court ordering or referring individuals to use ADR methods instead of litigation to resolve disputes.
Article 6(1) makes it clear that the court can not compel any individual to use ADR to resolve disputes as everyone has the right to a fair and
public hearing. The court can only encourage individuals to use ADR methods to resolve disputes and if the parties to agree to use an ADR process,
they can not be complete to reach a settlement in that process. This can be seen in the case of Halsey v Milton Keynes General NHS Trust where
Dyson LJ stated that compelling parties to use ADR would not be accepted as it would violate the rights set out in Article 6 of the ECHR. Using
alternative methods to resolve disputes can be argued to be the better option in resolving most civil issues but no party can be constrained to settle with
whichever method being used. Furthermore, if parties do agree to mediate or use any ADR processes, the option to continue with the process is entirely
voluntary, and if a party does decide to discontinue, this discontinuation however, can not be challenged in the court due to confidentially rules.... Show
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Using ADR as a means to resolve disputes does not waive an individual's right to access the court as no one ever enters an ADR processes on the
basis that they must settle or if they do not they would not be able to use the court for better
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Economist: Milton Friedman And John Maynard Keynes
Economist, Milton Friedman and John Maynard Keynes disagree on many of the economic policies and theories created by each individual. Each
financial analyst has their own opinion when it comes to the Theory of the Consumption Function, monetary policy, and the free market. Friedman, a
capitalist economist lays out of the benefits and importance of spending and earning money. While Keynes, a man who has more of a socialist view,
finds many of Friedman's theories ineffective. The Theory of the Consumption Function, was written by Milton Friedman, in 1957. In this piece he
speaks on the topic of spending decisions. Friedman believed that individuals will base their spending arrangements on future income, Friedman called
this "permanent income."
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Keynesian, Monetarist, Fiscal Policy, Unemployment, Inflation
Keywords: Keynesian, Monetarist, Fiscal policy, Unemployment, Inflation
The Keynesian–Monetarist Debate
When looking from both side of the Keynesians and Monetarist argument, we notice that both sides are correct in different terms. How unemployment
is resolved in a labor market is opposed on the Keynesian side. While the Monetarist looked at the quantity of money, which should be increasing at a
constant rate. The Monetarist reduce the money supply, which reduces the spending's and increases the unemployment rate.
Keynesian
The public eye of the Keynesians was John Maynard Keynes. To have input on the Keynesian side, one must have employment to make any type
of income. Keynesians have a high level of output of spending's, also know as, rate of spending. At a rate of spending, aggregate demand is a graph
that shows "the relationship between the price level and the quantity of GDP" (Hubbard & O'Brien 414). Keynesians often use the "spending
stream" which is displayed as customer and capital goods that are being paid for by the people. During a depression, workers will take any job they
can, even if it means to be working at a lower or less costly wage.
Monetarist
The second school of economic called Monetarism; which maintains the money supply: the total amount of money in an economy. Money supply is the
chief determinant of current dollar of GDP, in the short–run and the price level over long periods of time. Monetary policy is one of the tools government
has to affect the
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Benin Art in Museums and Galleries Essay
The display of Benin art in museum and galleries reflect the attitudes and perceptions of Europeans towards non–western artefacts, especially African.
Thus as European attitudes change towards non–western art since the discovery of Benin art in 1897, Benin art has been revaluated and re–categorised.
Initially there was a great deal of debate about Benin art and its display, as it did not equate with the perceptions then held about Africa. Until the British
conquest of Benin in 1897, little was known about Benin and its culture apart from brief interaction with other Europeans in the sixteenth century. The
perception of Africa was of a primitive, savage and uncivilised land, full of 'abuses and fetishes and idolatries', (Hodgkin, 1975, ... Show more content
on Helpwriting.net ...
This posed a display problem to exhibitors including the British Museum as they tried to fit them into the ethnological museum to explain the
emergence of 'civilisation from prehistory' (Loftus, 2008). The predominating attitude towards the Benin artwork was that it was the exception and lost
treasure from an ancient, African civilisation. This resulted in the display of the Benin bronze plaques in the British Museum as a 'collective wall
decoration, halfway up the main stairs, one more element in the eclectic mosaic of artefacts' (Wood, 2008, p72). The rest of the display of various
antiquities of art and functional items like weapons and transport displayed jumbled together in glass cabinets with little or no detail as to the function
or cultural value of the artefacts often misrepresenting ideas about primitive life.
The primitive nature of African art attracted many artists looking for new inspiration and expression as urban modernity lost its vitality in the late
1880's and 90's (Wood, 2008). In adopting primitive African art as the catalysis for their expression of modernity, avant
–garde artists created a more
positive perception of the primitive rather than the negative barbaric perception. Wood (2008) quotes the early twentieth century, avant–garde critic
Carl Einstein in that the Benin artworks were of no decisive significance. In fact, the western artists reduced their sophisticated beauty of the artwork as
seen in
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To What Extent Is a Counsellor More Than Just a Good...
To what extent is a counsellor more than just a good listener? In your discussion we would like you to draw on key elements that form the practise
of counselling. In addition we would like you to consider your own qualities and skills and identify what you need to do to progress in the
profession. This century has seen a rise in counselling services. We have counsellors for specific diseases, addictions, depression, divorce, name the
problem and we seem to have a 'therapist' for it. So what are counsellors? Do we need them? Is that not what friends and family are for, to listen and
help us through difficult times? Is a counsellor just a 'paid friend'? Can anyone be a counsellor? After all anyone can listen, we do it all the... Show more
content on Helpwriting.net ...
the time and length of session, cost, what is on offer and how things will progress. Some perspectives prefer strong boundaries whereby psychoanalysts
interact less, letting themselves be the blank canvas for the client to project onto. Though it may be that, as therapy progresses, boundaries may be
relaxed. Humanistic counsellors tend to become more involved and less rigid in their approach. It is important to get a verbal agreement on the
boundaries to preclude misunderstandings on both sides. Key values within the framework also include respecting the dignity and rights of the client;
integrity is essential for trust and respect and a sound knowledge base constantly updated ensures appropriate techniques or interventions to help
diminish the suffering and distress of the client. Confidentiality is crucial, the client must be aware that he is free and safe, in a non–judgemental
environment, to express all views and feelings knowing permission will be sought to share anything unless there is a fear of danger to self or others.
Working within an ethical framework like this will help both client and counsellor to achieve the most from the relationship. Empathy, good listening,
and appropriate nonverbal communication coupled with good language skills are developed alongside being able to divorce personal beliefs in order
to accept how the client looks at the world.
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Milton Friedman Essay
Milton Friedman
Milton Friedman is known as one of the top economists in the world. He has a Ph. D. from Columbia University, won a Noble Memorial Prize in
economics and has also been awarded many honorary degrees by other Universities in the
United States. As you can tell, Milton Friedman has played a significant part in helping to solve the economy problems of the world. You've probably
heard all about his accomplishments and awards he has received, but what about how Milton
Friedman played a very important role in helping us get into a huge national debt? This paper will discuss how Milton Friedman played a negative
role in our economy. When the Great Depression hit worldwide, it was up to the economists to explain it and to devise a ... Show more content on
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In seven short years, under the Keynesian policy, the U.S. went from the greatest depression it has ever known to the greatest economic boom it has
ever known. The success of Keynesian economics was so astounding that almost all capitalist governments around the world started using it. And the
result was the extinction of the economic depression! Before World War II, eight U.S. recessions worsened into depressions (1807, 1837, 1873, 1882,
1893, 1920, 1933, and 1937). Since World War II, under Keynesian policies, there have been nine recessions (1945–46, 1949, 1954, 1956, 1960–61,
1970, 1973–75, 1980–83, 1990–92
), but not one has turned into a depression. The success of Keynesian economics was such that even Richard Nixon once said, "We are all
Keynesians now(Keynes,
289)."
Well, that was the theory the governments were using at the time to control the economy. Obviously there were some people who objected against use
of this theory. One of them was Milton Friedman.
He believed that the only function the government should be allowed is to control the circulation of cash. Although he accepted Keynes' definition of
recessions, he rejected the cure. He believed that the government should butt out of the business of expanding or contracting the money supply. It
should keep the money supply steady, expanding it slightly each year only to allow for the growth of the economy and a few other
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Critique Of John Maynard Keynes's Theory Of Demand For Money
CRITIQUE OF KEYNES THEORY OF DEMAND FOR MONEY.
Demand is the amount of goods and services that consumers are willing and able to buy at a particular price and place. It is the desire to purchase
goods and services. Money is anything that is generally accepted as a means of payment for goods and services in a particular place. Several theories
have been derived concerning the demand for money. Some of the economists that have postulated theories concerning demand for money includes:
Irving Fisher, the Cambridge cash balance approach (put forward by Pigou and Marshall), Keynes theory,Milton Friedman's theory and so on. But this
deals with the critique on the theory of demand for money by Keynes. Before one knows the critique to a theory, the theory needs to be understood
itself. John Maynard Keynes wrote a book titled, The General Theory of employment, interest and money and here he gave in detail theory of demand
for money. The theory postulated by Keynes is basically an extended version of the Cambridge Cash Balance approach. According to him, the demand
for money is not the actual money balances held by people but what amount of money balances they want to hold. He believed people were not
suffering from money illusion. Keynes said the demand for money depends on three motives. These are: transactions, precautionary and speculative
motives.
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It takes a while before asset or stock can be converted into liquid cash. This makes people hold liquid cash so that they are relieved from that stress
and also ensuring that money is readily available.
Precautionary Motive: This is the demand for money for unforeseen situations and events. An example of an unforeseen situation is an accident or an
opportunity to invest in financial assets. Some people hold money to meet up with emergencies that may occur while carrying out certain
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The Brilliance of Conservative Economist Milton Friedman...
Before the introduction of Keynesian economics and Milton Friedman's Monetarism theory, there was classical economics. These economists believed
in self–adjusting market mechanisms, however with that the market needs perfect competition. Wages and prices in the market must be flexible. These
economists believe that supply and demand pulls would always help the economy reach full employment. Full employment could be achieved by the
market forces and with that changes the level of employment resulting in a fixed income and aggregate output. They believed that fixed income was a
result of full employment and the price level was established by the supply of money in the economy. Since classical economist believed that it was the
market that... Show more content on Helpwriting.net ...
The United States learned the hard way that the market was not self–adjusting enough to bring back full employment on its own. In the early 1930's the
unemployment levels were at an all time high of 24.9 percent. (See figure 1) When the wages fell as they were assumed to do; the lower wages did
not return the market back to full employment levels. These major flaws in the past economic theories lead to the new ideas. Economist John Keynes
explained that classical economics stated that wages and prices are very flexible; when in actuality they weren't as flexible as previously assumed.
Keynes argued that the market is self–adjusting, however it has a long time before it actually made its way back on the rise. "In the long run we are
all dead" was quoted from Keynes. Keynes believed that it was the aggregate demand for goods in the economy that determined the level of
employment and the level of output.
"The core requirement for an economic boom is demand because demand for products and services drives producers to create more. This demand
for products then creates demand for the workers in order to make these products or services. Inversely, if there is no demand for certain products or
services then there is no need for extra hiring or to keep the same number of employees because the demand for the products wasn't enough to cause a
need for workers." (Roberts, 2010) Because of these factors, the market cannot ensure
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Milton Friedman Research Paper
Economy is determined by the worth and prosperity of the land. It is recognized all over the world by the welfare of people, and is arguably, one of
the most critical subjects a government can control. One person who understands this better than anyone is Author and Nobel Prize winner Milton
Friedman. He was born in Brooklyn, New York on July 31st, 1912 to two lower class Jewish immigrants (Nobel). With his free market approach to
economy, he made influential arguments that inflation or government regulations could have caused or worsened the Great Depression (Milton 2008).
He also argued with Keynesian theorists that economic success does not involve government intervention, but rather, it comes from the markets which
can eventually help the ... Show more content on Helpwriting.net ...
In his book, Capitalism and Freedom, he supported many different policies, one of which is most famously recognized as the end of the military draft
in 1970 (Nobel). Although he wasn't the sole contributor to introducing the volunteer military system, he was a big influence when he was an advisor
to President Nixon (Bucci). Milton Friedman was very smart with his words and proved to be effective at arguing with a general who was in favor of
the draft. After a successful argument over whether having a military draft was effective or not, Milton Friedman convinced the Secretary of Defense
to be in favor of a volunteer military (Bucci). According to an article about Milton Friedman and his contributions to the volunteer military system, he
thought that "The all–volunteer force is more representative of the American people than the draft ever was" (Bucci). The popular decision from the
people showed that most Americans were against the draft and this perspective from Milton Friedman revealed that he cares about the welfare of the
people despite his insensitive approach to economy. Another important policy he mentions in the book was about monetarism and how the central bank
should regulate money. He believed that the government should be limited on how much they can influence the money system because he believed
that government inflation was the cause of
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What Do the Representations of Cleopatra in Film and on...
Part 1
What do the representations of Cleopatra in film and on television (as shown on the DVD video 'Cleopatra') tell us about how her reputation changed
over time? Discuss with reference to two or three representations.
The name Cleopatra invokes a striking image in your mind. The Egyptian queen who took on the might of Rome. The way we see Cleopatra's
character changes in the way she has been depicted in movies and television across the years. With each different portrayal she reflects contemporary
issues regarding society, the role of women and the historical knowledge available.
The three representations of Cleopatra I will be looking at are the films from 1917 staring Theda Bara and 1963 starring Elizabeth Taylor and the ...
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Her skin is darker and her hair is shorter and covered in various head dresses. In character she is shrews and calculating and unafraid and skilled at
using a weapon. This reflects how society has changed and how the role of women has change over the years. Women are seen as more able equal in
skill and ability to men. It also showed the difference in knowledge of ancient Egypt; still seen as luxurious the alliance was needed by Rome for
strategic reasons.
Whilst all three depictions of Cleopatra show opulence, luxury and a sexually proactive and powerful stateswoman. It is how perception of these roles
has changed over the years which cultivate the reputation of Cleopatra. From a sexually dominant woman as bad and threatening thing to a shrewd
leader unafraid to use all weapons at her disposal to ensure the strength of her nation and the continuation of her bloodline.
504 words
Part 2
Read the following passage from Marlowe's Doctor Faustus. Discuss how the passage contributes to the portrayal of Faustus as a
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Labontes Model Of Health And Wellbeing
Sharon Calderwood
PI G239534X
TMA 03
Q1
How can where you live influence your health and wellbeing?
In this assignment I will attempt to explain how a persons health and wellbeing can be both negatively and positively impacted on depending on where
they live.
UK society is distinguished by health inequalities, they are the unfair and avoidable differences in peoples health across social groups and different
population groups due to social, biological and geographical factors which usually result in people who are worse of financially encountering poor
health and shorter lifespans.
According to Labontes Model of health and wellbeing (p53 health and wellbeing in neighbourhood) we are shown how health can be broken down into
three main factors, physical, mental and social and each area overlaps to make complete health.
There are many examples how the neighbourhood you live in can affect your health and wellbeing. To maintain good physical. Social andmental health
we need the following resources. Good transportation route to local hospitals, nearby parks and walking trails, health shops, more education and
employment opportunities, appropriate housing, more spaces for people to recreate and relax in like cafes and public plazas, local gyms, outdoor
activities and better sewage and drainage. Alternately the things that have a negative effect on our physical, social and mental wellbeing would be
poverty, people that are financially worse off tend to live in deprived
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Milton Friedman Essay
Milton Friedman
Milton Friedman has been credited with many different achievements, including being one of the most effective advocates of economic freedoms and
free enterprise, being the greatest economist to ever walk the face of the earth, and proving every single word that Lord Maynard Keynes ever said to
be wrong. Why these may or may not all be true, it is obvious that Friedman was a brilliant man of many accomplishments.
Milton Friedman was born on July 15th, 1912 in New York City. His parents were poor immigrants and his father died when he was a senior in high
school. Despite all of these obstacles he had to overcome, Friedman received a scholarship to Rutgers University and got his B.A., an M.A. in 1933
from the ... Show more content on Helpwriting.net ...
He is a past president of the American Economic Association, the Western Economic Association, and the Mont Pelerin Society and is a member of
the American Philosophical Society and the National Academy of Sciences. Friedman was awarded with many honorary degrees by universities in
the United States, Japan, Israel, and Guatemala, as well as the Grand Cordon of the First Class Order of the Sacred Treasure by the Japanese
government in 1986. He is known as the leader of the Chicago School of monetary economics.
Milton Friedman is the author of many books and two public television series that he did with his wife Rose: Free to Choose(1980) and Tyranny of
the Status Quo(1984). His most important books include Free to Choose and Tyranny of the Status Quo( both of which compliment the TV series),
Capitalism and Freedom(1962 with Rose D. Friedman); and Bright Promises, Dismal Performance (1983), which consists mostly of reprints of
tri–weekly columns that he wrote for Newsweek from 1966 to 1983. Also, A Theory of the Consumption Function(1957) and A Monetary History of
the U.S.(1963 with A.J. Schwartz).
Milton Friedman has a primary belief in the tenet of limited government. He describes himself as classic liberalism. Today's liberalism views are very
opposite to Friedman's, and therefore he is often considered a Republican Libertarian, as
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Milton Friedman And Milton Keynes
There have been different views from John Maynard Keynes, Milton Friedman and central banks when it comes to inflation. However, what both John
Maynard Keynes and Milton Friedman can agree on is the fact that inflation is seen to be a great evil. Moreover, the central banks interpret inflation as
moderate being the fact that some inflation is seen to them as tolerable. Historically, Friedman and Keynes have had disputes on a better system for
the control of inflation. For instance, Friedman put forward the monetary policy for the government to use in order to keep interest rates to stabilize
an economy, whereas Keynes believed the government should be in control of inflation by the amount of spending produced between goods and
services. Central banks have viewed both reasoning's to Keynes and Friedman's theories and decided the monetary policy is the best route for an
economy to take. A great example of this can be illustrated in Canada with inflation rates only being kept between 1 and 3 percent. The other factors
that central banks might have to deal with in other countries would be the change in political views and how much power the government has over
central banks to control cash flow throughout their respective countries. The central banks must also avoid dealing with poor decisions made by
government leaders which could affect the economy tremendously. In many underdeveloped countries, there have been a lot struggles even until
present day where government leaders
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National Medal Of Science: Milton Friedman
Milton Friedman, Wikipedia). Also, Professor Friedman was awarded the Presidential Medal of Freedom in 1988 and received the National Medal of
Science the same year. One of Milton Friedman's first great contributions in the economics world was his Theory of the Consumption Function in 1957.
"This theory championed the idea that a person's consumption and savings decisions are more greatly impacted by permanent changes to income rather
than changes to income that are perceived as ephemeral" (Who was Milton Friedman, Investopedia). Instead, Friedman presented that people's annual
consumption is a function of their permanent income, a term he announced as a measure of the average income people expect over a few years. While
Friedman was a Professor,
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Insight From Theory And History
Essay 1
Insights from Theory and History
When referring to the subject of International Political Economy the main focus of study in this field looks at analyzing and finding reasons for the
problems that arise or are affected from the interaction of international political decision, international economics, international trade, as well as
different social systems and societal groups. Over the course and development of these systems prominent figures of economic theory and government
interaction have emerged throughout the years. Two of the most influential theorist that have come to the fore front have been John Maynard Keyes,
with his theory of Keynesian economics and Milton Friedman with his idea of monetarism. While both economists have had major influence on
modern day economic policies, both theorist have contradicting ideas, this paper will aim to take a look at both Keynes and Friedman's theories
respectively and look at the application of these theories in the real world.
John Maynard Keynes theory of economics rose to prominence following the Wall Street stock market crash of 1929. This crash resulted in a major
economic plummet, astonishing rise in unemployment, business closures, and a decline in tax revenues. Due to the occurrence of these events the
American government turned to borrowing money from other countries. In addition to borrowing money in an effort to slow the recession, the
government used strategies of classical economic theory proposed by Adam
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Comparing The Philosophies Of Keynes And Hayek
Chorus:
Which way should we chose? More bottom–up or more top–down?
The fight continues. Keynes and Hayek, Second Round
It's time to weigh in. More from the top or from the ground?
Let's listen to the greats, Keynes and Hayek throwin' down
Bottom–up is referring to Hayek's view, which is more laissez–faire. Laissez–faire is a system or point of view that opposes regulation or interference
by the government in economic affairs. Top–down is referring to Keynes's view, which is more dealing with the government taking control over the
economy. John Maynard Keynes and Friedrich August Hayek were two well known economists of the Great Depression era with strongly opposing
views. In the chorus the Chairmen Ref is asking the audience to listen to ... Show more content on Helpwriting.net ...
Keynes believes that the government has a positive effect on the economic growth and the quality of services. In recessions, businesses and people
tend to spend less money. He was against this idea and suggested that "it's spending that matters" because lower spending results in demand falling
and job losses. Keynes's solution to the problem was for the government to play an active role in the economy. If the government plays an active role
in the economy, the economy will bloom and progres to its full potential. He believes that the government should stimulate economic growth by
increasing demand through increased credit and public spending. Keynes is embracing liberal views such as economic freedom for the people to an
extent in which it boosts the economy as he believes it's the key factor that allows the economy to reach its full potential with government intervention.
Keynes disagreed and strongly opposed Milton Friedman's ideas. Friedman suggested the monetary policy, controlling the money supply, can help out
the economy throughout recession. On the other side, Keynes suggested that monetary policies play a very little role in stimulating the economy and
aggregate demand. He disagreed with Milton Friedman's ideas as he believed the government should encourage spending and discourage
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Difference Between Classical And Keynesian Economics
Parts of economic theories seem to constantly change because there is no perfect economy; however, there are two categories in which most
economists fall under: Classical and Keynesian. Classical economists follow the theory described in Adam Smith's Wealth of Nations regarding a
Laissez–Faire policy with no government intervention. People who are considered to follow the Keynesian economic theory generally favor
government intervention in the economy during recessions in the business cycle (Colander p. 524). Three well known economists fall into these
categories: Milton Friedman and Friedrich von Hayek were considered to be classical economists, while John Maynard Keynes, developed the
Keynesian theory. Friedman was a firm believer in capitalism and that the market's guiding hand would help to regulate the economy. According to the
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Similar to Friedman, he promoted a Laissez–Faire style economy and figured that government intervention during recessions would only make
problems worse (Encyclopedia of World Biography 222). He also believed that the more regulations the government had on the economy, the less
freedom consumers had when making a purchase (223). During the Cold War, many economists though the Soviet Union's economy would grow at
such a high rate that it would be larger than the United States' economy; however, Hayek found holes in these arguments and did not think this was
true. According to economist David Peterson, Hayek's argument was, "...prices that efficiently allocate resources cannot be set by government fiat.
When an economy lacks the daily input of the individual decisions of millions of consumers...the result is colossal waste and inefficiency (86). This
contributes to Hayek's free enterprise view on the economy, that it should be consumers who determine the prices of goods based on their demand, not
the
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Personal Experience With Alzheimer's Disease
What is a good person? Quora's definition of A good person is: Not a selfish person, but someone who thinks about the needs and comfort of another
person as much as they think about their own. Someone who stands by you in difficult times. I agree with all of that. From my own experience, I'd
add, someone who remembers what IS important to you and what WAS important to you, touches base with you regularly, accepts you for who you
are and respects your human dignity. I am going to talk about my experiences with Alzheimer's Disease and how it made me a better person. And how
profoundly this deadly disease impacted my life.
What is Alzheimer's Disease? The Alzheimer's Foundation of America defines it as "A progressive, degenerative disorder... Show more content on
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I couldn't figure out what part she played in my life. She couldn't remember my name when I was about eight. I wondered why. From what I know or
was told, my grandmother was a little unusual for her time. Born in the 1920's, she was the first in her family to get her bachelors and masters degrees,
which was pretty impressive for a woman born in the 1920's. She had a beautiful singing voice and was a member of AFTRA, did radio shows for
KDKA in Pittsburgh, Pennsylvania then became a speech pathologist and worked with children in the Milton Public School for most of her adult life.
She was involved in church choirs and musical theatre and met my grandfather performing in Cohasset Summer Stock shows which were popular in
the 1940s. She and my grandfather got married after he returned home from the war, settled in Milton where they raised two children, my mom and my
uncle, sent them to Milton Academy, then to Harvard University and Wellesley College. They retired comfortably in their East Milton home, went to
Fort Lauderdale, Florida semi–annually and did what a lot of retirees do... watched their health deteriorate. My grandfather bought an ice cream truck
business and a segway when he was in his 70's but that's a talk for a different
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The Impact Of Neoclassical Economics On The Economy Essay
Neoclassical Economics is an attempt to restore some of the principles that Adam Smith, a pioneer for capitalist markets, advocated for in his Classical
Economic theory. Smith suggested that minimal intervention should be required regarding government policy as the laws of supply and demand will
be self–correcting. John Maynard Keynes was an important figure that worked to apply fiscal policy that would remedy an economic depression.
Keynes's idea of fiscal policy is the means by which government adjusts its spending levels and tax rates to monitor and influence the economy.
Further, Keynes is known as the father of "Mixed Economy", in which both the private sector (households and privately owned businesses) and public
sector (government) have an active and important role in the economy. He argued that in a capitalist economy, the government would have a direct
response to where in a business cycle the economy was at any particular time–Borrow to spend in a Recession or Bust, and spend only to the level of
revenue collected during a period of growth or Booms. Milton Friedman, an American economist, believed strongly in a neoclassical, one–directional
approach to monetary policy, where the Federal Reserve should limit monetary policy to increasing M1 (primary money supply) at a consistent rate,
slightly higher than the birth rate, in order to keep economic growth at effective levels. Moreover, he believed the federal government should tax
minimally in order to
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Dissertation Proposal
Introduction
Development of an individual economy passes through different economic phases. Sometimes it is booming and sometimes it suffers from recession.
This phenomenon can be viewed as projection of consumption and investment strategies of the individuals and the government of the country. Interest
rate, being a major factor of economics, plays a great role in economic activities carried out by nation and the nationalities. A change in interest rates
may affect other factors of the economy. For instance, investment strategies of the investors, consumption strategies of the individuals, foreign
exchange, imports, exports etc. are affected by the interest rates. An increase in interest rates may decrease the investment, decrease the ... Show more
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Individuals spend more today when they expectation to earn more in future for a longer time. This means individuals' consumption pattern is
determined by their permanent income not by their current income and the permanent income is determined by the permanent asset. Robert Hall
(1978), 'Random walk model of consumption' explains that the consumption is unpredictable since it only changes when there is surprising news about
the income.
GDP, an indicator of prosperity of the economy, is also determined by the imports and exports. Imports and exports are influenced by the exchange rates
and the interest rate causes fluctuation in the exchange rates. When the exchange rate appreciates or depreciates, the relative prices of imports and
exports change; biz/ed (n.d.). This means interest rate has a significant influence in the imports and exports.
Methodology:
There are several factors that limit for the exhaustive data collection as required for the quantitative analysis. However, this research will be based on
the analysis of secondary data on the basis of relevant theoretical support. In this respect the aim of the dissertation will be addressed through desk
research.
The desk research will begin with text books related to the macroeconomics and financial management and the statistics to identify the related theories.
In addition, articles in
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John Milton Keynes Vs John Maynard Keynes
Friedman vs Keynes
Within this informative essay there is information based on two economist. The two economists mentioned would be John Maynard Keynes and Milton
Friedman. Topics that would be mentioned would be about Keynesian economics and monetarism and the differences between the two. Within the
paragraph the information is taken from electronic sources. The purpose of this informative essay is to mention the differences and similarities between
the two economists. John Maynard Keynes and his achievements during his life
John Maynard Keynes was an economist born on June 5th 1883 in Cambridge, England(John Maynard Keynes 1883–1946, 2008, para. 1 and 5). In the
1920's Keynes was a believer in theory of money known which is today called ... Show more content on Helpwriting.net ...
These macroeconomic theories impact the way lawmakers create fiscal and monetary policies. Keynesian economists believe that a troubled
economy continues in a downward spiral unless something is done to drive consumers to buy more goods and services which would cause the
value of money to retain the same or to be of higher value.Monetarists believe in the control of the supply of money in the economy and allow the
rest of the market to fix itself hopefully leading towards the same as what Keynesian Economist hope to achieve. The only differences would be
which view is more reliable and on what cases would both need to be used or would a specific one need to be
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A Discussion Of Keynesian Economics
One type of economic belief is called Keynesian economics. This belief or theory is in favor of total spending in the economy. It also agrees with
total spending output and inflation, prices of goods rising consistently. This form of economics was developed in the 1930's by a economist, John
Maynard Keynes, in hopes of gaining a better understanding of the Great Depression. Keynes was for more government spending and lower taxes that
would possibly pull the U.S. out of the depression. Basically, this gave hope that America's government could get out of its low production time by
stabilizing goods. Before the idea of Keynesian economics, people believed that the fluctuations in the output of manufactures would handle itself. The
flaw in this ... Show more content on Helpwriting.net ...
Before the depression when economics was at a low they would soon rise again in fluctuation. The depression put an end t this because there was
such a shortage of jobs. This made Keynes start to think about how to help people and handle economy in a real crisis. The thought that life as
people knew it was never going to return causing a "boom and bust" system. Keynes' suggestion about this was that when the government was going
good they should raise taxes and spend less money, and when they were in a bust they should lower taxes to retain money to the people. Keynes did
not just expect the government to cycle money, but for the people to as well. He thought that unless you were putting money back for the future that
you should keep your money cycling in the economic system. One of the biggest factors that had a part in Keynes' style of economics was something
called multiplier effect (which is essentially banks making money from lending money). He was strong in the belief that if the government spent and
invested, then they would make more money. If people were willing to spend their money as well then, the PD would eventually begin to
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Milton Keynes Research Paper
Milton Keynes
Meta: Milton Keynes in Buckinghamshire County, England has many activities to enjoy with your exclusive Milton Keynes Escort – Stephanie.
Milton Keynes
Milton Keynes is the fastest growing city in the UK, outside of London, and the premier place for many fun activities that are not found in other
Buckinghamshire towns. This area was the site of early human settlements and now has many grand sculptures representing this deep history along
with Art Deco architecture and over 300 roundabouts. There many shops, stores, markets, and restaurants inMilton Keynes, and you will learn which
are best to bring an Exclusive Companion Milton Keynes.
The Stables Theatre – This is your go–to performing arts theatre in Wavendon for concerts... Show more content on Helpwriting.net ...
There are balconies providing breathtaking views of the city and a roof garden to snuggle up during those intimate times with a Buckinghamshire
Companion. A private security system with video entry comes equipped in each room, so you know exactly who is coming to see you– which would
be me. Most rooms have satellite TVs with DVD players and iPod docking stations. Extra large living room spaces have wooden flooring that have
underfloor heating and a 24–hour concierge and maid service is available, giving you that 'home away from home' feeling.
South Lodge Boutique B&B Milton Keynes – This five–star hotel has immaculate bedrooms with free WIFI, king sized beds, tea coffee–making
facilities, and smart TVs. The en suite bathrooms have walk–in showers with luxury REN toiletries to bathe in. A vast complimentary hot breakfast
comes with many delectable treats and each room have a private patio with the best views of the landscaped gardens surrounding a nice, soothing
pond. Many people enjoy this eco–friendly tranquil hotel a lot when they want to get away from those other engaged UK
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Essay On Demand Of Money
Expected Cost =iM+ПЃ(M,Пѓ)q. [6]
The optimal number of withdrawals for precautionary purposes is achieved when the marginal benefit from the increased liquidity is equal to the
marginal cost of an individual. Evidently, the optimal amount of precautionary balance will be linked to the rate of interest because of the relationship
between the marginal cost of withdrawal and interest forgone, i, as shown in the Figure 2 . Ultimately the link is established by the suggestion that
lowered precautionary demand for money is as a result a higher rate of interest and greater marginal cost of the withdrawal. This model still does not
factor in wealth as motive for the demand of money.
The underlying ... Show more content on Helpwriting.net ...
Accordingly, the expected selling price is dependent on the expected interest rate, that is p_e^B=AвЃ„i_e . Consequently, the expected capital gain or
loss, G, is potentially
G=((p_e^B–p^B)/p^B )= (A/i_e –A/i)/(A/i)= A/i_e .i/A–1=i/i_e –1. [7] The total earnings on a bond, characterized by E, will be the interest rate at the
time of purchase plus the capital gain (or less the capital loss) in the form of
E=i+G. [8]
At this point the explicit demand for money balances can be derived. Additionally, this is illustrated by the set of diagrams in Figure {1}. In which
interest rate, i_1, equilibrium is at point E1. Whilst at the lower interest rate, i_2, equilibrium is E2, where the demand for money rises from M1 to
M2. The speculative demand for money can be derived, a downward sloping curve, showing an inverse relationship between money balances and the
various rates of interest illustrated below:
Figure {1}: The Demand for Money
The conclusion to be drawn is that all the three motives for demanding money demonstrate positive relationship to real income and inversely linked to
the rate of interest. The equation that utilises this notion is as follows:
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Codeswitching from English Essays
The use of codeswitching between English and other languages is examined from a sociolinguistic perspective. It will be shown that codeswitching is
instinctive and achieves overarching objectives such as serving the outcome of speech, defining identity and indirectly delineating aspects of the
relationship between the participants, it 'lubricates' the conversation by making it more 'fluid', and when English is used, brings clarity and precision,
particularly to formal arrangements. Finally codeswitching from English as a component of 'metrolinguistics' will be considered in relation to the data
provided.
The extracts are between G. D. Jayalakshmi, known as Jaya, who normally speaks English (but also Kannada, a south Indian language, ... Show more
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266), in which language choice signals identity 'projection'. This assertion might be challenged on the grounds of the need for a spontaneous response
in a telephone call, giving insufficient time for a 'considered' language choice.
The second extract, between Jaya and Prathiba is conducted almost entirely in Kannada, as they have known each other for many years, and have a
much closer working relationship. However the English words 'paperwork' and 'legal clarification' are used in 2.5, which is otherwise spoken in
Kannada. These are 'loanwords' and fill a vocabulary gap (Ibid. p. 264), for as Jaya says in her commentary 'I don't even know what the Kannada
equivalent is', she refers to them as 'work words' that are automatically 'embedded' into Kannada. Another example of embedding can be found at 4.9
where 'sixth' is used in a sentence spoken in Kannada, as Jaya comments 'we often embed English numbers into Kannada'.
At the beginning of excerpt 3 Jaya chooses to use Hindi rather than English, with her brother, who is on holiday visiting their father in India. Hindi was
the language of their childhood in north India and this allows her to be more personal and rebuke him over her difficulty in reaching him on the
telephone, so using Hindi in 3.1 she says 'and then I spoke to the entire world'. This use demonstrates an aspect of 'stable bilingualism' (Ibid. p. 294) in
a multilingual family, in this context it can be called 'language maintenance' (Ibid.) and it is
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Globalization And Globalisation
Choose an example from block 1 of how individuals are influenced. Which has a bigger influence on individuals: globalisation or your chosen
example from block 1 ?
Globalisation and immigration a socio–political imbalance.
In this essay we are going to look at globalisation and immigration with the aim to see which has the biggest impact on individuals. We shall examine
what globalisation is and what effects it has on trade, government and people. We will also look at immigration, the push and pull factors and what
immigration means to individuals depending on which part of the world they are leaving behind. We will look at an illegal immigrants perspective in
contrast to someone who is already a citizen.
'Globalisation refers to the apparently increasing exchange of goods, raw material, information, people and money between parts of the world that have
been geographically and culturally separated until now'. (The Open University, 2013, Block 4 , p13). Advancements in transportation and
communication technology have created a a global market for consumers anywhere in the world. Whether it be through an internet connection at home
or a superstore in the high street selling produce from groceries, clothing and electrical, people can now purchase goods from any country in the world
who participate in the free market.
Immigration is the intent of an individual and/or their family to leave their country of origin to set up home in a different nation because their
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Chartism Essay example
Task 1
What evidence is there in the extract above of the three explanations for Chartism's support that you have learned about in Block 2, Unit 2. Making
sense of history, and which if any, is stressed most strongly by the speaker?
Part 1
In no more than 200 words, write a plan for the essay
Plan
Introduction 1) Explain the background and context of the extract. 2) Discuss the evidence for the Chartism's support in terms of economic pressure,
national political movement and inclusive cultural community. 3) The essay will explore how the three factors were important in the speech for gaining
support for Chartism and which proved to be the more dominant factor.
Economic Pressure 1) At the time of Chartism, ... Show more content on Helpwriting.net ...
The essay will conclude by revealing through the use of evidence which was the dominant factor in the speech in gaining support
Economic Pressure was used in the speech regularly to show the large division between the rich and the poor. The speaker refers to 'the rich
unnaturally elevated', 'weight of taxation, misrule and oppression'. 'Destitution in horrid form stalks through street, lane and thourghfare' 'emaciated
frames'. The terminology reflects on the economic pressures that the poor endured, high tax and poor working conditions that often led to illness and
death. He emphasised how the richer of the society, the aristocracy, were 'in exclusive possession of power'. This speech would have stirred the
emotions of the crowds as they heard how hard their lives were to those belonging to the upper classes. The speaker creates horrid, desperate images
of the poorer classes 'insufferable despair,' toll of the death–bell' to highlight how hard their lives were. (Briggs, 1959, P.50) a secondary source
reflected how Chartism 'seems to have been strongest in the two kinds of places... centres of decaying or contracting industry' and 'new or expanding
single industry towns'. Briggs 's writing shows that Chartism was prominent in only certain areas such as those of industry. Whereas, 'almost
non–existent in completely agricultural villages'.
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Milton Friedman And John Keynes Are Two World Renowned
Milton Friedman and John Keynes are two world renowned economist, with many similar and contrasting views that have helped set the foundation of
our economy. Friedman 's ideology on subjects such as the Monetary Policy, Gold Standard, and the Theory of the consumption function are what
made him a extremely impactful economist. Keynes has made his impact on the modern day world as well in many aspects. Both of these economists
have helped pave the way to a better, more efficient economy. Monetary Policy is the procedure by which the financial expert of a nation, similar to
the national bank or cash board, controls the supply of money. Regularly focusing on a inflation rate or interest rate to guarantee value solidness and
general trust in... Show more content on Helpwriting.net ...
The expression "Keynesian economics" was utilized to allude to the idea that ideal monetary execution could be accomplished and financial droops
avoided by affecting total request through dissident adjustment and financial mediation approaches by the administration. Keynesian financial
matters is thought to be a "demand side" hypothesis that spotlights on changes in the economy over the short run. Basically Keynesian economics
are the different theories about how in the short run, and particularly during the recessions, monetary output is strongly impacted by total request
(total spending in the economy). The Gold Standard was the framework by which the value of cash was characterized in terms of gold, for which
the money could be traded. The Gold Standard ended up being deserted in the Depression of the 1930s. Friedman felt that,"The gold standard is not
feasible because the mythology and beliefs required to make it effective do not exist. This conclusion is supported not only by the general historical
evidence referred to but also by the specific experience of the United States" ( "The Gold Standard:Please Stop").Economists who contradict the Gold
Standard may perceive what must be accomplished with a specific end goal to make a centrally controlled paper standard better than a decentralized
Gold Standard. Milton Friedman poses the key question: "How can we establish a monetary system that is stable, free from irresponsible tinkering, and
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Von Hayek's The Road To Serfdom
Friedrich August von Hayek was born in Vienna, Austria in 1899 to a notable family. At the age of 19, Hayek started to attend the University of
Vienna. While attending there, he received doctorates in law (1921) and political science (1923). During that time, Vienna was one of the top three
universities for studying economics. Hayek went to college right after World War I, when Vienna was in poor conditions. Hayek hoped to better
improve the social conditions in Vienna. During his time in Vienna, Hayek attended Mises's private seminars, Privatseminar.
Hayek became the director of the Austrian Institute for Business Cycle Research in 1927. In the 1930's, Hayek was part of the first group to leave
Vienna. Hayek went to join the faculty at the ... Show more content on Helpwriting.net ...
His work on industrial fluctuations has had an impact on the business cycle theorists. Margaret Thatcher was influenced by Hayek's The Road to
Serfdom. After reading Hayek's book, "she absorbed deeply Hayek's idea that you cannot compromise with socialism" and realized that "her own party
had done just that." ("Thatcher, Hayek & Friedman."). She was a devout politician against socialism. Hayek influenced many, including but not limited
to Winston Churchill, Milton Friedman, Robert Nozick, George Orwell, Karl Popper, Virginia Postrel, Ronald Reagan, Julian Simon, Hernando de
Soto, and Thomas Sowell" ("Friedrich Hayek."). He helped to set the groundwork for economists and politicians to understands the basics needed for a
free
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Milton Friedman Vs. Monetarism
Milton Friedman and Monetarism
Tomas M. Kuhn
Robert Morris University
Milton Friedman and Monetarism
In politics, our nation is divided into many different parties. Each party has their own stance on how things ought to be and what changes need to be
made in order to have society function they way they'd like. Macroeconomics also can be viewed as divided. Instead of being divided into parties,
economists are separated by different schools of thought. There's many schools of thought because macroeconomics is such a complex matter. When
there's problems in the economy answers can be found in a plethora of places, because there's so many moving parts. These moving parts of the
economy are what economists use to make sense of everything. When people view some parts more important than others or find different solutions,
different schools of thought become apparent. One of these schools of thought come from the writings of economists Anna Schwartz, Karl Brunner,
Allan Meltzer, and most notably Milton Friedman. The school of thought became known as Monetarism, which focused on the macroeconomic effect of
a nation's money supply and its central banking institution (Mccallum). We will be focusing on Friedman and the contributions he made to
monetarism, which includes his quantity theory of money.
Milton Friedman was the Professor of Economics at the University of Chicago for thirty years up until 1976. He is credited for the formulation of the
Monetarism school of
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Environmental Impact On Environmental Effects On 280...
After using this approach, some criteria for mitigation activities of mitigation banks are issued. It promoted the "watershed approach" which required
landscape level plans and ecological strategic decisions about compensation. Then, it emphasized on wetland functions and values, and created the
online database of mitigation projects.
US wetlands compensation system highlights on qualifying potential bankers which will meet the biodiversity offsets goals. This system proved that
banking will provide more offset credits. Through this approach, U.S. has a great experience of biodiversity offsets.
The third representative biodiversity offset mechanism case is a Canada based project, Bruce to Milton Biodiversity Initiative by Hydro One ... Show
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Moreover, as a result of cooperation with these groups, Hydro One chose to financially support 23 locally–designed projects that are proposed by 13
different groups for better improving the local area. The offset project works through quantifying the relevant habitat loss due to the reinforcement
construction and the relevant habitat gain by the offset. Because of the trans–regional property of the line construction, the quantifications are used
independently in very watershed traversed for achieving the no net habitat loss in each local watershed area. Moreover, besides the sole quantification
of habitat changes, the social factors also have been taken into the consideration of habitat loss and gain assessment. The social factors include the
related changes in local educational opportunities, First Nations participation opportunities, local entertainment utility. Consequently, Hydro One not
only met the requirement of no net loss, but also made a net gain to habitat via this offset project.
There are more detailed points of Hydro one project that are worth to mention.
The cost is another essential factor in consideration of project application. Hydro one costed 16 million dollar for the total environment expenditure
which includes fixed and variable cost, because cost structure indicates the types and relative proportions of fixed and variable costs that a business
expends. Fixed costs remain the same despite that the amount of goods
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Defining Goffman's Total Institution Essay
To examine how far Lennox castle hospital was an example of what Goffman called a 'Total Institution' I will first need to explore Goffman's
definition of this, along with the four factors that he identified as characteristics of a 'Total institution' I will then go on to discuss how these four
factors fit with Lennox castle hospital and determine whether or not it fell into Goffman's model of a 'Total Institution.'
In order to discuss how Goffman's four factors fit with Lennox castle hospital I will first examine his definition. In 1961 Goffman stated that a 'total
institution' "is a place of residence and work where a large number of like–situated individuals, cut off from the wider society for an appreciable period
of time, together ... Show more content on Helpwriting.net ...
Binary management, when staff and residents are kept separate by two different sets of rules; staff member's felt superior to residents and maintain a
social distance between them allowing staff to feel empowered.
The inmate role, all residents are discouraged from keeping links to their former roles; they lose their personal identity and are given an identity that the
institution has chosen for them.
The institutional perspective in time a resident may come to accept their loss of self identity; everyday life revolves around the institution rather than
centring on the people in it.
(k101, Unit 7, p 107) and (Jones and Fowles,
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Jersualem by William Blake Essay
Jersualem by William Blake Of the true masterpieces in the English language, one of the most metaphysically challenging and eternally relevant is
William Blake's Jerusalem. It took Blake four thousand lines etched onto one hundred plates to put his reinterpretation of the prophetic books of the
Bible into an English context. The poem shows not only Blake's new understanding of the Old Testament gained from his recent learning of the
Hebrew language, but his freedom from the Miltonic tradition. In the preface to Jerusalem Blake writes that it is a, "more consolidated & extended
Work,(Keynes,620)" than he has tried before. The primary reason for his ability to begin such an undertaking when he did in 1804, is from the
liberating release... Show more content on Helpwriting.net ...
"Awake! awake O sleeper of the land of shadows, wake! expand!(4:6 )" Here is the initial call, the call to Albion, which is Israel, that has been
superimposed on England. For as we see later, "All is Eternal Death unless you can weave a chaste/ Body over an unchaste Mind!(21:11)" He needs
England to feel the way he feels, to see not just the trees in the forest but the color of each of those trees, and which have sparrows living in them. For
Blake, life is Eternal Death, and only in the imagination can there be refuge. Thus the first contradiction appears; the idea that one must awaken not the
physical self, but the Los within. Awake, but on the inside, keep your temporal self asleep– it does too much damage when arisen. For no immortal
hand or eye can weave a chaste body over any mind. An image forms here of Blake resting his hands ever so on gently the English people to begin to
sense their new directions. Herein lies the portal through which he traveled in order to exit the long Miltonic shadow– the England Blake was moved to
prophesize to was not Milton's. The factories had changed that. And though man is ever unchanged, it is democratization and technology that drag the
cart of history. Blake saw then most clearly that he was not Milton, nor should he try to be. His England, his Albion was starving for something vastly
different than Milton's England was. Enter now into Jerusalem's second chapter,
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Essay on Ancient Rome and Cleopatra
Cleopatra Read the following passage carefully at least twice. What does it tell us about Plutarch's view of the relationship between Antony and
Cleopatra? For Plutarch peoples actions, however trite, were great indications of a person's moral character (Plutarch, 1914, p. 225). We can, therefore,
assume that Plutarch would have placed great importance on the everyday activities of Cleopatra and Antony in reflecting the character of their
relationship. Plutarch wrote 150 years after the events of Cleopatra and Antony and was therefore heavily influenced by Roman views of, not only, the
couple themselves but also by Roman's understanding and expectations of relationships, gender and race. Plutarch highlights the inseparability of...
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So in Plutarch's eyes, Antony has failed to live up to his male role within the relationship. Roman's believed that "A man's whole being is moulded by
the habits of his daily life" (Moohan, 2008. p. 27). To Plutarch, Antony's activities such as fishing indicates Antony's failure to live up to his honorable
rank as a Roman general. He is clearly inferior to the man he once was when he hunted "cities, realms, and continents" (Plutarch, in AA100 Assignment
Booklet, 2011, p.17). At times, Plutarch shows more concern with Antony's behaviour than Cleopatra's. Antony's actions are described as "mad follies"
and, although Cleopatra participates, it is Antony's actions that lack reason, not hers (Plutarch, in AA100 Assignment Booklet, 2011, p.17). Romans
viewed Egyptian way of life as inferior and "barbaric" compared to the civility of Roman culture as was reiterated by many Roman historians such as
Cassius Dio (Moohan, 2008. p. 27). Therefore, Plutarch is more concerned with Antony's actions as he expects more from a Roman man. As a woman
and an Egyptian, Plutarch does not have such high expectations of Cleopatra hence why he is less focussed on her. This passage underlines the
relationship's negative influence on Antony and highlights the power dynamics of the relationship. Cleopatra is in control and outwits Antony, whereas
he is powerless and idiotic. Plutarch makes sense of Antony's behaviour with a
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What Is Meant By A Theory Of Mind? Essay
To address this question, it is helpful to define what is meant by a 'theory of mind' (ToM). This proposes that people, and perhaps other animals, have
the capability of understanding that others have a mental state which is separate, and perhaps different, from their own. Premack and Woodruff (1978,
p.515) cited in The Open University (2016, p.86) first described this as 'an individual has a theory of mind if he imputes mental states to himself and
others'. For example, I know my team has scored at football, but my friend does not know that yet. I can theorise that he has, in this case, not just a
mental state, but also a different mental state (which is also a false belief). That awareness demonstrates theory of mind (or more accurately, theory of
'other's' minds).
One of the most prominent pieces of research done to explore ToM in non–human animals is Premack and Woodruff (1978) 'Does the Chimpanzee
have a theory of mind?' The study abstract explains that Premack and Woodruff attempted to demonstrate that chimpanzees had an understanding of
what a person was trying to achieve through showing a series of problems on video that a person was trying to solve. In each case the video was
stopped before the problem was resolved and the chimpanzee given a choice of several photographs (note: the study abstract states "several" not just
two) one of which showed the correct solution. The experiment consistently resulted in the chimpanzee choosing the correct solution.
Premack and
... Get more on HelpWriting.net ...

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Paper On Keynesian Contributions To Public Finance.

  • 1. Paper on Keynesian Contributions to Public Finance. PAPER ON KEYNESIAN CONTRIBUTIONS TO PUBLIC FINANCE 1. Impact of Keynesian Revolution on Public Finance In 1936 British economist John Maynard Keynes published The General Theory of Employment, Interest, and Money. Distressed by the failure of national governments to cope with the Great Depression, Keynes rejected many assumptions of classical economics and argued that state intervention, and in particular regulation of interest rates, could control inflation and minimize unemployment. What however was the "Keynesian Revolution?" Perhaps we can find the answer by taking a brief glance at Keynes's celebrated book The General Theory of Employment, Interest and Money and the "short argument" on page 63: Equation 1: Income = value of output ... Show more content on Helpwriting.net ... Income = value of output (A+B) = consumption (A) + investment + National Dividend. 2. Saving (B) = income (A+ B) minus consumption (A) 3. Therefore: Saving (B) = investment + National Dividend. It would be necessary to ensure that the "value of output" (so far as it represented the total price of retail goods) was kept down by using a part of the "National Dividend" to reduce retail prices, by means of the second Douglas proposal, the "National Discount" or "Compensated Price." The central policy change was the proposition that government action could change the level of unemployment, via deficit spending (fiscal stimulus) such as by public works or tax cuts, and changes in interest rates and money supply (monetary policy) – the prevailing orthodoxy prior to that point was the Treasury view that government action could not change the level of unemployment. A central aspect of the Keynesian revolution was a change in theory concerning the factors determining employment levels in the overall economy. The revolution was set against the orthodox classical economic framework, and its successor, neoclassical economics, which based on Say's Law argued that unless special conditions prevailed the free market would naturally establish full employment equilibrium with no need for government intervention. This view held that employers will be able to make a profit by employing all available workers as long as workers drop their wages below the value of the total
  • 2. ... Get more on HelpWriting.net ...
  • 3. The Theory Of Keynesian Economics Introduction During the Great Depression in the 1930's "classical theory had difficulty in explaining why the depression kept getting worse" (Cheung, n.d., para. 1). Many economists have attempted to develop theories that help to explain changing circumstances and why things kept getting worse. John Maynard Keynes, a British economist also known as the founder of macroeconomics, saw this as an opportunity and began to develop alternative ideas. His alternative ideas led to the idea of Keynesian economics. What is Keynesian Economics? Keynesian economics was used to manage the economy for roughly forty years until around 1970. "The main plank of Keynes's theory, which has come to bear his name, is the asser–tion that aggregate ... Show more content on Helpwriting.net ... 3). In order for there to be full employment or lower unemployment rates the demand of goods needed to remain constant. In order for demand to increase it had to come from the economy's output of goods and services. "An economy's output of goods and services is the sum of four components: consumption, investment, government purchases, and net exports (the difference between what a country sells to and buys from foreign countries)" (Jahan et al., 2014, para. 4). If savings was more than that of investments, there would be inflation. On the other hand, Keynes stated that if more went into investments than savings there would be a recession in the economy. This would mean that consumers would spend less, causing businesses to invest less in the market. Other well–known economist, such as Adam Smith who felt that government should play no role in the market, Keynes felt that state intervention was the solution to this problem. According to Keynes, state intervention was necessary to "moderate the booms and busts in eco–nomic activity, otherwise known as the business cycle" (Jahan et al., 2014, para. 4). Keynesian felt that state intervention would promote full employment and price stability and more specifi–cally, "governments should borrow money and boost demand by pushing the money into the economy. Once the economy recovered, and was expanding again, governments should pay back the loans" (John ... Get more on HelpWriting.net ...
  • 4. The Keynesian Era During The Middle Of The Nineteenth Century Before the "Keynesian" era in the middle of the nineteenth century, economists Adam Smith, David Ricardo, Thomas Mathus, and John Stuart Mill all shared somewhat similar economic views of the world. Some of the main concepts covered during this time included the division of labor, theories of rent, value, and distribution, theories of market "gluts" and population, and opportunity cost, competition, 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 from one set of hands to another, can relate even to this day, back to the revolutionizing conception of one extremely important economist, John Maynard Keynes. Before Keynes, economists believed with little to no government intervention, an economy would be self–adjusting in terms of employment and economic production, consumption, and output. All the ideas of classical economists were questioned during the Great Depression because markets were failing, there were high rates of unemployment, and the economy was not fixing itself. Keynes wrote The General Theory of Employment, Interest, ... Get more on HelpWriting.net ...
  • 5. Difference Between Classical And Keynesian Economics Parts of economic theories seem to constantly change because there is no perfect economy; however, there are two categories in which most economists fall under: Classical and Keynesian. Classical economists follow the theory described in Adam Smith's Wealth of Nations regarding a Laissez–Faire policy with no government intervention. People who are considered to follow the Keynesian economic theory generally favor government intervention in the economy during recessions in the business cycle (Colander p. 524). Three well known economists fall into these categories: Milton Friedman and Friedrich von Hayek were considered to be classical economists, while John Maynard Keynes, developed the Keynesian theory. Friedman was a firm believer in capitalism and that the market's guiding hand would help to regulate the economy. According to the ... Show more content on Helpwriting.net ... Similar to Friedman, he promoted a Laissez–Faire style economy and figured that government intervention during recessions would only make problems worse (Encyclopedia of World Biography 222). He also believed that the more regulations the government had on the economy, the less freedom consumers had when making a purchase (223). During the Cold War, many economists though the Soviet Union's economy would grow at such a high rate that it would be larger than the United States' economy; however, Hayek found holes in these arguments and did not think this was true. According to economist David Peterson, Hayek's argument was, "...prices that efficiently allocate resources cannot be set by government fiat. When an economy lacks the daily input of the individual decisions of millions of consumers...the result is colossal waste and inefficiency (86). This contributes to Hayek's free enterprise view on the economy, that it should be consumers who determine the prices of goods based on their demand, not the ... Get more on HelpWriting.net ...
  • 6. Halsey V. Milton Keynes General NHS Trust The significance of this Article refers to the court ordering or referring individuals to use ADR methods instead of litigation to resolve disputes. Article 6(1) makes it clear that the court can not compel any individual to use ADR to resolve disputes as everyone has the right to a fair and public hearing. The court can only encourage individuals to use ADR methods to resolve disputes and if the parties to agree to use an ADR process, they can not be complete to reach a settlement in that process. This can be seen in the case of Halsey v Milton Keynes General NHS Trust where Dyson LJ stated that compelling parties to use ADR would not be accepted as it would violate the rights set out in Article 6 of the ECHR. Using alternative methods to resolve disputes can be argued to be the better option in resolving most civil issues but no party can be constrained to settle with whichever method being used. Furthermore, if parties do agree to mediate or use any ADR processes, the option to continue with the process is entirely voluntary, and if a party does decide to discontinue, this discontinuation however, can not be challenged in the court due to confidentially rules.... Show more content on Helpwriting.net ... Using ADR as a means to resolve disputes does not waive an individual's right to access the court as no one ever enters an ADR processes on the basis that they must settle or if they do not they would not be able to use the court for better ... Get more on HelpWriting.net ...
  • 7. Economist: Milton Friedman And John Maynard Keynes Economist, Milton Friedman and John Maynard Keynes disagree on many of the economic policies and theories created by each individual. Each financial analyst has their own opinion when it comes to the Theory of the Consumption Function, monetary policy, and the free market. Friedman, a capitalist economist lays out of the benefits and importance of spending and earning money. While Keynes, a man who has more of a socialist view, finds many of Friedman's theories ineffective. The Theory of the Consumption Function, was written by Milton Friedman, in 1957. In this piece he speaks on the topic of spending decisions. Friedman believed that individuals will base their spending arrangements on future income, Friedman called this "permanent income." ... Get more on HelpWriting.net ...
  • 8. Keynesian, Monetarist, Fiscal Policy, Unemployment, Inflation Keywords: Keynesian, Monetarist, Fiscal policy, Unemployment, Inflation The Keynesian–Monetarist Debate When looking from both side of the Keynesians and Monetarist argument, we notice that both sides are correct in different terms. How unemployment is resolved in a labor market is opposed on the Keynesian side. While the Monetarist looked at the quantity of money, which should be increasing at a constant rate. The Monetarist reduce the money supply, which reduces the spending's and increases the unemployment rate. Keynesian The public eye of the Keynesians was John Maynard Keynes. To have input on the Keynesian side, one must have employment to make any type of income. Keynesians have a high level of output of spending's, also know as, rate of spending. At a rate of spending, aggregate demand is a graph that shows "the relationship between the price level and the quantity of GDP" (Hubbard & O'Brien 414). Keynesians often use the "spending stream" which is displayed as customer and capital goods that are being paid for by the people. During a depression, workers will take any job they can, even if it means to be working at a lower or less costly wage. Monetarist The second school of economic called Monetarism; which maintains the money supply: the total amount of money in an economy. Money supply is the chief determinant of current dollar of GDP, in the short–run and the price level over long periods of time. Monetary policy is one of the tools government has to affect the ... Get more on HelpWriting.net ...
  • 9. Benin Art in Museums and Galleries Essay The display of Benin art in museum and galleries reflect the attitudes and perceptions of Europeans towards non–western artefacts, especially African. Thus as European attitudes change towards non–western art since the discovery of Benin art in 1897, Benin art has been revaluated and re–categorised. Initially there was a great deal of debate about Benin art and its display, as it did not equate with the perceptions then held about Africa. Until the British conquest of Benin in 1897, little was known about Benin and its culture apart from brief interaction with other Europeans in the sixteenth century. The perception of Africa was of a primitive, savage and uncivilised land, full of 'abuses and fetishes and idolatries', (Hodgkin, 1975, ... Show more content on Helpwriting.net ... This posed a display problem to exhibitors including the British Museum as they tried to fit them into the ethnological museum to explain the emergence of 'civilisation from prehistory' (Loftus, 2008). The predominating attitude towards the Benin artwork was that it was the exception and lost treasure from an ancient, African civilisation. This resulted in the display of the Benin bronze plaques in the British Museum as a 'collective wall decoration, halfway up the main stairs, one more element in the eclectic mosaic of artefacts' (Wood, 2008, p72). The rest of the display of various antiquities of art and functional items like weapons and transport displayed jumbled together in glass cabinets with little or no detail as to the function or cultural value of the artefacts often misrepresenting ideas about primitive life. The primitive nature of African art attracted many artists looking for new inspiration and expression as urban modernity lost its vitality in the late 1880's and 90's (Wood, 2008). In adopting primitive African art as the catalysis for their expression of modernity, avant –garde artists created a more positive perception of the primitive rather than the negative barbaric perception. Wood (2008) quotes the early twentieth century, avant–garde critic Carl Einstein in that the Benin artworks were of no decisive significance. In fact, the western artists reduced their sophisticated beauty of the artwork as seen in ... Get more on HelpWriting.net ...
  • 10. To What Extent Is a Counsellor More Than Just a Good... To what extent is a counsellor more than just a good listener? In your discussion we would like you to draw on key elements that form the practise of counselling. In addition we would like you to consider your own qualities and skills and identify what you need to do to progress in the profession. This century has seen a rise in counselling services. We have counsellors for specific diseases, addictions, depression, divorce, name the problem and we seem to have a 'therapist' for it. So what are counsellors? Do we need them? Is that not what friends and family are for, to listen and help us through difficult times? Is a counsellor just a 'paid friend'? Can anyone be a counsellor? After all anyone can listen, we do it all the... Show more content on Helpwriting.net ... the time and length of session, cost, what is on offer and how things will progress. Some perspectives prefer strong boundaries whereby psychoanalysts interact less, letting themselves be the blank canvas for the client to project onto. Though it may be that, as therapy progresses, boundaries may be relaxed. Humanistic counsellors tend to become more involved and less rigid in their approach. It is important to get a verbal agreement on the boundaries to preclude misunderstandings on both sides. Key values within the framework also include respecting the dignity and rights of the client; integrity is essential for trust and respect and a sound knowledge base constantly updated ensures appropriate techniques or interventions to help diminish the suffering and distress of the client. Confidentiality is crucial, the client must be aware that he is free and safe, in a non–judgemental environment, to express all views and feelings knowing permission will be sought to share anything unless there is a fear of danger to self or others. Working within an ethical framework like this will help both client and counsellor to achieve the most from the relationship. Empathy, good listening, and appropriate nonverbal communication coupled with good language skills are developed alongside being able to divorce personal beliefs in order to accept how the client looks at the world. ... Get more on HelpWriting.net ...
  • 11. Milton Friedman Essay Milton Friedman Milton Friedman is known as one of the top economists in the world. He has a Ph. D. from Columbia University, won a Noble Memorial Prize in economics and has also been awarded many honorary degrees by other Universities in the United States. As you can tell, Milton Friedman has played a significant part in helping to solve the economy problems of the world. You've probably heard all about his accomplishments and awards he has received, but what about how Milton Friedman played a very important role in helping us get into a huge national debt? This paper will discuss how Milton Friedman played a negative role in our economy. When the Great Depression hit worldwide, it was up to the economists to explain it and to devise a ... Show more content on Helpwriting.net ... In seven short years, under the Keynesian policy, the U.S. went from the greatest depression it has ever known to the greatest economic boom it has ever known. The success of Keynesian economics was so astounding that almost all capitalist governments around the world started using it. And the result was the extinction of the economic depression! Before World War II, eight U.S. recessions worsened into depressions (1807, 1837, 1873, 1882, 1893, 1920, 1933, and 1937). Since World War II, under Keynesian policies, there have been nine recessions (1945–46, 1949, 1954, 1956, 1960–61, 1970, 1973–75, 1980–83, 1990–92 ), but not one has turned into a depression. The success of Keynesian economics was such that even Richard Nixon once said, "We are all Keynesians now(Keynes, 289)." Well, that was the theory the governments were using at the time to control the economy. Obviously there were some people who objected against use of this theory. One of them was Milton Friedman. He believed that the only function the government should be allowed is to control the circulation of cash. Although he accepted Keynes' definition of recessions, he rejected the cure. He believed that the government should butt out of the business of expanding or contracting the money supply. It should keep the money supply steady, expanding it slightly each year only to allow for the growth of the economy and a few other ... Get more on HelpWriting.net ...
  • 12. Critique Of John Maynard Keynes's Theory Of Demand For Money CRITIQUE OF KEYNES THEORY OF DEMAND FOR MONEY. Demand is the amount of goods and services that consumers are willing and able to buy at a particular price and place. It is the desire to purchase goods and services. Money is anything that is generally accepted as a means of payment for goods and services in a particular place. Several theories have been derived concerning the demand for money. Some of the economists that have postulated theories concerning demand for money includes: Irving Fisher, the Cambridge cash balance approach (put forward by Pigou and Marshall), Keynes theory,Milton Friedman's theory and so on. But this deals with the critique on the theory of demand for money by Keynes. Before one knows the critique to a theory, the theory needs to be understood itself. John Maynard Keynes wrote a book titled, The General Theory of employment, interest and money and here he gave in detail theory of demand for money. The theory postulated by Keynes is basically an extended version of the Cambridge Cash Balance approach. According to him, the demand for money is not the actual money balances held by people but what amount of money balances they want to hold. He believed people were not suffering from money illusion. Keynes said the demand for money depends on three motives. These are: transactions, precautionary and speculative motives. ... Show more content on Helpwriting.net ... It takes a while before asset or stock can be converted into liquid cash. This makes people hold liquid cash so that they are relieved from that stress and also ensuring that money is readily available. Precautionary Motive: This is the demand for money for unforeseen situations and events. An example of an unforeseen situation is an accident or an opportunity to invest in financial assets. Some people hold money to meet up with emergencies that may occur while carrying out certain ... Get more on HelpWriting.net ...
  • 13. The Brilliance of Conservative Economist Milton Friedman... Before the introduction of Keynesian economics and Milton Friedman's Monetarism theory, there was classical economics. These economists believed in self–adjusting market mechanisms, however with that the market needs perfect competition. Wages and prices in the market must be flexible. These economists believe that supply and demand pulls would always help the economy reach full employment. Full employment could be achieved by the market forces and with that changes the level of employment resulting in a fixed income and aggregate output. They believed that fixed income was a result of full employment and the price level was established by the supply of money in the economy. Since classical economist believed that it was the market that... Show more content on Helpwriting.net ... The United States learned the hard way that the market was not self–adjusting enough to bring back full employment on its own. In the early 1930's the unemployment levels were at an all time high of 24.9 percent. (See figure 1) When the wages fell as they were assumed to do; the lower wages did not return the market back to full employment levels. These major flaws in the past economic theories lead to the new ideas. Economist John Keynes explained that classical economics stated that wages and prices are very flexible; when in actuality they weren't as flexible as previously assumed. Keynes argued that the market is self–adjusting, however it has a long time before it actually made its way back on the rise. "In the long run we are all dead" was quoted from Keynes. Keynes believed that it was the aggregate demand for goods in the economy that determined the level of employment and the level of output. "The core requirement for an economic boom is demand because demand for products and services drives producers to create more. This demand for products then creates demand for the workers in order to make these products or services. Inversely, if there is no demand for certain products or services then there is no need for extra hiring or to keep the same number of employees because the demand for the products wasn't enough to cause a need for workers." (Roberts, 2010) Because of these factors, the market cannot ensure ... Get more on HelpWriting.net ...
  • 14. Milton Friedman Research Paper Economy is determined by the worth and prosperity of the land. It is recognized all over the world by the welfare of people, and is arguably, one of the most critical subjects a government can control. One person who understands this better than anyone is Author and Nobel Prize winner Milton Friedman. He was born in Brooklyn, New York on July 31st, 1912 to two lower class Jewish immigrants (Nobel). With his free market approach to economy, he made influential arguments that inflation or government regulations could have caused or worsened the Great Depression (Milton 2008). He also argued with Keynesian theorists that economic success does not involve government intervention, but rather, it comes from the markets which can eventually help the ... Show more content on Helpwriting.net ... In his book, Capitalism and Freedom, he supported many different policies, one of which is most famously recognized as the end of the military draft in 1970 (Nobel). Although he wasn't the sole contributor to introducing the volunteer military system, he was a big influence when he was an advisor to President Nixon (Bucci). Milton Friedman was very smart with his words and proved to be effective at arguing with a general who was in favor of the draft. After a successful argument over whether having a military draft was effective or not, Milton Friedman convinced the Secretary of Defense to be in favor of a volunteer military (Bucci). According to an article about Milton Friedman and his contributions to the volunteer military system, he thought that "The all–volunteer force is more representative of the American people than the draft ever was" (Bucci). The popular decision from the people showed that most Americans were against the draft and this perspective from Milton Friedman revealed that he cares about the welfare of the people despite his insensitive approach to economy. Another important policy he mentions in the book was about monetarism and how the central bank should regulate money. He believed that the government should be limited on how much they can influence the money system because he believed that government inflation was the cause of ... Get more on HelpWriting.net ...
  • 15. What Do the Representations of Cleopatra in Film and on... Part 1 What do the representations of Cleopatra in film and on television (as shown on the DVD video 'Cleopatra') tell us about how her reputation changed over time? Discuss with reference to two or three representations. The name Cleopatra invokes a striking image in your mind. The Egyptian queen who took on the might of Rome. The way we see Cleopatra's character changes in the way she has been depicted in movies and television across the years. With each different portrayal she reflects contemporary issues regarding society, the role of women and the historical knowledge available. The three representations of Cleopatra I will be looking at are the films from 1917 staring Theda Bara and 1963 starring Elizabeth Taylor and the ... Show more content on Helpwriting.net ... Her skin is darker and her hair is shorter and covered in various head dresses. In character she is shrews and calculating and unafraid and skilled at using a weapon. This reflects how society has changed and how the role of women has change over the years. Women are seen as more able equal in skill and ability to men. It also showed the difference in knowledge of ancient Egypt; still seen as luxurious the alliance was needed by Rome for strategic reasons. Whilst all three depictions of Cleopatra show opulence, luxury and a sexually proactive and powerful stateswoman. It is how perception of these roles has changed over the years which cultivate the reputation of Cleopatra. From a sexually dominant woman as bad and threatening thing to a shrewd leader unafraid to use all weapons at her disposal to ensure the strength of her nation and the continuation of her bloodline. 504 words Part 2 Read the following passage from Marlowe's Doctor Faustus. Discuss how the passage contributes to the portrayal of Faustus as a
  • 16. ... Get more on HelpWriting.net ...
  • 17. Labontes Model Of Health And Wellbeing Sharon Calderwood PI G239534X TMA 03 Q1 How can where you live influence your health and wellbeing? In this assignment I will attempt to explain how a persons health and wellbeing can be both negatively and positively impacted on depending on where they live. UK society is distinguished by health inequalities, they are the unfair and avoidable differences in peoples health across social groups and different population groups due to social, biological and geographical factors which usually result in people who are worse of financially encountering poor health and shorter lifespans. According to Labontes Model of health and wellbeing (p53 health and wellbeing in neighbourhood) we are shown how health can be broken down into three main factors, physical, mental and social and each area overlaps to make complete health. There are many examples how the neighbourhood you live in can affect your health and wellbeing. To maintain good physical. Social andmental health we need the following resources. Good transportation route to local hospitals, nearby parks and walking trails, health shops, more education and employment opportunities, appropriate housing, more spaces for people to recreate and relax in like cafes and public plazas, local gyms, outdoor activities and better sewage and drainage. Alternately the things that have a negative effect on our physical, social and mental wellbeing would be poverty, people that are financially worse off tend to live in deprived ... Get more on HelpWriting.net ...
  • 18. Milton Friedman Essay Milton Friedman Milton Friedman has been credited with many different achievements, including being one of the most effective advocates of economic freedoms and free enterprise, being the greatest economist to ever walk the face of the earth, and proving every single word that Lord Maynard Keynes ever said to be wrong. Why these may or may not all be true, it is obvious that Friedman was a brilliant man of many accomplishments. Milton Friedman was born on July 15th, 1912 in New York City. His parents were poor immigrants and his father died when he was a senior in high school. Despite all of these obstacles he had to overcome, Friedman received a scholarship to Rutgers University and got his B.A., an M.A. in 1933 from the ... Show more content on Helpwriting.net ... He is a past president of the American Economic Association, the Western Economic Association, and the Mont Pelerin Society and is a member of the American Philosophical Society and the National Academy of Sciences. Friedman was awarded with many honorary degrees by universities in the United States, Japan, Israel, and Guatemala, as well as the Grand Cordon of the First Class Order of the Sacred Treasure by the Japanese government in 1986. He is known as the leader of the Chicago School of monetary economics. Milton Friedman is the author of many books and two public television series that he did with his wife Rose: Free to Choose(1980) and Tyranny of the Status Quo(1984). His most important books include Free to Choose and Tyranny of the Status Quo( both of which compliment the TV series), Capitalism and Freedom(1962 with Rose D. Friedman); and Bright Promises, Dismal Performance (1983), which consists mostly of reprints of tri–weekly columns that he wrote for Newsweek from 1966 to 1983. Also, A Theory of the Consumption Function(1957) and A Monetary History of the U.S.(1963 with A.J. Schwartz). Milton Friedman has a primary belief in the tenet of limited government. He describes himself as classic liberalism. Today's liberalism views are very opposite to Friedman's, and therefore he is often considered a Republican Libertarian, as ... Get more on HelpWriting.net ...
  • 19. Milton Friedman And Milton Keynes There have been different views from John Maynard Keynes, Milton Friedman and central banks when it comes to inflation. However, what both John Maynard Keynes and Milton Friedman can agree on is the fact that inflation is seen to be a great evil. Moreover, the central banks interpret inflation as moderate being the fact that some inflation is seen to them as tolerable. Historically, Friedman and Keynes have had disputes on a better system for the control of inflation. For instance, Friedman put forward the monetary policy for the government to use in order to keep interest rates to stabilize an economy, whereas Keynes believed the government should be in control of inflation by the amount of spending produced between goods and services. Central banks have viewed both reasoning's to Keynes and Friedman's theories and decided the monetary policy is the best route for an economy to take. A great example of this can be illustrated in Canada with inflation rates only being kept between 1 and 3 percent. The other factors that central banks might have to deal with in other countries would be the change in political views and how much power the government has over central banks to control cash flow throughout their respective countries. The central banks must also avoid dealing with poor decisions made by government leaders which could affect the economy tremendously. In many underdeveloped countries, there have been a lot struggles even until present day where government leaders ... Get more on HelpWriting.net ...
  • 20. National Medal Of Science: Milton Friedman Milton Friedman, Wikipedia). Also, Professor Friedman was awarded the Presidential Medal of Freedom in 1988 and received the National Medal of Science the same year. One of Milton Friedman's first great contributions in the economics world was his Theory of the Consumption Function in 1957. "This theory championed the idea that a person's consumption and savings decisions are more greatly impacted by permanent changes to income rather than changes to income that are perceived as ephemeral" (Who was Milton Friedman, Investopedia). Instead, Friedman presented that people's annual consumption is a function of their permanent income, a term he announced as a measure of the average income people expect over a few years. While Friedman was a Professor, ... Get more on HelpWriting.net ...
  • 21. Insight From Theory And History Essay 1 Insights from Theory and History When referring to the subject of International Political Economy the main focus of study in this field looks at analyzing and finding reasons for the problems that arise or are affected from the interaction of international political decision, international economics, international trade, as well as different social systems and societal groups. Over the course and development of these systems prominent figures of economic theory and government interaction have emerged throughout the years. Two of the most influential theorist that have come to the fore front have been John Maynard Keyes, with his theory of Keynesian economics and Milton Friedman with his idea of monetarism. While both economists have had major influence on modern day economic policies, both theorist have contradicting ideas, this paper will aim to take a look at both Keynes and Friedman's theories respectively and look at the application of these theories in the real world. John Maynard Keynes theory of economics rose to prominence following the Wall Street stock market crash of 1929. This crash resulted in a major economic plummet, astonishing rise in unemployment, business closures, and a decline in tax revenues. Due to the occurrence of these events the American government turned to borrowing money from other countries. In addition to borrowing money in an effort to slow the recession, the government used strategies of classical economic theory proposed by Adam ... Get more on HelpWriting.net ...
  • 22. Comparing The Philosophies Of Keynes And Hayek Chorus: Which way should we chose? More bottom–up or more top–down? The fight continues. Keynes and Hayek, Second Round It's time to weigh in. More from the top or from the ground? Let's listen to the greats, Keynes and Hayek throwin' down Bottom–up is referring to Hayek's view, which is more laissez–faire. Laissez–faire is a system or point of view that opposes regulation or interference by the government in economic affairs. Top–down is referring to Keynes's view, which is more dealing with the government taking control over the economy. John Maynard Keynes and Friedrich August Hayek were two well known economists of the Great Depression era with strongly opposing views. In the chorus the Chairmen Ref is asking the audience to listen to ... Show more content on Helpwriting.net ... Keynes believes that the government has a positive effect on the economic growth and the quality of services. In recessions, businesses and people tend to spend less money. He was against this idea and suggested that "it's spending that matters" because lower spending results in demand falling and job losses. Keynes's solution to the problem was for the government to play an active role in the economy. If the government plays an active role in the economy, the economy will bloom and progres to its full potential. He believes that the government should stimulate economic growth by increasing demand through increased credit and public spending. Keynes is embracing liberal views such as economic freedom for the people to an extent in which it boosts the economy as he believes it's the key factor that allows the economy to reach its full potential with government intervention. Keynes disagreed and strongly opposed Milton Friedman's ideas. Friedman suggested the monetary policy, controlling the money supply, can help out the economy throughout recession. On the other side, Keynes suggested that monetary policies play a very little role in stimulating the economy and aggregate demand. He disagreed with Milton Friedman's ideas as he believed the government should encourage spending and discourage ... Get more on HelpWriting.net ...
  • 23. Difference Between Classical And Keynesian Economics Parts of economic theories seem to constantly change because there is no perfect economy; however, there are two categories in which most economists fall under: Classical and Keynesian. Classical economists follow the theory described in Adam Smith's Wealth of Nations regarding a Laissez–Faire policy with no government intervention. People who are considered to follow the Keynesian economic theory generally favor government intervention in the economy during recessions in the business cycle (Colander p. 524). Three well known economists fall into these categories: Milton Friedman and Friedrich von Hayek were considered to be classical economists, while John Maynard Keynes, developed the Keynesian theory. Friedman was a firm believer in capitalism and that the market's guiding hand would help to regulate the economy. According to the ... Show more content on Helpwriting.net ... Similar to Friedman, he promoted a Laissez–Faire style economy and figured that government intervention during recessions would only make problems worse (Encyclopedia of World Biography 222). He also believed that the more regulations the government had on the economy, the less freedom consumers had when making a purchase (223). During the Cold War, many economists though the Soviet Union's economy would grow at such a high rate that it would be larger than the United States' economy; however, Hayek found holes in these arguments and did not think this was true. According to economist David Peterson, Hayek's argument was, "...prices that efficiently allocate resources cannot be set by government fiat. When an economy lacks the daily input of the individual decisions of millions of consumers...the result is colossal waste and inefficiency (86). This contributes to Hayek's free enterprise view on the economy, that it should be consumers who determine the prices of goods based on their demand, not the ... Get more on HelpWriting.net ...
  • 24. Personal Experience With Alzheimer's Disease What is a good person? Quora's definition of A good person is: Not a selfish person, but someone who thinks about the needs and comfort of another person as much as they think about their own. Someone who stands by you in difficult times. I agree with all of that. From my own experience, I'd add, someone who remembers what IS important to you and what WAS important to you, touches base with you regularly, accepts you for who you are and respects your human dignity. I am going to talk about my experiences with Alzheimer's Disease and how it made me a better person. And how profoundly this deadly disease impacted my life. What is Alzheimer's Disease? The Alzheimer's Foundation of America defines it as "A progressive, degenerative disorder... Show more content on Helpwriting.net ... I couldn't figure out what part she played in my life. She couldn't remember my name when I was about eight. I wondered why. From what I know or was told, my grandmother was a little unusual for her time. Born in the 1920's, she was the first in her family to get her bachelors and masters degrees, which was pretty impressive for a woman born in the 1920's. She had a beautiful singing voice and was a member of AFTRA, did radio shows for KDKA in Pittsburgh, Pennsylvania then became a speech pathologist and worked with children in the Milton Public School for most of her adult life. She was involved in church choirs and musical theatre and met my grandfather performing in Cohasset Summer Stock shows which were popular in the 1940s. She and my grandfather got married after he returned home from the war, settled in Milton where they raised two children, my mom and my uncle, sent them to Milton Academy, then to Harvard University and Wellesley College. They retired comfortably in their East Milton home, went to Fort Lauderdale, Florida semi–annually and did what a lot of retirees do... watched their health deteriorate. My grandfather bought an ice cream truck business and a segway when he was in his 70's but that's a talk for a different ... Get more on HelpWriting.net ...
  • 25. The Impact Of Neoclassical Economics On The Economy Essay Neoclassical Economics is an attempt to restore some of the principles that Adam Smith, a pioneer for capitalist markets, advocated for in his Classical Economic theory. Smith suggested that minimal intervention should be required regarding government policy as the laws of supply and demand will be self–correcting. John Maynard Keynes was an important figure that worked to apply fiscal policy that would remedy an economic depression. Keynes's idea of fiscal policy is the means by which government adjusts its spending levels and tax rates to monitor and influence the economy. Further, Keynes is known as the father of "Mixed Economy", in which both the private sector (households and privately owned businesses) and public sector (government) have an active and important role in the economy. He argued that in a capitalist economy, the government would have a direct response to where in a business cycle the economy was at any particular time–Borrow to spend in a Recession or Bust, and spend only to the level of revenue collected during a period of growth or Booms. Milton Friedman, an American economist, believed strongly in a neoclassical, one–directional approach to monetary policy, where the Federal Reserve should limit monetary policy to increasing M1 (primary money supply) at a consistent rate, slightly higher than the birth rate, in order to keep economic growth at effective levels. Moreover, he believed the federal government should tax minimally in order to ... Get more on HelpWriting.net ...
  • 26. Dissertation Proposal Introduction Development of an individual economy passes through different economic phases. Sometimes it is booming and sometimes it suffers from recession. This phenomenon can be viewed as projection of consumption and investment strategies of the individuals and the government of the country. Interest rate, being a major factor of economics, plays a great role in economic activities carried out by nation and the nationalities. A change in interest rates may affect other factors of the economy. For instance, investment strategies of the investors, consumption strategies of the individuals, foreign exchange, imports, exports etc. are affected by the interest rates. An increase in interest rates may decrease the investment, decrease the ... Show more content on Helpwriting.net ... Individuals spend more today when they expectation to earn more in future for a longer time. This means individuals' consumption pattern is determined by their permanent income not by their current income and the permanent income is determined by the permanent asset. Robert Hall (1978), 'Random walk model of consumption' explains that the consumption is unpredictable since it only changes when there is surprising news about the income. GDP, an indicator of prosperity of the economy, is also determined by the imports and exports. Imports and exports are influenced by the exchange rates and the interest rate causes fluctuation in the exchange rates. When the exchange rate appreciates or depreciates, the relative prices of imports and exports change; biz/ed (n.d.). This means interest rate has a significant influence in the imports and exports. Methodology: There are several factors that limit for the exhaustive data collection as required for the quantitative analysis. However, this research will be based on the analysis of secondary data on the basis of relevant theoretical support. In this respect the aim of the dissertation will be addressed through desk research. The desk research will begin with text books related to the macroeconomics and financial management and the statistics to identify the related theories. In addition, articles in ... Get more on HelpWriting.net ...
  • 27. John Milton Keynes Vs John Maynard Keynes Friedman vs Keynes Within this informative essay there is information based on two economist. The two economists mentioned would be John Maynard Keynes and Milton Friedman. Topics that would be mentioned would be about Keynesian economics and monetarism and the differences between the two. Within the paragraph the information is taken from electronic sources. The purpose of this informative essay is to mention the differences and similarities between the two economists. John Maynard Keynes and his achievements during his life John Maynard Keynes was an economist born on June 5th 1883 in Cambridge, England(John Maynard Keynes 1883–1946, 2008, para. 1 and 5). In the 1920's Keynes was a believer in theory of money known which is today called ... Show more content on Helpwriting.net ... These macroeconomic theories impact the way lawmakers create fiscal and monetary policies. Keynesian economists believe that a troubled economy continues in a downward spiral unless something is done to drive consumers to buy more goods and services which would cause the value of money to retain the same or to be of higher value.Monetarists believe in the control of the supply of money in the economy and allow the rest of the market to fix itself hopefully leading towards the same as what Keynesian Economist hope to achieve. The only differences would be which view is more reliable and on what cases would both need to be used or would a specific one need to be ... Get more on HelpWriting.net ...
  • 28. A Discussion Of Keynesian Economics One type of economic belief is called Keynesian economics. This belief or theory is in favor of total spending in the economy. It also agrees with total spending output and inflation, prices of goods rising consistently. This form of economics was developed in the 1930's by a economist, John Maynard Keynes, in hopes of gaining a better understanding of the Great Depression. Keynes was for more government spending and lower taxes that would possibly pull the U.S. out of the depression. Basically, this gave hope that America's government could get out of its low production time by stabilizing goods. Before the idea of Keynesian economics, people believed that the fluctuations in the output of manufactures would handle itself. The flaw in this ... Show more content on Helpwriting.net ... Before the depression when economics was at a low they would soon rise again in fluctuation. The depression put an end t this because there was such a shortage of jobs. This made Keynes start to think about how to help people and handle economy in a real crisis. The thought that life as people knew it was never going to return causing a "boom and bust" system. Keynes' suggestion about this was that when the government was going good they should raise taxes and spend less money, and when they were in a bust they should lower taxes to retain money to the people. Keynes did not just expect the government to cycle money, but for the people to as well. He thought that unless you were putting money back for the future that you should keep your money cycling in the economic system. One of the biggest factors that had a part in Keynes' style of economics was something called multiplier effect (which is essentially banks making money from lending money). He was strong in the belief that if the government spent and invested, then they would make more money. If people were willing to spend their money as well then, the PD would eventually begin to ... Get more on HelpWriting.net ...
  • 29. Milton Keynes Research Paper Milton Keynes Meta: Milton Keynes in Buckinghamshire County, England has many activities to enjoy with your exclusive Milton Keynes Escort – Stephanie. Milton Keynes Milton Keynes is the fastest growing city in the UK, outside of London, and the premier place for many fun activities that are not found in other Buckinghamshire towns. This area was the site of early human settlements and now has many grand sculptures representing this deep history along with Art Deco architecture and over 300 roundabouts. There many shops, stores, markets, and restaurants inMilton Keynes, and you will learn which are best to bring an Exclusive Companion Milton Keynes. The Stables Theatre – This is your go–to performing arts theatre in Wavendon for concerts... Show more content on Helpwriting.net ... There are balconies providing breathtaking views of the city and a roof garden to snuggle up during those intimate times with a Buckinghamshire Companion. A private security system with video entry comes equipped in each room, so you know exactly who is coming to see you– which would be me. Most rooms have satellite TVs with DVD players and iPod docking stations. Extra large living room spaces have wooden flooring that have underfloor heating and a 24–hour concierge and maid service is available, giving you that 'home away from home' feeling. South Lodge Boutique B&B Milton Keynes – This five–star hotel has immaculate bedrooms with free WIFI, king sized beds, tea coffee–making facilities, and smart TVs. The en suite bathrooms have walk–in showers with luxury REN toiletries to bathe in. A vast complimentary hot breakfast comes with many delectable treats and each room have a private patio with the best views of the landscaped gardens surrounding a nice, soothing pond. Many people enjoy this eco–friendly tranquil hotel a lot when they want to get away from those other engaged UK ... Get more on HelpWriting.net ...
  • 30. Essay On Demand Of Money Expected Cost =iM+ПЃ(M,Пѓ)q. [6] The optimal number of withdrawals for precautionary purposes is achieved when the marginal benefit from the increased liquidity is equal to the marginal cost of an individual. Evidently, the optimal amount of precautionary balance will be linked to the rate of interest because of the relationship between the marginal cost of withdrawal and interest forgone, i, as shown in the Figure 2 . Ultimately the link is established by the suggestion that lowered precautionary demand for money is as a result a higher rate of interest and greater marginal cost of the withdrawal. This model still does not factor in wealth as motive for the demand of money. The underlying ... Show more content on Helpwriting.net ... Accordingly, the expected selling price is dependent on the expected interest rate, that is p_e^B=AвЃ„i_e . Consequently, the expected capital gain or loss, G, is potentially G=((p_e^B–p^B)/p^B )= (A/i_e –A/i)/(A/i)= A/i_e .i/A–1=i/i_e –1. [7] The total earnings on a bond, characterized by E, will be the interest rate at the time of purchase plus the capital gain (or less the capital loss) in the form of E=i+G. [8] At this point the explicit demand for money balances can be derived. Additionally, this is illustrated by the set of diagrams in Figure {1}. In which interest rate, i_1, equilibrium is at point E1. Whilst at the lower interest rate, i_2, equilibrium is E2, where the demand for money rises from M1 to M2. The speculative demand for money can be derived, a downward sloping curve, showing an inverse relationship between money balances and the various rates of interest illustrated below: Figure {1}: The Demand for Money The conclusion to be drawn is that all the three motives for demanding money demonstrate positive relationship to real income and inversely linked to the rate of interest. The equation that utilises this notion is as follows:
  • 31. ... Get more on HelpWriting.net ...
  • 32. Codeswitching from English Essays The use of codeswitching between English and other languages is examined from a sociolinguistic perspective. It will be shown that codeswitching is instinctive and achieves overarching objectives such as serving the outcome of speech, defining identity and indirectly delineating aspects of the relationship between the participants, it 'lubricates' the conversation by making it more 'fluid', and when English is used, brings clarity and precision, particularly to formal arrangements. Finally codeswitching from English as a component of 'metrolinguistics' will be considered in relation to the data provided. The extracts are between G. D. Jayalakshmi, known as Jaya, who normally speaks English (but also Kannada, a south Indian language, ... Show more content on Helpwriting.net ... 266), in which language choice signals identity 'projection'. This assertion might be challenged on the grounds of the need for a spontaneous response in a telephone call, giving insufficient time for a 'considered' language choice. The second extract, between Jaya and Prathiba is conducted almost entirely in Kannada, as they have known each other for many years, and have a much closer working relationship. However the English words 'paperwork' and 'legal clarification' are used in 2.5, which is otherwise spoken in Kannada. These are 'loanwords' and fill a vocabulary gap (Ibid. p. 264), for as Jaya says in her commentary 'I don't even know what the Kannada equivalent is', she refers to them as 'work words' that are automatically 'embedded' into Kannada. Another example of embedding can be found at 4.9 where 'sixth' is used in a sentence spoken in Kannada, as Jaya comments 'we often embed English numbers into Kannada'. At the beginning of excerpt 3 Jaya chooses to use Hindi rather than English, with her brother, who is on holiday visiting their father in India. Hindi was the language of their childhood in north India and this allows her to be more personal and rebuke him over her difficulty in reaching him on the telephone, so using Hindi in 3.1 she says 'and then I spoke to the entire world'. This use demonstrates an aspect of 'stable bilingualism' (Ibid. p. 294) in a multilingual family, in this context it can be called 'language maintenance' (Ibid.) and it is ... Get more on HelpWriting.net ...
  • 33. Globalization And Globalisation Choose an example from block 1 of how individuals are influenced. Which has a bigger influence on individuals: globalisation or your chosen example from block 1 ? Globalisation and immigration a socio–political imbalance. In this essay we are going to look at globalisation and immigration with the aim to see which has the biggest impact on individuals. We shall examine what globalisation is and what effects it has on trade, government and people. We will also look at immigration, the push and pull factors and what immigration means to individuals depending on which part of the world they are leaving behind. We will look at an illegal immigrants perspective in contrast to someone who is already a citizen. 'Globalisation refers to the apparently increasing exchange of goods, raw material, information, people and money between parts of the world that have been geographically and culturally separated until now'. (The Open University, 2013, Block 4 , p13). Advancements in transportation and communication technology have created a a global market for consumers anywhere in the world. Whether it be through an internet connection at home or a superstore in the high street selling produce from groceries, clothing and electrical, people can now purchase goods from any country in the world who participate in the free market. Immigration is the intent of an individual and/or their family to leave their country of origin to set up home in a different nation because their ... Get more on HelpWriting.net ...
  • 34. Chartism Essay example Task 1 What evidence is there in the extract above of the three explanations for Chartism's support that you have learned about in Block 2, Unit 2. Making sense of history, and which if any, is stressed most strongly by the speaker? Part 1 In no more than 200 words, write a plan for the essay Plan Introduction 1) Explain the background and context of the extract. 2) Discuss the evidence for the Chartism's support in terms of economic pressure, national political movement and inclusive cultural community. 3) The essay will explore how the three factors were important in the speech for gaining support for Chartism and which proved to be the more dominant factor. Economic Pressure 1) At the time of Chartism, ... Show more content on Helpwriting.net ... The essay will conclude by revealing through the use of evidence which was the dominant factor in the speech in gaining support Economic Pressure was used in the speech regularly to show the large division between the rich and the poor. The speaker refers to 'the rich unnaturally elevated', 'weight of taxation, misrule and oppression'. 'Destitution in horrid form stalks through street, lane and thourghfare' 'emaciated frames'. The terminology reflects on the economic pressures that the poor endured, high tax and poor working conditions that often led to illness and death. He emphasised how the richer of the society, the aristocracy, were 'in exclusive possession of power'. This speech would have stirred the emotions of the crowds as they heard how hard their lives were to those belonging to the upper classes. The speaker creates horrid, desperate images of the poorer classes 'insufferable despair,' toll of the death–bell' to highlight how hard their lives were. (Briggs, 1959, P.50) a secondary source reflected how Chartism 'seems to have been strongest in the two kinds of places... centres of decaying or contracting industry' and 'new or expanding single industry towns'. Briggs 's writing shows that Chartism was prominent in only certain areas such as those of industry. Whereas, 'almost non–existent in completely agricultural villages'. ... Get more on HelpWriting.net ...
  • 35. Milton Friedman And John Keynes Are Two World Renowned Milton Friedman and John Keynes are two world renowned economist, with many similar and contrasting views that have helped set the foundation of our economy. Friedman 's ideology on subjects such as the Monetary Policy, Gold Standard, and the Theory of the consumption function are what made him a extremely impactful economist. Keynes has made his impact on the modern day world as well in many aspects. Both of these economists have helped pave the way to a better, more efficient economy. Monetary Policy is the procedure by which the financial expert of a nation, similar to the national bank or cash board, controls the supply of money. Regularly focusing on a inflation rate or interest rate to guarantee value solidness and general trust in... Show more content on Helpwriting.net ... The expression "Keynesian economics" was utilized to allude to the idea that ideal monetary execution could be accomplished and financial droops avoided by affecting total request through dissident adjustment and financial mediation approaches by the administration. Keynesian financial matters is thought to be a "demand side" hypothesis that spotlights on changes in the economy over the short run. Basically Keynesian economics are the different theories about how in the short run, and particularly during the recessions, monetary output is strongly impacted by total request (total spending in the economy). The Gold Standard was the framework by which the value of cash was characterized in terms of gold, for which the money could be traded. The Gold Standard ended up being deserted in the Depression of the 1930s. Friedman felt that,"The gold standard is not feasible because the mythology and beliefs required to make it effective do not exist. This conclusion is supported not only by the general historical evidence referred to but also by the specific experience of the United States" ( "The Gold Standard:Please Stop").Economists who contradict the Gold Standard may perceive what must be accomplished with a specific end goal to make a centrally controlled paper standard better than a decentralized Gold Standard. Milton Friedman poses the key question: "How can we establish a monetary system that is stable, free from irresponsible tinkering, and ... Get more on HelpWriting.net ...
  • 36. Von Hayek's The Road To Serfdom Friedrich August von Hayek was born in Vienna, Austria in 1899 to a notable family. At the age of 19, Hayek started to attend the University of Vienna. While attending there, he received doctorates in law (1921) and political science (1923). During that time, Vienna was one of the top three universities for studying economics. Hayek went to college right after World War I, when Vienna was in poor conditions. Hayek hoped to better improve the social conditions in Vienna. During his time in Vienna, Hayek attended Mises's private seminars, Privatseminar. Hayek became the director of the Austrian Institute for Business Cycle Research in 1927. In the 1930's, Hayek was part of the first group to leave Vienna. Hayek went to join the faculty at the ... Show more content on Helpwriting.net ... His work on industrial fluctuations has had an impact on the business cycle theorists. Margaret Thatcher was influenced by Hayek's The Road to Serfdom. After reading Hayek's book, "she absorbed deeply Hayek's idea that you cannot compromise with socialism" and realized that "her own party had done just that." ("Thatcher, Hayek & Friedman."). She was a devout politician against socialism. Hayek influenced many, including but not limited to Winston Churchill, Milton Friedman, Robert Nozick, George Orwell, Karl Popper, Virginia Postrel, Ronald Reagan, Julian Simon, Hernando de Soto, and Thomas Sowell" ("Friedrich Hayek."). He helped to set the groundwork for economists and politicians to understands the basics needed for a free ... Get more on HelpWriting.net ...
  • 37. Milton Friedman Vs. Monetarism Milton Friedman and Monetarism Tomas M. Kuhn Robert Morris University Milton Friedman and Monetarism In politics, our nation is divided into many different parties. Each party has their own stance on how things ought to be and what changes need to be made in order to have society function they way they'd like. Macroeconomics also can be viewed as divided. Instead of being divided into parties, economists are separated by different schools of thought. There's many schools of thought because macroeconomics is such a complex matter. When there's problems in the economy answers can be found in a plethora of places, because there's so many moving parts. These moving parts of the economy are what economists use to make sense of everything. When people view some parts more important than others or find different solutions, different schools of thought become apparent. One of these schools of thought come from the writings of economists Anna Schwartz, Karl Brunner, Allan Meltzer, and most notably Milton Friedman. The school of thought became known as Monetarism, which focused on the macroeconomic effect of a nation's money supply and its central banking institution (Mccallum). We will be focusing on Friedman and the contributions he made to monetarism, which includes his quantity theory of money. Milton Friedman was the Professor of Economics at the University of Chicago for thirty years up until 1976. He is credited for the formulation of the Monetarism school of ... Get more on HelpWriting.net ...
  • 38. Environmental Impact On Environmental Effects On 280... After using this approach, some criteria for mitigation activities of mitigation banks are issued. It promoted the "watershed approach" which required landscape level plans and ecological strategic decisions about compensation. Then, it emphasized on wetland functions and values, and created the online database of mitigation projects. US wetlands compensation system highlights on qualifying potential bankers which will meet the biodiversity offsets goals. This system proved that banking will provide more offset credits. Through this approach, U.S. has a great experience of biodiversity offsets. The third representative biodiversity offset mechanism case is a Canada based project, Bruce to Milton Biodiversity Initiative by Hydro One ... Show more content on Helpwriting.net ... Moreover, as a result of cooperation with these groups, Hydro One chose to financially support 23 locally–designed projects that are proposed by 13 different groups for better improving the local area. The offset project works through quantifying the relevant habitat loss due to the reinforcement construction and the relevant habitat gain by the offset. Because of the trans–regional property of the line construction, the quantifications are used independently in very watershed traversed for achieving the no net habitat loss in each local watershed area. Moreover, besides the sole quantification of habitat changes, the social factors also have been taken into the consideration of habitat loss and gain assessment. The social factors include the related changes in local educational opportunities, First Nations participation opportunities, local entertainment utility. Consequently, Hydro One not only met the requirement of no net loss, but also made a net gain to habitat via this offset project. There are more detailed points of Hydro one project that are worth to mention. The cost is another essential factor in consideration of project application. Hydro one costed 16 million dollar for the total environment expenditure which includes fixed and variable cost, because cost structure indicates the types and relative proportions of fixed and variable costs that a business expends. Fixed costs remain the same despite that the amount of goods ... Get more on HelpWriting.net ...
  • 39. Defining Goffman's Total Institution Essay To examine how far Lennox castle hospital was an example of what Goffman called a 'Total Institution' I will first need to explore Goffman's definition of this, along with the four factors that he identified as characteristics of a 'Total institution' I will then go on to discuss how these four factors fit with Lennox castle hospital and determine whether or not it fell into Goffman's model of a 'Total Institution.' In order to discuss how Goffman's four factors fit with Lennox castle hospital I will first examine his definition. In 1961 Goffman stated that a 'total institution' "is a place of residence and work where a large number of like–situated individuals, cut off from the wider society for an appreciable period of time, together ... Show more content on Helpwriting.net ... Binary management, when staff and residents are kept separate by two different sets of rules; staff member's felt superior to residents and maintain a social distance between them allowing staff to feel empowered. The inmate role, all residents are discouraged from keeping links to their former roles; they lose their personal identity and are given an identity that the institution has chosen for them. The institutional perspective in time a resident may come to accept their loss of self identity; everyday life revolves around the institution rather than centring on the people in it. (k101, Unit 7, p 107) and (Jones and Fowles, ... Get more on HelpWriting.net ...
  • 40. Jersualem by William Blake Essay Jersualem by William Blake Of the true masterpieces in the English language, one of the most metaphysically challenging and eternally relevant is William Blake's Jerusalem. It took Blake four thousand lines etched onto one hundred plates to put his reinterpretation of the prophetic books of the Bible into an English context. The poem shows not only Blake's new understanding of the Old Testament gained from his recent learning of the Hebrew language, but his freedom from the Miltonic tradition. In the preface to Jerusalem Blake writes that it is a, "more consolidated & extended Work,(Keynes,620)" than he has tried before. The primary reason for his ability to begin such an undertaking when he did in 1804, is from the liberating release... Show more content on Helpwriting.net ... "Awake! awake O sleeper of the land of shadows, wake! expand!(4:6 )" Here is the initial call, the call to Albion, which is Israel, that has been superimposed on England. For as we see later, "All is Eternal Death unless you can weave a chaste/ Body over an unchaste Mind!(21:11)" He needs England to feel the way he feels, to see not just the trees in the forest but the color of each of those trees, and which have sparrows living in them. For Blake, life is Eternal Death, and only in the imagination can there be refuge. Thus the first contradiction appears; the idea that one must awaken not the physical self, but the Los within. Awake, but on the inside, keep your temporal self asleep– it does too much damage when arisen. For no immortal hand or eye can weave a chaste body over any mind. An image forms here of Blake resting his hands ever so on gently the English people to begin to sense their new directions. Herein lies the portal through which he traveled in order to exit the long Miltonic shadow– the England Blake was moved to prophesize to was not Milton's. The factories had changed that. And though man is ever unchanged, it is democratization and technology that drag the cart of history. Blake saw then most clearly that he was not Milton, nor should he try to be. His England, his Albion was starving for something vastly different than Milton's England was. Enter now into Jerusalem's second chapter, ... Get more on HelpWriting.net ...
  • 41. Essay on Ancient Rome and Cleopatra Cleopatra Read the following passage carefully at least twice. What does it tell us about Plutarch's view of the relationship between Antony and Cleopatra? For Plutarch peoples actions, however trite, were great indications of a person's moral character (Plutarch, 1914, p. 225). We can, therefore, assume that Plutarch would have placed great importance on the everyday activities of Cleopatra and Antony in reflecting the character of their relationship. Plutarch wrote 150 years after the events of Cleopatra and Antony and was therefore heavily influenced by Roman views of, not only, the couple themselves but also by Roman's understanding and expectations of relationships, gender and race. Plutarch highlights the inseparability of... Show more content on Helpwriting.net ... So in Plutarch's eyes, Antony has failed to live up to his male role within the relationship. Roman's believed that "A man's whole being is moulded by the habits of his daily life" (Moohan, 2008. p. 27). To Plutarch, Antony's activities such as fishing indicates Antony's failure to live up to his honorable rank as a Roman general. He is clearly inferior to the man he once was when he hunted "cities, realms, and continents" (Plutarch, in AA100 Assignment Booklet, 2011, p.17). At times, Plutarch shows more concern with Antony's behaviour than Cleopatra's. Antony's actions are described as "mad follies" and, although Cleopatra participates, it is Antony's actions that lack reason, not hers (Plutarch, in AA100 Assignment Booklet, 2011, p.17). Romans viewed Egyptian way of life as inferior and "barbaric" compared to the civility of Roman culture as was reiterated by many Roman historians such as Cassius Dio (Moohan, 2008. p. 27). Therefore, Plutarch is more concerned with Antony's actions as he expects more from a Roman man. As a woman and an Egyptian, Plutarch does not have such high expectations of Cleopatra hence why he is less focussed on her. This passage underlines the relationship's negative influence on Antony and highlights the power dynamics of the relationship. Cleopatra is in control and outwits Antony, whereas he is powerless and idiotic. Plutarch makes sense of Antony's behaviour with a ... Get more on HelpWriting.net ...
  • 42. What Is Meant By A Theory Of Mind? Essay To address this question, it is helpful to define what is meant by a 'theory of mind' (ToM). This proposes that people, and perhaps other animals, have the capability of understanding that others have a mental state which is separate, and perhaps different, from their own. Premack and Woodruff (1978, p.515) cited in The Open University (2016, p.86) first described this as 'an individual has a theory of mind if he imputes mental states to himself and others'. For example, I know my team has scored at football, but my friend does not know that yet. I can theorise that he has, in this case, not just a mental state, but also a different mental state (which is also a false belief). That awareness demonstrates theory of mind (or more accurately, theory of 'other's' minds). One of the most prominent pieces of research done to explore ToM in non–human animals is Premack and Woodruff (1978) 'Does the Chimpanzee have a theory of mind?' The study abstract explains that Premack and Woodruff attempted to demonstrate that chimpanzees had an understanding of what a person was trying to achieve through showing a series of problems on video that a person was trying to solve. In each case the video was stopped before the problem was resolved and the chimpanzee given a choice of several photographs (note: the study abstract states "several" not just two) one of which showed the correct solution. The experiment consistently resulted in the chimpanzee choosing the correct solution. Premack and ... Get more on HelpWriting.net ...