Mac Donalds Sparknotes

Mac Donalds Sparknotes
Summary and key role players.
Big mac: Inside the Mac Donald's empire is a documentary that was made on the 25th July 2007, it tells us the history of Mac Donald's (the people
who began it, how much their products costed, the variety of products they had on the menu at that time) and how the empire of Mac Donald's grew
to become the Mac Donald's that is known today. It also shows us the 21st century owners of Mac Donalds, how many Mac Donald's are around the
world (the host goes to some of these Mac Donald's and interview their managers and the managers show us how Mac Donald's operates every day,
how their products are made, how they treat their cutomers and employees). It also shows us interviews with the employees of Mac Donald's and
customers. ... Show more content on Helpwriting.net ...
The reason why I'm saying they are entrepreneurs is because entrepreneurs they saw an opportunity in the market and they grabbed that opportunity
with both hands. They took a risk and were creative people (they were the first to realise that customers were impatient people that wanted what
they bought quickly. George Michelle is a leader (I'm saying this because a leader is a person who works along with his team, he doesn't issue tasks
and just sit back and watch them perform the tasks. George Michell in this documentary actually works along with his employees and he stands
behind the counter along with the employees and he takes some of the orders of Mac Donalds). Mac Donald's uses an autocratic management style,
this means that the manager is the one that makes all the decisions. Mac Donald's is a franchise company, they listen and follow the rules and
regulations the franchisor places (we see this in the documentary when we look at when multiple of people taste the Mac Donald's product to see
whether they've used the right ingredients. A franchisor states that all Mac Donald's use the same ingredients). Mac Donald's in the olden days did not
follow the King I report, Mac Donalds only focused on generating profit, they didn't care about the community (people) and the environment (planet).
They also didn't follow the King II report, cause they didn't follow some of these principles (e.g the Social Responsibility and Transparency), the reason
why I'm saying they weren't social responsibility is because back in the days Mac Donald's only focused on profits not the community (people). Mac
Donald's were not transparent because even though they knew that their products could cause Obesity, they didn't let the customers/consumers know
that, they just carried on selling their products till they had legal issues regarding their products (the super–size me documentary) then they started
selling healthier
... Get more on HelpWriting.net ...

How To Pull An All Nighter Compare And Contrast
A piece of writing has little meaning if the overall topic is not compared to another work. In fact, any object in the world has this same philosophy. A
golf ball, for example, has individual detail to it, but when compared to a basketball, it has an entirely new meaning and description. This concept is
also appropriate when reading and analyzing literature. Whether this literature is analogous or extremely disparate to another, the reader's perspective
shifts. After reading "How to Pull an All–Nighter," by Joshua Piven, David Borgenicht, and Jennifer Worwick, and The Economist's "Higher Education:
Not What It Used to Be," I quickly noticed an interesting juxtaposition between the two. The first is a basic how–to that illustrates staying awake for
the entire night. Whereas the second informs the reader about pressing issues concerning fiscal matters of college. Many books and articles such as
these possess elements that help compose a unique piece of writing, including the intended audience, layout, and the ultimate purpose. Comparing and
contrasting these two readings, some characteristics appear to be shared while others create a definite divergence between the two. There are often
numerous fundamental components of writing that shapes the general frame of the work. "How to Pull an All–Nighter" exemplifies these essential
qualities. To begin with, the article was published in 2004 and had three writers collectively contribute to the text. This nonfiction

Constantly Brooding Economist Summary
Steven E. Rhoads wrote an article concerning why the brooding economist is constantly quarreling with congressmen, social workers, engineers, in
general all those who seek more money to do good. Economists were alarmed about recreation center costs, because they cared about the victims of
heart attacks and slow–learning children. Steven says that "whenever the costs and benefits of one program increase, the expenditures on and benefits
from some other program decrease." Steven believes that Economists keep reminding and lecturing us that there is no such thing as a free lunch,
whereas the concept of opportunity costs most people do understand it, and even people who don't, the concept is a normal aspect of life,Therefore, it
is common sense

John Williamson, An English Economist
John Williamson, an English economist, first devised the term 'Washington Consensus' in 1989. The term referred to a set of policy prescriptions
Williamson thought constituted the "standard" reform package needed to improve developing countries around the world. This reform package was led
by Washington–based institutions including the International Monetary Fund (IMF), the US Treasury Department and the World Bank. "The term
"Washington Consensus", in the minds of most people around the world, has come to refer to development strategies focusing around privatization,
liberalization, and macro–stability (meaning mostly price stability); a set of policies predicated upon a strong faith – stronger than warranted ––in
unfettered markets and aimed at reducing, or even minimizing, the role of government." (J. E. Stiglitz, 2004) However after much criticism of all
policies surrounding the Washington Consensus (WC), together with evidence of its harmful impact on health, the Post–Washington Consensus(PWC)
was developed. This consensus differs fundamentally from the original and was a vast improvement.
At its original creation the Washington consensus did not only reflect views from Washington but also included those of Latin America. The life of the
consensus can be traced from a Latin American perspective in the way that it evolves economic development models. There were many consensus–style
reforms in Latin America as well as the resemblance of the incompatibility between

The Importance Of The American Dream
"America is the land of opportunity"; this is what the United States reflects to the world. The American Dream is something many people aspire to
achieve. It is a belief that anyone can be successful if they work hard enough for what they want. It is considered to be a 'perfect life'; it can be filled
with money, happiness or even love – there are many definitions of what this means. Whether the dream is big or small, it has inspired many people
from all over the world to leave their country, culture and family for a better life in the United States. But what if the American Dream doesn't exist
anymore? What if the American Dream has been engraved in the human psyche to believe it's still true and thriving? So, who can truly achieve the
American Dream now? Today, the American Dream is only projected by those who are residing at the top of the social ladder. These are people who
benefit from the middle and lower class. They have neither transformed our society with knowledge or had any other function than to receive. These
people are, as Joseph Stiglitz, a Nobel–Prize winning economist, calls "ranks seekers". Ranks seekers are people that somehow have managed to get a
piece of the pie rather than making it bigger. They are monopolists. To the one percent, the American Dream is a marketing strategy. The rich will get
richer, and the poor will stay poor – with this said, how bad is inequality within the upper, middle and lower class? According to Stiglitz, the United
States has

Freakonomics : A Rogue Economist
In what way are schoolteachers and sumo wrestlers similar? At first, this question might be puzzling, but the answer is provided in the book
Freakonomics: A Rogue Economist Explores the Hidden Side of Everything. Freakonomics is the result of a partnership between an award winning
economist, Steven D. Levitt, and a journalist, Stephen J. Dubner. The duo decided upon making a book after Dubner was given an assignment to
profile Levitt. Dubner realized that Levitt took a different approach to economics than other economists and he saw that Levitt had an interesting and
effective way to explain statistics. This pushed the two to release the 315 page book to the public in 2005 in New York, New York. Since then, the
book has flourished and has been republished numerous times. In Freakonomics, Dubner and Levitt reveal that fundamental ideas of economics can be
used to interpret just about everything in modern society. The book focuses on a few key points including; incentives are the driving force behind
everything, conventional wisdom is often wrong, small causes can often have dramatic effects, and the advantages of having information. The authors
use many interesting stories and statistics to demonstrate these economic themes in the modern world. Stories include how some school teachers in the
Chicago school system cheat, the influence that the legalization of abortions had on crime rates, and how real estate agents tend to sell their own
homes for higher prices than if they

Impacts Of The IMF And Greek Debt Crisis
The IMF and Greek Debt Crisis
11.02.2015
Naama Kates
IMF and the Greek Debt Crisis:
"The 'miracles' performed by credit are fundamentally comparable to the 'miracles' an association of counterfeiters could perform for its benefit by
lending its forged banknotes in return for interest. In both cases, the stimulus to the economy would be the same, and the only difference is who
benefits."
– Maurice FГ©lix Charles Allais, 1988 winner of the Nobel Memorial Prize in Economics (NobelPrize.org, 2015)
Introduction
In 2010, the IMF, along with European Central Bank and the then–sixteen members of the European Union, drew up an economic bailout package in
the form of в‚¬110 billion loan to 'rescue' Greece from "sovereign default"–i.e. Greece's inability to pay back its existent debt. This action was a
response to the growing fear of default from (mostly private) investors around the time of the Great Recession and resultant European debt ... Show
more content on Helpwriting.net ...
According to Eurostat, (2013), the debt–to–GDP level in Greece had been over 100% since the millennium, reaching 127% in 2009 and a staggering
146% the following year (after credit rating agencies received reports of the growing debt ratio). This caused a crisis of confidence in the market,
which effectively shut the country out of the trade market, as risk insurance for potential investors/creditors was so high (Wikipedia, n.d.).
The в‚¬110 billion loan came, in typical IFI fashion, with conditions which included structural reforms, economic austerity measures, and mass
privatization of government industries and assets. It was officially launched in May of 2010 by the three aforementioned entities. (This group was
since nicknamed 'Troika', or С‚СЂРѕР№РєР°, from the Russian word for trio–most likely a play on the corrupt

The Economist Of Lowering The Voting Age
US society is made up of dozens of rules for kids and teens, providing age limits for a long list of activities, including drinking alcohol and driving a
car. The voting age is one of these age limits, and has been a topic of debate for many years. The anonymous author(s) from The Economist believe
that lowering the voting age to 16 would be beneficial in increasing the low percentage of under–25 voters, as well as boosting political activity
throughout their lives. They attempt to convince the readers of The Economist that the voting age should be lowered, using elevated diction, a
rhetorical question, and facts to back up their claims, creating an overall scholarly tone. The Economist starts out their essay using a rhetorical
question: "How

Technological Advancements Benefit Humanity
Technological Advancements Benefit Humanity Change in technology happens rapidly on a daily basis. As Schlesinger expresses, "The last two
lifetimes have seen more scientific and technological achievement that the first 798 put together"(Schlesinger 41). Whether it deals with cars, travel,
medicine, media, or a host of other topics, advancements in technology are occurring all around us. It is up to us whether to accept these changes or
not. Many believe that change in technology is a hindrance, causing more problems than solutions. I believe technology has created a safer
environment, revolutionized the way we look at different ideas, and resolved many economic problems in industries! In other words, change is
inevitable and people ... Show more content on Helpwriting.net ...
Some people say social media technology has caused a lack of social etiquette and personal interaction. I have discovered that with great technology
at our finger tips, it is teaching us how to think outside the box, helping to reinforce intelligence. I have come to conclude that these countless
technological changes have helped us to evolve as a whole and to better our future. These changes simplify the way we do many things in society
and have also contributed to making it a safer place to live. Change will happen, it is up to the people of the world to accept and embrace it. What we
have now will only become more advanced in the future.
Works Cited
Klein, Thomas, Bruce Edwards, and Thomas Wymer. "Searching for Great Ideas." Trans. Arthur Schlesinger, Jr. The Challenge of Change. . 2nd.
Belmont, CA: Wadsworth, Cengage Learning,
Law, Wai–Lun. "Single incision laparoscopic surgery: the next frontier of minimally invasive surgery." Surgical Practice (1744–1625) . 14.1 (2010):
29–31. Web. 15 Feb. 2012. <http://web.ebscohost.com.proxy.kennesaw.edu/ehost/pdfviewer
/pdfviewer?sid=18dd50b6–61bf–4273–9e20–1f63d23b843b@sessionmgr11&vid=2&hid=113>.
"Why the Future is Hybrid." . The Economist, 12/04/2004. Web. 12 Feb 2012. <http://web.ebscohost.com/ehost
/detail?sid=eec54aa3–281f–472e–a636–df5827add5d8@sessionmgr13&vid=1&hid=14&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ==
Persuasive Paper –– Technological Advancements Benefit

Digital Currency: What is Bitcoin? Essay
Introduction:
Throughout this
Bitcoin: A History; what is bitcoin?
To start off primarily, Bitcoin is a digital currency as opposed to physical currency that we're accustomed to and use in our daily life. Straight off their
site, Bitcoin is described as a pseudo–anonymous, P2P technology operating with no central authority or banks, it's open–source, public, owned by no
one and open for everybody to take part; but what does that all mean? "Bitcoin is the leader in a new generation of emerging currencies known as
"cryptocurrencies" which aim to, among other things, facilitate the movement of money electronically while still maintaining a sense of privacy,"
(Hobson) Bitcoin stores no personal data (a characteristic we will later ... Show more content on Helpwriting.net ...
Every four years, this reward is halved meaning no more than 21 million bitcoins will ever be produced. The purpose of such a "finish line" is to
mimic the finite quantity of a resource such as gold. To crunch some numbers: 3600 bitcoins are produced daily, each Bitcoin is worth around $100
making the mining industry itself a profession. Some advantages of Bitcoin are that they are transferred directly from person to person, fees are much
lower, they can be used in any country and accounts cannot be frozen and no prerequisites or arbitrary limits exist. On the other hand, there are privacy
and security issues that arise since bitcoins are shared publically online sometimes making it the go–to currency for criminals online. It's important to
note that since Bitcoins are produced without the involvement of governments or banks, they avoid taxes. Lastly, the cap of 21 million bitcoins has
driven the value of a single coin up as shown by the below graph depicting expected growth of coins over time.
Current uses of Bitcoin
Amazon, Virgin Galactic, eBay and Subway are just some examples of retailers that have jumped on the Bitcoin bandawagon. According to Fred
Ehrsam, co–founder of Coinbase, a reason for the adoption is "the Bitcoin economy has been going through a speculative phase, with people around the
world driving up the digital currency's

Persuasive Essay
The issue with one's personal seclusion coexisting with society's public safety is that it cannot be transpiring. This controversy is a complex
situation because with the extensive amount of cameras and microphones installed throughout everywhere you go, it is almost impossible to not
be invasive of one's privacy. The topic has silently existed for decades, however with technology enhancing at a rapid rate, the discussion has
emerged and several writers have decided to explore the matter in depth. In the "The Anonymity Experiment" written by Catherine Price, she tests
this idea of total concealment of living "off the radar" for an entire week. She withdrew a week's worth of cash, purchased an untraceable cell
phone, cut off all ties that required a name, address and phone number and proceeded to other numerous amounts of extremes. However, after being
anonymous for an entire week, Price soon discovered that "no matter what you do, you'll never really know if you're successful at keeping private,"
(395). The measures and lengths she went be extreme but have nonetheless been absolutely necessary to achieve complete privacy and she believes
she "did a pretty good job" (395). Aside from Price's perspective of this successful solitude, lawyer and writer Wendy Kaminer communicates a
different view of public safety with privacy. Kaminer writes in her article "Trading Liberty for Illusions" that the lack of privacy is all due to when
Americans feel "frightened or under siege"

The Battle Of The Civil War
It was a group of radical Republicans and southern Democrats in 1865 that set the tone for one of the most infamous and earlier gridlock stories in
Congress. After the assignation of Abraham Lincoln, Andrew Johnson became president and the dispute incurred over how to fix the country. The
Civil War had left the country with insurmountable damage and Congress could not agree on how to rectify the situation. Northern Republicans wanted
to open voting rights to former slaves, which is exactly what the southern Democrats did not want. These Republicans, wanting to get more votes,
passed two voting right pieces of legislation, which Johnson vetoes. Thus begins not only gridlock in Congress, but also attempted impeachment of
Andrew Jackson. Gridlock is brought about by valid and meaningful pieces of legislations that both major political parties cannot agree to instate and
while Congress may not agree to pass it, most often it is the citizens that suffer. (Browning)
There are various reasons for Congress to achieve gridlock. Wikipedia defines congressional gridlock as, "a situation when there is difficulty in
passing laws that satisfy the needs of the people... when the ration between bill s passed and the agenda of the legislature decreases." (Wikipedia) Sarah
Binder writer for Brookings states, " Alexander Hamilton was complaining more than two centuries ago about the deadlock rooted in the design of the
Continental Congress. In many ways, "gridlock is endemic to our

Milton Friedman Analysis
Who should benefit, and at whose expense when running a business? Milton Friedman maintains that profit is the only true goal, benefitting the
stockholders. However, R. Edward Freeman proposes that the needs of all a business's stakeholders must be balanced when acting. I support Freeman's
view because the environment has changed since the time of Friedman.
Milton Friedman believes the idea of businesses having some sort of responsibility to society is a baseless notion, and describes discussions
encouraging it as lacking meaningful analysis or precision. "What does it mean to say that 'business' has responsibilities? Only people can have
responsibilities" (Friedman, p.218)1. Corporations are led by executives which are chosen by the owners ... Show more content on Helpwriting.net ...
Maintaining an archaic business model would be foolish. Friedman argues that an executive should not take profits away from the company to donate
to the poor due to his own responsibilities. He then uses this to state that business should never perform any sort of act benevolent to society if it
would not further the pursuit of profits. Unfortunately for Freidman's point of view, the blind pursuit of profits is more often viewed as wicked and
immoral (Friedman, p.222). Government regulation is much more prevalent. Focusing on profits in today's market would soon lead your business on a
sharp decline. Moving from solely focusing on the duty to stockholders, Freeman suggests treating all stakeholders of a business as more than a means
to an end (Freeman, p.233). This can also benefit the stockholders, as by focusing solely on increasing profits, firms can often incur the wrath of
government, forcing their hand, much like with the separation of AT&T into eight separate companies (Freeman, p.234). Stockholders are the primary
beneficiary of corporation, and their money should not be spent frivolously, but it would be difficult to turn a profit if your suppliers, employees and
customers all desert you. Each group of stakeholders has their own desires, which must be weighed and considered, for should one leg of business fall,
the entire firm will come tumbling to the ground.
The view that profit is the only responsibility for corporations is outdated. Friedman's argument may have been valid in the past, but no longer applies.
Regulation and law have increased the influence of other stakeholders. To ignore that fact would be corporate

Ryanair Social Responsibility Case Study
Corporate Social Responsibility, and ethics as a whole, play a fundamental role in Ryanair's decision–making. According to OECD (Organisation for
Economic Co–operation and Development, 2001), Corporate Social Responsibility (CSR) is considered as a sustainable development behavior of
business. In order to do so, companies not only take commit themselves to internal economic development but they also aim to improve the quality of
life of the workforce and their families, as well as the local community and society overall. Companies conduct CSR in the dimensions of motivating
company employees, establishing social welfare, and achieving economic success (Habisch et al., 2005).
In order to implement a respectful environmental policy, Ryanair... Show more content on Helpwriting.net ...
As the Economist states, "Ryanair brands itself as Europe's only "ultra–low–cost airline"" (The Economist, 2017). In order to attain this level, Ryanair
reduce their costs as, for example no drinks are offered during the flight, planes land in peripheral airports (which cost less) or the space between the
seats are minimal in order to install more of them and therefore take on more passengers. As a result, Ryanair flights are significantly cheaper than
others, so they are very competitive, and this leads to a war price in the flight industry. Ryanair's message was clear: we will stop at nothing to give
you the lowest fares. However the extent to which these customer services are reduced still needs to remain ethical. As a result of such little customer
attending, only 22% of their travellers are corporate travellers (The Economist, 2017). Such conditions do not make this company attracting for
businessmen, who need to arrive straight away to their arrival destination, and who can afford higher priced flights. The company needs to keep a
certain standard of customer service, and this has been an issue faced by Ryanair. However it depends if the customer is willing to spare money for
such a low customer service. The low fares were well known, but such was the ruthlessness of the check–in staff. Many customers began to believe that
Ryanair rather focused on making extra profits rather than on their customer. Indeed, passengers were charged absurdly high fares to print their tickets
within the airports. As a response, the company began to become "nicer" (The Economist,

Family Food Traditions
Family Food Traditions Eating brings people closer together everyday, and for everyone, there are important memories that have been created
because of food. Whether it's a formal dinner, or an informal picnic, there will always be special bonds between people because food was
involved. We need to have traditions with food because they form and strengthen the bonds between us. There are holidays in every culture where
the food is the focal point. For example, the most important tradition involving food in the U.S. is Thanksgiving. According to a 2015 poll, 95%
of people in the U.S. spend Thanksgiving with their families."Thanksgiving by the Numbers." Fox Business, Fox Business, 23 Nov. 2016. This is
because people in the U.S. grew up making memories with their families, and they want to make more memories with their children. These
traditions are important to people because they make them nostalgic, so it's necessary for people to take a break and spend time with their
families. To relate the topic of nostalgia with food to my life, I recall a cherished memory I have about making enchiladas with my grandma when I
was nine. My mom's father is hispanic, but her mother is not, so she learned how to make hispanic food just for him. I have always admired this,
because she learned how to do this just to make my grandpa happy. She made us many hispanic dishes, but my favorite is still her enchiladas. I still
remember the smell of the chicken and beef that my grandma had prepared

Dream Or Reality? By Joseph E. Stiglitz And ' We Are The...
Dream or Reality
In "Of the 1%, by the 1%, for the 1%," by Joseph E. Stiglitz and "'We Are the 99 Percent' Joins the Cultural and Political Lexicon," by Brian Stelter,
these two authors illuminate their audience about how the 99 percent are making it through a difficult life, while the top 1 percent of Americans are
taking over everything and watch the 99 percent suffer. Also, the 99 percent of Americans are left living their nightmare and the top 1 percent does
not notice how bad the 99 percent are suffering because of them. Including the President of the United States, Vice President, the Senate, Congress, and
the House of Representatives as part of the top 1 percent, these people are causing the 99 percent of Americans to suffer dreadfully. The reason is
because, "we have so much inequality and the top 1 percent wants it that way" (Stiglitz 748). Personally I really do not understand why the top 1
percent of Americans want to live a lifestyle, where the other 99 percent of Americans are struggling and their incomes are falling. I feel that the 99
percent of Americans incomes are falling because of how much they have to pay on taxes and the top 1 percent of Americans do not have to pay a
lot on taxes. Since the 99 percent of Americans incomes are falling, "Lowering tax rates on capital gains, which is how the rich receive a large portion
of their income, has given the wealthiest Americans close to a free ride" (Stiglitz 748). Meaning that the top 1 percent of Americans

The Real Estate Agents And Economists
In the summer of 2006, the housing market in the United States was on a sustained rise, with consumer credit flowing between hands of buyers and
sellers, and average Americans finally living the dream by making steps to live in their dreams homes. The real estate agents and economists looked
forward to the future with excited eyes and deep pockets, looking to have a fulfilling career of success and family enjoyment. One could picture happy
mothers taking scenic rides along the countryside with her daughters fathers playing a stress–free game of catch with his boys, and the family having a
bucolic picnic at the local park. Little did they know or guess that in the coming months of 2007 and 2008, they would lose their homes and idyllic...
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As the years turned and the housing market got bigger and bigger, with great gains and with no apparent losses, investors thought it would be a great
idea to be more liberal with their money, especially in the ways of credit, investments, and lending. New ideas and new terms were developed, like
adjustable loans, 0% down for a home, interest only loans, negative–amortization, and zero–down loans. A whole new science was added to the
buy–sell game, a level that had never been tread on before, and those who were the best at figuring it out, raising the bar, doing the most, and playing
the system stood to make millions upon millions of dollars in legal, honest ways. Because of the before mentioned perceived "security", people made
riskier moves with higher payoffs. Generally, the moves worked, and those who made calculated risks moved quickly up the latter, instead of being
stepped–over for promotions and for money. Hard, fast, fresh cash motivated more than proven business models and trends, and unbeknownst to those
playing the game, the market sat upon an inflation bubble that was about ready to pop. Unlike a balloon that pops as soon a sharp needle penetrates it
's gentle exterior, the housing market didn 't just crash all at once. It was process that took time, but a

Self-Interest In Harford's The Undercover Economist
As cynical as it sounds, I believe that it is particularly enlightening and interesting to think of every person on Earth as wanting the best for himself or
herself. This way of thinking is what economists use when they analyze the reasons for the economic events of the world. In fact, self–interest is
frequently used in explaining certain phenomenon in The Undercover Economist by Tim Harford.It has always surprised me how some people would
pay for first–class tickets on any plane or train. By reading The Undercover Economist, I learned that those passengers get more than just a better seat.
They get better service and more prestige. Some people are willing to pay the extra money if they think that the status of a first–class seat is worth it.
One point Harford brings up is that "There is really no reason at all why coach–class train cars shouldn't have tables...except that potential customers
for first class might decide to buy a cheaper ticket when they see how comfortable coach has become"(Harford 46). That explains why economy seats
are so uncomfortable compared to those of the other classes on an airplane. The company operating the airplane simply wants to sell more first–class
and business–class tickets to earn more money. They allow one option for those on a budget and... Show more content on Helpwriting.net ...
In one example, Harford describes a situation in which a university attempts to discourage drunkenness by raising the price paid to drink any amount of
alcohol. Counterintuitively, many would continue drinking and "Later in the evening, many of them would empty the contents of their stomachs"(78).
It would make sense if one sees that the students who paid the up–front fees would want to get the best deal for their money by consuming more
alcohol. This same principle can then be applied to driving and plenty of other scenarios to support higher marginal prices to provide incentives for
minimizing a particular unwanted

Different Subjective Assessment Of Quality Of Living
1.7.1Mercer's Quality of living
Quality of Living, for the purposes Mercer's survey, analysis, and city rankings, differs from "quality of life." Unlike subjective assessment of
Quality of life, Mercer's criteria for Quality of Living are objective, neutral and unbiased. It measures the quality of living for expatriates based on
39 criteria grouped into 10 key categories (Mercer, 2011). Each category is weighed to reflect its importance for overall quality of living. They assess
the degree to which expatriates enjoy the standard of living in each host location, factoring in the interaction of political, socio–economic and
environmental factors. For this ranking, New York serves as the base city and all other cities are ranked relatively Table в
ЂЋ1 3 shows the categories
and criteria that Mercer quantifies for each city. (Khalil, 2012)
IndexCriteria
Political and social environmentRelationship with other countries
Internal stabilityCrime
Law enforcement
Ease of entry and exit
Economic environmentCurrency exchange
RegulationsBanking services
Socio–cultural environmentLimitation on personal freedom Media and censorship
Medical and health considerationsHospital services
Medical supplies
Infectious diseases
Water portability
SewageWaste removal
Air pollution
Troublesome and destructive animals and insects
Schools and educationSchools
Natural environmentClimateRecord of natural disasters
Public services and transportElectricity
Water availability
Telephone

MailPublic

Disruption Case Study : Lego
Disruption Case Study
LEGO: Back to Bricks
LEGO, as we know, is everywhere today. Not only in their classic, cuboid shapes, but also in video games, on the movie screen, on clothes, and in the
formation of theme parks populating the globe. Within a world that is increasingly being surrounded by colorful, snappable bricks, it is hard to describe
LEGO as anything other than a major success story. However, the brick road has not always been yellow for the Danish firm. Up against the volatiletoy
industry, LEGO has had their share of ups and downs, nearing bankruptcy in the early 2000s. One may say that LEGO has always been unique, but it
was not until this pivotal low they they became disruptive in the way they operated as a brand. This ... Show more content on Helpwriting.net ...
The company began to make rash initiatives in an attempt to transition their brand from that of a product, to one that embodied a lifestyle. Launching
offshoot product lines, television series, and theme parks, LEGO began heavily investing in business model extensions that would quickly crash and
burn. (Robertson & Hjulen) As a company, they lacked the expertise and validation to make these ideas work.
Enter JГёrgen Vig Knudstorp. In 2001, Knudstorp, a design thinker, joined the LEGO company as a consultant and was promoted to CEO after just
three years. He understood the complexity of the market and how LEGO was inefficiently addressing those challenges. After meeting with several
company stakeholders, JГёrgen was able to understand that the LEGO brand and core product were the bread and butter of the company. Creating a
messy ecosystem of disparate offerings and products forced LEGO to divide its attention to such a scale that they began to ignore their main customers,
a common incumbent faux pas. (Billund) Knudstorp knew what to do. It was time to strip the company down to its core–a ubiquitous brick. (Ringen)
Under his lead, the company would execute a multi–phase strategy to create a robust operational foundation that would serve as a platform for resilient
innovation.
As a response to demand–side disruption, LEGO began to pivot its organization to focusing on the creation of customer value. The company

Sklar and the Economist: Inequality in America
America was once known as the land of opportunity. However, that is no longer the case. Americans are still suffering from a depression that began
three years ago in 2008. According to the Bureau of Labor Statistics, in 2007, the United States unemployment rates were 4.6 percent. In 2009, one
year after the depression began, the unemployment rate rose to 7.6 percent. Millions of Americans are living in poverty, unable to afford the basic
necessities. On the other hand, there is a minuscule percent of the population that are billionaires. Written in 2005, Holly Sklar's essay "The Growing
Gulf Between the Rich and the Rest of Us" argues that if something isn't done about the growing inequality between the rich and the poor, the American
... Show more content on Helpwriting.net ...
In doing so Sklar puts the total number of poor into terms with which the reader can identify. These Americans cannot afford shelter, food, health care,
transportation and other basic necessities. Sklar also compares the unprecedented rise in wealth to the decrease in income for the middle and lower
classes in America. "Median household income fell for the fifth year in a row to $44,389 in 2004 – down from $46,129 in 1999, adjusting for
inflation" (Sklar 310). With the rising costs of living expenses, many Americans live paycheck to paycheck and struggle to meet their financial
responsibilities. To make the situation worse, government programs to alleviate the worst problems for the poor are disappearing. Sklar says, "More
budget cuts are in the pipeline for Medicaid, Food Stamps, and other safety nets for Americans whose wages don't even cover the cost of the
necessities" (310). Although the Economist argues that economic inequality is acceptable under certain conditions, one of these conditions is a safety
net for the poor, and this net is disappearing.. Millions more will go hungry and go without medical care due to these budget cuts. The information
about the poor in the Economist's piece is firmly grounded by facts within Sklar's article. For instance, Sklar's use of the Census Bureau finding of the
large

Acct745 Week 2
Running Head: ACTIVITY–BASED COSTING
Activity–Based Costing
Adriana Vlasin
Davenport University
ACCT745
Larry L. Simpson CPA, CGMA
March 1, 2015
Abstract
This paper provides a brief presentation of Activity–Based Costing methodology, how is used as well as its short comings.
Activity–Based Costing
Activity–based costing (ABC) methodology is an instrument designed to provide accountants and managers with valuable costing information that will
allow them to make sound strategic decisions. It is used as a secondary methodology rather than a replacement for the company's primarily costing
system. The ABC methodology identifies activities in an organization and for each activity it assigns a cost. The cost reflects the actual resource
consumption by each activity that has been identified.
Under a traditional system, overhead cost is allocated to an activity based on hours or rates for direct labor or machine usage. However, this approach
does not clearly indicate how much overhead cost will be needed in order to complete a job through a particular function. ABC methodology is to be
used as an alternative to traditional accounting where a business 's overhead costs (indirect costs such as electrical energy consumption for heating or
cooling, or indirect cost associated with marketing) are allocated as a proportion of direct costs, to an activity. This approach is unsatisfactory because
there can be cases where two activities could absorb the same direct costs

Real Estate Agents And Economists
Real estate agents and economists love to extol the virtues of home ownership when interest rates are low. In fact, they tend to see periods of low
interest rates as the very best time to buy a home for just about everyone.
Do your best to ignore the low rate hype. Sure, it 's better to get a low rate mortgage than a high rate one, but mortgage rates should never be the
primary reason driving you to buy a house. It 's even possible that chasing low rates can cause you to lose money.
How in the world can that possibly happen?
Buying Before You 're Ready to Settle In For the Long Haul
It doesn 't matter how low mortgage rates are, or even how "hot" the housing market is, you should never buy a house if you 're not ready on a personal
... Show more content on Helpwriting.net ...
If you pay 3 percent in closing costs to purchase a home, then another 10 percent to sell it, the house will need to have increased in value by at least
13 percent in order for you to not lose money on the exchange. If the property doesn 't rise in value at least that much, owning the house will cost you
money – over and above your monthly payment and other expenses paid to maintain the property.
You Have Significant Non–Mortgage Debt
Mortgages are usually thought of as being "good debt". While that 's often true, accumulating good debt doesn 't do anything to make your bad debt go
away.
If you have a significant amount of bad debt – credit cards, store charge accounts, car loans or other forms of debt – adding a mortgage to the list could
prove to be an unsustainable burden.
Another type of debt almost synonymous with Millennials are student loans. Though generally considered to be good debt themselves, they are
nonetheless debt no matter how you classify them, and add to your cost of living.

Before considering buying a home, carefully evaluate your existing debt situation. If you think that the current debt load is even a little bit
uncomfortable, your best course of action would be to wait in buying a home until you get those other non–housing debts under better control.
You can use a mortgage industry barometer to help you make this

Armchair Economist Analysis
The Armchair Economist: Economics and Everyday Life
Steven E. Landsburg
Insightful yet humorous, that is how I perceived as I dig in much further into the book entitled "The Armchair economist: Economics and Everyday
life" written by Steven E. Landsburg. The author is currently an economics professor at the University of Rochester. Aside from being an economics
professor, he has also been writing a monthly column in Slate magazine entitled "Everyday Economics" for over ten years now. He is the author of
Fair Play, The Big Questions and his most recent book More sex is safer sex. He also has written over 30 journal articles regarding economics,
mathematics, and philosophy.
The Armchair Economist have opened up tons of ideas which I would never thought can make such impact to my daily life. In this book, he raised
questions ... Show more content on Helpwriting.net ...
In health care, every decision should be examined well so that everybody could benefit from it especially the ones who really need it. For example
in the Philippines, it is very apparent that the health care provided by the government to the poor is not well distributed and not that affordable.
Seeking quality medical attention especially to an average earning Filipino can be expensive despite the government's attempt to lower it. So I think
the government should allot more budget or make some changes in order to improve the quality of care given to the poor people. It may be costly
but in the long run the government can and will be able to see and reap the benefits drawn by the change in health care. Moreover, not only we should
use the cost benefit method in evaluating a program but we can also use the cost effectiveness and cost utility analysis so that we can ensure the things
that we are doing is suitable to the needs of the

Pros And Cons Of Globalization In Chindia
Is Chindia a friend or a threat
We have spent a semester studying the effects of globalization on the world and business from currency exchange to trade policy. Through our
discussions and readings, we have learned that globalization is a boon to business as much as it is a curse. In business, strategic alliance agreements
help companies further develop process, foster market expansion and surpass competitiors. Although they both exist within the context of society,
government and business are two separate entities which share a few features. Governments at even the most basic level exist to protect their citizens
interests and to ensure that their needs are being met. While, business can protect the interests of a group or country, their primary reason for existence
is to turn profits to satiate their shareholders and validate those who work daily to provide the good/service. However, in order to provide adequately
for their citizenry, governments are compelled to think and act a bit more like businesses to ensure that their citizens remain content. India and China
are two examples of countries which at least in some areas of federal policy are thinking like businesses and as such has formed, Chindia, what would
be called a strategic alliance in business. In 2006, bilateral trade between the two countries reached almost 20 billion dollars and revenue has only
increased in recent years (Economist). At first glance it seems that India and China are nearly equally matched;

Economists Estimate Wealth And Poverty
Bishoui Fahim
Prof, Brian Curtis
English Comp 2
April 23, 2016
Wealth and Poverty Economists estimate wealth and poverty in many ways. The most three common measures are income, possessions (accumulated
wealth in the form of money, securities, and real estate), and socioeconomic metrics. Actions in the last category go beyond financial data to account
for health, food, infant mortality, sanitation, and other phases of human well–being. Usually, wealth and poverty measured regarding income.
Information on income is readily available, credible, and relevant, particularly in discussing poverty in the United States, wherever the inherited
wealth is a small factor, and most people live on wages and salaries. It 's beneficial to think of wealth and poverty about one another. That 's because
income inequality is truly the underlying issue in poverty, particularly in developed countries. In the economic talk, income inequality indicates to the
variation of revenue between and among several groups of people and households in an economy. Frequently the differences in wealth that effect
people feel wealthy or poor. In a developed country, any family inside a house with indoor plumbing, decent food, and clothes, running water, and
education and access to health care. This kind of life will be considered as a luxury. In the United States, millions of people who are enjoying these
things are considered poor people, and those things constitute the essentials in America. In developed

Accounting Theorist & Economist Recommending
Holmes Institute
HI6026 Memo 01 –T02, 2015
Memo
To:Mr Tu Dewey
From:Mrs. Jaya Jawalkar (Student ID: DC2369) cc: Mr. Safayet Hossen
Date:September 14, 2015
Re:Accounting Theorist & Economist recommending to deregulate GPFR This memo is in response to Mr. Dewey's concern regarding large
businesses asking for discount in their audit fees & many positivist accounting theorists and right–wing economists recommend that general purpose
financial statements (GPFS) be deregulated because they think that market forces can control the quality of GPFS.
Background Research
This research is on vital issue of deregulating GPFS & its effect on the national economy. The key features of accounting standards are IAASB, AASB,
and AUASB which shows the difference between Accounting Handbook & Accounting Standards.
International Auditing and Assurance Standards Board (IAASB)
According to (Grant Gay, 2012) "International Auditing and Assurance Standards Board (IAAB) works to improve the uniformity of auditing practices
& related services throughout the world by publishing proclamation on a variety of audit and assurance functions and by promoting their approval
worldwide".
"International Standards on Auditing (ISA's) have basic rules & needful procedures together with related instructions in the form of guiding and other
material. It is bound to developing, in the public interest, a single set of merit, global accounting standards that require clear & equivalent information in

The Importance Of Far-Sighted In The Economist
According to the article "Far–Sighted" in the Economist, the assistance to help immigrants with their financial situation is on a rise. In years past,
when an immigrant would migrate to a new country, they would have a dream and that was probably to grow their financial status or start a business,
but there was problem for most migrants as they had a lack of paperwork and no credit. Without the proper paperwork and credit, the immigrants
would be at a standstill, as they could not get loans to further their career, but with the help of several banks such as Neighborhood Trust, Extrabanca,
Scotiabank and Oportun, immigrants are now getting more opportunities to get access to banks and loans in several ways. These firms want to make it
quick

Article Review On Deforestation And Deforestation
Government source (Our Planet)
Latham, S. "Habitat Loss." Our Planet. N.p., 5 July 2013. Web. 05 Nov. 2014.
<http://ourplanet.infocentral.state.gov/habitat–loss>.
The article focuses on the habitat loss due to deforestation. The author talks about the different purpose of deforestation such as agriculture, forestry, or
water projects that endangers the species that live in the area. The article is based on information taken from World Wildlife Fund, IUCN, and Red
List. The information that the author provides is important and useful to the topic of deforestation. Overall, the article is well written and well
researched.
Mainstream media (The Washington Post)
Kirkpatrick, Nick. "In Brazil, 20 Million People May Not Have Enough Water." Washington Post. The Washington Post, 27 Oct. 2014. Web. 05 Nov.
2014. <http://www.washingtonpost.com/news/morning–mix/wp/2014/10/27/in–brazil–20–million–people–may–not–have–enough–water/>.
The article is about the water shortages due to little rain in southeastern Brazil. It hurts the region's key crops and the people who live there. Millions
of people in the region have been affected it. The water shortage is relevant to the topic of deforestation because it is the consequence of the overly
conversion of forest areas to human usage. The author offers the reader statistic numbers, satellite images of the drought areas taken from NASA's
Earth Observatory. These images and statistic numbers are reliable sources to show the serious

The Undercover Economist
I am very interested in the upcoming election and how the different parties' attitudes to business and welfare will affect the vote and the eventual
success of the country. I wish to study a course that will provide me with a thorough insight into the political and economic impact of our national
decisions.
Books such as Tim Harford's The Undercover Economist have further revealed how the economy and the 'real' world interact. This has made me query
how much a number like the GDP matters when it fails to take into account elements as important (albeit nearly immeasurable) as a population's
happiness. I am interested that Nicolas Sarkozy is raising these issues in France. I keep up with current affairs through reading newspaper articles and
watching programs such as Question Time.
To further my understanding of the financial world, I arranged work experience with Tideway Investment in London. At first sight this appeared to be
a surreal world where moving money around creates more money. I began to learn more about the realities of valuing companies and stock. This ...
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It is an exploration of the two characters' status and integrity, tracing their economic class and comparing how much the government values each
individual. I learnt much from this personally motivated project. I did considerable research covering issues such as "Megan's Law", and was
influenced by political writers such as George Orwell and Truman Capote. I enjoyed exploring issues such as how a criminal record changes job
prospects, and yet how a class of lesser paid citizens may be required for society to function. It raised my concern about the philosophy and ethics of
political systems, and has motivated me to study these issues further. By writing this novel during my college studies I demonstrated rigorous time
management skills and

My Economist Scholarship Essay
I vividly recall proudly paying the well–spent, five dollar entrance fee to see my shy nephew, Etienne (Etti for short), with his newly assembled
basketball team playing their first game of the season. In tow, I kept my Economist magazine well–fittingly folded on an article about young Kurds
adopting the game of basketball snuggly tucked into my left back pocket of my jeans. For a number of years now, the Economist has validated itself to
be more than just a faithful subway companion and exceptional read, but it has actually been inspirational through some of the most difficult times of
my adult life.
The world–renowned magazine provides concise, yet insightful articles pertaining to economic, societal, political, scientific, and global affairs. In a
glimpse, the obituary section of the magazine beautifully marries the meaningful and colorful lives of politicians, athletes, writers, scientists, and even
dictators with the intriguing narrative of people ... Show more content on Helpwriting.net ...
I was determined to be the first person in my entire family to attend and finish college. To the surprise of many of my friends and family members,
I worked very hard to gain the knowledge necessary and was able to bring this dream to life. During my sophomore year in university, my life took
yet another radical turn. At only seventeen, my little sister was subjected to something no individual should ever have to endure. She was raped.
Despite such a terribly heinous, senseless act, she was miraculously able to still find admiration in her stunning, vivacious son, Etienne, as result. As
Etti began to grow into a preschooler, my sister was having some difficulties, and thought Etienne would be safer and more stable living with me. I
was quite hesitant, but I knew just how challenging it was for her to ask, and I could not say no. I would not deviate from our promise. I would not let
this kid

The Economist Max Hastings Summary
Around the world, mistrust for the government is growing. People within the society are questioning whether or not they are being treated fairly. In the
article, The Economist, Max Hastings points out how middle–class Americans are forced to pay double the rates of the wealthy class. Thinking about
this aggravates me because the rich should not be allowed certain privileges while the poorer people are working days on end hoping to get by. A
government should not be run like this because it will make the middle–class feel unappreciated and undervalued. This feeling can lead to an uprising
from them depending on how long they decide to put up with it. Another point that caught my attention was when he talked about bosses trying to
change the vote of their workers. Manipulating their vote should not be acceptable because it is a personal right.... Show more content on
Helpwriting.net ...
Agreeing with Hastings, I think we all need to learn how to stand together and learn how to work alongside each other. If we do not, the future of our
country may be in jeopardy. The next article, The U.S. is not a country divided, discusses how the American society is not polarized. Studies show how
people have become more accepting now than they did in the past. This is good because Americans have become more tolerant throughout the years.
Even with this change, faults still exist. These problems involve: assuming the views of the political class, thinking the election results reflect what the
electorate wants, and not understanding divisions. Again, this goes back to unity and being respectable of people's

The Economists ' Economic Theory Essay
Jovanny Ibarra
Mr.Nasr
Economics
2 December 2016 The Economists What is the best way to earn money. To entrust on someone else like the government or yourself? Two economists,
John Maynard Keynes and Friedrich von Hayek had two contrasting views on how the government should handle the market. Keynes believe on the
government controlling the market while Hayek wanted the government to stay away from it. Hayek's economic theory is right because it focuses on
us as citizens to have responsibilities towards our money. To be utilized fully in a decentralized market system with free competition and pricing.(1)
Then to be able to save money rather keeping money being spent from Keynes' belief. First, Friedrich Von Hayekwas an economist born in Austria. His
work was involved with business cycles, the term of periods of growth and decay. Capital theory and monetary theory.(2) He believed that if the
government were to stay away from the market, then the business cycles would be removed or at least won't be having recession. Then there also the
problems governments had with the economy such as depressions. If the citizens would had authority towards it, then the money would've been spent
in different things such as today. U.S spending money on the military rather than education. Hayek accused Keynes of insufficient attention to the
nature of capital in production. (3) Meaning the labor that is used for making business. How these investments are being used for keep up with a

College Essay : Is College Still Worth It?
Often college students will question the college experience and if it is even worth it. Why spend all that money and time for just a piece of paper.
Not only that, but when someone gets into the desired workforce, is an individual ready for that career? The whole debate about if college is worth
it, all started back in 1636 when New College (Harvard) was just beginning. The debate continues to press on. Usually each opinion on the subject is
based on how the opinionated person is doing in the present after being done in college. If aren't making tons of money like they planned to do or
working as their dream job, they might have a negative outcome on college rather than someone that is doing good after college graduation.
While some might not consider it worth it because of the cost and other factors, others would disagree and say that college is worth the cost and
other factors. Forbes is for and against the subject according to their article, "Is College Still Worth It?" In the article, Forbes brings up the fact of
the opportunity cost of college and how college is so much more than just a degree, it's the networking, the friends, and of course the experience all
together (Kaufman). Networking is extremely important; an individual could be the closest of friends with someone in college and ten years down
the road get a job because they knew someone. College is the start of independence before people are on their own in the real world. Another source
states that college

Milton Friedman, An American Economist
When most of us think of the words opportunity cost, price, production, and service, we think of something related to obtaining or giving something.
According to Merriam–Webster, opportunity cost is defined as, the added cost of using resources (as for production or speculative investment) that is
the difference between the actual value resulting from such use and that of an alternative (as another use of the same resources or an investment of
equal risk but greater return). Price, is defined as the amount of money that you pay for something or that something costs. Production, is defined as
the process of making or growing something for sale or use, and lastly, service, is defined as, the occupation or function of serving. Milton Friedman,
an American economist, would say, nothing in live is free, that is, if you want something, you have to give something. These four words can all be
tied together and used to give and receive. We can either use it to our benefit or simply perform it. We could get the most out of life using these four
words, opportunity cost, price, production, and service, by primary accepting that everything in life is obtained at a cost, acknowledging that they can
be used as forward–looking concepts, and agreeing to do everything yourself instead of hiring someone to do it in your place. Multiple people simply
cannot accept the fact that everything obtained in life comes at a cost. Whether it be monetary or emotional even, you will have to give up

Compare And Contrast Smith And The Economist
In reviewing both articles in detail, there are clearly a multitude of differences between them. As such, the one that stood above all others, was the
level of in depth analysis. When it comes to the scholarly article (Evan Smith ,published in Journal for cultural research, 2013), there was a long in
depth quantification of the entire topic, he mentions the social aspects of riot psychology, also how simple protests can turn into full blown riots and
even including social media and how it made things worst (via Blackberry cell phones). As compared to, The Economist media article (May 2, 2015,
writer anonymous), which gives the general feeling that the writer is attempting to sum up events, in a timely and very concise way. This can be seen
by the fact that no more than a paragraph was spent on a single subject of the piece. By doing this they attempt to keep the... Show more content on
Helpwriting.net ...
This topic has personal resonance with me and is something that will always be up for debate, while definitely being something to keep a look out
for in the future. During Smiths article, he goes into great detail to look at things from both perspectives, never taking a side, always remaining
unbiased. While reading Smiths article it was fascinating that even though, as a species, humans have evolved a higher level of consciousness, we
still in moments of anger, lash out unjustly, even against our own so called communities. The media article also touches on how we may never fully
comprehend or justify, how looting and destroying stores and buildings, both you and your family have spent your whole life visiting, is a way of
rebelling against those who have aggrieved you. The media article also touches on how social media can cause a larger backlash. As seen through
social media and it's groups, which can be formed without ever seeing or even knowing a person

Apple Company Case Study
Apple is a multinational company that started in California 1976 and is now the most valuable company on the fortune 500 lists at $750 billion
dollars. Apple first started in a garage and now has over 450 stores worldwide in over 17 countries. Apple's main manufacturing plants moved
overseas in the early 2000s laying off 1000s of American workers and brought up some unethical thoughts on companies moving overseas to make a
profit for themselves and shareholders instead of the greater good. Apple is driven by many factors all of which come back to profit and growth for its
company and shareholders. Milton Friedman an American economist who believed that companies like apple should only worry about their own profit
and growth and that they had their own personal and social responsibility to become the best that they can be, this is true for the company as well as its
executives who think solely about themselves and shareholders. Apple falls under the utilitarianism doctrine, the concept that it creates the greatest
overall happiness that some might not seem as right or just, it's for the best benefit overall. Apple is a very powerful and driven and growing
company that has a very defining and identifiable logo as well as many trade marks, copyrights and patents that helps protect their company from
other competition. All of these factors help Apple continue to grow and thrive the way they have over the last 40 years. Their specific laws can also
define Apple like other

Starbucks: Harford's Undercover Economist
Starbucks, one of the most famous coffee store all around the world, and even, the children who still study in primary school, know about the
Starbucks. In most of the case, Starbucks already become one of the high incomes companies. In "Undercover Economist", Harford told that
Starbucks sell them coffee usually at 1.5 times high than its costing. (2012) How can Starbuck be so powerful, but still have so many loyal fans to
buy their products? In the article below, it will show you that how Starbucks using Location Advantage and Monopoly Rent to become really
successful. (Harford, 2012) In "Undercover Economist", Harford shows the biggest issue affect to the Starbucks to have a huge success is a location.
Based on the investigation of the

Keynes and the Classical Economists
Keynes and the Classical Economists: The Early Debate on Policy Activism LEAR N I NG OBJ ECTIVE S 1. Discuss why the classical economists
believed that a market economy would automatically tend toward full employment. 2. Explain why Keynes rejected the views of the classical
economists. 3. Compare the views of Keynes and the classical economists with regard to the proper role of government. s you discovered in Chapter 10,
unemployment and inflation impose costs on our society. Today, many Americans assume that it is the federal government's responsibility to reduce
those costs by combating unemployment and inflation when they occur. But the issue of government intervention to combat macroeconomic problems
provokes sharp disagreement... Show more content on Helpwriting.net ...
But the classical economists did not see saving as a problem. Saving would not cause a reduction in spending because businesses would borrow all
Keynes and The Classical Economists: The Early Debate on Policy Activism 3 EXHIBIT 1 Say's Law: Supply Creates Its Own Demand aid for resou 0
is p rce $10 s Businesses Households $1 00 is s pen t on goods and ser e vic s If all the income created in the act of producing output is spent by
households, supply will have created its own demand, and all the output will be sold. the saved money for investment–the purchase of capital goods,
such as factories and machinery. Why were the classical economists so sure that the amount households wished to save would equal the amount
businesses wanted to invest? Because of interest rates. In the classical model the interest rate is determined by the demand for and supply of loanable
funds, money available to be borrowed. If households desired to save more than investors wanted to borrow, the surplus of funds would drive down the
interest rate. Because the interest rate is both the reward households receive for saving and the price businesses pay to finance investment, a declining
interest rate would both discourage saving and encourage investment. The interest rate would continue to fall until the amount that households wanted
to save once again equaled the amount businesses desired to invest. At this equilibrium interest rate there would be no uninvested

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