Macroeconomic stability free essay sample

Keynesian approaches in achieving long run macroeconomic stability The two schools of economic thoughts have different perspectives on how macroeconomic stability can be achieved. Keynesian economics became prominent when John Maynard Keynes introduced the concept of active participation of government in stabilizing the economy. This was because the private sector alone was not able to sustain stability due to inefficiencies in the free market philosophy that was the premise of classical economics. Keynes advocated two important policy models that would ensure continuous macroeconomic stability and is based on interest rate policies, tax policies and spending during different times to smoothen the business cycles which are responsible for macroeconomic instability (Roncaglia, 2011). These policies are known as fiscal and monetary policies and its objectives are to ensure stable prices, reduced/stable inflation rates, employment and production. Keynesian theorists can achieve macroeconomic stability by use of expansionary fiscal policies during economic downturns like in 2008. Interest rates should also be lowered to increase money supply and consequently increase the aggregate demand. The two Keynesian approaches help stimulate the aggregate demand during economic crisis. During times of boom, interest rates should be increased and taxes increased in order to reduce the money supply in the economy to avoid runaway inflation. Keynesian economic policies ensure that aggregate demand, employment, prices and production are maintained at stable levels with minimum fluctuations. Keynesian theorists also have various ways of achieving this goals through both the government and the central banks which have the mandate to use such policies. Monetarists approach in achieving macroeconomic stability Monetary theorists subscribe to the monetarism concepts which consider the role of governments in controlling money supply as the best solution to achieve long term macroeconomic stability. Milton Friedman is one of the prominent monetarists who argue that the economy is dependent on the supply of money in the economy. Therefore in order to achieve macroeconomic stability over time, governments need to constantly increase the supply of money. The supply of money however should be relative to the GDP of the economy because the supply of money directly affects any variable related to output. These variables are employment and prices (Ardalan, 2011). A common perspective in policy is to increase money supply. This calls for reduction of interest rates by central banks such that commercial banks and other financial institutions can access money cheaply from the monetary authority. This will lead to an increased borrowing from households and businesses (Lulla, 2009). On the part of households, aggregate demand will tend to increase thus sustain a stable supply side of the economy. On the other hand, increase in money supply increases investments by businesses and thus helps increase employment. The monetary policy of lowering the interest rates also can be directed to government securities. This is where the return on risk free treasury bonds are lowered such that people do not buy the so much but rather chose to spend the money. The effects is that demand will increase as well as private investments and thus high productivity and employment. These approaches however are not very sustainable since it easily can lead to inflation due to technicalities in computation of the appropriate rate of increasing money supply over time. Impacts of persistent budget deficits on the trade deficit and its remedies Budget deficit refers to the negative difference between the total governments’ revenues in terms of tax and it expenditure calculated within a fiscal period. The budget deficit is not considered a good sign since it means the government is spending more that it collects through various activities (Rossi, 2010). On the other hand the trade deficit refers to the negative balance between a country’s net exports and imports. Budget deficit in itself can be problematic because it means that the government is borrowing more to cover the budget. This means that the economy is constrained by lowered growth due to steps taken to fill up the deficit. Budget deficit means that government increased its expenditure and reduced it tax collection and to fill the deficit, it has to borrow from the public or increase its tax. Borrowing through sale of attractive government securities will result to crowding out effect in the private sector. Printing money to finance the deficit will lead to inflation. This therefore means that a sustained budget deficit has serious implications on the economy and the open economy will also be affected. Trade deficit represent the open economy in terms of exports and imports. Sustained budget deficits will lead to reduced imports if the government decides to increase taxes and cut its spending. On the other hand, the use of treasury bonds to borrow money reduces the demand for exports since the attractive interest rates shifts focus of foreign importer to the securities and not the local products being exported (Weerapana, 2003). This leads to a decline in exports in the long run if the budget deficit continues. The remedy to this challenge is to pursue a continuous policy that reduces borrowing from public, reduces government expenditure and increase tax to reduce budget deficits which tend to increase trade deficits over time. Reducing trade deficits can also be approached when there is increased national savings. In most cases, households save more in anticipation of future changes in the economy. Households will also save in order to pay taxes which they consider are deferred when there are huge budget deficits. Increasing taxes when national saving will therefore help reduce the trade deficits because it increases exports and reduce imports. Supply-side economists and government deficits Supply side economists believe in increasing the supply of goods and services as a way of taming various macroeconomic problems. These economists argue that there are several barriers to production of goods and services and if these barriers are removed or reduced, production will increase and prices will stabilize. Primarily, they identify taxes and too much regulation as a big challenge to economic growth and productivity. Increasing tax reduces the economic exchanges between agents in an economy since it takes away a proportion of profits earned. This leads to low demand and also low supply and higher prices which may discourage consumers. However, reducing tax rates increases investments and consumption alike (Rossi, 2010). Similarly, supply side economists argue that reducing regulations affecting the various economic processes increases the rate of economic activities and more investments. This view however conflicts with the running of the open economy. Reduced tax rates means government revenues against its spending declines leading to budget deficits and therefore the supply side economists do not provide the much needed remedy to economic growth. Their view is thus not adequately considered exports and imports and their implications on budget deficits. This is because when tax rates are lowered on income and capital gains, people will have lots of income to consume and consequently increase demand for imports. Although domestic production may increase, demand for imported goods will tend to rise. Similarly, the demand for imported goods will weaken the local currency due to high demand for foreign currencies and thus creating a huge budget deficit. It is also observed that the supply side economics also might not consider increasing tax even when national savings increase due to high income levels which will see extra income being saved more than it is invested. National economic policies and the magnitude of the trade deficit The US deficits have been rising in recent years due to policies that clashed with economic growth. For instance, the medical insurance program commonly known as Medicare/Medicaid has been heavily financed while revenues for the government reduced. This health policy is one of the national policies that contribute to the growing deficits. Income tax revenues from individuals have fallen by 3. 5%GDP while the tax from payroll also decline by 0. 8%GDP in 2011. Tax cut policies during and heavy financing of military activities have pushed the deficit gap even wider after the great economic recession. The recession complicated efforts maintain tax revenue collections and maintain exports at previous levels. The growing support for unemployed Americans after the crisis also lead to further deficits. The US economy has also been seen to depend highly on debt to fill its budget and resulted to China being the biggest holder of US debt. However, the US is pushing forward policies that will see increased national savings and pushing for China to allow flexible exchange rates system. Budgetary reforms also form core policy options to deal with the deficit crisis. Protectionist policies: its benefits and impacts on trade deficits Protectionism is the economic practice that employs strategies to cushion domestic industries from competitive foreign firms. Countries often want to ensure that their local industries grow and make profits. However, with international trade and globalization growing rapidly and inevitable, there need to be measures taken to ensure protect the local firms from competition. Most of protectionism policies include tariffs, environmental legislations, import quotas, export subsidies, exchange rates policies and other policies that favor local industries and put some pressure on the imports and foreign firms. Tariffs are basically tax rates that are subjected to goods imported. On the other hand, legislations like anti-dumping laws, standard settings and many compliance certifications imposed on imported goods are meant to control the consumption of imports (Rossi, 2010). These policies help governments to improve local consumption and growth of industries in order to compete with other international firms. The impact of these policies is reduced or controlled imports and somehow increases exports. It is however not sufficient to boost exports since almost every country also practices some sort of protectionism in international trade. Nevertheless, a protectionism policy helps to boost trade balance since it restricts unnecessary imports. Countries like the US whose trade deficit and budget deficits are high are employing policies that have been criticized to be protectionist in nature (Russell, 2013). These policies are sometimes hard to identify as protectionist. China’s pegging of its currencies against other currencies has been labeled as protectionist despite being acceptable in the global money market. Countries like US can however consider protectionism to tame the rising demand for cheaper imports from china.

Ethics and Values in My Life free essay sample

There are many values that revolve around my life for a better life, but the 5 important ones are: 1. Integrity   Do the right thing! This is the most import value and I consider it to be the foundation of achieving a better life. 2. Courage-  Face your fears accept and take on new challenges. The moral and mental strength that allows for the acceptance of new challenges without regards to the fear that may lie beneath. 3. Contentment   The pursuit of contentment is a state of mind established by fulfilling your basic needs. Action- Do not wait until tomorrow when it can be accomplished today. 5. Respect  To treat people as you would like to be treated. I operate on two value systems in my professional life. This is not necessarily a negative approach since they don’t conflict with each other in fact, they go hand in hand. I believe that your personal values drive your professional values. We will write a custom essay sample on Ethics and Values in My Life or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page You don’t just develop professional relationships in a work environment but informal relationships too and sometimes they can be more important as it can drive people to take decisions for the benefit of the organization. For example, having good ties with your direct subordinates can help to retain employees. One can’t always put a price on a comfortable business environment and it maybe the reason workers remain loyal to the organization. In another instance, to achieve contentment one works hard to have access to basic needs and that means doing your job well which is in line with professional competence at work. Before I took admission in the MBA program, I worked as a business partner of a small clothing business in my country. My partner was a good friend and my decision to start a business with her was her commitment to providing unique designs of clothes that maximized customer satisfaction. I often thought of expanding the business but she decided to grow slow as fast expansion can often be uncontrolled and it can cause compromise on quality. Although I agreed with her premise, I thought it could be done in a harmless way. I was approached by an acquaintance who offered to supply cloth for our business. I jumped to the idea as one part of expansion was to build a strong supply chain. I discussed the idea with my business partner who was interested but pointed out that we can’t just take this decision because I knew the potential supplier personally. We have to carry out research before we make a decision since we can’t risk our business and the money of our two investors. While we tried to establish an idea of the reputation of the supplier, I was offered generous gifts by her and was tempted to take her offer because I assumed her principles and commitment to perfection on the basis of what I knew of her past. She also offered to invest in our business which was a very attractive offer. A person who had a personal stake in the business would ensure best standards of operation. From what we got to know about her business was that it supplied cloth of not very good quality, which would affect the quality of our product and could bring disrepute to the business. This actually challenged one of my value ‘objectivity’. For the benefit of our business, I was required to be objective and not let her gifts to cloud my judgment. This was in line with maintaining integrity since we had a customer base that trusted us and we were required to deal fairly with them. It required courage on my part to reject her offer but it was what I needed to do for the benefit of the business and its stakeholders. I am actually very content that I was able to stand firm and did not throw away my beliefs just for some material gains.

Sample Essay on Biographical Milestones

Sample Essay on Biographical MilestonesAn example of a sample essay on biographical milestones is quite easy to find online. A sample must be reviewed and not a defined list of topics. It should be more of a guide, not the only piece of a completed essay. A sample might include things like your name of the person who will write the essay about you.These samples are only one piece of the puzzle. The sample must be developed in a way that it can be adapted for an essay. Some people will use these samples, but then would like to change them to fit their needs.The best part about these samples is that they have been gathered from other people who are already writing about what was important to them. You can use these samples as a base of inspiration and build your own piece on top of it. If you are able to do this, you will be able to write a great sample essay on biographical milestones.The two samples that I have chosen are variations of the same story. Both examples are written about someone who was born in 1943, but the writing styles vary.The first example has the person as a younger person telling their own life and what made them successful. The life-changing experience was a trip to the Grand Canyon, which this person did every year. The second example is written by the older person that they interviewed, describing his or her personal life.Both of these samples are a good example of how to write a good example of a sample essay on biographical milestones. They both share similarities and differences in the topics that they cover, but they are written with different uses in mind.In the younger person'sstory, they are describing their successes, while in the older person's story, they are discussing what happened to them in their personal life. Both are written about someone who was born during WWII. These two people were not the same person.Interviews are used in many different places. A sample essay on biographical milestones can be made out of an intervie w. Once you have your interviews, you can use them to make your own writing style.

Materials for Interiors Wood

Hardwood Wood is the oldest construction material known to humanity. Before man had made advances enabling him to use brick and mortar, wood presented the viable stating place because of its relative abundance and ease of working.Advertising We will write a custom research paper sample on Materials for Interiors: Wood specifically for you for only $16.05 $11/page Learn More Almost all cultures have a history of working with wood for various applications. In ancient times, the Chinese stand out as experts on wood technology. However, all civilizations claim equal stake in developing wood applications in their localities. Hardwood grows naturally in different parts of the world. It is the main raw material for hardwood flooring. Woodcutters obtain the wood from forests and saw it into planks for use as a flooring material. Natural properties of wood limit the size of each plank because wood naturally expands and contracts when there are variations in tempe rature and humidity. Wood grows naturally in most parts of the world. Different climatic conditions favor different species of wood. Therefore, each continent has certain species unique to it, classified as either hardwood or softwood. In general, hardwood provides a more durable material because of its density and best fits as a material for wooden floors. It take longer to mature thereby making its sustainable management more difficult compared to softwood. Wood is a renewable resource. Hardwood trees take much longer than softwood trees to mature. This makes their sustainability more difficult to establish compared softwood trees. Nevertheless, with good management, hardwood stocks are a sustainable resource that can last for many generations. In the world, America has the best sustainability practices for its hardwood stocks (American Hardwood Export Council). Wood is sustainable because it is possible to grow them afresh after harvesting. â€Å"The U.S. hardwood sawmilling and processing industry, the largest in the world, depends upon the hardwood forests of the United States for the widest range of temperate hardwood species in the world† (American Hardwood Export Council).Advertising Looking for research paper on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Hardwood forests constitute forty percent of all forest cover in the United States. The forests provide raw materials for different applications including flooring. The species used for making hardwood-flooring boards include, oak, walnut, pine, cherry, teak, and maple. The possible applications for any type of wood depend on its density and its physical appearance. Denser woods provide an ideal material for heavy uses such as flooring on high traffic areas, construction of external doors and durable furniture among others. Softwood trees on the other hand lend themselves for use as materials for lighter uses. While softwood timber i s useable for flooring, it wears out faster making it is less attractive as a flooring material. The installation of a wooden floor is a skilled job. They key pre-installation advice is, â€Å"store flooring where it will be installed† (Peterson Engel 15). This ensures that the wood adapts to the humidity in its surroundings. Otherwise, the floor may buckle if the wood has lesser humidity during installation, or it may develop gaps if it has at a higher humidity. Asphalt felt, put between the flooring base and the wooden flooring, provides appropriate protection from humidity for the wood. The wood may be pre-finished or requires finishing after installation. Comparison of Hardwood and Bamboo Flooring One of the materials very similar to hardwood applicable to flooring is bamboo. Bamboo is actually a grass or reed-type plant and not a wood despite its classification as a type of wooden floor. It has very good sustainability credentials because it regenerates after five years and its cultivation results in very little environmental damage. The comparison of wood and bamboo brings to the fore some of its superior natural qualities. Bamboo â€Å"offers both hardness and resilience and is both dimensionally stable and moisture resistant† (Bonda Sosnowchik 133). Compared to maple, its hardness is thirteen percent higher, while it exceeds the hardness oak by twenty seven percent. Bamboo has much better moisture resistance because of its natural structure.Advertising We will write a custom research paper sample on Materials for Interiors: Wood specifically for you for only $16.05 $11/page Learn More Cost, availability, durability, and ease of maintenance influence the choice between hardwood flooring and bamboo flooring. Depending on the production process, the cost between the two materials may be significant. Bamboo offers better durability especially for heavy use areas while it also requires less maintenance because o f its resilience. However, depending on preference, wood provides more options for design in terms of color, finishes, sizing, and remains more adaptable than bamboo. Hardwood flooring and bamboo have the same maintenance requirements. They require vacuuming after the removal of loose dirt. Good maintenance practice requires the immediate drying of water or liquids that spill on them. New finishing coats and polishing may be necessary from time to time to maintain their natural look and ensure their long-term protection. The main advantages of hardwoods are flexibility of design and variety. Since hardwoods come in large pieces, their shaping may be into any number of shapes and sizes, within design limits. They do not handle humidity changes very well though. Bamboo on the other hand has very attractive natural qualities with good moisture resistance and admirable durability. The main limitation of bamboo is that its natural shape is very limiting to design. Works Cited American Ha rdwood Export Council. U.S. Hardwood Species. 2002. 19 March 2010 https://www.americanhardwood.org/en/american-hardwood/. Bonda, Penny and Katie Sosnowchik. Sustainable Commercial Interiors. New York, NY: John Wiley and Sons, 2007.Advertising Looking for research paper on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Peterson, Charles and Andy Engel. Wood Flooring: A Complete Guide to Layout, Installation Finishing. Newtown, CT: Taunton Press, 2010. This research paper on Materials for Interiors: Wood was written and submitted by user Nathanael R. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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First Anglo-Chinese War Essays

First Anglo-Chinese War Essays First Anglo-Chinese War Paper First Anglo-Chinese War Paper How do you understand the nature of the First Anglo-Chinese War (1840-42)? The First Anglo-Chinese War broken out in 1840-42. it was a war to show about the reaction of China to the Western country. Before First Anglo-Chinese War, China was a closed country, but after the War, the door of China became to opien. So the First Anglo-Chinese War was very important in Chinese History. But why the First Anglo-Chinese War broken out? What is the nature of the First Anglo-Chinese War. To the nature of the First Anglo-Chinese War, some people said that it was caused by opium trade.But in my own opinion, the First Anglo-Chinese War was more suitable for the name of the commercial war. Traditionally, British look the trade as very important. Most of the war that British declared just because of trade. In 17th centry, British were already trade with China. The British buy so many tea and silk from China and just sell a little of cotton to China. It made the disbalance of trade. Britain lost money for every year. So in order to change this situation, British demanded China to open more trade port to do the trade. And also cancelled the Gonghong policy, let the British merchant do the free trade in China.But to China, traditionally China did not look trade as important. : Because Chinese thought that they use agricultural to build the country. also Chinese thought that to trade with foreigners are the policy of favour to the foreigners. It was a gift, so the foreigners could demand any more to China. So China refused all the demand about British. Sin order to open Chinas market and make the British merchant could do the free trade in China, the only way to solve was use war to force China to open her market. Some people argued that the First-Anglo Chinese War was a Opium War. It was because Lin-Zixyu flow all the Opium.The British government fight with China because Chinese government made British lost in the Opium. However, the opium trade still not a main reason to make British to fight with China. It is because British government knew that opium was not a moral thing. So British government would not fight with China just because of the opium. Although British earned a lot of silver. In the opium trade, British government thought if China could open her market, Britain must earn a lot of money too. Because opium was not a moral thing, so if the British could made choice, they wont see opium to China.Moreover, if British government really treat opium important, then why British government did not demand China in Treaty of Nanijng to make opium become legal. So we can see that the First Anglo-Chinese War were mainly caused by the ordinary trade, but not the opium trade. Also some people said that if opium were replaced by cotton, the war still would broke out. I agree on this. because opium just as an excuse to force China to open her market. Whatever opium or cotton, the only aim for British were opened Chinas market. Some people said that the nature of the First Anglo-Chinese War was different cultural.Yes because of different cultural, like China treat trade not important, but British treat trade important. Also China treat foreigners as barbarians, they did not respect to British and different law between Britain and China. But every years, although the different cultural, there were still a lot of merchants went to China to trade. We can see that the British could earn benefit from the trade. So they didnt mind any different cultural. The only think they would consider was how to earn money. Some people said the nature of the First Anglo-Chinese War is diplomatic problems.Because the emperor of China didnt respect to the British missionaries. The Emperor need the missionaries to kowtao to him. It made the missionaries very angry. However, if the British really mind about the diplomatic problems, why they still modified to kowtao to emperor. And sent three not one missionaries to China. Also the three missionaries came to China just to talk about trade between Britain and China. To conclude, the nature of the First Anglo-Chinese War only have one. It is the commercial trade. If the trade between China and Britain could become better, their will be no First Anglo-Chinese War.

Leader Essay Example | Topics and Well Written Essays - 500 words

Leader - Essay Example - one of the most critical of all. During the game, we had been steadily falling further and further behind our opponents, and as their score continued to rise with ours to no avail, the spirit of the team began to drop. It was painfully obvious that the mood was changing from one of hope and passion to that of upset and frustration. I knew that we could not give up, and began to push my team. I tried to raise spirits, and get everyone motivated, using my personal motivation to inspire the others. I knew how critical this game was, and this is what drove me most of all. I knew I had to step it up myself before anyone else would, and so I began playing harder and stronger. I became more aggressive, and my actions wore off on the others; they saw how motivated I was, and how unwilling I was to just give up, and it seemed to give them that enthusiasm which they had needed so crucially. I was actually surprised at how quickly the effects were seen, it was as though immediately the mood changed, and the team began playing better. As an end result, we won at last. A leader is literally considered to be "a person who rules or guides or inspires others." ("Wordnet", n.d.). I believe that on this occasion not only did I rule, guide, and inspire others, but I also earnestly learned what it meant to be a leader.

What did the French Revolution achieve for the bourgeoisie in terms of Essay

What did the French Revolution achieve for the bourgeoisie in terms of liberty - Essay Example The aristocratic revolt of 1787 to 1789 happened at a time when members of the Third Estate were an oppressed group. They considered themselves discriminated in terms of the political, legal, and social perspectives. Though he seldom did so, the king could give lettres du cachet on his opponents in politics and imprison them without trying them. The feudal overlords compelled peasants to abandon their homes and fulfil the hated corvee, a form of unpaid labor. The ecclesiastical and seigniorial courts imposed the death penalty on the less privileged without allowing them the right to appeal. As such, torture was a common activity during that time, and it targeted the less privileged. The desire for change drove the people to revolt against aristocratic leadership with all forms of persecutions. The first was liberty from over taxation at the expense of the rich. Before the revolution, the tax systems spared the wealthy members of the society and left out the rich. Such an idea gave the weak hints that the power regime treated them unfairly (Jones 154). Soon after the revolt, all people became equal before the law. Another factor is the consideration that job opportunities were available to all individuals based on merit and not according to class. Initially, there existed a system where only the affluent class could secure job opportunities. It, therefore, means that the feelings of discrimination that formerly existed started to fade away. There was also an abolishment of the old feudal system of governance, and a more flexible system replaced it. The clergy and the aristocracy ceased being the most prominent in the society as they had initially enjoyed. Instead, the bourgeoisie assumed the position of the most influential group of people in France. The system of governan ce became a basis of democracy in many other countries who copied from France