Political Economy
Say's law is that "production is the source of demand" (Investopedia, 2015). The idea is that when an individual produces a work, they receive payment for it, and then use that payment to purchase other goods and services. Say's law conveniently ignores savings, but even more importantly assumes that all goods have equal demand, and that demand will arise from nowhere for any good on the basis that it has been produced.
Say's law would fail to hold on these accounts. While there is some argument that Say's law may hold in the long run, in the short run there are all kinds of issues with its logic (EconLib, 2015). In a monetary economy, savings is certainly going to be one of those problems. Savings represent a drain on the economy, in that money is not being put into productive use. In the modern era, savings might be put into investments, the capital markets, and that would not represent a diminishment of Say's law. However, any money that is basically taken off the table is money that has been earned but is not being spent. If someone puts their paycheck under the mattress, proverbial or otherwise, that is a drain on capital...
International Trade and Comparative Advantage Because trade between nations is as ancient as mankind itself, there have been a number of theories advanced over the years to help account for why some countries seem to benefit more than others in the process. To this end, this paper provides an overview of trade theories according to Adam Smith and Ricardo to determine how free trade has adversely affected developing countries in general
Law Enforcement Interview Imagine studying the opinion of another law enforcement officer. What could one learn from that individual? Does he or she have any recommendations that are worth mentioning? How is discipline issues handled? One will discuss the various questions asked to Daniel Heinze with much analysis. Why are ethics and character so important in the field of law enforcement? Daniel (2011) believes that ethics and character is quite important in the
Contexts Law Should Karl, Sylvia and Gabrielle benefit and be protected by European Union law? You answer by reference to what is the law and also by reference to what you think should be the law? Law is defined as a system of certain rules, regulations, and guidelines which are generally made obligatory through certain institutions. There are different laws related to different social, economic, political, and business issues. For example
Role of Women in Law Enforcement Agencies Seminar type mini paper Gender discrimination has long been a topic of controversial debate. While much has been done about it in the U.S.A. And Britain, where many laws and regulations have been passed in order to encourage the participation of women in all fields irrespective of their being a female, there still are differences. These differences exist most specifically in areas that have traditionally been
In this regard, Lott points out, "Between 70% and 80% of police departments explicitly use norming of physical standards in their hiring practices. However, most of the departments that use objective standards do not enforce these rules. Women who fail to meet the absolute standards during academy training are unlikely to be failed out of the program" (p. 276). This lack of consistency in how these standards are applied
One of the reasons it is against the anti-trust laws to do this is because it places large businesses like Wal-mart and Microsoft at an unfair advantage because they have enough capital to get through lean times caused by below cost pricing long enough to drive the small business competitors out of business. Many states have laws against selling gasoline below a legal limit that is set by the government for
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