Economic inequality refers to the situation whereby wealth, assets or wealth are not distributed equally among individuals within a group, among some groups within a population or even among countries. Economic inequality is also described as income inequality, gap between the rich and poor, wealth and income differences and inequitable distribution of wealth. This issue of economic inequality can imply various notions such as equality of outcome, equality and the equality of opportunities. There exist differing opinions on the importance of economic inequality and the impact it has. There are some studies which have put emphasis on inequality as being a social problem. Whereas some inequality might promote investment, when it is too much inequality can end up being destructive. Though income inequality hinders long-term growth, it can also help long-term growth. Economic inequality differs between different societies, historical periods, and the existing economic systems and structures. This paper will…...

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References

Krugman, P. (2014). Why we're in a New Gilded Age. Retrieved October 11, 2014 from  http://www.nybooks.com/articles/archives/2014/may/08/thomas-piketty-new-gilded-age/ 

Domhoff, W. (2009). Wealth, Income and Power. Retrieved October 11, 2014 from  http://www2.ucsc.edu/whorulesamerica/power/wealth.html 

Madrick, J. (2013). Inequality is Not the Problem. Retrieved October 11, 2014 from  http://www.nybooks.com/blogs/nyrblog/2014/apr/24/inequality-not-problem/?insrc= 

Hacker, A. (2012). We're More Unequal than you Think. Retrieved October 11, 2014 from  http://www.nybooks.com/articles/archives/2012/feb/23/were-more-unequal-you-think/?insrc=rel

Economics of International Trade China
Exploring the Economics of International Trade: China

"Chinese international trade has experienced rapid expansion together with its dramatic economic growth which has made the country to target the world as its market," and its expansion has only continued to show powerful growth within the international economic marketplace (Sun & Heshmati, 2010, p 1). After China was reopened to trading with the West in 1978, the country has really took off in becoming one of the world's biggest producers and exporters of a plethora of different goods. China has grown tremendously as nations like the United States have become their biggest trading partners. In response, China has helped refuel this growth with the manipulation of their currency and their heavy investment in the U.S. dollar, which ensures them a more competitive position for their exports.

For generations, China had closed itself off to trading and interacting with many Western…...

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References

American Manufacturing. (2012). China and currency manipulation. Issues. Web. Retrieved September 4, 2012 from  http://americanmanufacturing.org/category/issues/china/china-and-currency-manipulation 

Barboza, David. (2012). Business and economy in China. New York Times. Web. Retrieved September 4, 2012 from  http://topics.nytimes.com/topics/news/international/countriesandterritories/china/business_and_economy/index.html 

Congress Quarterly. (1999). The consumer culture. CQ Researcher, 9(44), 1001-1016.

Manzay, Terrance. (2010). China export industry dominates worldwide. Article Snatch. Web. Reprieved September 4, 2012 from http://www.articlesnatch.com/Article/China-Export-Industry-Dominates-Worldwide/3853472#.UEZqYKNIuHY

The downward spiral of deflation, the collapse of countless banks and other financial institutions, and the unprecedented levels of unemployment all demanded that something be done.
The programs that constituted President Franklin Delano Roosevelt's New Deal were not entirely unknown in the pre-Depression world. Various European countries already possessed social welfare schemes to some extent, but in the United States this was largely new thinking. The changes wrought by the New Deal reflected as much the uniqueness of conditions during the Great Depression as they did the undercurrent of new attitudes and ideas that had gradually been taking hold among America's intellectuals.

FDR's planners acted in the context of changing values, an evolving set of institutions, shifting political and economic circumstances, and the ebb and flow of planning opportunities to create a distinctly national, American form of planning.... They were part of a wide-ranging national debate over how to create a…...

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Works Cited

DUMMY CITATION #1 G.M., Blaauw, G.A., and Brooks, Jr., F.P. "Architecture of the IBM System/360," IBM Journal of Research and Development, Vol. 44, No. 1/2, IBM, January/March 2000 [Reprint of IBM Journal of Research and Development, Vol. 8, No. 2, 1964.]

DUMMY CITATION #2 Anderson, Philip, and Michael L. Tushman. "Technological Discontinuities and Dominant Designs: A Cyclical Model of Technological Change." Administrative Science Quarterly 35.4 (1990): 604fl.

Gibbons, Jim. "Gibbons Tells Congressional Committee to Abolish Arbitrary FAA Retirement Age: Nevadan Calls Current Federal Rule, 'Blatant Age Discrimination.'" Press Release, (United States Congress, Washington D.C., 12 March, 2003).

Wilkening, Robin. "The Age 60 Rule: Age Discrimination in Civil Aviation." (No Date). URL: http://aeromedical.org/Articles/age60.html.

(Zinn 8)
Human societies within the context of civilization most always are organized into deference periods. The Constitution is a product of worldviews developed within such a limited paradigm, as paradigms tend to be, whether individuals -- including the Founders -- were and are aware of it. This condition, in part, touches on what Heilbroner frames as "The Unresolved Problem of Economic Power." He accepts that the wonderful free market system of Adam Smith is tainted by "giant oligopoly." The logic positing the market economy "as the servant of the consumer," therefore, might as well be null-and-void, but, still, "the emergence of these new attributes," Heilbroner argues, "can be seen as new functional mechanisms for the support of that system." (Heilbroner 18)

To make natural the influence of "giant oligopolies" to the free-market economy, Heilbroner borrows examples from the world of advertising and the manipulation of consumer wants. He admits that,…...

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3. Chomsky, Noam. (3 March 1993) Notes of NAFTA: "The Masters of Man." The Nation.

4. Zinn, Howard. (1980) a People's History of the United States. Boston: HarperPerennial

5. ____. (1997) Britain and America: Studies in Comparative History 1760-1970. Oxford: Oxford University Press.

economic basis of American cities change from colonial era to 1860 and why did it change.
here is little doubt that there were a significant amount of economic changes taking place within the fledgling United States of America from its inception during colonial time to the year preceding the Civil War, 1860. hose changes were widely facilitated by advancements made during the Industrial Revolution and those pertaining to the practice of chattel slavery in the southern portion of the country. As such, the economics for American cities reflected these two principle sources of change, which were also underscored by a chief point of division in American social, political and economic life up until the Civil War: the distinction between autonomy and states' rights and circumscribed freedom and a strong federal government. he reality is that the latter of these two choices were good for capitalism and for the U.S. As…...

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The true way that the economies of American cities changed was along the lines of labor sources. Because the cities in the south were populated by plantations and wanton, ruthlessly exploitative slave labor, the economic power was concentrated in the hands of a tiny few who were able to assert political power (especially at the federal level) to enact legislation that maintained slavery -- in new territories -- to keep them in economic control. In the North, however, the Industrial Revolution had spawned a manufacturing industry in which immigrant workers were able to make a living for themselves largely because they were able to stave off the process of cheap slave labor from populating these areas. What is interesting about these developments is that they conflicted with one another. The South's free labor from the backs of slaves was creating an unfair economic advantage with which the North could not compete. The plight of the Caucasian workers in the South -- in which they were marginalized and destitute because the wealthy plantation owners could forsake them in favor of cheaper slave labor -- was threatening to extend itself to the capitalist system in the country's north. Therefore, it is critical to note that the cutoff period for this assignment ends the year before the Civil War, since this martial encounter was largely fought to transform the collective economy of the nation's cities from one of agriculture to one of industry and to preserve the union in the process.

It is necessary to note the role that transportation played in the economic development of cities in the U.S. within the greater context of the changing labor supplies and their effects on both national and global capitalism. The Industrial Revolution helped to facilitate greater access to and means of transportation, particularly in the form of steam powered ships (which plied up and down the Mississippi River and in other parts of the country) and in terms of the railroad, which progressed increasingly westward. As a result, there were several terminus towns that sprouted up and came to become some of the country's most thriving cities such as Chicago, Cincinnati, and Buffalo. As a result of the railroad's foray into the western portion of the country, rudiments of the American system took place in which the West was used to supply raw materials for the North to refine and make into the finished products.

Essentially, the economies of American cities changed from the colonial period to 1860 due to developments in the Industrial Revolution and slavery which changed the labor supplies in the North and South of the countries. These changes resulted in a capitalist system which advantaged the South (with its free labor) to the disadvantage of the North -- which eventually resulted in the waging of the Civil War.

chief economic principle that must be confronted in the horrifying picture Steven Brill paints in "Bitter Pill: Why Medical Bills Are Killing Us" is the devastating effect caused by economic monopoly. Brill tiptoes around the issue, and basically defines monopoly by the concept of "powerless buyers" -- -but the economic conditions that render buyers powerless are economic conditions that restrict a buyer's freedom of choice, which is precisely the problem with American medicine in Brill's article. Doctors -- or by extension the Medical Industry -- represent a monopoly. There may be a plethora of pharmeceutical companies that exist, and which ostensibly compete under heavily regulated industries (which include a close government supervision on potentially monopolistic new inventions, such that copyrights and patents in pharmaceuticals are guarded under law for a mere fraction of the time that the copyrights and patents, for example, involved with Walt Disney's trademark cartoon character…...

orks Cited

Bardhan, P. (1997) "Corruption and Development: A Review of the Issues." Journal of Economic Literature 35: 1320-46.

Barro, R. (1996) "Determinants of Growth: A Cross-Country Empirical Study." NBER orking Paper No. 5698.

Barro, R., and Lee, J. (1993) "International Comparisons of Educational Attainment." Journal of Monetary Economics 32: 363-94.

Bhagwati, J.N. (1982) "Directly Unproductive Profit-Seeking (DUP) Activities." Journal of Political Economy 90: 988-1002.

Buchanan, J.M.; Tullock G.; and Tollison, R., eds. (1980) Toward a Theory of the Rent-Seeking Society. College Station: Texas a & M. University Press.

Campos, J.E.; Lien, D.; and Pradhan, S. (1999) "The Impact of Corruption on Investment: Predictability Matters." orld Development 27 (6): 105967.

Cheung, S.N. (1996) "Simplistic General Equilibrium Theory of Corruption." Contemporary Economic Policy 14 (3): 1-5.

Davies, B. 2001. "Making macaroni out of Marconi." Centaur Communications. [online] http://www.ideasociety.co.uk/marconi.htm

Easterly, ., and Levine R. (1997) "Africa's Growth Tragedy: Policies and Ethnic Divisions." Quarterly Journal of Economics 112(4) 1203-50.

The Economist (1999) "Honest…...

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Works Cited

Bardhan, P. (1997) "Corruption and Development: A Review of the Issues." Journal of Economic Literature 35: 1320-46.

Barro, R. (1996) "Determinants of Growth: A Cross-Country Empirical Study." NBER Working Paper No. 5698.

Barro, R., and Lee, J. (1993) "International Comparisons of Educational Attainment." Journal of Monetary Economics 32: 363-94.

Bhagwati, J.N. (1982) "Directly Unproductive Profit-Seeking (DUP) Activities." Journal of Political Economy 90: 988-1002.

Economic Integration of GCC Countries: Developments Since
Economic Integration of GCC Countries: Latest Developments Since 2010

It is important to examine the Gulf Cooperation Council (GCC) Key Economic Indicators. Primarily, 2014 Key economic indicators will present statistical information, which will seek to foster economic determination and engineer the determination of current and future performances. A collective economic indicator examines aggregate earning reports, list of economic summaries relating to this region and as well as, reflecting on various macroeconomic indices. This report will prove that the GCC (2014) economic indicators are collective in answering aggregate macroeconomic challenges. This study is a collective possible research leading to the construction of key economic indicators (2014) analysis as adopted by GCC partners. GCC economies have been growing tremendously in the past ten years. This study focuses solely on some of the serious economic developments and polices evident in the region in the past four years. These…...

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Work Cited

Al-Busaidi, Samir. "Modelling Macroeconomic Shocks in the GCC: Is Monetary Unification Viable?" Review of Middle East Economics and Finance 9.1 (2013): 1-36

Cevik, Serhan, and Katerina Teksoz. "Lost In Transmission? The Effectiveness Of Monetary Policy Transmission Channels In The GCC Countries." Middle East Development Journal 05.03 (2013): 1350018. Print

Espinoza, Raphael A, Ghada Fayad, and A Prasad. The Macroeconomics of the Arab States of the Gulf. 2013. Print

Espinoza, Raphael. Williams, Oral., & Prasad, Ananthakrishnan. Regional Financial Integration in the GCC. New York: International Monetary Fund, 2010. Print.

Power
Stone presents a model of power that identifies nonofficial and invisible types of power that are more important than visible electoral clout. Social capital, cultural capital, and economic capital are within the province of this invisible type of power. Specifically, Stone identifies several types of unofficial and invisible power including potential power, nondecision making, and anticipated reactions. Nondecision making is defined as "the capacity of elite groups to restrict the scope of community decision making," effectively "not making" decisions while effectively making decisions that are of great importance to the disenfranchised community and the individuals that comprise it. Stone also refers to contextual forces that impact the manifestation and usefulness of power, and conceptualizes "systemic power," which is defined as "the impact of the larger socioeconomic system on the predispositions of public officials," (979). Lukes presents his argument about power from the perspective of the oppressed. His research question is…...

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References

Arendt, Hannah. "Communicative Power."

Lukes, Steven. "Three-Dimensional Power." In Power: A Radical View.

Stone, Clarence M. "Systemic Power in Community Decision Making: A Restatement of Stratification Theory."

Economic Crisis
The revelation of the financial crisis that unfolded in United States in 2008 is considered to be the worst economic crisis since the Great Depression, 1929. The distinctive causative factors that have contributed to the U.S. economic crisis 2008- 2009 are differentiated by aggravated financial control, higher risks in capital investment, the housing bubble phenomena in relation to the brisk credit expansion. The aggregation of these factors in the U.S. economy directed the economy towards the de- leverage and credit crunches as the bubble burst. The following paper shall be discussing about the degree of correlation between the tax implications policies with respect to the financial crisis in U.S.. The precise review of strong linkages between the taxation and economic crises is the explicit explanation of the crisis that shook America. The paper also highlights the key factors that demonstrated their abilities and rescued U.S. In the economic crisis.

Introduction

The…...

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Reference

Carr, D.A. (2011). Responses to Local Fiscal Shocks: Path Dependency Effects of the Clean Air Act. Public Finance and Management, 11(2), 160+. Retrieved March 9, 2012, from Questia database:  http://www.questia.com/PM.qst?a=o&d=5050180027 

Hendrickson, J.M., & Nichols, M.W. (2010). Did Commercial Banks Close Branches in Low-income Neighborhoods in Response to the Cra? Implications for Understanding the 2007-2008 Financial Crisis. Journal of Legal, Ethical and Regulatory Issues, 13(1), 17+. Retrieved March 9, 2012, from Questia database:  http://www.questia.com/PM.qst?a=o&d=5044499375 

Johnson, E.M. (2010, April). Mr. Trust Buster. In These Times, 34, 7+. Retrieved March 9, 2012, from Questia database:  http://www.questia.com/PM.qst?a=o&d=5041402599 

Robinson, S.N., & Nantz, D.P. (2009). Lessons to Be Learned from the Financial Crisis. Journal of Private Enterprise, 25(1), 5+. Retrieved March 9, 2012, from Questia database:  http://www.questia.com/PM.qst?a=o&d=5037768696

Economic Crisis Policies
US current economic crisis is considered to be started from real estate sector. The real sector started to decline in 2006 and it accelerated in 2007 and 2008. Housing prices have fallen from the peak from about 25% so far. The decline in prices left homeowners with no option and they were unable to refinance their mortgages and causes default of mortgages. This default of mortgages and loans swallowed the banks and financial markets such as falling of Lehman's brothers and other anks and blow to rest of economy happened as the whole economy was relying on banks and ultimately it slows down investment in the country and capital flows to other parts of the world like China and India. ank losses cause reduction of bank capital which in turn requires capital reduction thus saving bank from lending. It is estimated that every $100 loss and reduction of…...

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Bibliography

ISR international socialist review. (2009, april). Retrieved from The U.S. economic crisis:causes and solutions:  http://www.isreview.org/issues/64/feat-moseley.shtml 

Journal of accountancy. (2009, october). Retrieved from The U.S. economic crisis: root causes and road to recovery: www.journalofaccountancy.com/Issues/2009/Oct/20091781

Eyes on wall street. (2011, april). Retrieved from Levin coburn investigates casues of financial crisis:  http://www.eyesonwallstreet.com/2011/04/articles/financial-crisis/levincoburn-report-investigates-causes-of-the-financial-crisis/ 

Rude, C. (2009). World Economic Crisis and Fed Reserve Response to it. Studies in Political Economy.

(Buchanan, 72)
The economic policy tools that were employed just after the war subsequently underwent some changes. From 1947 to 1950 direct controls on wages and distribution were eliminated followed by removal of trade controls in 1958. However, the government continued to maintain its hold over prices and credit distribution which made it different from many of its neighboring states in the postwar period. The French Ministry of Finance exerted greater control over the economy than the Bank of France. This led to a greater predilection to resort to devaluation when external equilibrium resulted due to the state failure to control incomes. In France, the period between 1945 and 1975 was known as the "thirty glorious years" because of the phenomenal economic performance. During this period, the average growth rate of GDP was around 6.8% which was quite remarkable considering that Britain's average GDP growth rate was 2.4% and Germany's…...

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References

Bathelt, Harald; Wiseman, Clare; Zakrzewski, Guido. Unit 1: Post-war development and structure of the German economy.

Buchanan, Tom. Europe's troubled peace, 1945-2000.

Wiley-Blackwell, 2006.

DeLong, J. Bradford. Grasping reality with both hands: A Fair, Balanced, Reality-Based,

Source: The Financial Forecast Center, 2009

Increases in unemployment rate mean that the gambling industry will be faced with fewer customers. This in turn will materialize in reduced sales and profits. If the situation continues to aggravate in the years to come, several players in the gambling industry might have to close their casinos. One must also notice the exceptional situations in which out of job individuals will gamble in the hope of winning some money. However, these instances are reduced and not able to modify the indirect relationship between the evolution of unemployment rate and demand for gambling services. Vice versa, when the unemployment rate decreases and the population enjoys more sources of revenues, the demand for the services of casino clubs increases.

2.3 Inflation rate (consumer price index)

The inflation rate represents the "percentage increase in the price of goods and services, usually annually" (Investor Words, 2009). Within the United States,…...

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References:

Ameristar Casinos Inc., Hoovers, 2009,   -- /free-co-competition.xhtml last accessed on May 8, 2009http://hoovers.com/ameristar-casinos/--ID__16260,FRIC__ 

Personal Income and Savings, iCharts, 2009,   last accessed on May 8, 2009http://www.icharts.net/portal/app?service=external&sp=Y37ayiM=&page=Chartdetail 

Investor Words, 2009,   last accessed on May 8, 2009http://investorwords.com 

The Financial Forecast Center, 2009,   last accessed on May 8, 2009http://forecasts.org 

Economics
If I was in Congress, I would not vote for such a tax. From an ethical perspective, such a tax is simply punitive. The oil companies are not strictly to blame if the price elasticity of demand for oil is low and they take advantage of that. Consumers have no inherent right to dirt cheap oil. The argument could be made that there are benefits to monopolistic profits such as further exploration, but that argument is actually a bit soft. First, drilling is already included on the income statement -- these are profits above and beyond what the companies need to sustain their business. And that is why they drill -- to sustain their business, so they're going to do it anyway. The reason you don't vote for such a bill has nothing to do with finding ways to make oil companies more profitable or less profitable; it is because…...

However, Bernanke remains unwilling to use his power to lift economic growth and reduce unemployment. One reason for not wanting to take active steps to speeding up the U.S. economic growth is a worry that the financial markets are fragile. So, it seems that the Federal Reserve are simply willing to accept high unemployment rates for years to come, instead of risking a perhaps worse situation of market panic, a rise in long-term interest rates, and even higher unemployment.
) Mulligan, Casey B. "Don't Fear Inflation, if it Comes," 2 June 2010. http://economix.blogs.nytimes.com/2010/06/2/dont-blame-the-next-inflation-on-politicians/?ref=economy

Inflation occurs when the demand for goods increases more than the demand for dollars and other related assets. Economists have no doubt that the significant deflation that occurred in the U.S. In 2008-2009 was the result of a "flight to quality," as opposed to a sudden reduction in the demand for goods and increase in demand for dollars.…...

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3) Mulligan, Casey B. "Don't Fear Inflation, if it Comes," 23 June 2010.  http://economix.blogs.nytimes.com/2010/06/23/dont-blame-the-next-inflation-on-politicians/?ref=economy 

Inflation occurs when the demand for goods increases more than the demand for dollars and other related assets. Economists have no doubt that the significant deflation that occurred in the U.S. In 2008-2009 was the result of a "flight to quality," as opposed to a sudden reduction in the demand for goods and increase in demand for dollars. However, economists agree that inflation will occur in the future if the demand suddenly shifts in the opposite direction. but, that is where the current debate lies. Some economists say that investors over the next years will continue to demand dollars, so future deflation is more likely. On the other hand, some economists predict that the government budget is unable to be sustained as is, given the multitude of promised public spending and a lack of desire or power to raise taxes. Overall, one can conclude that inflation has the potential to be a positive thing to hope for, seeing that it might be able to help alleviate some of the damage done by the housing market to wider areas of the economy (raising prices of homes and other articles).

4) Hook, Janet. "Big issues remain in financial

Title: Reasons Why the US is the Best Country in the World

Introduction:
The United States of America is widely regarded as one of the most powerful and influential countries globally. As an epitome of democracy, economic strength, innovation, and cultural diversity, several reasons make the US the best country in the world today.

1. Political Stability:
The US boasts a stable political system that upholds the principles of democracy and individual liberties. Its robust system of checks and balances ensures accountability and prevents the concentration of power, making it an attractive destination for both citizens and immigrants.

2. Economic Powerhouse:
The United States possesses the....

Title: Navigating the Crossroads of Authority: Exploring the Legitimacy and Limits of Power in Political Theory

Introduction:
At the crux of political theory lies the intricate interplay between authority and power, a dynamic relationship that has sparked debates and shaped paradigms for centuries. This essay delves into the multifaceted concept of legitimacy, interrogating the foundations of authority and the boundaries of power. Through a comprehensive analysis of historical and contemporary perspectives, we will explore the challenges and complexities of legitimizing power, the tensions between various sources of authority, and the implications for political practice and social justice.

1. The Sources and Foundations of....

No, America being great does not automatically mean that Canada is also great. Each country has its own strengths and weaknesses, and can be great in different ways. It is important to judge a country's greatness based on its own individual accomplishments and attributes.


It's also worth noting that greatness can be subjective and can vary based on what criteria you use to measure it. Some may argue that America's economic power and global influence make it great, while others may prioritize Canada's social welfare systems and quality of life.

Additionally, the relationship between the two countries is complex and intertwined in....

1. The Origins of the Kievan Rus' and the Emergence of a Unified Slavic State:

Explore the historical, cultural, and geographic factors that contributed to the rise of the Kievan Rus' state.
Analyze the role of the Varangians, Slavs, and other ethnic groups in the development of a unified Slavic society.
Discuss the significance of Vladimir the Great's conversion to Christianity and its impact on the state's identity.

2. The Mongol Invasion and its Transformative Influence on Russian Society:

Examine the reasons for the Mongol conquest of Russia and its devastating consequences on the population and economy.
Analyze the political and....