Introduction: During the Great Depression in 1930s‚ the unemployment rate increased significantly that lead to many problems and changes in the world’s economy. John Maynard Keynes‚ a British economist‚ had come up with a solution which could reduce unemployment. He noticed that when people received a low amount of salaries‚ they spent less‚ fewer goods were produced and the economy would go down. Keynes suggested that the government should get involved to solve the problem. As of today‚ Vietnamese
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Eurozone unemployment and inflation both rise 01 March 2012 by Daniel Mason Eurozone unemployment rose to a record high in January‚ while inflation in the currency bloc has also continued its upward trend - a combination described by economists as "unpalatable" and a "double whammy of bad news". The jobless rate in the 17-member currency bloc was 10.7 per cent in January‚ up from 10.6 per cent in December‚ according to statistics published today by Eurostat. It means that‚ in January‚ there
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can come slowly through political reforms. Some critics believe there are advantages in capitalism‚ and wish to balance it with some form of social control‚ typically through government regulation. Democracy and political and economic freedom Economist Branko Horvat stated: "it is now well known that capitalist development leads to the concentration of capital‚ employment and power. It is somewhat less known that it leads to the almost complete destruction of economic freedom." Activists argue
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2003). Many people think that the word “Management” means the way how manager manage the business and those activity of getting things done with people within the business‚ but the fact is more than that. According to Fredmund Malik‚ who is an economist who focuses on management science‚ he defines the word management is “the transformation of resources into utility”. Another definition is “The art of getting things done through people.”‚ Which is defined by Mary Follett. For Mary Follett’s definition
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Levitt and Stephen J. Dubner’s purpose was to make the reader susceptible to the idea that there is a concealed yet obvious side of everything‚ if delved into enough. This purpose is useful in uncovering the conventional wisdom‚ a phrase coined by economist John Kenneth Galbraith. According to him‚ he believed that conventional wisdom “ must be simple‚ convenient‚ comfortable‚ and comforting - though not necessarily true”(Levitt and Dubner 86). But‚ what if someone wanted to know if some conventional
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outcome‚ does it matter? It is an important matter as peoples actions have effects‚ externalities on others‚ on third parties and it is significant to understand why people act the way they do and comprehend how this behavior is useful for lawyers and economists in their professions. In order to begin discussing whether people are rational a clear definition is needed. Being rational is classified as being consistent with or based on or using reason‚ rational behavior is a process of rational inference
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carrying out their basic economic functions in a lawful manner because the overall performance of a firm is to maximize the social benefit. Though economists could agree on the existence of corporate responsibility‚ they differ in the fundamental definition of these responsibilities. Conservative economists‚ such as Milton Friedman‚ claim that business is most responsible when it makes profit efficiently‚ not when it misapplies its energy on social projects‚ where as in contrast
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operation system called Da Vinci was used to remove a gall-bladder on a patient in the year of 2001. (The Economist‚ 2008‚ p. 23) In Cambodia‚ telemedicine is typically used in provinces in some resource-poor areas the same as in South Atlantic Ocean‚ too. The Cambodian villagers‚ especially those who live in Rovieng and Ban Lung‚ have been very grateful for the
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Market Failure and Carbon Prices Climate change has become an issue of global discussion and it is the result of market failure. The effects of the increasing volume of carbon dioxide and greenhouse gases on the global temperature have become a major environmental issue throughout the world. Carbon emissions worldwide need to be reduced in order to avoid serious climate change. To encourage companies to invest in cleaner technology and reduce carbon emissions‚ the government has to attach a cost
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they see themselves on top of the world hierarchy. Having this in mind and the fact that ‘British politicians and officials never had any intention of joining the nascent moves towards a European union in the 1950s’ (Not Playing Their Games‚ The Economist 2010)‚ it seems that Britain is only in the EU only of necessity and not of their own will. I know that this could be an overstatement‚ but when looking into some of the texts read before writing this essay I have stumbled upon multiple arguments
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