Category: Economic

The renowned economist, Friedrich Hayek, was born in Austria. In the world of economics, Hayek holds a special place as a central figure. He became a Nobel laureate in 1974 for his unrivaled contributions to economic science. The paper that will be discussed further is about the significant contributions of Hayek to economics, notably the…

Globalization has set in motion a process of far-reaching change that is affecting everyone. New technology, supported by more open policies, has created a world more interconnected than ever before. This spans not only growing interdependence in economic relations – trade, investment, finance and the organization of production globally – but also social and political…

The documentary Tapped exceedingly effectively presents bottled drinking water as the ‘poster child’ for the problem of externalities in economic discourse. Although the word has been around since the early 1800s, the identification and accurate measurement of effects of an economic activity that are external to the transaction itself or to the buyer and seller,…

Economic Data. Interest Rates (Greece Bank Lending Rate, n.d.) 3.94% (2020) Unemployment (World Development Indicators, n.d.) 16.9% (2020) Inflation (Greece, n.d.) 0.2% (2019) GDP real growth rate (World Development Indicators, n.d.) -8.2% (2020) Exchange Rates (Euro Exchange Rate – EUR/USD – Greece, n.d.) 1.00 Euro = $ 1.166 USD (2021) Exchange Rate Regime (Euro Exchange…

Table of Contents Introduction The nature and logic of capitalism according to Heilbroner’s analysis Conclusion Works Cited Footnotes Introduction The word capitalism is derived from the word capitale which evolved from capital meaning “head’. Most economists are of the opinion that the word capital became common during the 12th century. The term was used to…

France’s current issues The economic recession which has swept the entire world has not spared France. Having started in the US, the crisis was evident in France within the last few months of the year 2008 and early 2009. The financial crisis had much less impact on the French banking system as compared to most…

At the beginning of the 19th century, America’s fast and early economic growth was caused by a combination of factors, including unique geographical, cultural, and economic conditions. These conditions influenced modes of production through goals and belief systems. American society achieved stable forms of production and growth, provided important cases for thinking about the relations…

Description of the Issue Local economic development incentives constitute essential aspects of urban development economic policies. Such incentives are meant to enhance the development of cities that are considered underdeveloped. The enticements assume different forms. However, the common ones are the policies for providing tax incentives together with improvement of infrastructure (Anderson and Wassmer ‘Bidding…

Table of Contents Introduction Analysis and Discussion Conclusion References Introduction The paper discusses two articles on Economics and develops an understanding of how such articles are written, analyses the central theme, and also frames questions for the author of the articles. Analysis and Discussion Duchin (May 2007) speaks of how economists can collaborate to explore…

Table of Contents Introduction The usefulness of a Multiplier Income Multiplier Output Multiplier Employment Multiplier Value Added Multiplier Reference Introduction An economic multiplier is a figure used to approximate the economy-wide impacts of organisation-specific economic changes. Multipliers are generated from statistical or numerical models of a regional or national economy. Multipliers for every industry or…