Keynesian Economics vs. Classical Economics free essay sample

In economics, there are two main theories: Keynesian economics and Classical economics. Each approach to economics has a different take on monetary policy, consumer behavior, and last but not least, government spending. Let us first look into classical economics. The basis of the Classical Theory of Economics is self-regulation. Supporters believe that the economy is able to maintain its-self and is always capable of achieving the natural level of real GDP. While circumstances do occasionally arise that effect the economy, causing it to fall above or below the natural GDP level, self-adjusting mechanisms are believed to exist. The belief that prices, wages, and interest rates are flexible and Say’s Law are two of the classical economists most firmly held beliefs. Say’s law basically states that the economy is always capable of demanding all of the output that its workers and firms choose to produce. Hence, government intervention is not needed. We will write a custom essay sample on Keynesian Economics vs. Classical Economics or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Generally, political liberals would side with Classical economics. Keynesian Theory rejects Say’s Law of self-regulation and suggests that the relationship between aggregate income and expenditure is key. Keynesian believers agree that government should step in and implement policies that will regulate the economy more efficiently. Typically political conservatives would agree with the Keynesian Theory. Were I a policy maker receiving conflicting advice, I would consider all aspects of the issue including equilibrium real GDP, employment, and prices. Money is measured in different ways, mainly focusing on the liquidity, or how easily and quickly it can turn into a spendable form (Ayer Colligne, Pg. 328). There are three main measurements; M1, M2 and M3. M1 represents the most liquid form of money and consists of the sum of currency and coins in the hands of the public, demand deposits, checkable deposits, and travelers checks. M2 is the sum of M1 plus the balances in savings deposits and balances deposited into money market mutual funds. Lastly, M3 is the summation of M2 plus large time deposits (greater then 100k), and several other near monies Ayer Colligne, Pg. 328-329). Expansionary monetary policies are fiscal policies that encourage economic growth. The deposit multiplier is a value representing the ratio of bank reserves to bank deposits. If bank reserves increase, bank deposits may increase by the amount of the increase times the deposit multiplier (Ayer Colligne, pg 257-328). Balance of payments accounts are an account of all transactions (monetary) between a country and the rest of the world. The BOP includes two sub accounts: the current account and the capital and financial account. The current account is adjusted for international incomes and transfers and records the monetaty value of imports and exports (both goods and services). The capital and financial accounts records the monetary value of capital inflows and outflows, and any financial investments (purchasing of stocks or bonds). The BOP must have a balance that equals zero (Ayers Collinge, pgs 378-380). The balance of payment accounts is very important to economic growth because it encourages international trade and hold each country accountable for fiscal policy. International commerce can increase the country’s consumption, however not all share in the gains. The majority of the economy benefits from international trade, but some people will end up losing due to job opportunities lost, migration, and eventual inflation/deflation, or market uneasiness.

Would You Rather, an Icebreaker Game for Adults

Would You Rather, an Icebreaker Game for Adults This party game is perfect for use in the classroom, at a seminar or workshop, or any gathering of adults. Its easy and lots of fun. Would you rather be bald or completely hairy? Give your students impossible questions to answer and help them ease into learning together. Why Use Ice Breaker Games? Icebreakers are important tools for teachers of adults.  If youre teaching adults, you know they learn differently than children. They come to the classroom with a lot of life experience, some more than others, of course, and some of them bring wisdom, too, depending on their age. When you begin a new class or start a new lesson, an icebreaker game can help your adult students feel more comfortable participating by getting them to laugh, helping them to meet fellow students, and relaxing everyone. Have fun. People engage in learning more quickly when the experience is fun. Starting a session or a lesson plan with an icebreaker can help your adult students focus on whatever you have gathered to learn. Instructions The game takes 30-60 minutes, depending on the size of the group. Break large groups into smaller groups by counting off if you have less time for this exercise. Give the participants a minute to think of a Would You Rathe question. Give some examples. There are published Would You Rather books and game cards available for sale if you have the budget to purchase them, but once you get going, you can easily make questions up yourself. If your group does not seem creative at all, you can always print handouts with question ideas and let your students choose from the list. Introduce yourself and ask the first person your question. Example: My name is Deb, and I want to know if you would rather speak to a large group or hold a snake. After the person answers, he or she should give their name and ask the next person their question. And so on. Save time for laughter and explanations if appropriate! Depending on the purpose of your class or meeting, ask participants to come up with a meaningful or thought-provoking question. If you use this game as an energizer, encourage people to just be silly. Debriefing Is Not Necessary No debriefing is necessary unless you’ve asked the group to come up with questions related to your topic. If so, some of the choices probably inspired some remarkable responses. Choose a few to discuss further or to use as a lead-in to your first lecture or activity. This icebreaker game makes a good warm-up exercise for adult education lesson plans. Would You Rather Ideas If you need some questions to get the game rolling, start with these and see if they inspire others: Would you rather play Monopoly or chess?Would you rather have super hearing or x-ray vision?Would you rather be good at drawing or singing?Would you rather be a cat or a fish?Would you rather be Catwoman or Wonder Woman?Would you rather babysit a couples child or their dog?Would you rather go one year without TV or without reading books?Would you rather attend a big party or have an intimate dinner with a few friends?Would you rather lose your hearing or lose your sight?Would you rather be able to breathe underwater or fly?

Communist Manifesto Scholarship Essay Example | Topics and Well Written Essays - 2000 words

Communist Manifesto - Scholarship Essay Example However it was his biggest fear. The demand of the consumer, the machines and computers could be best described as the nightmare of labor in Marx vision. Marx calls it the feudal system, the system that works on demand. "This industrial revolution was precipitated by the discovery of the steam engine, various spinning machines, the mechanical loom, and a whole series of other mechanical devices. These machines, which were very expensive and hence could be bought only by big capitalists, altered the whole mode of production and displaced the former workers, because the machines turned out cheaper and better commodities than the workers could produce with their inefficient spinning wheels and handlooms. The machines delivered industry wholly into the hands of the big capitalists and rendered entirely worthless the meager property of the workers (tools, looms, etc.). The result was that the capitalists soon had everything in their hands and nothing remained to the workers. This marked the introduction of the factory system into the textile industry." The computer today can be seen as the new machinery that drives the 24 hour economy and makes labors slaves again in using them. The world is small due to the internet and computers. Imperialism itself in the wealthy countries like the US drive the economy. The world market demand can be done in a minute now. 2. Who are the Bourgeoisie Where did they come from and where are they going (4,5,24) Are they still around Do you know any Best to be named are the bourgeoisie as the rich and powerful top layer of society who had the money to build the factories. Due to "old money" nobles and gained money from profit. Bourgeoisie, one of his arguments is so powerful, that Marx claimed they where out of control. They came from the Feudal society according to Marx still with class antagonisms, with the establishment of new classes, conditions of oppression and new forms of struggles. Marx describes in his book exactly why this is not good. He states in his words: "Our epoch, the epoch of the bourgeoisie, possesses, however, this distinctive feature: it has simplified the class antagonisms. Society as a whole is more and more splitting up into two great hostile camps, into two great classes, directly facing each other: Bourgeoisie and Proletariat. The monthly review states the bourgeoisie as follows: "The class of big capitalists, who, in all civilized countries, are already in almost exclusive possession of all the means of subsistence and of the instruments (machines, factories) and materials necessary for the production of the means of subsistence. This is the bourgeois class, or the bourgeoisie." According to Marx they came " From the serfs

Organisations and Behaviour Essay Example | Topics and Well Written Essays - 2750 words - 1

Organisations and Behaviour - Essay Example Decision making is something that keeps the organization active and flourishing while adapting the uncertainties in the environment. The process of Decision making gets heavily influenced by the rate at which the information travels and the number of members it can reach inside an organization. These two factors are generally considered as less positive in a hierarchical structure of an organization. Today the trend of participation of the workers in the decision making process is significantly dominating the markets. According to Frederick Winslow Taylor who is regarded as the Father of Scientific Management, the management of the firm should organize the work in a manner which will make optimum use of the workers, by dividing the work and introducing efficient methods for making a product. Taylor’s concept focused mainly on hierarchic organization structures and task specialization. Taylorism states that there is a best way for each task and it can be learnt through proper t raining and development. (Asseldonk & Vos, 2007, pp. 1-3) The theory of Taylorism represents a mass production system. This theory views the workforce simply as machineries which can be made efficient by the reduction of wastage. However, this theory completely neglects the usual complications that happen within a normal human being. Hawk Car company continuously followed conventional production methods as was proposed by Taylor’s theory. The workers used to follow an assembly line production process where each one had to perform a specific job. Job specialization created frustration among the workers. Their job became monotonous. For example, the worker who used to fit lights into the vehicles, continued to fit lights for his whole work life. He never knew how to fix the seats in a car. As a result the workers felt lazy and de-motivated with their work. Also the hierarchical system in the management treated the workers as costs. Their opinion or suggestion was not at all con sidered to be important. Due the hierarchy structure of the organization, the workers felt uncomfortable speaking to their managers about their discomfort. The relationship between the manager and the workers followed the authoritative style where two way communications was never entertained. The higher level employees only used to give directions to the workers and the supervisors only had a close watch on their works. No one bothered about the grievances of the employees. (tiplady.org.uk. n.d, pp.1-2) also the standardized form of production failed to meet the market demands. Taylorism way of management prescribed the organization to separate the planning and execution activities. It recommended division of labor and too much hierarchy into the management. However, the management of Hawk Car Company realized soon that too many levels in the organization makes the functions too much complicated. For the betterment, management opted for participative style of management where the la yers of hierarchy were reduced putting emphasis on the participation of each member in the decision making and planning process. It also trained the employees in such a manner so that they can gain knowledge about the entire production system. The workers were provided scope to grow in their position by better performance. The training focused on the worker’s personal issues as well which were addressed with care. The aim of this remodeling decision

Christian Faith In A Postmodern Context Theology Religion Essay

Christian Faith In A Postmodern Context Theology Religion Essay The book written by Lieven Boeve, Interrupting Tradition: An Essay on Christian Faith in a Postmodern Context deals about his argumentations on the new context that challenges Christian tradition to recontextualise itself. The fact that the Catholic Church and the Catholic faith gives meaning to life and existence facing the new reality in recent years wherein the transmission of the Christian tradition is a struggle in a large part of Western Europe particularly in Flanders. Boeve divided the book into three parts contain three to four chapters each. The first part deals with clarifying the situation in which the Christian tradition finds itself. Part two shows a radical confrontation between the Christian faith and modernity, and part three provides an historical line of thought to the present day and offer an analysis of the problem of fundamental life options (postmodern context). In the first three chapters, Boeve discus tradition and its development from modern and postmodern context. Tradition, which defines as belief, passed down in a society that can presently be experienced. In Christian tradition, it is evident that these beliefs show an important role in the very foundations of Christianity. The mere fact that truth has history led the theologians on the idea of the development of tradition. Therefore, it is indeed necessary by the passing of time that every shift in context comprises a challenge to the Christian tradition to reformulate itself in dialogue in present context. This is done through a process of recontextualisation where it shows a fact that tradition is undergoing a process of development. In line with this part of the book shows tradition viewed in the modern context that has something to do with cultural modernisation process where secularisation to which religious tradition lost its primary role as source for human values, and the generalization of values presents that respect in value and truth was only viable only in private arena. On the others hand, these evolution leads to another perspective which is the modernitys master narratives where human desire of progress in his own way. In the postmodern context, it views tradition with a definitive end. This happened because of the primary issues facing it individualisation and pluralisation. Boeve in this part of the book shows not really the end of the tradition but rather it shows a wider perspective, that a person should have an individual reflexive decision that can only be experienced in faith but it lies always the reality of choosing because this remain an option. In part two, faith in the postmodern context leads to a comparison between an open and closed narrative, which shows a clearer view, more importantly with the importance of the open narrative which does provide an adequate opportunity for a recontextualisation of the Christian narrative in our postmodern context. From these, Boeve shows way that leads closed narrative towards an open narrative and experience the modern experience of transcendence. Boeve, finally tackles in the last part of the book about the foundation of an open Christian narrative. This deals with the recontextualisation of Christian narrative in the actual context. It shows here in giving purpose to a Christian narrative. This purpose showed by the author is done by God who definitely revealed Godself in a specific human person which is Jesus. It also stated in this part about the negative theology. It is the authors intention that through this negative theology, may see the interruption of Christian narratives by God that the God who is incomprehensible, hidden and absent still can be revealed. In addition, Christianity Interrupted by the world religions, Boeve pictures different parables as a way of explaining Christianity interrupted by the world religions. In the present day situation, we may include ourselves having different narratives because in light of searching for truth, we are engaging on the same reality of being blind or having different perspective- plurality. It can also be like the parable of the ring, which indicates and tries to reveal who is the best among religions and who had the ultimate hold to the truth, but in line with the interpretation, no one can claim as the best holder of the truth. Final judgement is deferred until God comes. At the last part of the book, which is the epilogue, Boeve conclude with a reflection on the position of the Christian in the contemporary world. It is clearly stated here that faith is no longer a socio-structural option but it is a genuine faith option as an explicit choice for the Christian narrative to build human framework for a particular narrative. Faith as a faith option implies a religiously-motivated critical consciousness. Lastly, the content of the faith in the end under the pressures of modernity, one may gain nothing but worthlessness. However, Boeve shows still a positive outcome behind this situation that one may misled but soon he will find the right direction. Interrupting Tradition effectively shows the situation of Christian faith in the postmodern context by providing a perspective about the current situation of the tradition. This is the reality in that challenges tradition to be recontextualised itself. The author achieved his goal by providing this book a title that is relevant and really interrupts tradition. Likewise, it also interrupts the reader by showing arguments and facts of the reality facing by tradition. This book presents a new understanding in the part of the reader that eventually affects his own perspective and to be aware of the Christian tradition facing a dilemma. It also provides material that can lead a person to rethink what he believes. Nevertheless, even though this is the reality, every reader of this book must gain enough courage to engage in a dialogue and turn to praxis. Moreover, after reading this book we end full of hope with strength to face the new tomorrow and thanking God for giving us our own tradition as a source of foundation of our Christianity. We are in the darkness but soon find the light. As what is stated in the last part of the epilogue (p. 183), Perhaps such an open concept may be compared with a compass that, wherever one may be in the world, always points north and thus helps one finding the right direction to follow.

Political Dimension of Globalization

In chapter four, â€Å"The political dimension of globalization,† Steger did a tremendous job in analyzing the intensification and expansion of political interrelations across the globe. Steger brought up two major issues, which I found intriguing, dealing with how globalization affects modern nation-state system, which traced back to 17th-century, and the demise of the nation-state that gave rise to a â€Å"borderless world. On the other hand, Xiaohua Ma discoursed of reconciliation and forgiveness in her essay, â€Å"Constructing a National Memory of War,† showed how War Museums served as an important role in constructing national memory. Altogether, National memory mends the gap between political interrelations across the globe. The nation-state, a form of political organization originated out of the Peace of Westphalia in 1648, served to decide on specific rules of relations within and between states to avoid perpetual disagreements.With the nation-state system, th e states manage domestic affairs, everything from education, military to welfare and population. This system strived to put a clear distinction between domestic territory, where the authority of the state was absolute, and the international realm where nations were expected to follow minimal rules to avoid conflicts. This had been a foundation that Steger believed convey â€Å" a sense of existential security and historical continuity† (Steger, 56). However, when this diplomat failed to follow through, states brutishly engage themselves by going to war with each other.Steger made an excellent point on the fuel behind the mental and physical energies required for large-scale warfare, for example, World War I and II, came from â€Å"people’s very own belief in the superiority of their own nation† (Steger, 57). Even political scientist David Held pointed out, â€Å" Differences among states are often settled by force†¦international legal standards afford only minimal protection† (Steger, 58). The needs to make â€Å"foreign† countries felt subordinated to a larger imperial authority are the causes for the gap between political interrelations.In a way, this related to Ma’s essay by showing how War Museums are intended for peaceful purposes. In her essay, she defines National memory as commemoration â€Å"for purposes of strengthening national identity or international prestige. † War museums served to focus on grievance, and, by commemorated in certain ways, reinforced national pride and identity. Furthermore, National memory strengthens political interrelations across the globe. The demise of nation-state, calling it â€Å"borderless world,† sought to convince people that the decline of territory power is because of political and social change as a result of globalization.Because a state can only be self-governing if it can exercise authority over a given territory, globalization, which rely on data and communication technologies, made â€Å"borders† seem irrelevant. These so called â€Å"techno-economic juggernaut† aimed to crush any governmental attempts of strengthening policies and regulations. This issue linked with the economic aspect of globalization, showing how transnational corporations can have a huge impact on the political dimension of globalization. Steger pointed out that â€Å"global markets frequently undermine the capacity of government,† which leaded to people believing in the decline of nation-state.However, government still has the power in deciding the fate of their economies. Factors like education, infrastructure, and population movement account for most of the country’s economic system. Likewise, Ma said in her essay that National memory could shape and reshape postwar relations, or it could cause domestic discontent as a result of economic downfall. Thus, possibly shifting the focus from reshaping postwar relations to lingering wartime grievances. As a result, globalization ceased the end of nation-state by creating a â€Å"borderless world,† which eventually created global chaos.National memory serves as a foundation to help strengthen the political conflicts between states that caused by globalization. Ma discussed two perspectives of â€Å"Memory Wars†: humanistic and political view. The humanistic view put strong emphasis on forgiveness, the feelings of guilt and remorse; political view, by rectifying the wrongs, helped rebuild â€Å"international rehabilitation and thereby national prestige. † Altogether, this helps rebuild the postwar relations between states at a nation and international level.

Self Account

At my senior secondary level, I was surrounded by lots of art related competition or activities. Personally, I love drawing and designing. I have studied art and participated in lots of art competition in order to broaden my horizon. I am glad that I have got the champion in a competition organized by the Hong Kong Civic Education Foundation Ltd and an outstanding grade in drawing competitions organized by the Hong Kong Heart Foundation Limited. These awards really built up my confidence. In my opinion, drawing is not only a hobby but also a great way to improve your interpersonal skills and become more patient.In addition, I enjoy getting along with people very much. I was the peer counselor at senior secondary level and I join a community service group which help the needy once a month. I like meeting people and helping them through community service. Every month I went to the kindergarten or elderly home to do volunteer work, I play and chat with them. The experience enriches my l earning, enhances my communication skills and exerts a positive impact on my life. I also become more analytical, observant and aware of people’s needs. I hope my cheerful personality can bring joy to the needy and contribute to the community.Besides, I am intrigued by discovering something new every day, which makes me particularly interested in science. My most beloved subjects are Physics and Biology. Physic gives me the propensity to look in depth into the daily application of Physic, how they affect our life and theory behind. I have to admit that it is fairly a challenging subject and it trained me to have an inquiring mind and be conscientious to perform the best in my sheer ability. Biology allows me to learn about our own remarkable human body, I relish in learning the part regarding different types of diseases and the miracle of body structure.It is a paramount importance for the medical professionals when they are avidly performing their duty. We are able to compet e with others only if we are well-equipped. Hence, I think academic result is very important, so I would work very hard to achieve a good result, I hope I can enter a great university and pay back the community in the future. Also, I have set a career goal to participate in a service industry that could benefit the needy. I would try my best to love and serve the community to make us live a better world.