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Does Technology Wreck the Middle Class, or Do We Reap the Benefits of Mechanization?

Mechanization encompasses moving from a traditional society to an industrialized and urbanized society. In agriculture, the process increases productivity, efficiency, and quality, reducing labor, human drudgery, and cultivation costs. Despite its advantages, mechanization wrecks the middle class. It disheartens them, renders their services monotonous, and the work environment intolerable. Mechanization reduces the employment rate of ... Read More
Pages: 3       Words: 606

Development Approaches and Best Approach for Economies of Developing Countries

Introduction Development in economics refers to improving the standard of living of a country’s citizens. Economists have been on their toes to study the economy and growth of a nation. This can be done through various approaches such as economic growth, structural theory, development economics, and poverty alleviation. Development is a complex issue, and economists ... Read More
Pages: 5       Words: 1347
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Applying Economics to the Real World

Case1: Government Spending and Taxation The government finances its spending through treasury bills, borrowing, and taxation. Different forms of taxation are the main sources of government revenues. Taxation allows the government to collect a common pool of funds to finance social projects which are sensitive to be left in the hands of private investors. The ... Read More
Pages: 8       Words: 2082

Import Substitution Industrialization (ISI) Policy and the East Asian Economic Model in Pakistan and Afghanistan

Import Substitution Industrialization (ISI) is a business-based program for development-oriented on protecting local infant industries through protective tariffs, exchange rate controls, special preferential licensing for the import of capital goods and subsidizing loans to local infant businesses. Protectionist approaches have epitomized the policy stance of the economies of Afghanistan and Pakistan. At more theoretical level ... Read More
Pages: 3       Words: 661

Analysis of Market Structures and Related Pricing Strategies

Abstract In this paper, I will be analyzing the market structures of Supply and Demand as well as pricing strategies that are suitable for them. I will also compare their strategies with those of a monopoly, a perfect competition, a monopolistic competition, and an oligopoly. To analyze these structures, I will start with an overview ... Read More
Pages: 11       Words: 2779

Africa Is Not a Poor Continent

Introduction Over the past few decades, Africa has been portrayed in various ways, such as a helpless kid in need of development, a growing economic power, an immediate threat, and a tinderbox for terrorism, famine, forced migration, and disease. However, the truth is, like always, more nuanced. Indeed, the continent of Africa has changed drastically ... Read More
Pages: 8       Words: 2103

Adam Smith’s Theory of Economics

Introduction The economic realm forms the bedrock of human existence, and its fundamental role can never be ignored. The continuous phenomenon of allocation of scarce resources, distribution, and consumption has been at the heart of human existence since time immemorial. The economic world has, over the years, witnessed remarkable strides that have resulted in to ... Read More
Pages: 11       Words: 2944

Divestment From Fossil Fuel Companies for a Net-Zero Economy

Introduction For many countries that are committed to the 2015 Paris Agreement’s climate challenge, 2050 is a key deadline in the race to carbon neutrality. By 2050, the United Kingdom and several other European countries aim to achieve carbon neutrality, or net-zero greenhouse gas emissions (Griffin & Hammond, 2021). To reach this point, investors are ... Read More
Pages: 13       Words: 3402

A Discussion on the Relationships Between Globalization and Human Development

Globalization refers to the process by which nations become increasingly economically and politically interdependent. Multiple indicators can be used to measure the degree of globalization, which is a process that is extremely difficult to comprehend through the lens of fluctuating variables. Globalization has been directly correlated with the rates at which infectious diseases spread, the ... Read More
Pages: 6       Words: 1472

The Economic Philosophy of Adam Smith

Modern economic philosophies have been built on past ideas developed by top scholars, and in my opinion, no past philosopher has influenced my beliefs on the economy like Adam Smith. The Scottish economist has published several books which have shaped the modern economic mind with his mind-transforming ideas. Particularly in the fundamentals of classical economics, ... Read More
Pages: 3       Words: 597

Sources of Economic Growth

Economic growth is an increase in the output of an economy over time. It is often measured as the percentage change in the gross domestic product (GDP) or real GDP. The primary sources of economic growth are improvements in human capital, natural, physical, institutional, factors and technological advancement (Mayer, 2010). Manipulating these factors leads to ... Read More
Pages: 5       Words: 1261

Singapore Market Analysis

Demographic trends With the impact of globalization, countries are becoming important markets for consumer goods, more fundamentally than food products. The government of interest for future global ventures is Singapore, an island country in Southeast Asia. Its strategic location in South East Asia through sea routes is critical for international consumers. Singapore is a densely ... Read More
Pages: 3       Words: 783

Analysis Paper: Macro-and-Microeconomics

Since 2018, the two leading economies, China and the United States, have been embroiled in an economic war. In August 2019, the United States announced the third of a series of tariffs on goods coming from China. The selected article by Li (2019), indicates that the announcement declares the US administration’s imposition of a 10% ... Read More
Pages: 3       Words: 673

IT and the Global Economy

Kobe steel was Japan’s third-largest steelmaker and a major supplier of aluminium to manufacturers of cars, trains, and planes across the world. It admitted having supplied products containing falsified specifications to over five hundred customers (Shane, 2017). This revelation impacted the global supply chain giant; the customers began questioning the ethical standards of the company. ... Read More
Pages: 5       Words: 1253
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