John Maynard Keynes, the Father of Modern Theoretical Economics Essay Example for Free

John Maynard Keynes, the Father of Modern Theoretical Economics Essay John Maynard Keynes (5 June 1883 – 21 April 1946), a British economist known also as the father of modern theoretical economics, had made a great impact on contemporary economic as well as political theory. His ideas were tapped by governments for their fiscal policies. He is most well known on his interventionist policy when it comes to fiscal and monetary measures, specifically, to mitigate the undesirable effect of recessions, depressions, and even booms. An article from Time magazine on the 100 Most Important People of the Century, contend that â€Å"[h]is radical idea that governments should spend money they dont have may have saved capitalism† (Reich, no date). As an economist, his first share of international fame was when he was selected as a delegate of the Paris Peace Conference of 1918–1919. It was during this conference that the victors of the World War 1 (specifically, Woodrow Wilson, Georges Clemenceau, and David Lloyd George) imposed war reparations on Germany. Keynes held his tongue during the conference but let out a roar as soon as he returned to England (Reich, no date). He wrote a book entitled The Economic Consequences of Peace. He wrote that the Germans would not be able to pay the victors. He called Wilson a â€Å"blind, deaf Don Quixote†, Clemenceau a xenophobe with â€Å"one illusion — France, and one disillusion — mankind†, and Lloyd George a â€Å"goat-footed bard, this half-human visitor to our age from the hag-ridden magic and enchanted woods of Celtic antiquity. † Keynes predicted that the reparations demanded by the victors would keep Germany impoverished and might ultimately threaten the neighboring countries if not all of Europe (Reich, no date). And we know that he is indeed right as if it was a prophecy. The book sold almost a hundred thousand copies on that period. But it was only later on after three decades that the real effect of his treatise was felt. After the end of World War II, both US and Britain (as victors of the war) remembered Keynes admonition. The best way to attain a lasting peace is by helping the vanquished start all over again – public investing to create trading partners and building solid democracies (like n the case of Germany, Italy, and Japan during that war; Reich, no date). Keynes founded that branch of economics that is termed â€Å"macroeconomics† today. This is his greatest influence in the history of economics. This actually came from a book he wrote during the depths of the Great Depression. The book was called â€Å"The general theory of employment, interest and money† (published on 1936). The idea is pretty much easy to understand: Governments should not leave the market alone when, and especially, the economy is running slow (interventionist policy of the government). It is during periods of dull economy or recession that markets are saturated and businesses either do not invest or reduce their investment. Such situation, according to Keynes, is a prologue for a very dangerous cycle: â€Å"less investment, fewer jobs, less consumption and even less reason for business to invest† (Keynes, in Wikipedia, The Free Encyclopedia). In 1942, John Maynard Keynes was raised to the House of Lords and was accord the title Baron Keynes of Tilton, County of Sussex. Keynes played a crucial role in the negotiations that transpired in the creation of the Bretton Woods system (the system/conference that created the World Bank, International Monetary Fund, and the World Trade Organization, as we know it today). He was the head of the British Commission and the chairman of the World Bank Commission. He was the brainchild behind the management of currencies between and among countries. He advocated the creation of a world central bank, the International Clearing Union, that will be responsible for the common world currency unit (Reich, no date; Keynes, in Wikipedia, The Free Encyclopedia).

The Silent Nature of Barry Lopez Essay -- Barry Lopez Essays

The Silent Nature of Barry Lopez In southern California, below Interstate 8 and west along the Mexican border, in the middle of the desert just beyond an arroyo, rests an ancient intaglio, a horse carved out of stone ("Horse" 401). If by chance you were to come across such a natural relic, perhaps you would first take a picture. Perhaps you would initially approach to get a closer look. Perhaps you would immediately run your fingers over the coarse, intricate indentations of the nose, the ears, the hooves. However, when writer Barry Lopez first came upon the stone horse, he did nothing. He simply stood in his place. Still. Silent. And he did not just happen upon the horse; he had been looking for it. Yet, at the sight of it, Lopez recalls being "startled, and that I held my breath" (401). This is not the only instance in which nature inspires awe in the writer. It occurs again in "Orchids on the Volcanoes" as he watches sleeping Flamingos drift on a lagoon in Isla Rabida, an island of the Galapagos. It occurs again in "Learning to See" as he witnesses a vivid "fleeting pattern of light falling at dusk on a windbreak of trees in Mitchell, Oregon" (236). In every encounter, Lopez observes nature with passionate reverence and spirituality that renders him speechless. But he does not write merely to relay his reaction. Barry Lopez wants us to replenish our dwindling respect for nature by sharing in the experience that nature affords us. Through his naturalist essays, Lopez restrains that immediate urge we have to pet the horsey, take a Polaroid, and move on. He persuades us to appreciate the urge. He strives to teach us about the inherently liberating spirit of nature, about how in just experiencing one moment with nature "ever... ...ea lion pup, rudely shunned by the other adults, waits with resolute cheer for a mother who clearly will never return from the sea. You extend your fingers here to the damp, soft rims of orchids, blooming white on the flanks of dark volcanoes. (53) Lopez invites us to partake in the spiritual connection we share with nature and history, which awards us both independence in our world and compelling attachment to it. He bids us to notice the "complexity of [nature's] beauty" (54), and-like the effect it continues to have on Barry Lopez time and time again-to let it render us speechless. Works Cited Grice, Gordon G. "The Black Widow." Encounters: Essays for Exploration and Inquiry. Ed. Pat C. Hoy II and Robert DiYanni. Boston: McGraw-Hill, 2000. 313-317. Lopez, Barry. "The Stone Horse." Hoy II. 399-406. Lopez, Barry. About This Life. New York: Vintage, 1998.

Global economy: trading blows Essay

There has been diplomacy subtle between the US treasury and China over the China’s exchange rate. The issue has dominated the relationship of the two largest economies that would determine and shape the future of the world economy. US has however received occasional support from Europe and other selected emerging markets. The dispute is that, the Chinese currency policy unbalances the world economy and disadvantages the foreign companies. This has caused the white house to face challenges in the management of its trade and investment relationship with Beijing as it has been evident in the way the American businesses are discontented and fuelled by incidents such as the Google China censorship spat. US is however frustrated by the fact that it lacks the instruments to conduct the international trade policy in the modern economy. The tools it has are inadequate to cope with the interlocking web that China has used to distort the global trade and investment patterns whereby it uses state-sponsored policies. The US has in the past used old fashioned architecture of the trade policy of a metal bashing economy that is predictable as it focus on the exchange rate –on its manufacturers competing head on with Chinese companies in the American market. Though America has â€Å"trade defense â€Å"instruments like the antidumping, countervailing duty and safeguard measures , Chinese imports have not been stopped as evident September last year when one such tool was used provoking a storm of protest from free-traders. When China joined the WTO, US and Europe have got to use a lot of efforts to tame China’s dominance in the global market. However China has experienced growth as it becomes increasigingly interested in locating production locally and selling services like the telecommunications, information Technology and media under the rubric of its â€Å"indigenous innovation† policy. China has successful tamed the influence of US in its economy by claiming that she is modernizing her economy while it ascend the value of chain and ease way from dependence on foreign companies for investment and technology. Procurement is used to favor Chinese companies through idiosyncratic technical standards like the homegrown wireless technology which deny licensing to more familiar international standards. This has made the foreign business representatives criticize the policy publicly claiming that they are less and less welcomed in china. The menu of options available to mitigate such problem is limited. The most obvious is the litigation at the WTO. This option is one of the attractive ones that has made Beijing accepts the normal part of trade relations, not a declaration of war. It has drawback from the issue like IPR after it lost a case on the enforcement of IPR. On the issue of revaluing renminbi; that is allowing its currency to increase, China has made a bold step of abandoning its currency peg to the US dollar and adopting a more â€Å"flexible† exchange rate policy. This decision would temporarily cause international criticism as evident at the Canadian G20 summit that almost turned into a bash-China session before Beijing announced that that it was changing the policy. The US administration however notched that this was a victory for behind the scenes diplomacy as there was the risk that the currency dispute that would descend to into a trade war. This dispute had now been solved, the Obama administration claimed The economic impact of the policy has however been limited as renminbi has only appreciated by 0. 3 percent. Chinese officials have ruled out any significant increase in the value of currency given that there is a decline in the current account surplus. However there is some element of politics and Beijing is desperate to avoid an impression that it is giving into the foreign pressure as well as avoid a revive criticism by the US that she is gaming the trading system due to a foreseeable slow appreciation of the Chinese yen against the US dollar. References: Alan Beatie. (2010, July5). Global Economy: Trading Blows. Financial Times 2010. Retrieved July 6, 2010 from

Microsoft Offices Word Program - 1464 Words

Bill Gates, a man with a net worth of $76.4 billion dollars, and the founder of the corporation Microsoft revolutionized the way the modern economy works with his work on the computer. Microsoft would develop software that would be used around the world by billions of people, making Microsoft a cornerstone of the modern economy. However, this large control of the market would put Microsoft as a monopoly with its network effect. The fact that this paper is written of Microsoft office’s word program is a testament to the impact of Bill Gates’ Microsoft. In fact, about 90% of all computers run on a Microsoft operating system called Windows. About 80% of computers use the Microsoft office suite, including word ,Microsoft is everywhere. Before Microsoft, Gates showed great promise as he scored a 1590 out of 1600 on his SAT and went to Harvard in the fall of 1973. There he met Steve Ballmer who later would take over Microsoft. Gates left Harvard to start his company, Micro-S oft, in 1976 with Ballmer. He later dropped the dash to just be Microsoft. One of his first jobs was when IBM asked Microsoft to provide a BASIC interpreter for the IBM PC in 1980, the grandfather of the modern PC. The IMB PC needed an operating system(OS), so Microsoft and Gates licensed the operating system 86-DOS to IBM and later bought it out and changed the name to PC-DOS. This is the first time Microsoft (MS) would outflank a much larger company for its own gain. This also is seen as the shift inShow MoreRelatedEssay On Ipad868 Words   |  4 Pagesprovides the best solutions when it comes to writing documents, making presentations and data sheets on a PC. Microsoft Office fans remain irritated of utilizing the software suite of applications from their Smartphones/tablet seller. Earlier iPad users suffered because of the poor integration and confusing user interface (UI) of Apple in-built apps. 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In organizations that lack strategic direction there has been a tendency to look inwards in times of stress, and for management to devote their attention to cost cutting and to shedding unp rofitable divisions. In other words, the focus has been on efficiency (i.e. the relationship between inputs and outputs, usually with a short time horizon) rather than on effectiveness (which is concerned with the organization’s attainment of goals – including that of desired competitive

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Texition Example

Essays on Texition Essay TAXATION Project The rate of tax that I would charge would be the progressive tax rate where the higher income earners remit higher income percentages than the lower income earners. This is to sustain the economic contribution of the low income earners who pay little percentages (Hopkins 2012, p. 5). The benefit of this tax rate is that it encourages the submission of taxes by all brackets of income earners. This implies that the tax rate is not oppressive to the income earners. As a result, I would use a 9% tax rate that is affordable by all taxpayers and encourages personal saving. To ensure that there was compliance, I would introduce tax centers where taxpayers consult for advises on various issues. This is because some citizens would not understand why the rate introduced was lesser than the corporate tax charged (Hopkins Blazek 2010, p. 24). I would also impose strict regulations with heavy penalties for tax evaders who submit wrong returns or details. People will always try to evade their tax obligations by falsifying their income details or profit margins. The tax system adopted would also comply with professional principles of reliability, equity and objectivity (Hopkins Blazek 2010, p. 26). It is vital for a tax system to instill trust among the taxpayers to show that it supports government projects and improvement of social amenities. Tax collection would take place in different ways, such taxation at the source and personal-assessment or through deductions. Collecting tax at the source entails deducting money at the system before the earner is paid and might be through PAYE. It is the recommended method because it curbs tax evasion behaviors when taxpayers may conceal their incomes or gains. The personal-assessment method is another favorable source that compels self-employed persons to fill in the tax returns (Hopkins 2012, p. 9). The method also ensures that property owners remit their deductions after the correct calculations of the tax returns. The taxpayers have the right to use the method endorsed by the tax authorities. A tax exemption is a concept that decreases the taxable income of an individual or a company. I would apply this strategy on charitable agencies by allowing them a tax exemption from property and income charges (Hopkins 2011, p. 759). The exemption would also be offered to military organizations, veterans and NGOs. The exemption would be given to the charitable agencies to enable them offer humanitarian assistances to citizens and other underprivileged individuals. The advantage of allowing tax exemptions is to encourage foreign in some sectors of the economy, such as education, industrial production and high risk ventures (Hopkins 2011, p. 759). Veterans and NGOs are vital for this benefit because they support human existence and safety against attacks from enemies and other vices like diseases or abuses. I would expect to collect tax revenue of around half the country’s total earnings depending with the GDP. This is because tax revenues should not exceed the earnings from the country’s economic activities. I would use the money to create more job opportunities for the local citizens in other sectors apart from the oil industry. I would also use the money to develop educational facilities to avoid foreign workers crowding the job market in the country. Bibliography Hopkins, B. R. (2011). The law of tax-exempt organizations. Hoboken, NJ, J. Wiley. Print. Hopkins, B. R., Blazek, J. (2010). Private foundations: tax law and compliance 2011 Cumulative supplement. Hoboken, N.J., Wiley. Hopkins, B. R. (2012). The law of tax-exempt organizations: 10th edition cumulative Supplement. Hoboken, N.J., Wiley.

Save Wild Life free essay sample

Reflecting on the conservation measures adopted during the past year, point out that through political will and commitment most of the threatened wildlife and their habitats can still be saved We were only 300 million Indians when the British left their most prized imperial possession. In just over half a century we have more than tripled our population and lost more than 50 lakh hectares of our natural forests. With the country needing to find food, water, shelter, energy, timber and medicine for a new mouth every alternate second, our forests and wild landscapes face fresh and bigger threats. With this burgeoning growth in human population certain species of our wildlife face risk of extinction than ever before.The Indian Cheetah has been driven to extinction, the brow-antlered deer is facing the risk of extinction, the natural habitat of the tiger has shrunk to less than one percent of its former ranger, the home of Asiatic lion is pushed to one small corner in Gujrat, the habitat range of the Indian one-horned rhinoceros is now restricted to a few pockets in North East India, the rainforest habitat of the lion-tailed macaque is diminishing faster than we expected, the great pied hornbill which shares its habitat with the lion tailed macaque can fly away forever , well protected habitat of the Indian Elephant could be less than two percent of our countrys land area. As natural history writer Tim Radford truly commented in his recent article in the Guardian about wildlife extinction â€Å"the first five great extinction of life in the history of the planet were all natural: from volcanic catastrophe, climate change, asteroid impact, or even deadly radiation from an exploding star. But, this one is the unwitting work of humankind†. Wildlife week and the year that was Yet another year has quietly passed by. Many of us might not have given a serious thought to wildlife conservation.While we believe that this should be a hotly debated issue, the tangible and intangible benefits we receive from wildlife conservation directly concerns over 75 percent of our countrys population who depend upon the traditional occupation rainfed agriculture. This apart, it concerns most of us in several different ways both known and unknown. It is time again for all of us to think about the needs of wildlife conservation and pull up our socks to perform the onerous task of conservation on-the-ground. We need to analyze the various aspects that have affected the future survival of our wildlife species. However the last year has seen some major gains for wildlife conservation.There have been several positive initiatives and victories for the conservation corps of our country. Various policies, decisions and initiatives by the government, judiciary and interested conservation organisations have directly or indirectly affected the management of our wild areas. Strong laws-stronger enforcement Amidst all the gloom and doom for wildlife, the year 2003 has actually seen major gains on the legal front. In a rare show of consensus the parliament of India passed the Wildlife (Protection) Amendment Bill, 2002. The amended (Wildlife Protection) Act, is stronger with several new clauses and important amendments making it the bulwark and guardian of wildlife and its habitat.Penalties for hunting wild animals have been increased to a minimum of three years in order to ensure that killing of endangered animals including the tiger and elephant, now qualify as non-bailable offenses. A new clause now empowers enforcement authorities to effect forfeiture of property derived from illegal hunting or trade of wildlife. To ensure better protection of wildlife habitats, illega l encroaches within national parks or wildlife sanctuaries can now be evicted and structures removed; no construction of commercial tourist lodges, hotels and zoos can be allowed without the prior approval of the National Board for Wildlife. The commercial exploitation of forest produce has now been made illegal. The judiciary too has joined hands towards conservation of forests and wildlife.To assist and effectively monitor the implementation and compliance of several landmark orders, the Supreme Court directed the Union Government to constitute the Central Empowered Committee (CEC). Since then the CEC has gone on to make several important recommendations on critical matters concerning wildlife that include winding up of mining in Kudremukh, complete ban on logging including removal of dead and wind fallen trees in protected areas and ban on regularisation of encroached forest land. All these have been major gains for wildlife conservation that conservationists can actually cheer about. Events in Karnataka The past year has been a fruitful year for the conservation scenario in Karnataka.Several important events and initiatives were taken up during this period that would set a new trend in the protected areas of our sta te. The apex court of our country passed a landmark judgment ordering the closure of the ecologically devastating mining operations carried out in Kudremukh National Park. This rainforest habitat is a biodiversity treasure trove and home to several endangered wildlife species including the lion-tailed macaque. The decision to stop mining would not only save such niche specialist species but also protect the livelihood of millions of marginal farmers dependent on the Bhadra, Tunga and Nethravathi rivers that originate in the forests of Kudremukh.The court clearly rejected the arguments of economic benefits in favour of the ecological benefits for the society from these fragile eco-system. This is viewed as a land mark judgment in the history of wildlife conservation in India. ‘Wildlife First’ a pro-active wildlife organisation had approached the Supreme court against the continuation of the mining activity and in association with several other wildlife, environment and farme rs organisations spearheaded a major campaign against renewal of the mining lease. Positive Political Will The Chief Minister of Karnataka in response to public opinion took an environmentally sound and socially responsible decision to save the Kudremukh National Park from the ravages of mining. In yet another positive move in August 2003 the Chief Minister, in response to an appeal by conservation organisations, took a visionary decision of stopping timber extraction from the forested catchments of Kodagu; directed senior officials of the Government to develop a plan for consolidation of the area as a wildlife reserve and approach the UNESCO which is considering a proposal to notify the area as a World Heritage Site. This decision assumes greater importance in the wake of poor monsoons in Kaveri delta and the severe drought faced by the state and will go a long way in protecting the watershed of Kaveri, the river of hope and prosperity of several million farmers in the states of Karnataka and Tamilnadu. For such positive political will to actually translate to on the ground action a dynamic and responsive bureaucracy needs to be in place. The new Chief Wildlife Warden of Karnataka has exhibited such dynamism by proactively initiating several systemic changes after taking ch arge of the Wildlife Wing which urgently needed priming.He has already articulated a strategy that includes consolidation of habitats, strengthening of protection and minimal developmental works like roads, buildings and so on inside wildlife reserves. Emerging Solutions The voluntary resettlement of people residing inside Bhadra Tiger Reserve has emerged as a model project and is more or less complete with most of the families shifting out of the reserve. Signs of wildlife returning to the earlier inhabited areas are already clear. This project is also an archetype of excellent co-ordination between government officials and non-government organisations. The success story of Bhadra has infused hope in several thousand villagers severed from the world inside our wildlife reserves and bereft of even basic amenities.There have been instances of villagers and forest officials from other areas already visiting the Bhadra voluntary resettlement project to note down the crucial points of the project. While the entire country is groping for an ecologically correct and socially practical solution to the vexed problem of forest encroachments, a small but effective initiative has been implemented in Kudremukh National Park. In an innovative effort, eight pastoralist families who had encroached forest land in Kudremukh National Park were voluntarily resettled outside the national park with support from individual private donors. The families were given suitable compensation and provided support to purchase agricultural lan d outside the national park by wildlife organisations.We believe that these kinds of initiatives that offer pragmatic solutions to consolidate prime wildlife habitats and permanently resolve human-wildlife conflict holds considerable promise since this unique effort can also be replicated in other important protected areas through constructive private public partnerships. Though wildlife conservation is largely perceived as the protection of large charismatic mammals for the indulgence of urban elite, the overall benefits for the entire society accrue through saving an entire ecosystem that includes even micro-organisms is immense. We might not understand the prominence of our wildlife both large and small, until the consequences emerge, which by then would be irreparable. These complex ecological webs which contain yet unexplored wild genes of food plants, fibers, chemicals and designs are invaluable biodiversity assets that is critical for survival of human kind.So many intangible benefits our forests provide human beings across the world without any expectations in return. It is therefore imperative for this generation to save this biological treasure for the future. This casts an important duty on wildlife organisations, forest officials, governments, communities and donors to focus and redouble efforts for the cause of long-term conservation of our countrys wild heritage. We still have nearly four percent of our land area protected as wildlife reserves, if we have the political will and the commitment of our wildlife managers we can still save most of the large threatened wildlife and their habitats. The future can be bright and it is not a lost cause, lets be a bandwagon of optimists.