The Deficit For Those Economics Classes Essays - Fiscal Policy

The Deficit for Those Economics Classes here's one on the deficit for those economics classes Subject: the deficit good or bad Deficit Spending ?Spending financed not by current tax receipts, but by borrowing or drawing upon past tax reserves.? , Is it a good idea? Why does the U.S. run a deficit? Since 1980 the deficit has grown enormously. Some say its a bad thing, and predict impending doom, others say it is a safe and stable necessity to maintain a healthy economy. When the U.S. government came into existence and for about a 150 years thereafter the government managed to keep a balanced budget. The only times a budget deficit existed during these first 150 years were in times of war or other catastrophic events. The Government, for instance, generated deficits during the War of 1812, the recession of 1837, the Civil War, the depression of the 1890s, and World War I. However, as soon as the war ended the deficit would be eliminated and the economy which was much larger than the amounted debt would quickly absorb it. The last time the budget ran a surplus was in 1969 during Nixon's presidency. Budget deficits have grown larger and more frequent in the last half-century. In the 1980s they soared to record levels. The Government cut income tax rates, greatly increased defense spending, and didn't cut domestic spending enough to make up the difference. Also, the deep recession of the early 1980s reduced revenues, raising the deficit and forcing the Government to spend much more on paying interest for the national debt at a time when interest rates were high. As a result, the national debt grew in size after 1980. It grew from $709 billion to $3.6 trillion in 1990, only one decade later. Increase of National Debt Since 1980 Month Amount -------------------------------------------- 12/31/1980 $930,210,000,000.00 * 12/31/1981 $1,028,729,000,000.00 * 12/31/1982 $1,197,073,000,000.00 * 12/31/1983 $1,410,702,000,000.00 * 12/31/1984 $1,662,966,000,000.00 * 12/31/1985 $1,945,941,616,459.88 12/31/1986 $2,214,834,532,586.43 12/31/1987 $2,431,715,264,976.86 12/30/1988 $2,684,391,916,571.41 12/29/1989 $2,952,994,244,624.71 12/31/1990 $3,364,820,230,276.86 12/31/1991 $3,801,698,272,862.02 12/31/1992 $4,177,009,244,468.77 12/31/1993 $4,535,687,054,406.14 12/30/1994 $4,800,149,946,143.75 10/31/1995 $4,985,262,110,021.06 11/30/1995 $4,989,329,926,644.31 12/29/1995 $4,988,664,979,014.54 01/31/1996 $4,987,436,358,165.20 02/29/1996 $5,017,040,703,255.02 03/29/1996 $5,117,786,366,014.56 04/30/1996 $5,102,048,827,234.22 05/31/1996 $5,128,508,504,892.80 06/28/1996 $5,161,075,688,140.93 07/31/1996 $5,188,888,625,925.87 08/30/1996 $5,208,303,439,417.93 09/30/1996 $5,224,810,939,135.73 10/01/1996 $5,234,730,786,626.50 10/02/1996 $5,235,509,457,452.56 10/03/1996 $5,222,192,137,251.62 10/04/1996 $5,222,049,625,819.53 * Rounded to Millions Federal spending has grown over the years, especially starting in the 1930s in actual dollars and in proportion to the economy (Gross Domestic Product, or GDP). Beginning with the "New Deal" in the 1930s, the Federal Government came to play a much larger role in American life. President Franklin D. Roosevelt sought to use the full powers of his office to end the Great Depression. He and Congress greatly expanded Federal programs. Federal spending, which totaled less than $4 billion in 1931, went up to nearly $7 billion in 1934 and to over $8 billion in 1936. Then, U.S. entry into World War II sent annual Federal spending soaring to over $91 billion by 1944. Thus began the ever increasing debt of the United States. What if the debt is not increasing as fast as we think it is? The dollar amount of the debt may increase but often times so does the amount of money or GDP to pay for the debt. This brings up the idea that the deficit could be run without cost. How could a deficit increase productivity without any cost? The idea of having a balanced budget is challenged by the ideas of Keynesian Economics. Keynesian economics is an economic model that predicts in times of low demand and high unemployment a deficit will not cost anything. Instead a deficit would allow more people to work, increasing productivity. A deficit does this because it is invested into the economy by government. For example if the government spends deficit money on new highways, trucking will benefit and more jobs will be produced. When an economic system is in recession all of its resources are not being used. For example if the government did not build highways we could not ship goods and there would be less demand for them. The supply remains low even though we have the ability to produce more because we cannot ship them. This non-productivity comes at a cost to the whole economic system. If deficit spending eliminates non-productivity then its direct monetary cost will be offset if not surpassed by increased productivity. For example in the 1980's when the huge deficits were adding up the actual additions to the public capital or increased productivity were often as big, or bigger than the deficit.

The eNotes Blog Was Pablo NerudaMurdered

Was Pablo NerudaMurdered I love you without knowing how, or when, or from where. I love you simply, without problems or pride: I love you in this way because I do not know any other way of loving but this, in which there is no I or you, so intimate that your hand upon my chest is my hand, so intimate that when I fall asleep your eyes close.† ―  Pablo Neruda,  100 Love Sonnets The man who wrote some of the most romantic verse in literature may have come to a very violent end. In 1973, just twelve days following the death of his close friend and political ally Salvadore Allende  died, Neruda was found dead as well.   Allende was deposed by Augusto Pinochet, who ruled Chile for eight years, from 1973 to 1981. Salvadore Allende Augusto Pinochet While the official cause was of Nerudas death was   complications due to prostate cancer,   there has long been speculation that Neruda was poisoned, charges Nerudas personal driver has leveled. In February, the court ordered that Nerudas remains be exhumed for signs of foul play. Some have objected to the exhumation, citing such things as the moist tropical soil that would degrade the body to such a state that any   traces would be long gone. Others argue that Chiles forensics are not sophisticated enough to conduct a thorough analysis. Still, samples will be taken and sent elsewhere (location not announced) for the analysis. We may never know for sure what took Nerudas life.   But, of course, his words will live on. Here is one of my favorite of his many beautiful poems, translated by another of my favorite poets, W.S. Merwin: Tonight I Can Write (The Saddest) Tonight I can write the saddest lines. Write, for example, The night is starry and the stars are blue and shiver in the distance. The night wind revolves in the sky and sings. Tonight I can write the saddest lines. I loved her, and sometimes she loved me too. Through nights like this one I held her in my arms. I kissed her again and again under the endless sky. She loved me, sometimes I loved her too. How could one not have loved her great still eyes. Tonight I can write the saddest lines. To think that I do not have her. To feel that I have lost her. To hear the immense night, still more immense without her. And the verse falls to the soul like dew to the pasture. What does it matter that my love could not keep her. The night is starry and she is not with me. This is all. In the distance someone is singing. In the distance. My soul is not satisfied that it has lost her. My sight tries to find her as though to bring her closer. My heart looks for her, and she is not with me. The same night whitening the same trees. We, of that time, are no longer the same. I no longer love her, thats certain, but how I loved her. My voice tried to find the wind to touch her hearing. Anothers. She will be anothers. As she was before my kisses. Her voice, her bright body. Her infinite eyes. I no longer love her, thats certain, but maybe I love her. Love is so short, forgetting is so long. Because through nights like this one I held her in my arms my soul is not satisfied that it has lost her. Though this be the last pain that she makes me suffer and these the last verses that I write for her.

Monopolistic Competition Research Paper Example | Topics and Well Written Essays - 750 words

Monopolistic Competition - Research Paper Example This similarity is obtained due to product differentiation portrayed either physically, by perception, or by support services. Most importantly, customers view these goods as similar since they serve the same purpose. Monopolistic competition advocates free entry into market and free exit. This enables new firms to come up with close substitutes thus enhancing competition. In a free market, a firm faces no restrictions from the government rules, financial start-up, or other considerable barriers. Additionally, free entry and exit in the market maintains profit maximization of a firm for a longer span of time. Selling price is a unique characteristic in monopolistic competition (Baumol, 2011). A firm is ever independent in decision-making. Each firm decides on commodity price and output. The seller sets the price of a good depending on circumstances. These variations of price arise due to product differentiation and other additional expenditures. Nike and Asics portray an example of two firms in the sneaker industry, which exhibits monopolistic competition. In order to ensure maximum competition, in the large monopolistic market, Nike and Asics need to emphasize on product differentiation to attract customers. The factors that need consideration during differentiation include style, appearance, quality, performance, close substitute of the goods (Arora, 2007). Since both firms produce similar product, there is need for a difference in the products that will attract the buyers. Different buyers have different perceptions on the kind of shoe to wear or the kind of shoe they feel comfortable with while wearing. The style of shoe tells a lot about an individual. Therefore, it is important for the two firms to first strategize and research on the style of shoe that most people prefer. This will enable the firm produce the shoe and ultimately sell it without much competition. Moreover, it is

Assignment Essay Example | Topics and Well Written Essays - 500 words - 80

Assignment - Essay Example The disease is also causes fever, and red skin-spots that later turn black, thus the name â€Å"Black Death†. The disease reached Europe through The Black Sea in October 1347 when 12 Genoese trade ships arrived at Messina’s Sicilian port. The Genoese ships’ passengers on board were already plague-infected. The strategic location of China as one of the world’s significant trading nations facilitated the spread of the Black Death into Europe and Western Asia. The Black Death rapidly spread in â€Å"Europe from Italy, France, Spain, Portugal, England, Germany, Scandinavia, Norway, Bergen, Iceland, to northwestern Russia.†3 The medieval society was tremendously influenced by the Black Death. To begin with, there was starvation in the villages because the laborers died. The men who were supposed to plough fields died. The lack of labor also affected the harvesting, and livestock farming. In the urban areas, the effects of the Black Death were directly proportional to the impacts in the rural areas. A number of people migrated from the urban areas to the rural areas because it was believed that the fleas causing the Black Death was common in the urban areas. The urban areas suffered lack of food because the primary suppliers of food, who were the surrounding villages, could not supply adequate food. The loss of labor through deaths led to the lords resorting to sheep farming, as opposed to earlier grain farming. There was also shortage of commodities like bread because of the decline in grain farming. The prices of food in the urban areas skyrocketed because of the inflation. The inflation resulted into workers demanding for better pay, leading to the 1381’s Peasants Revolt in Europe when the landlords were hesitant to heed to the peasants’ demands.4 There were huge disruptions in the medieval world because of the Black Death. The Black Death led to the establishment of Feudal law restricting the movement of peasants, unless authorized by

The values and attitudes in Great Expectations Essay Example for Free

The values and attitudes in Great Expectations Essay The text Great Expectations by Charles Dickens reflects many of the values and attitudes of nineteenth century England. The terms values and attitude are somewhat linked, and are both an integral part of the context of this novel. There was a great divide between the classes at the time of Great Expectations, with each class having its own stereotypical views. This difference led to crime in the city, which served the need for better punishment, as the justice system was quite arbitrary. Attitudes towards the difference between city and country life were also changing with the coming of Industrialisation. Each of these values and attitudes are depicted in the novel through the use of various techniques, such as imagery, characterisation and irony. During the Victorian Era great differences arose in relation to attitudes towards class. The lower classes were seen as raucous and rude, while the upper classes maintained the image of high moral qualities and social status. It is this difference in Great Expectations which allows Compeyson to get away with a lighter charge than Magwitch for the same crime, simply because he was in the upper class. Magwitch is first characterised through a slight caricature as a fearful man who had been soaked in water, and smothered in mud, and lamed by stones. Nevertheless, there was a growing criticism towards the upper class during the century especially with the rapid growth of the middle class, and societys attitudes and views towards them changed. This is shown in Great Expectations through the use of irony and characterisation of Compeyson and Drummle, who are initially seen to be in the upper classes of society. Ironically, both are drawn in parallel and are characterised as morally corrupt, as Drummle mistreated his wife and Compeyson was involved in crime. Dickens is suggesting here that some of the upper class in the Victorian Era were no better than many of the lower class civilians. Money was also an important value and crucial aspect of class during the time of Great Expectations. We can see how much Magwitch valued class and wealth by his attempt to buy Pip into an upper class so that he (Pip) would have enough money to relax and enjoy a wealthy life. Indeed, the idea of a convict making someone rich is an example of situation irony constructed by  Dickens into the plot. Through character development and the narratorial perspective of the novel, we then see how Pip believes that this will allow him to escape his lower class and marry Estella from an upper class, perhaps now she would think twice about me. However this merely leads Pip to snobbery and a wasteful life, and we see how he eventually returns to his lower class. Pip had false expectations and allusions about class, and hence, Dickens has shown that money is not the only barrier between classes, as Pip was for the most part unsuccessful in making the transition. As crime escalated in the nineteenth century the need for an improved legal system arose, however the justice system proved to be quite arbitrary. Those who fell into the arms of the law received little mercy harsh retribution was the stock-in-trade of a perverse, tyrannical and unforgiving legal system. One of Pips first encounters in London, with the minister of justice is an example of symbolism, exceedingly dirty and partially drunk, indicative of the corruption of the legal system and the many injustices to come in Great Expectations.. An example of this injustice of the justice system in the novel can be through the character Jaggers who fixes up evidence to win cases. This is reflective of society at the time, where people with more money could buy justice by hiring pricy lawyers such as Jaggers to manipulate the case for them. Nevertheless, it is interesting to note that Jaggers washes his hands after every trial, which signifies his guilt of causing injustice. This can be viewed as a literary allusion to Lady Macbeth, where in the play Macbeth she tries to wash her hands clean of the blood that she spilt during murder, feeling a guilty conscience. Further corruption of the justice system can be seen through the influence of class. In Great Expectations, this is evident when Magwitch gets a harsher punishment than Compeyson for the same crime. In spite of this, a natural justice is served in the end as ironically, everyone who had committed a crime was duly dealt with, although they may have avoided it earlier. Orlick was captured and imprisoned after attempting to murder Pip, while Compeyson was drowned. This use of dramatic irony by Dickens emphasises the importance of justice as a value at the time of the novel. Another important attitude at the time of Great Expectations was the growing difference between the city and country as a result of the onset of industrialisation. As the cities grew they were seen as exciting and dynamic, so many of the city dwellers looked down at the country. However Dickens caricatures city life as polluting, and full of corruption. This is achieved again mainly through focusing on Pips character development as he moves from the country to the city in the hope of becoming a gentleman. Towards the beginning Pip is depicted as innocent and untainted by city corruption, however as he grows up he becomes selfish and snobbish. The difference is clear the city. When Pip first arrives in London, the difference between city and country life is duly emphasised by Dickens through descriptive imagery and caricatures, filth and fat and blood and foam seemed to stick to me. The images of criminals being executed and the sickening smells of the rotting meat in the markets tha t are described by Pip reflect the attitudes held towards the city by many of the people of the time, this was horrible, and gave me a sickening idea of London. Dickens has reflected many of the values and attitudes of the time in Great Expectations, with various stylistic techniques such as irony and characterisation assisting in emphasising their importance both in the story, and in society.

Tom Jones Essay -- Essays Papers

Tom Jones Tom Jones, by Henry Fielding is a novel that is identical to a soap opera. This book deals with everything from treachery to lust to deceit. He writes about a man and woman’s love for one another and that nothing can stand in their way. Class separates them and they will not let that stop them. â€Å"Acquired a discretion and prudence very uncommon in one of his lively parts.† This is a quote from Squire Allworthy to Tom. I believe that Fielding’s purpose in writing this novel was purely to entertain. He also added stabs at the class society in medieval England. He wrote this novel to inspire hope in the people of his time. He wanted them to go for their dreams and never to give up hope. But most of all this was for entertainment. Humans like to see lives that are in more turmoil than their own. This is why we have soap operas on television today. He achieves this by using characters that seem to be imaginable. He puts these characters in amazing situations. When the reader believes that they have something pinned he puts in another twist that sends your senses spiraling. A specific instance in the novel is when the reader finds out that Mrs. Waters is actually Jenny Jones who is Tom’s mother. He sleeps with Mrs. Waters not knowing this. Fielding does not unveil this secret until the end of the novel. The major problem in the book is simple. There is a deceitful man named Blifil. He and Tom are going after the same woman, Sophia Western. Blifil is a kaniving person and besmirches the reputation of Tom. He makes up lies that hurt Tom’s chances with Sophia. Tom is also a bastard and Sophia's father does not want her to marry a bastard. But he does want her to marry Blifil because he is in line to inherit a large estate. After arguments and many other incidences the truth is revealed. Everyone finds out that Tom is the good one and Blifil is the bad one. Tom also gets the girl. Henry Fielding was born on April 22, 1707, at Sharpham Park in Somersetshire to well-situated, upper-class parents. His mother was the grand daughter of Sir Henry gold, Baron of the Exchequer, and his father, Edmund, fought against the forces of Louis XIV under the Duke of Marlborough, who eventually rose to the rank of lieutenant general. Fielding was home school as was Tom Jones in the novel. A clerk-man from t... ... he does not know that Tom is really his nephew, he treats Tom like a son. Jenny Jones – She is a servant to the schoolmaster, Mr. Partridge. She is accused of being Tom’s mother. Tom has an affair with her at Upton Inn. She changes her name to Mrs. Waters. Mr. Partridge – He is the schoolmaster. His is falsely accused of being Tom’s father and is bannished. He also takes another name, Little Benjamin. Captain Blifil – A hipocrate who is only interested in money and wealth, who takes advantage of Allworthy’s generosity. Master Blifil – He is the son of Bridget and Captain Blifil. He wants to get all of Allworthy’s estate. Mr. Thwackum – He is a tutor brought in to teach Blifil and Tom. He love to disipline with the whip. Mr. Square – Also responsible for educating Blifil and Tom. Squire Western – Allworthy’s neighbor. He loves three things, to hunt, the bottle (alcohol), and his daughter. Sophia Western – She is lovely and intelegent. She is loved by tome and he want to marry her. Mrs. Western – She is stubborn and pretentious. She is the sister to Squire Western. She has no husband or children so she puts all of her efforts into Sophia.

Beauty and Stylish

The making of their agreement began with oral statement from Stylish who had demands regarding the new house, to provide curtains, blinds, and window coverings. Beauty explained to Stylish that all window coverings were provided in the contract like what Stylish wanted. Several weeks later, Stylish had agreed, and then leads to written contract signing. This is when the issue arose. Somehow Stylish signed the contract which content is contrary to what he originally demanded, different from their pre-contractual statement. That the contract price of the house excludes all window coverings, and is the responsibility of the purchaser.Stylish was upset when he realized that blinds, curtains and other window coverings were not provided. They had a valid contract within their case, and the terms of contract are certainly not breached. Although somehow there is a misrepresentation in term of Stylish’ demand and the content of the contract. The question is whether the Stylish can get his contractual rights in relation to the window coverings. A contract can be defined as an agreement enforceable in law. This suggests that there are some agreements that are not enforceable in law.Whether or not a contract is enforceable in law firstly depends on whether or not the following four statements are satisfied : there must be an offer, acceptance of that offer, consideration or document under seal or deed, and intention to create legal relations. If one of the mentioned elements is missing, there will not be a valid contract. Offer is an expression made by one party as an â€Å"offeror† and the person who accepts the offer as â€Å"offeree†. In another words, offer is willingness by an offeror to enter into a legally binding contract with offeree.In this case, Beauty is an offeror who offered the contract, and Stylish is an offeree whom the offer is made for. Once the offer has been set, then the next step is whether the contract would be accepted or not, which is accepted by Stylish, by signing the written contract. By signing the contract, it is presumed that the parties, Beauty and Stylish intended the document to be bound with sufficient consideration and thus creating legal relations. With the four elements, this contract is valid, recognized, and enforceable by law. In another words, Stylish can invoke assistance of the court. All contracts contain terms.Various statements whether oral or written, may be made in the course of negotiation. This is known as pre-contractual statements. But not all statements end up having the same legal effects. First, the statement made may be in a form of â€Å"puff†. Such puffs cannot be taken seriously. They are advertisement or promotional statement which is not intended to be binding. Next, statements can be a †representation†. It may not be terms of contract, but could just be a statement that would be more than just sales talk. Although representation may be in writing, it is not as a whole part of the contract.Finally, statements made could be term. Terms are statements that form a contract. Somehow terms and representations are so much alike. The difference between a representation and a term depends on the intention of the parties and the actual facts of the case. If the intention of the parties is clear, then the statements they make can be considered to be a term of the contract. Otherwise it is just a representation. In Ecay v Godfrey (1947), the seller sold the boat to the buyer at 750 pounds. However, the seller expressly gave the buyer the opportunity to survey the boat.It was held that the suggestion by the buyer that the seller independently survey the boat to be a representation. In this case, although both Stylish and Beauty had a clear intention of how the new house should be done, but the problem is that when the contract was done, that the intention was somehow not fulfilled. The contract states that the price of the house excludes window coverings, and is responsibility of the purchaser. This statement is a representation because the statement was made orally but was not written in contract. So far the essential elements of a contract and types of terms in a contract have been considered.However, even if a contract has all the essential elements and terms, it may be still declared as unenforceable if the vitiating factor is present. Vitiating factors are number of causes which may prevent a contract from being enforceable in law. The agreement may be vitiated to a void contract or voidable contract by causes of: mistake, misrepresentation, duress, undue influence, illegality. Void contract is treated as if there was no contract at all between the parties. Any belongings received from the agreement must be returned, any items that have been resold to another party, may be returned as well.And any contract that violates public policy is considered as void. Voidable contract A â€Å"voidable† contract, on the other hand, is a valid contract and can be enforced. Usually only one party is bound to the contract terms in a voidable contract. The unbound party is allowed to cancel the contract, which makes the contract void. The main difference between the two is that a void contract cannot be performed under the law, while a voidable contract can still be performed, although the unbound party to the contract can choose to void it before the other party performs.