BIG ECONOMIC ISSUES Samuelson has offered the world many economic theories. One area he is widely known for is his views on the spending multiplier. Samuelson has presented a way through his aggregate demand model to demonstrate how the spending multiplier affects individual types of spending...

Decades of controversy about the nature and appropriate boundaries of his discipline led the economist Jacob Viner to observe that "economics is what economists do." Somewhat more precisely, economists engage in systematic inquiry into the effects of those human activities which are grouped under t...

Britain's Trade and Finance after WWII The war, which broke out in September 1939, like the First World War, raised a host of supply problems, which could not be resolved satisfactorily by market forces alone. Once more, Govnerment had to take steps to control the economy and limits had to be pla...

In compiling unemployment statistics for the United States and other developed countries, an unemployed person is defined as anyone who is capable of working and is actively seeking work but is unable to find a job.1Before a person can be unemployed in this sense he must be an active member of the l...

Introduction For various reasons, China has always been an important country in the world. With its increasing large population, it was determined by other countries that is has a lot of economic potentials. In just one decade and a half, China has transformed itself from a giant that use to l...

The study of economics has always been recognized as one of the most complex studies that have ever existed in the history of mankind. Many do not realize that economics has evolved around us since the existence of the first human kinds. It has been continuously developed and became more essential ...

1961-1963 John F. Kennedy was president during this time period and we were under Democratic leadership. Kennedy's first year in office brought him considerable success in enacting new legislation. Congress passed a major housing bill, a law increasing the minimum wage, and a bill granting f...

China has always been an important country in the world. With its increasing large population, it was determined by other countries that is has a lot of economic potentials. In just one decade and a half, China has transformed itself from a giant that use to live in poverty into a wealthy powerhouse...

Introduction Hyper inflation has plagued most of the world's developing countries over the past decades. Countries in the industrialised world, too, have at times duelled with dangerously high inflation rates in the post WWII era. With varying degrees of success, all have employed great effo...

Financial Crisis The financial distress of the last two decades has revived interest on the question of the stability of the financial system. On the one hand, the "pessimist" view, associated primarily with Minsky argues that not only that the financial system is prone to such crises ("financial...

In the early 1920s Mussolini was amongst the first fascists to refer approvingly to the newlyemerging Italian Fascist state as 'totalitarian'. During the late 1950s and the early 1960s -particularly in a Cold War fixated America - a theory centred on totalitarianism became thedominant academic narra...

Effects of the Great Depression on Canada During the Great Depression of the 1930's, Canada's Prairie provincessuffered more than any other area in Canada. This time frame brought forthe farmers many years of droughts and grasshopper plagues, as each yeargot worse without any rainfall whatsoeve...