World Economics

Paper Summary:

This paper reviews four articles on different aspects of economics and then relates the whole of each article to the field of economics. The four articles discussed the are Capitalism in Western Europe, Asian Economies, Socialist Economies, and the Economics of Transition, each article being from a different economics journal and is written by a different author.

From the Paper:

"Rose (1999) describes employment policy in Western Europe and the United States and relates this to other aspects of the capitalist system. Rose notes that policies for reducing unemployment have been part of government programs since the end of World War II. The U.S. has pursued full employment only from time to time, while the countries of Western Europe have followed elaborate plans to achieve this goal. These polices have included a wide range of programs, such as fiscal and monetary stimuli, direct payments to the unemployed, job placement services, and policies to reduce the size of the labor force."

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