Abstract This paper explains the theory of oligopoly and discusses how Australia's airline industry provides a solid example of an oligopoly market. It uses case studies of Qantas, Virgin and Tiger airlines to demonstrate how all need to employ profit-maximising strategies that take into account the likely response to the strategies of other firms.
Outline:
Introduction
Case Study
From the Paper "The combined profits of firms in an oligopoly can be maximised if they act together as a monopolist. Under "normal" conditions it is expected that firms in an oligopoly will collaborate to produce the optimal conditions for themselves. This leads to a practice known as price-fixing, whereby business competitors agree to sell a virtually homogenous product at the same price. The agreement itself is known as a cartel. Since the practice is anti-competitive, and economically inefficient according to neo-classical economics, it is illegal under the Trade Practices Act and has been the subject of a recent scandal in the airline industry worldwide."
An examination of Beard's thesis that the authors of the constitution were an elite who rejected democracy and desired a federal government that would protect and promote its own economic interests.
930 words (approx. 3.7 pages), 1 source, 1999, $ 33.95
From the Paper "There was widespread unrest and dissatisfaction with government under the Articles of Confederation. With thirteen states often going thirteen different ways, many feared for the future of the union. Men of property lamented the inability of Congress to collect taxes, to regulate interstate commerce, and to negotiate a favorable trade treaty with England. Widespread depression following the end of the war compounded the difficulties. Farmers in Western Massachusetts, led by Daniel Shays, rebelled. In the midst of Shays? Rebellion, a small group of delegates met at Annapolis, Maryland to discuss interstate commerce matters. However, the result was the calling of the Philadelphia Convention, otherwise known as the Constitutional Convention. The Articles of Confederation were discarded, but not necessarily for the good of the American people. Charles Beard argues that the Founding Fathers intended to provide for their own personal well-being in writing the Constitution. The authors of the constitution were an elite who rejected democracy and desired a federal government that would protect and promote its own economic interests.
From the Paper "Dave Thomas, founder of Wendy's Old Fashioned Hamburgers, has been called ?a living legend of American business. (Washington Speaker's Bureau)? He is most certainly one of the greatest American entrepreneurs of all time. From humble beginnings, Wendy's has become a six billion-dollar international corporation (Washington Speaker's Bureau). Dave Thomas has become one of the most recognized people in America. His influence reaches even to Congress where many of his adoption initiatives have become law (Wendy's homepage). Dave has won numerous restaurant industry awards and honors and has been asked to speak at numerous universities including Duke, Ohio State, and Clemson (Adguide's College Recruiter Employment Site). All of his accomplishments are found to be impressive considering that he began with nothing. "
A look at the development of capitalism and the merchant class in America, from 1787 to the 1877, and the effect it has on American economics to this day.
3,976 words (approx. 15.9 pages), 13 sources, 2000, $ 108.95
From the Paper "The prosperous nation of freedom and liberty was fueled by growth?socially, geographically, and most importantly, technologically. The period of time between the introduction of the Constitution (1787) and the last period of Reconstruction (1877) was one of the most innovative and influential periods in American history. As the country developed during these times, its economic system was molded and formed to the supposed best that it could be. Built on imitations and variances of existing nations economies, it became what was to be the cornerstone for modern day international capitalist economy. What made the United States the primary benefactor was its people's "almost universal ambition to get forward", thus creating the need for the technological innovations and sociological revolutions which became the building blocks of modern day economics (Taylor, 4). With new technologies being found everywhere, the merchant classes attempted to mold an entirely new, productive economic system"albeit good or bad"which The United States still rests upon today. "
Tags: america, colonial, post, railroad, revolution, technology, transportation
At look at Hawaii under the following headings: recreation, tourism, agriculture, industry, transport. Examines the urbanization that is occurring due to the growth of the economy.
1,185 words (approx. 4.7 pages), 3 sources, 2000, $ 40.95
Abstract This paper presents the uniqueness of Hawaii's economic geography and how it's growing economy is forever altering the land.
From the Paper "The Hawaiian islands are unique. Of course, it can be said that all places and regions are unique, since each differs in some particular way from its? surroundings. The unique differences of places and regions are what make the Earth an intriguing planet. "
Abstract This paper presents an analysis of how trade unions keep the American economy stable.
From the Paper " Over recent years, it has become fashionable in many quarters to write off trade unions, to label them as obsolete institutions out of touch with new realities and incapable of change. In today's world of individual employment contracts, performance-related pay schemes, Human Resource and Total Quality Management and all the other ingredients of the so-called "new" workplace, trade unions are often regarded as anachronistic obstacles preventing success of the market economy. As collective voluntary organizations that represent employees in the workplace, it is argued, trade unions no longer serve a useful purpose. "
From the Paper "The largest of the several countries to experience currency crises related to the "Asian Flu" of 1997-1998, Russia precipitated the collapse of its currency, the ruble, by announcing a moderate devaluation and a ?freeze,? or effective default, on much of its outstanding debt. Ultimately, Russia's currency crisis was caused by a fundamental inconsistency between its domestic policies: Russia could not maintain the ruble at a high fixed exchange rate while running a money-financed budget deficit. The magnitude of the crisis that ultimately occurred was aggravated by the phenomenon of economic contagion. As currency crises struck several Asian emerging economies, international investors increasingly scrutinized their Russian holdings, while their confidence in the Russian government declined. Indeed, Russia stands apart from the other nations that suffered from the Asian economic crisis, because Russia repeatedly suffered economic crises since Russian markets were created in 1992. Declining government revenues provided the shock sufficient to provoke a crisis. "
Abstract This essay examines the problem of traffic congestion and how governments are dealing with it. Furthermore it analyses the main differences between the public and private sector in imposing tariffs and tolls, as well as how the optimum price of tolls is determined. Finally it suggests solutions that could reduce congestion in urban areas
From the Paper "Congestion is mainly a problem as a result of shortage of road space, and luck of such facilities to satisfy the needs of passengers and travelers. In other words congestion problem deals with capacity Vs demand.Solutions that have been used until now seem not to work. Although the development in public transportation means (busses, trains, trolleys etc.) has had a tremendous growth in big cities, the problem not just remains the same but also increases other external problems such as ?"accidents, noise annoyance and environmental pollution, which all together contribute to an excessive social pressure"?.Why people still drive in cities? And why can"t we build more roads to cope with the problem" What differentiate congestion under the public and private sector? What's the government role in solving the problem of congestion?"
Abstract An analysis of the International Monetary Fund's Role (an international organization of 183 member countries), including an analysis of its successes and failures.
From the Paper "The International monetary fund (IMF) is an international organization of 183 member countries. It was established to promote international monetary cooperation, exchange stability, and orderly exchange arrangement; to foster economic growth and high levels of employment; and to provide temporary financial assistance to countries to help ease balance of payment adjustment (IMF) 2001. The success of this mission is partially achieved because of the political, social, cultural, economic infrastructure, and the continuous, fast change and spread of information technology. People in the developed and under-developed countries are exposed to an avalanche of information about the economic growth and prosperity of the developed nation. Poverty, Hunger, substandard living conditions, pollution, and epidemics of AIDS especially in Africa still go very much unnoticed. The recent protest in Washington DC as well as in Seattle and Europe against the World Trade Organization (WTO) testify to the resentment of many against the fund policy and ok the need for change."
Abstract A broad overview of the Federal Reserve System, emphasizing its history, its regulatory functions, and its impact on the economy.
From the Paper "Since the Federal Government has such a control over our Economy, I decided to tackle the subject of the Federal Reserve System and try to get a better understanding of the history, the structure, and the monetary policy of the power that it holds."
From the Paper "While the realized, or ex post, real interest rate is easily measured, the measurement of the perceived, or ex ante, real interest rate on which lenders and borrowers base their decisions is complicated because we do not have direct measures of expected inflation. There are several different ways to construct a measure of the expected rate of inflation. This paper considers three methods and compares the behavior of real interest rates implied by these alternatives."
Abstract This paper examines the pros and cons of the U.S. National Debt and concludes that the U.S. should attempt to reduce the debt, but not clear it.
From the Paper "For nearly 150 years the U.S. government managed to keep a balanced budget. The only time a budget deficit existed during these years was in times of war or other catastrophic events. For instance, the government created deficits during the War of 1812, the recession of 1837, the Civil War, the depression of the 1890s, and World War I. However, once each incident ended the deficit would be eliminated. The economy was much stronger than the accumulated debt and would therefore 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. 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 exponentially in size after 1980. It grew from $709 billion to $3.3 trillion in 1990, only one decade later."
Abstract With the fervor over the ethics of sweat shop production increasing, it is becoming important to look at viable solutions which provide meaningful change. The best example of alternative trade is the fair trade movement, which has been gaining momentum all over the world. This paper looks at this movement as it seeks to provide producers and consumers with choices.
From the Paper "In recent years the media has been focusing more and more attention on the harm being done to people living in poor countries by multinational corporations. Whether it's a sportswear sweatshop in Southeast Asia or a logging company in the Amazon, consumers in the First World are becoming aware of the consequences their choices have. Unfortunately, very few news items talk about the positive alternatives to big business, paying more attention to the scandal which occurs when it is discovered that some celebrity's fashion line is manufactured using children in Burma. One important alternative which has become slightly more visible in recent years is the fair trade movement, which empowers producers and addresses issues of consumer responsibility."
Tags: consumers, empowerment, labourers, production, women
Abstract This paper discusses the expected changes to the population and various solutions and opinions proposed by current economists, writers and politicians to prevent a threatened funding disaster of the current social security system.
From the Paper "Social Security is a popular program; it has consistently pumped out millions of monthly checks for 44 million beneficiaries, has reduced poverty among seniors by two thirds over the last 40 years and has allowed people with disabilities to make ends meet (Consumer Reports, 2000). Social Security is a genuine contributor to the sturdiness of the economic system. It's a promise to pay, secured by Treasury securities, which in turn are secured by taxpayers. The government has to use the money currently pledged for whatever the citizens decide Social Security benefits should be (Quinn and Ehrenfeld, 2000). "
Abstract This paper shows how the study of the economics surrounding slavery can give a better understanding of the issues surrounding both slavery and the Civil War. Topics covered include the origins of slavery, opposing views on slavery, the and the economic effectiveness of slavery.
From the Paper "Slavery and the civil war are very complex economic and historical issues. Many prominent Economic Historians view the institution of slavery vastly different from one another. With the difference in views also comes opposing opinions on whether or not the Civil War was actually needed to end the practice of slavery. While it is impossible to truly know what would have happened had events been different surrounding the American Civil War, it is possible to learn about the differences in opinions. Examining the origins of slavery, the opposing views of slavery, and the economics of the civil war can lend a clearer picture of this time frame"
Tags: slavery, Civil, War, south, economics, emancipation, abolition, profit
