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A Review of Adam Smith's Economic Classic, 2000.
A detailed look at economics classic "An Inquiry Into The Nature and Causes of The Wealth of Nations" by Adam Smith- the division of labor, the mercantile system etc.
20,000 words (approx. 80.0 pages), 1 source, $ 249.95
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Abstract
This paper begins with a review of the division of labour as presented in Adam Smith's economic classic. The paper considers the causes and how it is beneficial to society. Next, the paper looks at the topic of price and value of commodities and it expounds further on labour and its recompense, i.e. wages, and on the profits of stock and the rent of land. This review is followed by a review of the nature, accumulation and employment of stock and a short description of the towns-country interdependency in the industry of countries. The paper concludes with an examination of the mercantile system, the colonies and the colony trade of the world's greatest nations, that followed the great discoveries at the end of the fourteenth century and fifteenth century.
From the Paper
"The wealth of a particular people consists in the necessaries and conveniences that their annual produce supplies or provides them with the means to exchange for. The extent of that welfare depends on two basic circumstances: in the first place, it depends on the skill, dexterity, and judgement with which this produce is worked out, and secondly, it depends on the proportion between the number of those that are employed in useful labour and those who are not employed. The first circumstance is proved to be of more consequence; but the second, if it is proxied instead by capital, the stock of which has direct implications on the number of people employed in productive labour, is of no less interest and comes to the accumulation of wealth and growth of industry. Different theories have been put forward in the policies of the countries through the centuries in their strive to accumulation of wealth, but the mercantile, or commercial, has long been the favourite and its flavour is sensed in these days' economic policies too. To expose its inherent fallacies has been one major goal of the author of this book. "
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Joseph Schumpeter and Neo-Classical Economics, 2002.
Explains Joseph Schumpeter's economic theories and the neo-classical view of economics and then contrasts the two theories.
3,400 words (approx. 13.6 pages), 4 sources, $ 124.95
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Abstract
Schumpeter's economic theories as they are outlined in "Capitalism, Democracy and Socialism" differ significantly from the neo-classical view of economics. The neo-classical view is outlined-with reference to Adam Smith as a representative neo-classical economist--and contrasted with Schumpeter's theories. Schumpeter's absorption of Marxism, his views on markets and monopolies, and his ruminations on the future of capitalism are highlighted and contrasted with the neo-classical paradigm.
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Neo Classical Economic Policy and Consumption Theory, 2006.
A discussion regarding the neoclassical economic theory.
1,350 words (approx. 5.4 pages), 1 source, $ 53.95
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Abstract
This paper discusses how neoclassical economics provides an evaluation of current economic situations as they relate to elements within society. Neoclassical economics is a form of macroeconomics that allows for an evaluation of these elements that may include pricing employment spending consumption and the value of money. The paper further discusses how neoclassical economists as more capable of realizing the shift in the economy over time they can then produce resolutions to issues that may be affecting the problems that are related to the current economic condition. Neoclassical economics also focuses on the individual and his or her relationship to the economy.
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The Law of Thermodynamic Economics, 2007.
An analysis of the relationship between thermodynamics and neo-classical economics.
1,146 words (approx. 4.6 pages), 5 sources, MLA, $ 39.95
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Abstract
This paper discusses unsustainable consumption patterns and the laws of thermodynamics. It discusses the relationship between thermodynamics and the study of neo-classical economics and free-market society and its importance in the current economic model. Finally, the paper examines why ecological economics is antithetical to neo-classical economists and free market advocates and then discusses the need for further research on the topic.
Table of Contents:
Overview
Thermodynamics in Economics
Current Importance
Objections
Further Research
From the Paper
"The first law of thermodynamics is the law of conservation and this law is critical in the establishment of sustainable consumption patterns within a free-market economy that rejects all forms of constraints (Lawn pars.2-5). Although this law states that energy cannot be destroyed or created it illustrates that materials that result in energy can be depleted through transformation processes that result in forms of energy that cannot be harvested in an economic sense. Entropy is essentially the second law of thermodynamics and as such is central to thermodynamics as it is applied to ecological economics. Entropy is the concept in ecological economics that describes the state of potential energy as being less than the initial energy contained within an item or unit (Finch & McMaster 135). It describes the necessity of continually introducing new energy into economic activity to produce ever greater results or outcomes at the risk of economic shutdown."
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Behavioral Economics, 2004.
Examines an emerging, new subfield of economics known as behavioral economics.
2,367 words (approx. 9.5 pages), 6 sources, MLA, $ 72.95
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Abstract
This paper defines and explains the field of behavioral economics and highlights the major differences between behavioral economics and neo-classical economic theory. The paper goes on to demonstrate the value that behavioral economics has to offer to all aspects of the field of economics and how it can benefit the economic decision making process.
From the Paper
"In their article on Behavioral Economics, Sendhil Mullainathan and Richard Thaler explain the importance and relevance of this emerging sub-field within the field of economics. The authors begin their discourse on behavioral economics by first placing in context the focus of the sub-field and the essential differences with the main branch of economics. Behavioral Economics combines the field of psychology and economics in order to investigate "...what happens to markets in which some of the agents display human limitations and complications." (Mullainathan & Thaler) In other words, behavioral economics focuses on understanding socio-psychological behavioral aspects of economic agents."
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Economics and Democracy, 2002.
A study of the compatibility and implementation of economics and democracy using the definitions of socialism, capitalism and democracy of Marx and Friedman.
2,400 words (approx. 9.6 pages), 6 sources, $ 89.95
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Abstract
This paper is about the incompatibility of democracy and capitalism. The writer argues, using many classic political economics texts, that socialism would complement democracy's goals better than capitalism, which was developed in a monarchist paradigm of government. Capitalism results in the concentration of power in isolated locations, whereas both socialism and democracy distribute power evenly through a population. The paper cites Marx as well as Friedman, and opens with clear definitions of socialism, capitalism, and democracy drawn from the works of these authors.
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Economics in "Emma", 2002.
Aspects of the economic status of the character Harriet In the novel "Emma" By Jane Austen.
650 words (approx. 2.6 pages), 1 source, $ 26.95
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Abstract
This essay examines the character of Harriet in Jane Austen's classic story, "Emma", particularly the ways Austen reveals aspects of Harriet's economic status through the social and economic pressure that shape her life.
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Keynesian Economics.
This paper compares the Keynesian and the Neo-Keynesian schools and their application to the 'Price-Output Puzzle'.
1,190 words (approx. 4.8 pages), 1 source, MLA, $ 40.95
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Abstract
This paper explains, in contrast to the classical view that demand should be held relatively stable or static, Keynes believed that government spending was necessary to inflate production and infuse the economy with necessary dollars; the Neo-Keynesians applied neoclassical economic theories of monetary policy and the micro economy to Keynesian economics regarding the macro economy. The author defines the 'price output puzzle' as "why do not suppliers reduce prices rather than reduce supply?" This paper concludes that the major three functions of both the Keynesian and Neo-Keynesian theories, which include the consumption function, the investment function, and the liquidity preference function, should all be considered simultaneously, viewing the economy in a holistic fashion.
From the Paper
"Specifically, the first Neoclassical-Keynesian Synthesis is another way of referring to the Neo-Keynesian Revolution of the so-called IS-LM Model. The IS-LM model represents John Maynard Keynes's General Theory in the form of a system of simultaneous equations "The IS-LM model has remained one of the most formidable pieces of pedagogic machinery and, as far as back-of-the-envelope diagrammatic reasoning is concerned, one of the most efficient ever devised in economics. It is not, however, without substantial problems, both as an internally consistent model or as a representation of Keynes's theory." In other words, this Neo-Keynesian school works wonderfully in theory, but not so well in fact."
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Classical Marxist Theory and Classical Mercantilism, 2002.
Comparison paper on Marxism and Mercantilism.
1,496 words (approx. 6.0 pages), 2 sources, APA, $ 49.95
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Abstract
This paper discusses and compares the economic aspects of Marxism and Mercantilism. It also compares the strengths and weaknesses inherent in both systems. Finally, the paper compares the way Marxist economy viewed its position in the international economy and the way the Mercantilist economy viewed its position.
From the Paper
"While no single treatise written by Marx and/or Engels covered all aspects of Marxism, the Communist Manifesto suggests many of its premises, the work Marx is most famous for, Das Kapital, developed many of the socialists doctrines that Marxism is known for. Though not well known, many pieces of the Marxist system were actually drawn from earlier economic and historical ideas. (Avineri) Works by earlier political philosophers and economists such as, George Wilhelm Friedrich Hegel, Saint-Simon, J.C. L. de Sismondi, David Ricardo, Charles Fourier, and Louis Blanc were all liberally drawn from. Never the less, Marxist analysis as fully developed by Marx and Engels, was conclusively original."
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Macro-Economic Framework, 2002.
Compares the Keynesian and the Classical economic paradigms.
1,400 words (approx. 5.6 pages), 4 sources, $ 53.95
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Abstract
This paper argues that the Keynesian model of macro-economics is necessitated by the inherently unstable nature of capitalism. Data is drawn from Canadian media reports from the fall of 2000 through the spring of 2001.
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Economic Thermodynamics, 2006.
A discussion regarding thermodynamics and economics.
1,350 words (approx. 5.4 pages), 4 sources, $ 53.95
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Abstract
This paper discusses the question of including thermodynamics in the study of economics. It is very important to include it when studying neo-classical economics and free-market activity because it alone seems capable of introducing consumption pattern analysis into the study of economics. Thermodynamics is important within ecological economics and within economics in general because the environment within which all economies function is anchored in a finite system that is constrained by its very nature and character.
From the Paper
"Resources are limited and many are not reproducible in any type of practical natural sense that would allow even sustainable growth models to be applicable. Petroleum will eventually be completely depleted and the natural process of producing it is simply not a practical option that would result in sustainable consumption patterns. "
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Karl Marx and Economic Concepts, 1989.
An examination of the micro and macro economic concepts of Marx. A review of the classical theory, value, social processes, advantages and disadvantages.
1,125 words (approx. 4.5 pages), 10 sources, $ 39.95
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From the Paper
Introduction
"This research examines the Marxist economic system. In this examination, the interrelation between micro and macro economics is considered. Modern economics is divided into the two major areas of macroeconomics and microeconomics. The difference between the two branches of economics lies in the level of aggregation at which economic phenomena are studied. Macroeconomics is primarily concerned with the study of relationships between broad economic aggregates, such as (1) national income, (2) aggregate saving and investment, (3) the quantity of money, (4) employment, (5) consumer spending, and (6) many other high level aggregations (Rees, 1984).
Microeconomics, by contrast, is concerned with the study of individual decision units..(1) consumers, (2) households, and (3)..."
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Economic Models, 2004.
Looks at different economic models and their usefulness in resolving issues of whether or not a monopoly exists.
5,640 words (approx. 22.6 pages), 17 sources, MLA, $ 136.95
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Abstract
This paper uses the example of the increasing monopolization of the telecommunications industry to demonstrate the need for economic models that can help resolve issues of monopolization. The paper describes the purpose of economic models, the different types of models, and some of the factors and data that the models consider.
Outline
An Agent-Based Economic Model
Telecommunications market structure, development, and impact studies
Demand analysis and forecasting studies, modeling
Service and Network Cost Studies and Models
Comparative tariff, policy, and market analyses
Tariff Model -- International Comparisons
OECD Basket Comparisons of Telephone Services Charges - August 1997
Multivariable Regression
The Classical Model
The Classical Model of Production and Employment
Labor Demand
Labor Supply
Equilibrium
Aggregate Supply and Demand
Loanable Funds
Taxes on Labor Income
Animal Spirits
The Keynesian IS/LM Model
Tax Model (The Simple Keynesian Model)
Paradox of Thrift
The Mundell-Fleming Model
Real Business Cycles
The IS/MP Model
From the Paper
"With the agressive deregulation in the telecommunications industry in the United States and Europe during the early to mid-1990's, it seemed that the local monopolies would be forced to unbundle their networks. However, MCI WorldCom, the second largest US long distance telecommunications company, announced in October 1999, that it would acquire Sprint, the third largest US long distance company, in the biggest corporate takeover in history. The merger is valued at $129 billion in cash, stock and debt. The resulting firm will be second only to AT&T in the US telecommunications industry, a company with, as of 1999, $65 billion in annual revenue, 142,000 workers and 40 million business and residential customers (McGaughlin, 1999)."
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Marx and Classical Political Economy, 2004.
An analysis of the major differences between Marxian and classical political economy.
2,853 words (approx. 11.4 pages), 8 sources, MLA, $ 84.95
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Abstract
This paper attempts to show how the way in which Karl Marx broke from the analyses of the classical political economists is shown through the basic assumptions that he challenged. It identifies three key ways that form central points of departure from classical political economy. First, it examines how Marx's 'historical materialist' approach departed from the classical economists, in the way that the mode of production was identified as the driving force behind social and historical change. It then looks at how Marx broke away from the classical conception of the market mechanism and then shows Marx broke away from the individualist assumptions of the classical political economists. It also explores how the premise that an understanding of economic life can be derived from conceptualising the individual as a fundamental unit of analysis was a central assumption of the classical school and how Marx asserted that economic life can only be understood through the analysis of social relations and in particular the relations between classes.
From the Paper
"Markets, both Marx and the Classicals agreed, create a division of labour. In our day to day interactions, it is about exchanging goods for money. However, what Marx saw was a division of labour that is social, allocating people to different trades. In capitalism, labour is not directly social. It became social only when it appeared as the price of a commodity that was exchanged. The prices of commodities and the buying and selling of commodities at these prices constituted the indirect social relations of interdependent labourers. Thus, in capitalism the social interdependence of workers appeared, in the form of commodity prices, to be a set of relations among things (commodities) rather than a set of relations among workers. The Classical economists did not see that it is something that is produced, as they regarded commodities primarily as having use values."
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Economic Globalization, 2006.
An overview of the advantages and disadvantages of economic globalization.
3,394 words (approx. 13.6 pages), 24 sources, MLA, $ 96.95
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Abstract
This paper researches and examines the positive and negative impact of globalization. In particular, it looks at the concept of 'economic globalization' and examines the movement against economic globalization and the underlying motivations and arguments. Finally, it researches the evidence supporting each concept and concludes that the globalization in terms of economics has had an overall positive effect.
Outline
Statement of Thesis
Introduction
Positive Aspects of Economic Globalization
Negative Aspects of Globalization
Refutation of Counter Arguments
Anti-Globalization Movements - Classical Theorists
Discussion of Ways that Sovereign States Deal with
Negative Effects of Economic Globalization
Conclusion
From the Paper
"The Classical Theory holds that an open market for goods and factors of production (labor, capital and nature) will produce the best possible decision affecting growth technologies, distribution of income and the satisfaction of needs. however it is stated that "Most economists today recognize that the market system in the real world produces some undesirable effects - such as the increasing unequal distribution of wealth and power, the domination of markets by the largest producers, pollution and over exploitation of natural resources." (Panos, 2004) The classical theory in economics does not appear to function properly to the new economists."
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