When the economy moves away from market-clearing equilibriums in employment we see a substantial decrease in GDP and the possibility of a recession or worse – a depression. There are, however, several theories on solutions to this problem and below I discuss the 2 most well known: The Classical Solution and the Keynesian Solution. Classical ...
Since the founding of the United States, the world cotton industry has been dominated by the farmers from the American south. Despite the changing times, the southern farmers have been able to maintain a comparative advantage over producers from other nations through various means. The free and ever-present labor that the farmers had at their ...
Even though the United States of America is regarded as a two-party political system, there are about fifty-one national third parties. Three of which have gained the most notoriety due to being actively involved electorally with a candidate in all political levels (national, state, county and local). These three major third parties are the Libertarian ...
As Rome burns, the liars, crooks, and shysters stumble about, desperately seeking to place the blame for these harsh economic times on their political opponents. I was listening to a variety of so called “conservatives” such as Sean Hannity and Rush Limbaugh, each of them placing blame on none other than the Democrats for this ...
In keeping with the definition of command economy a force outside of the market, government, must dictate the final outcome of all production. Most recently the examples of the former Soviet Union and its satellite nations and China serve as prime examples of a command economy. Some of the characteristics of a command economy are: ...
Karla News
Karla News
Karla News