The Great Depression is one of the most significant periods in American history. This period of economic recession began in 1929 and continued for another ten years. Today we are in the midst of another economic recession, one that was triggered by the sub-prime mortgage crisis of 2008. The intensity and scale of the present…
Category: Economics
Relationship between environmental conditions and standard of living
The relation between environment and human standard of living is an area of research that has been given inadequate attention. But there is an emerging consensus among intellectuals and research scholars that there is indeed a strong correlation between the two concepts. In other words, it is rarely a coincidence that poverty thrives in hostile…
A review of the US housing market crash of 2007-2008 & forecasts for the future
The severe decline in the state of world economy in the last two years is a culmination of several factors. But the bursting of the housing bubble in the United States alongside a precarious credit crunch situation have played major roles in precipitating the latest episode of economic recession in many countries. While the advanced…
Has globalisation exacerbated the problem of trans-national terrorism?
The multinational business enterprise and its attendant economic phenomenon of globalisation have become ubiquitous in the new neo-liberal world order of the last few decades. However, all too often, these enterprises’ activities have lacked prudence and foresight in terms of the consequences for the local populations. Moreover, the loopholes of international business law allow these…
Critical Analysis of ‘Global Capitalism: Its Fall and Rise in the Twentieth Century’ by Jeffry Frieden
Jeffry Frieden’s book Global Capitalism: Its Fall and Rise in the Twentieth century is a highly relevant topic today. Consistent with Frieden’s hypothesis, global economic integration has grown to new levels during the last century. Several arguments could be forwarded supporting the merits and demerits of this new economic order and its overall value as…
Affluenza by John de Graaf
In the book Affluenza, John de Graaf and his team of authors also present an analysis of other symptoms of Affluenza, such as commercial television, inhumane working and living conditions for the lower classes and the culture of living in perpetual debt. Commercialized television, for instance, has been the preferred medium for advertisers to encourage…
To what extent is social class the best indicator of twentieth-century voting patterns in Britain?
Social class continues to play a significant role in the electoral outcomes of all modern democracies. This is particularly true in Britain, as the nation still grapples with a historical legacy that is rooted in class divisions. Having embraced democracy toward the later half of the nineteenth century, political institutions have evolved to function around…
How the poor are punished twice by Affluenza?
John de Graaf and team’s well researched and eye-opening book “Affluenza: The All Consuming Epidemic” brings up several issues ailing contemporary industrial societies, such as deceptive mass advertisements, over-population, environment damaging toxic dumping, corporate greed, etc. Such lifestyle and social trends are no where more ostensible than in the United States of America. The USA,…
Affluenza: The All Consuming Epidemic by John de Graaf
John de Graaf’s well researched and eye-opening book “Affluenza: The All Consuming Epidemic” brings up several issues ailing contemporary industrial society, such as deceptive mass advertisements, over-population, environment damaging toxic dumping, corporate greed, etc. Of these, Corporate America has been chosen as the topic for this paper. The United States of America, being the world’s…
An assessment of the impact of the ideas and activities of John Maynard Keynes on the development of the international economy
John Maynard Keynes was arguably the most influential economic thinker of the twentieth century. His ideas and theories have generated academic discussion and debate. As with all landmark scientific achievements in human history Keynesian economics too has had mixed fortunes in its journey so far. The following quote from Knut Wicksell succinctly expresses this condition,…