Essay on The Return of Depression Economics and the Crisis...

In The Return of Depression Economics and the Crisis of 2008, Paul Krugman warns us that America’s gloomy future might parallel those of other countries. Like diseases that are making a stronger, more resistant comeback, the causes of the Great Depression are looming ahead and much more probable now after the great housing bubble in 2002. In his new and revised book, he emphasizes even more on the busts of Japan and the crises in Latin America (i.e: Argentina), and explains how and why several specific events--recessions, inflationary spiraling, currency devaluations--happened in many countries. Although he still does not give us any solid options or specific steps to take to save America other than those proposed by other economists, he†¦show more content†¦Much of the marketplace today is both political and economical and therefore, too powerful to defend against without any government interference. Unfortunately, much of America did not heed Krugman’s warnin gs when his first book was released in 1999 because America was still rising high. Technology and the top businesses of the day were just starting and booming very fast and smoothly. While technology and internet giants such as Google were growing, the United States’ government’s budget surplus was also increasing. Yet, our government departments--Federal Research and Congress still insisted that capitalism should be a free market--that it will save itself, that regulating credit default swaps was unnecessary. Americans were overconfident with their past successes and forgot to look to other countries as models. Now, lasseiz-faire has turned around to bite America in the butt. Krguman’s new book was published to remind us again of his old theory--that any financial institution will fail if left unregulated and that the people must urge the government to use its powers to promote growth in a new direction. The first part of his book introduces his argument that if the government does not start cracking down on businesses now, it will be confronted with even tougher choices in the future: do not print money and let citizens suffer immediately or print money and let them suffer anyway later. Clearly, both scenarios are not particularlyShow MoreRelatedThe Return Of Depression Economics1437 Words   |  6 Pages2008 Economics Noble Prize winner and Princeton University professor, Paul Krugman, translates the roots of modern and prior financial crisis economics. In his book, The Return of Depression Economics and The Crisis of 2008, Krugman first educates the reader of historical and foreign financial crises which allows for a deeper understanding of the modern financial system. The context provided from the historical analysis proves to be a crucial prospective in such a way that the rest of Krugman’s narrativeRead MoreWall Street : The Great And Powerful Financial District Of The World1407 Words   |  6 Pagesgreat and powerful fina ncial district of the world. With that statement being true Wall Street isn’t perfect. Wall Street has faced many problems throughout its existence as recessions and depressions came into play and single handedly pushed America into a financial crisis. As early as 1929 till as recent as 2008 recessions still occur and throughout the existence of Wall Street they will never stop existing. The argument of whether or not a recession could be predicted is a topic that many have differentRead MoreKeynesian Theory During The Great Depression949 Words   |  4 PagesSince the establishment of the Keynesian theory during the Great Depression, there was a continuous rivalry between Keynesians and monetarists. The ongoing debate was about which model can most accurately and correctly explain economic instability and which theory provides the best suggestions on how to achieve constant and steady economic growth. There are fundamental differences in these two approaches, for example ov er the usefulness of government intervention through fiscal policies, monetaryRead MoreEffects Of The 2008 Financial Crisis1030 Words   |  5 PagesThe effects of the 2008 Financial crisis were felt globally, it being the worst financial crisis since the Great Depression of the 1930s. Suggested in the documentary Inside Job shown in class, there were many factors which led to the 2008 Financial crisis. To better understand how it happened, we have to look back to the Great Depression of the 1930s. The Great Depression was the deepest and longest worldwide economic downturn in the 20th century. For fear of another economic collapse, strict regulationsRead MoreThe Great Depression Of The 1930 S1026 Words   |  5 Pagesmost influential economist of the 1900’s and many of his ideas were adopted by Franklin D. Roosevelt to combat the Great Depression of the 1930’s. With the passing of the economic crisis in 2008, countless articles have been published supporting Keynes and his economic thought. He originally investigated the origins of the Great Depression and remodeled the field of economics with a basic conclusion: economies recover from downturns by spending money. Keynes theorized that during financial downfallsRead MoreThe Return Of Depression Economics And The Crisis977 Words   |  4 PagesProfessor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University and is ranked among the most inf luential economic thinkers in the US.1 In his book The Return of Depression Economics and the Crisis of 2008 Krugman examines the economic crisis of 2008. He asserts that there were many tale tell signs and warnings throughout history that could have mitigated the crisis. Krugman contends that through history all financial crisis had commonRead MoreMoney Market Should Not Drop Below A Dollar1392 Words   |  6 Pageswith low risk and low return. Money market funds are often thought of as cash and a safe place to park money that isn t invested elsewhere. Investing in a money market fund is a low-risk, low-return investment in a pool of very secure, very liquid, short-term debt instruments. In fact, many brokerage accounts sweep cash into money market funds as a default holding investment until the funds can be invested elsewhere. (Rice) However, during the financial crisis of 2008, the dollar droppedRead MoreThe Recession Of The Great Recession1525 Words   |  7 Pagesfinancial crisis known as the Great Recession, which affected much of the world. It officially lasted from December 2007 to June 2009 and all began with the bursting of an 8 trillion dollar housing bubble. A volatile mixture of financial market chaos -triggered by the housing bubble- and low consumer spending left millions of Americans wondering about their economic fate, the fate of their neighbors, and the fate of the nation. The Great Recession, from 2007-2009, is the greatest economic downturnRead MoreThe Election Of Illinois Senator Barack Obama948 Words   |  4 Pagesthe 2008 election between Illinois senator Barack Obama which is our 44th president and Arizona senator John McCain. This election was historical in many ways. For one Barack Obama was the first African-American man to ever be elected president of the United States of America. Another reason would be that the U.S. achieved record voter turnout numbers of African-Americans and Hispanics. Also it is estimated that over a 136 million Americans voted for president in the 2008 election. In the 2008 electionRead MoreThe Financial Crisis Since The Great Depression Of The 1930s1006 Words   |  5 PagesThe 2008 Financial crisis was the worst financial crisis since the Great Depression of the 1930s. Suggested in the documentary Inside Job shown in class, many factors led to the 2008 Financial crisis including a largely unregulated financial sec tor, and complex financial instruments threatening stability of markets, and greedy predatory business tactics. The Great Depression was the deepest and longest worldwide economic downturn in the 20th century. Fearing another economic collapse, strict regulations

A Brief Note On Journalism And Its Effects On Journalism

Raveena Singh CS 4001 4-25-2016 Automating Journalism Journalism should be as automated as possible and the production of tools to help journalists supplement their articles should be encouraged. For data-intensive fields, more algorithms with the ability to report news without human intervention should be generated. Although there is a fear that these new technologies will have harmful effects on journalism, collaboration between the technology and journalism industries will benefit the future of journalism. New technology will lead to cheaper production costs in the long run, greater content coverage, and overall higher-quality content. Journalism has changed over time with the help of technology. The tools that journalists use to create†¦show more content†¦These tools include: Google Glass, Columbia Daily Tribune maps, metro maps, and algorithms. These tools have saved time, money, and resources compared to traditional journalistic methods. In the past, working for the newspaper meant discovering a good story, conducting interviews and research, and submitting stories on time. These elements stay at the core, but new elements have been added. Now, it is standard to generate video and audio alongside text, including an email address, and using web tools to add depth and richness to articles. It is also important to get information to readers as fast as possible on any platform they use (Regan, 2000). Technology will change the future of the way journalism is conducted. Just as phones gave reporters the ability to stay on the scene of a story longer, TV gave the ability to tell news stories with moving images. New media is already changing how journalists do their job, whether they welcome the changes or not. Producing this supplementary material will be a part of every reporter’s job description. The heart of good journalism, storytelling, will remain a priority, but the tools used will certainly change (Regan, 2000). Technology has changed the newspaper media industry in terms of how we read and report news. A reporter arriving to a scene with a pen and paper is an iconic image, but to be a successful journalist in the modern world

Services Marketing Competitive Market

Question: Discuss about the Services Marketing for Competitive Market. Answer: The seven Ps of marketing mix for Raywhite (Brisbane): Product: The product or the service offering of Raywhite (Brisbane) can be identified as an agent in buying, selling, renting and loan providing services of the company. It also provides real estate related guidance to the consumers. Price: As the organization is operating in a competitive market, the pricing policy it is following is the competitive pricing. As mentioned by Lovelock and Patterson (2015) this pricing strategy helps the companies to be valid in the competitive markets. Moreover, as the company is dealing in the real estate business, the price elasticity is negligible for them. Promotion: As mentioned by Crowe et al. (2013) in modern business world, the organizations have rightly directed their promotion strategy towards the online interfaces. Raywhite (Brisbane) is not an exception in this regard. The organization has a user-friendly website, which is helpful in making commercial interactions with the consumers. Moreover, the organization is widely present in the modern social networking websites like Facebook, Twitter, Google+, YouTube and many more (Raywhite.com 2016). The organization is using the strategy of advertising in these sites. Place: As mentioned by Lovelock and Patterson (2015) in the context of the service providing companies, the way of interacting with the customers can be identified as the place of marketing mix. Here, the company is operating via online interface (Raywhite.com 2016). As discussed earlier, the website of the company is developed in such a way that it enables the company to provide its service to the potential customers. People: The employees of this organization are trained to provide the online service to the customers. In spite of the fact that direct contact is limited in such transactions, the trained professionals handle the data provided by the customers (Raywhite.com 2016). Moreover, the employees are well aware of proving the authentic information and services to its customers. Process: As the company is operating via online sources, it asks a few information from the user regarding their preferences for the service or information. After registering the required information, the website automatically generates the information to the customers (Raywhite.com 2016). In addition to this, for any further query, the customers or the interested parties can contact via mail, phone or the office of Raywhite (Brisbane). Physical environment: The website or the portal of the company is easy to use. Moreover, it is well-decorated with all transaction related information (Raywhite.com 2016). It is direct, nimble to install and professional in its outlook. For a real estate business, the physical environment or appearance of the website is attractive and useful. The market and competitors: Raywhite is one of the most successful real estate agents of Australia especially in the rural sector. Their market share is huge as compared to other real-estate agents like Westfield. The companys operational revenue has increased to $24.1 million from 19.5 million dollar (Raywhite.com 2016). As Australia has become one of the most technological advanced countries and the IT industry has evolved rapidly hence lots of people all around the world are invading the nation increasing the demand for the rental homes. As opined by Crowe et al. (2013) within 2020 real estate industry of Australia will be the strongest industry with maximum contribution to the GDP of the country. In this vast growing industry Raywhite is one of the most successful company as it has not only kept itself in the main city areas but have also penetrated in the rural areas where they have successfully provided rental homes, lands at a very cost effective price. This is the main reason behind their huge turnover. Their profit percentage increases to about 5% in every 3 months resulting huge openings for jobs (Gold Coast Bulletin 2016). Its closest competitors like ABN Group, Australian real estate investment trust, Westfield group only have early revenues to about, $7.5 million, $4.5 million dollars, $ 9.5 million dollars respectively which is nothing to $19.5 million dollars of Raywhite (Crowe et al. 2013). References: Crowe, C., DellAriccia, G., Igan, D. and Rabanal, P., 2013. How to deal with real estate booms: Lessons from country experiences.Journal of Financial Stability,9(3), pp.300-319. Gold Coast Bulletin. 2016.Gold Coast Bulletin. [online] Available at: https://www.goldcoastbulletin.com.au/ [Accessed 18 Sep. 2016]. Lovelock, C. and Patterson, P., 2015.Services marketing. Pearson Australia. Raywhite.com. 2016.Ray White, Australasia's largest real estate group | residential | commercial | rural | projects | hotels | marine |. [online] Available at: https://www.raywhite.com [Accessed 18 Sep. 2016].