Macroeconomic Data Analysis and Report Essay Example | Topics and Well Written Essays - 750 words - 2

Macroeconomic Data Analysis and Report - Essay Example Note that the populace development rate is a significant factor in checking the monetary exhibition of a state and by taking the instance of these two nations it will be anything but difficult to set up their financial patterns. In the event that this is introduced in a table structure or graphically the pattern will give a knowledge into the financial qualities of the two nations. Conversion scale is crucial in looking at the quality of the cash between the nations and this is a file of estimating level of financial development holding different components consistent. Buying power equality is significant in estimating the swelling rate between the two states under contextual analysis. The proportion of gross national item to GDP is significant in giving a ground to assessing the measure of salary that is repatriated to different nations. Greater proportion implies ominous profitability of the nation and overdependence on remote capital and gifted labor. To clarify the monetary devel opment and improvement equality between these two states should be introduced in diagrams. The figure one above shows that the trade rates between the two states have a wide hole and this is reliable over the three years. Note that UK is increasingly evolved and financially steady as reflected by its nearly lower conversion scale than Saudi Arabia. Considering the figures of conversion standard over the years gives a few changes for United Kingdom while Saudi Arabia has a steady swapping scale which indications stable money and reliable financial development than in UK (Sarno and Taylor, 2005, 98). Joined Kingdom has a high populace which presents a strain on the current assets however thinking about the land size of the state. The purpose of worry for this situation is the pattern in populace development. The pace of populace increment is high for Saudi Arabia than UK and this present expansionary danger to Saudi Arabia as the populace will put consistent

New World Order, Old World Mess Essay Example | Topics and Well Written Essays - 1750 words

New World Order, Old World Mess - Essay Example The following virus war was a push to demonstrate which side was directly in best accomplishing a world request, a condition of ideal world, a heaven where countries find a sense of contentment and all segments of social request are set up, individuals unreservedly picking their rulers, and everybody evenhandedly compensated for their work. This new world request, they trusted, would be the product of participation and comprehension among countries that common similar estimations of harmony, equity, satisfaction, and opportunity (Russett 24-33). The ruin of socialism demonstrated that entrepreneur vote based system was better, however not really the ideal arrangement, and for a concise period the world's forces imagined that the elements for creating another world request were set up, one dream and one technique of countries under the West's model of free market financial matters and political majority rule government. In any case, rather than a period of harmony, what followed was a tempestuous decade until 9/11 which caused people groups and countries to understand that their common qualities and their meanings of ideal world contrasted, and that various people groups, countries, and societies got harmony, equity, bliss, and opportunity in various, in any event, clashing, ways, making the new world request seem to be like the past ones described by tumult (Fukuyama 120-121). The finish of the twentieth century was not the quiet period everybody figured it would be. The breakdown of the East discharged repressed social strains that had stewed for quite a long time, falsely controlled or cunningly disguised by the virus war (Fukuyama 1993: 213). Indeed, even before the elation of Berlin blurred, vicious blasts were felt in Kuwait, Afghanistan, Yugoslavia (Bosnia, Serbia, Croatia), the previous U.S.S.R. (Russia, Chechnya, Armenia, and Azerbaijan), and Africa (Rwanda, Sudan, Liberia, and Angola). These contentions were... The destruction of socialism demonstrated that industrialist popular government was better, yet not really the ideal arrangement, and for a short period the world’s powers felt that the elements for making another world request were set up, one dream and one technique of countries under the West’s model of free market financial matters and political majority rules system. In any case, rather than a time of harmony, what followed was a violent decade until 9/11 which caused people groups and countries to understand that their mutual qualities and their meanings of ideal world varied, and that various people groups, countries, and societies got harmony, equity, joy, and opportunity in various, in any event, clashing, ways, making the new world request appear to be like the past ones portrayed by turmoil (Fukuyama 120-121).The finish of the twentieth century was not the tranquil period everybody figured it would be. The breakdown of the East discharged repressed social str ains that had stewed for a considerable length of time, misleadingly controlled or slyly disguised by the virus war (Fukuyama 1993: 213). Indeed, even before the elation of Berlin blurred, fierce blasts were felt in Kuwait, Afghanistan, Yugoslavia (Bosnia, Serbia, Croatia), the previous U.S.S.R. (Russia, Chechnya, Armenia, and Azerbaijan), and Africa (Rwanda, Sudan, Liberia, and Angola). Right around two decades since the finish of the virus war, the new world request has been re-imagined as a war against fear based oppression, as dictators utilized by both the East and the West indicated their genuine nature and started gnawing the hands that took care of them.

Return of the Jedi by George Lucas

Return of the Jedi by George Lucas Patrick RonanMay 14, 2014Steven SaccoSalvation HistoryStar Wars: Apocalyptic DaysConsidered to be one of the best film adventures ever, Star Wars isn't without a lot of examinations with prophetically calamitous writing. Regardless of whether George Lucas purposefully put these in here or not, they are there. While there are numerous instances of it, the three major ones occur toward the start, center, and the finish of the film. In any case, these whole-world destroying subjects are not associated with each other to shape a major picture. Be that as it may, every one of them shows an association between Star Wars and prophetically calamitous literature.The starting one is a line all of you know. A Long Time Ago in a Galaxy Far Away. This is the first included in light of the fact that it is a chronicled statement and everybody knows it. The manner in which this identifies with prophetically calamitous writing is that it says that the film is written all things considered; despite th e fact that the innovation is too best in class to even think about taking spot in the past.A representation of George Lucas, Pasadena, California, ...Another explanation concerning how it identifies with whole-world destroying writing is that says in a Galaxy Far Away, which could mean a heavenly level; or in layman's terms, a genuine fight. The following connection is somewhat less verifiably known, the part where the union is caught between the Death Star and Star Destroyers.This relationship is about the prophetically catastrophic subjects of when the dissidents are caught. This is a significant piece of whole-world destroying subjects due to two reasons. One, it show that they have to battle, despite the fact that many will pass on, and that there will be trust a while later; this is appeared by how the constrained field around the Death Star is deactivated after around 15 film minutes of being pulverized. The subsequent explanation is it is a...

Essay Topics - Make Your Essay Writing More Fun!

Essay Topics - Make Your Essay Writing More Fun!When creating an essay topic, a student should be able to find an essay topic that includes their chosen topic but without an additional consideration. By 'adding' an additional consideration, it means either 'adding' in another point of view or separating the topic from the statement of facts. Many high school students see an essay topic as a pure review of the material and do not realize that an essay can also include other elements.The Harvard Law Review has provided a good example of how a good essay topic can be developed. For most students, the example will be easy to follow. In their sample essay, the Harvard Law Review has mentioned aspects of the case as well as the history of the defendant. As in the statement of facts, a student should provide the defendant's name, the crime, the accused as well as their mental capacity to make the decision to commit a crime.Students must also consider where to post their essays. Social media websites such as Facebook, MySpace, and Twitter have become popular for recent graduates who are looking for a fresh perspective on their life. In recent years, social media has provided a platform for students to give online presentations about their topics. By posting a slide show on these sites, a student can connect with a number of other people by discussing their interests and sharing personal stories.It is important to find a site that gives proper and appropriate editing for a social media website. A common concern is the availability of content and the lack of formal guidelines for using social media. Most websites allow you to copy the content into your own blog or text only accounts, and some allow you to create a page on the website for such a purpose.An advantage of using social media is that it allows one to gain a global perspective on a particular topic. One can not only talk about topics that are relevant to them, but can share their knowledge about the area with o thers. A student should be careful when choosing social media as an avenue for expressing opinions.Finally, by making the choice to use social media as a teaching aid, a student can save time by avoiding travel and accommodations for attending meetings. Not only does social media allow a student to avoid a cost but also gives him or her the opportunity to engage in dialogue with friends, colleagues, and the media.By following these steps, students will be able to successfully develop essay topics for the upcoming semester. By making a few simple changes, students can help themselves and their professors by creating effective essays that use social media as a teaching tool.

Deterioration of economic conditions affect childrens ability

Sample details Pages: 8 Words: 2327 Downloads: 4 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Critically discuss the evidence underlying the claim that the deterioration of economic conditions that usually results from family disruption is the major explanation for the lower ability and achievement of children in disrupted families. This paper considers whether, and to what extent, the deteriorated economic situations caused through family disruptions and economic deprivations are the main reasons for childrens lower competences and attainments. Firstly, the association between disrupted family and economic circumstances are considered in line with some recent economic theory. Don’t waste time! Our writers will create an original "Deterioration of economic conditions affect childrens ability | Economics Dissertations" essay for you Create order Secondly, the reasons why economic circumstances arising from family disruptions are identified as being the foremost predictors for lower ability and attainment of children in disrupted families. This claim is examined. In addition, issues within previous studies are then investigated. Lastly, the implications for enhancing childrens outcomes regarding this issue are also discussed. How family disruptions are linked to deteriorated economic conditions Due to a dramatic change of family structure in modern societies, questions about the impact of family disruptions (e.g. separation/divorce, step-parenting, remarriage) on economic conditions, measured by home ownership, income and size of the residence, have appeared to be increasingly significant. There have been a number of studies explaining the relationship between disruptions in family life and economic circumstances. Numerous longitudinal and cross sectional research reveals that disruptive events in families cause economic disadvantage (e.g. Amato, 2000; Duncan, Yeung, Brooks-Gunn and Smith, 1998). Divorced individuals typically have greater economic deprivation than married individuals (Marks, 1996; Ross, 1995). Researchers have reported that women are likely to have more serious problems with economic consequences in comparison with men (e.g. Holden and Smock, 1991; Ross, 1995; Smock 1994) and that lone mothers are considered to be in the poorest situations after separation or divorce (Ram and Hou, 2003). For example, the longitudinal study of Bianchi, Subaiya and Kahn (1999); focusing on the gender gap in economic well-being among the couples with children after family disruptions in the United States, found that there was a 36% decline in living standard of custodial mothers, whilst noncustodial fathers experienced a 28% increase. It can be seen that in general, mothers post-divorced standards of living was merely a half that of the fathers. Moreover, to compare with divorced men or married women, lone mothers tend to have more monetary problems over longer period. Amato (2000) explains this incidence that women, compared with men, have more interrupted work histories prior to divorce, experience greater workfamily conflict (due to their responsibility for children), and are more likely to experience employment and wage discrimination (p.1277). However, the deleterious economic conditions can be relieved in step-parent families (Amato, 2000) Why is economic deprivation from family disruptions claimed to be the major predictors for low outcomes of children? Over the last few decades, researchers have focused attention on the economic consequences of changes in family structure, identifying family disruptions as key causal explanations for lower childrens outcomes. It has been found that the deterioration of economic conditions, caused by disruptive events in the family such as single-parenting and divorce are greatly related to negative outcomes among children (Pearson and Thoennes, 1990; Bronstein, Stoll, Clauson, Abrams and Briones, 1994; McLanahan and Sandefur, 1994; Duncan, Brooks-Gunn, Yeung and Smith, 1998; Gue, 1998; Amato, 2000; Ram and Hou, 2003). Household income is often considered to be significant in explaining childrens outcomes (Mulkey, Crain, Harrington, 1992). Congruent with the explanation of Haveman and Wolfe (1995) The income level of the family in which a child grows up is perhaps the best measure of the level of economic resources devoted to the child by the parents, and is often included in the studies of childrens educational attainment (p. 1855). It is well known that different types of family have different effects on childrens ability and outcomes due to their differing economic situations (Schneider et al., 2005). Intact families usually have more income than single-parent families, and this advantage becomes a part of developing childrens educational outcomes (McLeod and Shanahan, 1993; Duncan et al., 1998; Schneider, Atteberry, Owens, 2005). On the other hand, children from single parent-households have more limitations in economic resources in comparison with children from intact families. Single parents, particularly lone mothers often spend more time outside of the home to compensate for the economic loss due to separation or divorce. This is likely to affect childrens ability and academic outcomes because of reducing time for involvement with their children. Parents who have lower incomes due to a separation or divorce are less able to provide their children with material resources such as school equipment, computers and extra lessons (Ross, 2005) Negative impacts on academic achievement of children related to living in separated families, often results from reduced provision of economic resources. Boggges (1998) has suggested that there are few effects on childrens academic performance when the economic status is controlled in research, achievement were found. However, persistent negative effects on graduation rates were found. In addition, Schneider et al. (2005) argues that although step-parenting families (non-traditional families) are often more advantaged in economic resources, the outcomes of the children remain lower than the outcomes of children from traditional families. This is because step parents may not provide step children with the resources like they might towards their biological children (Schneider et al., 2005). Ram and Hou (2003) similarly propose that children in step families are no different from those raised in lone-parent families in a number of spheres, including cognitive skills, hyperactivity, and indirect aggression, even after economic condition and familial resource variables when held constant (p. 326). This is commonly compatible with the studies of some researchers who found children from step families less well performing in school and exhibiting more emotional and behavioural difficulties (Coleman, Ganong, and Fine, 2000; Hanson, McLanahan, and Thomson, 1997; McLanahan and Sanderfur, 1994; McMunn, Nazroo., Marmot, Boreham and Goodman, 2001) In addition, children who live with other types of two-parent households, such as with grandparents or relatives, are also likely to have more disadvantages than children living in intact households, and the same or lower level than children in lone-parent households (Chase-Lansdale, Brooks-Gunn and Zamsky, 1994). According to Downey (1994), although children in lone-mother families often lack economic resources, some children in lone-father families have problems with a deficiency of interpersonal resources such as involvement in childrens tasks. He also suggests that childrens outcomes in both types of family are roughly equal (Downey, 1994). Moreover, it was found that children who live with the same gender or opposite gender parents slightly differ in outcomes. While economic situations have often been considered as the most significant factors in explaining childrens outcomes of the disruptive families, the study of Kerr and Beaujot (2001) investigating Canadian children found that there are low income is less important than other factors such as the function of family, number of children in households, educational level and age of the parents. Similarly, Mulkey et al (1992) argue that economic conditions are not a significant mediator between lone-parent families and the low attainment of children. They also state that living in lone-mother households is not more detrimental than living in lone-father families, and income is not the major issue explaining the relationship between family structure and childrens academic performance. Problems with the studies The findings of some studies have been ambiguous when indicating the association between family structure changes and childrens outcomes. For example, do deteriorated economic conditions in disruptive families often affect the childs educational outcomes? Or do children with lower ability or lower attainments usually come from families with monetary problems? In addition, the prior problems before parental divorce or separation are often neglected. According to longitudinal research by Ram and Hou (2003) children of several disruptive families were already registering academic difficulties. Second, there is little specific mention regarding the time within the lifecycle of the child of the deteriorated economic situations. Duncan et al. (1998) suggest that the economic situations amongst children in the early years have the most influential impact on attainment, especially among children in low-income families (Cherlin, Chase-Lansdale and McRae, 1998; Duncan et al., 1998; Amato and Sobolewski, 2001). This should be different from the findings derived from adolescents. Therefore, a clearer specification of period when economic deprivation takes place should be inserted. Third, the comparisons of income across different types of households are ambiguous. There is an unclear distinction between the income before disruptions and the income after disruptions. For example, some families may have financial problems before disruptions. Furthermore, the stability of income also should be considered because earning cycles in each family differ, and may vary across the year. Lastly, it can be seen that ethical considerations are not adequately addressed in a number of studies even though the research touches upon highly sensitive areas of family life and predictions of childrens achievement. Such matters are usually quite confidential and the complicated relationship that might negatively affect the subjects, so the reader needs to know how the data for the research was gathered and in what conditions. For example, the protection and welfare of the participants, the use of deception, confidentiality and the anonymity of data are issues that should have been addressed and considered more fully in order that subsequent research operates within accepted ethical boundaries. Implications Public policy Public policy should be more focused on the welfare of single-parent families, particularly lone-mothers. As several studies have reported, single-mothers or custodial mothers are more likely to have more financial problems than any other types of family (e.g. Holden and Smock, 1991; Ross, 1995; Smock 1994). After disruptions, they have to spend more time outside of the home in order to earn money to compensate for the loss of family income. This association in single-parent families seems to be unrelieved until re-marriage happens. In addition, if income can be considered as a significant factor in predicting childrens later achievement, it also acts as the resource to provide the means for their progression. One implication of these findings is the need for critical considerations about higher pay for women and income support programmes, in particular, for single mothers who have to bring up their children on their own to assist them cope with problems derived from economic depriva tion after disruptions. Also, more extensive child care and support should be provided in order to meet the needs of these children. Schools Teachers should be more deliberately concerned with their reactions and behaviour to children from lower income families. Some teachers tend to react to such children differently due to their economic backgrounds (Mulkey et al., 1992). In addition, the understanding of misbehaviour of the student is important. Some inappropriate behaviours of students in classrooms may occur due to depression or bereavement from disruptive events in their family. Therefore, whenever the behavioural problems of students appear, instead of focusing on them only, teachers should consider the contexts of students such as family backgrounds in order to prevent misunderstanding as well as find the way to assist and support children. Furthermore, teachers in schools should have more concern and care about their own behaviours as a role model for all students because the students, especially the children in their early years tend to observe and replicate teachers behaviours. Parents Parents are the individuals who are likely to be the most influential role models for childrens lives. A careful family plan may be one strategy to ensure stability for the child. The home environment should also be considered because it is a significant source of learning. The quality of the home environment its opportunities for learning, the warmth of mother-child interactions, and the physical condition of the home accounts for a substantial portion of the powerful effects of family income on cognitive outcomes (Duncan et al., 1998, p.209). Furthermore, having a stable level of income is important because low and unstable income leads to economic pressures that may cause conflict between partners experiencing serious financial issues (Conger et al., 1993). The income level of the family is a powerful predictor of the economic pressure that has both direct and indirect impacts on childrens achievement (Duncan et al, 1998). Conflicting or disruptive events in the families can als o be traumatising events for children. Parents should avoid using force and presenting unpleasant behaviours at home and in front of the children, because it may be the cause of later aggressive behaviours from children. Conclusion It appears in several studies that economic conditions are the significant explanations for the association between family structure and childrens achievement. The diminution of material resources due to deteriorated economic conditions, which often derive from disruptive events in families, has significant impacts on educational outcomes of children (Ram and Hou, 2003). In several studies, when income is restricted, children in disrupted families tend to have lower attainments than children in intact or non-divorced families. Research reports that the majority of children in intact families are at an academic and social advantage in comparison with children in non-intact families. A childs achievement generally depends on the economic resources that are given by parents, children who live in an intact family tend to have high attainments. This is because lone-parents have less income and have less time to be involved in household activities such as helping children to do their homework. This leads to the lower outcomes of children. Children who grow up in lone-mother families tend to have the lowest attainments in comparison with growing in other types of families. In addition, although children who live with step families have opportunities to have more economic resources than those who live with single-parent families, the researchers state that there is no difference between the educational outcomes of children in lone families and the child outcomes in step-parenting families (Coleman et al, 2001; Hen son et al, 1997; Ram and Hou, 2003). It might therefore be concluded that the deterioration of economic circumstances after separation or divorce may explain part, but by no means all, of the lower outcomes among children who have experienced parental disruptions.

Physician Assisted Suicide Should Be Legal - 935 Words

In the article â€Å"Why Doctors Must Not be Complicit in Killing Their Patients,† published in Ethics and Medicine: An International Journal of Bioethics Dr. C. Ben Mitchell, Ph.D., discusses the ethics of physician-assisted suicide. In the process of physician-assisted suicide, a doctor purposefully provides a terminally ill patient with the means to take their own life. This is often confused with active euthanasia; however, they are not the same thing. In euthanasia, the doctor administers the lethal drug to the patient, but in physician-assisted suicide, the patient must take the lethal drugs themselves. There is much debate over physician-assisted suicide today. Some people believe physician-assisted suicide should be illegal because†¦show more content†¦He then shows how these quotes are significant to his argument by relating them back to the point he is making. However, when stating statistics, he does not give a source; he either uses the vague phrase, â₠¬Å"the evidence shows,† leaving the reader to wonder what evidence he is referring to or does not provide a source at all. Also, while Mitchell does acknowledge the arguments from proponents of assisted suicide, there is still some slight bias in his article. He mainly focuses on the effects that assisted suicide will have on medical professionals and what they should do to relieve patient suffering, while not taking into consideration what the patient may want or feel. Mitchell’s article follows a logical organization pattern. He begins by presenting the arguments of the other side, offers his refutations, and ends by discussing what healthcare providers can do instead of assisted suicide. However, there are a few minor flaws in his arguments. Firstly, he uses the terms assisted suicide and euthanasia interchangeably, leading the reader to believe that they are the same thing when, in fact, there is a difference. Also, his inclusion of the etymological origin of the word patient does not do anything to strengthen his argument, as the origin of the word means nothing to its use today or the context of the argument. Finally, Mitchell presents the legalization ofShow MoreRelatedShould Physician Assisted Suicide Be Legal?901 Words   |  4 PagesWhen society ponders over the idea of physician-assisted suicide, they most likely feel that the act itself would compare to murdering someone. Who really has the authority to say what is right or wrong when a loved one wants to end their life because of a terminal illness or a severe physical disability? Should Physician-assisted suicide be Legal in California to make it a euthanasia state like Oregon ? In the article titled â€Å"Nicest Lawmaker Touts Assisted Suicide,† by Clea Benson published The BakersfieldRead MorePhysician Assisted Suicide Should Be Legal1578 Words   |  7 Pagesmeasures. One of the alternative options is Physician-Assisted Suicide; defined as the voluntary termination of one’s own life by administration of a lethal substance with the direct or indirect assistance of a physician (â€Å"Physician-assisted†¦Ã¢â‚¬ ). In layman’s terms it means that a physician administers medications to the patients to use on their own terms, and it’s entirely up to the patient whether or not to ingest the medication. I know Physician-Assisted Suicide is a practical solution to terminally illRead MoreShould Physician-assisted Suicide Be Leg al? 1473 Words   |  6 Pages Should physician-assisted suicide be legal? This debated subject has no right or wrong answer. Assisting someone in death has a felony murder conviction in some cases. There are a few different ways of being charged, but there are certain circumstances. There are many reasons why I am for it and of course, I have reasons against it. When you have a loved one in a vegetative state, does the family say yes or no to â€Å"pulling the plug?† Is it not the same as assisting a person in death? AnotherRead MorePhysician Assisted Suicide Should Be Legal1325 Words   |  6 PagesThe topic of physician-assisted suicide has become very controversial because of the ethical questions. The physical state of health of the patient, the patient’s personal life, and even the financial pressure of the patient are all factors to consider when contemplating whether or not to legalize this controversial cause of death. Physician-assisted suicide r egarding medical ethics states that a physician cannot legally give any patient a lethal injection to end their life, but they can take theRead MoreShould Physician Assisted Suicide Be Legal?761 Words   |  4 Pages We Should be in Favor of Physician-assisted Suicide In a momentous decision released February 6, 2015, the Supreme Court of Canada ruled that Physician-assisted suicide will be legal in Canada within 12 months. This deci-sion has caused a myriad of controversy. Opponents of physician-assisted suicide argue that the constitution recognizes the sanctity of life and no one has the right to end the life of another person’s. Supporters, on the other hand, argue that patients who experience constantRead MoreShould Physician Assisted Suicide Be Legal?847 Words   |  4 PagesShould-Physician Assisted Suicide Be Legal In Every State When it comes to the topic of, should physician-assisted suicide be legal in every state, most of us will readily agree that it should be up to a terminally ill person to make that decision. Whereas some are convinced that it is inhumane, others maintain that it is a person’s decision to end their own life. I agree that physician-assisted suicide should be legal in every state because in most cases, people that are terminally ill should haveRead MorePhysician Assisted Suicide Should Be Legal1494 Words   |  6 PagesPhysician Assisted Suicide A tough issue on the rise in the United States is whether or not Physician Assisted Suicide (PAS) should be legal. Physician Assisted Suicide allows a physician to prescribe a lethal dose of medication to a patient to end their life. However, the patient has to take the drugs on their own. PAS would be only offered to those suffering from a terminal illness with less than six months to live. The way these patients go about treating and or living with a terminal illnessRead MorePhysician Assisted Suicide Should Not Be Legal2017 Words   |  9 PagesEnglish 100 Melody Kowach Say No to Physician Assisted Suicide Has anyone ever heard of the term Assisted suicide? The term assisted suicide â€Å" is suicide committed with the aid of another person, who is usually a physician. It usually is called physician assisted suicide because a doctor is providing information on committing suicide with lethal doses of drugs (Assisted). There are many people with a terminal illness considering assisted suicide. Assisted Suicide is legal in five states which is OregonRead MorePhysician Assisted Suicide Should Be Legal1223 Words   |  5 Pagespractice of physician assisted suicide. This would allow terminally ill patients, many of whom have cancer, to make the difficult decision to end their lives peacefully. Doctors are able to simply write their patient a prescription, designed to end a person’s life in a non-painful way. Doctors and medical personnel have struggled with this topic, exploring the various consequences and benefits that come with making assisted suicide legal. Currently, physicia n assisted suicide has been made legal acrossRead MoreShould Physician Assisted Suicide Be Legal? Essay1745 Words   |  7 PagesShould Physician Assisted Suicide Be Legal? Every day in the United States 1,500 people are diagnosed with a terminal illness. These people are given few options when determining if the wish to try treatment and if treatment does not work, how to deal with the end of their lives. (author unknown, â€Å"Cancer†) With this horrible future ahead of them many may wish to make amends before it’s too late, however, an increasing number of people are seeking an alternate solution. In states such as Oregon, Washington

Gold Standard free essay sample

The ever-decreasing power of the dollar has made many an advocate of the gold standard and in-fact many want to return to the gold standard as a monetary system. Over the past 2 years alone the purchasing power of the dollar has decreased 30%. In the exact same time frame, the price of gold has increased by over 100%. Throughout this paper I will try to prove why the use of the gold standard in modern day society would not be better than paper money thru various analysis and logic. Definition of the Gold Standard What exactly is the gold standard? The gold standard is a monetary standard under which the basic unit of currency is defined by a stated quantity of gold. Typically this standard was used in the 1800’s into the early 1900’s as a means of currency. This currency today no longer exists; our current currency is called the fiat system, which is merely paper money that is printed in to existence. Introduction Using the gold standard in today’s society would be ludicrous; totally changing the way governing bodies would be able to conduct business. The gold standard is not a good monetary system for this day and age, though proven to be more stable in someway it lacks the ability to be readily available as the paper money is, in addition to acting as a line of credit to the government when needed. In order for the gold standard to exist, gold would need to become a fixed price commodity or asset. All debt that the government has would need to be paid off and the paper money would have to become inconsistent. The return to the gold standard would inherently deplete the worlds gold reserve because the amount of paper money in circulation in comparison to that of gold is not evenly yoked. Not to mention the increasingly numerous proponents of a gold standard persuasively argue that budget deficits and large federal borrowings would be difficult to finance under such a standard. Again, heavy claims against paper dollars cause few technical problems, for the Treasury can legally borrow as many dollars as Congress authorizes. † (1) â€Å"With unlimited dollar conversion into gold, the ability to issue dollar claims would be severely limited. Obviously if you cannot finance federal deficits, you cannot create them. However, the restrictions of gold convertibility would profoundly alter the politics of fiscal policy that have prevailed for over half a century. † (1) â€Å"In years past a desire to return to a monetary system based on gold was perceived as nostalgia for an era when times were simpler, problems less complex and the world not threatened with nuclear annihilation. But after a decade of destabilizing inflation and economic stagnation, the restoration of a gold standard has become an issue that is clearly rising on the economic policy agenda. † (1) The Constitution of the United States explains that the gold and silver standard was to be the only currency per the constitution. Figure 1 is the exact verbiage found in the Constitution of the United States, which at no point prohibits the printing of un-backed paper money. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility. Figure1: Article I, Section 10, Clause 1 Historical Gold Overview From 1833 – 1890 the price of gold was approximately $20. 65 per ounce of gold. This price only fluctuated roughly $0. 01 in these 57 years. From 1891 to 1930 the price of gold was approximately $21. 32 per ounce. With this being said from 1833 to 1930 the price of gold ranged from $20. 58 $21. 32 per ounce. During the great depression (1931) the U. S. economy took a turn for the worst, the price of gold struck an all time low; with the price of gold being a dismal $17. 06 per ounce, which essentially means the value of the gold decreased. Similarly, the way the U. S. dollar has decreased in value today the gold standard did they same thing during the Great Depression, when the economy was not doing well. Figure 2. Inflation Adjusted Gold Price If you look at figure 2, it shows the inflation of gold prices from 1914 thru 2007. In comparison if you look at figure 3, you will notice very similar trends. Since approximately 2001 the price of gold has began to increase at which time the dollar also started to decrease. This fluctuation is a direct result of the economy’s instability. If you look at figure 2, you can witness how around the 1980’s the price of gold hit an all time high with a rapid declination on the lat 1980’s on in to the early1990’s. Figure 2, 3, and 4 all show graphically how thru inflation the dollar lost its value, the price of gold rapidly increased, and how the price of gold matches up to the US dollar. Figure 3. U. S. Dollar vs. Gold Due to inflation, the price of gold and the US dollar, appear to be growing in two different directions. This growth equates to inflation. Figure 4 shows percentage of how much the US dollar is inflated. Figure 4. Cumulative Inflation Chart (1913 – 2007) Fiat System In a fiat system, there is no non-monetary demand for the money at all; it typically consists of pieces of printed-paper, and the supply is determined by a printing press controlled by whoever issues it. (Its value is maintained entirely by its monetary demand. ) This seems paradoxical, since the existence of a monetary demand for it is dependent on its having value. In practice, the problem has usually been solved by gradually creating a fiat system out of an existing fractional reserve system, eventually eliminating entirely the banks obligation to pay in the commodity. It could also be created out of a commodity system by gradually increasing the senior age at a time when monetary demand is increasing, and allowing the monetary demand to raise the price of the coin to a large multiple of the value of the commodity it contains. Once created, fiat systems have proved astonishingly stable; the convenience of using the same money as everyone else is apparently so great that people continue using a fiat money (instead of making their transactions in terms of some convenient commodity, such as gold) even when it is rapidly losing value. 2) In terms of producing stable and predictable prices, a fiat system is at the same time the best and the worst alternative. It is the best alternative because it is possible, by following some simple monetary rule (such as keep the amount of money in circulation constant), to make the supply of money perfectly predictable, or by following some slightly more complicated rule (print money when the price index goes below 1 , burn it when the price index goes above 1) to make (average) prices almost perfectly predictable, automatically accommodating the supply of money to the demand. It is the worst of systems because it is possible to expand the money supply virtually without limit (the cost being the cost of adding additional zeros to the newly printed bills to convert tens into hundreds, or hundreds into millions). (2) Presently in the United States we use the Fait System or â€Å"paper† money. This system has been in use formally since President Nixon and has been stable prior to the last few years. Only recently has this become a topic of controversy, whether to revert back to the Gold Standard or continue to operate using the fait system. Analysis of International Monetary Reserves in Current Monetary Cycle Figure 5 shows why examination of the phases in the development of the World Monetary system since Bretton Woods in 1944 in terms of International Monetary Reserves may be a guide to the future. (3) Figure 5. International Monetary Reserves (Gold at Market) Billion of SDRs In Phase One, total International Monetary Reserves (IMRs) grew at an average of 2. 8 per cent from 1952 to 1969. This first phase was therefore one of monetary stability via a US Dollar/Gold exchange standard where the World Monetary Base grew more or less in line with the World economy at approximately 3 per cent annually. Phase Two followed from 1969 to 1980 when World IMRs grew on average at 23 per cent annually. It was impossible for the World economy to grow as quickly, so this was a phase of acute monetary and price inflation. To accommodate such a development, the Bretton Woods Agreement was abandoned in 1971 in favor of the Smithsonian Agreement in which the US government ended its commitment to maintain the price of its Currency relative to Gold and all Currencies were obliged to float, thus terminating the official commitment to fixed exchange rates. This destructive phase was replaced by Phase Three in 1981 with a US led Central Bank commitment to â€Å"quantitative† stability in terms of the World Central Bank Monetary Base but no â€Å"qualitative† guarantee of stability through linkage to Gold at a fixed exchange rate. Since then and until recently, IMR’s have grown by an average of only 6 per cent, the period characterized by broad stability but subject to occasional interruptions. Much of this period experienced a phase of general monetary disinflation, although there have been periods of misaligned exchange rates between the US Dollar and the Japanese Yen in particular. In the absence of a stabilizing Gold Standard the danger of Phase Four has come upon us monetary instability. This could be either inflationary or deflationary, depending on the nature of social, political and economic pressures at the time. Given the cumulative rise already observed in World Debt in relation to World IMRs, presently â€Å"instability† has taken the form of monetary inflation as Debt burdens bear down on the World economy and take their toll. (3) Overall the system proved to be more of an inflation hazard than help. Without the gold standard US used inflation as a tool to mitigate the risks the economy was taking and to reduce the amount of debt the country was in. As you can see from figure 4 above, this was a predictable event that one economist saw in the making. It is no surprise to those who follow the price of gold and from my research it will not be the last time the price of gold escalates and the power of the dollar descends. Historically, after the dollar begins to regain its strength the price of gold begins to decrease, though this is not an instantaneous event. Why not the Gold Standard The gold standard would not be impossible to reinvent however it would pose a variety of limitations on the way the entire world lives and functions. The overall growth of money would have to be limited and the credit would have to become backed by some form of payment other than good faith. The giant uproar of the gold standard reared its head when confidence in paper money began to decline, which lead to the high cost of gold. 1980’s saw similar trends. Gold reached a phenomenal $850 only to decline in 1999 to $252. Gold may be susceptible to adverse economic, political or regulatory development. The price of gold is subject to substantial price fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. † (7) If you look at figure 4 it shows exactly how much inflation the US dollar is presently operating in, 2071. 23%. This high inflation further prevents the US from being able to revert to back to the Gold Standard in addition to other factors. Figure 3 also clearly identifies how money now is not the same as it was 1980’s. When looking at figure 3, the red line clearly shows how in 1980 using the price of the dollar from 2007 the price of gold would have bee $2145 per ounce. While using the US dollar from the 1980’s during the 1980’s the price of gold was $850 per ounce, which is a difference of $1295. This is an astronomical figure, which indicates that in order to in order to revert back to the gold standard deflation of the dollar would have o occur, the circulation of paper currency would need to be limited and the United States would have to make a huge effort to regain the paper money that is in circulation overseas by more than half. Pro’s and Con’s of the Gold Standard Pro: Money becomes a commodity Fixed price of currency Limiting the government’s ability to increase the money supply could possibly prevent inflation Con: Credit will be limited for the US Treasury Cost of p roducing gold will become astronomical due to supply and demand Gold will not be able to be produced quickly enough Gold mining would become overly expensive Unstable prices due to vulnerable economies Government may have to maintain significant reserves of gold in order to provide liquidity for banking Summary In conclusion there is no viable way in our current economic state that we could revert back to the gold standard. Presently in this day and age we function as buy now pay later world. In essence the gold standard would force us to live more within our means as a society and would force the government to use less I-O-U’s as methods of payment. When there is mention of the gold standard and how much better the USA would be in addition to how much better the gold standard is over the fait currency is all speculation. In the lat 1800 – early 1930’s the gold only fluctuated approximately $74 and the gold standard was the method of payment. Speculators believe that in our current day and age the gold standard would not have fluctuated nearly as much as the price of gold has, which is totally erroneous. Due to so much economic trauma and the precious metal that gold is, it seems absurd to believe the price of gold would remain consistent. However fact remains that the gold standard is though of as more stable because a commodity backs it where paper money is just that, paper. Ultimately it is not the price of gold that has risen; it is the purchasing power of the dollar that has decreased. It is my belief that the Federal Reserve has made it appear as if gold is the determining factor for the price of the US dollar, when it is not; ultimately the price of the US dollar affects the price of gold. At the days end it would be better if an asset, such as gold or silver, backed paper money- however it is nearly impossible. As of 2005, over 760 billion USD were in circulation. Of this 760 billion USD in circulation, half to two-thirds are outside of the United States. By the definition of the constitutional dollar, one ounce of silver equals a silver dollar coin. Given this definition there is no feasible way that the United States can afford to back our monetary system in such a way with out depleting our reserve and the would of its natural resource.