Although having the highest levels of investment, they still had some of the lowest returns. This was because of the absence of market signals and a lack of accountability. The free market had many defects, the most important was that it couldn't send signals. If you try selling shoes and no one buys them, this is the signal that the market sends you so that you should switch to something else. This signal is not perfect but most of the time and cases it works, but, the problem with Communism is that it had put an end to the market's ability to signal.
But others note that since these individual are not highly educated, have less resources; and little money; they take advantage of our government system more than others. This causing our National deficient to rise putting our country in a financial crisis; which could have been avoided by requiring them to contribute to the expenses each of us endure. “As a result, many Americans believe that immigrants don’t share an equal burden of the expenses they incur, especially at the local level” (Wood, 2009 as cited in Jones, ASID, IIDA, IDEC, and Phyllis Sloan Allen, 2009, p. 79). But actually this is far from the truth, many immigrants such as us do pay their way through society, paying the same cost as we do as United States Citizens; such as taxes. They take on jobs that others refuse to work, receive little or no training; and given the lowest possible pay scale acceptable by law; even though America promised so much more.
This is because a country may have constant GDP growth, but this wealth is distributed between very few. In both films, the legacy of colonization and exploitation left a profound effect on the political structures of the corresponding nations. After achieving independence, this method of rule was still considered the norm by many of the country’s corrupt leaders, including the infamous Idi Amin (The Last King of Scotland). The constant state of civil unrest and squandering of the nation’s major resources caused by political competition is a major reason that development in Uganda today is not where it should be. Additionally, the widespread poverty and subsequent lack of education prevents the people of Uganda from organizing and mobilizing as they could to help bring an end to ongoing strife.
The challenge to this "game" is finding the right balance. "The winners take a large chunk out of the economic pie that common workers are left with crumbs". Blessington (2016) Lives are being dominated by financial struggles due to lack of education and by their economic status coming into this world. "Statistics from Income inequality has reached epic proportions. Increased 24% from 1968 to 2012".
He explained that it is because democratic governments are held accountable for their people during their term of office, if the government wanted to continue its rule, he must listen and respond to people’s opinions and economic needs, otherwise, people would not vote for the government in the next election. Sen from this concluded that democracy is essential for economic development. Moreover, he stressed that economic development requires political freedom and transparency, and he pointed out that there is an instrumental relationship between political freedom and fulfilment of economic needs. Sen’s claim seems to be supported by statistics. According to United Nation’s Human Development Report, the top 10 most affluent countries are all democracies including Norway, Australia and the United States.
In fact private property appears to be the cause of alienated labour but later it appears to be a consequence(1978:79). People become so alienated in capitalism for all they ultimately seek is enough capital to survive and they would work as hard as they can to achieve this. As capitalism develops, science and technology takes over the means of production and may take over the labour, yet the worker is left with continually seeking to work to survive. The problem thus is not the need to increase production, for high production is a good thing, but the problem is that through the working system of the capitalists, individuals or workers are alienated from the capacities of being people. They lose their sense of knowing their worth and self-creativity and become enslaved to their own creation but no one or “individual” can be pinpointed for doing this compulsion, they think it is a natural process(1978:306).
They are ignorant to the fact that this system hinders the socioeconomic success of most citizens, unless they are lucky enough to be considered upper class. But what is upper class? We were always told that America wasn’t like other countries in the fact that it isn’t divided into classes. That people have equal opportunities to create their own economic futures and conquer whatever obstacles they encounter. This, indeed, is false and such classes do exist.
However, the method suffers from its setbacks because in any capitalist economy, contribution to the national growth and wealth distribution is never fair. Wealth is concentrated on a few super-rich while the majority of the people are the middle class and the
(Johnston, 2015). However, countries that suffered a lot were concerned that if they do not devalue their currency it is impossible to get out of economic crisis. To address this issue, two institutions were established which were international monetary fund and the international bank for reconstruction and development. They were responsible for lending money to countries that face difficulties in reviving their economy and attracting financing g from other sources as well as supporting the growth of less developed and impoverished countries for recovering respectively. At last, the Bretton woods system did not survive because there is overvalue of the US dollar but it created a global
Kenya subscribes fully to Structural Adjustment Programs (SAP) for development. These have had a negative effect on employment patters especially in the civil service where the SAPs have called for cut-backs on government spending with employment freeze and retrenchment being key strategies. Lending rates are out of reach of many people locking them out of self-employment. The local manufacturing industry including ‘Jua Kali’ sector has also not performed due to competition from cheap imports. Unemployment has many effects on individuals.
Economics 102 Group Project (first draft) Introduction The proliferation of income inequality can be attributed to various entities and factors that include the government, firms/market power, and technology. Income inequality is also driven by lack of education and training, discrimination, individual ability, and unequal distribution of wealth. The government is primarily responsible for the well-being of the people for whom the government operates. This point is simply stated according to the Ancient Greek’s definition: “the purpose of a government is to improve the lives of its citizens” (CBSNEWS article 7/12/04). If a government cannot facilitate a proper redistribution of income to ensure the sustenance of the least fortunate of its population, that government is essentially ineffective.
Where the ones with more power and education take advantage of the uneducated and poor. Is that how we all want America to be formed? No, a country will only thrive when it is ruled by the people and of the people. Hamilton feels that industry is the best way for America’s economy to go. Yet with industry, the many do not benefit from working.
Fitzgerald in The Great Gatsby presents the world to be headed for disaster including both the social classes in different ways. The lower class having no money and denied from acceptance from society and the upper class in terms of morality and value and this disaster can be referred to as the result of the chain reaction of the race for people to gain wealth and social status. GRT72NHGF Fitzgerald presents a very harsh picture of the world in The Great Gatsby. Some characters are portrayed as lacking sentiment and value in humanity and rather concentrate more on wealth. Society is shown to be unified by wealth and this separates the different classes of people.
Besides, household savings are the only source of income for the banks. Low income leads to low saving in the banks . Due to of that, banks won 't be able to invest in the firms and industries causing them to lag more behing. Lastly, recession also affects the international trade of the nation. Fall of GDP directly leads to the decline in export wherease due to of low national income, import of goods and services also goes down.