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 thoroughly examines international policies and coherently explains to us average citizens how the world is globalizing–that the world is becoming flatter and countries are now even more dependent on each other.
The main ideas in Krugman’s book revolve around the “Keynesian Compact” or the “neoclassical consensus”. Krugman suggests five general so…

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Social studies is a huge part of the elementary curriculum. Without social studies, elementary students would have a huge gap in their knowledge content. Economics is responsible for providing a large amount of information to students. For third graders, the North Carolina Department of Public Instruction places economics under goal five. Goal five divides communities and the basic economic principles into seven objectives. The first objective for third grade economics asks for students to understand the definition of scarcity and be able to provide examples. In order to understand scarcity, students must first understand the difference between a want and a need. A want is something that you wish to possess but is not necessary for survival. Some examples of wants include a laptop, a new sofa, or a big-screen television. A need is something that you must have to live. Some examples of needs include water, shelter, and food. Scarcity deals with the fact that, as humans, we have an unlimited number of wants and needs. However, the earth’s resources are limited and that creates an …

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What does the phrase marketing mix mean? What is the purpose of the marketing mix? The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization. After a target market is selected, “…the firm must take steps to satisfy [the customers] needs” (Kerin, Hartley, & Rudelius, 2009 p. 13). The basic concept of the marketing mix is to focus on what customers want and to keep customers satisfied. Although the marketing mix is a unique way to market a product or service, satisfying the consumers’ needs and wants is every marketer’s main goal.
Aspects of the Marketing Mix
The best way to define a market is to recognize the needs and wants of consumers and then focus on meeting those needs and wants. In today’s advertising industry, marketers use the marketing mix as a tool to satisfy their target consumers. Furthermore, the marke…

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According to my research, our group found that the most important opportunities for Sony Ericsson are environmentally friendly issue, energy efficiency of charger and recycling center. As a common theory in today’s business world, competition intensifies when new firms enter into the saturated market of any industry. It indicates that corporations must develop innovative products and services to compete and survive. Following a sector-wide slowdown in fiscal year 2009, the competitions for Sony Ericsson approximately divide into two sections: the environmentally friendly competition and the financial competition. To pursue a solid growth, the derivate problem behind competition is a viable marketing strategy for Sony Ericsson. Our interview questionnaire has objective evaluations reflecting how to utilize brand as a dominant role in the markets, how to enhance consumers’ knowledge about environmentally friendly, and how to gain more market share.
Mission Statement Initiates Concerns
Recalling the mission statement of SONY, Inc., “SONY’s mission is to become a leading global provi…

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What is Sociology?
After reviewing the article titles given for this first assignment, I believe they indicate that Sociology, generally speaking, is not only a study of diversity or commonality in traits among people; it is also a science about factors in a person’s life and how these factors culminate responses. Interestingly enough, its topics of concern seem to be directly determined by current and common events of the world. Through the invention and expansion of new ideas, popular trends and fashions through time, Sociology adapts to responsibly to service the very subjects of interest it studies; for, even the slightest change of a person’s daily experience can have an insurmountable impact on attitude, personal growth, family dynamics and basic group behavior.
As case and point, “the impact of the Internet is far greater than any other communicative tool in the history of mass communications” (Elliot, 2008, para. 1). With an expansive, yet extremely convenient means to electronically join people through business, relationships, education and more, Sociology assumes the …

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Creating a good argument, this is an argument which will persuade the opposing side into accepting that the claim which was made, as well as the grounds of the claim, is different for each social science. It is usual for individuals to pull from their personal experiences, their views, morals, and interpretation of things when formulating an argument. The same goes for the various social sciences. Each social science approaches an argument in a different manner, and gives different aspects of an argument a higher regard. Sociology, Pyschology, Anthropology, and Political Science formulate their arguments keeping the importance of their discipline in mind.
When discussing an argument derived from a Sociologist point of view, we must remember that Sociology is a science which deals with human relationships, the interaction of individuals and larger social forces. It emphasizes on group relationships and total social environment. Sociology is the study of how human beings relate and interact with each other, how individual relationships are formed and what the influence of other pe…

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Sociology of Scientific Knowledge is a relatively new addition to sociology, emerging only several decades ago in the late 1970’s, and focuses on the theories and methods of science. It is seen as a notable success within the fields of sociology and sociology of science. In its infancy, SSK was primarily a British academic endeavor. These days, it is studied and practiced all over the world, with heavy influences in Germany, Scandinavia, Israel, the Netherlands, France, Australia, and North America.
David Hess tells us that in science, a black box is any device for which the input and output are specified but the internal mechanisms are not. “Sometimes the study of this content is described as ‘opening a black box’” (Whitley 1972). Advocates of SSK have criticized the Institutional Sociology of Science of leaving a black box of content unopened, and examining only the exogenous, institutional aspects of science and technology. Traditionally, studying the content of science from a sociological perspective had been very controversial.
Hess tells us that one way to characterize this s…

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“The Dancer’s gift” is a love story between a young man and woman, Marcel and Samantha. But this novel was written not only to call feelings about love and passion; the main goal was to introduce students to sociological concepts. Overall, the book includes more than 180 sociological terms that flow with the story and closely connected to happening events. Marcel, a black man, arrives from Martinique (an island in the Caribbean Sea), and Samantha, a rich American girl, meet each other in college and fall in love. Both of them face obstacles in their lives: Marcel was grown up in a poor extended but a friendly family, while Samantha was a daughter of rich but divorced parents. Marcel comes to the U.S. to become a professional dancer, while Sam decided to become an attorney at law just like her father. Being lovers they decide to spend their Christmas holidays together and go to New York. Next holidays they go to Marcel’s homeland, Martinique, where they realize that there lives a woman who is pregnant by him. At that time all dreams of Sam just collapse due to this bitter disappointm…

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I chose to examine John Braithwaite and analyze his major theory on restorative justice and to a lesser extent, peacebuilding in fractured societies. I conducted internet research on Braithwaite and his theories. I found information regarding Braithwaite’s early life and progress into sociology to be scarce. I believe this is not uncommon when dealing with living and active persons who desire privacy in their private lives. Information in regards to Braithwaite’s work, however, is more than ample. Most of the material I used related to the Australian National University. I also read selections from studies done in peacebuilding. I found a fascinating mixture of hope and responsibility…

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My research of Classical Economics and Keynesian Economics has given me the opportunity to form an opinion on this greatly debated topic in economics. After researching this topic in great lengths, I have determined the Keynesian Economics far exceeds greatness for America compared to that of Classical Economics. I will begin my paper by first addressing my understanding of both economic theories, I will then compare and contrast both theories, and end my paper with my opinions on why I believe Keynesian Economics is what is best for America.
Classical Economics is a theory that suggests by leaving the free market alone without human intervention; equilibrium will be obtained. This theory was the first school of thought for economists and one of the major theorists and founders of Classical Economics was Adam Smith. Smith stated, “By pursuing his own interest, he (man) frequently promotes that (good) of the society more effectually than when he really intends to promote it. I (Adam Smith) have never known much good done by those who affected to trade for the public good.”(Patil) Classical Economic theory assumes three basic ideas: Flexible Prices, Shay’s Law, and Savings-Investment equality. Flexible prices in Classical theory suggests prices will rise and fall as needed but is not always true, due to, the interference of government agencies including unions and laws. Smith stated in the Wealth of the Nation (1776), “Civil government, so far it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.” (Patil) Shay’s Law implies supply creates its own demand and demand is not based on production or supply.
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The last assumption is that savings will equal the investment which will lead to equilibrium; however, Classical theorist are realist and know this will not always happen, thus, they believe the flexible interest rates will help with the equilibrium.
Keynesian Economics was developed and founding by John Maynard Keynes. He believed and wrote in his book “The General Theory of Employment, Interest and Money” that it is essential for the Government to play a vital role in economic stability. Keynesian theorist believe Government spending, tax hikes or tax breaks are vital in economic success. Keynesian assumptions include: Rigid or Inflexible Prices, Effective Demand, and Savings-Investment Determinants. Rigid or Inflexible Prices suggest that wages increases are easier to take while wage decreases hits resistance; likewise, a producer will increase prices yet when needed will be reluctant to decrease prices. Effective Demand implies that only a portion of the household income will be used for consumption, leading the Keynesians theorist to believe that the effective demand can only be derived from the actual disposable income. Lastly, the Keynesian theorists believe savings and investments are based on one’s desire to save for the future and the expected profitability of the endeavor.
As stated above one can see there are great differences in Classical and Keynesian Economics. Classical Economic theorists believe the Government should have no role in the free market while Keynesians believe the Government is vital in maintaining equilibrium in the free market. Classical Economic theorists believe supply creates its own demand while Keynesians believe demand can only be derived from the actual disposable income. Another contrast between these two theories include: Classical Economic theorist believe flexible interest rates will help with the equilibrium of savings and investments, while, Keynesians believe equilibrium
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of savings and investments can only be obtained with the will of the savor and the expected profitability of the endeavor. In “Economics in Crisis: Severe and Logical Contradictions of Classical, Keynesian, and Popular Trade Models” written by Ravi Batra it is reported that Classical Economics almost died until inflation became intolerable and the Keynesian Economics made an error causing the Classical Economics to easily be brought into the economy. (p.623-624)
This research has brought new light for me in how economics/politics is played in America. Looking at recent events with the American Government, I now have a better understanding of how and why economics is so important. Hearing the word deregulation throughout the 2008 Presidential election, I never quite understood what it meant; I now am gaining a better understanding. I believed in the Keynesian theory before I even knew it existed and now I can say I feel stronger about the Keynesian Economics and I recognize the importance of this kind of economics for America. In “The Relevance of Keynes”, Robert Skidelsky states, “the classical
theory of the self-regulating market rested on the epistemological claim that market participants have perfect information about future events. Grant this and the full employment assumption follows, deny it and it collapses. Keynes’ economy, on the other hand, is one in which our knowledge of the future is usually very slight and often negligible and expectations are frequently subject to disappointment.” (p. 3) I agree with this because even in my short life I have seen many natural things change the economy such as September 11th or the Tsunami in Japan. No one can predict the future and everyone must be prepared for the worse. The websites and articles I found were intriguing in that they mainly disagreed with the Keynesian Economic theory. McCoach even went as far as to use scare tactics including a quote from Adolf Hitler,
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“Gold is not necessary. I have no interest in gold. We will build a solid state, without an ounce of gold behind it. Anyone who sells above the set prices, let him be marched off to a concentration camp. That’s the bastion of money” and later comparing Keynes and Hitler as having the same economics in the same sentence. (McCoach)
In “The Transition from the Classical to the Keynesian Perspective” written by Hukukane Nikaido, I found many different graphs which I have came to conclude is very important in an economic study. I found it hard to really understand the graphs but what I did gain from this article is that Keynesian Economics will continue because the graphs showed a great gain in Economic growth. I have further gained a greater appreciation for Keynesian theory for in this article Nikaido reports, “Keynes’s philosophy of the economic world should not be thought to be
confined to a depression economics. Moreover, it should be deeply impressed on our mind that this discordance applies in the short-run, but also in the long-run, contrariwise to the prevailing view of almost all economists. For a long-run analysis to ignore short-run aspects would be very fictional to the real economic world.” (542-543) My hope is America never has another economic catastrophe as we did in 1930’s and nearly again in 2000’s.

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