...AMERICAN BUSINESS CYCLES: AN ESSAY IN ECONOMIC HISTORIOGRAPHY Peter Temin* This paper surveys American business cycles over the past century. Its task is to identify the causes of these cycles; other papers in this collection address the nature of policy responses to these causes. This paper can be seen as a test to discriminate between two views of the American economy. The first is expressed in a characteristically vivid statement by Dornbusch, who proclaimed recently: “None of the U.S. expansions of the past 40 years died in bed of old age; every one was murdered by the Federal Reserve” (Dornbusch 1997). This stark view can be contrasted with its opposite in the recent literature: “[N]one of the popular candidates for observable shocks robustly accounts for the bulk of business-cycle fluctuations in output” (Cochrane 1994, p. 358). I expand the time period to consider the past century, but it is easy to distinguish the past 40 years, that is, the period since World War II. A survey of business cycle causes over an entire century runs into several problems, of which three seem noteworthy. First, it is not at all clear what “cause” means in this context. Second, the Great Depression was such a large cycle that it cannot be seen as just another data point. Third, the survey relies on the existing literature on business cycles, which is why I have entitled it an essay in economic historiography. The paper proceeds by discussing each of these problems in turn, then turning to the data...
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...University-MBA 510-D532 Economics Ray Bell, Ph.D., Instructor 05/26/2012 WEEK 04- WRITTEN ASSIGNMENT Abstract The economic collapse of 1929, also known as the Great Depression, was the worst economic disaster in the entire history of the U.S. It put millions of people out of work, and made people homeless and hungry. Food and job lines were nearly endless in the cities. The Great Depression was a horrible time for most of Americans. Many people lost their jobs and a lot of businesses closed. This job loss forced many Americans to becoming migrant workers. Based upon research, this paper will explore the root causes that led to the Great Depression and how the late 1920’s leading up to the Great Depression are in contrast to our current economic system. In addition, this paper will examine how the Keynesian economic theory was used to fight the Depression and its effectiveness. Finally, this paper will examine the current U.S. economy to determine if this country could be headed for another Depression in the near future. WEEK 04- WRITTEN ASSIGNMENT Introduction The Great Depression was an economic slump in North America, Europe, and other industrialized areas of the world that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world. Though the U.S. economy had gone into depression six months earlier, the Great Depression may be said to have begun with a catastrophic collapse of...
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...National and International Approaches in Social Reporting Author(s): Franz Rothenbacher Reviewed work(s): Source: Social Indicators Research, Vol. 29, No. 1 (May, 1993), pp. 1-62 Published by: Springer Stable URL: http://www.jstor.org/stable/27522680 . Accessed: 25/11/2011 03:27 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. Springer is collaborating with JSTOR to digitize, preserve and extend access to Social Indicators Research. http://www.jstor.org FRANZ ROTHENBACHER NATIONAL AND INTERNATIONAL APPROACHES IN SOCIAL REPORTING* (Accepted 27 October, 1992) ABSTRACT. National and international in social in western approaches reporting are described. starts with The the outline of current in activities paper Europe are discussed. international The national Further organizations. competing approaches and products of social reporting; the plurality of actors in social topics are the sources and different The only diffusion of ways of its institutionalization. reporting, incomplete inWestern social are offered...
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...WP/13/266 Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten Carmen M. Reinhart and Kenneth S. Rogoff WP/13/266 © 2013 International Monetary Fund IMF Working Paper Research Department Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten1 Prepared by Carmen M. Reinhart and Kenneth S. Rogoff Authorized for distribution by Stijn Claessens December 2013 This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. Abstract Even after one of the most severe multi-year crises on record in the advanced economies, the received wisdom in policy circles clings to the notion that high-income countries are completely different from their emerging market counterparts. The current phase of the official policy approach is predicated on the assumption that debt sustainability can be achieved through a mix of austerity, forbearance and growth. The claim is that advanced countries do not need to resort to the standard toolkit of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms of financial repression. As we document, this claim is at odds with the historical track record of...
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...online in Wiley InterScience (www.interscience.wiley.com). DOI: 10.1002/smj.448 RESEARCH NOTES AND COMMENTARIES CLUSTERS, NETWORKS, AND FIRM INNOVATIVENESS GEOFFREY G. BELL* Labovitz School of Business and Economics, University of Minnesota Duluth Campus, Duluth, Minnesota, U.S.A This paper extends current knowledge of industry clusters by disentangling the effects of networks from cluster (i.e., distinctly geographic) mechanisms on firm performance as well as by studying the influence of these different mechanisms on firms located inside and outside the industry cluster. It also highlights the importance of simultaneously modeling multiple networks which may differentially influence important firm outcomes. In the paper, I model the innovativeness of Canadian mutual fund companies as a function of their geographic location—inside or outside the industry cluster of Toronto—and of their centrality in networks of managerial and institutional ties. I find that locating in the industry cluster as well as centrality in the managerial tie network enhances firm innovation, while centrality in the institutional tie network does not. Copyright 2005 John Wiley & Sons, Ltd. INTRODUCTION Industry clusters—groups of geographically proximate firms in the same industry—are a striking feature of the geography of economic activity (Krugman, 1991) examined by industrial geographers at least since Marshall (1920). Strategy scholars are now beginning to study how clusters influence firm performance...
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...|[pic] | |[pic] |[pic] |[pic] | |[pic] |[pic] |[pic] |[pic] | |[pic] |[pic] |[pic] |[pic] | |[pic] |[pic] |[pic] | Sanitary pads plays a major role in a woman's life. A lady's intimate friend. The quality of sanitary pads can influence ladies' emotions during period. That is why choosing a suitable sanitary pad is very important. According to research, when blood on used sanitary pads is exposed to the air, approximately 100,000 bacteria will grow on it in a mere 4 minute. This has been a major factor of various female sicknesses such as itchiness, sensitive skin, inflammation, lower back pain, fatique, emotionally unstable and others. Kotex is a brand that plays an undeniably significant role in the female population. With almost 60 years of experience in Malaysia, Kotex is constantly striving to develop innovative campaigns and products to help women to stay fresh and healthy. End of 2010, Kotex launched the world's first and only pad that combines superior technology with stunning design, excitingly named as the KOTEX Luxe* Ultrathin Design Pads. Kotex is a brand of feminine...
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...Kyle Wright CJA/334 August 13, 2012 Nelly Clotter Conducting Research Police Officers The year was 1870; the idea of collecting crime statistics is discussed between the US Congress and local police executives throughout the year (Investigation, 2006). Their ideas, thoughts, and hurdles overcame them with doubts of funding suck a program. With the overwhelming issues of creating such a program the US Congress and police executives were forced to shut the program down until additional funds and counsel were found. In the early 1920s the ideas of an association gained momentum. “The International Association of Chiefs and Police (IACP) took lead, as it had in many police reforms in the early 20th century” (Investigation, 2006). During this time an advisory group was formed which was head by Director J. Edger Hoover and his technical group to form a criminal statistics program. It was the late 1920s when the gaining momentum of notorious villains like Al Capone, Lester Gillis – AKA “Baby Face” Nelson, Bonnie and Clyde, and John Dillinger that the congressional leaders create such a program to track criminal activities. Using a nationwide barometer to measure crime and track its trends the congressional leaders created its first reports (Investigation, 2006). In August 1930, Volume one, Number one of the Uniform Crime Reports “UCR” were issued by the Bureau of Investigation, the United States Department of Justice (Investigation, 2006). Many crimes tracked by UCR like murder, robbery...
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...Aimée L. Arcoraci-Davies Professor Maria Evangelatou HAVC 155 Research Paper 4 June 2013 Cleopatra in Cosmetics: Iconography and the Journey to Attaining Flawless Beauty How has Cleopatra been used as an apparatus manipulated through capitalist- consumerism under the guise of attaining ultimate beauty? How has the exoticization and romanticism of beauty products, such as Palmolive soap, result in the products becoming more appealing to female consumers? This essay examines the problematic ideology of Cleopatra as the beautiful queen with the “flawless” complexion used in beauty advertisements of the 1920s addressed towards the post-World War I “modern woman” as a source of sociopolitical embodied power to entice men. This essay also explores concepts of femininity, modernity, and ideals of female beauty that have been constructed through a historically patriarchal framework which involves emphasizing the ‘seductive power’ of women, and revolves around the obsession for preserving a youthful girlish beauty and perpetuating women’s place in the home as the ‘pretty little wife’, in juxtaposition with George Bernard Shaw’s ‘pretty little queen’ caricature of Cleopatra. By invalidating or distorting her power, these expectations and gender based stereotypes impact society today in the same ways by advertising flawless skin with no visible pores or wrinkles as one of the many unrealistic sociocultural standards for females. For thousands of years, Cleopatra has been used as a...
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...employees. In addition to governments, Mattesini and Quintieri (2006) also consider it as an effective way to lessen the unemployment rate after their study on Italy during the great depression. However, the research of them may be limited. Thus this paper serves to argue that it is unwise for the Hong Kong government to establish the standard working hour system in Hong Kong because of the possible negative influence it may bring, for example, the negative effect on the economy, the increase in production cost, and the ineffectiveness to reduce the unemployment rate. The defects of the standard working hour system Increasing the production cost If standard working hour system is established, thus extra working time beyond the standard working hour is required to produce the same products. These hours could be accomplished by either inflicting overtime work on present workers or hiring additional workers. Either of the two alternatives would create odditional cost for employers. In another aspect, it seems that employers would prefer the former pattern to finish the work. A survey by Marchand, Rault and Turpin (1983) showed that after the implementation of a law to cut weekly working hours in France in 1982, the percentage of workers whose salary did not change was over 90%. The paper of Raposo and Ours (2010) about Portugal obtained a similar conclusion that monthly earnings remained almost...
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...Case Studies in Entrepreneurship 3M 3M has been known for decades as an entrepreneurial company that pursues growth through innovation. It generates a quarter of its annual revenues from products less than five years old. 3M started life as the Minnesota Mining and Manufacturing Company back in 1902. Its most successful product - flexible sandpaper - still forms an important part of its product line but this now comprises of over 60000 products that range from adhesive tapes to office supplies, medical supplies and equipment to traffic and safety signs, magnetic tapes and CDs to electrical equipment. Originally innovation was encouraged informally by the founders, but over more than a century some of these rules have been formalised. But most important of all there has built up a culture which encourages innovation. And because this culture has built up a history of success, it perpetuates itself. 3M started life selling a somewhat inferior quality of sandpaper. The only way they could do this was by getting close to the customer - demonstrating it to the workmen that used it and persuading them to specify the product - an early form of relationship selling. This was the first strategic thrust of the fledgling business - get close to the customer and understand their needs. However, the company was desperate to move away from selling a commodity product and competing primarily on price and its closeness to the customer led it to discover market opportunities that it had the...
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...PAPER 28 THE HISTORY OF THE INDIAN SUBCONTINENT FROM THE LATE EIGHTEENTH CENTURY TO THE PRESENT DAY READING LIST: 2012-13 C. A. Bayly cab1002@cam.ac.uk 1 The History of The Indian Subcontinent From The Late Eighteenth Century To The Present Day A fifth of the world's population lives in the Indian subcontinent. While today the region’s place in the global world order is widely recognised, this is in fact only the most recent chapter in a longer history. This paper offers an understanding of the part played by the Indian subcontinent role and its people in the making of the modern world. From the decline of the great empire of the Mughals and the rise of British hegemony, to the rise of nationalism, the coming of independence and partition, the consolidation of new nation states despite regional wars and conflicts, and the emergence of India as the largest democracy in the world, this paper is a comprehensive and analytical survey of the subcontinent's modern history. The dynamic and complex relationships between changing forms of political power and religious identities, economic transformations, and social and cultural change are studied in the period from 1757 to 2007. In normal circumstances students will be given 6 supervisions in groups of 1 or 2. Key themes and brief overview: The paper begins by examining the rise of British power in the context of economic developments indigenous to southern Asia; it analyses the role played by Indian polities and social groups...
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...science but took decades to surface. This intricate story is described in the award-winning book, “The Immortal of Henrietta Lacks”. Published just three years ago, Rebecca Skloot tells the story of Henrietta Lacks, an African-American woman, who became the source of the first line of immortal cells. Henrietta was born Loretta Pleasant in Roanoke, Virginia in 1920. Henrietta lived a typical life for a poor African American of that time - growing up on her family's tobacco farm until her mother’s death. By 1950, Henrietta had married her first cousin, David “Day” Lacks, birthed five children, and relocated to the Baltimore, Maryland area. In January of 1951, Henrietta went to the “colored” ward of Johns Hopkins Hospital complaining of a “knot” in her lower abdomen. It was found that the knot feeling was due a dangerous and growing tumor in her cervix. After a formal diagnosis of cervical cancer, samples of Henrietta’s cervix were removed unbeknownst to her. The biopsy samples were given to Dr. George Gey, a tissue culture specialist. He was working on creating an immortal cell line to be used for human medical research. He discovered that Henrietta’s cells, later known as “HeLa” cells, were very unique because they grew exponentially faster than standard cell lines and never died. Henrietta Lacks died at the early age of thirty-one due to the her metastasized cancer. Interestingly, her death was just the beginning of her legacy. Knowing the true value and potential of the...
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...Characteristic 7 Application 7 TCA #7 7 Characteristic 7 Application 7 TCA #8 8 Characteristic 8 Application 8 TCA #9 8 Characteristic 8 Application 8 TCA #10 8 Characteristic 8 Application 8 Conclusion 9 References 10 Management Theory/Model/Strategy Taxonomy Trained scholars may manifest thought into the outside world by manner of classifying ideas into ideology. Classification of categories, known as taxonomy, may help individuals, organizations, and countries to achieve objectives by maximizing productivity (Williams & Knicki, 2009). In like fashion, Martín-Peña and Díaz-Garrido (2008) established that theories, models, and strategies increased organizational value when implemented efficiently. The purpose of this research will explore the tenets of taxonomy protocol exhibited in three categories: (1) Theory, model, or strategy, (2) Characteristic, and (3) Application. Even though creating taxonomies requires an investment of time, categorizing topics into a logical format inspires individual assertiveness and organizational efficiency within a structured environment (Martín-Peña & Díaz-Garrido, 2008). Theory/Characteristic/Application (TCA) Classification of very complex subject matter, such as theories, models, and strategies may improve comprehension and policy. Theory is a means of assumption that creates innovation (O’Rourke, 2010). A model is a simple design that employs a methodological structure to a thought, paradigm, or...
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...Cyber Crime Research Presentation by the Australian Institute of Criminology Dr Russell G Smith Principal Criminologist The Australian Institute of Criminology • Australia's national research and knowledge centre on crime and justice • Core funding from the Australian Government, with income for contract research from public and private sectors • Criminology Research Advisory Council representing all jurisdictions • Staff of 30 academic researchers and 25 support staff – total 55 Cyber crime research Research questions • • • • • • • • • • How are cyber crimes committed (e.g. credit cards, internet)? How many crimes are committed and what are the crime trends? Who commits them and why do people commit them? How much money is at stake, lost and recovered? How can such crime be reduced – by prevention or punishment? Online and desk-based reviews of books, reports and articles Legislative and case-law analysis, including sentencing research Consultations with business, government and the community Surveys of households, businesses, offenders and victims Analysis of media reporting of crime Research methods Dissemination of findings • Reports, books, articles, conference papers, roundtables, online, media Cyber crime concepts Organised Crime e.g. OMCGs Identity Crime Cyber Crime e.g. off-line crimes e.g. ID theft Internet Crime e.g. Offensive Content Phishing Financial Crime e.g. Home renovation scams A chronology of cyber crime Cloud...
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...1 Organized Crime Group: The Gambino Family Melissa Castle CJA/384 June 11, 2012 Bryan Kaminski Introduction The organized crime group Learning Team A chose to conduct research on was The Gambino Family. Their entire organization was based in New York City. This paper will reflect the Gambino's national and multinational structure and operating methods pertaining to the drug business. Also a comparison of the Gambino's from their past to present role in prohibition, drug syndicates, political corruption, and other illicit activities will be examined. Over time, the Gambino family had various business interests that made them even more notable in the Italian Mafia history. National and multinational structure and operating methods, pertaining to the drug business. The Gambino family’s drug business structure and operating methods stem from very strong ties in the Sicilian Drug trade (Critchley, 2008). Until 1914, there were no real laws or boundaries against the drug industry in the United States of America (Critchley, 2008). The Boylan anti-drug Law, passed by the New York state legislature on March 28, 1914, was the first regulatory limitations seen against drugs. This law was not truly enforced until the 1920s, with legitimate businesses continuing to serve recreational drugs to addicts. This drug law was instituted because of the overwhelming numbers of innocent drug slaves, according to Charles B. Towns, the attorney who...
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