serve as a tax on domestic consumers. Moreover, they are very often a regressive form of taxation, hurting the poorest consumers far more than the better off. Protectionism is frequently criticized by mainstream economists as harming the people it is meant to help. Most mainstream economist instead support free trade. Economic theory, under the principle of comparative advantage, shows that the gains from free trade outweigh any losses as free trade creates more jobs than it destroys because it allows
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Asia's third-largest economy likely picked up pace during the July-September period but don't cheer just yet, economists warn. India's real gross domestic product (GDP) is expected to expand 7.3 percent on year, up from 7 percent in the April-June quarter, on the back of improved consumption and rising industrial production, according to widespread estimates from private sector economists. Discretionary consumer spending has been holding up better, reflected by a 9.5 percent annual rise in September
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factories at a massive competitive disadvantage (China Currency Overview, 2010). There are two economists’ viewpoints when it comes to the undervaluation or overvaluation of the RMB against the USD and against other world currencies. There are economists that argue that the RMB is overvalued against some world currencies beside the Euro and the USD (Yuan is Overvalued, not Undervalued: report, 2010). Other economists argue that the RMB is undervalued against the USD, and this would be the major focus of
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economy is in turmoil. The credit crunch in 2008 caused chaos throughout the global and European economic systems and highlighted the negligence of not only governments but also the financial systems in place. In the highly praised publication the Economist the author G. Tett writes “The European economy is in the midst of the deepest recession since the 1930s, with real GDP projected to shrink by some 4% in 2009, the sharpest contraction in the history of the European Union. Although signs of improvement
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[pic]Skip to search. • [pic]Hi, Deirdre o You are signed in as: deirdred3 o Profile o Account Info o Sign Out • Help Get new Yahoo! Mail apps • Notifications Help • Mail1 • My Y! • Yahoo! Yahoo! Finance Top of Form |Search [pic] |Search Web | [pic] Bottom of Form Breaking News Visit Yahoo! News for the latest. ×Close this window • HOME • INVESTING o Market Overview
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international groups, like the Organization for Economic Cooperation and Development. The G.D.P., according to arguments I heard from economists as far afield as Italy, France and Canada, has not only failed to capture the well-being of a 21st-century society but has also skewed global political objectives toward the single-minded pursuit of economic growth. “The economists messed everything up,” Alex Michalos, a former chancellor at the University of Northern British
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According to the book of "Economics in One Lesson" by Henry Hazlitt, this book is an analysis of economic fallacies which are quite prevalent. The first part of this book argues that the art of economics consists in looking the short and long term effects of any policy for the whole groups (Hazlitt, 2008). Some public policies published by government address the problem and benefit the community in the long run, while other policies only benefit one or some groups at the cost of other groups and
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Bill Clinton - Redefines Democratic-Republican In the early 1800's, the United States was but a promising seedling in search of viable political direction. The initial parties were known as the federalists and the Democratic-Republicans, the first of which soon diminished and the later eventually bisected. The result is the two party Democrat and GOP system which the majority of politicians of current day subscribe. However, many political and economic analysts find themselves perplexed by
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read on. I have always believed that the social sciences needed to blend their ideas and theories with economists and political scientists, sociology, and historians, as their basic forces are related to one another. From Academia to our government, this fragmentary approach needs to change as all need to combine all forces from each field to develop wider viewpoints. For instance, ‘Economists generally fail to recognize that the economy is generally one aspect of the whole ecological and social
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A house with many mansions The text “A house with many mansions” is written February 3rd 2007, and are from The Economist print edition. The journalist aren’t mentioned. The text is an article. The text is objective, but also a little bit subjective. The article seems reliable; because it comes from The Economist and that it is a reliable website, and a very serious one. The British politician Joy Renkins, are mentioned in the article, with his point of view. Also a quote from David Willetts
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