The Success of US Economy in 2004-2007 Essay Example for Free

The Success of US Economy in 2004-2007 Essay Economics and professionals economists have felt the heed of a series of books economic subjects which is not filled by usual textbooks or by the highly technical treatise.   This present series are published under the general title ‘The Economics handbook series with the interest of informing any reader in general. They are short volumes that give essentials of the subject matter within the hundreds of few pages within a short span of period. The American Economy has undergone a considerable remodeling during the recent past. First the most important issue is the single factor, which is the new factor that has never been experienced in the History of America. America has never had a major depression far nearly two decades. WE have had virtually full employment and booming prospect. Although past experience has been quite different throughout out history every eight or nine years we have experience serious depression and widespread unemployment. Indeed over a century our economy was the most violently fluctuating economy in the world. The recent election history, particularly 2000 presidential contest and 2002 congressional elections, suggests a decisive victory for the incumbent republican president.   Since then the American economy had enjoyed unprecedented economic growth. The budget was balance and with the cold war over and America as the only hegemony left standing, the world was mere peaceful than ever (Acemoglu, 2004) Operating under pressure the American Economy had performed a miracle. The output response to adequate aggregate demand has surprised everyone, and what is many still more surprising, it has not led to any such destructive inflation as was feared. Clearly we are not out of words in this matter, but the experience of recent years is reassuring. One thing is certain; our economy is equipped with three powerful safeguards against peace time inflation: 1. Our prodigious capacity to increase production when under pressure. 2. Our capacity both corporate and individual, to save at high income levels; 3. Our demonstrated capacity at responsible fiscal and monetary management. However the problem of wages and collective bargaining still remain. There can be no doubt that this requires statesman like action. In all events it is therefore fair to say that experience thus far indicates that the alarmists may well have beaten the drums a little too loudly and it will be happy to note recently a little softer note in the discussion of this very important problem. A high degree of stability in the value of money must be an important consideration of public policy. Yet there is in considerable danger of making a fetish of rigid price stability. This fetish could easily become a serious obstacle to optimize. (Karol Panis, 2004) The record of post man central Bank history in the United States points to the conclusion that monetary policy has become only one of many instruments controlling the rate of aggregate spending. And fiscal policy has played the dominant role, with monetary policy and selective controls serving as important supporting measures. The long term interest rates still need to be coming down, especially since they climbed back recently short term rates could go down another percentage point to help. In addition the Federal Reserve should conduct some of its open market purchases in the long-term markets, and the Treasury should stop selling new bonds in the long term markets. Both measures would lighten the supply of bonds in the long maturities, give an upward push on their prices and bring down long tern interest rates. In 1960, on the Kennedy Council, the council was trying to persuade the Whitehouse, the congress and the public that the beginning of recovery is only the begging of recovery. At that point, the full employment growths push. By simply changing the direction of the economy from negative to positive does not automatically trigger an inflation problem. This will indicate that just because the economy has turned around and is going up rather than down is going up rather   than down for a month or two or a quarter or two does not mean the business cycle problem is solved. A lot of unemployment excess capacity and slack demand still persists at and after the typical cyclical turning point (Barrel, 1992) The government offers job training and job training is a pervasive aspect of the life of Americans, Wages and salaried employment is the single largest source of aggregate personal income in the United States. Every person holding a job has benefited from the training. Most job training in the United States is undertaken by private employers in their normal course of doing business, but each year, many Americans in precarious economic conditions use publicly funded job training as a path to employment. Training comes in many shapes that are not the same and in different forms. There is an important distinction between general and firm specific training. The general training provides the trainee with skills that apply to many employers in the labor market while specific training mainly offers skills that have value within a given firm or for a given employer. The government finances more of the former whole employers support more of the later since they are its principal beneficiaries. Both public and private intermediaries have played important role as service providers throughout during the publicly funded employment and training programs. The work forces investment act (WIA) has expanded the role of intermediaries participating in the workforce investment system by establishing new one stop operator roles and excluding local work force investment boards from being direct service providers, unless waivers have been removed.   Intermediaries that provide services under WIA receive funds from local boards to provide direct employment and training services to customers or facilitate work force development in the one-stop environment. In the recent past, concern about the skills of the US work force has emerged as a persistent public policy issue. The current focus on skills and their importance in the working lives of Americans is not new, rather a renewal. The Federal training policy has its roofs. In new deal public workers programs several factors are tied to the renewed public interest in skill development. Globalization, technological change and the reorganization of work have combined to produce dramatic changes in the demand for workers’ skill. Today a ‘good’ job increasing requires a strong base of analytical quantitative and verbal skills. In the United states these skills are produced for the most part by the educational system, followed in sequence by private employers. (O’Leary et al. 2004) While most work force development programs have evolved incorporating lessons learned from previous initiatives, the job corps program, designed to offer disadvantaged youth a one year residential work force development program, has continued virtually unchanged since it was established by the economic opportunity act in 1964. In the next 15 years, work in the United States will be shaped by a number of forces that includes demographic trends, advances in technology and the process of economic globalization. These key factors have already played a role in shaping the world of work in today economy. They have influence the size and composition of labor force, the features of the work place, and the composition structures provided by employers. During the last century the US economy was shifting from one based a production to one based on information. New technology had spawned new products and industries had transformed the way firms in established industries were organized and labor was employed. The phenomenon of globalization can be viewed from a number of perspectives. There is no a single agreed upon definition (world bank 2000) Economic aspects of globalization has seen the flows of goods and services, direct investment and other capital flows, the transfer of knowledge or technology and the movement of people. From this, perspective in the United States, the era of economic globalization affects the size of the markets we produce far the mix of products be consumed and the nature of the competition in the global market place. It also has implications for the labor market, the US workers compete in and the sources of domestic and international labor available to US firms and in addition to the economic dimension of globalization, it also has political social and cultural dimensions such as the balance of power across nations. (Karol Panis, 2004) The secular bent of the shah as well as his oppression and dictatorial ways alienated many Iranian groups allowing radical Islamists to overthrew the dictator and in stall a radical Islamic state in its place. The new regime held Washington acceptable for its years of support of shah, and relations between the two countries deteriorated as groups of Iranians took over American Embassy in Teharan.This is in support of explainging to exposà © the roots of present war on terrorism. (Gareau, 2004). One of the apparent puzzles in the empirical corporate governance literature is the lack of correlation between the presence of independent directors and the firm’s economic performance. Various studies have searched in vain far an economically significant effect on the overall performance of the firm. Theory would predict that firms will select the board structure that enhances the chance for survival and success; it competitive market pressure eliminates out of equilibrium patterns of corporate governance whole some predict that corporate governance in the US is already good and therefore marginal improvements in a particular corporate governance mechanism would expectedly have a small effect. The rise of independent directors in the diffusely held public form is not driven only by the need to address the managerial agency problem at any particular form but on how to govern forms so as to increase social welfare. Fundamental changes in the information environment rewarded th e ratio of the firm’s reliance on private information to its reliance information impounded in the prevailing stock market prices. In conclusion over the period between 2004 and 2004, the central planning capabilities of the large public firm became suspect. The richer public information environment changed the role of directors and special access to private information became less important. Thus the fidelity shareholder value as to the utility of stock market signals found unit in the reliance on stock price maximization as the measure of managerial success. (Gordon, 2007) The US economy slowed sharply in the fourth quarter of 2005 growing of its slowest rate since early 2003. This is because private consumption was weak largely due to a sharp drop in auto sales as buyer incentive programs ended and gasoline process surged in the aftermath of Hurricane Katrina, corporate fixed investment was subdued and net experts exerted a substantial drag and growth. Mainly indicators suggest that the weakness was concentrated on the early part of the quarter and the economy had subsequently bounced back.   Industrial production has strengthened capital goods orders are firm non fair payrolls increased and consumer confidence has rebounded from its Past Katrina slump. Consequently real GDP growth issues expected to rebound in the first quarter 7 2006 and average at 3.4 percent for the year as a whole. Strong corporate profits and comfortable financing conditions imply a positive outlook for business investment. Consumption growth, however is expected to slow in 2006 by about  ¾ percent point as a cooling housing market and elevated energy prices more than offset any acceleration in disposable incomes from employment and wage growth with corporate profits expanding robustly and balance sheets in good shape, business investments and employment growth could be stronger than expected, but overall risks to the outlook are slanted to the down side. The large current account deficit 6.4 percent of GDP in 2005 makes the United States vulnerable to a swing in investors’ sentiment that could put downward pressure on, the dickens and see a spike in long-run interest rates. However a weaker housing market could trigger a more abrupt withdrawal of consumer demand than anticipated. House prices have grown strongly in recent years providing a boost to economic activity through their effect on consumption, residential investment and employment. (World Economic Outlook, 2006)

Personal Interest Essay -- Essays Papers

Personal Interest I have been interested in the study of shy children and their inability to actively participate in a classroom environment since my youngest daughter, who is extremely shy, started kindergarten. I saw the difficulty that she faced in class because of her shyness and I became frustrated because I knew that her lack of self-confidence was affecting her ability to excel in school. Fortunately, we were able to work with her teachers and help her develop the self-confidence to eventually become an excellent student who is an active participant in her class. Because of my experience as a parent, I am very aware of the potential to overlook or mislabel shy students and have found myself extremely conscientious of these children since I began teaching. I want to find ways to help these students develop the confidence to become more active participants in my classroom. I wondered what I could do differently in my classroom to help a shy student develop self-confidence. The student who I observed for this inquiry project came to my attention the first day I visited the class I was to student teach in. While she was clearly intrigued by a book I was reading to the class, I noticed that she was the only student to not participate in the discussion which followed the reading. It became apparent the first week I was in the class that she was not an active participant and had difficulty answering questions during class discussions. Although she was quick to raise her hand, she became very distressed when called on in class. I noted that my cooperating teacher often bypassed her, calling on other students who were more outgoing. As a teacher, I want to develop tools to help my student... ...Bibliography Brody, Jere. (1996). Working with Shy or Withdrawn Students. Learn2Study. Retrieved February 1, 2005 from http://www.learn2study.org/teachers/shy.htm Crozier, W. Ray & Perkins, Pam. (Sep. 2002). Shyness as a Factor when Assessing Children [Electronic Version]. Educational Psychology in Practice, Vol. 18, Issue 3, p. 239-244. Hyson, Marion C. & Von Trieste, Karen. (1987). The Shy Child. Child Development Institute. Retrieved February 1, 2005 from http://www.childdevelopmentinfo.com/disorders/shy_child.htm Kemple, Kristen. (June 1995). Shyness and Self-esteem in Early Childhood [Electronic Version]. Journal of Humanistic Education & Development, Vol. 33, Issue 4, p. 173-183. Malouff, John. (2002). Helping Young Children Overcome Shyness. Retrieved February 3, 2005 from http://www.une.edu.au/pshychology/staff/malouff/shyness.htm

Manage Operational Plan Essay

1.List some of the details outlined in an operational plan. An operational plan, also known as an action plan, is derived from an organisation’s strategic plan. It is a more concrete, detailed document that outlines how the strategic plans of an organisation will be achieved in practice. It includes projects to be undertaken, actions, resource policies, responsibilities and timeframes. It outlines the actions teams/individuals within an organisation will take to achieve its objectives and also outlines any major projects within the relative time period. An operational plan will contain details of: †¢Organisational structure †¢Short- or medium-term business strategies †¢Major projects †¢Available resources (including human and physical resources, also financial) †¢Performance targets †¢Responsibilities for actions †¢Timeframes for projects, goals and evaluations †¢Contingency measures 2.Broad consultation with other members of the organisation, from team members to senior management, is a good way to contribute to the success of operational planning. When, in the planning cycle, should it be carried out? What outcomes would you be looking to achieve from this process? Consultation is a key element in the development of an operational plan and it is imperative in ensuring the details of the plan, the resource allocations and the timelines set are realistic, relevant and achievable. Consultation should be an ongoing process, right from the beginning and throughout the entirety of the operational plan. Consultation can be achieved in many ways, both formally, using such tools as information sessions, meetings, workshops, focus groups, one-on-one interviews, feedback mechanisms or communication mechanisms; or informally, by relying on personal relationships and informal conversations with other stakeholders. Use of these techniques should be scheduled to occur before the operational plan is put to action, but they should not stop there. As planning progresses, it is important to consult with stakeholders to seek further  input and, for those that have major contributions, to gather feedback. As plans come to fruition and projects commence, it is important to constantly seek feedback and input, in order to monitor, evaluate and refine the planning processes and the actions undertaken. The next important step of the consultation process, once feedback has been gathered, is to use the information effectively and communicate this back to the relevant stakeholders. When stakeholders see the positive flow-on effects of feedback they have offered, it makes them more likely to offer quality contributions the next time they are asked. This creates an open and flowing cycle of communication and feedback throughout the entire planning process, which leads to a highly monitored plan, formed through consultation with relevant stakeholders. This regular feedback enables the organisation and those managing the operational planning, to evaluate and refine the planning procedure. 3.Why do budgets need frequent reviews and adjustments? Who is responsible for ensuring that budgets and other financial documents are accurate? When creating financial reports, what sources of information need to be analysed? Budgets are the mechanisms through which organisations can monitor their financial health. Budgets are essentially plans for the organisation’s money and resources. They should be monitored regularly to assess the organisation’s progress against agreed targets and to flag any potential issues. Individual areas should update and report internally on a regular basis (i.e. monthly), which, in turn, would lead to reports being delivered to senior management every quarter. These reports can be used to update the budget forecast and contain information about the current state of accounts (i.e. spendings vs earnings). It is important to frequently review and adjust budgets to take into account changing circumstances, such as, project delays, project blowouts, changes to staffing levels and changes in the currency exchange rates. These adjustments are necessary to reflect actual circumstances that apply to specific projects, work units, the organisation as a whole and the broader economic and financial climate. Within an organisation, there is generally a senior management group or committee responsible for ensuring the financial statements present a full and accurate position of the organisation’s financial situation and that any  variants from budget are fully explained. When creating financial reports, depending on the level of detail the organisation requires, the following sources may need to be analysed: †¢Budgets †¢Budget forecast reports †¢Reports of actual financial performance †¢Budget principle reports †¢Revenue reports †¢Expense and output reports †¢Balance sheet reports †¢Asset and cash management reports †¢Investment/derivative reports †¢Liability reports 4.Resources can mean many things when you are preparing an operational plan. What kinds of ‘resources’ might you have to plan for? There are many resources that require planning for an operational plan. These can include: †¢Goods and services †¢Human resources (i.e. staff, consultants, contractors) †¢Physical resources (i.e. equipment, property, machinery, facilities) †¢Financial resources (i.e. budget allocations, money) †¢Stock requirements and requisitions A process of research and consultation needs to be carried out to adequately allocate resources. A detailed planning ‘diary’ can be a useful resource for helping individuals who are responsible for planning and to carry out their duties in a timely and comprehensive fashion. 5.Today, more and more businesses understand that being successful is about more than just economic performance, but that it is also about their environmental and social performance. They are aware that increasing use of the Earth’s natural resources places a strain on the planet. Responsible businesses are, therefore, making every effort to ensure that they use resources efficiently. What does the term resource efficiency refer to? Identify five things an organisation could do to reduce the amount of paper  and energy used and wasted. Resource efficiency refers to maximising the supply of money, materials, staff, and other assets that can be drawn on by a person or organization in order to function effectively, with minimum wasted effort or expense. Five ways an organisation could reduce the amount of paper and energy used and wasted could include: 1.Improving purchasing Cleaner production starts with cleaner procurement. Buying recycled materials can reduce the amount of waste sent to landfill. Give preference to products that are designed for long life, are reusable or recyclable, and are made and packaged with minimum material. 2.Improving storage Only store what you need. Good inventory management can save money. Keep all storage areas uncluttered, clean and clearly labeled. Avoid keeping empty containers, unless they have a specific use. Establish clearly signed, segregated areas for appropriate storage of all equipment, materials and wastes. 3.Conserving energy Using less costs less. If you reduce your energy consumption you can save money and reduce greenhouse gases caused by burning fossil fuels. Turn off all lights and equipment when they do not need to be operating. Use energy efficient office equipment and power saving functions where they will be most effective. Use the most efficient lights — triphosphor tubes are cheaper to run than fluorescent lights. 4.Conserving water Fix dripping taps and leaking pipes — a dripping tap wastes more than $100 a year. Install water saving accessories around your business, contact your local water authority for ideas. 5.Reducing waste Segregated waste can often be recycled and may be a valuable product for another business. The three R’s – Reduce, Reuse and Recycle. Quantify the waste you produce. Waste is the difference between the materials you pay for and the materials your customer pays for. Examine each process step to determine where wastes are produced and to devise measures for waste prevention or reduction. Many wastes occur because of process inefficiency. Devise ways of reducing your waste with your employees and suppliers so they  too can share in the savings, for example rewards for employees and suppliers who reduce waste. Reuse drums and containers where possible. Ask suppliers to exchange empties. Identify ways of reusing materials in the process at different stages.

Essay on Compare and Contrast Egypt and Mesopotamia

Egypt developed around the Nile River, while Mesopotamia developed between the Tigris and Euphrates rivers. Egypt and Mesopotamia grew into complex civilizations. Politically, both Egypt and Mesopotamia had a government with one main ruler, but Egypt had a centralized government with a pharaoh, while Mesopotamia had a decentralized government with a king. Socially, both civilizations were patriarchal, but Egypt was more lenient towards women while Mesopotamia was stricter. The political and social structures of Egypt and Mesopotamia both similarities and differences. Politically, although both Egypt and Mesopotamia had one main ruler, Egypt was centralized and whereas Mesopotamia was decentralized. Egypt centralized government led†¦show more content†¦However, in Mesopotamia, the males subjugated the women. To stop married women from tempting other men, they were forced to cover their bodies, except for their faces, with veils. Women in Mesopotamia were often arranged into marriages, without a say on the subject. The Mesopotamian women had little impact on their society, while certain Egyptian women were able to gain highly influential positions in their society. One Egyptian woman even became the Queen of Egypt, alongside her son. Due to Egypt being less strict towards the women, Egyptian women were able to have a greater influence on their society. Although both civilizations were patriarchal, they varied on how strict they were towards women. Ancient civilizations surrounding Egypt and Mesopotamia during this time period had similar political and social structures to either of the civilizations. Most societies with a centralized government did not see their rulers as divine as pharaohs. Some civilizations, like the Chinese rulers and their Mandate of Heaven, ruled with a power similar to the Egyptian pharaohs. However, the Chinese empire could also be overthrown if they were a bad ruler. The Greek city-states also constantly fought e ach to gain power over all of Greece. Socially, ancient civilizations were not as lenient towards their women. Since social inequalities developed starting around the development of agriculture, women of ancient times wereShow MoreRelatedAp History Compare and Contrast Essay: Egypt and Mesopotamia1296 Words   |  6 PagesEthan Sua 10/16/10 Mr. McGrath AP World History A Compare and Contrast Essay of Egypt and Mesopotamia Egypt and Mesopotamia developed different and similar political and religious civilizations. Mesopotamian civilizations such as the Sumerians, the Akkadian kingdom, the Assyrian empire and the Babylonian city-state, were all too dependent on the Tigris and Euphrates Rivers. Egypt’s natural isolation and material self-sufficiency fostered a unique culture thatRead MoreCompare and Contrast the Rise and Fall of Mesopotamia and Egypt1635 Words   |  6 Pages In this project I plan on exploring the contrasts and comparisons between the rise of Mesopotamia and Egypt. I chose this particular question because during my junior year I took and AP World History class in which we of course studied the worlds history. One on my favorite things that we studied in that class was ancient Empires. Mr. Herman, my AP teacher during that time, went through the Mesopotamian and Egyptian Empires rather too quickly for my tastes. I felt as though there were a lot of thingsRead MoreAp World History Compare and Contrast Essay Egypt vs. Mesopotamia632 Words   |  3 Pagesfor agricultural production. 2 of the greatest river-valley civilizations were Mesopotamia and Egypt. 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The birth of Mesopotamian Civilization began in c. 3000 B.C.E., in the valleys of the Tigris and Euphrates Rivers of Southwest Asia. Mesopotamia is a Greek word and it means ‘between the rivers.’ In contrast, the birth of Egyptian Civilization began in c. 3100 B.C.E., in a valley of the Nile River in Northeastern Africa. Egypt is a Greek word and it means ‘House of the SpiritRead MoreWhat Aspects Of Human Life Remain The Same Across All Three Groups2974 Words   |  12 PagesGilgamesh tell us about the values of early Mesopotamia society? They had little of vocabulary, stone tools, believed in god, and had boats. 2. What role did water acquisition and management play in the political development of Mesopotamia? The water helps the people to survive. People have different roles. 3. What were the underlying principles of Hammurabi s code of laws and what does the law code tell us about the kind of society that existed in Mesopotamia at the time? 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