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"Freakonomics"--A Review, 2007.
A review of Steven D. Levitt and Stephen J. Dubner's off-beat work on economics and society entitled "Freakonomics."
1,208 words (approx. 4.8 pages), 1 source, MLA, AU$ 60.95
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Abstract
This book review examines the chapters in Levitt and Dubner's off-beat and irreverent work, "Freakonomics", which covers many issues in society from an economic bent. Some of the outlooks may be controversial, yet the reviewer sees them as quite valid. According to the review, Levitt and Dubner interview many people from different segments of the working world to gather information about society. The review also illustrates the authors' views on crime, and the circumstances that cause it to rise or fall. The review concludes by showing how the authors discuss thinking "sensibly" about real people in the real world. They urge skepticism with accepted wisdom, and looking underneath a layer of society to discover the truth.
From the Paper
"Levitt maintains economists love incentives and believe incentives can fix just about any problem. He lists many incentives we respond to during life, that incentives urge people to do the right thing rather than the wrong thing, and that someone has to invent incentives. He also maintains incentives must be appropriate to be effective. He also maintains that just about everyone cheats - it is just a matter of the stakes and incentives. Many people spend their time thinking of ways to beat the system, rationalizing it as "getting more for less." He discusses how this relates to education and high-stakes testing, and how it might influence teachers to cheat to gain bonuses and save their jobs. Economists identified patterns that might indicate a teacher was changing answers in a classroom, and discovered that some teachers in the Chicago Public Schools were cheating by erasing students answers and filling in the correct answers. He relates this cheating to Japanese sumo wrestlers, who he maintains also cheat. He shows why they might cheat, and offers some ways to measure data to prove they cheat, and cites information from former sumo wrestlers who said some matches were rigged. Then he discusses the honor system as it relates to bagels and white collar crime, noting that office workers cheat, do not pay for bagels, and that larger offices are worse than small ones. He shows the honor-system does work, at least about 87 percent of the time."
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Conflict of Interest, 2007.
A discussion about conflict of interest in financial institutions, focusing on Qantas and Alinta.
2,067 words (approx. 8.3 pages), 7 sources, APA, AU$ 95.95
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Abstract
In this article, the writer notes that conflicts of interest are of great concern in recent years and months, especially since the recent, highly-publicized buyouts involving Qantas and Alinta. The writer points out that in efforts to protect clients and mitigate risk in the financial sectors, conflicts in interest must be addressed suitably. The Qantas and Alinta buyouts have highlighted many of the worst issues pertaining to conflicts in interest in financial institutions. This paper seeks to review the existing literature concerning conflicts of interest, outlining the key terms and issues involved. It additionally covers the recent transactions and conflict of interest issues related to the Alinta MBO and Qantas Private Equity Deal. Finally, it turns to the views of the takeover panel, highlighting their views on conflicts of interest and, more specifically, their views on the Alinta MBO and Qantas private equity deal transactions.
Outline:
Introduction
Analysis
Background & Definitions
Evaluation
The Alinta MBO and Qantas Private Equity Deal
Background & Discussion
Possible Conflicts
The Takeover Panel and Conflict of Interest
Summary
From the Paper
"Conflicts of interest often shock shareholders and the general public since they often blatantly ignore the basic requirements and duty expectations of those involved. For example, a bank that abuses a conflict of interest by recommending services that they know are not the best for a customer comes under public scrutiny for abusing the basic trust assumed in a banking relationship. A bank may suggest such services because they receive a higher interest rate or because they do not offer competitive services. This takes advantage of the lack of knowledge of the consumer, who often looks to the bank as a trusted consultant. Individuals and investors have come to assume some trust in banking and finance relationships, and most would agree that this is not an unreasonable assumption."
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Big Business, 2007.
A look at George Stigler and his opposition to big business.
1,084 words (approx. 4.3 pages), 6 sources, MLA, AU$ 55.95
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Abstract
This paper reviews and discusses George Stigler. According to the paper, Stigler is opposed to big business. The paper reports that he defines big businesses as businesses that are large in size and also large relative to the industries in which they operate. The paper goes on to say that Stigler effectively argues that these types of businesses behave as monopolies to control prices and output and to encourage large government and labor unions.
From the Paper
"Finally, Stigler believes that market power by a few companies results in negative labor tensions. During the 1970s, a time when labor was more heavily concentrated in a small number of large corporations, Congress came down more strongly on labor's side than it did in subsequent decades (Uchitelle, 1989). The 1970s included extensive legislation that set safety and health standards in the workplace, regulated company pension plans to assure that they would be properly funded and supported hikes in minimum wages. And, union membership was twenty-four percent of the total work force in the 1970s versus seventeen percent a decade later (Uchitelle, 1989). Of course, the higher labor costs driven by government and unions were, like the cost of other government regulations, more affordable for big businesses. The losers were small and medium business who had to cut back on employees and the workers who became unemployed."
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Comparing Russia & American Business Customs, 2007.
A comparison between the business customs of Russia and the USA.
901 words (approx. 3.6 pages), 6 sources, MLA, AU$ 47.95
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Abstract
This paper reviews and discusses the different business practices and customs of Russia and of the USA. According to the paper, Russian - American business relations have been characterized by the 2001 agreement between President Bush and President Putin in which both countries decided their "determination to foster a new dynamic in American-Russian economic interaction".
From the Paper
"Russian - American business relations in recent years are characterized by the 2001 agreement between President Bush and President Putin in which both countries decided their "determination to foster a new dynamic in American-Russian economic interaction" (The White House, 2001). Both nations are now set on a course of increased trade with a group of elite business men attending a summit in Washington DC in 2005 as a major step in the constantly improving business relations between the United States and Russia (Russian Embassy, 2007). The United States and Russia are thus important business partners as American investment in Russia has increased to $6.3 billion in 2005 (Russian Embassy, 2007). Furthermore, Presidents of both countries have "expressed their support of the initiative by Russian and U.S. business communities to launch the Russian-American Business Dialogue as a permanent communication channel between the business circles and the government agencies of the two countries involved" (Russian Embassy, 2007)."
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Environmental Economics, 2007.
This paper looks at the effects of government regulation and market dynamics on the economy.
955 words (approx. 3.8 pages), 6 sources, MLA, AU$ 49.95
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Abstract
In this article, the writer maintains that the primary reason for government regulation is to correct perceived or actual market failures. The writer notes that increasingly, people are saying that government regulation does not appear to be working. However, the writer points out that government regulations are really failing because trying to alter market dynamics does not work. True, the dynamics of the market created the market failure, but the dynamics of the market will eventually resolve it as well if only given the chance. The writer concludes that market dynamics, by their very nature, are more efficient because all factors possible are considered and because the consumer is the better regulator as the laws of supply and demand eventually take hold.
From the Paper
"One form of market failure, a negative externality, arises when the actions one party result in a benefit or cost accruing to some external party that did not consent to the impact. Examples of negative externalities might be a manufacturer that irresponsibly releases pollution or consumes scarce natural resources. Market failure results because the manufacturer bears no costs for its actions; instead, costs are imposed on downstream parties that did not cause them. Advocates of government regulation believe that it can correct this type of market failure by imposing taxes or using tradable permits to force firms to internalize some of these social costs. According to Field and Field, taxes will force businesses to adjust emission rates so that the equimarginal rule is satisfied and to innovate so that cheaper ways of reducing emissions may be discovered. Tradable permits allow the government control over desired emission levels by giving a company the right to pollute at a certain level that is transferable to another company as a reward for keep emission levels low."
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Poland and Yugoslavia, 2007.
This paper explores the effects of the fall of communism on Poland and Yugoslavia.
1,314 words (approx. 5.3 pages), 9 sources, MLA, AU$ 65.95
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Abstract
The paper discusses how the fall of the communist systems around Europe had different effects and repercussions for communist countries and determined the historical evolution between economic success and disarray. The paper reveals that Poland and Yugoslavia now stand at practically opposing points of development. The paper looks at their respective systems of government and the economic factor. The paper demonstrates how Poland is a good example of the effects Western countries have had on its economic and political scene, whereas Yugoslavia represents a country still facing the chains of transition, with little European prospects.
From the Paper
"Overall, the first clear distinction is their positioning in relation to the international organizations and forums. Poland, on the one hand, is a solid member of the European Union, and its largest trading partner, according to official figures. (Ministry of Foreign Affairs in Poland, 2007)This historical outcome is the result of increased political efforts by the leadership in Warsaw to improve the visibility of their country in Europe. Thus, the political engagement of the Polish government made it possible for Poland to sign the European Agreement on 16 December 1991 "which established an associate relationship between the EC and the Republic of Poland." (Ministry of Foreign Affairs in Poland, 2007)"
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The United States and Free Trade, 2007.
An examination of the effects of the free trade regime on the United States.
3,381 words (approx. 13.5 pages), 10 sources, MLA, AU$ 141.95
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Abstract
The paper explains the evolution of free trade and looks at the General Agreement on Tariffs and Trade (GATT). The paper also discusses the North American Free Trade Agreement (NAFTA) and its effects. The paper explores free trade advantages for the United States and the benefits of the free trade agreements. The paper explains the general advantages and disadvantages of free trade and shows how the free trade regime has a series of positive effects for the United States.
Outline:
Introduction
The Evolution of Free Trade
The General Agreement on Tariffs and Trade
The North American Free Trade Agreement and its Effects
The Free Trade Advantages on the United States
Free Trade Agreements' Effects on the United States
General Advantages and Disadvantages of Free Trade
Conclusions
From the Paper
"By the term "free trade" economists refer to an idealized market model, where countries trade their goods or services without being limited and inhibited by tariffs and taxes imposed by governments and non-tariff barriers (Wikipedia, 2007). Some say that in order to have real free trade, perfect competition is required, while others say that the absence of inhibitory taxes is enough for the free trade to take place."
"Although free trade is considered by some economists to have important advantages, that surpass the eventual disadvantages, free trade has its share of opponents, like some of the nationalists, communists, agricultural and manufacturing interests, and anti-globalization and some labor campaigners."
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Bankruptcy, 2007.
This paper looks at the Interstate Bakeries' choice of bankruptcy and analyzes different types of bankruptcy.
1,023 words (approx. 4.1 pages), 3 sources, MLA, AU$ 53.95
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Abstract
In this essay, the writer discusses the filing for Chapter 11 bankruptcy reorganization by Interstate Bakeries, the maker of well-known food products such as Twinkies and Wonder Bread. The writer explains that although Interstate had several options at its disposal to reduce debt and generate cash, ultimately Chapter 11 bankruptcy allowed Interstate to address its debt and cost problems without having to mortgage the company's future through overly deep cuts or sell-offs. The writer then looks at different types of bankruptcy and discusses the alternatives that were available to Interstate. The writer concludes that by filing Chapter 11 bankruptcy, Interstate was able to get a handle on its costs, alleviate its debt, and emerge as a stronger and more stable operation.
Outline:
Types of Bankruptcy
Alternatives to Chapter 11: Pros and Cons
Conclusion
From the Paper
"In a Chapter 11 bankruptcy process, the court and a company's debtors will approve a reorganization plan that, among other things, determines how much various creditors get paid. There are two classes of competitors: secured and unsecured. The secured creditors, such as banks, get paid first; the unsecured creditors, such as vendors, may get only pennies on the dollar. Chapter 11 sometimes allows companies to restructure contracts, such as union deals, which was a big problem for Interstate. At any rate, companies emerge from Chapter 11 with a much better debt and cash-flow picture."
"Municipal organizations, such as cities or school districts, have a form of bankruptcy similar to Chapter 11, which is called Chapter 9 bankruptcy. Chapter 9 bankruptcy allows a municipal entity to restructure its debt and reorganize its operations, similar to Chapter 11."
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J.S. Mill and Karl Marx, 2007.
A comparative analysis of the political and economic theories of J. S. Mill and Karl Marx.
2,556 words (approx. 10.2 pages), 10 sources, MLA, AU$ 113.95
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Abstract
The paper analyzes the theories of Mill and Marx in terms of comparing Mill's utilitarianism and Marx's socialism. The paper compares two themes where they have similar ideas: the welfare of the individual as having greater value in the modern-capitalist society and the achievement of ethical freedom. The paper also looks at themes where they have differing ideas: individualism versus socialism and the right to property versus the equal distribution of property in society.
Outline:
Introduction
Theme 1
Theme 2
Theme 3
Theme 4
Conclusion
From the Paper
"John Stuart Mill was known for his development of the utilitarian movement, wherein capitalism is said to be the resulting effect of this phenomenon that occurred in the modern period. Under Utilitarianism, Mill promoted the idea of assuming individualism in pursuit of happiness, resulting to the concept of rationalism that gave birth to capitalism. Karl Marx, meanwhile, was synonymously identified wit the socialist movement in the midst of a rapidly-individualizing nature of human society under the capitalist economy. Under the socialist, specifically Communist, movement, Marx promoted the idea of achieving an ideal, egalitarian society through the dominant emergence of a proletariat class, occurring after a social revolution."
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Biometric Payment Trends, 2007.
This paper researches biometric payments as a business proposition in southern California.
1,527 words (approx. 6.1 pages), 5 sources, MLA, AU$ 74.95
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Abstract
The paper examines trends in Southern California in relation to biometric payments and looks at the current and future trends in this industry. The paper also explores sociological factors that may affect this business. The paper is of the opinion that the biometric market in Southern California is prime for exploitation in all areas of business and commerce. The paper discusses how the costs for implementation of this type of authentication system are relatively cheap with high rewards claimed.
Outline:
Objective
Introduction
How Biometric Identifiers Work
Different Forms of Biometrics in Use
Merchant Benefits in Biometrics
Southern California Supermarkets Use of Biometrics
Merchant Advantages
Customer Advantages
Biometric Market
Other Factors Affecting the Biometric Market
Summary and Conclusion
From the Paper
"The way that the biometric identifier works is simple: the customer places their finger on a scanner and a picture of the fingerprint it taken. The software then converts the fingerprint "into a map of minutiae points" (Hospitality Upgrade Magazine, 2000) and then is stored for reference. When making a purchase "the user holds a finger to the scanner, and the computer matches the stored print-map to the fingerprint. Only the minutiae points are stored in the image, not the actual fingerprint." (Hospitality Upgrade Magazine, 2000)"
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Race, Class, and Economics, 2007.
A analysis of civil rights for African-Americans from an economic perspective.
937 words (approx. 3.7 pages), 1 source, MLA, AU$ 49.95
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Abstract
This paper examines the quest for African-American civil rights as a movement for economic justice and opportunity as well. Several African-American philosophers' ideas are illustrated to show different outlooks on economic opportunity and prosperity in the US. Some leaders saw communism as a way to achieve economic parity with whites, while others felt it was necessary to work within the system through gaining a higher education. The role of African-American women in supporting households is also discussed.
From the Paper
"Early, on, advocates such as Cyril Brigg expressed the philosophy that Black nationalism must not be an ideology of territorial or race liberation alone, as advocated in the 'Back to Africa' movement of Marcus Garvey. Instead it must be an international working class movement of liberation founded upon Marxism and workers' rights--after all, American Black oppression was founded upon the capitalist needs of the slave trade. The American legislative system had proved a failure in winning Blacks their rights, thus a new system was required, and like Marx's workers, Blacks had nothing to lose but their chains, even less to lose than White workers (hence the greater attraction of more moderate trade unionism for Whites). "
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IT Outsourcing, 2007.
A discussion of the advantages of outsourcing in information technology.
4,798 words (approx. 19.2 pages), 35 sources, APA, AU$ 179.95
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Abstract
This paper examines the benefits of companies outsourcing projects, especially in the area of information technology. Outsourcing is defined and reasons are given why a company may decide to use outside contractors over in-house employees. Various countries that have profited from outsourcing are listed, followed by a discussion of how outsourced jobs may affect the US economy. Globalization as it relates to outsourcing is analyzed. Next, the paper devotes a large section to IT outsourcing, which includes a list of the benefits of this way of doing business. The paper concludes by acknowledging the role of management in making an outsourcing project successful.
Outline:
Introduction
Outsourcing defined
Outsourcing in Developing Countries: the Aftermath of Globalization
Table 1. The Role Played by the Developing Countries in Trade and Capital Flows
Table 2. Regional perspective on the Effects of Globalization.
Table 3. The Effects of Globalization in Selected Countries
Global IT Outsourcing
Conclusion
From the Paper
"There are many reasons why outsourcing or contracting out work is more preferred rather than developing in-house talents. First, it is seen as more cost-effective (Domberger, 1998)-for example, a contracted personnel from other countries require only smaller salary because of the certain standardized salary scheme within the country; second, to cut cost and refocus resources (Holt, Kennedy, Rehg & Ward, 2002) . A large company with numerous personnel with no specific work is the same with a company with smaller personnel but with specified work. This was done through outsourcing of different functions from different sources. And third, lower investment in internal infrastructure (Reaser, 1996), it will be built instead to the outsourced country. "
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"The New Economics", 2007.
This paper analyzes "The New Economics" by W. Edwards Deming.
1,430 words (approx. 5.7 pages), 1 source, MLA, AU$ 69.95
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Abstract
The paper relates that in "The New Economics," Deming offers a vision for industry, government and education based on effective knowledge, information management and sustainable growth. The paper asserts that the author is profoundly optimistic and forward-thinking in his views of knowledge, human potential and the capacity for positive transformation. The paper discusses how Deming extends far beyond the scope of textbook economics, looking at issues related to human welfare and well-being. The paper concludes that "The New Economics" offers a visionary theory of revolutionary change, not just in American economics but in American culture.
From the Paper
"The New Economics is succinct: less than 250 pages including the index. Accessible in its tone and layout if not its writing style, the book remains viable as a trade book but its author's background and credibility and his theoretical underpinnings make The New Economics required reading for students, scholars, and professionals. The crux of The New Economics is what Deming calls "A System of Profound Knowledge," which he outlines in detail in Chapter 4. The book is divided into ten sections plus an appendix and index."
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O.M. Scott and Company, 2007.
This paper provides a profile and case study of O.M. Scott and Company.
1,463 words (approx. 5.9 pages), 3 sources, MLA, AU$ 71.95
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Abstract
In this article, the writer explains that the O.M. Scott leveraged buyout case was an example of 1980s creative financing, in which a large corporation in deep debt was able to not only be bought out by a company it then took over, but gained momentum and credit credibility. The writer further explains that O.M. Scott manufactures, markets and sells lawn care and garden products; and provides garden maintenance services. The writer points out that O.M. Scott & Sons was sold and became a closely held company following the war, when, in 1971, it was bought out by ITT. O.M. Scott & Sons remained within the conglomerate until 1986. In this article, the writer looks at related problems and discusses possible alternative courses of action.
Outline:
Introduction
Background of Company
History
Analysis of Case
Major Problems
Alternative Course of Action
Analysis of Alternatives
Conclusion
From the Paper
"At the end of fiscal 1961, Scott and its subsidiaries had $16.2 million of long-term debt outstanding, $12 million in renewable five-year subordinated notes of the parent company held by four insurance companies and a trustee, and $4.2 million in publicly held bonds owed by Scotts Chemical Plant, Inc., a wholly-owned subsidiary."
"The governing loan indenture limited the company's maximum outstanding debt to an amount not greater than three times the company's "equity working capital" as of the preceding March 31. The note indenture restricted outstanding subordinated notes to only 60% of maximum allowed debt. The agreement also required that Scott be free of bank debt for 60 consecutive days each year and that the company earn before taxes one and a half times its fixed financial charges, including interest on funded and unfunded debt, amortization of debt discount, and rentals on leased properties."
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Supply and Demand, 2007.
An analysis of concepts behind supply and demand.
815 words (approx. 3.3 pages), 2 sources, APA, AU$ 43.95
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Abstract
This paper examines the concept of supply and demand by giving clear definitions and examples. Basic economic terminology is presented and is further illustrated with concrete examples. The paper uses the demand for physicians in the US to describe supply and demand, with practical ideas of how to increase supply.
From the Paper
"The rate of supply and demand may vary depending on the trend in the environment. One instance is when the people in one community are so keen in holding or keeping some supplies for their own future personal use. While the people are keeping their stocks on hold, there will surely be dramatic changes in both the supply and demand, as well on the price of the commodities (Lee, 1992)."
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The Hungarian Gas Turbines Industry, 2007.
A strategic assessment of the microeconomic strengths and weaknesses of the gas turbines industry in Hungary.
1,203 words (approx. 4.8 pages), 5 sources, MLA, AU$ 60.95
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Abstract
The paper relates that the gas turbine industry is considered by many to be one of the most dynamic segments in the power generation industry. The paper examines the Hungarian energy market and discusses its strengths and weaknesses. The paper concludes with a recommendation for direct investment in Hungary in this industry, given the potential of the market and the perspectives for its development in the future.
From the Paper
"The Hungarian energy market is continuously growing to keep up with the diversification of the economy and with the constant increase in the level of industrial modernization. One of the threats for Europe and Hungary in terms of the gas turbine market is the high dependency to Russian energy sources. Indeed, as the recent energetic crisis have shown, the countries in Central and Eastern Europe are depending on Russian gas transports, as well as on the prices that Gazprom, the large Russian energy holding, sets."
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