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Essays on Economics

The McDonaldization Of Society
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... of rationalization, the structure they impose on human interaction and thinking furthers the process, leading to an increasingly rationalized world. The process affects all aspects of our everyday life. Ritzer suggests that in the later part of the Twentieth Century the socially structured form of the fast-food restaurant has become the organizational force representing and extending the process of rationalization further into the realm of everyday interaction and individual identity. McDonald's serves as the case model of this process in the 1990's. ...McDonaldization,...is the process by which the principles of the fast-food restaurant are coming to dominate more ...



Screening For Drugs By Employers
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... any type of job involving the use or supervision of complicated machinery, one is prompted to take random drug tests. The usual method of drug testing in such a case is urinalysis. By forcing employees to take these random tests, employers are often accused of taking away employees' rights. Though a place of work is not exactly a democracy, it is true to an extent. The rights of American citizens include something called probable cause. In the United States Constitution, it is stated that no one shall have their privacy invaded without a warrant issued by a law official. Some argue that by being forced to take drug tests they are denied this right. However, s ...



U.S. Multinational Corporations In Europe
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... bring peace and prosperity to Western Europe. The European Union was created after World War II to prevent any more wars between the European countries. There are fifteen countries participating in the European Union which are Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, The Netherlands, Portugal, Spain, Sweden, and the United Kingdom. The European Union brought together a market of 370 million consumers, which share common institutions and policies. The European Union made Europe one of the world's trading powers. The European Union has also created a single market that took effect in 1993, and established a free t ...



Monetary And Fiscal Policy
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... the percentage of money that the bank is not allowed to loan out. If it is lowered, banks are required to keep less money, and so more money is put out into circulation(theoretically). If it is raised, then banks may have to collect on some loans to meet the new reserve requirement. The tool known as open market operations influences money and credit operations by buying and selling of government securities on the open market. This is used to control overall money supply. If the Fed believes there is not enough money in circulation, then they will buy the securities from member banks. If the Fed believes there is too much money in the economy, they will sell the s ...



Capitalism In America
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... or to get land for farming than anywhere else in the developed world. At the time the U.S. Constitution was written, it was generally assumed that only property owners should have the right to vote and participate in government. The "Free Labor" thinking of the Republican Party before the Civil War was basically a form of the capitalist work ethic. It meant that if 1) you were free yourself; 2) your country was "free"; and, 3) there was no slave labor to take your livelihood, you could "make something of yourself," and become a capitalist or, at least, an independent producer, professional or artist. Americans in the North at that time were influenced by thi ...



Institutions That Facilitate Economic Segregation
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... creates a unique paradox. While traditionally the best way to climb the ladders of society, American schools are now reproducing social classes. Those children born into poor families and neighborhoods usually begin their school career at a steep disadvantage. Public schools that are run down and lack sufficient funding or other key resources like good teachers are endemic to these lower income areas. The idea of class reproduction, or the correspondence principle, is obviously present in education. As mentioned above, differences between schools and school districts exist. In his article on the inequalities of public education in New York, Kozol describ ...



Oil In America
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... facts which prove that there have been decreases in the fish population and in the aquatic life in the regions where the oil companies have been. The negligence of these companies can be shown in different fields. There have been many incidents in the oil field industry dating back to January 28 1969, in Santa Barbara. This may have been a long time ago but this was a disaster this country has never seen. On the 28 a well burst on the Santa Barbara Channel. It "raged for ten days and killed 3 crewmen".(Easton,10) There were major problems stopping this rig and no matter what happened there was already enough damage done. On February 23, the well erupted ag ...



International Business Ventures
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... picture" of the market, management's analysis of the potential business venture and plan of action will be structured as to avoid losses and to find the most profitable scenarios. The success of the multinational corporation lies on the shoulders of it's management. International management and organization-design expert Henry Mintzenberg says every CEO has three essential duties: direct supervision, development of the organization's strategy, and management of the organization's boundary conditions. Top management's responsibility at and beyond the organization's boundaries is largely a communication responsibility; however, no commonly accepted model exists ...



Long Swings In The Exchange Rate And The Excess Returns Puzzle: The Role Of Imperfect Knowledge
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... of the benchmark is key to the mechanics of the process. In this case, PPP is an obvious choice… but, since the idea of PPP drives this model so strongly, it is interesting to look at its place and its characteristics. In the paper, the authors note that if PPP holds, "relative excess demand for domestic and foreign goods is zero." The obvious suggestion, based on the model, is that the flow of goods and services is the foundation for the equilibrating dynamic. Behind the flow of goods and services is the gap between the gap between, domestic and foreign short-term rates, and the steady state long-run interest rate gap that sets goods flows to zero. The assum ...



Corporate Downsizing
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... employees and those who survive with the company. - STAGES OF DOWNSIZING - The downsizing process can generally be broken down into three distinct stages. The first stage is called the diagnostic stage. In this stage, management staff pulls together and determines the amount of costs and expenses that need to be reduced, and how much can come out of layoffs (Moore 49). This stage usually takes about two to three months to complete. During this time, the upper management reviews all financial records in order to determine how much is needed to be cut from salary expenditures (Moore 50). This stage is concluded when the senior management has a detailed p ...




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