President Jimmy Carter and Big Government Spending Essay

Although Carter was a likable man, the role of president was not the job for him. His big government spending and policies were responsible for leading our fragile country into one of the worst economic recessions ever. However, this all changes in January of 1981 when President Ronald Reagan was sworn into office and came to our country’s rescue. Reagan stepped in ready to mend the deep scars left behind by setting forth an economic plan, Reaganomics, in hopes to bail out our sinking country. Though many may say Reagan’s conservative ways had this plan favoring the upper class, this was not the case. In 1981 President Carter handed his duty to Ronald Reagan in a vulnerable time for the country. America was in an economic recession where†¦show more content†¦Supply-side went off the idea that, â€Å"tax rates affect a person’s incentive to work, save, and invest. To put it simply: lower tax rates create more economic energy, which generates more economi c activity, which produces a greater flow of revenue to the government† (Gramm, Phil). This was known as the Laffer Curve. When Reagan first came into office he was dealing with marginal rates at about 70% of returns on savings and investments, but as he left office, 33% was the highest rate in the tax code which even dropped to 28%. These tax rates led the nation to one of the longest peacetime recoveries economically (Gramm, Phil). Before people can blame Reagan for stealing from the poor we must look at the overall effects of his plan that seemingly led America out of a deep recession. First of all, the tax cuts that he implemented were for ALL Americans. That means the rich, the poor, African Americans, and even the disabled. These tax cuts were a positive incentive for everyone, which in turn helped to stimulate the economy. In Reagan’s Radio Address to the Nation in 1983 he explains how much trouble Carter’s double-digit inflation negatively affected the c ountry. The government was faced with large deficits and record high interest rates. Of course with the devastating numbers, the poor were scrambling to keep their heads above water and consequently many plummeted into deep poverty. With the poverty level sky-rocketing, any effort Reagan made toShow MoreRelatedRonald Reag A Beloved American President869 Words   |  4 PagesReagan was a beloved American president. However, he didn’t represent the prodigious archetype all citizens should follow. Reagan declared that the â€Å"government isn’t the solution to our problem† rather, â€Å"the government is the problem†. He decried that years of new deal-style tax- and- spend programs created a federal government that reminded him of a create who was all appetite at one end with no sense of responsibility on the other. 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Li Fung Introduction Free Essays

Introduction: â€Å"Globalization†, the word everybody has heard of and which Is literally spread everywhere. Either In school, university or In the news. People are constantly discussing about this term and its consequences. We will write a custom essay sample on Li Fung Introduction or any similar topic only for you Order Now But what does globalization actually mean? There are thousands of deflations and It Is hard to find one which covers all areas of globalization. In short words Globalization considers the process of the world becoming more and more interdependent and linked concerning politics, economy, environment and technology. It is not possible anymore to see our economy as a single unit. Instead the whole world is connected and linked through cash or trading flows or commodities that are being shipped for instance from Hong Kong to the US. This process has significantly influenced multinational companies and their strategic development in order to gain more wealth and growth from an international point of view. In the following assignment I am going to analyses the internationalization strategy of Lie Fun, a Hong Kong based multinational company which targets on a unique supply- chain management system and also covers logistics. We span a range of such as toys, home furnishings, sporting goods, footwear, and health and beauty products. Our services cover all aspects of the supply chain from product design, raw material sourcing and production management to quality control, logistics, and shipping. We operate one of the world’s most extensive global networks across our trading and logistics businesses. More than 28,000 colleagues work across some 300 offices and distribution centers in more than 40 different markets. We have access to a sourcing network encompassing over 1 5,000 suppliers around the world. The Trading business provides sourcing services to retailers, brand owners and wholesalers to support their brands on both an agency (commission margin) and a principal (product margin) basis. It also offers design and products to retailers on a wholesale basis. The Logistics business is a leading player for logistics in distinct verticals across Greater China and Southeast Asia, and interacts with our trading business to provide comprehensive in-country logistics solutions and international freight forwarding services. ) How to cite Li Fung Introduction, Papers

Supply and Demand are Market Economy

Question: Discuss about the Supply and Demand are Market Economy. Answer: Introduction Supply and demand are considered as the backbone of the market economy as well as the major primary concepts of economics. Demand describes the total amount of a commodity as well as services that are desired by purchasers. It also demotes the total amount of the commodity that all the purchasers are willing to purchase at a certain price. On the other hand, supply describes the total amount of a product that are offered by the market. It also denotes the amount of a certain commodity that certain producers are willing to supply (Bowen and Sosa 2014). According to the law of demand, if all the factors remain constant, the more the price of a good the individuals will demand the less. On the other hand, if the price of good decreases, the individuals will demand more. Similarly, the law of supply denotes the total quantity of a commodity that are sold at a certain price (Kannai and Selden 2014). Discussion According to the Sydney Morning Herald, Supermarkets in Australia struggles to meet demand for brand label milk. Dairy farmers are facing the problem related to fall in prices since Coles. During the face of decreasing global prices, the two biggest dairy processors in Australia cut the price they desired to pay to the farmers for milk. As a result, a social media platform arranged campaign that called for customers in order to support the farmers by purchasing more milk, yoghurt as well as cheese and the individuals were also requested to purchase branded products instead of home brand goods from the supermarkets. According to the president of Australian Dairy Farmers, she did not encourage boycotting certain brands however; she desired to see individuals purchasing branded products (Lawrence and Dixon 2015). There are noteworthy changes taking place in the economic growth rate as well as the domestic policies of the trading partners that is likely to affect the demand for agricultural products in Australia. The demand for agricultural products in Australia is mostly influenced by outbreaks in the food safety and more wide-ranging concerns of customers over chemicals used during the production procedure. Worldwide diets are becoming increasingly harmonized that in turn forced governments to focus on manufacturing as well as importing agricultural products that were previously consumed by only Western societies (Qureshi, Hanjra and Ward 2013). In order to reach the export target set by the government, the farmers of Australia requires to improve their productivity as well as competitiveness in the international market. The growing population in Australia is likely to get coupled with rising per capita consumption that will in turn put an increased pressure on the domestic food system. On the other hand, the aging population in Australia will increasingly have an effect on both food consumption prototypes and total demand. The increasing ethnicity in Australia is likely to drive demand for imported food commodities (Marinoni et al. 2012). The factors other than price that affects demand includes tastes and preferences of the customers, income of the people as well as the number of individuals in the market. Tastes and preferences is regarded is one of the most imperative determinant that affects demand. The demand will be more for those products, the tastes and preferences for which will be grater. As a result, the demand curve for such products lies at a higher level. The demand for several goods changes due to change in fashion. Income of the people also determines their demand because if the income of the people increases, their demand for goods will increase. The greater income indicates greater purchasing power. In other words, if the income of the people increases they will be able to afford more. If the commodity is a normal good, then the increase in income will lead to increase in demand. However, if the commodity is an inferior good, then an increase in income diminishes the demand. The market demand for a g ood is obtained by adding up the demand of the individuals at several possible prices (Bohi 2013). The factor other than price that affects supply includes technology, transport condition as well as policies of the government. Technology is considered as one of the most important determinants for supply as an enhanced and better technology leads to increase in the production of a commodity that in turn leads to increase in supply. The supply of a commodity will also get decreased if the government incurs tax. In other words, the increase in tax leads to increase in the cost of production that in turn lowers supply. Transport also acts as a constraint for supply of a commodity. If the products are not available at the specified time due to poor transport facility, it affects the supply for that product. Conclusion It can be concluded that the population in Australia is predominantly urban that is largely accountable for the augmented demand for suitable processed foods. At present, Australia upholds a trade surplus in the food processing and beverages sector. It can also be concluded that income of the people also determines their demand because if the income of the people increases, their demand for goods will increase. References Bohi, D.R., 2013.Analyzing demand behavior: a study of energy elasticities. Routledge. Bowen, W.G. and Sosa, J.A., 2014.Prospects for faculty in the arts and sciences: A study of factors affecting demand and supply, 1987 to 2012. Princeton University Press. Kannai, Y. and Selden, L., 2014. Violation of the Law of Demand.Economic Theory,55(1), pp.1-28. Lawrence, G. and Dixon, J., 2015. 11. The political economy of agri-food: Supermarkets.Handbook of the International Political Economy of Agriculture and Food, p.213. Marinoni, O., Garcia, J.N., Marvanek, S., Prestwidge, D., Clifford, D. and Laredo, L.A., 2012. Development of a system to produce maps of agricultural profit on a continental scale: an example for Australia.Agricultural Systems,105(1), pp.33-45 retrieved from https://www.smh.com.au/business/retail/supermarkets-struggle-to-meet-demand-for-brand-label-milk-20160524-gp2cwo.html Qureshi, M.E., Hanjra, M.A. and Ward, J., 2013. Impact of water scarcity in Australia on global food security in an era of climate change.Food Policy,38, pp.136-145.