...Running Head: THE CONSTITUTION The Constitution Geraldine Rodgers American Government ASB 118 Wednesday Oct 03, 2012 The Constitution of the United States is the supreme law of the United States of America. The first three Articles of the Constitution establish the rules and separate powers of the three branches of the federal government: a legislature, the bicameral Congress; an executive branch led by the President; and a federal judiciary headed by the Supreme Court. The last four Articles frame the principle of federalism. The Tenth Amendment confirms its federal characteristics. The Constitution was adopted on September 17, 1787, by the Constitutional Convention in Philadelphia, Pennsylvania, and ratified by conventions in eleven states. It went into effect on March 4, 1789. The first ten constitutional amendments ratified by three-fourths of the states in 1791 are known as the Bill of Rights. The Constitution has been amended seventeen additional times (for a total of 27 amendments) and its principles are applied in courts of law by judicial...
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...People and Free Markets Are the Best Answer is Today's Economy S T E V E FORBES and E L I Z A B E T H A M E S HOW CAPITALISM WILL SAVE US HOW CAPITALISM WILL SAVE US W h y Free People and Free Markets A r e t h e Best A n s w e r i n Today's E c o n o m y Steve Forbes AND ELIZABETH AMES CROWN BUSINESS ALSO BY STEVE FORBES Power Ambition Glory (coauthored with John Prevas) Flat Tax Revolution A New Birth of Freedom To the millions of individuals whose energy, innovation, and resilience built the Real World economy. Their enterprise, when unleashed, is always the answer. Copyright © 2009 by Steve Forbes and Elizabeth Ames All rights reserved. Published in the United States by Crown Business, an imprint of the Crown Publishing Group, a division of Random House, Inc., New York. www.crownpublishing.com CROWN BUSINESS is a trademark and CROWN and the Rising Sun colophon are registered trademarks of Random House, Inc. Library of Congress Cataloging-in-Publication Data Forbes, Steve, 1947How capitalism will save us / Steve Forbes and Elizabeth Ames.—1st ed. p. cm. Includes index. 1. Capitalism—United States. 2. United States—Economic policy. 3. United States—Economic conditions. I. Ames, Elizabeth. II. Title. HB501.F646 2009 330.12'20973—dc22 2009032751 ISBN 978-0-307-46309-8 Printed in the United States of America DESIGN BY BARBARA S T U R M A N 1O 9 8 7 6 5 4 3 First Edition CONTENTS INTRODUCTION ...
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...Essays on the Structure of Financial Markets A thesis presented by Oved Yosha to The Department of Economics in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the subject of Economics Harvard University Cambridge, Massachusetts May 1992 Abstract Chapter I: Adverse selection in an insurance market may result in low-risk individuals remaining uncovered. In the framework of a monopolistic insurance market with private information, it is shown that government entry to the market as a competitor which sells insurance, results in all potential buyers actually purchasing insurance. Chapter II: The welfare trade off between reduction in risk and enhanced market power, as depository institutions become larger but fewer, is studied. The main result is that when there are enough independent risks in the economy, it is possible to achieve high diversification through mergers between depository institutions at a very small cost in terms of greater market power. Chapter III: Firms wishing to issue securities on the stock market are required to disclose private information which might be beneficial to competitors. Issuing securities publicly is more costly than doing so privately. In equilibrium, firms with sensitive information issue securities privately, while competitors cannot unambiguously infer that the information withheld is very sensitive. This suggests that one special role of banks and venture capital in financial markets, is to provide debt and...
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...U. S. Federal Reserve's Monetary Policy Eco 561 June 22, 2010 Douglas C. Holbrook U. S. Federal Reserve's Monetary Policy The Fed can be considered second to the President of the United States as one of the most influential and powerful men in the United States. As the world tunes in to the and monetary decisions that the Federal Reserve makes, those deacons impacts trillions of dollars and hundred of millions of people. It is important to understand the function of money, the structure of the Fed Reserve and purpose, how the central bank controls the money supply and lastly what current monetary policy has the Fed enacted to boost up the economy. The Purpose and Function of Money Money is an economic resource. It is a mean to obtain value to be utilized for different purposes in ways other than the manner earned or realized. Money and its function simplify the production and use of wealth. It is defined as anything that is “widely accepted as a medium of exchange” (McConnell, Brue, & Flynn, 2009). Some of its functions are as follows: * Unit of account – monetary units are used as yardsticks to measure the comparative value of an array of goods and services, and resources. * Store of value/wealth – enables people to purchase goods and services in the present or future. * Medium of exchange – it is usable for buying and selling of goods and services. Money allows society to escape the complication of barter. As for the medium of exchange or...
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...Macroeconomic Theory Principles of Economics (Econ 1) 1 EMPLOYMENT AND UNEMPLOYMENT (INTRODUCTION) • The Keynesian revolution was driven by the desire to explain the high unemployment (U) of the 1930’s. • The solutions proposed by Keynes, focused on the use of countercyclical fiscal policy (AD demand management) to cure U. • Hence countercyclical fiscal policy was seen as effective in smoothening business cycles. • Cyclical U is associated with GDP being below equilibrium. 2 EMPLOYMENT AND UNEMPLOYMENT (INTRODUCTION) • But it is possible to have equilibrium U even when GDP is at its potential level. • It is therefore necessary to explain both cyclical and equilibrium unemployment. • Under this topic, we will cover the following: – Measurement and definitions, – Theories of U, – Economic costs of U, and – Solutions of U. 3 EMPLOYMENT AND UNEMPLOYMENT (Definitions and Measurement) • The unemployment rate: It is the ratio of the number of unemployed persons to the total number of persons in the labor force. It is usually expressed as a percentage. • The labor force consists of all those persons who are willing to work at a market equilibrium wage, and who either have jobs or are seeking work. 4 EMPLOYMENT AND UNEMPLOYMENT (Definitions and Measurement) • Discouraged workers: These are people who are willing to work at the going wage, but have given up looking actively for work, because they do not expect to find a job. • They are not registered for unemployment...
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...F u r t h e r Praise for Globalization and Its Discontents " Development and economics are not about statistics. Rather, they a re about lives and jobs. Stiglitz never forgets that there are people at t he end of these policies, and that the success of a policy should be d efined not by h o w fast international banks are repaid, but by h o w m u c h people have to eat, and by h o w much better it makes their lives." — Christian Science Monitor " [An] urgently important new book." — Boston Globe " Whatever your opinions, you will be engaged by Stiglitz's sharp i nsights for a provocative reform agenda to reshape globalization. A m ust read for those concerned about the future, w h o believe that a w orld of decent work is possible and want to avert a collision course b etween the haves and the have nots." —Juan Somavia, d irector-general of the International Labour Organization " [Stiglitz s] rare mix of academic achievement and policy experience m akes Globalization and Its Discontents w orth r e a d i n g . . . . His passion a nd directness are a breath of fresh air given the usual circumlocutions of economists." — BusinessWeek " T h i s smart, provocative study contributes significantly to the o n g o i n g globalization debate and provides a m o d e l of analytical r igor c o n c e r n i n g the process of assisting countries facing the challenges of e c o n o m i c development and transformation. . . . Impassioned, balanced and i n f...
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...Nobody likes a robber.Especially when they live right next door. You see, the Americans had just gotten the Louisiana Purchase in 1803 which gave them lots of land. Then later Mexico gained its independence in 1821. After that in 1836 Texas decided to be independent too.(Background Essay) The Texans decided to sign a treaty with the U. S. and then the Americans got greedy again. They wanted the land from the Nueces River down to the Rio Grande. They wanted it so bad that they decided to go to war over it with Mexico. The United States might have been justified in going to war. No, the U. S. was not justified in going to war with Mexico because America was being disrespectful, America was stealing land, and America wanted a war. The first...
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...key facts about shor t-run economic fluctuations Consider how the economy in the shor t run dif fers from the economy in the long run A G G R E G AT E AND DEMAND S U P P LY Use the model of aggregate demand and aggregate supply to explain economic fluctuations A G G R E G AT E Economic activity fluctuates from year to year. In most years, the production of goods and services rises. Because of increases in the labor force, increases in the capital stock, and advances in technological knowledge, the economy can produce more and more over time. This growth allows everyone to enjoy a higher standard of living. On average over the past 50 years, the production of the U.S. economy as measured by real GDP has grown by about 3 percent per year. In some years, however, this normal growth does not occur. Firms find themselves unable to sell all of the goods and services they have to offer, so they cut back on production. Workers are laid off, unemployment rises, and factories are left idle. With the economy producing fewer goods and services, real GDP and other measures of income fall. Such a period of falling incomes and rising 413 See how shifts in aggregate demand or aggregate supply can cause booms and recessions 414 PA R T E I G H T S H O R T - R U N E C O N O M I C F L U C T U AT I O N S recession a period of declining real incomes and rising unemployment depression a severe recession unemployment is called a recession if it is relatively mild and...
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...Telecommunication Union (ITU). The report is based on field research carried out between 1 5 October 2001 as well as articles and publications sourced in the document. The National Telecommunications Commission provided incalculable support; without their assistance, this report would not have been possible. Equally, the report would not have been possible without the cooperation of the many from the Filipino public and private ICT sector who offered their time to the reports authors. The kind hospitality of Philippine Electronics and Telecommunications Federation (PETEF) is also acknowledged. We would also like to thank N. Santiago of Globe and A. Bengzon, Undersecretary for Communications, for their insightful comments. The report is one of a series of case studies examining the Internet in South East Asia carried out in 2001. Additional information is available on the ITUs Internet Case Study web page at http://www.itu.int/ITU-D/ict/cs/. The report may not necessarily reflect the opinions of the ITU, its members or the government of the Republic of the Philippines. The title refers to the Filipino (Tagalog) word Pinoy meaning Filipinos by Heart. The SMS message appearing on the mobile phone screen (Kmusta txt k nman) is also in Tagalog and means Hello, can you send me a text message. © ITU 2002 ii Contents 1. Country background ............................................................ 1 1.1 Overview ..........................................................................
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...Chapter 27 Multinational Financial Management ANSWERS TO BEGINNING-OF-CHAPTER QUESTIONS Most of the questions are illustrated in the BOC spreadsheet model. 27-1 A purely domestic firm does not have to deal with exchange rates, different laws in different countries, transferring funds between subsidiaries in different countries, having to communicate in different languages, and so forth. All of these factors create complications and challenges for multinational firms. In spite of these challenges, there is a strong trend among corporations to “go global.” The primary motivation is profit—many firms can increase their rates of return on investment, and their stock prices, by going global. Some do it primarily to get raw materials; oil companies are an example. Others go global to expand their markets, which helps them cover huge development costs; this is true for producers of movies like Lord of the Rings. Others go global because production costs are lower overseas; this is true for most electronics firms. Still others buy from foreign suppliers; Wal-Mart and Nike are examples. Finally, banks, accounting firms, and other service companies are going global because their customers are doing so, and they must follow their customers or lose them. 27-2 (See the BOC model for data and examples of exchange rates.) From a U.S. perspective, an exchange rate tells us: a. Direct quotation: Number of dollars required to buy one unit of a foreign...
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...E ROLE OF LAW IN THE U.S. HEALTHCARE SYSTEM USING THE LAW TO PROMOTE OUR POLICY GOALS AND ETHICAL PRINCIPLES The study of law is more than simply memorizing a list of activities that are illegal, such as Medicare fraud or price-fixing. It is more than memorizing the penalties for particular violations, such as the number of years in prison one can receive for a class B felony or the fine for driving 50 miles per hour in a 35 mile per hour zone. It is more than trying to remember the names of court cases or the citations to statutes and regulations. Instead, law is a policy discipline and a social science. Moreover, the law is not cast in stone, but is subject to change. For hundreds or perhaps thousands of years, people have reconsidered and changed the rules that govern their activities. In a democratic society, we have the power to make further changes in the laws by which we live. Therefore, as students and scholars of law, we not only study the current state of the law, but also what we think the law should be. In particular, we consider how we can use the law to accomplish our goals of public policy. We begin this type of analysis by identifying a practical problem. For example, we may want to focus on discrimination, violence, environmental pollution, or inadequate access to healthcare services. Then, we try to figure out how to use the law and the legal system to solve that particular problem by creating a new law or by changing an existing law. ...
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...MINISTRY OF EDUCATION A NEW FUNDING FRAMEWORK: HOW GOVERNMENT GRANTS ARE ALLOCATED TO PUBLIC HIGHER EDUCATION INSTITUTIONS 1 2 3 4 5 6 7 8 Income sources of public higher education institutions The new funding framework: an overview Division of the government budget for higher education into categories of grants Teaching input grants Teaching output grants Research output grants Institutional factor grants Moving from current to the new funding framework February 2004 1 INCOME SOURCES OF PUBLIC HIGHER EDUCATION INSTITUTIONS The diagram below offers a broad summary of the ways in which funds flow to public universities and technikons in South Africa. Diagram 1: Sources of funds of public higher education institutions Government grants 50% Student tuition & other fees 25% Annual funds for public higher education 100% Other private income 25% The proportions reflected in the diagram are averages for the system as a whole. These proportions can differ widely between institutions. For example, government grants as a proportion of total income can be as low as 35% if an institution is able to raise large amounts of private funds through research contracts, donations and investments and can be as high as 65% in the case of institutions which are not able to generate substantial amounts of private income. The Ministry of Education has direct control over only government grants to public universities and technikons. The Ministry furthermore takes no...
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...qualities that made people think of him in several different lights. One of the ways people saw him is overrated and taking credit for what he did not do when he resided at the White House as president. On the other hand some said he is much underrated due to him not getting proper credit for some of the things he did and changed while he was in office. He had quite a few items that are in the history of this country, which include the Principles of the New Right, the Iran Contra Affair, and credit for ending the Cold War between the United States (U. S.) and the Soviet Union (USSR). These are just a few items that will be taken into consideration to see if he was or was not the person that is liked or disliked by the people of the U. S. The election of President Reagan in 1980 saw the emergence of what was considered the “conservative cause known as the “New Right” movement, partly in response to counter-cultural protests of the 1960’s-evangelical Christian groups, social issues” (The resurgence of conservatism 1980-2000, 2014). The Reagan Doctrine; “A strategy orchestrated and implemented by the United States under the Reagan Administration to oppose the global influence of the Soviet Union during the final years of the Cold War” (The resurgence of conservatism 1980-2000, 2014). It is also known as an expressive term or period for numerous guidelines or groups from the right-wing. This group focused mainly on the societal matters concerning national authority and it was linked...
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...S O CIAL SEC U RIT Y | AN N U AL RE P O R T 2006- 2007 Chapter-6 SOCIAL SECURITY INTRODUCTION 6.1 The Social Security schemes in India cover only a small segment of the organized work force, which may be defined as workers who are having a direct regular employer-employee relationship within an organization. The social security legislation in India derives their strength and spirit from the Directive Principles of the State Policy as contained in the Constitution of India. These provide for mandatory social security benefits either solely at the cost of the employers or on the basis of joint contribution of the employers and the employees. While protective entitlements accrue to the employees, the responsibilities for compliance largely rest with the employers. SOCIAL SECURITY LAWS 6.2 The principal social security laws enacted in India are the following: • • The Employees’ State Insurance Act, 1948 The Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 (Separate provident fund legislations exist for workers employed in Coal mines and tea plantations in the state of Assam and for seamen). The Workmen’s Compensation Act, 1923 The Maternity Benefit Act, 1961 The Payment of Gratuity Act, 1972 OF SOCIAL the Employees’ State Insurance Act, 1948 are administered by the Central Government through the Employees State Insurance Corporation (ESIC), whereas the State Governments and Union Territory Administrations are administering medical care under the Employees’...
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...Decisions for the convenience of the reader. See United States v. Detroit Timber & Lumber Co., 200 U. S. 321, 337. SUPREME COURT OF THE UNITED STATES Syllabus SKILLING v. UNITED STATES CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE FIFTH CIRCUIT No. 08–1394. Argued March 1, 2010—Decided June 24, 2010 Founded in 1985, Enron Corporation grew from its headquarters in Houston, Texas, into the seventh highest-revenue-grossing company in America. Petitioner Jeffrey Skilling, a longtime Enron officer, was Enron’s chief executive officer from February until August 2001, when he resigned. Less than four months later, Enron crashed into bankruptcy, and its stock plummeted in value. After an investigation uncovered an elaborate conspiracy to prop up Enron’s stock prices by overstating the company’s financial well-being, the Government prosecuted dozens of Enron employees who participated in the scheme. In time, the Government worked its way up the chain of command, indicting Skilling and two other top Enron executives. These three defendants, the indictment charged, engaged in a scheme to deceive investors about Enron’s true financial performance by manipulating its publicly reported financial results and making false and misleading statements. Count 1 of the indictment charged Skilling with, inter alia, conspiracy to commit “honest-services” wire fraud, 18 U. S. C. §§371, 1343, 1346, by depriving Enron and its shareholders of the intangible right of his honest...
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