Nobody downloaded yet

Money , its for a History of economic thought class - Essay Example

Comments (0) Cite this document
Summary
Name: Instructor: Course: Date: How money comes between people Long ago, I remember reading a quote “Sometimes money costs too much”, out of naivety or being so inexperienced with the money economy the quote did not trigger any thoughts. It was just one of those catchy thoughts that great minds come up with…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.5% of users find it useful
Money , its for a History of economic thought class
Read TextPreview

Extract of sample
"Money , its for a History of economic thought class"

Download file to see previous pages Money is the difference between that person who is sleeping hungry and that one who affords to have his pets on a special diet. In this sense, it is the promoter of inequality. Once inequality checks in, the consequences are unlimited there is anger, dissatisfaction, deception and every other emotion and act that epitomizes dissent. It is at this point that “money costs too much”. This is because it gets to a point where it costs life, peace and relationships. The focus of this essay is on relationships the concern is how money comes between people, how money blurs our sight that we soon forget the emotional, patriotic and sometimes blood bond that hold us together. The essence of this inquiry has been informed throughout the semester, having the opportunity to journalize different experiences regarding money has really brought to the fore the value we place on money. This is because unless we place too much value on money higher than the value we place on our social relations then it would never be possible for money to downplay our relations. Unfortunately, the exposure I have had throughout this course and the materials I have read have brought to the fore the disheartening truth that money has a much greater force, it costs too much. Economically, money is considered a medium of exchange the means through which we are able to acquire different goods and services. Historically, it has not always been represented by coins and notes but at some point gold and other valuable metals were the preferred means of exchange. However, history teaches us that the problem has not been with the nature but on the value placed on these materials. Any material in which extreme value has been placed has thrown people into frenzy they are continually interested in amassing that which has value. The burst of the Mississippi bubble brings this act of desperation and thirst for value into perspective. It depicts the race to hold that which has value and disposing that which has less value. This has been a historical trend, one that has only aggravated over time, the fundamental question is at what cost? The answer may not be as a definite, but it is evident, it is at a much higher cost. Over the past few months I have been able to watch the documentary “inside job”. The film directed by Charles Ferguson traces the root of the financial crises that only became so apparent in 2007-8. However, following the film clearly illustrates that the financial crises had been ongoing for a while. The signs had been there of a slowdown but were largely ignored. The reason for this ignorance is the basis of this study. The crisis was driven by a need to compound on gains made, a need to amass assets that were being speculated to appreciate in value. Given the capital limitation enforced by the market dynamics, people had to borrow and banks, which are also the primary lenders had to lend for speculative purposes and had also to invest in these speculations. In any case, the banks were the first to participate in these speculative ventures. The result was an imbalance between the asset base and money borrowed by investments banks. At the end, the speculative ventures never bore the anticipated results and the banks were left indebted. People who had entrusted their hard earned money had lost their confidence on the very people who represented a chance of higher value. This ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Money , its for a History of economic thought class Essay”, n.d.)
Money , its for a History of economic thought class Essay. Retrieved from https://studentshare.org/history/1463984-money-its-for-a-history-of-economic-thought-class
(Money , Its for a History of Economic Thought Class Essay)
Money , Its for a History of Economic Thought Class Essay. https://studentshare.org/history/1463984-money-its-for-a-history-of-economic-thought-class.
“Money , Its for a History of Economic Thought Class Essay”, n.d. https://studentshare.org/history/1463984-money-its-for-a-history-of-economic-thought-class.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Strategic thought and its practice
...of the importance of inter-firm strategic decision-making is the development of an inter-firm competitive strategy. Unlike firms that are less dependent, firms that are more dependent do not necessarily prioritise the balancing of dependencies because they may jeopardize privileges that they cannot attain within a less asymmetric structure. This shows that strategic decisions at the inter-firm levels is more complex since it is hard to deal with the protected interest of some firms within the network. Conclusion Strategic thought and its practice is of great importance for any business that is aiming to thrive and profit from it its current and diverse socio, economic...
8 Pages(2000 words)Essay
Philosophy of Economic Thought
...?Philosophy of Economic Thought On many issues that pertain to their existence and survival, people are usually of different opinions. This of is not as unexpected because it is highly impossible for all persons to be of the same opinion always. Yet, it must be mentioned that, most times, adherents of certain schools of thought have a strong conviction about what they stand for. More so, as far as Keynes’s General Theory of Employment, Interest and Money is concerned, there are some topical issues on which many people may never agree. Thus, there is the need to establish the fact that even amongst professional analysts, there are really points of convergence. In spite of the fact that many of them had already dabbled... something to do with...
5 Pages(1250 words)Essay
Philosophy of Economic Thought
...throughout the duration of the evolution of her thought on the topic of heterodox economics. Key Assumptions The evolution of Dow’s thoughts on economics begins with the formation and establishment of key assumptions concerning the human condition and its relation to the study of economics. As a heterodox economist, Dow is, first and foremost, very aware and interested in the orthodox theories which provide the foundation upon which newer, more innovative methodologies in the field of economics come to pass. However, Dow’s study of these theories has given rise to the formation of certain assumptions concerning the...
13 Pages(3250 words)Essay
History of Economic Thought
...and immigration citing that this kills local industries and creates a deficit of labor. This same argument dominated during the mercantile error. At the peak of the 21st century, Asian counties took up hoarding of international reserves, a form of monetary mercantilism, so as to improve competitiveness (Lee 2006 p.3, 4 & 5). Bibliography: Eckes, A. E., 2009, U.S. Trade Issues: A Reference Handbook, New York: ABC-CLIO. Harris, J. G., 2004, Sick Economies: Drama, Mercantilism, and Disease in Shakespeare's England, Pennsylvania: University of Pennsylvania Press. Lee, J., 2006, Financial Versus Monetary Mercantilism, New York: International Monetary Fund. Murphy, R., 2010, Lessons for the Young Economist, London: Ludwig von Mises Institute....
5 Pages(1250 words)Term Paper
Economic class
...Douglass North organized the discussion on "why the united s economy developed" with the focus on issues of the expansion of income rather than its distribution and the social and political issues that such distribution gave rise to. North bases his model on historical and economic antecedents, which place central importance on the role of external trade in widening the market sector and increasing their productive efficiency. North laid emphasis on the price system and the responses to it by individuals and fitting the growing awareness of the historical importance of market forces in determining individual behavior. He broadened the induced responses to include the development of institutions, of social...
2 Pages(500 words)Essay
History of economic thought
...Economic Thought: History and Theories Introduction After the fall of the Roman empire, the so-called cradle of civilization, Europe begun to hammer its economy based on an order of priority that placed the towns at the center through activities in manufacturing, commerce and the arts. Agricultural production was relegated to the back burner as a secondary economic endeavor set for the whole country. The bottom-to-top idea of development was not without merit since it presumed that once the poorer hinterlands grew, the richer cities would follow. But this economic strategy soon fell into disfavor among the intelligentsia who...
12 Pages(3000 words)Essay
History of Social Thought
...previously attained.” (1975: 38) His famous Theory of Social Class maintains great significance in the history of social thought, which discusses the presence of different social classes in almost every human society. Karl Marl has pointed out the necessity of different social classes for the proper working and smooth running of the functions of all the social institutions and organizations. Before embarking upon the topic under study, it would be appropriate to define social class. Social class is the division of groups and individuals living in a social establishment on the basis of political status, financial...
7 Pages(1750 words)Essay
The history of money
...The History of Money It is economically wise for the United s to allow Canada to back up the dollar withthe gold-based reserve system because of the benefits inherent in such systems. To big with, the system uses a fixed asset to support the Dollar. Using this method, the United States will achieve economic stability. This is because the system allows a nation to regulate its funds properly. Second the system is very advantageous because it will control the process of printing dollars. The amount of gold in the United States reserve will direct the Federal Bank to print the correct figures of the dollars. This will discourage the bank from circulating...
1 Pages(250 words)Assignment
Development of Economic Thought
...Dobb thinks maximum growth should be the goal of the socialist economy? Dobb was basically a 20th century economist following Marxian political theories. Dobb in his famous book “the Development of Socialist Economic Thought” have discussed that according to the Marxist’s school of thought socialism is divided into two stages; categorized as a lower socialism stage and a higher socialism stage. The people or class belonging to lower socialism stage is those who solely depend on their income and this income comes as a part of their salary. They do not have any other source of income. But the other stage of higher socialism results in the unequal distribution of...
3 Pages(750 words)Assignment
ECON 5110 HISTORY OF ECONOMIC THOUGHT
... Assignment is due History of Economic Thought A) Marshall’s attention was mainly directed towards microeconomic problems but aggregative theme had a place in his thought. He perceived the major economic question as determination of general price level. He developed a general price level developed around a version of “quantity theory” of money (Barber 186). Marshall modified the existing procedure on this theory by shifting focus from rate of money turnover to an examination of money balances the community held. Marshalls cash balance approach was later to open up a fresh analytical horizon from one of his pupils (Barber 186). He maintained that the amount of money held was determined by institutional arrangements of the economy... and...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Money , its for a History of economic thought class for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us