Free

Economy or goberment related - Personal Statement Example

Comments (0) Cite this document
Summary
In the work the author traces the development of Economics through an assessment of the manner in which the field has taken over the newspapers throughout the years. This…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.5% of users find it useful
Economy or goberment related
Read TextPreview

Extract of sample "Economy or goberment related"

HOW ECONOMISTS CAME TO DOMINATE THE CONVERSATION How Economists Came to Dominatethe Conversation
Summary
In the article, Wolfers (2015) traces the roots of economist and its development throughout the years. In the work the author traces the development of Economics through an assessment of the manner in which the field has taken over the newspapers throughout the years. This advancement slowly led to the weakening of arts such as Psychology, Sociology and even Anthropology since the fields were seen not to be of great importance to the society (Wolfers, 2015). With the help of graphical representation, the author clearly traces the roots of the different fields from 1860s to 2014. One can clearly see how Economics has overtaken all other fields.
Wolfers (2015) gives an explanation of the development in question by arguing that the Great Depression was the major reason why Economics took over. The government needed to devise a way that would relieve the country from the economic strains that it had gone through. The economist came in handy. Major focus and importance was given to Economics as it gave answers to the existing problems as opposed to Psychology or even Anthropology (Wolfers, 2015).
In the work, the author also explains that Economists are also consulted in numerous fields today, including fields that touch on social issues (Wolfers, 2015). This explains why Economics has become a major for many students, as the field is extremely marketable in the job market. The popularity of the field is also expected to increase with the years.
Reaction
From Wolfers’ (2015) work, I agree that the field of economics has taken over the field of Social Sciences. In the present society, it is evident that a huge percentage of articles, even in the archives, mention concepts related to economists. The number of articles on Psychology, Sociology and other arts are reducing by the day. This explains the extent in which the world is shifting towards an economic turn.
Wolfers (2015) also explains that the rise of economy began in the 1980s to date. This can be linked to the Great Depression that caused massive impacts on the economy of the country. After the catastrophe, the government opted to come up with stringent measures that would prevent such an occurrence (Wolfers, 2015). This explains the great interest in economics. I agree with the author’s sentiments as the government was obligated to come up with measures that would see to a stable economy.
The historians that had taken up a huge share of the market had no place, and were slowly overtaken (Wolfers, 2015). I believe the economists were justified. No government would risk yet another economic downturn especially after adverse effects on the first depression. I do not think the US had any other alternative.
Though Sociology would have been higher in rating, since it would have offered a chance for creation of proper policies, it still takes a lower ranking. Economists are even been consulted in Sociology and Psychology issues. A good example is issues affecting the youth (Wolfers, 2015). This explains how careful the government is, in dealing with its issues.
Reference
Wolfers, J. (2015). How Economists Came to Dominate the Conversation. The New York Times, 23th January, 2015. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Economy or goberment related Personal Statement Example | Topics and Well Written Essays - 500 words”, n.d.)
Economy or goberment related Personal Statement Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/social-science/1678549-economy-or-goberment-related
(Economy or Goberment Related Personal Statement Example | Topics and Well Written Essays - 500 Words)
Economy or Goberment Related Personal Statement Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/social-science/1678549-economy-or-goberment-related.
“Economy or Goberment Related Personal Statement Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/social-science/1678549-economy-or-goberment-related.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Economy or goberment related

Economy

...to the pre-1940 era mainly due to the Second World War given the enhanced demand for labor to fuel the war economy. Besides, the war also resulted in numerous vacancies in fields traditionally dominated by males who had to fight in the war, leaving these positions to be filled by Women. In fact, the LFPR between 1940 and 1945 jumped from 28% to over 36% as a consequence. Overall, the authors conclude that occupational segregation continues to exist and is primary reflected by the disparities in wages. While traditionally disadvantaged groups such as females have been gaining momentum in educational attainment and professional qualifications, they still lag behind males over wage increases and job opportunities. This...
3 Pages(750 words)Essay

Economy

...mothers seem to be worst off in terms of both income and social support both when on welfare and even on return to work. Clearly there needs to be more horizontal equity encouraged here. The chapter concludes with a discussion on policies to assist couples in employment, flexible work schedules and working from home (Blau et al, 340-342). Chapter 12 of the book deals with gender differences in other countries. It starts with the status of the world’s women. Employment rates can vary due to the state of the economy- whether it is agrarian, semi- or post- industrialized. Culture, religion and gender roles may also affect employment opportunities for women. Demand and supply for labour can also vary because of economic...
3 Pages(750 words)Essay

Economy

...?Economy Introduction Economics, the knowledge of generation, use, and transfer of wealth, is an essential element to every society. This is majorly because availability of resources is essential to meeting different needs, both social and entrepreneurial. While microeconomic concepts affect individuals or small groups of people and can be controlled at such levels, macroeconomic elements are felt at national levels and are influenced by national and international policies. This further identifies political factors to economics. This paper addresses Mr. Romney, the Republican presidential candidate, on what he should do with the economy, by identifying major economic problems facing the United States and...
3 Pages(750 words)Essay

Economy

... American Bison Into what category of goods does the bison fit? The American bison falls under the common resources category of goods. This is because the American bison fulfills the differentiating criteria of rivalry and non-excludability (Kang and Zhou 136). Any good that falls in the category of common resources has to meet these two characteristics, where rivalry indicates that the consumption of goods by an individual precludes its consumption by other individuals, since the unit consumed is no longer available. The second qualification for a commodity into the category of common resource is non-excludability, whereby it should not be possible to exclude a person from the consumption of such goods (Hochenberry 152... American Bison Into ...
3 Pages(750 words)Essay

Economy

...forecasts how much the nominal rate must be changed by the central in order to divert from the targeted inflation rate, the actual GDP and also from the potential GDP(HETZEL, 2000). This rule has more attraction than the “Inflation targeting” because it takes into account the deviation from the actual equilibrium level such as from full employment and the inflation rate which has an overall better effect on the economy. The Taylor rule also allows the interest rate to react with the variation in the output gap. Therefore the reaction in the output gap is the reaction in the nominal interest rate. This allows the central bank to observe the output gap for targeting the inflation policies(Inflation Targeting vs Taylor...
4 Pages(1000 words)Essay

Anything related to today's economy

...Statistics Para 4). Discussion Enterprenuers in different economic systems integrate the available resources, technology and labor to produce and distribute goods and services from the producer to the end user. Organization of different economic elements is reflected in the country's policies and culture. The American economy is a “mixed economy” because the government together with the private sector are instrumental in making economic related decisions. Although the government allows free enterprenuership, it has a primary responsibility of administering justice, infrastructure, defense and education to its citizens. It also controls natural monopolies and the price system. Moreover,...
5 Pages(1250 words)Term Paper

Economy

...? Economy Contents Contents 2 Summary of the article 3 Analysis of the article and identification of linkage with the economic concepts 4 Economic challenges faced by the economy and rationale for the economic policy (ies) chosen by the government to overcome the challenges 6 Limitations of economic policy of the government 7 Findings and analysis 8 References 11 Summary of the article The economic article is about the health of the economy of UK in recent period of time. The article mentioned that UK avoided its third recession by registering a growth of 0.3% in the first quarter of 2013. This growth in the economy was observed after a flat performance over the last 18 months. The marginal growth in the economy of UK has been due... to the...
8 Pages(2000 words)Essay

Economy

...Economy INTRODUCTION According to Dornbusch (2004), “macroeconomics is concerned with the behaviour of the economy as a whole” (Dornbusch 2-17). Thus, it can be asserted that macro economy deals with long-terms economic growth and short-term fluctuations in a business cycle. In simple words, it can be define as a branch of economics, which assists in measuring the performance, behavior and structure of an economy as a whole. It helps in forecasting gross domestic product (GDP) of a nation (Hubbard1-29). THESIS STATEMENT In this discussion, the main objective is to critically evaluate the distribution between wages and profit in relation to consumption in...
4 Pages(1000 words)Essay

Find Wikipedia links related to Global economy

...Lecturer Essay # Global Economy Economy of Africa http en.wikipedia.org/wiki/Economy_of_Africa Being one of the poorest and densely populated continents of the world, Africa’s economy is of great interest to many. With a population of 1.1billion, Africa has been identified as the poorest inhabited continent. I am interested in understanding Africa’s economic outlook as well as the future prospects. Although Wikipedia has provided some information on Africa’s history, current conditions and the major economic sectors, this information is not complete and comprehensive. For instance, this article does not explain the role of ICT in driving Africa’s economy. Therefore,...
1 Pages(250 words)Assignment

Ecosystems in South West Australia

6 Pages(1500 words)Assignment
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 Personal Statement on topic Economy or goberment related for FREE!

Contact Us