The Phillips Curve Essay - 1316 Words

The Phillips Curve Economists agree that unemployment and inflation are two of the major macroeconomic problems of the twentieth century. If a relationship between the two existed then this would be a major break through for the macro management of the economy. Phillips work was empirical - started with evidence and worked towards a theory. The causation for the Phillips theory was that the level of unemployment caused the rate of change in money wages to be what it was. What economic theory lies behind this? As unemployment decreases the available pull of labour goes down. This means that resources become increasingly scarce and workers can push for higher wage rates. Or as unemployment decreases more people have more†¦show more content†¦They held that it was the governments duty to achieve the correct level of demand by manipulating its own spending and tax receipts, or in other words, to have an active fiscal policy. This policy required the government to spend more than it received if the economy had less than full employment. As a consequence, aggregate demand would rise through a multiplier effect and unemployment would fall. The inflation controversy - Demand-Pull or Cost-Push? Keynesian economists were divided into two camps. Some believed that inflation was caused by too much demand for goods and services, or excess demand i.e. Demand Pull Inflation. Such economists were very enthusiastic about the Phillips curve because it seemed to provide strong evidence for their views. The second camp of Keynesian economists believed that inflation was caused by cost pressures arising from high wage settlements gained by strong trade unions and from increases in import prices i.e. Cost Push Inflation. They were doubtful about the usefulness of the Phillips curve. On the Nicholas Perry evidence of the Phillips curve they thought that wage inflation and unemployment could be traded off against each other, that policy makers could decide to have a bit less unemployment in exchange for accepting a bit more wage inflation or vice versa. The Phillips curve helped the demand pull Keynesians in another way as in order to manage the levelShow MoreRelatedPhillips Curve : A Relationship Between The Inflation Rate And The Unemployment Rate Essay3200 Words   |  13 Pages Name: Instructor: Course: Date: Phillips curve The Phillips curve history and overview The Phillips curve represents a relationship between the inflation rate and the unemployment rate. The Phillips curve is named after its first exponent A.H.W. Phillips who was a classical economist who first came up with this relationship. He posited that the lower the employment rate firms are forced to source for funds so as to increase wages and be able to attract labour. This in turns leads to a rise inRead MorePhillips Curve Essay1198 Words   |  5 PagesPrinciple 10 of Mankiw and Taylor’s Ten Principles of Economics: The Phillips curve shows the relationship between unemployment and inflation in an economy. Unemployment involves people who are registered as able, available and willing to work at the going wage rate but who cannot find work despite actively searching for work. Unemployment can be counted by using the claimant count which includes all those who are unemployed and actually claiming benefit in the form of Jobseekers AllowanceRead MoreDeveloped Countries and Economically Developed Countries Essay examples927 Words   |  4 Pagesvarious approaches to achieve the same objective. Hogan (1998) said that exist a negative relationship between this two variable in a short run. The low of unemployment rate in United State has increased the inflation rate. Using the estimation of Phillips Curves model that has apply in the research, his conclude that the non-accelerating inflation rate of unemployment (NAIRU) may be decreased a little bit. Besides, nowadays inflation in United States cause d the cost of import decreased due to the appreciationRead MoreThe Positive Relationship Between Inflation And Inflation1067 Words   |  5 Pagesestablish this comparison in a short-run period of time, it will be beneficial to use the Phillip Curve. This curve can be used as a tool to represent the positive relationship between inflation and unemployment in the short-run. In order to comprehend the positive relationship between inflation and unemployment first, we must know what inflation is, how we define unemployment, and how we can use the Phillip Curve to make a functional comparison of these two variables. Moreover, it will be very beneficialRead MoreTheories Of Growth And Growth Models2257 Words   |  10 Pagesdetermined as a given premium over a fixed average subsistence level of wages in the traditional agricultural sector. At the constant urban wage, the supply curve of rural labour to the modern sector is considered to be perfectly elastic Todaro and Stephen (2011). 2.3 Review of Related Literature There exists a vast body of literature on the Phillips Curve. Research studies on the topic began appearing as early as in the 1960s. Samuelson and Solow (1960) examined the relationship between unemployment andRead MoreThe Phillips Curve : The Epitome Of Antiquity Essay1384 Words   |  6 PagesMichael Liotti and Brian Levine Professor Predescu MA 235-H01 Final Project The Phillips Curve: The Epitome of Antiquity Abstract In this paper, we will present a model discussed at length in Todorova (2012) representing the Phillips curve, the textbook macroeconomic relationship posting a negative relationship between unemployment and inflation. Specifically, the model posits that when unemployed workers are scarce, employers must compete with one another for the remaining, qualified workersRead MoreEconomics Natural Rate of Unemployment2526 Words   |  11 Pagesstable over time. Philip’s Curve The Phillips curve represents the relationship between the rate of inflation and the unemployment rate. Although he had precursors, A. W. H. Phillips’s study of wage inflation and unemployment in the United Kingdom from 1861 to 1957 is a milestone in the development of macroeconomics. Phillips found a consistent inverse relationship: when unemployment was high, wages increased slowly; when unemployment was low, wages rose rapidly. Phillips conjectured that the lowerRead MoreGrowth Theories Of Growth And Growth Models2256 Words   |  10 Pagesdetermined as a given premium over a fixed average subsistence level of wages in the traditional agricultural sector. At the constant urban wage, the supply curve of rural labour to the modern sector is considered to be perfectly elastic Todaro and Stephen (2011). 2.3 Review of Related Literature There exists a vast body of literature on the Phillips Curve. Research studies on the topic began appearing as early as in the 1960s. Samuelson and Solow (1960) examined the relationship between unemployment andRead MoreRelationship Between Unemployment And Inflation1947 Words   |  8 Pages1991-2014. Model specification Model specification The study will use the time series data. This study investigates the relationship between unemployment and inflation in Namibia depending on the formulation provided by Blanchard (2005). The Phillips curve can be expressed in the following format: ï  °_t-Ï€_t^e=ÃŽ ²_1 (U_t-U_(NR ) )+ e_t (6) Whereï  °_t: The actual inflation rate at time t. Ï€_t^e: The expected inflation rate at time t. U_t: The actual unemployment rate prevailing at time t. U_(NRRead MoreThe Triangular Phillips Curve Model Essay2275 Words   |  10 PagesThe triangular Phillips Curve which was proposed by Gordon (1996) states that the factors cause inflation can be summarized as demand pull, cost push and inflation inertia. Similarly, Gal and Gertler (1999) construct the a kind of hybrid New Keynesian Phillips Curve model and claim that the main factors that affect inflation are the excess aggregate demand, inflation expectation and inflation inertia. In reality, the determinants of inflation are very complex, and the most common four mechanisms

The States Policy On Gambling - 1416 Words

Before discussing what the states policy on gambling should be, one must first become familiar with the definition of gambling. Gambling is defined as â€Å"the activity or practice of playing at a game of chance for money or other stakes†. When people hear the word gambling, casinos, lotteries, and online gambling websites are what is most often thought of, however, these are not the only types of gambling. People can gamble throughout a variety of fashions, such as virtual gambling on tablets or smartphones, scratch cards, and sports betting, and as stated in the definition, does not always have to be for money. Often people gamble without even realizing that they are gambling, and many start off at such a young age. In varying forms, the†¦show more content†¦One major concern with gambling is the cause of problem gambling. Problem gambling is defined as â€Å"a progressive disorder characterized by a continuous or periodic loss of control over gambling; a preoccup ation with gambling and with obtaining money with which to gamble; irrational thinking; and a continuation of the behaviour despite adverse consequences.† When one hears about the effects of problem gambling, and thinking about how easy it is for someone to develop problem gambling, they might often want the state to create laws that make gambling illegal. However, there have been many studies conducted on those individuals who do partake in gambling, and how many of those individuals who suffer from problem gambling as an effect of gambling do not in fact suffer from this. In Jonathan Wolff’s book Ethics and Public Policy: A Philosophical inquiry, a study conducted in the UK in 2000 and 2007, show that problem gambling had not increased as a percentage of gamblers, staying below one percent. The study that was conducted in 2007, includes online gambling, whereas the one conducted in the year 2000 does not. Nowadays, with the easy access to internet, online gambling has become more and more popular around the world, as people have the ability to gamble from anywhere they want. ThatShow MoreRelatedThe State s Gambling Policy Essay2044 Words   |  9 PagesThe state is of, by, and for the people. This implies that the state is in the best interest of the people, so it s main priority should be to provide liberty for its citizens, while at the same time protecting them from foreseeable harm. In this essay I argue that the state’s gambling policy should be a proactive one, that is, the state should do as much as it can to prevent problem gambling before it happens, while also preserving individual freedom. To first develop a state policy for gamblingRead MoreWhat Should The State s Policy Be On Gambling?2136 Words   |  9 Pagesshould the state’s policy be on gambling? It is hard to walk away from a winning streak, and even harder to leave the table when you are on a losing one. Gambling, the activity of playing a game of chance for money or other stakes, is one of mankind’s oldest activities. Built upon the false pre-tenses that taking risks will consistently be remunerated, gambling has evolved throughout the years and still remains, engrained within the daily lives of many. Over the years the gambling industry has steadilyRead MoreGambling Is The Largest And Most Financially Significant Entertainment Industry1460 Words   |  6 PagesGambling is Canada’s largest and most financially significant entertainment industry. The world of gambling is not limited to solely the casino. It has a presence everywhere, even innocently, from video games to Wal-Mart arcade games. In the adult world there are various types of gambling, ranging from horse racing to scratch lotto cards. One could argue that gambling is a regular part of life. We h ave become almost desensitized to it because it is so apparent in our world today. Gambling is consideredRead MoreThe Gambling Boom Of San Francisco1141 Words   |  5 Pagesof quick draw disputes over card games in San Francisco as the city had a reputation for fair games. In fact, the gambling establishments of San Francisco had an air of refinement as the card dealers were required to wear professionally attire. Also, San Francisco was one of the first cities in the west to feature female card dealers. According to the Annals of San Francisco: â€Å"Gambling was the essential amusement -- the grand occupation of many classes. Judges and clergymen, physicians and advocatesRead MoreEssay on Harmful Effects of Legalized Gambling1644 Words   |  7 PagesEffects of Legalized Gambling Gambling is prominent in todays society. This can be seen especially through politics. Everywhere voters are electing people to office who are pro gambling. William Thompson of the University of Nevada (1994) describes politicians by stating, Its part of the American landscape, theyll trade morality for dollars (1). In North and South Carolina, for example, the last governor election showed that the people were for legal gambling by voting in governorsRead MoreShould Internet Gambling Be Illegal?1191 Words   |  5 PagesGambling in the United States has become more than a pastime in casinos because the internet has been adapted to include online gambling. Also, gambling previously has been exclusive to adults; yet, more and more teenagers are participating in the worldwide phenomenon of fantasy sports. Personally, I have never found gambling appealing because I think that it is a waste of time and money. As it is, gambling has become a problem and will continue to grow unl ess something is changed. There are numerousRead MoreGambling Outline Essay912 Words   |  4 PagesNick Cortese Research Outline Gambling Thesis: Gambling in society has detrimental effects to people in United States. Topic: I. There are certain types of gambling that people should be aware of. A. Gambling is any bet you make that involves chance, a stake, and there is a pay-off. â€Å"Here is the definition of gamble – to play at any game of chance for stakes, to bet on an uncertain outcome† (Brown). â€Å"The following three elements must be present for somethingRead MoreShould Sports Be Legalized?978 Words   |  4 PagesSome jobs would also be created if online gambling was legalized. Many of the existing online gambling sites would move their operations to the United States, while other sites would be newly created in here. The jobs created would range from computer programmers to customer service jobs (Rousu). Our economy is always looking for new jobs to decrease the unemployment rate. This is a great way to lower unemployment and increase the economy at the same time. In Canada, the provinces experience additionalRead MoreShort History of Gambling in the United States of America and Comparison of Gambling Criteria935 Words   |  4 PagesShort History of Gambling in the United States of America According to the Commission on the Review of National Policy toward Gambling, gambling in the United States grossed over $40 billion dollars in 1995 (Dunstan, 1997). Professor I. Nelson Rose describes three waves of gambling during the history of the colonies and the United States. The first of these waves began during the start of this great nation and lasted until the mid-1800s. The second wave was at the end of our Civil War and lastedRead MoreShould Marijuana Be Legalized?1156 Words   |  5 PagesMarijuana Should Not be Legalized As we know, support for marijuana legalization has been increasing in the United States in recent years and several U.S. states have legalized recreational or medical use. But it is correct to legalize the marijuana? Would marijuana harm human beings? Is it addictive? According to this research paper, the conclusion is that marijuana should not be legalized. Marijuana, also known as cannabis and by numerous other names, is a preparation of the cannabis plant intended

Critical Discourse Analysis Nursing

Question: Describe about the Critical Discourse Analysis for Nursing. Answer: Exercise 1 The old man must be suffering from obstructive sleep apnea and excessive day sleep disorder. The condition can occur at any age group however the risk is more in older and overweight people and people with family history of sleep apnea. Men have more chance of sleep apnea than women. Obstructive sleep apnea occurs when throat muscles are unable to keep the airway open. It causes low blood oxygen level and may lead to hypertension, heart disease, memory problems and risk of drowsy driving. Excessive sleepiness may also result in the possibility of idiopathic hypersomnia. Excessive sleepiness is cured by stimulant medications. People idiopathic hypersomnia should sleep more than normal people while using medications. Sleep study helps to diagnose sleep apnea. It monitors eye movement, respiratory effort, airflow, blood oxygen level, muscle activity and heart rate. Severity is determined by this study. Continuous positive airway pressure (CPAP) mask is given to the severe patient. It blows air gently into the airway to keep it open during sleeping. Other treatment options include the use of dental appliances which reposition the lower jaw and tongue, upper airway surgery to remove tissue in the airway and using hypoglossal nerve stimulation. It monitors breathing patterns and stimulates the hypoglossal nerve to move the tongue to maintain the airway. I would recommend the client to make some lifestyle changes for improving symptoms of sleep apnea. To reduce the severity, the patient should try to lose weight, avoid alcohol; quick smoking and they should lie on sides instead of their backs(Sleepfoundation.org, 2016) Exercise 2: This teaching plan contains details on sexually transmitted disease (STD), and it will educate older adults about its symptoms, effect, treatment and prevention. The incidence of the sexually transmitted disease is increasing every year. This infection is spread through sexual contact and is caused by bacteria, parasite and viruses. The common type of STD includes HIV/AIDS, Gonorrhea, syphilis and many others. In the case of HIV/AIDS, 28% older population above 50 is living with AIDS. It is important to teach older people about reducing the number of individuals getting the infection and how it benefits the whole community. People above age 50 have same risk factors as young people, but they are not aware it. This is because they have diagnosed late and so there treatment also becomes delayed. They also suffer more immune system damages. It can lead to poor prognosis and shorter survival after HIV diagnosis (Milaszewski et al., 2012). To prevent a late diagnosis of disease, older people should monitor their symptoms and do not confuse it with normal ageing symptoms. Many older people are sexually active and lack knowledge about HIV and how to prevent transmission. To reduce the number of incidences, following action needs to be taken: Increase surveillance among older people and maximize HIV prevention methods. Older people should be made aware of ways to prevent themselves and others from infection. They needed to be educated about HIV and discouraged to do any activity that lets HIV infected fluid (blood, semen, vaginal secretion and breast milk) to enter into a person body. Since older people may be sexually active, they should be taught to use a condom every time they have sex to prevent HIV transmission. Those who are at high risk should use combination drug Emtricitabine-Tenofovir (Truvada) to reduce the possibility of transmission. The Older patient should tell their partners if they have HIV and should be aware of their HIV status. People should always be cautious when using needles for injecting drugs, and they should check that it is sterile and unused. Screening for HIV should be encouraged in all age groups (Cahill Valadz, 2013) Exercise 3 Something's Gotta Give movie was a romantic comedy film directed by Nacy Meyers in 2003. It stars Jack Nicholson as a 60-year-old man Diane Keaton, 50-year women who fell in love with each other in a later part of their life. The older people sexuality in this movie is accurately depicted. Jack Nicholson as Harry Sanborn in the film had a habit of dating younger women. His latest muse was Marin Klein, and he took her to her mother's house. But there Marin Kleins mother Erica played by Diane Keaton was present. A strange situation arises when both Erica and Harry clashed into each other initially but eventually developed liking for each other. But both of them struggled to express their relationship because Harry was dating Erica's daughter and the doctor Julian had fallen for Erica. But the adult relationship ultimately began when Marin decided to break up with Marin. So Harry and Erica finally consummate their relationship, but he had to leave Erica's place after her health improved . But tragic situation arises when Erica finds Harry with another woman in the party. Heartbroken, Erica decides to depict her life story in play. Her play was highly successful, and Harry repented for his activities, and they united in the end (Jermyn McCabe, 2013). Therefore the characters in the movie revealed their sexual interest and active sexual life in that age. It had two old characters entangled in a love relationship. The character of Harry showed that sex does not die when people become old. Some people are very active in a relationship during that age too. The characters of the movie had effectively portrayed adult love and sexuality. Harry's sexual interest was seen by his changing partners. He was also about to consummate his relationship for the first time with Marin. But Erica came in and was terrified to see her daughter dating and old man. The character, however, changed with time. Harry now develops liking for Erica as he felt she was a woman of substance. Erica also opens up with him, and she felt her life to be much better with him. The sex scne between the central characters also showed how moved they were as they both cried. The movie gave the idea that older people are also romantic, and adult sexuality was incredibly dep icted in the movie (Gatling et al., 2014). Reference Cahill, S., Valadz, R. (2013). Growing older with HIV/AIDS: New public health challenges.American Journal of Public Health,103(3), e7-e15. Gatling, M., Mills, J., Lindsay, D. (2014). Representations of middle age in comedy film: A critical discourse analysis.The Qualitative Report,19(12), 1. How is Sleep Apnea Treated?. (2016).Sleepfoundation.org. Retrieved 26 June 2016, from https://sleepfoundation.org/sleep-disorders-problems/sleep-apnea-treatment/page/0/1 Jermyn, D., McCabe, J. (2013). Sea of love: place, desire and the beaches of romantic comedy.Continuum,27(5), 603-616. Milaszewski, D., Greto, E., Klochkov, T., FullerThomson, E. (2012). A systematic review of education for the prevention of HIV/AIDS among older adults.Journal of evidence-based social work,9(3), 213-230.