Collapse paper Essay Example | Topics and Well Written Essays - 1250 words

Collapse paper - Essay Example Economic history of the United States of America extends over a period of less than two and half centuries. Over the course of this period, the US economy had multiple series of progress and problems. The United States has grown from an alliance of thirteen British colonies with distinct economies and institutions to the unified state which nowadays accounts for more than fifth of the world economy ("Economic history of the US"). US economy today is based on three major elements. The first element is its natural resources. The continent of the United States has rich mineral resources and favorable terrain, as well as mild climate conditions. It also has broad access to the ocean and corresponding transportation routes, encompassing the coastlines of both the Atlantic and Pacific Oceans, as well as that of the Gulf of Mexico. Additional shipping routes are ensured by a host of rivers crossing the country and the Great Lakes along the border with Canada. These extensive transportation channels endorsed the economic growth of the USA, especially at early stages, and played a significant role in uniting America's 50 individual states into a full-fledged economic unit ("Economy of the United States"). The second ingredient is its human resources. USA has the third largest population in the world, which was estimated to be ca 295 mil people in July 2005 (CIA). The labor force is one of the major factor of economic growth and therefore prosperity of the country. On the other hand, country's citizens are also its biggest asset. Their welfare should be one the top of government's priorities list. Good environmental conditions and balanced habitats are essential to the welfare and health of the people, which makes environmental regulation extremely significant. The third element is industrial production and investments. USA is a home to corporations, which are complex organization governed by extensive set of rules and owned by stockholders. Boosted by the advent of mass production corporations like General Electric have been crucial in shaping the country. Using stock exchanges and financial markets American investors and banks managed to substantially increase their capital investing and withdrawing funds from profitable corporations. In the current era of globalization US investors and corporations have even larger influence on the world than ever before. ("Economic history of the US") It is essential to know these because above described components are vital in making the economy of the United States prosper. Therefore, it is imperative that the US government initiate regulation in order to preserve these valuable resources. Some regulations and policies that control these resources, however, are at times being overlooked not only by private corporations but the US government itself. Some private corporations in the USA abuse the use of natural resources, which leads to the destruction of the environment and increase in pollution, both harmful to human beings. The government, on the other hand, sometimes disregards these issues and even makes some initiatives to accelerate the economy at the expense of environmental deterioration. One of the recurring problems faced by the US government is energy. The government has been constantly seeking for appropriate means to regulate the use of energy and find new energy sources. US government has been extensively seeking for such sources as oil, nuclear

The level of unemployment in United Kindgdom Coursework

The level of unemployment in United Kindgdom - Coursework Example Increased unemployment in a country shows that a country does not use its resources appropriately. It carries momentous social costs in that, unemployed people must habitually depend on benefits for income from other people. Besides, the sense of boredom rejection and failure of being unemployed brings a lot of social consequences to their lives. Recent studies have constantly linked unemployment to deterioration of health and rising suicide and crime rates. The causes of unemployment are diverse and economists differentiate a number of types: structural unemployment is caused by changes in the labor market or the economy. This is the failure of available jobs to fit workforce skills; frictional unemployment is the occurrence of people being amid jobs; cyclical unemployment is caused by the vagaries of cycles in the business; and seasonal jobs are caused by different seasonal jobs e.g. construction and farm work (Bassanini and Duval, 2009). Background The history of UK unemployment i s central to social and economic history of the country. As a result of post war boom, 1950s and some parts of 1960s saw very low rates of unemployment going to as low as three percent. This was far- off much lower compared to other years and this has made a number of hypotheses to be put forward to account for this unique time in the history of labor market. The servicemen who were in the far front had been promised full employment if they won in the Second World War. The government was not prepared to break this pledge. The record quantities of exports and imports went through docks in London when the reconstruction endeavor was in full dangle. The skilled labor was enthusiastically recruited from the countries forming commonwealth to help in building of hospitals, schools and houses in London. Growing prosperity brought a new boldness to young generations in London who was looking to America for models f music and other behaviors. In around 1958, the growing western community of India in Notting Hill was attacked by rampaging youth gangs. This was disaffected infantile delinquents that became a problem to Londoners. The manufacturing companies flourished very much in 1950s especially the ones that were making consumer goods such as radios, televisions and washing machines. The offices in London increased white collar jobs bringing a boom of over 50,000 jobs. By the, the services went up to 51 % of London’s economy while manufacturing accounting for 42 % (UK unemployment, 2011). The office jobs benefited women very much outnumbering men in for the first time ever (Kalachek and Westebbe, 1961). Unemployment in (%) 1950 1.5 1955 1.1 1960 1.6 1965 2.6 1970 4.1 1975 4.5 1980 6.8 1985 6.4 1990 7.1 1995 8.6 2000 5.4 2005 4.9 2009 5.8 2010 8.1 2011 7.9 Source: Kalachek and Westebbe, (1961), Bell D., Blanchflower G. (2008) and Nickel S., Nunziala L. (2005) Technological progress, the achievement of Keynesian economics, steady international trade environment a nd constancy of the Phillip curve (which postulated an affiliation amid high inflation and reduced unemployment) brought a situation of full employment approach. Before this, the preponderance of the women lingered in the category of the people who were economically inactive. The economic prevailing attitude of the detonation years collapsed in late 1960s and early 1970s. The energy crises of 1973 as well as 1979 created stagflation, rising unemployment, and rising inflation. This is something that reckoned impossible using Phillip