Introduction Hyper Inflation Has Plagued Most Of The Worlds Developin

Introduction Hyper inflation has plagued most of the world's developing countries over the past decades. Countries in the industrialised world, too, have at times duelled with dangerously high inflation rates in the post WWII era. With varying degrees of success, all have employed great efforts to bring their inflation rates within acceptable limits. Generally, a moderate rate of inflation has been the ultimate goal. More recently, however, a few countries have pursued policies that strive to eradicate inflation altogether through complete price stability. This has proven to be a contentious enterprise, which clearly indicates that there is still no universally accepted solution to the inflation problem. Indeed, there is not even an agreed consensus regarding the source of inflation itself. The monetarist perception that the root of inflation is solely the excessive creation of money remains. So too does the belief that inflation originates in the labour market. And amongst a variety of others, the opinion that inflation "serves the critical social purpose of resolving incompatible demands by different groups" is also strong. This last, and more widely accepted, case shows that the problem is hardly a technical one; but rather a political one. It highlights the now unquestionable fact that politics and inflation are inextricably linked. And as with all inherently political issues, consensus is difficult, if not impossible, to achieve. But, political characteristics do provide flexibility. In some countries, high rates of inflation have clearly been compatible with rapid economic growth and fast rising standards of living. In such cases, it is quite reasonable to suggest that higher rates of inflation are acceptable--perhaps even necessary. In this setting, it is by no means clear that pursing a policy to stop moderate inflation is either required, or in the best interests of the mass of the population at all. While inflation guarantees that some will gain at th e expense of others, the redistributions of income and wealth which do take place can, on normal value grounds, be quite desirable. In other circumstances, it may be quite desirable to place strict controls on inflation, or strive to keep it at ?zero' level. Policies aimed at virtual price stability have been in use by central banks in Europe, New Zealand, and Canada over the past few years. Such policies have been particularly focused in Canada. As noted by Pierre Fortin, "the only objective the Bank of Canada has pursued since 1989 has been to establish and maintain the inflation rate at ?zero level', which it sees as a CPI inflation rate that is clearly below two percent" (italic added). To the surprise of many, it has been incredibly successful, achieving its objective several years before schedule. Although separated by only a few percentage points, Canada's policy is a sharp contrast to the moderate and balanced approach used in the U.S. "Since 1989 the Federal Reserve has bee n satisfied with achieving an inflation rate of around 3 percent. In setting the interest rate, it has continued to pay explicit attention to real economic growth and employment, with the result that the U.S. unemployment rate is currently in the 5 to 6 percent range." Based on this statistic alone, it can be argued that the more moderate U.S. approach has enjoyed greater success than the deflation oriented policy pursued by the Bank of Canada: Canada continues to be burdened with a higher rate of unemployment. Yet, it continues to believe that the unemployment costs of low inflation are ?transitory and small' . The directors of most European Central Banks also continue to support this dogma. Clearly, the credibility of the "classical idea that the Phillips trade off between inflation and unemployment disappears in the long run" is still very high throughout the world. But, in Canada, as in most of Europe, the waiting continues. This is not to suggest that the waiting game has been silent and entirely pleasant. Indeed, the relative lack (or lag!) of success of zero inflation policies and strict price controls has spurred much heated debate. As a case in point, more people are curious why Canada has exclusively focused on inflation cutting and turned a blind eye to the more balanced, and arguably more successful, approach adopted by the

The Future of Early Education Importance of Preschool

The Future of Early Education Importance of Preschool Did you know that  Forbes.com reports that the Department of Education has awarded almost $250 million in an effort to ensure that development of early education programs, preschool, continue to best serve children from low- and moderate-income families? This is one example of the Presidents long-standing plan to offer free, universal pre-school for these families. However, President Trumps latest budget for 2019 education appears to be reducing funding   for schools. As we know, in President Obamas 2013 State of the Union address he unveiled his plan for universal Pre-K or pre-kindergarten education for four-year-olds. His plan would guarantee kids whose household income is at or below 200% of the poverty line a free pre-K education with local schools and local partners, and their teachers would have the same training as K-12 teachers. In addition, the programs would offer many of the benefits of private school pre-kindergarten programs, including small class sizes, high adult-to-child ratios, and assessment of the programs provided. The program would also expand the number of full-day kindergarten programs available. Unease in Regards to the Future of Early Childhood Education However, despite these advancements, there is unease as a result of the new leadership of our nation coming; many people are unsure about the future of early childhood programs. Betsy DeVos has been chosen by President Donald Trump to take on the role of Education Secretary, and her position on pre-school funding is not clear; the same can be said for the President. As a result, there are some who are uncomfortable with the uncertainty, and the latest budget developments are not alieviating fears.   Why Pre-Kindergarten is So Important While many private schools offer high-quality pre-kindergarten programs and full-day kindergartens, providing enriching educational opportunities for children under age 6, many children who attend public schools, particularly children living in poverty, do not have access to these programs. According to the National Institute for Early Education Research (NIEER) in New Brunswick, New Jersey, 28% of 4-year-olds were enrolled in a pre-kindergarten program in the 2011-2012 school year, which represents an increase over the 14% of four-year-olds who did so in 2002. Yet, pre-kindergarten programs are critical to children’s long-term success, and experts at NIEER have documented that children who have been enrolled in high-quality pre-kindergarten programs enter kindergarten with better vocabularies and more advanced pre-reading and math skills than children who don’t have access to these programs. Kids enrolled in pre-k programs aren’t just learning how to recognize letters and numbers; they are also learning critical social skills and the importance of working independently in the classroom. Through high-quality pre-k programs, they develop the confidence to take on more advanced classroom work. Many children struggle with social skills and behavioral problems in kindergarten, and many children are even kicked out of kindergarten. Pre-kindergarten programs are essential in teaching kids the social skills they need for later grades, not just the academic skills. Pre-K Benefits Last a Lifetime The benefits of pre-kindergarten education last well beyond kindergarten. According to research conducted by NIEER, there are amazing long-term economic benefits from early childhood education for children in poverty. For example, life-time earnings of some children increase by hundreds of thousands of dollars, and the economics benefits of these programs outweigh the costs by a factor of up to 16 (in some programs). In addition, such programs show that participants have lower crime rates and decreased rates of welfare dependence as adults, so the benefits of early childhood education can last a lifetime. According to the White House Fact Sheet on Obama’s educational plan, children from low-income families are less likely to have access to pre-kindergarten programs, and middle-class families also struggle to afford private pre-school programs, yet these programs are critical to children’s long-term school success. Children from low-income families who are not reading at grade level by third grade are six times less likely to graduate from high school. According to the Fact Sheet from the White House, only 60% of American children have access to full-day kindergarten programs, yet these programs are also essential to teaching children skills critical skills for later academic success. Pre-kindergarten programs are a promising way to reduce adult poverty in this country and to provide the essential skills workers need as adults. Working with at-risk children in the primary or middle school years may be too late, and while private schools offer high-quality pre-school and early education programs, research studies have documented the need to expand these programs to state-funded programs across the country. Article updated by Stacy Jagodowski

LOU Survey Essay Example | Topics and Well Written Essays - 500 words

LOU Survey - Essay Example n; Level III – state of mechanical use; Level IV A – state of routine; Level IV B – state of refinement; Level V – state of integration; Level VI – state of renewal. The behavior of the majority of the users or specific groups of users will dictate the decision of the organization on the terms of intervention, planning and preparation for the technology or technologies that they will have to adopt. Orr and Mrazek (2008) have used the LoU along with Stages of Concern (CoN) to assess the â€Å"professional growth of among the professionals pursuing graduate course work in educational technology† (p. 2) at the University of Lethbridge in Alberta, Canada. What they did was to formulate statements that describe the level of their use or the extent of their confidence with respect to their manner of using technologies instead of just labeling the choices with numbers similar to a Likert scale. This was deemed much better since the respondents will not be biased in their answers. Examples of the statements used in their study are as follows: I really don’t know anything about this technology, or am not sure that it would be useful for my classes – to reflect level 0; I am collaborating with colleagues to develop ways in which we can use this technology to better meet our common objectives for our classes – to reflect level V; and finally I still use this technology, but I am exploring other technologies to replace it that will better meet the objectives for my classes – to reflect level VI. The interpretation of the data gathered from this survey is a simple computation of the mean, median and standard deviation of the responses of the respondents. The data gathered will of course reflect the common technologies being used by the respondents and what they do not know how to use or what they don’t use. This will somehow provide insight on what technologies they need to be trained on and the possible technologies that would be practically fit for

International Financial institution and markets Essay

International Financial institution and markets - Essay Example The report seeks to identify various factors which are considered as of advantage as well as of disadvantage for the UK to enter into such an agreement of currency union. It also deals with whether the Euro could substitute the US dollar as the major currency in the global market. 2 Euro is considered to be a currency that is widely used by the European Union Institutions and it is said to be the official currency for euro zone. Euro zone comprises 18 member states out of the 28 member states that is said to constitute the European Union such as Spain, Slovenia, Netherlands, Malta, Portugal, Luxembourg, Greece, Germany, France, Finland, Estonia to name a few. There are also other five European countries that use the currency Euro and as a consequence is said to be used by 334 million Europeans currently. Moreover it is considered that 210 million people across the universe including 182 million from Africa use currencies that are said to be pegged to the currency euro. Euro is considered to be the second largest reserve currency in the globe after the US dollar. It is also considered as the second most traded currency in the universe after the US dollar. Euro is considered to be a single currency arrangement which came into force between members of European Uni on in the year 1999. The implication of a single currency is that there are no different national monetary policies. In this regard, the Central Bank of Europe was set up which used to conduct wide monetary policy and also sets the interest rates in Europe. This resulted into a loss of different national monetary policies, exchange rates, and interest rates. In this regard, the intention of Germany to introduce an economic policy to fight against unemployment is considered as very difficult as this role can only be played by the European Central Bank. There are numerous advantages to sector of financial services with regard to Britain joining the Euro. In the absence of floating exchange rate, the relative

Mountain Due Case Essay Example for Free

Mountain Due Case Essay What changes in the environment provided the opportunity for the Dewmocracy approach? The opportunities that created the environment was a new wave of marketing normal TV ads and news papers and magazines were not being as affective. So with the millennium wave, dewmocracy starting using internet and especially social media such as blogs, twitter, facebook, MySpace etc. Mountain Dew decided to focus on the customers they already had and harnesses their passion for mountain dew. Which of the promotional elements described in Figure 17-2 were used by Mountain Dew in its Dewmocracy 2 campaign? Explain your answer. The promotional elements that were used in the Dewmocracy 2 campaign are advertising, sales promotion and direct marketing. The reason why I say advertising because mountain dew is trying to reach the mass which is efficient for a large amounts of people. Every time they market a product they advertise. It was also sales promotion because the campaign very flexible and for the mass. The customers felt comfortable in their social media and online on the dewocracy websites chatting. It was also direct marketing because it was used over the computer and people were creating mountain dew twitter accounts to vote for their favorite drink. Also making videos of testing things which goes to the customization part the customer was able to choose the drink that they thought was the best. #3 What are some of the different ways Mountain Dew can assess the success of its campaign? Be specific using information you have learned from the textbook. Note that the Grade Center on Blackboard has these cases listed. Mountain Dew can definitely asses the success of their campaign first just by looking at their market sales. Using their variable cost, fixed cost and so forth. Also they can assess their success by the market testing they did they went by they went by the new product process which increased their chances of doing well which they did.

Victorian Social Reform in Britain :: European Europe History

Victorian Social Reform in Britain When considering the changes brought about in the social policy of Great Britain, in the decades immediately either side of 1900, one must look at the nation `s industrial history. The position as the world` s premier industrial nation had been cemented by the mid nineteenth century, achieved in part, as it was the first nation to industrialise. However, the headlong embrace of laissez- faire capitalism ignored the social infrastructure, and the emigration from the depressed agricultural areas to the industrial areas caused immense strain on the poorly-planned towns and cities. At the dawn of industrialisation, there were those who expressed concern about the health and hygiene of the dense industrial areas, notably Freidrich Engels, whose study of Manchester and London in 1844 collated in "Conditions of The Working Class in England" painted a truly dismal picture of urban squalor and hopelessness. " Such is the Old Town of Manchester, and on re-reading my description, I am forced to admit that instead of being exaggerated, it is far from black enough to convey a true impression of the filth, ruin, and uninhabitableness, the defiance of all considerations of cleanliness, ventilation, and health which characterise the construction of this single district, containing at least twenty to thirty thousand inhabitants. And such a district exists in the heart of the second city of England, the first manufacturing city of the world. If any one wishes to see in how little space a human being can move, how little air - and such air! - he can breathe, how little of civilisation he may share and yet live, it is only necessary to travel hither." (Engels.F. 1844 p.84 ) The publication, in 1842, of the" Report on the Sanitary Condition of the Labouring Population of Great Britain" elicited, and perhaps foresaw, the protests of disbelief. Edwin Chadwick was responsible for the report and also invoked the image of the "unknown country" as Henry Mayhew later did to bring to public attention the abysmal conditions with which the labouring poor had to contend. His principal concern appeared to be with "the miasma" emanating from decaying matter "the poisonous exhalations" which were the source of their physical, moral and mental deterioration. At the height of the cholera epidemic, the flushing of the sewers in order to dissipate the miasma, actually aggravated the problem by further contamination of the water supply, in the face of the advice which stated that the disease was spread by germs and infection.

Challenges faced by Uk economy

Erosion's growth forecast at 0. 8%, next year 1. 3% Global growth expected at 3. 3%, next year 3. 8%, both still termed too optimistic by MIFF, despite revising it the 2nd time this year Auk's expected growth rate 2. -3. 1%, revised from 3. 8%. 2013-14 growth was 1. 7exports. 6% growth, revision from 2. 2%. All above fgfiguresre for 2014-15 fiscal The dilemma Economy growing despite loans reducing. Shows bad state of manufacturing sector, not good in long run Key interest rates can't be increased as unemployment still hihighlandacan'te reduced as it will increase inflation Real Growth The nominal figures may fool many, so we show the growth in Real GDGAPince the start of 2013, the I-JKJconomy has experienced positive economic growth – one of the elelatedlyest performances in Europe.However, Real GDGAPs still fractionally below its pre-crisis peak of 2007. The recovery has been stronger in the service sector than manufacturing and industrial output. There are fears the I-JKJec overy is still unbalanced – relying on government spending, service sector and ultra-loose monetary policy. 0AAndhat it might worsen once the key interest rates are increased Real GDGAPs not yet back to the pre-crisis level. The fgfigureshown by us are as per the data currently available in the public domain.And so, it is worth bearing in mind that sometimes economic growth statistics get evbeviest a later stage. 0 Factors affecting growth Self-explanatory Challenges Unemployment Define and introduce the problem on your own. Explain the diagram Reasons Recession – causing cyclical, demand deficient unemployment. With falling real GDGAPfirms are producing less and therefore, there is less demand for workers. Also in a recession, some firms go out of business causing people to lose their Jobs. Structural factors. There is structural unemployment due to the fast changing nature of the economy.For example, manufacturing Jobs have been lost due to the economy becoming more service sector based. Some unemployed workers have found it difficult to get Jobs in new high tech industries because they lack the relevant skills. Problems Increases relative poverty in the UK. (Unemployment benefits are substantially lower than average wages). Unemployment is particularly stressful, causing alienation and reduced living standards. Budgetary cost. Persistently high unemployment adds to the budget deficit. The government have to spend more on benefits, and they receive lower taxes.If unemployment falls, it will be much easier to tackle the budget deficit. In August 2014, Public sector net debt (PSSANDx) was El ,432. biBillion77. 4% of GDGAPIn the short term, government debt is less pressing than the government have claimed. Since 2010, they have given indication that reducing debt levels are the most pressing economic problem. Because of debt, the government have pursued austerity leading to lower growth. I feel the government unnecessarily panicked over debt. Neve rtheless, long term spending commitments and long-term debt forecasts are a problem.With an ageing population and perhaps lower growth rates, it could be difficult to finance long-term spending commitments from current tax levels. Debt is a long-term problem rather than short-term. Reasons 2008-13 recession (lower tax receipts, higher spending on unemployment benefits). The recession particularly hit stamp duty (falling house prices) income tax and lower corporation tax. Financial bailout of Northern Rock, RBORBSLlLloydnd other banks. Interest Payments. The cost of paying interest on the government's debt is very high.In 2011 Debt interest payments were E4EYEillion a year (esest.3% of GDGAP Public sector debt interest payments will be the 4th highest department after social security, health and education. Debt interest payments could rise close to E7Beeniven the forecast rise in national debt. Higher Taxes / lower spending in the future. Crowding out of private sector investment / s pending. The structural deficit will only get worse as an ageing population places greater strain on the UKAuk'sension liabilities. (demographic time bomb) Potential negative impact on exchange rate.Potential of rising interest rates as markets become more reluctant to lend to the I-JKJovernment. Inflation CPICPnflation rate: 1. 5% (expected) Inflation is currently a relatively minor problem because it has fallen to be within the ovoverpayment'sarget. However, with rising energy prices, it could resume its upward trend in the coming months. This cost-push inflation is a problem because with low nominal wage growth, many could see a fall in living standards (causing an increase in fuel poverty). Also, savers may be adversely affected because interest rates are low.Reasons Rising energy prices Low real wages Fall in living standards Increased poverty Current Account Deficit The deterioration in the UK current account is a cause for some concern because it is occurring in a recession. Usually a recession leads to lower imports and an mpimprovementn the current account. This deterioration in the current account suggests the I-JKJould have declining international competitiveness, though it may also be a temporary situation related to EuRezonerisis. Reasons Overvalued exchange rates. Countries in the EuRezonehich became uncompetitive (e. . Greece, Portugal and Spain) experienced large current account deficits. This is imports are cheaper. This encourages domestic consumers to buy imports. It also makes it hard for exporters because they are relatively uncompetitive. High Consumer Spending. If there is rapid growth in consumer spending, then there tends to be an increase in imports causing a deterioration in the current account. For example, in the 19sassoom, we saw a fall in the savings rate and a rise in I-JKJonsumer spending; this caused a record current account deficit.The recession of 1991 caused an improvement in the current account as import spending fell. Unb alanced Economy. An economy focused on consumer spending rather than investment and exports will tend to have a bigger current account deficit. Competitiveness. Related to the exchange rate is the general competitiveness of irrimsIf there is a decline in relative competitiveness, e. g.GriRisingage costs, industrial unrest, poor quality goods – then it is harder to export causing a deterioration in the current account.Recommended Solutions Reduce consumer spending – through tight fiscal and tight monetary policy. E. g.GhiHigherncome tax will reduce disposable income and therefore reduce spending on imports (however, it will also lead to lower economic growth) Supply side policies to improve competitiveness Devaluation of the exchange rate. This makes exports cheaper and imports more expensive Poor lalaborroductivity LaLaborroductivity measures the output per worker in a period of time. LaLaborroductivity is an important factor in determining the productive potential of the economy.Reasons LaLaboroarding. (When firms hold onto workers). Unemployment has risen by a smaller amount in the '08-'12 recession – compared to previous recessions in 1981 and 1991, and now unemployment has fallen to 6. 2% . This could support the theory that firms are preferring to hang onto workers, despite lower demand. Firms may feel this prevents having to rehire and retrain workers after the recession ends. Though he length of this current recession makes this surprising, and it's uncertain why it's happening in 2008-12 more than previous recessions. Low levels of investment.The credit crunch has held back investment because firms struggle to gain finance or don't have the confidence to invest in new capital. This could hold back lalaborroductivity growth. Falling real wages. During the recession, the I-JKJas seen falls in real wage growth. If real wages are lower, firms may be more willing to employ lalaborather than capital. In other words low wage growth means lalabors relatively more attractive than usual. Therefore with lower lalaborosts, firms are willing to employ more workers and lalaborntensive production methods.Lower output Lower wages – With falling productivity, firms cannot afford wage increases. This is leading to depressed income tax receipts for the government. Lack of Infrastructure Investment The recession has seen a fall in public sector investment. This threatens long-term there are also concerns over other supply side problems, such as inflexible lalaborarkets and lack of vocational skills. External Factors Many of the I-JKJroblems are due to domestic factors: low spending, low investment, egactiveutput gap. However, because the I-JKJelies on trade with other countries, especially Europe, external factors are a potential problem.