Keynesian Economics For American Fiscal Policy - 2241 Words

Pragmatism reactionarily stems from the excesses of its past. The realization in United States politics that increasing government tax rates would not solve the economic malaise of high unemployment and rising inflation occurred in the late 1970s. Thus began a movement in the minority of economic thought suggesting the existence of a prudent alternative to the widely accepted theory of Keynesian economics for American fiscal policy. Though subtle at first, these ideas of supply-side economics gained traction quickly and reached the national stage with Ronald Reagan’s Inaugural address and promise to end the troubles of stagflation and begin the â€Å"[reawakening of] this industrial giant, to get government back within its means, and to†¦show more content†¦The crux of Ronald Reagan’s economic policy, the tax cuts, paved the road for success in the improvement of the economy. The promised effect of an increase in federal revenues and reduction in the cost of c apital for America’s private sector necessitated the lowering of marginal tax rates that occurred in Ronald Reagan’s first term. The embodiment of these reductions and much of the credit for the economic rebound of the mid 1980s can be assigned to the Kemp-Roth Tax Cut Act of 1981. Reagan’s trickle down economics strategy held underpinnings in his belief that the nation’s wealthiest individuals and captains of industry had been disincentivized to earn more money from the oppressive tax rates of his predecessors. Accordingly, Kemp-Roth cut the top tax rate from 70% to 50% as recognition of the disproportionate financial capability of the nation’s top earners to reintroduce prosperity. Additionally, Kemp-Roth provided benefits to the affluent by increasing the estate tax exemption from $175,000 to $600,000 and by increasing deductions therein to further circumvent the re-taxation of hereditary wealth. While Reagan entrusted the top tax bracket with t he responsibility of spending these funds as part of his plan to end the prolonged period of unemployment, Reagan also included provisions in the Kemp-Roth Tax Cut that affected all workers by removing

Compare and Contrast Functionalist and Marxist Theories of...

Compare and Contrast Functionalist and Marxist Theories of Stratification Stratification is the separation of society into layers which are distinguished by unequal rewards and life chances and many systems of stratification have been based on slavery, caste and feudalism. Slavery, being the oldest and most extreme form of stratification, involves the enslavement or ownership of others. This ownership came about as a result of conquest, trade, kidnapping, hereditary status or the repayment of a debt. The classic example of the caste system is based on the Hindu religion, where caste codes have to be obeyed before being reborn into a new, higher caste. Feudalism stems from medieval Europe where the ranking system of status groups, known†¦show more content†¦Where functionalism uses consensus, shared norms and values and concepts such as order, harmony, cohesion and integration, Marxism takes a different view. The Marxist perspective concentrates on the differences between groups and concepts such as control, conflict, power, domination and exploitation. This is the theory based on the work of Karl Marx (1818-1833) in close collaboration with Fredrick Engels (1820-1895) over a period of more than forty years. Karl Marx felt that social class was the main form of inequality and saw only two significant social classes. He maintained that it was capitalist industrialisation that led to this two class society, the bourgeoisie who owned the means of production (e.g. factories) and the proletariat who became the wage labourers (working in the factories). The history of all hitherto existing society is the history of class struggles. Freeman and slave, patrician and plebeian, lord and serf, guild-master and journeyman, in a word, oppressor and oppressed, stood in constant opposition to one another..... (Marx and Engels. 1848) He felt that the owners exploited and oppressed the workers and used force and ideology to suppress them. He also predicted economic changes that would ultimately cause class conflict. *Monopolization of capital (i.e. fewer people own more) *Homogenisation of the working class (skill differences disappear) *Pauperisation of workers (they get poorer) *Polarization ofShow MoreRelatedSocial Stratification According to Marx and Weber1163 Words   |  5 PagesSocial stratification is the hierarchical arrangement of individuals into divisions of power and wealth within a society. Social stratification relates to the socio-economic concept of class, consisting of the upper class, middle class, and lower class. Each class may be further subdivided into smaller classes through the main indicator is occupation. This is the most practical and most effective means of encompassing the wide variety of economic and social elements that go to make up a person’sRead MoreDiscuss Marxism and Functuionalism and Compare1133 Words   |  5 PagesCompare Marxist and Functionalist Perspectives Compare and Contrast Functionalist and Marxist Perspectives Sociology is a systematic way of studying the social world. It seeks to discover the causes and affects of intercommunication and interaction that arise in social relations. The science of society was developed as a discipline in the 19th Century by Auguste Compte, a French philosopher. For him, common sense and the obvious would not suffice; he wanted to build scientific theories basedRead MoreCompare and Contrast Any Two Sociological Theories and Briefly Evaluate Them.2079 Words   |  9 PagesCompare and contrast any two sociological theories and briefly evaluate them. In the following essay I am going to compare and contrast the theories of marxism and functionalism, looking at the topics of the family and education. Functionalism has a macro-structural approach to society. It looks at society as a whole and is known as a consensus perspective i.e. everyone agrees on social norms and values and people work together to maintain society. These norms and values are learned by socialRead MoreTheories of Education2587 Words   |  11 Pages------------------------------------------------- Compare and contrast Functionalist and Marxist theories of Education in Society. The role of education in society has an important effect on society by way of transmitting cultural values and contributing to the social stratification or class system. Functionalists also referred to as consensus theorists believe education helps stability and functioning of society, whereas conflict theorists namely the Marxists see education as justifying and promotingRead MoreCompare and Contrast Marxist and Weberian Theories of Stratification1525 Words   |  7 PagesQ: Compare and Contrast Marxist and Weberian Theories of Stratification. The purpose of this essay is to compare, contrast and critically evaluate Marxist and Weberian theories of stratification. To do this effectively this essay must explain and consider the main features, claims and perspectives of both Karl Marx and Max Weber. O’Donnell (1992) defines social stratification as â€Å"the division of a society or group into hierarchically ordered layers. Members of each layer are considered broadly equalRead MoreSociology of Education1597 Words   |  6 PagesSociology of Education This assignment will compare and contrast competing theoretical perspectives on education process. Functionalism, Marxism and interactionist theories will be included. The definition of education is that it is a process or the act of gaining or teaching general knowledge; it is an act that assists in the development of reasoning as well as judgement and generally preparing oneself or others the intellectuality for mature life. Functionalism in essence deduces each part ofRead MoreKarl Marx And Max Weber On Social Class2038 Words   |  9 PagesTo start of my essay I will compare and contrast between the two theories of Karl Marx and Max Weber on the topic of social class that will be discussed widely. The inequality between people is the basis of the democratic system, which is â€Å"a political system†. It is said that â€Å"those who have the skills and abilities to perform and produce will succeed in life.† But this belief is the assumption that all people are given equal opportunities and advantages. During the 19th century Karl Marx and MaxRead MoreSociology Essay20437 Words   |  82 PagesRelationships Unit 1.7 Social Policy and the Future of Families and Households Module 2 Education Unit 2.1 Introduction to the Sociology of Education Unit 2.2 Developments in Education from the 19th Century to 1997 Unit 2.3 Sociological Theories of Education Unit 2.4 Social Class and Educational Opportunity Unit 2.5 Gender and Educational Opportunity Unit 2.6 Ethnicity and Educational Opportunity Unit 2.7 Government Policy and Education Unit 2.8 Researching Education Module 3 SociologicalRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagestransformations in where humans lived, how they earned their livings, and their unprecedented ability to move about the globe. Moya and McKeown set the patterns of migration in the twentieth century against those extending back millennia, and they compare in imaginative ways the similarities and differences among diverse flows in different geographical areas and across ethnic communities and social strata. They consider not only the nature, volume, and direction of migrant movements motivated primarily

Relationship between a model and Similitude Free Essays

Relationship between a model and Similitude For a model, similitude is achieved when testing conditions are created such that the test results are applicable to the real design. There are some criteria that are required to achieve similitude; 1 . Geometric similarity – The model is the same shape as the application (they are usually scaled). We will write a custom essay sample on Relationship between a model and Similitude or any similar topic only for you Order Now 2. Kinematic similarity – Fluid flow of both the model and real application must undergo similar time rates of change motions. (Fluid streamlines are similar). 3. Dynamic similarity – Ratios of all forces acting on orresponding fluid particles and boundary surfaces in the two systems are constant.The application is analyzed in order to satisfy the conditions; 1 . All parameters required to describe the system are Identified using principles from continuum mechanics. 2. Dimensional analysis is used to express the system with as few Independent variables and as many dimensionless parameters as possible. 3. The values of the dimensionless parameters are held to be the same for both the scale model and application. This can be done because they are dimensionless and will ensure dynamic similitude between the model and the application. The resulting equations are used to derive scaling laws which dictate model testing conditions. However, it is often impossible to achieve strict similitude during a model test. The greater the departure from the application’s operating conditions, the more difficult achieving similitude is. Similitude is a term used widely in fracture mechanics relating to the strain life approach. Under given loading onditions the fatigue damage in an unnotched specimen is comparable to that of a notched specimen. Similitude suggests that the component fatigue life of the two objects will also be similar. One example that we can give here Is the. Pipe friction apparatus has been designed for students to measure pipe friction losses for laminar and turbulent flows. For laminar flow study, an elevated head tank Is used for water supply, whilst for turbulent flow; the supply is from the Hydraulics Bench using oses with rapid action hose coupling. Students may control the flow rate of water by adjusting the flow regulator valve. The test section is connected to manometers via pressure tapplngs. The purpose (objectives) doing this experiment are; Measurement of the pressure loss for laminar flow Measurement of the pressure loss for turbulent flow Determination of the critical Reynolds’ number Measurements using a tube manometer Measurements using a mercury U tube manometer Reynolds number in pipe friction Pressure drops seen for fully developed flow of fluids through pipes can be predicted 1 OF2 uslng tne Moody Olagram wnlcn plots tne Darcy-welsoacn Trlctlon Tactor T against Reynolds number Re and relative roughness. The diagram clearly shows the laminar, transition, and turbulent flow regimes as Reynolds number increases. The nature of pipe flow is strongly dependent on whether the flow is laminar or turbulent. using the Moody diagram which plots the Darcy-Weisbach friction factor f against Reynolds number Re and relative roughness . The diagram clearly shows the laminar, How to cite Relationship between a model and Similitude, Papers

Seven Steps to Project Planning free essay sample

Seven Steps of Project Planning April Willochell Project Management Every project is an opportunity to produce something new, to make a real difference. You can introduce change, increase productivity, enhance capabilities of your company or of a client or build new relationships. Seven steps are essential to success in organizations that simultaneously manage multiple initiatives. Effectiveness begins with good pre-project planning plus an understanding of what a project is and what can be at stake. Consistently following these seven key steps can directly improve a company’s operations, profitability and sanity. The first step is a setting goals phase. â€Å"During this stage the teams responsible for the project are assigned and a brief is provided containing information on what the project hopes to achieve and what approach will be taken to complete various actions required. Additionally, this stage usually leads to the appointed of a project manager and executive in charge who with the help of the team start to plan the next step. We will write a custom essay sample on Seven Steps to Project Planning or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page † (7 Steps, 2013) In this stage all stakeholders should state their needs and how they would like them to be fulfilled. Ultimately, this is the goal setting phase. The next step would be initiating the process. This means that a team would be assembled and the overall project is outlined to detailed specifications. This includes strategic planning, like how long the project will take, how many steps will take place, and what tools will be needed to execute the project. Deciding how the project will be controlled is the third step. This step is also called directing the project. This means that the organization that is controlling the project is defined. Also, all organizations within the company that will be involved are determined. This part of the planning process will determine who receives reports and makes final decisions in the planning process. â€Å"This step is about developing a Work Breakdown Structure (WBS) that identifies the low-level tasks and activities required for doing project work and producing the deliverables. The WBS is a critical piece of the project planning process because it defines how tasks will be structured and what dependencies will be created. It is also used for setting up urations, task assignments, resource requirements, and cost estimates. † (The Planning Process, 2013) The control stage is the fourth stage. â€Å"You must develop a project strategy that follows the mission and outlines the high-level actions for implementing the project objectives. You must develop a project strategy that follows the mission and outlines the high-level actions for implementing the project objectives. â⠂¬  (The Planning Process, 2013) This process will let the team know who will need to sign off for what processes in the project. This stage will also let the team know where potential problems may arise and if they do how they should be dealt with. This stage is very important in the planning process. The fifth stage of project planning is setting up boundaries for each stage of the project. This is basically setting up deadlines for each stage of the project. If a stage is not met, there also needs to be backup plan on how the plan will play out in this event. This stage also determines how each stage will close and the steps following that closing. â€Å"The penultimate stage is the management of product delivery. In this step the project manager works with team managers to ensure that a set of formal requirements are created for every piece of work contained in the project. Essentially if this is done correctly all of the work should be delivered on time and to a suitable standard. † (7 Steps, 2013) This sixth stage is to make sure that all paperwork is in order, the project and its product follow all regulations, and all parts are in working order. This is basically, a quality control stage. The seventh and final stage is the closing stage. This step is the risk management assessment part of the planning process. Project managers and their teams must identify all the risks in their project and discuss the alternatives. The plan will be reviewed, discussed, and any potential changes will be made. Once all seven steps are followed accurately a project plan should be planned perfectly and executed just as well. Resources 7 Steps to Project Planning. Retrieved on January 17, 2013 from http://EzineArticles. com/4767743 The Planning Process. Retrieved on January 18, 2013 from