Economic Stability Essay
The article "The Selfishness of the Unselfish" offers a concise observation from the liberal economists' perspective that those individuals and groups who lobby and advocate for policies and government regulation of run-away capitalism in the name of unselfishness are actually just as, if not more, "greedy" and "selfish" than the policies and institutions they claim to be fighting. The author, Boudreaux, describes a brief encounter he had with a woman, several years ago, who was actively involved in the city of Atlanta's historical-preservation movement and who vocally rebuked "greedy developers" for destroying or renovating older homes and destroying these homes' "historical integrity." The problem with this woman's argument, the author claims, is that, while she believes herself to be selfless, with the interest of preserving history and its dignity, she is actually being greedy by forcing her beliefs and opinions upon other people in the city, who may not be able to afford living in renovated, "historically accurate" housing. The author then goes on to describe a few instances where groups of individuals who claim to be watching over the good of society are actually advocating policies that benefit only some people at the expense of others. For example, environmentalists often vocally and passionately oppose what the author refers to as "capitalist greed." However, while the environmental policies might benefit the environmentalists, they do so at the expense of other consumers who might benefit from the greater supply of goods and services that would be available if there weren't any of these output-reducing policies. At the end of the article, the author warns against those who protest for greater government involvement in the economy who are unable to support their protests and demands with sound, logical, well-researched evidence and reason. Most of those people who are quickest to rile and pound their fists in protest do not take the time to discover if their stance is sound and reasonable. Boudreaux states that we all need to wary of "reformers" who may not realize the consequences of the policies they advocate.
"Human Creativity" is another article written by Boudreaux, its main point being that human creativity is the greatest resources we have and that, without human creativity, every single material and resources on this planet is rendered utterly useless and insignificant. It is only when we apply our creativity devise innovative methods of maximizing the potential of raw materials that resources that would otherwise be fruitless and unimportant become fantastic inventions of the human mind. Boudreaux refers to Leonard Read's essay, "I, Pencil," and briefly describes the immense amount of cooperation, knowledge, and detail that goes into making what we often take...
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Taxation and Political Stability Essay2234 words - 9 pages The proposed analysis: taxation and stability policy with a sample of 60 countries around the world during the period 2002 to 2008, helping to make distinctions between the political instability experienced but maintained high taxation, and those states with political stability but with a low taxation. The few variables that are used in the model, and its reduction to a two-way relationship is one of its merits, when compared with other models...
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A Brave New World: How to Save Humanity - The New or Old World?1026 words - 4 pages What would you be willing to pay for me to remove all your worries, sadness, and depression and replace it with unlimited contentment? Ah, I can just see your eyes begin to sparkle. Would you pay me a thousand, ten thousand, one hundred thousand dollars? How about your soul? It is a small price to pay for never-ending happiness. You accept? Great, welcome to "a brave new world" where you will be conditioned to accept all things happily and...
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Maintaining Price Stability1334 words - 5 pages Price Stability or low inflation plays a large part in both the economic and social well being of a country. "Inflation is basically described as the general increase in the prices of goods and services in an entire economy over time." (Financial Guide, 2007) Measured by the CPI, price stability has many causes, mainly divided into two categories, Demand-pull, caused by excess demand, and Cost-push resulting from lowering of supply. Price...
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The History of the European Monetary Union3624 words - 14 pages The European Monetary System (EMS) was an arrangement established in 1979 where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. In 1971, most of the EEC countries agreed in 1972 to maintain stable exchange rates by preventing exchange fluctuations of more than 2.25%. In March 1979, this system was replaced by the European Monetary System (EMU). (De Grauwe,...
The Euro1304 words - 5 pages The Euro The new international currency of the European Economic union, euro became the national currency on January 1 2002. In this union where only euro is valid as currency includes Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxemburg, Netherlands, Portugal and Spain and their national currencies will cease to exist. Before the euro formation, there existed the gold standard and the Bretton Woods system. Both...
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