If the gold standard was in use today, would it hinder economic growth Essay Example for Free

If the gold standard was in use today, would it hinder economic growth Essay The gold standard refers to a monetary system in which the unit of account of money will be fixed with the weight of gold. There are many people who argue that the gold standard should be implemented to bring down the inflation. By fixing the supply of money with gold, the government will not be able to issue money without having gold in reserve. However, on the other hand, there are experts who argue that by fixing the supply of money with gold, economic growth will be hindered as the amount of gold available on Earth is limited (Mises, 2009). This paper will show that the gold standard will hinder economic growth. I’ll firstly argue that there is a limited amount of gold in this world. Secondly, economic growth is seen as limited. Lastly, the amount of commerce will eventually reach a level equal to the gold holdings by the central bank of the country. Economic growth will be hindered if the gold standard is applied as there is a finite amount of gold in the world. Economic growth requires that there should be sufficient liquidity in the system. By adhering to the gold standard, economic growth will be hindered as to supply more money, the government will first need to buy gold. (Skousen, 1997) Secondly, economic growth is seen to be unlimited. This doesn’t complement with the gold standard, as the amount of gold is limited in the world. If economic growth is to be unlimited, then there must be enough money supply to finance it. The gold standard makes to difficult for governments to issue money, which in fact limits economic growth. (Cagan, 1982) Lastly, if the value of the dollar is limited by the amount of gold, then amount of commerce would reach a level equal to the gold holdings. In order for more money to be issued, the government would have to purchase more gold to back the increase in dollars issued. All the three points written above are influenced by the single factor that the supply is limited, while the demand for gold seems to be unlimited. (Cagan, 1982) Another problem with the gold standard is how to determine what weight of gold will equal to one unit of account. Furthermore, the gold standard can be suicidal for developing economies. Developing economies will need to buy gold to finance their economic growth, which might already be to expensive to buy for them. Currently, these economies are able to finance it through a budget deficit. Moreover, how will the gold standard be able to handle the speed and complexity of today’s financial transactions? Lastly, if the world shifts to a gold standard, then all the governments will need to burn huge amount of fiat money to make sure that the money supply equals to the amount of gold in the economy. Eichengreen Marc, 1997) In conclusion, I believe that although by adhering to the gold standard the level of inflation will come down. However, the economic growth of a country will be hinder. The major reason for this is the limited supply of gold. Furthermore, if the gold standard is implemented the prices of gold will shoot up, making it more difficult for developing economies to grow up. Last ly, the government will need to burn huge amounts of fiat money to make sure that the there is no extra money in the economy.

How Much Does It Cost to Save? Essay -- Economics Employment Jobs Essa

How Much Does It Cost to Save? The impact of software development offshore outsourcing has many economic and social impacts. Economically, India is thriving with GDP growth accelerating exponentially including having the potential to achieve double-digit growth.1 Meanwhile, in the United States, the numbers relating to developer jobs are quite the opposite. Most figures suggest that by 2015, roughly 3.3 million business-processing jobs will have moved abroad. As of July 2003, around 400,000 jobs already had.2 Socially, job loss has many strong emotional implications. Job loss due to cost cutting measures coupled with the dot-com layoffs in Silicon Valley conveys an outlook for finding a technical position quite bleak. In addition, changing jobs is stressful, let alone moving into a project management position that now appears to be a position a US engineer must look into. In India, although there is significant momentum to put their trained technical skills to use, the temporal logistics of the situation force many Indian engineers to work during the night time. The economic benefits are seen, but at what cost on a personal basis? With such facts, one can argue for both sides of the economics and social impacts of outsourcing. The context must apply internationally, particularly in the United States and India. When viewed at this level, the economics suggest that the outsourcing moves are indeed overall beneficial. The social impact, however, is not so supportive and an ethical analysis shows that when these factors are taken into account, the suggestion that the economic benefits outweigh all the costs is not necessarily the case. Economics The immediate negative economic impacts in the United States about o... ..., 2002 (back) CNet News, M.B.A.s scout for scarce tech jobs, 2003, CNC, 8 Jan., 2003, http://news.com.com/2100-1017_3-979734.html?tag=st_rn (back) Techs Unite, Washington Could Be First State to Ban Offshoring, 2004, TUC, 3 Feb. 2004 http://www.techsunite.org/news/040203_ban.cfm (back) TUC, Washington Could Be First State to Ban Offshoring, 2004 (back) Wired News, Tech Chiefs Defend Overseas Jobs, 2004, WNC, 7 Jan. 2004 http://www.wired.com/news/business/0,1367,61825,00.html (back) Call Centers India, Call Centers in India, , CCI, date unknown http://www.callcentersindia.com/displaynews.php?idnews=4 (back) Stanford University, Rethinking Migration, 2001, SU, 1 Jan. 2001 http://www.stanford.edu/~aneesh/NewFiles/Rethinking%20Migration.pdf (back) SU, Rethinking Migration, 2001 (back) RAJ, India Winning Higher-Status Jobs in U.S., 2003 (back)

Family, its meaning, important and functions Essay

Family, what is it? The Thesaurus dictionary defines family as â€Å"a primary social group consisting of parents and their offspring. † Dcitionary. com defines family as â€Å"any group of persons closely related by blood, as parents, children, uncles, aunts, and cousins. † Do you agree with it? What is your concept of family? For me, family has more to do with the emotional side because someone might have been adopted, might be an exchange student but still is part of the family. Two years ago, I was an exchange student. I lived in Snellville, Georgia with the Head family. I wasn’t related to them by blood, I was not even adopted (meaning that I didn’t have their middle nor last name) but that didn’t stop me from feeling like I was a part of the family. There I learned a new concept of what family is and what the functions of the family are. The functions of the family are giving material and emotional security to the ones you love, social placement, and socialization besides regulation of sexual activity through the incest taboo (meaning that there shouldn’t have sexual relationship or marriage between certain kin). Between all the things I learned that were functions of the family, one seems to me the most important, emotional and material security because those are the base of a good and happy family, once the others can change. Due to career changes, a lot of families now-a-days move quite often, thus every time you move you have to once again adapt yourself to the new habits of the place you are and start to socialize, going through the whole social path again (meeting the people, getting to know there culture, showing them your culture and adapting yourself to the new). I admit that this path it is not easy but if you have material and emotional security you’ll go through it easier. For me it was a bit different because I didn’t have my â€Å"blood family† with me but they were supporting me every way they could. Even without them, it wasn’t hard to adapt myself to the American culture because I also had my American family with me. Whenever I had difficulty with something in the American culture I had my American family to help me to understand the new concepts and also to show me some other new things; and whenever I need help in accepting the new cultural values, my Brazilian family (even far from me) were supporting me and showing me that all the values they taught me when I was younger were now going to be used because, sometimes you don’t need to like the new but you always have to respect it. My family taught me that the love, affection and companionship family members have for each other are bigger than any other feelings someone can have and that is what makes a family, that’s what makes family such an important concept in everyone lives.

An Overview of the USS Massachusetts

In 1936, as the design of the North Carolina-class was being finalized, the US Navys General Board met to converse regarding the two battleships that were to be funded in Fiscal Year 1938.  Though the Board preferred building two additional North Carolinas, Chief of Naval Operations Admiral William H. Standley opted to pursue a new design.  As a result, the construction of these battleships was delayed to FY1939 as naval architects commenced work in March 1937.  While the first two ships were officially ordered on April 4, 1938, the second pair of vessels was added two months later under the  Deficiency Authorization which passed due to rising international tensions.  Though the escalator clause of the Second London Naval Treaty had been invoked allowing the new design to mount 16 guns, Congress required that the battleships stay within the 35,000-ton limit set by the earlier Washington Naval Treaty. In designing the new South Dakota-class, naval architects created a wide array of plans for consideration.  A principal challenge proved to be finding ways to improve upon the North Carolina-class while staying within the tonnage limit.  The answer was the design of a shorter, by approximately 50 feet, battleship that incorporated an inclined armor system.  This offered better underwater protection than earlier vessels.  As naval leaders called for vessels capable of 27 knots, designers sought a way to obtain this despite the reduced hull length.  This was achieved through the creative layout of machinery, boilers, and turbines.  For armament, the South Dakotas equaled the North Carolinas in mounting nine Mark 6 16 guns in three triple turrets with a secondary battery of twenty dual-purpose 5 guns.  These weapons were supplemented by an extensive and constantly changing complement of anti-aircraft guns.   Assigned to Bethlehem Steels Fore River Shipyard, the third ship of the class, USS Massachusetts (BB-59), was laid down on July 20, 1939.  Construction on the battleship advanced and it entered the water on September 23, 1941, with Frances Adams, wife of former Secretary of the Navy Charles Francis Adams III, serving as sponsor.  As work moved towards completion, the US entered World War II after the Japanese attack on Pearl Harbor on December 7, 1941.  Commissioned on May 12, 1942, Massachusetts joined the fleet with Captain Francis E.M. Whiting in command.   Atlantic Operations Conducting shakedown operations and training during the summer of 1942, Massachusetts departed American waters that fall to join Rear Admiral Henry K. Hewitts forces which were gathering for the Operation Torch landings in North Africa.  Arriving off the Moroccan coast, the battleship, heavy cruisers USS Tuscaloosa and USS Wichita, and four destroyers took part in the Naval Battle of Casablanca on November 8.  In the course of the fighting, Massachusetts engaged Vichy French shore batteries as well as the incomplete battleship Jean Bart.  Pounding targets with its 16 guns, the battleship disabled its French counterpart as well as struck enemy destroyers and a light cruiser.  In return, it sustained two hits from shore fire but received only minor damage.  Four days after the battle, Massachusetts departed for the US to prepare for redeployment to the Pacific. To the Pacific Transiting the Panama Canal, Massachusetts arrived at Noumà ©a, New Caledonia on March 4, 1943.  Operating in the Solomon Islands through the summer, the battleship supported Allied operations ashore and protected convoy lanes from Japanese forces.  In November, Massachusetts screened American carriers as they mounted raids in the Gilbert Islands in support of the landings on Tarawa and Makin.  After attacking Nauru on December 8, it aided in the assault on Kwajalein the following month.  After supporting the landings on February 1, Massachusetts joined what would become Rear Admiral Marc A. Mitschers Fast Carrier Task Force for raids against the Japanese base at Truk.  On February 21-22, the battleship helped defend the carriers from Japanese aircraft as the carriers attacked targets in the Marianas. Shifting south in April, Massachusetts covered the Allied landings at Hollandia, New Guinea before screening another strike against Truk.  After shelling Ponape on May 1, the battleship departed the South Pacific for an overhaul at Puget Sound Naval Shipyard.  This work was completed later that summer and Massachusetts rejoined the fleet in August.  Departing the Marshall Islands in early October, it screened American carriers during raids against Okinawa and Formosa before moving to cover General Douglas MacArthurs landings on Leyte in the Philippines.  Continuing to protect Mitschers carriers during the resulting Battle of Leyte Gulf, Massachusetts also served in Task Force 34 which was detached at one point to aid American forces off Samar. Final Campaigns Following a brief respite at Ulithi, Massachusetts and the carriers returned to action on December 14 when raids were mounted against Manila.  Four days later, the battleship and its consorts were forced to weather Typhoon Cobra.  The storm saw Massachusetts lose two of its floatplanes as well as one sailor injured.  Beginning on December 30, attacks were made on Formosa before the carriers shifted their attention to supporting Allied landings in Lingayen Gulf on Luzon.  As January progressed, Massachusetts protected the carriers as they struck French Indochina, Hong Kong, Formosa, and Okinawa.  Beginning on February 10, it shifted north to cover raids against mainland Japan and in support of the invasion of Iwo Jima.  Ã‚  Ã‚  Ã‚  Ã‚   In late March, Massachusetts arrived off Okinawa and commenced bombarding targets in preparation for landings on April 1.  Remaining in the area through April, it covered the carriers while fighting off intense Japanese air attacks.  After a short period away, ​Massachusetts returned to Okinawa in June and survived a second typhoon.  Raiding north with the carriers a month later, the battleship conducted several shore bombardments of the Japanese mainland beginning on July 14 with attacks against Kamaishi.  Continuing these operations, Massachusetts was in Japanese waters when hostilities ended on August 15.  Ordered to Puget Sound for an overhaul, the battleship departed on September 1. Later Career   Leaving the yard on January 28, 1946, Massachusetts briefly operated along the West Coast until receiving orders for Hampton Roads.  Passing through the Panama Canal, the battleship arrived in the Chesapeake Bay on April 22.  Decommissioned on March 27, 1947, Massachusetts moved into the Atlantic Reserve Fleet.  It remained in this status until June 8, 1965, when it was transferred to the Massachusetts Memorial Committee for use as a museum ship.  Taken to Fall River, MA, Massachusetts continues to be operated as a museum and memorial to the states World War II veterans.