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Economics Paper Writing Sample



Economics topic choices: The Nature of Economics, Scarcity and the World of Trade-Offs, Demand and Supply, Public Spending and Public Choice, The Macro economy Unemployment, Inflations and Deflation, Measuring the Economy~~s Performance, Global Economic Growth and Development, Real GDP and the Price Level in the Long Run, Classical and Keynesian Macro Analyses, Fiscal Policy


The nature of economics
The nature of economics discusses the distinction between macroeconomics and microeconomics. It also discusses the elements of an economic theory and model. Economics has ultimate relationship with consumer behavior; it works parallel to consumer choices as if they start demanding any commodities then its prices would hike up. It is economics, which highlights the importance of mass production conception, selective production, and market based production concepts.


Scarcity and world trade off
Scarcity is inability to generate satisfaction as of poor availability of resources. It is common thinking among economists that everything is getting scarce day by day. Individuals haven’t been changing their preferences and selection criteria. Price increase of product is one good example of scarcity as one product get scarce then its price is to be hiked up to manage the demand mechanism.
Trade off is a situation that involves losing one quality or aspect of something in return for gaining another. People don’t embrace new features if old ones have been satisfying their needs in better way. This welcomes to scarcity conception. Such consumer behavior always causes price increase in commodities. Eventually, consumers have to pay little more to fulfill such needs.


Demand and supply
Demand has reverse relationship with supply, if demand increases then supply will be in less amount. Similarly, less supply of products become the reason of the increase in demand. Eventually, increase in demand causes prices to be hiked. Customers have to pay off a bit more to satisfy same needs, which used to be satisfied by paying less in older days. For instance, petroleum prices have been continuously increasing up as of fewer supplies of petroleum products. International petrol markets have been deliberately using this fundamental concept.





This ditochomy is not true



In most that talk about selfishness and altruism, theirs has been assumption that selfishness and altruism are polar opposites. According to those discussions to do moral thing always mean being an altruists. The moral action of the altruists is not influenced by self-interest decisions but is influenced by morally accepted decisions. Conversely selfish act is to prevent or to make impossible for a good to happen which may have been morally implicated.However this view was criticized by descriptive theory of egoism, Feinberg and psychological by arguing that moral deeds are sometimes leads to compromising self needs for other causes.


This ditochomy is not true


It is necessary to note that those who do altruistic acts are always aware of the topic and they do the topics that they feel comfortable with and that they fully identifies with. For instance, for the risk of my life I decided to support a government that will advocate for a democratic, stable and peaceful country. The big question is that what is the reason behind my selfless act and what good will I gain? In this case I will gain security in terms of physical and health securities. Also the elements of identity will rise in. That is whenever people see me they will see me as a democratic person. The point therefore is that a person’s self-identity expands beyond a person’s self interest in a very narrow sense, therefore allowing for situations where selfish action becomes a moral one. In the example above to argue that the sacrifice I have made is to achieve altruism is contradictory. Democracy is highly central in protecting myself interest and is more painful for me to give it up. Altruism and selfishness ceases to exist as mutually exclusive acts.
Assuming that there exist dichotomy between selfishness and altruism is derailing peoples moral integrity.




Emmanuel Kant



Aristotle also views ethics as the force that holds human society and civilization together, since it is ethics that controls the dynamics and reality of human nature. To Aristotle, man and his nature is a trifurcation of the vegetable, the animal and the rational elements. The vegetable elements include the physical aspect of man, and his metabolism, whereas the animal part consists of the appetitive and emotional aspects. The rational part of man on the other hand includes the mental and conceptual aspects of man (Colman) .


According to Aristotle Ethics should allow for the measurement of extremes, for instance, as an ethical concept, courage is seen as the moderation of recklessness and fear. Aristotle sees ethics as a very important factor in the society and suggests that man should not just simply live, but does so well and in conduct that is bridled by moderate virtue. Nevertheless, many see the actualization of this dictum as being so difficult, given that the virtue that is being referred to entails practicing that which is right, at the right time, with proper motivation, for the right reason, to the right party, to the appropriate extent and in the correct manner (Hughes) .


Emmanuel Kant


He did his works between April 22nd, 1724 and February 12th, particularly, it is vital to note that Kant was mainly interested in deontology, as an ethical approach that asserts the rightness or goodness of an object, an element or an idea. As such, Kant postulates that it is better and more accurate to observe the rules and duties that are related to the action. It is due to this reasons that Kant’s philosophy on ethics is seen as being deontological.


Kant asserts that, “To act in an ethically upright manner, an individual must have acted from duty,” Kant went ahead to illustrate that it is not the consequences of the actions carried out that makes an act right or wrong, but the benefits received by the majority. The Kantian point of view on ethics maintains that, “Elements deemed to be good, such as pleasure, intelligence and perseverance cannot be counted to be taken to be intrinsically good, or in the absence of qualification” (Kant) .


While intelligence can be used by an individual to harm others, pleasure can be derived from watching other people languish in poverty and misery. Perseverance may also be used as a weapon or a stratagem employed by an individual against his perceived enemy. As such, all these are constructs that are good by the look at the facade, but in reality, they portend actions that are ethically worse.


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John Locke



Kant, like Aristotle uses a maxim to bring out the importance and essence of ethics Kant. Given the above maxim made by Kant, it is easy to see that to him, the most important concept that used to appraise an action carried out by an individual as either good or bad, is the will. This is to say that to Kant, an action may be deemed bad, in extrinsic terms, but a careful look at the intrinsic underpinnings may justify the action that has been carried out.


John Locke


He performed his duties as a philosopher between August 29th, 1632 and October 28th, 1704. He did not only make contributions touching on political philosophy, but also made cogent contributions towards ethics as moral philosophy. As a matter of fact, Locke’s concept of ethics is considered in social sciences as the Father of Liberalism (Dunn) . According to Tully, Locke’s viewpoint on ethics is found on intergenerational obligation and stewardship. To Locke, the system of intergenerational ethics is based on five factors: the need to preserve human species; the need to prevent any possible destruction or wastage of creation; the need to treat the earth as opposed to owners the need to leave behind, what is enough and good for other people; and the need to respect and preserve every generation’s right to chart its own destiny by making its own political choices. This means that John Locke’s arguments on ethics are merely geared towards ensuring that there is intergenerational social justice and harmony (Tully) .


The preservation of the human species is the primary concern of Locke in ethics. To him, all ethical standards and fundamentals of all natural laws are ancillary to the need to act towards the realization of the preservation of species. Locke adheres closely to Biblical notion that the earth is given for mankind as a form of intergenerational commons and cites King David’s point that, “God gave the world to Adam and to his posterity in common.” To this effect, the chief obligation of mankind as the tenant is to maintain the property or an asset in as good state as it was, primordially. To Locke, therefore, as a tenant, every individual must be guided by the ethics that will safeguard the earth for both God and the tenant-generations that are to come.


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Before this problem-solving



One thing that has eluded both political leaders and law enforcement officers concerning the functions of police is misconception that policing is all about catching mentally vulnerable criminals, when in actual fact it encompasses a large number of other factors (Kilkelly, 2006). Also taken in consideration in this program was the importance of involving the community in policing, a feature that is central in all aspect of adults presence (Second Conference of the European Forum for Victim-Offender Mediation and Adults presence, 2002).


Before this problem-solving in the name of adults presence was developed nearly all the solution to juvenile crime reduction were to larger extent associated with what can be called situational crime reduction, which essentially mean that solutions to this problem were mostly about; position of shrub and trees, design of building, introducing CCTV, or street lighting (Second Conference of the European Forum for Victim-Offender Mediation and Adults presence, 2002).


This might have been working to an extent but one thing about it which actually prompted this program was the fact that it did not had the potential of reducing significantly the crime rate among the youth primarily because youths always not only looked for new opportunities of crime after the traditional one had been closed-off, but also found them thereby rendering this sealing-off of criminal opportunities a sort of an unending cycle. That is how “social crime reduction” was broached has an alternative of “situational crime reduction”. This was after a long haul of convincing primarily due to the reservations that the home office criminologist had on this new approach (social crime reduction) (Chappell, & Wilson, 2000). According to them trying to change the behaviors and attitudes of young offenders was an exercise in futility since it was either impossible or they were to grow of it anyway.


The social crime reduction strategy in this regard involved the police officers establishing working arrangements with the probation, prison, and prosecution office among other agencies in the three components of Criminal Justice System. It was only a matter of time before the realized sunk on the whole system that working together as a team of the entire body of professionals making up the Criminal Justice System had a far bigger positive impact on the efforts of reducing the incidence and crime among the youth (Chappell, & Wilson, 2000).


The kind of team work that we are referring to hear encompassed talking across the various agencies and components of CJS, working together of all professionals in the CJS, and training and familiarizing on adults presence (RJ), something that was found to work as a common language and therefore a common culture, that overcame majority of the traditional blockages and rivalries to inter-component and inter-agency co-operation (Chappell, & Wilson, 2000). These and other developments are some of the strategies that are currently being undertaken in the Thames Valley police after they have been found to be fruitful in reducing the crime and incidences among the youth (Thames Valley Police, 2010). Majority of the people in this region are now talking about the ‘magic’ of a new form of policing by the name “Restorative Policing” (Thames Valley Police, 2010).


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John Locke’s standpoint



To Kant, the most important aspect of ethics depends on the will. Given that at the time, Europe had already undergone the renaissance age, it would be important to judge an act in a manner that would encompass comprehensiveness. Given the complexity of issues that surrounded actions that would be judged as ethical, unethical, or even amoral, Kant therefore saw it important to factor acts that are carried out in duty. A soldier killing his opponent in the line of duty would not be condemned for having acted unethically, since he will be discharging his duties.


John Locke’s standpoint on ethics also illustrates the times and place that characterized his life. At that time, England and Europe were caught up in the adventure of carrying out the acquisition of wealth, and the extension of a nation’s political strength through investment and colonialism. It is against this backdrop that John Locke waxed poignant that for an act to pass as ethical, it must have factored the welfare of the rest of the humanity, the welfare of the environment and that of generations to come. Therefore, the amassing of wealth at the expense of future generations, environmental safety, and to the detriment of the masses would amount to an unethical act, according to Locke.




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Loss leading



Affiliated to the buyer clout of large retailers is the tradition of below cost selling or loss leading. There is proof to imply that some retailers sell wares at lower than cost in order to increase market share.


The custom of loss leading by large grocery retailers was examined in the Competition Commission’s 2000 supermarket report. Small retailer firms are worried about the custom of loss leading by large retailers over extended periods of time, because small retailers are not able to compete in this manner for an extended period of time. The firms said that due to the fact that small retailers do not compete on the basis of price they lose market share to large retailers whenever below cost selling or loss leading customs are employed.
The custom of ‘predatory pricing’, in which a company sets its price below cost for a period long enough to force its competitors out of the market, is forbidden by competition law. On the other hand, as pointed out earlier, the buyer clout of large retailers is apt to be such that even without selling at lower then cost, the prices that are charged by large retailers are apt to be unfeasible for small retailers. As a consequence the prices charged by small retailers will appear uncompetitive when opposed to large retailers. For this reason, it is possible that due to the buyer clout possessed by large retailers, even without selling at prices lower than cost, the prices charged by large retailers will be so low that small retailers will find it very hard to match them.


Store format and location of large retailers
Out of town versus town centres

Competition between large retailers and small retailers is usually categorized as being between out-of-town stores and town centres. It has been claimed that shopping centres in out-of-town areas have attracted customers away from more conventional high streets. The preceding few decades have seen a rise in shopping in large, out-of-town stores and shopping centres, which it has been claimed has hasted the downfall of local shops.
The shifting dynamics of retailing, in the grocery sector as a notable example, is shown by an investigation of the different categorizations in the Yellow Pages over time. In the period between 1992 and 2002 there was a rise of 8 per cent in the quantity of retailer entries in the Yellow Pages. During the same period there was a decrease of 20 per cent in Bakers and Confectioners, 40 percent in Butchers, and 59 percent in Greengrocers and Fruit Sellers.


As well as this, retailers, and specially grocery retailers, have increased the range of goods and services they offer. Indeed McGoldrick (2003) discovered that one of the causes that grocery retailers have increased the range of goods they offer is because consumer spending on food has not risen in comparison to expenditure on other items. Items such as CDs, books, clothing, kitchenware, and electrical goods are more and more being sold by large grocery retailers as well as services for instances insurance and banking. As a consequence of these alterations it has been stated that local centres have become delicate and are becoming smaller.


Calculating the impact of these alterations on small retailers (or town centres in general) is hard because of the scarcity of data. Other researchers have tried to examine the effect of large grocery retailers by examining their effect on employment. One research proposes there has been a long-term fall in full-time retail employment in spite of substantial increase in the level of retail sales (whether measured in real or volume terms). Nevertheless, examining at the period between 1982 and 2003 in London, though full-time employment in the retail sector reduced to some extent, part-time employment rose quite drastically. For this reason though full-time employment has reduced to some extent over time, part-time employment has risen which has left total retail employment in London higher in 2003 than in 1982.


Large retailers moving into high street locations
In the past few years large retailers, and especially grocery retailers, have been more and more going back into small format stores in high street locations. For example Ruston (1999) discusses large grocery retailers investing resources back into town centres after years of growth in out-of-town centres.


The small retailer firms showed their worried about large retailers of late moving into high street areas. The firms are worried because they suppose that, particularly with regard to grocery retailing, that small retailers may be incapable to compete with the smaller format stores operated by the large grocery retailers. Without a doubt the New Economics Foundation (2003) comments that Tesco Express stores have supposedly caused reductions in business of 30 to 40 per cent for other local shops. While this number is improbable to be completely strong for every local store going through the opening of a Tesco Express it seems rational to deduce that the move by large retailers will have some effect on the small retailers already on the high street.


One of the small retailer firms informed the researchers that the brand strength of large retailers was a specific concern for small retailers. The firm said that because customers tend to be more accustomed with the goods sold by large retailers, this creates some loyalty to them as compared to small retailers. On top of this, large retailers have loyalty programs, such as loyalty cards, that are developed to enhance customer loyalty. What this implies is that when large retailers set up a small format store on the high street they by now have a specific amount of customer loyalty and as a consequence an edge over small retailers in the area.




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