Tuesday, February 18, 2020

Economic Growth and Economic Fluctuations Essay

Economic Growth and Economic Fluctuations - Essay Example The economic theories and models examined would be the Solow Model, the human capital theory and screening model. The effects of governmental policies on the openness of the economy will also be examined here. The data given will serve as guiding force in the determination of the ability of our study country to achieve rapid short-term economic growth and long-term sustenance of a steady rate of growth. When charged with the responsibility of determining the best policy to foster long-term economic growth, it is vital to analyze many economic factors and trends. These factors include the impact of productivity, savings and depreciation on the economy as well as the economy's ability to sustain long-term growth under the given circumstances. In so doing, the Solow Model can serve as a general guidance in determining whether an economy can sustain long-term growth given the present combination of factors. In order to examine this it is vital to offer an operational definition of Solow's model. Solow's model is a model the increase in the capacity of a country's economy to produce goods and services over time. This increase theoretically implies that the well-being of the citizens will improve over time. According to Solow the increase can be determined utilizing a formula whereby the GDP is determined by combinations of inputs. Solow simplifies this very intricate function by presumi ng certain factors are held constant. One of the most fundamental simplifications is the assumption that a single good is produced by the economy in question. In so doing, the GDP is greatly simplified and its implications are clearly depicted. The other assumptions of the Solow model include the assumption that all data is collected on a time continuum, a single good is produced with a constant technology, there is no governmental or international trade, all factors of production are utilized to their full capacity, the growth within the labor force is constant. Utilizing the relationship existent between the savings and the investment and extending the Solow model further, we can assume that the depreciation rate, the amount of capital depreciation and the change in capital over time are held constant. The implications of this are such that in the long-run, we are able to yield a production function whereby Y = AF(K, L). Essentially, it establishes a relationship between capital stock and the economic output. Taking this one step further and assuming that labor input is held constant and there is a positive correlation between changes in capital and output we can see that in time additions to capital stock will yield additions in output. This relationship can be expressed in terms of labor and economic output. In so doing, we can determine the economic output for each individual in the society. The pertinent equation is y=Y/L and can be graphically depicted as follows: The Impact of Savings Rate on Long-term Economic Growth After having examined the production function, we need to examine a prudent question-Is it possible for our country of study to catch up with richer countries and at what rate will it occur In examining that question, we need to realize that according

Tuesday, February 4, 2020

Innovation of Asian films Essay Example | Topics and Well Written Essays - 3000 words

Innovation of Asian films - Essay Example This paper illustrates Asia as a continent rich with history and culture. The countries here have basically experienced many things that has enriched their culture and filled their history with interesting anecdotes and stories worthy of retelling. China is probably one of the richest and oldest civilizations predating even that of the affluent west. It has been a dilemma then as to why there has been a slow progress in the Asian films and even on their actors whereby they have usually fallen prey to the stereotyping of Hollywood. It seems to point out that despite the rich culture and history of the countries in the continent as well as the world class artistry characteristic of the continent; people including actors have been relegated into sub roles, littered with stereotyping and basically with little or no speaking roles. There were even films wherein the roles that are supposedly portraying an oriental are played by Caucasians. However, it is from these humble roots that the As ian films have slowly gathered strength and over the past decade have shown increasing prominence in the global arena. True there have been Asians that have made big names during the past century in Hollywood but so far there has been an overwhelming preference towards western films and western actors during that time. But, through the years, the growing prominence of the countries in the region in terms of their economic prosperity seem to have helped in boosting the quality of the films that they are able to produce. Rampal (2005) recognizes the reinvention of the Asian film outfits in order to shed the past imagery of stereotyped Asians and take in new and brighter colors characteristic of taking their respective leads on the big screen. Moreover, the improvements in the economies of these Asian nations have also brought in a more educated audience. These intellectual audiences have also been influenced greatly, quite ironically, by the west such as the democracy as well as the a llure and the glitz and glamour of Hollywood. The Abyss The world of films and cinemas has been filled with the myriad of manipulative directors attempting to delineate from reality in their attempts to depict the things that they want. The early development of the world of films seems to have taken a strong parallelism to the real world events. This can be seen with the problem of racism which has been a strong theme back in the early 90’s for the western films. Also, there has been the stereotyping of the Asians as mere second-class citizens. As mentioned, there were even oriental roles ironically being played by western actors. This shows how strongly most Asians are being sidelined as mere supporting actors or even extras with no speaking lines (Associated Content.com 2011). To exacerbate the situation, the stereotyping has even gone beyond the second-class status to an almost three hundred sixty degree turn to make them the utmost bad guys. Many films truly made money on depicting the Japanese as brutal soldiers after the Second World War. This stereotyping has been a strong characteristic of the films preceding the war (Associated Content.com 2011). This has been the characteristic of Asian films which have been like an abyss that has seem to have swallowed the industry of the continent. This seems to have been a very dark chapter of the Asian films which has also coincided to the times when almost all of the countries in the continent are trying to rebuild after the devastation of the war. Most nations have been experiencing hardships and are generally poor. Hence, it seems easy to see as to why there the stereotyping has happened. However, at the turn of the century, Asian countries showed more economic strength and there has been a significant rise initially led by the newly industrialized Asian economies such as Singapore and Korea. At the turn of the century, communist China opened her doors which fuelled the rapid growth of the Chinese econo my. Thus, after sorting through the rubble of the Great