A Concise Economic History Of The World

I was born and raised in developing country, Indonesia, the situation made me observed less progressive basic infrastructure such as roads, bridges, electricity, and mass transportation availability in many Indonesia’s rural regions or even cities, because I witnessed by myself during the time I lived in my hometown South Tangerang City and the village

Furthermore Australia’s largest sector is in services whereas Indonesia’s is in industry. This could reflect the lack of tertiary education available in Indonesia as the workers will mainly be unskilled or low skilled. The GDP per capita is also drastically different and this would represent the average income in each economy, hence also reflecting the quality of life experienced.

In Figure 2 it is evident that Indonesia’s cost of living, as reflected by the CPI, has been significantly deteriorating over the last 8 years. Although research argues that CPI may not be an effective indicator of the cost of living for a developing country such as Indonesia (East Asia, 2015). In contrast measuring the percentage of a household budget that goes to food is could be a good indicator. Since 2000, the percentage of household budget spent on food has declined, meaning higher expenditure on discretionary goods and services. This indicates that Indonesia’s urban regions are getting richer faster than the impression expressed with the CPI (East Asia, 2015). This is also reflected in figure 1, as the significant increase of mobile phone subscriptions is a good proxy of increased living standards as a mobile phone is a discretionary living cost. This is a result of the Indonesian growth rate earning a higher level of surplus income to spend on more luxury items.

Australia and Indonesia have both experienced continuous growth in their economies over the past few decades have continued to expand over recent years. This response will discuss both the Australian and Indonesian economies and will outline the similarities and differences of economic growth and quality of life, employment and unemployment, distribution of income and the role of government in health care between the two countries. Australia’s economy has proven to be on of the most sustainable in the world and the quality of life is very high, however Indonesia has also developed quite substantially over recent years and now play a very important role in the global economy supplying many countries with valuable resources at low prices as they have extremely cheap labour. Australia and Indonesia have both experienced a reasonable increase in economic growth and quality of life over time and are

Indonesia had a GDP of 868.3 billion international dollars (GDP of Indonesia, 2016) and a GDP per capita of 3,475.25 international dollars in 2013 (GDP per capita, Indonesia, 2016). The GDP is primarily used to indicate an economies performance, it is measured by Y = C + I + E + G, where Y = GDP, C = Consumer Spending, I = Investment made by industry, E = Excess of Exports over Imports, G = Government Spending (Birch T, 2016). The GDP per capita is calculated by the GDP of a country, divided by the population of a country. The GDP and GDP per capita are very vital indicators of an economies progress. A rise in GDP shows that there an increase of value in an economy or there is a higher income or rise in expenditure which implies that there is a rise in the standard of living of the citizens and due to rise in income there will be a higher spending on various goods and services like healthcare, education, etc. Therefore as Australia’s GDP is higher than Indonesia’s there is an indication of higher living

Can the modern-day economy be reverted to the Great Depression era? Since the 1930’s, the economy had reached an all-time high -12.9% in gross domestic product growth rate. The country Gdp growth rate has always fluctuated when the major event that occurred. Who is responsible for the economic status of United States of America? The government has the ability and resources to keep the economy healthy. The two agencies that has the power to create laws and regulation to manipulate the economy to improve is the federal government and the Federal Reserve Bank. Though, the government cannot influence the decisions of the Fed, the fed must act in the best interest of the economy.

Meanwhile, the crude death rate in Indonesia in 1970 was 17, 7.9 in 1988, increased slightly to 9 in 1990 and dropped to only 6 in 2006. Furthermore, the infant mortality rate declined from 67 per 1,000 life birth in 1988, 56 in 1990, to 52 in 2000 (Demographic Indicators: Indonesia, http://www.unicef.org). The decline in mortality rates in Indonesia were caused by better standard of living, better families’ health and better education which are also caused by family welfare improvement.

June 1914, no one knows the tragic death of or a successful assassination attempt has triggered the first World war. However, that one bullet is not enough to start the war. The increase in nationalism, imperialism, and militarism may play important factor of the war. Unfortunately, the Great war is not the only Global War that has happened in history. Countries' ambition toward global power continues as dramatic progression in technology and military weapon leads to World War 2. Despite the death of 60 million, countries' economy collapse, and destruction houses and buildings, the legacy that the World Wars left behind is everlasting. The byproduct of these two wars is massive, in political a new global map and some of the most powerful and

Toward the end of our business booming roaring 1920s, the number twenty-nine was not a friendly number to Western industrialized citizens of the year 1929. In October, 1929 the Wall Street stock market took a turn for the worst causing a countrywide panic which led to be a national crisis for Americans all across the United States. This economic downfall stirred a ten-year financial nightmare leaving hard working citizens with little to no money at all.

Indonesia is the sixteenth largest economy, the largest economy in the South-east Asian economic region with the world's fourth largest population (263 million in 2017). It is an emerging economy that has increased its international integration, trade liberalisation and diverted from policies of import substitution towards export-led development. Indonesia is a member of the Group of 20 (G20) major economies and has been an active founding member of the World Trade Organisation (WTO). The impact of globalisation has benefited Indonesia as quality of life indicators and economic developments have improved but it also presents the challenge of improving regulations, building more competitive industries, increasing investment into education and infrastructure to remain competitive. Consequently, Indonesia has introduced numerous strategies to promote economic growth and development.

Indonesia complained of their lack of autonomy In regions such as Maluku or other areas of Eastern Indonesia, “a low capacity for generating local revenue restricted the ability to adapt projects and development to local conditions” (Bertrand, 198).). The scanty amounts of funds were unable to support the poor and other problems. Bertrand states, “Faced with the New Order regime introduced mild reforms that were designed to address some technical issues while avoiding political decentralization” (Bertrand, 198). In 1995 the Minister of Home Affairs selected 26 districts were used to evaluate the measures designed to increase autonomy. They noticed an increase in Indonesia budget, but they still failed to support the poor, which resulted in

Not only has the economy grown rapidly over the last quarter century but there has also been dramatic demographic and social change. Fertility rates have declined substantially and there have been massive investments in human capital. This can be seen in secondary school enrollment rates which have risen from a mere 6% in 1960 to more than 50% today; primary school enrollment is essentially universal. (Poppele 1999) The investments are also reflected in the health of the population: at birth, the average Indonesian today expects to live to the age of 61 which is 50% longer than he or she expected 30 years ago. Thus, the labor force has not only grown dramatically in size but also in quality. The consequences of these improvements are reflected in significant rising real wage levels over the last three decades. (Smith 2002)

Universal healthcare coverage in Indonesia One year on January 2015 Written and produced by www.eiu.com/healthcare an Economist Intelligence Unit business healthcare Universal healthcare coverage in Indonesia— One year on Contents Abbreviations 5 Introduction 6 Indonesia’s version of Universal Healthcare: What is the JKN? What about the KIS?

The influence of historical effects on modern economic development has sparked a productive line of work in economic history. Many researchers have tackled the issue of the persistence of historical institutions (e.g. Acemoglu, Johnson & Robinson, 2001; Dell, 2010) and their effects on economic outcomes. While most of this research has focused on legal institutions and their consequences, researchers have recently started to explore the persistence of less quantifiable institutions, such as value differences. In general, values tend to persist over generations if circumstances do not change dramatically (Giuliano & Nunn, 2017). For example, Becker et al. (2015) found that the population residing within the former border of

The world’s economy is connected to the production of goods or the execution of a service. Employees, especially in non-management positions, preform the construction of goods or interact with customers in physical, communicative, or emotional levels in an attempt to satisfy the customer’s expectations, meanwhile, achieving satisfaction form accomplishing their own objectives (Bethel University, 2011). Employees choose to provide for their family, by accepting employment, preforming duties that they deem unsatisfying or monotonous-to provide fulfillment for their family’s well-being. The chosen profession can lead to dread and a feeling of emptiness as an individual, rendering the employee depressed, and altering their behavior at home and work (Bethel University, 2011). In an attempt to combat these crushing emotions, an employee requires reflection upon their own desires and needs as an individual and as family provider. Worker satisfaction is paramount to successful livelihood. Satisfied workers are pleasant to associate with and their personality contains uplifting and reassuring characteristics that can counter the overwhelming darkness surrounding team-members whom suffer from depression. The effectiveness and efficiency of teams depends upon high team morale, high communication skill, and satisfaction of personal and professional needs (Bethel University, 2011).