The Great Surge By Economist Steve Radelet

When the Great Recession is spoken about it us usually linked to the Great Depression because it had a similar economical effect on the nation. The unemployment went down, there was poverty, family had little or no resources left and lastly it was hard to recover from it.

Being two of the most respected and qualified academicians on public policy, Charles Murray, and Robert B. Reich have never been short of making controversial and contradicting statements which arguably serves only their interest of getting an audience. Public policy as it is has been subjected to lots of changes throughout the history leading to different reactions and opinions from different individuals. “What it means to be a Libertarian-A Personal Interpretation” written by Charles Murray, explicitly describes how the society should view the government by claiming it can help in achieving overall happiness and allowing members of the society to have a right to individual freedom when coping with the changes brought by public policy. On the other hand, Robert B. Reich’s “Aftershock the next Economy and America’s Future” talks about overcoming our problems by keeping a tier of classes. This paper discusses the contradicting views of these two writers.

The eight years between the end of World War I and the beginning of the Great Depression were generally booming ones economically. The economy’s total output increased by 50%. However, during these times there were three visible flaws during this time period. First and foremost, during these years income was dispersed inequally. This is proven through the fact that, despite output per worker rising, wages and prices were secure, which led to increased incomes for the wealthy. Secondly, the United States was no longer the world’s largest debtor, but became the world’s largest creditor. This means that a creditor must import more than what is exported. Where an exporter must export more

According to the World Bank, from 1993 to 1998, poverty rate has reduced by 14 percent in developing countries, similar to about 107 million people. This may result from receiving foreign investment that plays an important role in local economy growth. For example, the proportion of population living in poverty in India decreased by half in the two decades, from the 1970s to 1990s, while the number of Chinese in poverty declined by approximately 210 million during twenty-one years, from 1978 to 1999 (Healey 2008). In other words, the standard of living is improving due to the benefits of international economic activities.

In the Book, Pop, Why bubbles are Great for the Economy by Daniel Gross, there is an explanation of why people today do not understand the agitations and turmoil that create barriers to improving the economy. The ideas that economist hope to see in the world, are very farfetched from actuality. This world that they think of is a dream that is practically perfect in the way of allocating resources and making sure everything is done in the best possible way. However, people cannot all see the bigger picture and have faith that it will be what is good for the economy. Instead, our economy is centered over a few main points which are self-indulgence, entrepreneurship, and sometimes this can cause mayhem within the economy. Daniel explains how Americans handle our economy growing and new things coming to the public’s eye as if losing their marbles and everything crumbles from there. The book discusses different time periods that bubbles got out of hand and because of that people were hurt financially. People got hurt because the prices of different markets rose when the economy was not ready for it to raise. The different industries that the book exhibits are telegraphs, railroads, the internet, real estate, and alternative energy.

Multiple factors determine the developmental pace of a country. One important factor that has determined the development of America is its economy. Unemployment rates, inflation, and rise in poverty are just a few economic indicators that a country is not developing properly. Cutting poverty in order to help the poor and enlarge the middle class is a major goal the U.S. is trying to achieve. According to The State of Working America, the rise in poverty is clearly depicted following the most recent American economic recession. The best way to cut poverty in America is to raise the minimum wage, create new jobs, and expand Medicaid.

The United States is one of the strongest standing superpowers that have existed in the past few decades. Many people believe that the United States is declining from being a continuous super power; however according to Zakaria the United States is not declining. This is because they remain to have one of the strongest standing army, they have risen culturally, and economically the United States has been emerging enormously. According to Zakaria the United States has dominated the politics, and the culture in the 20th century, nonetheless he believes countries such as China, India, European Union, Russia, Brazil, South Korea, Japan, South Africa, and Turkey will rise in the 21st century. Zakaria states “-industrial, financial, educational, social cultural- the distribution power is shifting, moving away from American Dominance” (5). Thus he is proving his point about how the power is shifting to the other 124 countries. Furthermore, Sachs Jeffery mentions the “poverty trap” and the many possible ways to help the countries that really need it. One way to help these under developed countries is by providing for these republics. The developed nations need to assist the poor economic states just enough so their living standards may rise. The United States doesn’t have a lot to worry about the “rise of the rest”, therefore helping countries under the poverty trap should still be aided by the developing nations, because countries such as the sub-Saharan African nations are under

My future goals have changed over time. In seventh grade I had a goal of becoming a great soccer player. That changed the following school year when I finally hit a big growth spurt. When the growth spurt happened, it started it aggravate the extra growth bone in my foot. When we found out that I had an extra growth bone in my foot, I wasn’t allowed to do much because of the pain it was causing me at the time. I made a choice not to do soccer because you kick the ball with your foot all the time so I thought what else could I do to keep in shape. I was like wait I should play football I would be great at that so I start telling my dad and he turned his head and gave a little chuckle then turned back and said the kids that play football are

The lifeblood of these regimes is the dissatisfied citizens, the unimpressed masses who desire revolution and freedom from poverty, which is propogated to have risen out of Capitalist involvement in the Americas. Capitalist economies, on the other hand, believe that it has nothing to do with their involvement and instead sees these stages of development as natural, something that every economy will go through, if they have not already. Despite the appeal, it is untrue to say that every developed nation has gone through stages of development that todays underdeveloped nations are going through. As Andre Gunder Frank puts it “the now developed countries were never underdeveloped, though they may have been undeveloped” (104). This goes to show that the playing field was not even for all, and that today's developing nations had a headstart in developing.

Over the years the global economy has seen a rise in so called ‘emerging markets’. These are developing economies which have exceeded economic performance in respect to their developing counterparts. These economies are newly industrialized and are on their way to becoming developed economies but have not yet reached that status. The more common and likely heard developing economies consists of BRIC (Brazil, Russia, India, and China) followed by Mexico, South Korea, Turkey, Saudi Arabia, and Indonesia. Developed nations (MEDC) include the westernised countries such as the U.S, the U.K and Japan. In 1999, Dr. Kvint published this definition: "Emerging market country is a society transitioning from a dictatorship to a free-market-oriented-economy, with increasing economic freedom, gradual integration with the Global Marketplace and with other members of the GEM (Global Emerging Market), an expanding middle class, improving standards of living, social stability and tolerance, as well as an increase in cooperation with multilateral institutions" This essay will locate the common characteristics that emerging markets share.

The Big Picture is a book by award-winning authors that offer great insight into the reason behind the global economy crisis. The book offers insight into the ways in which one can navigate their way into being successful economists where competition is stiff and the uncertainty of what the market could be tomorrow are a serious challenge. The authors give a clear pathway on how consumers, businessmen, federal reserves and the governments should take account of what is happening about them in order to make critical decisions that they will not regret (Naroff & Scherer, 2014). What is assumed to be common sense is fundamentally different to those that takes keen interest in the global economy and therefore individuals should take informed steps to cope with this.

Most of the developing countries are mired deeply in economical obstacles, which prevent them from development significantly. In order to overcome those embarrassments world’s society struggles to find the efficient solution for poor countries’ economies. Historically, developed countries undertook policy of giving aid to their colonies, afterwards by the end of The Second World War the United States and United Nations embarked the global sponsorship to the developing countries and countries of the Third World due to humanitarian considerations. Since then many other countries have joined in the effort to provide financial aid to lesser developed or poverty ridden countries. But none of those countries that received an aid had experienced a prosperity phase and rapid economic growth.

The countries that have experienced high and rising levels of poverty are more often than not, the developing countries that have been marginalised from the process of globalization. Think of North Korea or many countries in Africa. Such countries have insufficient levels of international trade and investment -- not too much. Whether poor countries are poor because they do not trade enough or because poverty stricken countries are prevented from engaging in the global economy, less globalization is generally associated with less development. Ernesto Zedillo, the former president of Mexico seems to have understood the power of globalization when he said, "In every case where a poor nation has significantly overcome its poverty, this has been achieved while engaging in production for export markets and opening itself to the influx of foreign goods, investment and technology -- that is, by participating in globalization."

Paul Collier’s book is about the future of the world. Most of the world is on the positive trajectory set by growth and prosperity. The 21st Century is the age of the middle class. For most of the world, things are looking up. However, Collier is concerned with a group of countries that are not part of this trajectory. Collier is concerned with approximately 58 countries that constitute about one billion people, or 20 percent of the earth’s population (Collier 7). This “bottom billion” group belongs to countries that are not progressing with the rest of the world’s pace; in fact, they seem to be diverging and falling apart when everyone else around them are growing. The purpose of the book is to show these countries are, in fact,

The developing nations were often seen as periphery whereas the developed nations are seen as the core. Mainly because the less developed countries were targeted for their resources. Resources, such as, agriculture, tourism, or a place to operate a strategic, military base. All this is just another way of saying that the developed nations were exploiting the developing nations through their people, products and resources both natural and manmade. All that this accomplished was to make the developing nations more wealthy and the developing nations were provided jobs but at the expense of people both local and rural and immigrants in search of jobs that led to over population, lack of housing and shortage of jobs. This of course leads to more problems that the developed nations have experienced and dealt with and have almost succeeded in solving completely but the developing nations have yet to find their own solutions to deal with