The Keynesian Neoclassical Synthesis Economics Essay

The Keynesian Neoclassical Synthesis Economics Essay Introduction Economics A study which involve the understanding on how well a countrys economy on a Macro scale whereby it look at the GDP, national output, inflation rate and unemployment. The other side will be the Micro scale of the economy, which is the study of the composition of output such as the supply and demand for individual goods and services, how they are traded in markets and patterns of their relative prices. The beginning of economics started in year 1776 from Adam Smith, the first economist, which he came out with a theory Classical Economics follow by Keynesian Economics created by John Maynard Keynes as he put forward a book The general Theory of Employment, interest and Money, Published in 1936 in response to the Great Depression of the 1930s. (Skousen 2007, 3-9) Neoclassical synthesis was then created by John Hicks 1937 (on his IS/LM Curve) However, it was only popularize by Paul Samuelson (1948) with his textbook Economics which Paul Samuelson (Economist 2011). Which make him awarded the second Nobel Prize for Economics in 1970. However, this model falls out of favor in the 1960s. This paper will be explaining in depth on the KNS model on it strength and weakness, follow by a critical analysis on this model. What make this model failed in the 1960s and what aspects have remained in the current model of the Keynesian Neoclassical Synthesis. Keynesian Neoclassical Synthesis As we know this theory basically come from John hicks on his IS/LM curve on his article in the 1937 and popularize by Paul Samuelson with his famous textbook Economics in 1948. The Keynesian Neoclassical Synthesis is created after the World War II as the war had is the roots cause of the financial and economics to collapse. The Great Depression in the post 1930 was the result after the World War II. The Keynesian approach to the macroeconomics in the neoclassical theory and the importance of a mixed economy was stressed in John Maynard Keynes Book: The General Theory of Employment, Interest and Money. He believes that having a balance between both micro and macro can provide a balance to the system. Beside that the Keynesian approach to the macroeconomics into the neoclassical theory had also help most part in the western world to regain supreme. Keynesian neoclassical Synthesis major idea was to have government management to be involved in order to control recessions or economics depressions. The model believes that government intervention could be the most effective at time of economic depression under the private sector of the economy. For example at time of low demand or high unemployment, they believe that government management could help the economy to stimulate in boosting employment and control inflation. Hence, to reduce unemployment and control inflation is the key objective under the KNS model. The model believe the by government increase their spending can be seen as a reduction in the interest rates and an investment infrastructure to be the most effect role of the government in order to boost the economy when it is on the down side. The theory also believes that by government involvement could create an economics positive feedback cycle. For example government investment would create employment as more workers are required, more workers mean more income and more income increases the spending, which also increase production and with more production needed, unemployment will decrease and more jobs available so on and so forth. However, Keynesian agreed that government involvement is required to achieve in reducing unemployment and also control inflation. There are numbers of economists who are concerned with the KNS model, namely the effectives of the market mechanism in generating stable full employment equilibrium without the involvement of the government. This is still in the debate between economists. Main feature of the KNS Model Upon the born of KNS model, the model itself have a couple of important features and point which this model explained. The points will be explained in the below paragraph. Money one of the most important factors among the economy. Keynesian believe that money is not neutral as compared to the thinking under the classical theory where it believe the money does not impact consumer behavior, employment and output. Money is treated as endogenous. (Gail M. Hoyt 2012, 642) However, under the classical model it argue that money is neutral where people only hold money for transactions motive and if they are not doing any transactions the money will then be use for investment with the assumption that a rational person would not hold money if they are not using them for transactions or investment purposes. (Net 2009 2011) The question is how true this is? Under the KNS model is disagree with the classical model where people do keep their money and not spending them all way under several reasons: Uncertainly for the future, interest rates, liquidity and animal spirits. These factor will then be explained in the below paragraph. Why the model falls out of favor in 1960s? 500 800 What aspects have survived in contemporary model? 300 Summary 300 words

Darren Aronofskys Requiem for a Dream Essay -- essays research papers

Darren Aronofsky's Requiem for a Dream Requiem for a Dream is a movie that was directed by Darren Aronofsky. It's a story about the decent in to the hell and torment of drug addiction; however, Aronofsky sets out to demonstrate both the seductive ecstasy of a high and the shattering anguish of addiction. Character development is the main focus of Requiem, which is shown through creative camera angles, precise editing, and brilliant acting.   Ã‚  Ã‚  Ã‚  Ã‚  This movie blew my mind away, actually I found it difficult to sit through the entire movie without taking a break to go outside just to make sure that reality wasn't as bad as the movie made it seem. Aronofsky did a mind-boggling job of exploring the pleasures, and horrors of drug use. However, he did it in a way that I had never seen before, his camera work and editing were so creative I couldn't help but repeatedly think "Wow, I've never seen anything like that before." In a movie review of Requiem Arthur Lazere states "Technique is important here because Aronofsky's films are both manneristic and expressionistic in spirit and style, exaggerating and distorting images for dramatic effect. He uses split screens, fast motion, fades to white, body-mounted cameras, repeated sequences, exaggerated sound effects somewhat self-conscious methods that quite deliberately keep the viewer always aware of the filmmaker and what he is up to, much the same way some painters u se a think impasto"   Ã‚  Ã‚  Ã‚  Ã‚  "I'm somebody now, Harry! Everybody likes...

Importance of Greek Mythology Essay

â€Å"Greek mythology is the body of stories belonging to the ancient Greeks, concerning their gods and heroes, the nature of the world and their own cult and ritual practices. Modern scholars referred to the myths and studied them in an attempt to shed light on the religious and political institutions of ancient Greece and, in general, on the ancient Greek civilization. † (citation) Mythical narration played a very large, and also important role in the lives of the ancient Greeks, they relied mainly on the mythical stories to guide them through crisis and gave them something to believe in; as many people follow God’s words and the Holy Bible in our current time. The epic poems â€Å"The Illiad† and â€Å"The Odyssey† are the oldest known literary sources from the mythology time that we know of. These poems include very many important life lessons such as spiritual growth, loyalty, and perseverance; but these are only a select few of the main themes in the epic poem, â€Å"The Odyssey. † Homer does an excellent job in relating this message through various characters, adventures, and obstacles throughout the book. In the epic poem, â€Å"The Odyssey,† Homer shows the importance of spiritual growth through many instances. Odysseus begins on Calypso’s island and he has been led to believe he owns everything, except for the most important thing, happiness. Odysseus’ becomes depressed because he realizes how much he misses his home land. Homer introduces Odysseus at a bad time to emphasize the growth of Odysseus’ spirit from beginning to the very end. If Homer would have written about Odysseus in high spirits from the beginning, then the growth would not have seemed as prevalent. Odysseus seems to brighten up quite a bit as he sees the light in sailing home. He is brutally tested Poseidon nearly kills him when on the coast of the first island that he reaches, Scheria. The Odyssey says, â€Å"and trapped within that backwash of the brine, Odysseus would have died before his time had not gray-eyed Athena counseled him. † This is only one instance of many that seems to shows the lesson of spiritual growth in â€Å"The Odyssey. † This epic poem also portrays loyalty in very many different ways from characters to situations. In The Odyssey, there remained three main characters that stood out and showed their trustworthiness to Odysseus while he was away fighting in the Trojan War and trying to make his way back to Ithaca. It seems that out of all the characters, the most loyal person to Odysseus could have been simply overlooked, but it most definitely would have been Odysseus’s wife, Penelope. She remained faithful to her husband even after almost twenty years apart from him. She refused to marry one of the suitors that hassled her day by day; so it came as a surprise to learn that Odysseus is most unfaithful to his wife. This part of the epic poem represented the human-like personality of Odysseus in showing that even he could make mistakes, and also wasn’t anything close to perfect. Telemachus, at one point, shows his loyalty to Odysseus by joining him on going on a voyage to learn more about his father, Odysseus. There are a lot of different meanings for each tale and in the Odyssey itself, and there are many more understandings than just one interpretation. From this perspective, one of the main themes of the Odyssey is perseverance. Perseverance is a very important theme and is one that is seen quite a lot throughout the entire epic poem and definitely by more than one character. First of all, there is Odysseus and he was greeted with perseverance in the very beginning of the story. He was held captive by Calypso on an island, when later visited by Athena, Odysseus develops an even stronger desire to go home. In spite of Calypso’s persistence, he then decided to leave. Odysseus also had an encounter with Circe, and was presented with very many different types of temptation. He took the sea once more with his son and wife in mind, and proceeded home. Odysseus and his men end up running into the lotus-eaters. The lotus plants provided an excellent, relaxing feeling for all of the crew, and no one wanted to leave except for Odysseus who stayed his course. Perseverance is also displayed in his way of thoughts, and also his desire to survive and at times conquer, are qualities that promote his perseverance. For example, when Odysseus finally returns home, he plans to kill all of the suitors that have been courting his wife and ends up doing so. Homer’s epic poems The Iliad and The Odyssey have let us get a bit of a taste of the importance Greek Mythology for the ancient Greeks. His writings have let us see how much they believed in the Greek mythology and how they applied the life lessons to their personal lives. I found many comparisons to the Gods and Goddesses of Greek Mythology to our God that many people believe in today. Their words and stories were as important to us as His stories are to us today. Homer’s epic poem, The odyssey included many obviously important life lessons that the ancient Greeks learned from and took from the stories in the way they lived their lives.

The Year Of Wonders By Geraldine Brooks - 1630 Words

Oppression is defined as, â€Å"the exercise of authority or power in a burdensome, cruel, or unjust manner†(dictionary.com), and is found all around the world. There is essentially two parts to oppression: the oppressor, who is demonstrating his power by displaying cruelty towards the second part of oppression, the oppressed. The oppressed take part in offenses made by the oppressor, that usually contain a cruel, and unfair burden towards them. The world has demonstrated this profound relationship since human history first began, not only in their way of life, but in literature. For example, Geraldine Brooks, displays the oppressors, in her novel The Year of Wonders, by implicating strong men, and a powerful family; while the oppressed are†¦show more content†¦Panem is significantly lacking fellowship and liberation while under the oppressive rule of the Capitol. People are suffering and working endlessly each and every day inside the districts, while everybody in th e Capitol is living a superb and wealthy life. In order for this to change, Panem needs to reflect on these views, and change their way of life. In the novel, Peeta says, â€Å"Only I keep wishing I could think of a way to†¦ to show the Capitol they don’t own me. That I’m more than just a piece in their games†(Collins 142). He has already reflected the lack of liberation in Panem, and is now trying to envision a way to fix it. This needs to be the mentality of everybody in Panem. Cutting out oppression, and increasing fellowship, liberation, and solidarity, will disembody the life they are living now, and produce an improved way of life for everybody in Panem. In his novel, Pedagogy of the Oppressed, Paulo Freire also says, â€Å"It is only when the oppressed find the oppressor out and become involved in the organized struggle for liberation that they begin to believe in themselves. This discovery cannot be purely intellectual but must involve action†(Freire). The Secret Life of Bees, by Sue Monk Kidd, is linked to this quote. This novel is based out of South Carolina in 1964, at the time when the civil rights movement was strong, and the Jim Crow laws were still intact. Black people were treated unfairly andShow MoreRelatedYear of Wonders by Geraldine Brooks Essay828 Words   |  4 PagesThe premise of the novel (Year of Wonders) could be seen as the antithesis of a journey as the villagers voluntarily agree to undertake a quarantine, which means they literally cannot go anywhere. In what way does this text represent a journey? Though the characters in Year of Wonders are unable to take a physical journey due to their actions, their circumstances cause them to embark on many spiritual, mental and emotional journeys through the course of the novel. Anna Frith, for instance, isRead MoreYear of Wonders by Geraldine Brooks809 Words   |  3 Pages1. This books main character is Anna and she is faced with many obstacles while she strives to save lives and keep herself healthy at the same time. She is a housemaid and a widow that is stuck on her own trying to heal many people. The main event is the bubonic plague which turns an entire city upside down in fear, sorrow, and hatred. Anna has to deal with many different people accusing her of wrong doing to benefit herself or somebody else in letting somebody die. 2. Anna can persevere throughRead MoreThe Literary Melodrama Year Of Wonders1622 Words   |  7 Pages The literary The literary melodrama Year of Wonders (2001), by Geraldine Brooks, is a moving story of a community who quarantines itself in a great act of selflessness. Year of Wonders is a first person account of the plague, is told through the eyes of Anna Frith, a servant of the Mompellion household. Anna is a woman believed to be around 20 years old, who suffered physical and mental abuse at the hand of her father (Josiah Bont) throughout her childhood. Anna spends the most duration of theRead MoreThe Literary Melodrama Year Of Wonders1608 Words   |  7 PagesThe literary melodrama Year of Wonders (2001), by Geraldine Brooks, is a moving story of a community who quarantines itself in a great act of selflessness. Year of Wonders is a first person account of the plague, is told through the eyes of Anna Frith, a servant of the Monpellion household. Anna is a woman believed to be around 20 years old, who suffered physical and mental abuse at the hand of her father throughout her childhood. Anna spends the most duration of the novel in the village of EyamRead MoreTheme Of Oppression In The Hunger Games1328 Words   |  6 PagesWhat do the middle ages, the 1960’s, and the future all have in common? All eras face the gruesome struggle of being oppressed. Author, Geraldine Brooks’ demonstrates this oppression by sending her audience to the past, in her novel Year of Wonders, to follow Ana Frith through the struggles of the plague, societal standards, and coming of age. Showing her audience oppression can be both an internal and active battle. Susan Collins takes a different approach, leading her readers through a futuristicRead MoreYear of Wonders; While Many Characters in ‘Year of Wonders’ Display Admirable Qualities, Anna Frith Is the True Heroine of the Novel1517 Words   |  7 PagesMadison Howlett Year of Wonders; Essay â€Å"While many characters in ‘Year of Wonders’ display admirable qualities, Anna Frith is the true heroine of the novel† Throughout her novel ‘Year of Wonders’, Geraldine Brooks presents readers with many characters that are viewed as admirable in their village of Eyam, during the time of the plague. Set in 1665-66, Brooks creates an environment that many people would not be able to cope with. Numerous deaths and a village that is crumbling around you canRead MoreTheme Of Identity In The Hunger Games1636 Words   |  7 Pagesin her novel, The Hunger Games. In The Secret Life of Bees, Sue Monk Kidd displays how a community can change a person’s beliefs, therefore changing their identity. In Year of Wonders, Geraldine Brooks displays how a community can come together as one to fight against a major issue within their community. Kidd, Collins and Brooks all depict different types of communities within each of their novels. Yet each novel displays how a person’s surroundings impacts their identity, therefore changing theirRead MoreIdentity In Kidds The Secret Life Of Bees1772 Wo rds   |  8 Pages While Kidd’s novel reflects on the influence a mother has with her child, Brooks’ novel Year of Wonders uses the main character Anna, to reflect on the impact a child has on a mother’s identity. Describing her children, Anna expresses Jamie and Tom as the light of her life, in one precious moment between the three of them, even stating â€Å"‘This,’ I thought, smiling gratefully up at him, ‘this moment is my miracle’† (Brooks 71). However soon after this moment Anna’s children are claimed by the plagueRead MoreThe Importance Of Motherhood In The Secret Life Of Bees2073 Words   |  9 Pagesthe Madonna of the Black Mary. Soon Lily finds mother figures in the Black Mary, and the sisters, and only then is finally able to discover her identity. The role of motherhood in the establishment of identity takes a different path in Brook’s Year of Wonders. Anna Frith is not in fact a child, but a mother, who orients her identity around her children. At the beginning of the novel Anna is a recent widow, with two children, called Jamie and Tom. Jamie and Tom give Anna a sense of independence. SheRead MoreThe Secret Life Of Bees By Suzanne Collins2020 Words   |  9 Pagesback to their family. Either reflecting on the thought of them or their morals or, in search of hope and security. Characters within the novels, The Hunger Games by Suzanne Collins, The Secret Life of Bees by Sue Monk Kidd, and the Year of Wonders by Geraldine Brooks are each presented with a time in which they are targeted by oppression, provoking thoughts centered around their family unit in order to guide them and provide motivation through a time of brutality. Within the novel The Hunger Games