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THE WORKING THEORY
The working theory framework emphasizes land management efficiency, land economics, land-use evaluation, land-use technologies and methodologies, land markets, and land use regulations and policies.
Land use evaluation criteria will ensure that land performance is assessed for specific purposes (transport and housing infrastructure, agriculture, recreation, water management, etc.), for consideration in executing and interpreting land use surveys.
Efficient land management will entail using integrated models, methods, and classifications, sequential evaluation procedures, and indicator systems to determine proper land use.
Technologies in land-use governance will include consolidation and rehabilitation technologies, ecological planning and design of landscapes, and land information system for optimal land utilization.
Australian land authorities should regularly update land use regulations and policies to ensure they support ethical practices in land markets (land buying and selling).
Land-use policies and regulations will be revamped to ensure ethical zoning, regional physical development, and efficient land resource usage.
Land economics will encompass land availability, prices, demand, consumption, and competition and their influence on land-use distribution, nature, and patterns.
Witch and We the People
The Witch and We the People
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The Witch and We the People
The article The Witch and We The People follows the events taking place in Philadelphia in 1787. At the time, Philadelphia was unquestionably the capital of the United States. It was a large city home to many noble and respectable people. The city had a rich history and is the city where America gained independence. In the year 1787, world leaders including George Washington, Benjamin Franklin, and James Madison, among others gathered for a Constitutional Convention. All day, the men met and discussed ideas on creating a solid government and kept diaries of all they believed and discussed. It was barely less than a century since the Salem trials took place in 1692 and rumors about witches had diminished.
Believing in witches was seen as a silly superstition as not everyone believed in them. 1787 was the age of Enlightenment, but still, people held prejudice concerning witchcraft.
The deaths of children, dogs, horses, and the citizens of Philadelphia was blamed on witches. One such witch was a German lady known as Korbmacher or the basketmaker. She was being persecuted as she had been accused of being a witch. At the time, witchcraft was not recognized by the law and the Church too did not consent to violent rituals that members of the public subjected a convicted or suspected witch. In Places like Philadelphia, the practice of witchcraft was perceived as an evil that had to be destroyed. As such, Korbmacher went through numerous violent attacks inflicted by a mob. She suffered embarrassment and was dragged through the streets and was insulted by the people. As if that was not enough, she went through violent beatings until the day a newspaper reported her death. Eventually, a trial was made, and various people found responsible for her death were punished. However, the injustice against suspected witches has still not been addressed properly.
Edmund Morgan, the author of the article, tries to argue that witchcraft was not being prosecuted anymore, the fear in people’s minds notwithstanding. For this reason, the author uses the cutting on the forehead and trial by water as avenues of punishing suspected witches. The German witch Korbmacher is dragged in embarrassment through the streets, and a few days later, she is found dead. The older woman accused of causing various diseases realizes that she will be turned the victim and resorts to authorities, but the people’s rage against her is too intense. The author emphasizes the irony behind the notion of democracy and its negative effect on people if they are not prepared for it. The author shows the contradicting events taking place in Philadelphia at the time. There were various individuals taking part in the Constitutional Convection, devising ways to deal with democracy in the country at the time. At the same time, a section of the city was carrying out violent actions that contradicted the ideals of the Constitutional Convention. Democracy at the time depicted the savageness that people held against a woman accused of witchcraft. The author points to the fact that enlightenment has not reached culmination during the time of the drafting of the constitution and that there was still a long way to go. The fact remains that women were labeled as witches because of superstitions. This should not have to be the case and it should not occur in a civilized society. The article points to the need for a constitution and its role in enlightening society. The author emphasized that innocent people often suffer and are blamed for things they had no hand in. The author argues that displaying democracy in this kind of way is wrong and life-threatening. In essence, the author tells a story of America’s history and the significance of justice for the people.
My thoughts about the article are that society needs to take action to prevent the death of people that are labeled as witches. Although the law did not recognize witches at the time, they should have done something to prevent the death of women who had been branded witches. Drowning people suspected of being witches is an inhumane way to treat people. The Church too, did not help the situation; it should have condemned the acts of mob justice and instead used the proper channel to convict suspected witches. Without a doubt, in Philadelphia, there were even worse criminals who continued to roam the streets freely. While others were in chains, such kind of punishment would have been better than murdering witches without convicting them. The article showed me that democracy is not always what it seems. It is not always the people’s rule by the people; instead, it can have dire effects on the people. While it represents the general will that people would want implemented, sometimes considering the majority’s will is not such a good thing. At times, the majority might be wrong and it might cost an innocent person their life. The people accused of practicing witchcraft and causing death to the children and animals might have been innocent because witchcraft is just a superstition at the end of the day. As such, the maltreatment, dragging the suspected witches thorough the streets and drowning them in water is unacceptable. At the time, had the Constitution Convection been successful in designing a law, then the lives of these people would have been spared because there is a chance that they might have been innocent after all.
Two Branches of Macro-Economic Theory
The Two Branches of Macro-Economic Theory
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The Two Branches of Macro-Economic Theory
Introduction
Perhaps the most divisive area of economics when applied to macro- economists and political decision making can be considered to be the field of Macro-economics. It is critical since it often leaves the two divided into different schools of thought. Since the end of World War II the economic landscape has been dominated by ideas of Friedrich von Hayek and John Maynard Keynes. These influential economists both had distinct ideas about economic freedom that are in contrast to each other but they have contributed significantly in shaping the global economic landscape. With this overview the article will seek to expand more on the Keynes and Hayek ideas, while also analyzing how they impacted different policy makers.
Policies that Keynes and Hayek advocated
According to the Keynesian ideology of the economy they believe that the decisions often made by the private sector lead to the macroeconomic outcomes being inefficient. Therefore, the theory advocates for public sector early policy responses that include fiscal policy interventions by the government and monetary policy actions by the central bank to stabilize economic output over a business cycle (Caldwell, 1998).
On the other hand Friedrich von Hayek, ideology believed that the free market price system is an efficient system that can effectively coordinate people’s actions, and in addition due to the gradual spontaneous orders over time due to the economic exchanges between people the markets are created. Hayek believed that any interference with the spontaneous order of free markets would distort their efficient operation since they were highly organic in nature.
The main difference between the two ideologies include Keynes suggesting that when it comes to markets that it is necessary for government to intervene, while Hayek believes in little if any government involvement since he advocates for a free market. On monetary policy Keynes believes it plays a major role in aggregate demands and stimulating the economy. Keynes’ solution rather focuses on government spending. In opposing this Hayek is rather adamant on the monetary policies, since he believes that boom bust cycles are results of its implementation. After a recession Keynes suggests fiscal policy to help the pump to prime recovery, where the economy is propped up through the government stimulus packages. Such interventions are opposed by Hayek on the grounds of preventing interference on the market processes. Hayek on the other hand is strongly opposed to such interventions (Cochran, 2011).
With the above analysis of the two economists, I believe the one Hayek proposes is more ideal, since according to him the free reign or less government interference grants more economic freedom, and with that choice the economy would be more efficient. I can argue that there is no economic calculation under a central planning and from this perspective their decisions would not be effective in utilizing the resources, since there initially never was a system to price the alternatives. Meaning the central planners cannot make economic decisions only technical ones, and this makes Hayek more viable.
Why it will affect the US
Some of the main reasons that made people believed the U.S would be affected include facts like the financial markets being linked, and this means that whatever is happening in the financial markets in Asia could directly affect the U.S markets. American companies and banks are significant investors and lenders in the region, in terms of U.S company’s subsidiaries, bank loans and financial instruments investments and this would affect the economy. The U.S. exports and imports were also being affected by the turmoil, as well as the value of the U.S. dollar, and the countries capital flows. These all directly affected the U.S. economy making people come to that conclusion.
Dealing with 2008 crisis
It was important for the Congress and Fed to coordinate fiscal and monetary policy measures to address the 2008 recessions, since through their integration they expanded the countries fiscal policy which intern affected the rate of inflation and consequently increased the aggregate demands in the economy. This affected the entire government capacity due to the new monetary policy stand to finance the budget deficit by expanding or limiting the available sources of financing and by the cost of the debt service which all helped address the 2008 recession.
Comparison of the Rationale of the tax cuts
The 1964, Kennedy-Johnson tax cut, the 2001 George W. Bush tax cuts and the 1981 Reagan tax cut, if compared all show that it can be costly to a country to implement an ideological approach to the tax cuts without first taking its broader economic circumstances into account.
According to economic indicators on the 1964 Kennedy-proposed tax cuts they suggest that even though they apparently had a down side, they were still effective and they helped with the revitalizing the economic thus justifying its implementation. The stagflationary economy that President Ronald Regan inherited, acted as the basis for his implementation for taxes cut in 1981 that over the next three years took effect, even though they also recorded a good growth response to the tax cuts and addressing the inflation a common factor between these two cases is that they were too generous even though their conditions were prime for the tax cuts, even with the robust growth of the economy there was still increase in national debts and persistent high deficits.
By 2001, as George W. Bush took office the GDP were slowed down by the previous government’s expansions, therefore, the economic case for tax cuts wasn’t overly compelling. Due to this Bush saw that the Americans needed tax cuts since they were being overcharged. The Bush tax cuts presumably were meant to reignite growth in the U.S. without affecting its employment and position fiscal, which later dramatically deteriorated (Sanz-Bas, 2011).
This analysis shows that if the rational for a tax cut is right and it is properly designed like in (Kennedy-Johnson), it would have positive impact. On the other hand if it isn’t well calibrated but it still has right context (Reagan) it often leaves mixed results regardless of the justification. If the design and economic context aren’t both right (Bush) it would be disastrous to justify implementing a tax cut.
Conclusion
From the experience of the Great Depression, economists learned much, and today most economists advocate for governmental roles in creating economic stabilization policies. Although economists may disagree about timing or strength of the tool to be used or on which particular tool is most appropriate most economists however recognize the advantages of using monetary and fiscal policy for the prevention of depression and extreme inflation in the economy.
References:
Caldwell, B. (1998) Why didn’t Hayek review Keynes’s General Theory, History of Political Economy, 30:4.
Cochran, J. P. (2011) Hayek and the 21st century boom-bust and recession-recovery, The Quarterly Journal of Austrian Economics, Vol. 14: 3.
Sanz-Bas, D. (2011) Hayek’s critique of the general theory: a new view of the debate between Hayek and Keynes, The Quarterly Journal of Austrian Economics, Vol. 14: 3.