Category: Economic Problems

Background of the Welfare State: The welfare state like the socialist State is a reaction against capitalism. The evils of industrialisation like long hours of work, unhealthy surroundings, accidents, low wages, exploitation of women and children workers, slums, inadequate supply of pure water, absence of drainage, accumulation of garbage on the streets and environmental pollution forced the State to take legislative measures to remove such evils. ADVERTISEMENTS: These efforts of the State gave birth to the idea of the welfare State. In England, trade Unions played an important part in developing the ideal. The First and Second World Wars gave rise to gigantic social and economic problems whose solutions required the guidance of the State. Rapid industrialization, urbanization and many other social and political problems compelled the State to interfere…

458 words essay on newspaper and its uses. Newspapers are powerful means of communication. They are important medium of mass communication. They are good source of knowledge and information. They are found all over the world. Newspapers are published in many languages. Every morning we eagerly wait for the newspaper to come.Newspapers cater to the needs of various sections of society. A newspaper has great influence on society. It shapes public opinion and influences government policies and decisions. In a democratic society, they play the role of the guardian of the rights of the people. They serve as a link between the government and the people. They raise voice against the cruelties committed on the people. They reflect and mould the public opinions. ADVERTISEMENTS: Newspapers have great educative value. Newspapers…

Short essay on India’s Population Problem (free to read). In 1947, partition brought for India very little cultivable land and millions of mouths to be fed. From the very moment of Independence, it was realised that India is an over-populated country.In 1947, partition brought for India very little cultivable land and millions of mouths to be fed. From the very moment of Independence, it was realised that India is an over-populated country. According to 1981 census, India’s population came around 68.38 crores and now in 1998 it is about 95 crores.The alarming and incessant growth of population is causing serious economic problems. The more people will be the harder will it be to feed them all. This is the only reason why, in spite of a very good crop, the…

Essay on Resistance to Social Change – Though social change is universal, societies and cultures are relatively permanent. The social and cultural functions do not change ‘overnight’ even in the most dynamic populations.Certain resistance to change is there everywhere. In no society all the changes are welcomed by the people without questioning and resistance. To some extent the removal of the evil practices such as child marriage, human sacrifice, animal sacrifice, untouchability, taboos on intercaste marriages, etc., could be achieved after a long struggle in India.The opposition to woman suffrage in the United States lasted for more than fifty years, and the opposition to the abolition of slavery was accom­plished only after a prolonged civil war. It was only in the beginning of 20th century that women were given voting…

Ever since the economic crisis has hit the most developed and prosperous economies of the world, there have been experts trying to research and suggest all that went wrong. It is indeed comparable in magnitude with the Great Depression of the 1930s.The turmoil began in year 2007 when financial institutions of large scales were threatened to face a total collapse. Many banks saw bailouts by national governments and stock markets across the globe went into bad state. The two bears Stearns Hedge funds collapsing in the summer of 2007 were categorized as mortgage crisis. This started an era of credit crunch, private defaults and huge layoffs in organizations.Globalization spread the crisis across the world and media began to cover it extensively. Writers and economy experts sought several reasons responsible for…

Robbins had made Economic more wide in scope and scientific in outlook. Wherever we find a problem of choice has to be made we can say that it is an economic problem. Adjustment of unlimited wants to limited means of varying uses to get the maximum is the universal law of economics like laws of science.In spite of above contribution of Robbins in the field of economics, he is not free from criticisms which have emerged on account of rapid economic progress and increasing scope of economic aspects. The main points of criticism are discussed below, which led to further modifications in the definition of economics. Image Source: energyevolutionhealing.com (i) Welfare concept: ADVERTISEMENTS: It is generally pointed out that Robbins has said much against the welfare but it is a…

According to Kenneth E. Boulding, “Macroeconomics is the study of the nature, relationships and behaviour of aggregates of economic quantities…”According to P.A. Samuelson, “Macroeconomics is the study of the behaviour of the economy as a whole. It examines the overall level of Nation’s output, employment, prices and foreign trade.”The definitions given above and a few other similar definitions capture the central theme of macroeconomics but they do not fully capture its subject matter. As stated above in the introduction of this chapter, macroeconomics covers a wide range of economic activities and the related theories in respect of the lumped or the aggregated units or of the economy as a whole, as to Image Source: 2.bp.blogspot.com ADVERTISEMENTS: (a) How they generate and spend income through production of goods and services,(b) How…

The people of India made intensive efforts to stem the rising power of Islam for a long time in its north-west frontier. The invasion of the Arabs remained confined only to Sindh and Multan but by the time the Turks started invading Indian Territory, the defenses in the north-west had collapsed. Image Source: cdn.historydiscussion.netAlthough attempts were made by the Hindus to defend their country, they failed disastrously against the foreign invaders, the Turks. Historians are divided on the issue of the reasons of the defeat of the Rajputs. Moreover, the contemporary chroniclers have not highlighted the causes of defeat of the Rajputs, hence the scholars of modern times have expressed their views of their own accord. ADVERTISEMENTS: It is really surprising that the Rajputs, who were brave fighters and competent…