Current Event Perspective Term Paper Example | Topics and Well Written Essays - 1500 words

Current Event Perspective - Term Paper Example taxpayers of about $124 billion, the colossal corporate scandals of Enron, Tyco International, Adelphia, Global Crossing, WorldCom and others, the dot.com bubble between 1995 and 2001 and the 1998 Long Term Capital Management (LTCM) hedge fund fiasco. Their argument is that the corporate world has been heading down a dangerous path for more than 20 years while governments, regulators and the society failed to put the necessary checks to stop the big disaster that was looming. In short they are saying that we are now facing the consequences of our actions. Smiths contribution to the study of Economics lay primarily on his demonstration of the interdependence of the different segments of the economy and of the policies to be followed to promote the wealth of a nation. He advocated for competitive markets without government intervention on the assumption that natural process within the economy have the ability to resolve conflicts more effectively than any arrangements developed by man. From his book we get the following famous quote: With competitive markets and an absence of government regulation, the resulting natural prices bring about an optimum allocation of resources in that consumers receive the goods they want at the lowest possible cost and maximum rates of growth are ensured (Smith, 2009, p.24) Smith essentially was saying that self interest + free markets + deregulation results in prosperity for everyone. The global financial crisis has taught us otherwise. It has taught us that unrestrained capitalism that is obsessed with self-interest and is unconcerned about the long-run, can lead to monopoly, inequitable distribution of income, unemployment, and environmental disaster (Pitelis, 113). However we cannot put the blame on Smith considering that he was speaking in the 18th century when the context of Economics had not yet experienced the industrial

History of Germany Essay Example | Topics and Well Written Essays - 3000 words

History of Germany - Essay Example This stance humiliated that nation brisling with ego, and became one of the many reasons for the Second World War. After the Second World War, the reluctant participant United States, emerged as the super power, and dictated her terms to war-weary countries of Europe during the end stages of the war. European countries had to accept all the demands of US most of them willingly, some of them with reservations. A comparison between French demands after First World War and US demands after the Second World War, and in this comparison, we find that more of contrast lay in the altered circumstances. France acted purely on an instinct of her national survival, whereas US had hidden her intentions. France needed Germany to be humiliated and pay back for her foolhardiness, whereas US acted mainly on her self-interest with an additional desire to see Europe and the rest of the world secure without being plagued by further wars. This intention is rather remote compared to self-gratification. After Second World War, Germany was no doubt treated badly, but was made to feel that she too is one of the European countries. Even though the persecution continued for a long time, other nations and US (mainly during Kennedy regime) were ready to forgive and forget the past. The self-interest of United States was acutely apparent in every demand, be it about European countries, territory of maintenance or military presence in Europe, it had shades of world welfare in it. At least it was presented so. In comparison, we can state that both countries needed to create a war free secure future and acted with that appreciable instinct and desire. France might have been a little undiplomatic, but we say that with the benefit of a long hindsight. US has fared better and built for herself and others a much better future, while keeping German resurrection under check, without depriving Germany much of her dignity.================= ESSAY: French demands after the First World War and the American demands after the Second World War have been compared and contrasted many times by historians. Even though French demands are known to be more aggressive and thoroughly vindictive, they had a short term affect, while the American demands after Second World War, solicitous to Europe, were well calculated and had a very long-term results. Perhaps eventually, it led to the formation of a European Union. United States of America, without Europe on its side, is a bit of loner, a kind of world bully. America and European countries have helped each other over the years. In both cases, Germany was victimised with good reasons, and with the hindsight, Germany has shaken off her past and is a confirmed democratic nation today. Europe was dominated by America and her demands after Second World War and later, some regions, by Soviet block. Prime Minister Georges Clemenceau rightly said, "Yes, we have won the war and not without difficulty; but now we are going to have to win the peace, and that will perhaps be even more difficult". Perhaps France, suffered more than any other country in Europe from the First World War and was determined not to put herself in such jeopardy again, and this resolve reflected in her demands after the world war. One look at the sacrifices made by France, her loss for no fault of hers, her sinking low in the ranks of world powers entirely due to war, no one could blame her for being vindictive or