Minimum wage madness - 0 views
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Zuzanna G on 17 Nov 13This article discusses the relation between minimum wage laws and unemployment.
India plans to widen the scope of price controls on pharmaceuticals
India Plans Price Controls on Patented Drugs - WSJ.com - 0 views
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The new proposals would extend price restrictions beyond generic medicines to apply for the first time to patented drugs
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The plans come as Bayer AG BAYN.XE -0.17% Bayer AG Germany: Xetra €94.89 -0.16 -0.17% Nov. 15, 2013 5:35 pm Volume : 2.67M P/E Ratio 25.24 Market Cap €78.47 Billion Dividend Yield 2.00% Rev. per Employee €363,176 10/31/13 Bayer Boosted by New Drugs 09/13/13 Bayer Under Scrutiny in China More quote details and news » BAYN.XE in Your Value Your Change Short position is fighting an order from India's patent authority that required the Germany company to issue a license allowing an Indian generic-drug company to sell a less expensive copy of Bayer's patented cancer drug Nexavar.
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The article explains on how India are planning to put price controls on their drugs making them go for lower prices so that people can afford them.
Venezuela businesses brace for more price controls - 0 views
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Jorge Botti, president of Fedecamaras, said the Law for Fair Costs and Prices will spook investors looking for wider profit margins and cause shortages of basic goods because makers of numerous products will likely scale back production.
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He said sweeping price regulations applied to goods and services in every area of Venezuela’s economy will inevitably hurt businesses already struggling with socialist-orientated policies established by President Hugo Chavez.
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While price controls already exist for some basic foods such as cooking oil and rice, the law taking effect Tuesday will extend them to a wider range of goods and give the government more enforcement authority.
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This article is about trying to bring down the inflation by imposing price controls for food, personal hygiene, home cleaning products, construction materials, automobile parts, medicines and health care services. I personally did not like this article since there were very little explanation of why things would occur. It was just stated one person thinks this will be a good idea, and another person thinks it is a bad idea. Nothing about why they think so.
Unpriming the pump - 0 views
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This article discusses how the politician in Indonesia are raising the price of fuel at their peril. I chose this article because it discusses some of the arguments which touched in this chapter as for example price controls and subsidies.
Price Controls Cause Chaos in Ethiopian Markets - 0 views
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I choose this article as I found that It demonstrates all the consequences of a price control and from different points of view. In this case, the government set a maximum price. A lot of the citizens were very happy, as they can now afford what they couldn't before, however, with time, they started to realise that the products are disappearing from shelves. The reason is that with the lower price, demand has increased and suppliers can't supply more. The suppliers were affected by this price control too. They are not able to pay their costs any more, and profit made is very little. If the government doesn't take another action to fix what they did, they will have a bigger problem than food being expensive, which is food not exciting due to most groceries closing after not being able to make profits.
Venezuelan President Maduro 'to expand price controls' - 0 views
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This is present event which is highly connected with price controls. The Venezuelan President is supporter of this policy and even used army to make sellers low their price. The sellers of electronics wanted to increase the prices due to the fact of inflation.
Venezuela to toughen price controls, set profits - Yahoo News - 0 views
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CARACAS, Venezuela (AP) — Venezuelan President Nicolas Maduro is extending price controls and will place limits on profits as he extends attempts to curb the galloping inflation that is eroding support for his rule.
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Maduro made the announcement in a late-night television address Sunday in which he also vowed to step up inspections of businesses selling shoes, clothing, automobiles and other goods to make sure they aren't gouging consumers.
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In Venezuela, the president Nicolas Maduro has extended price controls to prevent the inflation that is (against) support for his rule. "We can't allow our hard currency to be used to rob people through the sale of these goods." he harangued businessmen he accuses of usury. This article relates to price controls and politics, and shows how price controls might look like when a country is ruled by dictatorship.
Venezuela: State imposes price controls - 0 views
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This article shows us that Venezuela wants to introduce a maximum price for electronics, hardware and clothing
Price controls make a statement about society - 0 views
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The author discusses the problem of shortage and other negative effects caused by regulating prices. He also charaterize people who argue that price controls are beneficial. The society, according to Art Carden, determines whether to use aforementioned regulations or not, and therefore should not be proud of making utopian schemes that in reality are detrimental.
Price Controls on Gasoline - 0 views
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This article is about price controls on gasoline. Gas prices have risen by 14%, this is due to rising oil prices. The price controls imposed on gas leads to a shortage of gasoline and rationing by the government. Also, black markets are likely to form and people will buy at very steep prices due to the price controls.
Rice Subsidy in Thailand causes Debt - 0 views
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drop its multibillion-dollar rice subsidy program and scale back
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make room for spending on projects that enhance growth
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stimulate spending in rural areas and support Thai farmers
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This article describes how the government is trying to stimulate the rice market in Thailand by buying rice and placing subsidies on it. These major investments, however, are causing debt for the government, and prevent the government from investing in other projects.
Coal subsidies 'should' end in 2014 - 0 views
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The author discusses the problem of coal production, greenhous gases emissions and subsidies that are in use because of many ordinary employees who when fired can make a strike. There is also a detail that can draw one's attention - the article is outdated (it was written in 2010). The main thesis reflected with reality is probably false since coal subsidies are still popular.
Would 'Very High Taxes' Keep Unemployment Rates Low? - 0 views
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This article discusses the fact that whether high taxes may keep unemployment rates low or not. It relates to what we studied because we discussed the effects of Taxes and unemployment is one.
ECF Asks Vietnam to Look Into Coffee Tax Dodge Before Next Crop - 0 views
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This article talks about how buyers of coffee in Vietnam are dodging to pay the excise tax plaxed on coffee.
Help-to-Buy: George Osborne makes major concession | Heather Stewart | Business | thegu... - 0 views
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Subsidising high LTV mortgages in boom-bust UK housing market was political masterstroke – but economic madness
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The centrepiece of this year's budget, Help to Buy was a political masterstroke, pumping up public confidence just as many potential buyers were thinking about returning to the estate agent's, and helping the government to claim credit for an upswing in the property market that had already been kicked off by the Funding for Lending Scheme.Economically, however, Help to Buy is madness, as the Treasury select committee, the International Monetary Fund and the outgoing governor of the Bank of England all lined up to say.
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Offering taxpayer subsidies for high loan-to-value mortgages worth up to £600,000, just as the incorrigibly boom-bust British housing market is moving from stop-to-go mode, is at best risky, at worst, downright reckless.
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The "Help to Buy" was a political masterstroke since, among other things, the government got help with the claim for a credit for an upswing in the property market, helping to spark a building boom. I think, the offering taxpayer subsidies, will help allocate resources in the free market since more will get willingly to pay for houses. But this is risky for the British housing market, since the levels that would be required to keep prices stable will remain below what is needed.
U.S. be warned: Default would cause global crisis - CNN.com - 0 views
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The impact of default could be catastrophic, and not just economically. As Secretary of State John Kerry asserts, this would send a message "of political silliness" that we "can't get our own act together" so we need to "get back on a track the world will respect."
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As the U.S. partial government shutdown continues into almost a third week, the stakes are growing
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This builds on earlier studies by the organization, including in 2011-12 which highlighted "intensified speculation about America's long-term stability," partly as a result of the downgrade by Standard & Poor's of the country's credit rating. This was prompted by the last near debt default of Washington in 2011.
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This article relates to equilibrium and price mechanism because it describes changes in impacts of the market. Stakes are growing, there are "intensified speculation about America's long-term stability" due to a downgrade in the country's credit rating, and an unstable state at the "fiscal cliff". These worries and a political impasse in Washington are some impacts that has threatened negative economic repercussions in the US, moving the market equilibrium. In response to changes in price, resources are allocated and re-allocated. However, profits are still able to be made making the equilibrium more stable without excess demand and supply, due to that the US has its popular culture and economic innovation, helping the country to retain attractive qualities for many foreigners.
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I think this is a very serious matter, that could affect the world's over all economy if it goes on for a while. We can see that obviously a majority of the world's largest companies are american and based in america. If this effects any of those companies, the market they operate at will see a big change, both in the good way and the bad one.
Obama: No 'sugarcoating' problems with health website - CNN.com - 0 views
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Washington (CNN) -- An unscripted moment Monday summed up President Barack Obama's effort to downplay problems plaguing the government website used to sign up for required health insurance under his signature health care reforms.
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In the same assured and upbeat manner, Obama also attempted to discuss the myriad problems of HealthCare.gov, the website for the 15% of Americans lacking health coverage to sign up for insurance.
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"It's time for folks to stop rooting for its failure, because hardworking middle class families are rooting for its success," Obama said of the health care law.
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This is a question about price elasticity, since something needs to be improved in the quality of the website so there will not be problems anymore, often resulting in a necessary price change. Since health insurance is seemed as necessary for many and hence the responsiveness is big, the demand might not change as much in a change in price of the website even tough there are problems at the website. If there will not be an improvement of the website and the price will increase, there might be a smaller change in the quantity demanded.
Morocco government raises energy prices to cut subsidies - Yahoo News - 0 views
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RABAT (Reuters) - Morocco's Islamist government raised energy prices on Monday as it began sensitive subsidies reform needed to meet International Monetary Fund (IMF) requirements.
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Five ministers from the government's junior partner party have resigned in protest over the decision to raise prices.
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But the move could shake the frail economy of the North African kingdom which relies mostly on tourism, agriculture and remittances from Moroccans living abroad. The government said it would return part of the increase on diesel fuel to professional drivers in the goods and people transport sector to avoid a snowball effect on prices.
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This article relates to subsidies since the government of Morocco has raised energy prices to save subsidy money that is needed for the International Monetary Fund requirements. Protests have been made from the government's junior partner party over the raise in price of energy. Higher taxes for energy will cause higher price for transportation for tourists and higher costs of production for agriculture. The government though, said they will return parts of the increase of energy prices for professional drivers to avoid a "snowball" effect on prices. But is the raise in price of energy due to the save of subsidy money rational for the country, looking upon the people's use of energy and the agriculture?
Tobacco excise tax revenue almost HUF 29 billion in October - 0 views
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This article is about the effects of taxes on tobacco for the government, especially concerning the profit.
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