Economics in One Lesson By Henry Hazlitt Essay example -- Economics in

Henry Hazlitt’s book, Economics in one lesson, brings to perspective numerous topics that are mainstream issues in the economy today. His book breaks down in detail specific concepts that have their effects on the economy. Hazlitt explains topics such as war and the expenses, the tariff system, and productivity and the minimum wage laws.   Ã‚  Ã‚  Ã‚  Ã‚  One concept Hazlitt emphasized on was how economics was viewed for temporary needs, versus more permanently viewed.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"In addition to theses endless pleading of self-interest, there is a second main factor that spawns new economic fallacies every day. This is the persistent tendency of men to see only the immediate effects of a given policy, or its effects only on a special group and to neglect to inquire what the long-run effects of that policy will be not only on that special group but on all groups. It is the fallacy of overlooking secondary consequences† (Hazlitt p15-16).   Ã‚  Ã‚  Ã‚  Ã‚  This simple fact that Hazlitt brought up is the dominating factor that separates good and bad economics. A good economist will look at the effects a certain policy will have on all groups, while a bad economist will only see the effects that a policy will have on a particular group. This ties in with the long-run effects because if a group is only looking at how a policy will affect itself then in the future another group that was affected could lose their business because of the way the first group viewed a policy. For example if a clothing company decides to increase revenues by selling more products at a lower price, it will cause the company that has to supply the materials for the shirt to have to increase the amount of materials they need to use in order to keep up with the sales the clothing company makes. If the shirt company acted in the best interest of all the groups they would make sure the company that is supplying the materials is able to increase pr oduction instead of making the decision on their own. The bad economist believes that tomorrow is not as important as what is at hand today. â€Å"Nine-tenths of the economic fallacies that are working such dreadful harm in the world today are the result of ignoring this lesson. Those fallacies are stem from one of two central fallacies or both: that of looking only at the immediate consequences of an actor o proposal, and that of looking at the consequences only for a particular g... ... that were not as clear, and not as strong. The broken glass itself is not a blessing, but because it helps the economy overall, that can be a blessing. Hazlitt made a good point explaining this in great detail. He also thoroughly explained how war does increase production but only to the point where everything goes back to normal. Jobs do open up for people as long as there is war, but as soon as it is over the economy usually goes right back to where it started before the war. Hazlitt also made a good point about employment and how full employment does not exactly make the situation better for that person because there are many institutions that have full employment and there are no benefits for the employer. In dealing with credit system, Hazlitt pointed out how a person that is having trouble economically seems to have a better chance to get yet another loan that will most likely not get paid back, as opposed to a person that can pay it back immediately does not usually recei ve one at first glance. Overall Hazlitt did a great job, especially emphasizing on the long-run economics as the best way to handle things and not the short, quick, and temporary way of handling business.

Prezi Reflection

Prezi Reflection and Review The entire process of creating and presenting the Prezi was a huge collaborative learning experience for me. Time management was one of the greatest challenges we faced throughout the creation process. As a group, we had to find non-clashing time slots in our schedules in order to meet and design a layout for our project. After brainstorming and designating four major areas of interest for each team member through texts and emails, we made an appointment at the CommLab. One of the English professors helped us with learning the Prezi interface and facilitated the designing of the structure for our Prezi.The toughest challenge our group faced was to maintain coherence throughout our project. This was intrinsically difficult because our group focused on the diversity of reality and thus we went into very unique branches of thought such as Fundamental Science, Politics, Art, etc. Later on, Professor Harkey gave us valuable feedback as to how to orient our visu al structure in order to achieve maximum engagement and coherence. Everything started to fall in place when we created a linked Prezi which allowed all four of us to access and edit the group’s Prezi simultaneously and independently at our own convenience.I would say this is one of Prezi’s greatest advantages over other presentation softwares. It was incredible for me to log onto our Prezi presentation at say 11:30 p. m. and see my teammates adding content. I could literally see the Prezi grow radially building up with more connections between major areas of interest. It was tough not to get sucked into one of my partner’s chain of thought as he or she was dynamically appending the presentation. However, these distractions proved to be beneficial when we began texting each other while observing each other’s contribution.Creativity manifested itself in the minor changes we made while we were working on the presentation together. Technology seemed to overpo wer obstacles such as distance and time and it gave us a feeling of control. It created a hyperreality by almost convincing us that we were working in the same room together. Our group was assigned to review group Foxtrot. The major question they tried to answer in their presentation was â€Å"what is realness with reference to the real world? † In terms of their organization, they followed a very simple structure comprised of concentric circles.This made it easy for the audience to follow along in a sequential manner but I feel they slightly underutilized Prezi’s capabilities. For each subtopic, they were able to present a well justified argument in their view. I felt they could have enriched their presentation in this aspect by justifying their claims through more perspectives. One good example of the multimodal approach can be found in their presentation. They first used a video with text alone showing the dialogue from the movie, The Matrix. Then, they played the a ctual piece containing that dialogue.Thus, it was an instance where they mixed oral, visual, and non-verbal modes quite fluently. The unique aspect about their presentation that distinguishes them is the fact that they relied on verbal communication relatively more than any other group in our class. Thus, one is inclined to believe that their presentation is brief when viewing their Prezi independently although that is not the reality. The very act of focusing their presentation orally to create a discussive environment shows a good deal of Rhetorical Awareness. They could have achieved a better sense of balance in this regard by distributing the time each member spoke equally.Overall, they did well in all these different areas of evaluation. They especially did well when you take into account that their presentation was broken into two pieces due to time constraints and they were one member short during the presentation. I can clearly see that the entire Prezi assignment has helped both of our groups attain some clarity on the different issues that â€Å"realness† brings up. It has also given us a better understanding of how different modes can be used to create different responses in the audience with the same content. The Prezi assignment like I said before has truly been a great learning experience.

Welfare Should Be Temporary. Essay - 680 Words

Public assistance is a broad term for the many programs that are meant to help lift people out of poverty and hard times, yet some people abuse these programs and find ways to stay on public assistance for the long run. The solution to all the problems they cause is not hard to find. Welfare should be temporary. One of Americas biggest misconceptions about public assistance is that of people on welfare. Rita Jensen, an investigative journalist in New York city and a former welfare recipient states that, [W]hen one says Welfare mother the listener hears black welfare mother. This is a skewed perception that leads to an ongoing underlying racial motive against the welfare program. In general, when speaking about welfare most†¦show more content†¦One is the tax burden of low wage work . . . The cost of childcare . . . [and] the cost of medical care. It seems that the welfare program sets itself up for fraud by not providing enough help for its recipients. One of the biggest ways to prevent this fraud is by informing people when they apply for assistance of all of their options. For example, when a single mother is looking for help to provide for her children and finish college, the welfare agency should provide her with the information on how to apply for a pel grant, and ways to contact government-funded child care programs. The solution to welfare fraud seems simple. The public assistance agencies need to work together. This will help to eliminate the need for welfare fraud, and help the mother get to a position where assistance is no longer needed. Helping educate welfare recipients should be the biggest issue in welfare reform because it leads people to a better future and gets them off welfare. Jensen recalls, My life on welfare was very hard--there were times when I didnt have enough food for the three of us. But I was able to get an education while on welfare. 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