Essay about The Economy's Growing and the Standard of Living in the United States

Essay about The Economy's Growing and the Standard of Living in the United States

Length: 1481 words (4.2 double-spaced pages)

Rating: Powerful Essays

Open Document

Essay Preview

During the 20th century economy has changed and international trade has been developped. It allowed to increase our standard of living. Therefore we need to understand why countries have opened their boarder and what the impact is. To do that we need to understantd what the trade bring to us in defining the comparative advantage. After that one important point is to understand which effect the technological change has on trade. Then the main point that it’s whether trade is benefical for everyone or leads to dangerous competitveness and why this behaviour can happen like protectionims and which are the consequences.

First of all we need to define what the comparative advantage is. One obvious concept is that country’s ressources can differ from a country to another. Therefore it’s easily understandable that you can have more expenses about producing one kind of good rather that another one. Moreover we need to understand a crucial concept named opportunity cost. First to make it easier assume there is only two goods in the economy, the opportunity cost is the number of good you have to give up to produce one unit of the other good. From the difference of the opportunity costs between countries it results a comparative advantage which can offer you a mutually benefit. For example, in Switzerland you should be specialized in tourism more than agriculture because Switzerland has not much land to cultivate but much more moutnais where people can skiing.
The concept of relative term is a key concept otherwise you can be mistaken with the absolute advantage which does not take into account the relative wages and prices. Even if a country has an absolute advantage in both of goods, it doesn’t mean that you can’t have a comp...


... middle of paper ...


...f the ressources. World trade is not a competition. In fact the state of mind will conduct to the protectionism. And the theory of the comparative advantage have shown us that with trade every one raises his standard of living . The fact that the traditional ressources are not the same anymore doesn’t affect the international trade. It just changes the point of view. On the whole of course for policians it is easier to show a programm that talk about competition because everyone is a bit patriotic but we need to take care in what way we are using it. Countries have to work in cooperation and coordination. With this state of mind you would be able to raise the social and environment standards of everyone. For this reason the understanding of the comparative is key factor. Trade conducts to expansion of the economy’s choices and that increases your standard of living.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Population Growth and Standard of Living

- Population Growth and Standard of Living Recently, the human population on this planet surpassed an amazing milestone. In the year 2000 it hit 6 billion, and without a sign of slowing down, continue to increase at an unprecedented pace. After taking nearly 3 million years to reach our first 1 billion, it has taken us only 11 years to raise our population the most recent billion (from 5 to 6). This rate of growth can be graphically interpreted as a J-shape pattern. If the past is any indication of the future, this means that while our rate of growth is high right now (a net increase of almost 87 million annually), it will continue increase to no end....   [tags: Environment Environmental Pollution Preservation]

Powerful Essays
957 words (2.7 pages)

English As A Standard Language Essay

- diminishing. It is hard for the Navajo and Cherokee children to express their culture because they learn English is school and not their native language. Generations will eventually fade out, and there will be no Navajo and Cherokee people if English becomes a standard language. We need to keep their history alive, so the spread of new cultures swarms. English becoming the official language would hinder assimilation for immigrants. Being an outsider in the world is terrifying enough; immigrants should not be demanded to learn English if they do not want to....   [tags: United States, German language, European Union]

Powerful Essays
836 words (2.4 pages)

Growing Labor And Environmental Regulation Essay examples

- Growing labor and environmental regulation in the United States are increasing production costs and causing profits to decline. This issue has forced our competitors to dislocate their operations to less developed countries in order to save on costs, and we should follow similar steps if we want to stay competitive in the market. Out of the three countries suggested by Ms. Smith, Mexico seems to be the most viable choice given the low labor costs, lax environmental regulations and the close proximity of the country compared to the other two options....   [tags: Employment, United States]

Powerful Essays
1503 words (4.3 pages)

Immigration And The United States Essay

- Immigration has played a major role in the economy of the United States, creating both deficits and surpluses in the U.S. economy. Arguments have been made that immigration brings more negative effects to the United States economy than it does positive, whereas on the other hand, people claim that immigrants have taken a major weight of the economy of the U.S. and has even allowed the economy to make significant growths. Considering the fact that the total accountable population of the U.S. is said to be made up of approximately 13% of immigrants, many arguments have been made for and against the entrance of immigrants into the United States....   [tags: United States, Economy of the United States]

Powerful Essays
2031 words (5.8 pages)

Essay on Growing up under the Influence of Two Opposite Worlds

- I am growing up under the influence of two absolutely opposite worlds: Vietnam, an Asian developing country with immense fields and a lot of urbanizations, was where my life started; and the United States of America, the paramount country in the world with huge cities and good living standard, was where I was mature. In Vietnam, I learned to share the compassion and to help people; then I came to America, saw things in the world under a different point of views, and absorbed many meaningful ideas about individualism and personal achievement....   [tags: Vietnam vs United States cultures]

Powerful Essays
743 words (2.1 pages)

Immigration From The United States Essay

- Over the course of the 1900s, immigration from Europe to the United States was a huge step to take to become free. The idea of immigration was very appealing to many because the lifestyles were so rough, and the income to support a family was very low ( ). Although the anticipation of arriving in Ellis Island was beyond imaginable, the immigrants often came across many hardships, making the journey to freedom difficult. Immigration to the United States in the 1900s was a challenge due to unrealistic expectations of a better life, the hardships faced during migration, and the uncertainty of the inspection process once arriving to Ellis Island....   [tags: Immigration, Immigration to the United States]

Powerful Essays
1787 words (5.1 pages)

Minority Groups Within The United States Essay

- There are quite a few different minority groups in today’s society. Minority groups are all unique in there own way. With groups rapidly growing as well as groups decreasing in size minority groups go through change in areas like discrimination, society, and within the criminal justice system. Discrimination, society, and within the criminal justice system are all unique to different minority groups in their own ways, but most of them all have things in common as well. Throughout history and still till this day minority groups fight to be heard and represented equally in the United States....   [tags: United States]

Powerful Essays
1693 words (4.8 pages)

Federal Miniumum Wage is the Standard in Uunited States Businesses Essays

- The federal minimum wage in the United States has served as a standard by which businesses and employers alike have to abide by when dealing with finances and the way money is distributed and paid out to federal and non-federal employees. The minimum wage has essentially set a fixed limit as to how little employees can earn, and through this, has set a limit as to what the minimum annual salary is in the country. Nevertheless, the United has had issues regarding how the minimum wage is administered and how, when, and where it should be raised in order to accommodate for the higher cost of living, growing prices, increasing inequality, and in some cases, a weakening economy....   [tags: money, household, econonomy]

Powerful Essays
1162 words (3.3 pages)

It Is Difficult Growing Up with 2 Languages Essays

- I was living in the western part of Ghana. During the early 90s my parents migrated to the United Kingdom, whiles I was left in Ghana to live with my aunty. I had the privilege to learn English. As Twi been the most common language spoken in Ghana I was very glad to learn English as I knew that I would be joining my parents soon in the UK. I came to join my parents four years after they migrated. I knew starting school would be a challenge, so my parents got me a personal tutor to help me boost up my English speaking and writing....   [tags: ghana, english, education]

Powerful Essays
934 words (2.7 pages)

A Growing Nation Essay

- A Growing Nation At the turn of the century many things were happening that would affect America in ways that would have never been expected. The 1900-1940 era would have truly been an exciting time to live in. Over these four decades Americans would face some of the most difficult, and demanding trials in America's history. These decades helped to firmly establish the American identity and without them America would be vastly different. When looking at how these four decades helped to establish the American identity one must look at the events, and the economy....   [tags: Papers]

Powerful Essays
1187 words (3.4 pages)