Essay on Financial Dependence A Problem For American...

Voltaire once said, â€Å"It is not inequality which is the real misfortune, it is dependence.† This rings true for Americans, who have a tendency to rely on others in search of solutions to our own problems. As a whole, we insist on sharing the burden, such as borrowing foreign money from countries like China to lessen our growing deficit. American businesses are similarly dependent on foreign relations, fueled by cheap labor for a greater profit on goods. On a societal level, Americans are dependent on our government for welfare and financial assistance whenever the economy crashes. Yet, the economy’s well-being is a direct result of the condition of American businesses, and federal programs like welfare are closely linked to our national†¦show more content†¦This ripple effect resulted in a reduction in production and in turn, a reduction in the workforce. The majority of the population, which was now unemployed, could not make new purchases with the little money they had, so inventory accumulated and deflation occurred. As a response to these economic woes, the American government acted quickly to provide federal assistance. Prohibition ended with ratification of the 21st Amendment, which meant alcohol could boost the American economy. The Tennessee Valley Authority Act resulted in dams that generated inexpensive hydroelectric power via the Tennessee River. The Works Progress Administration (WPA) was created to provide jobs for unemployed people without competing with private industry, focusing on constructing public buildings such as post offices, bridges, schools, etc. Most importantly, FDR signed the Social Security Act of 1935, which was an insurance that guaranteed pensions to Americans and care for those who need it most. Americans depended solely on these welfare programs to get their families back on their feet. These programs fueled the hope that there would be relief for the unemployed and poor, recovery of the American econ omy, and reform of the financial system to prevent future recessions. Welfare now refers to programs under the Social Security Act, and Americans still wholly rely on the government for aid during financial crises, such as during theShow MoreRelatedCompetitive Analysis: Buy.Com Amazon and Overstar839 Words   |  4 Pagesintelligence need to come to terms with what business and competitive analysis is and also how it works. In order to survive in such a competitive environment, a company must deliver superior customer value over its competitors. Three competitors that CanGo analyzed are Amazon.com, Buy.com, and Overstock.com. We focused on areas like personnel, products, and facilities. Amazon is an American electronic commerce company that has become an icon of internet business. The company was founded the companyRead MorePeoples Overdependence on Technology1467 Words   |  6 Pageson technology as it seeks to embrace technological advancement and innovation going forward. Indeed, the question many keep asking is; is our reliance on technology going too far? This text concerns itself with peoples over-dependence upon technology. Peoples Over-dependence upon Technology It is important to note from the onset that the benefits of technology are many and varied. Advances in technology have led to the achievement of things we could only dream of less than two decades ago. ForRead MoreThe Merger Of U.s. Airways And American Airlines1170 Words   |  5 PagesSince the merger of U.S. Airways and American Airlines, most people would now agree we are living in the age of airline oligopoly. Oligopolies form when there’s a state of restricted competition, and new companies cannot break into the industry for reasons like high-entry costs or government restrictions. This is the condition of the airline industry, today. In order to breach the oligopolistic nature of the airline industry, airlines must be able to break through high barriers to entry such as:Read MoreThe Global Financial Crisis642 Words   |  3 PagesThe Global Financial Crisis has had a huge impact on the global economy. The American housing market collapses, the house price drops sign ificantly and the bank is losing lots of money, however, people are not pursued in court for money or declared bankruptcy. People tend to spend less on the due to their houses worth less than the bank has loaned originally and some of them are still committed to clearing off their mortgages. This causes less activity in housing market and sales market, hence moreRead MoreUnited Airlines1172 Words   |  5 Pagesï » ¿United Airlines Introduction United Airlines is an American key airline whose headquarters is based in Illinois Chicago. The United airline operates mainly in the United States and across other regions such as such as Japan and Guam. The airline handle and average of about 45,000 passengers on daily basis and employs over 88,000 individuals. SWOT ANALYSIS Swot analysis refers to the strength, weaknesses, opportunities and the threats that a business faces. Every company has its strengths, weaknessesRead MoreThe Causes of Canadas Great Depression of 1929-1939 Essay1679 Words   |  7 Pagesthe collapse of the stock market was the beginning of the Depression, a period of severe economic and social hardship, massive unemployment, and terrible suffering.# The main causes of the Great Depression in Canada were overproduction, Canada’s Dependence on the United States, as well as the causes, there were the effects: unemployment and political consequences. The Great Depression was an economic slump that started out in the United States and was spread through other industrialized areasRead MorePolicy Brief On Sustainable Energy And Green Industry Puerto Rico1703 Words   |  7 Pagesenergy to fuel industries, heavy reliance on petroleum to meet energy needs will have negative impact on both revenue and environment. Moreover, petroleum products are imported from other states or country which cause severe drain on the limited financial resources and create deficit trade balance of the Island state. According to US Energy Information Administration (2016) Puerto Rico imported 175 thousand barrel of refined petroleum products per day in 2003, however it decreased to 150 thousandRead MoreFrom Beijing Jeep to Asc Fine Wines: the Story of an American Family Business in China1242 Words   |  5 Pagesindustries.   During   that   time,   the   only   way   a   foreigner   company   could   enter   the   Chinese   market   was   through   a   joint   venture   and   this  is  how  Beijing   Jeep  emerged  in  1984.  Ã‚   It   was   a   huge   step   that   an   American   firm   could   extend   their   business   to   one   of   the    biggest   markets   in   the   world,   however   we   consider   that   Beijing   Jeep   was   not   successful   in   China,   because   during   this   period,   the   economy   of   China   was  not  stable  and  the  Chinese  market  was   Read MoreOperation Management769 Words   |  4 Pages1. Why is it undesirable for the United States to evolve into a service economy? It is undesirable for the United States to evolve into a service economy because several problems arise if jobs shift from manufacturing to service. One is that service job pay less. Many service jobs are in minimum wage, while hourly wages from manufacturing jobs have historically exceeded the minimum wage by a substantial margin. As a result the standard living will necessarily decline. Furthermore, manufacturingRead MoreAnalysis Of Nucors The On The Industry Of Steel1556 Words   |  7 Pagescommercial excellence is based off of five principles: stay market driven, forge strong and loyal relationships, be easy to do business with, create sustainable results and do everything together. The Chief Finance Officer, John Ferriola, said â€Å"We care about our teammates, customers, environment and communities in which we live and work. It’s not just our way of doing business; it’s our nature.† Employee relations are very important. They put a lot of emphasis on wor kplace safety, high quality, high