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The Economic Principles and Conceptual Frameworks

   

Added on  2021-04-24

11 Pages2217 Words44 Views
Political Science
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Running head: ECONOMICS ASSIGNMENT Economics AssignmentName of the AuthorName of the UniversityAuthor Note
The Economic Principles and Conceptual Frameworks_1

ECONOMICS ASSIGNMENT 1Table of ContentsIntroduction................................................................................................................................2Article Overview........................................................................................................................2Economic Interpretation.............................................................................................................4Policy and Strategy Implications...............................................................................................6Problems of the strategies taken.................................................................................................7References..................................................................................................................................9
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ECONOMICS ASSIGNMENT 2Introduction Economics as a discipline, has undergone immense dynamics and integrations overthe years with the conceptual framework and theoretical assertions modifying according tothe dynamics seen in the global economy and in the behaviour of the different economicagents, producers and consumers mainly (Hall and Lieberman 2012). The economicprinciples and conceptual frameworks play crucial roles in explaining the different problemsof concern which crop up in different parts of the global economic scenario and the same alsohelp in finding plausible solutions or way outs to combat those problems (Baumol andBlinder 2015). Keeping the above discussion into consideration, the concerned report tries to identifythe chief economic issues cropping up in one of the most influential and globally dominanteconomies, that is the economy of the United States of America referring to the articlepublished in The Economist, on July 27th, 2017. The article titled, “If America is overrun bylow-skilled migrants.... – The market for lemons”, tries to highlight some serious issues ofeconomic threat, which the agriculture sector as a whole and primarily the lemon producingsector of the country has been facing in the contemporary period (The Economist, 2018). Article Overview The concerned article, sights the situations of the lemon producing companies of theUSA, especially the Limoneira, the largest company in the country in this industry. Thecompany, in the earlier periods used to have enough workers for their lemon and avocadofields, the primary reason behind the same being that the company, supported by the previousgovernment policies and infrastructures, used to provide enough incentives to their workersin terms of competitive wages and other perks like comfortable and highly subsidizedhousings (housings being provided at 55% below the rates which usually prevail in the
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ECONOMICS ASSIGNMENT 3markets of California), other facilities like credit union, parks and family spaces (Guan et al.2015). However, in the recent periods, the company, along with other fruits and vegetableproducers in the country have been facing a severe crunch in the number of workers for theiragricultural fields. This in turn has resulted in tremendous negative implications on theagricultural sector of the country and on the economy of the country as a whole (Gonzalez2015). On one hand, due to the lack of agricultural labours, the fields remain unploughed orthe vegetables and fruits rot to a massive extent due to the absence of the labours to pick themup. On the other hand, due to the lack of supply in the vegetables and fruits, which arenecessary commodities, the country has resorted to import more and more of them from otherparts of the world, thereby hurting the balance of payment of the country (Tocco, Davidovaand Bailey 2012). The main reason behind this lack of workers in the agricultural sector, as per thearticle has been pay scales for the workers in the recent times, which has also been clubbedby the reduction in the number of low skilled immigrants from different countries like that ofMexico and others, entering the country (Peri 2012). The reason behind this lack of entranceof these immigrants can be attributed to the recent increase in the border security and therecent government policies to reduce the number of immigrants in the country as a whole. The main issues which the article has highlighted in this context, are the issues ofdemand and supply imbalances, the issues of payments and also the issue of immigration oflow skilled workers by increasing the agricultural visas. The farmers have however, startedresponding to these problems, mostly in two ways- either by increasing the wages of theexisting labour force, thereby motivating more labour to join their workforce, or byincreasingly bringing in cheap labours from other developing countries with the help of
The Economic Principles and Conceptual Frameworks_4

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