International Economics Book Review Sample: The Shackled Continent: Power, Corruption, and African Lives


When the question is about the missionary on the dark continent, the very first thing you imagine are brave explorers carrying the Holy Bible and telling the tribesmen about Jesus. Not a bad option at all, but Robert Guest has something else to tell. With good old Economist, he’s ready to tell that every member of the benighted tribe community can be saved simply through entering the area of the free-market global capitalism. The latter is described by Guest as the tool that will bring the prosperity era to the continent and help to everyone to get rid of any local superstition.

It is necessary to point out that Guest appears to be excellently equipped for his mission. His breezy and plain style enables him to describe all the miseries and dreadful facts about Africans such as bitter massacres, poverty and even brigands at the local road-blocks. Besides, he’s known as the Economist’s African correspondent and editor, who truly believes the hard times that the continent is getting through are caused by the failure to build capitalism.

When staying on a small farm in Malawi, where Mr. Zimba had managed to build a small mud snack using a range of plastic bags as window frames, the author of the book came to a certain conclusion – there is no better and solid proof that the world’s poor are in need of what is called capitalism!

Using some good humor and compassion, Guest shows that nothing really works in the majority of the regions all over the dark continent: if the readers do not get the message, the author emphasizes it with lopsided letters in the headlines and the title. He portrays the people in Africa shackled by cruel governments, authority officials and rulers, who press so hard to destroy individual enterprise.

Despite all hope seems to be gone, Robert Guest remains positive. In the long run, the man is sure the country will eventually prosper. Every country can switch from being poor to wealth and comfort. And the best examples of such a transition can be seen in Japan and Italy.

In his book, Guest never views capitalism as something that only huge corporations are involved in. Instead, he insists that informal economy in Africa is crucial and supports the theories provided by Hernando de Soto. A famous economist from Peru say the dwellers in small and forgotten-by-God towns need to acquire property rights in order to get into the swing of things in the capitalistic world.

In the majority of dark continent countries, where greedy authorities enforce state controls, the importance of an individual free enterprise seems to be obvious, while the arguments of the author are pretty persuasive. However, when talking about the South Africa, Robert Guest doesn’t seem to be that convincing. Moreover, he doesn’t consider the past record of the Economist’s “cold-blooded world capitalism”, as well as anti-communist movement that led the team of the magazine to do battle with the sanctions and defend apartheid governments – that proved the key tool of the so-called peaceful revolution.

Instead, the author crudely explains the details of the transition: the USSR collapse encouraged the ANC (known nowadays as the most grandiose black liberation movement) to renounce the era of Marxism. That is why white citizens in the South African came to understanding that black rule did not include confiscation of their houses and other property. For that reason, they provided blacks with the right to vote via referendum.

Exactly that interpretation made capitalism unnecessarily cold-blooded for the globe. For it was the range of the USA banks, and all the sanctions imposed by the representatives of the Congress that started undermining apartheid long before the USSR fall. And exactly because of the western media support provided for the ANC they got persuaded they had more supporters in the west rather than in the east, and that it was a good idea to reconcile with the world capitalists.

Guest tells it’s important to apply the same explanations to the South Africa even today. The government’s efforts to protect and support workers have already led to the joblessness rise, Guest says. According to his words, corrective discrimination will never improve the life of human beings. How about the Afrikaner governments in the region that required English-speaking companies and banks to discriminate in their favor in order to let the middle class prosper?

It’s more than silly to believe the region can be saved through the application of a range of cruel free-market policies without taking into account the actual political costs. This can only stimulate new anti-capitalism movement. You, as a reader, have an opportunity to learn a lot from these pages; however, make sure to keep the political analysis in mind as well!


  • Mundell, “The Theory of Optimum Currency Areas,” American Economic Review, September 1961, pp. 657–65, and R. McKinnon, “Optimum Currency Areas,” American Economic Review, September 1993, pp. 717–25.
  • Draper G    Writing  book  reviews.  Online  article.  Accessed  from, 2007-12-08.
  • Stilwell F, 2010, ‘Environmental Policy: Beyond the Market’, Contesting Markets symposium, The University of Sydney, Sydney, September 30 – October 1.
  • Book review of: Economics as Religion From Samuelson to Chicago and Beyond By Robert H. Nelson Penn State Univ. 378p.
  • Brown, Ellen. “Time for a New Theory of Money.” org, October 29, 2010.
  • Lee, C.J., Hsien-chan Ho, Shing-Mei Chen, Ya-huei Yang, Soon-joy Chang, and
  • Hui-lin Wu. The Development of Small and Medium-Sized Enterprises in the Republic of China. Ta i p e i , Ta i w a n : Chung-Hua Institute of Economic Research, 1995.
  • Colander, David. 2005. From muddling through to the economics of control: view of applied policy from J. N. Keynes to Abba Lerner. History of Political Economy, 37 (Supplement 1): 277-291.
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Conservation Essay: Hunting Down the Endangered Species to Save Them

afrika safariThe illegal hunting and killing of rhinos and lions in South Africa and Zimbabwe have ignited a heated debate over the so-called trophy hunting, as well as the role it plays in conservation.

A range of claims have been made recently regarding the benefits that the trophy hunting brings to the economic segment of Africa. That’s where hunting is a big game that turns to be big business. The latter is reported to be estimated near $200 000 000 yearly.

The economic significance of the issue polarises the debates. On one hand, animal rights activists tend to protect the wildlife conservation, while the hunters claim that ‘sustainable’ use of wildlife is a must for the modern conservation strategies. Let’s take a look at some sources and studies to investigate the matter.

A lot of recent articles have informed on the revenues that come from the trophy hunting – over $200 000 000 on the black continent. According to the article ‘Biological Conservation’ published in 2006, there are many countries, where hunting industries are significantly developed. Among them Namibia, South Africa, Botswana, Zimbabwe, Tanzania and others.

In terms of animals shot and visiting hunters, South Africa had the most grandiose hunting industry. The most significant was the trophy hunting in Botswana, followed by Namibia and Tanzania. So, the question is how much is South Africa actually earning from the trophy hunting? According to the estimation performed by the Department of Environmental Affairs of South Africa in 2012, trophy hunting generated near 807 million and 1 billion in 2013. The information obtained is based on the ‘species fees’ that come from the hunters to the landowners and farmers, as well as regular rates that are usually charged by the hunting outfitters in order to cover all accommodation and food costs.

The 1 billion that was gained in 2013 included the species fees of near 757 million, as well as 314 millions of daily rates, with 44 000 animals killed to get trophies in that particular year. It is important to mention that the figures provided above do not include indirect income gained from trophy shipping fees, taxidermy, tourism activities and companions that are not related to hunting. Neither does it include data regarding the hunting permits for particular species that are not mentioned in the “protected-and-threatened list” as these fees usually differ from one province to the other and are charged only at provincial level.

How does trophy hunting compare to the regular tourism? According to the recent reports, in 2013 tourism had contributed 323 billion to the GDP of South Africa. More than 8 500 trophy hunters come to SA annually, compared to almost 9,5 million tourists. In sub-Saharan Africa, nearly 18 500 hunters participate in related activities every year, according to the reports, generating near $201 million in contrast to the estimate provided by the World Bank – 33.8 million visitors in 2012 (with 36 billion earnings in US dollars.)

The local economists say that while the number of hunters, as well as the contribution they make to the GDP, is not huge, trophy hunters are spending more and more exceeding the average tourists.

In 2014, the investigators of the economic impact of hunting in Free State, Limpopo and Northern Cape provinces of South Africa found 4 558, 17 806 and 9 072 jobs (accordingly) depend on the hunting area, as well as the ones of individuals employed permanently on the game farms.

In the same way, the ex-chief executive of WWF SA John Hanks argues that in the areas with high wildlife density and beautiful landscapes, the potential for the photo tourism is greater than the one for the trophy hunting.


  • LINDSEY,P.A.; ROULET,P.A. & ROMAÑACH,S.S. (2007): Economic and conservation significance of the trophy hunting industry in sub-Saharan Africa. Biological Conservation 134:455-469.
  • Booth, V. 2002. Analysis of wildlife markets. Report. World Wildlife Fund, Harare, Zimbabwe.
  • Whitman, K., A. Starfield, H. Quadling, and C. Packer. 2004. Sustainable trophy-hunting of African lions. Nature 428: 175–178.
  • Mbaiwa, Joseph E. 2004. “The Socio‐Economic  Benefits  and  Challenges  of  a  Community‐Based Safari  Hunting  Tourism  in  the  Okavango  Delta,  ” The Journal of Tourism Studies 15 (2): 37–50.
  • BAKER,J.E. (1997): Trophy hunting as a sustainable use of wild life resources in southern and eastern Africa. Journal of Sustainable Tourism 5: 306-321.
  • Barnett, Rob, and Claire 2006. Sport Hunting in the Southern  African Development Community (SADC) Region: An Overview.
  • Ian Michler, ‘Botswana’s Great Lion Debate’, Africa Geographic, 01 January 2001 & Martin Hutter, ‘Utilization of Wild Living Animals, Conservation and Sustainable Development: Contradiction in Terms or a Promising Approach?’, Pro Wildlife, 2002.
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Summer Student Part Time Jobs No Longer a Thing?

ashton and michael kutcherPart time jobs during summer breaks seem to be less popular in contrast to the past, when students did their best to find a good place to earn some bucks on holidays. According to the recent researches, the number of 17-year olds getting a job during summer breaks has halved in the last two decades.

Hard to Get a Foot in the Door

The experts of the IPPR (the Institute for Public Policy Research) inform that while the university fees rising could make young people concentrate on their academic progress, the majority of employers require staff with previous professional experience for the part-time positions, thus, depriving students of a range of options easily accessible 20 years ago. The IPPR specialists called on the universities, schools and governments to help youngsters in acquiring professional experience that would cultivate the skills required by the employers.

Contrasts from the Past

The research conducted on the 17-year-olds engaged in both full-time studying and part-time job has halved in contrast to 20 years ago. At the same time, the number of 18-24-year-olds has dropped by almost a fifth. Twenty years ago, over 40% of 17-year-olds had a summer part-time job. Experts say it was crucial to have a summer part-time job in order to get to know the world of grown-ups and employment better. The research proved that without work experience, it’s not easy to show off the soft skills recruiters are on the lookout for. However, right after the recession that happened in 2009, up to 23% of youngsters with no prior experience were unemployed, in contrast to 14% with professional experience. The researchers also insist that education and work can be highly useful for students, who wish to boost skills needed for their future career, as well as to smoothly switch from college to work. But the reality is – the opportunities available nowadays are not enough.

Lack of Flexible Part-Time Job Opportunities

As said by the IPPR spokesman, not every college or university student would like to work – a lot of them give preference to some other activities. Moreover, with increased college fees and exam pressures, the majority of students might better try to work on their academic progress. But what the research doesn’t show is that a lot of college students have no job during the academic year or in summer – meaning they are unemployed and that they’ve informed they would like to have a part time job. The IPPR spokesman said that during summer 2015 up to 250 000 16-24-year-old had no job, which meant they had a strong desire to get employed but couldn’t. To add more, he also proved the kind of jobs college students used to get engaged in – such as retail, part-time work or sales – are nowadays highly limited.

So, is it really the end of the part-time jobs era? The surveys prove that even in case skilled and full-time jobs are accessible, they are quite hard for youngsters willing to combine work with full-time education. The problem is that the majority of the recruiters prefer to employ individuals with previous experience, while only 27% of employers choose those, who have just graduated. The reality is that it’s part-time job that help teens to develop professional skills rather than exotic trip. You’ve been to Zimbabwe for hell knows what reason (to save the world of whatever), but what’s the point if you have got no real experience?

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Repaying Student Debt and Staying Alive

student loanWhen it comes to repaying student debt, you’ll, most likely, find tons of various informative material available on the web. But the best way to somehow limit what you already owe is to start practicing the so-called smart borrowing. Make sure to get a picture of how much you need to borrow as well as how much you are actually borrowing. Consider some useful recommendations that will help you to estimate all costs properly and track the student loan debt.

  • Great Lake’s budget calculator is a great tool to manage any sort of budget while staying at school, as well as after graduation. Once you properly plan your budget, you will be able to keep up with the income and expenses. This will help you to ensure you are not borrowing more than you need or more than you can actually afford.
  • NSLDS or the National Student Loan Data System provides the user with a complete picture of all federal student dept items of yours. In case you have private loans, make sure to refer to the credit report. The latter includes information about your servicer or lender.

If you’re aware of what you owe and what kind of loans are waiting for you in the future – you will be borrowing only what you’re in need of.

Understanding capitalization and interest and how it all works won’t make the sum you borrow any bigger. When the question is about interest, the term is related to the cost of borrowing money. It starts building up the very moment you receive your loan money. Remember, the more you decide to borrow, the more interest you will be required to pay. At the same time, the lower your interest rate is, the less interest you will have to pay.

As for the capitalization, it appears when the unpaid interest is being added to the loan principal. Before the date when your first payment is due, unpaid interest is added to the amount you have capitalized or borrowed. When dealing with the federal student loan, expect the capitalization to occur only when it is required by the regulations of the Education Department.
The other way to easily hold down your costs is through making student loan payments while studying at a high school. If you have such an opportunity, ensure to make regular payments. In the nearest future, these payments will reduce both your principal and the amount of interest that will eventually capitalize.

Enjoy all the benefits of AutoPay. The latter is used to automatically withdraw any of the student loan payments from student’s savings or checking account on a particular date. This will help you to save your funds. Feel free to sign up for the AutoPay when being a high school student in order to save bucks in the long run. Besides, using the AutoPay tool means you will never miss the date of payment.

When you are repaying your student debt, everything can help. In case you have such an opportunity, make sure to pay more than you’re supposed to when you are in repayment. Remember, the more funds you’re able to give, the faster you will pay off the student loan.

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Uber Essay Sample

uberUber is used to connect riders with the drivers in what is related to the transportation. This in turn generates significant economic activity, as well as provides a range of economic opportunities. A great example of the total Uber’s impact can be seen in the City of Chicago. According to the most recent investigations of the issue, the total impact of the operations of Uber in the city was more than $46 million.

    As revealed by the study performed by ECONorthwest, the Uber’s technology platform has brought the following economic contributions:

  • The total gross impact on the economy of the city was up to $46 380 000 and as the time is passing by the impact is expected to be even larger. The economic impact is going to scale proportionately to the revenue growth of Uber.
  • In 2013, both the efficiency and the convenience of Uber’s tech provided 25 000 extra rides in Chicago that is more than the transportation market would ever do without Uber’s options.
  • Uber has also brought near 1 049 new jobs in the City of Chicago in 2013. But the thing is that Uber never hires drivers. The figure mentioned above includes the new direct jobs provided for the transportation providers and indirect jobs from transportation-related fields.

According to the experts, Uber has brightened financial future for many citizens and become the only source of support for many families.

In order to estimate Uber’s economic impact on the country’s macroeconomic level, the experts highlighted eleven cities with perfectly established Uber operations. The latter include providing three vehicle classes such as: UberX, UberBLACK and UberSUV. The overall economic impact of Uber is an actual sum total of every economic activity within the region that is linked to the business of Uber. This includes payments received from the Uber-Uber’s partners riders, all activities formed when partners begin to spend funds to provide rides, as well as all extra spending that partners tend to take on as a result of their income as drivers.

The additional value provided by Uber actually flows through every driver as well as supports additional economic activities even beyond the given ride. And finally, consumers also have a great opportunity to benefit from Uber economic rewards – by virtue of the fact they prefer to spend funds on the rides with Uber instead of the other alternative money use. That’s how the so-called ‘consumer surplus’ is being created.

The experts have estimated all incremental rides in a range of steps. With the help of the conservative estimates used for unknown parameters, the specialists have first revealed the implied perceived cost of each of Uber ride. It is important to mention that the calculation was performed on the basis of the estimated time cost of Uber, cross-price elasticity of the taxis demand and the observed market share of Uber rides. At the end of the process, the perceived cost was used in combination with the range of literature-based estimates of the demand price elasticity within the taxi field. The results have proven the expansion of the incremental supply of rides within the city.


  1. National Highway Traffic Safety Administration, Alcohol-Impaired Driving, Dec. 2013, at
  2. Alliance Against Intoxicated Motorists, 2012 DUI Facts, at
  3. Dr. Robert Bruno, Driven Into Poverty, University of Illinois’ School of Labor and Employment Relations, at images/Taxi_Income_Report_-_Final_Copy.pdf.
  4. Emily Badger, Taxi medallions have been the best investment in America for years. Now Uber may be changing that, The Washington Post, Nov. 27, 2014, at
  5. I-Team: Cab Riders’ Gripes, Drivers Exposed, WLS-TV, May 13, 2014, at
  6. Jason Meisner, Cynthia Dizikes and Joe Mahr, Tribune Investigation: Courts drop most cases against frequently ticketed cabdrivers, Chicago Tribune, Sept. 23, 2011, at chi-tribune-investigation-courts-drop-most-cases-against-frequently- ticketed-cab-drivers-20110922-story.html
  7. Rules and Regulations for Affiliations, City of Chicago Department of Consumer Services Public Vehicle Operations Division, Dec. 23, 2001, at rulesforaffiliations082909.pdf.
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Essay Sample: Bill Gates and Mark Zuckerberg Clean Energy Coalition

windmillsMark Zuckerberg and Bill Gates have announced the launch of a new grandiose initiative. The key aim of the Gates-Zuckerberg coalition is to encourage private sector investments in the area of clean energy. From the Zuckerberg’s side, the launch of the coalition now known as the ‘Breakthrough Energy Coalition’ was announced on the official Facebook page ahead of the COP21 climate change conference that took place in the capital of France, where global leaders were discussing all possible agreements regarding the limiting of temperature rise. Together with his spouse, Priscilla Chan, Mark Zuckerberg is launching the campaign in coalition with Bill Gates. As for the other members of the organization, they are the founder of Virgin Richard Branson, Amazon CEO Jeff Bezos and the executive chairman of Alibaba Jack Ma.

In addition to that, Bill Gates is also expected to join the USA leader Barack Obama in announcing the launch of a special clean energy program in Paris. The program called ‘Mission Innovation’ is created with the main aim – to double all public investments in the sector of energy research – from the level of $10 billion to $20 billion. According to the information provided by The Washington Post, nineteen governments have already agreed to sign to the program mentioned above with China and United States among other.

According to the words of the coalition leaders, Mark Zuckerberg and Bill Gates, the Breakthrough Energy Coalition is going to collaborate with countries that are nowadays participating in the Mission Innovation in order to encourage grandiose funding commitments for both basic and applied research. As said by the experts of the official web site, the coalition is going to also forward its funds to the early stage businesses that can boast of having the potential of an excellent energy future that generates next to zero carbon emissions, as well as provides every person with reliable and affordable energy. It’s necessary to point out that no funding totals have been revealed.

In one of the Facebook posts, Mark Zuckerberg has written that solving a range of problems with the clean energy is crucial to build the world that will be a better place for every individual. Besides, he also added that it is completely impossible to make significant progress and deal with any sort of challenges – like connecting or educating the global community – without a stable climate and reliable and safe energy. At the same time, the leaders of the breakthrough Energy Coalition inform that the progress within a sustainable energy system field is pretty slow at the moment. For that reason, it is important to re-build the current system in order to make it encourage the required innovations that will get us into a better and brighter future.


  1. Bain & Company (2012), “Insights: A world awash with money”, www.bain. com/publications/articles/a-world-awash-in-money.aspx.
  2. Climate Action Tracker (2015), “Effect of current pledges and policies on global temperature”,
  3. Trieb, F., C. Schillings, M. O’Sullivan, T. Pregger, and C. Hoyer-Klick (2009). Global potential of concentrating solar power. In: SolarPACES Conference, Berlin, Germany, 15-18 September 2009.
  4. Viebahn, P., Y. Lechon, and F. Trieb (2010). The potential role of concentrated solar power (CSP) in Africa and Europe: A dynamic assessment of technology development, cost development and life cycle inventories until 2050. Energy Policy, doi: 10.1016/j.enpol.2010.09.026.
  5. Bain, R.L. (2011). Biopower Technologies in Renewable Electricity Alternative Futures. National Renewable Energy Laboratory, Golden, CO, USA, in press.
  6. Bain, R.L., W.P. Amos, M. Downing, and R.L. Perlack (2003). Biopower Technical Assessment: State of the Industry and the Technology. TP-510-33123, National Renewable Energy Laboratory, Golden, CO, USA, 277 pp.
  7. Neij, L. (2008). Cost development of future technologies for power generation – A study based on experience curves and complementary bottom-up assessments. Energy Policy, 36(6), pp. 2200-2211.
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Writing an Economic History Paper: How to Approach

writingWhen approaching the economic history, one should apply high-powered statistical methods in order to analyze quantitative economic data. The experts of the field recommend treating all economic elements and processes as both complex and unique historical events. Further our economic history essay guide will give you better idea of the process.

Meet the North’s Approach

Douglas C. North, one of the pioneers of the new economic history, offers his own method to approach economic history. He points out the relationship economic history posts between the history and the theory. For North, the Nobel Prize winner, history is the very source of the so-called ‘empirical evidence’ that is a perfect statistical data. The latter is the issue against which the economic history is being usually tested. In other words, once you make a claim to validity of a certain theorem, keep in mind that it will always remain defensible and tentative.

North also claims it’s impossible to both analyze and explain the issues related to the economic history without giving initial hypotheses, as well as testing them on the basis of the available evidence. As for the initial hypotheses, they usually come from the economic theory body that has developed in the course of the past two hundred years and is being endlessly tested and refined through empirical inquiry. The empirical evidence and precise measurement used to test the theory are provided by the statistics.

Revise Regularly

At the same time, it also means that one should continually revise economic history since the theory that is applied to identify the relations between historical events can be simply falsified at some point by a sudden evidence appearing in the ongoing historical process. To cut it, what the modern economic historians take as the close ‘relationship between the theory and measurement’ actually is the fierce circle that simply traps up every attempt to somehow invoke positivist precepts in the history interpretation. For in case the theory is being used in order to interpret any of the events that took place in the past can be canceled any time by the future events, then it’s not really clear whether the theory is the explained or the explainable when it comes to the historical research.

Evaluate the Existing Viewpoints

Evaluation is known as an integral part of the economic history paper writing. There’s a well-known joke that once you put ten economists in one room, you will 100% receive eleven different answers. You may wonder why. The point is that the nature of economics is that usually there’s no answer that can be considered as ‘correct.’ It’s highly important that we always take into consideration the other viewpoints, as well as debate over different most probable outcomes. That’s what is called the evaluation.

When the economic history project is almost done, make sure to ask yourself – how does my paper answer the question? If necessary, think about a one-sentence summarization that will bring a direct answer to your question. There is no need to wait till the last paragraph of the paper is done to realize you have chosen the wrong question to investigate if you did. Hopefully our economic history essay guide will help you prevent this.

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Most Informative Economic Review: The How-to

macbookWhen you’re required to accomplish an economic review for class, make sure to carefully consider the reason why an economic review should be conducted. First of all, its number one goal is to find out what interventions properly work in order to reduce a certain burden.

In order to complete an informative economic review, one should take certain steps. Our economic review guide is going to outline them for you below:

Set Inclusion Criteria
It is important to make use of intervention and population characteristic criteria from the review of a broader nature. Plus, make sure to take into consideration the information source such as the language of publication, its type and high income economies.

Perform a Thorough Literature Search
Make use of the economic key words such as cost-utility, benefit, cost-effectiveness, etc. Surf the databases that are specialized in economics. For instance, you will get some great help from sources like Campbell Cochrane Economic Evaluation and EconLit. Besides, it is recommended to take a look at the repositories of institutions like National Institutes of Health, Centers for Disease Control, National Institute for Health and Clinical Excellence.

Review More Complex Studies
Conducting a detailed research before the actual process of writing, make sure to approach the studies performed by the experts. This will provide you with an opportunity to see differences in opinions of experts within a particular area, as well as to properly weigh them up.

Rate Every Study
Before doing so, ensure to take into account only the studies that have satisfactory or better rates. It is important to base your quality rating on the following performance categories: benefit measurements, design, analysis, cost and effects. Make sure to assign every study with special marks, such as: unsatisfactory, satisfactory, good and very good.

Tabulate Your Results
In order to perform the conversion of the estimates from foreign studies to the United States dollars, make sure to use the PPP or the purchasing power parities. Also, incorporate the inflation effect with help of the CPIs or the Consumer Price Indexes for services and general goods, as well as for medical care. Consider the notion that benefits appear to be more desirable at the moment rather than in the future through the process of discounting.

Provide Summary Conclusions
If possible, make sure to produce summary economic estimates all over the studies. Provide your own conclusions on the economic attractiveness of interventions on the basis of the economic evidence weight.

Include Discussions
Provide the description of differences in methods and materials across the studies that are being investigated. Ensure to detect variables to which the summary results are especially sensitive and that are most likely to transform in case the intervention is being applied in predictable and specialized situations.

This concludes our economic review guide, finally, when dealing with the economic review, the crucial part is to identify gaps in the middle of economic literature, as well as not forgetting to suggest potential options for the future research.

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Bitcoin Essay Sample

bitcoinYou have definitely heard a lot about Bitcoin. But…what is it all about? To cut it, Bitcoin is the most popular digital currency at the moment. The whole point is that the user is provided with an opportunity to use Bitcoin in order to pay for stuff without the necessity to approach a third-party broker. To make it simple, make sure to think about it like one huge ledger that is being shared by many users to complete many procedures: when one pays for something, or gets paid, the transaction is recorded directly on this very ledger. Then, the computers start competing to confirm the transaction though dealing with a range of math equations, and the winner gets the desired Bitcoins. That’s what the field experts call the ‘mining’. But there is no need to get too excited since only the computer powerhouses can get the Bitcoins that way.

So, what’s the idea? The digital currency made its debut in 2009, when the financial crisis broke out. The idea behind it was to deprive the central bankers and governments from power to control currency flow.

As for the creators of the Bitcoin reference and protocol software, an individual or a group of them known as ‘Satoshi Nakamoto’ stand behind it. However, there are still bitter debates over who actually was the inventor. While some sources insist on the personality of 64-year-old Dorian Satoshi Nakamoto from LA, the others claim the man denied all sorts of facts regarding him being related to Bitcoin issues.

To start using Bitcoins, the user is supposed to install the ‘Bitcoin wallet’ app on the PC or telephone. Then, he or she can do the so-called ‘Bitcoin exchange.’
Using digital currency is possible in a few places such as the dating web site OkCupid or the Sacramento Kings. Zynga and are at the testing stage with the Bitcoin. Besides, the Winklevoss twins preferred Bitcoin to purchase tickets for the Richard Branson’s rocket ride.

What is so cool about Bitcoin, you may ask. It’s better to probably approach supporters to get the desired information. First of all, they will tell you the currency is a great option for the small businesses. Thing is, the stores are required to pay a specific fee to the card industry the very moment a client swipes a debit or credit card in order to cover the transaction processing cost. However, the fees like that tend to shrink when the clients use Bitcoin for the reason that the transactions are being processed by the competing computers.

The other idea comes from the fact that Bitcoin can be used by online users in developing countries, who do not have bank accounts, but use cellophanes instead. Or, as the founder of Bitcoin Investment Trust Barry Silbert said, those users, who live in the countries, where official currency tends to plunge, might consider Bitcoin as the gift from heaven. To add more, Bitcoin payments happen to be anonymous, which is a great advantage for the individuals, who care about confidentiality.

No one can really tell how the Bitcoin can be regulated, or who should be entitled to do that. But the truth is once a range of heavy regulations are imposed Bitcoin won’t be Bitcoin anymore.


  1. S. Haber, W.S. Stornetta, “Secure names for bit-strings,” In Proceedings of the 4th ACM Conference on Computer and Communications Security, pages 28-35, April 1997.
  2. Back, “Hashcash – a denial of service counter-measure,”, 2002.
  3. H. Massias, X.S. Avila, and J.-J. Quisquater, “Design of a secure timestamping service with minimal trust requirements,” In 20th Symposium on Information Theory in the Benelux, May 1999.
  4. J. Camenisch, S. Hohenberger, and A. Lysyanskaya. Compact e-cash. Proc. Eurocrypt, 2005. 9.
  5. S. Canard and A. Gouget. Divisible e-cash systems can be truly anonymous. Eurocrypt ’07.
  6. K. Poulsen. New malware steals your bitcoin.
  7. F. Reid and M. Harrigan. An analysis of anonymity in the bitcoin system. Arxiv:1107.4524.
  8. M. Babaioff, S. Dobzinski, S. Oren, and A. Zohar. On bitcoin and red balloons., 2011.
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Sample Essay: Entrepreneurs Hold the Key to Solving World Problems

light bulbWhen we get in trouble, we tend to invent truly ingenious solutions. Same rule goes with the entrepreneurs, who don’t relax and make sure to impress the world community with stunning solutions to the most pressing problems. Here are some of the brightest green inventions.

  • Biochar or the process of carbon trapping with the so-called “green coal.”

It’s known that any sort of biomass releases carbon the very moment it decomposes. But the fact is that this biomass can be easily burnt by pyrolysis in a kiln in order to create biochar that is called “green coal.” Then the biochar is dug back directly into the ground to get the carbon locked into the soil. The most astonishing thing about the mitigation of greenhouse gas emissions. The experts say that biochar can lock carbon for a longer period of time in contrast to any other sequestration form.

  • Ocean Fertilization or dumping iron dust into the water in order to get rid of carbon.

Taking into account the fact that oceans are the biggest sink we all have, it’s no wonder that they tend to soak up almost 2 billion tons of carbon annually. Through spreading iron dust on the waters of global ocean the human beings have an opportunity to trigger enormous plankton blooms that are as big as a typical small city. Then, the algae would absorb carbon dioxide directly from the atmosphere. The very moment the algae die, the whole bunch simply goes to the bottom of the world ocean and then – it gets sequestered directly on the seabed.

  • Coal – Natural Gas Conversion from Great Point Energy.

The experts of the Great Point Energy have successfully developed a special technique to convert coal into natural gas. The whole point is that natural gas tends to be a less dirty method to generate electricity, especially in contrast to burning coal. Taking into account how huge the coal deposits of the USA are, the Great Point technology is extremely important. The most amazing thing about it is that the water-based catalytic technology of Great Point can significantly speed up the process of coal – natural gas conversion.

  • Drinking Fountain Restore or the reinstate of bottle-free water.

It’s not that easy to say “no” to the bottled water. When thinking about the issue, there’s a question that pops up – where are all those incredibly nice fountains that were once donated by the philanthropists in the far 1800’s? Are they going to come back one day? The good news is that some of the community groups have special plans to bring the park drinking fountains to life once again.

The green inventions provided by the companies at the moment are pretty impressive. They exert every effort to generate breakthrough innovations that humankind is in need of in order to boost the quality of life.


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