John Maynard Keynes

John Maynard Keynes was a British economist who believed that the government should play a large role in the economy by investing in the public sector. I agree with him to a point. I think that the government should invest in times of crisis, but they must be careful to not take over the public sector. We should be concerned about Keynes and his ideas at this time because we are in a bit of a recession, and the government is doing what he said by helping out large companies.

Keynes believed that the government should help out the public sector. He thought the government should invest in the public works, even at the point of running up a deficit. He believed that by supporting the public work, more jobs would be available, creating more employment, more money, more demand, eventually leading to a well balanced economy. President Franklin D. Roosevelt tried Keynes theory out, and it worked, eventually ending the Great Depression.

I think that Keynes theory is a good idea, but only to a point. If the government helps out the public sector too much, they could end up practically taking over some companies. Also, the theory might not work, causing the government to lose a lot of money. However, I do believe that the government should help out the economy in times of crisis, or even before a crisis if possible. I believe that if the government can help a failing economy get back on its feet, then it should, as long as it is not taking over the economy.

At this time, we are in a small recession. Large companies and banks have lost a lot and have had to be boosted up by the government and its money. Without the governments support, these large companies and banks would have gone bankrupt, many people would have lost their jobs, and our economy would have taken a turn for the worse. We should be concerned with the Keynesian theory because that is what we are doing right now, with the government supporting the economy to prevent a depression.

John Maynard Keynes was a very famous economist, whose ideas helped to stop the Great Depression. I believe that the government should help the economy in a crisis, but they should also try to let a free market reign. We should remember Keynes and his theories because they could save us a lot of money during this time of recession.

The international Monetary Fund

In July 1944, after the Great Depression, 45 countries gathered together to build a framework of economic cooperation between different countries. This was called the International Monetary Fund (IMF), and it was created to help prevent another vicious depression. In the 21st century, the IMF has continued to impact and help us. Some ways that it has impacted and helped us include its surveillance, its financial assistance, and its technical assistance.

Surveillance involves the monitoring of the economic and financial developments in different member countries. This allows the IMF to see how a particular country is doing economically. Through this surveillance, the IMF knows how to help any particular country. One main goal of this surveillance is to help prevent an economic crisis by catching it before it happens.

The IMF also helps member countries by offering financial assistance. It will lend money to countries with economic problems in the hopes of solving these problems. These loans are often aimed especially at poverty reduction. Also, when a country has some sort of disaster, money will be lent in emergency assistance to help clean up and fix the problem. This process of lending money to member countries has helped many countries to take care of financial problems that they would otherwise be unable to.

The IMF also provides member countries with technical assistance. This technical assistance is a big help in many different countries. It helps to boost the economy and it allows the countries to better take care of themselves. The IMF also helps with the training of workers to run the technology given to them.

The IMF fund has impacted many different countries in many different ways since its creation right into the 21st century. Three ways it has impacted these countries are through its surveillance techniques, its financial assistance, and its technical assistance. By doing these things, the IMF has helped us to avoid another Great Depression, and has helped us to solve many problems in this time of minor recession.

Oil vs Baseball - Journal Entry

Dear Journal; April 21, 2010

As you know, I play baseball for the Magrath Pandas. And guess what! Our team is having a huge winning streak, and it is all because of our lucky diamond. Our local diamond is definately lucky. We haven't lost a game on that diamond for three seasons straight! It seems like everyone in the town always comes to our games on this diamond because its a local one, and isn't three hours away. I love our lucky diamond!

Dear Journal; April 22, 2010

It turns out that our lucky diamond has an oil field or something under it. This big oil company is thinking about buying it so that they can get the oil and sell it. I know how important oil is these days, but that diamond is special to me. Its where I hit my first homerun and caught my first pop fly. Its also where I helped turn a triple play two innings in a row. I love that field! I really hope that the company decides not to buy it!

Dear Journal; April 23, 2010

Sadly, the deal went through. The big global oil company is going to take our lucky diamond and turn it into an oil mine. I can't believe that it is really happening! That diamond is special to our town. Everyone has very fond memories of that place, and everyone is sad to see it go. Of course, the oil company is going to build us a new field, and they are going to use some oil money to sponsor our team, but it just isn't the same. I can't believe the deal actually went through. I have to admit that I will probably cry when they tear up the diamond. We are planning to hold a big good bye party for it. I am shocked that the money won out against our history on that field.

Oil Development Questions

In our globalizing world, should resource and land development for global markets take precedence over environmental concerns, local plans, traditional values, or cultural beliefs?

1. How much does globalization affect the environment?
2. Can we do without so much stuff in order to preserve the environment?
3. Are we willing to kill the environment in order to preserve our lifestyle?
4. What would we do if our resources became completely depleted?
5. How might others feel about you using up a resource?
6. What if, in the process of gathering one resource, you kill off another resource even more important?
7. How hard are you willing to work to protect the environment?
8. Are you willing to break tradition in order to promote globalization?
9. Should resources be depleted now in order to globalize quickly?
10. Can globalization come more slowly in order to protect the environment?

Environmental Impact of Oil Sands Development in Alberta

Oil is a very valuable resource these days. It is used for many different things. However, as the oil sources are becoming depleted, we have had to turn to oil sands. Alberta has the largest supply of oil sand in Canada, with about 21% of the province being covered with this resource. Although we do need this oil to continue with our way of life, the cost to mine this oil may be to high. The mining of these oil sands takes a lot of energy, and it can be very detrimental to the environment. Many environmentalists are concerned with the impact on Alberta's Northern Boreal Forest. According to them, all the oil sands mining going on in that forest are causing things such as deforestation, habitat fragmentation, and species loss. These are all environmental impacts in that area that may be hard to reverse. Another example of the environmental impact that the oil sands mining is causing happened in April 2008, when hundreds of migrating ducks died in a Syncrude tailings pond. Also many species of animals that were already at risk are declining even more, such as caribou. Even more, ecologically complex forests have been cut down. Even if they are replanted, the same habitat that was there before will no longer exist. Environmentalists and the Media have been giving these environmental issues a lot of attention. Many believe that we must find a new way to mine the oil sands, one that isn't so damaging to the environment. If this won't work, we must find a better, more efficient item to use instead of oil. One way that we can help with the environment while still mining oil sands is to try and keep it as clean as possible. We must do our best to take what we need and leave everything else the way that it is.