Democratic or Undemocratic Essay Example | Topics and Well Written Essays - 500 words

Democratic or Undemocratic - Essay Example Congress and as well get a better idea as to what takes place within the Congress as well. This is what will be dissertated in the following. Basically the United States has three different branches of government, which are: legislative, executive, and judicial. Each of these different branches has its own features and works in its own separate way. Laws are able to evolve from the action of each branch however, and a legislative history will basically and generally trace its bill from its introduction into Congress through the legislative process. The conference committee is a committee of Congress which is considered as being incredibly major in the process of a bill being passed; the committee is appointed by the House of Representatives and Senate to resolve any disagreements on any particular bill. The first thing that happens when a bill is going to be passed has to do with these conference committees, and they only operate "after the House and the Senate have both passed different versions of a bill. Bills must be printed. Conference committees exist to negotiate a compromise bill that both houses can accept." (45) . Then, both houses of Congress must end up eventually passing the identical legislation in order for the bill to become a law, thus proving their extreme importance in this process overall.

Evaluate the different schools of thought that exist with regard to Essay

Evaluate the different schools of thought that exist with regard to stabilisation of business cycles - Essay Example (1) Self-correcting mechanism (2) Keynesian theory of business cycles (3) Real business cycle theory. The self-correcting mechanism states that if any of the major economic problems (inefficiency, slow growth, instability etc.) would occur in the economy then the mechanisms of â€Å"self interest† and â€Å"invisible hand† will rectify these problems. The self-correcting mechanism was proposed by Adam Smith. He suggested that in any such condition the forces of demand and supply will work automatically and the equilibrium will be restored by self correcting mechanism. But when the self-correcting mechanism failed badly due to problems such as inflation and unemployment, John Maynard Keynes, the founder of macro economics, disagreed with the phenomenon of self-correcting mechanism. In his theory he has focused on the role of government and the aggregate demand. J.M. Keynes has suggested that the higher the level of the aggregate demand, the higher will be the level of em ployment, supply and economy. In his theory he has discussed the demand side of the business cycle. He suggested that whenever there is a downfall in the economy the government should increase the aggregate demand through economic policies (fiscal and monetary) and through increase in investment expenditure. According to him a raise in aggregate demand will result in growth in supply, employment, income and economy.