St. Thomas Aquinas and the development natural law in economics thought

Building on the system of reason provided for by the Greek philosopher and specifically Aristotle, St. Thomas Aquinas built a comprehensive system and theory of natural law which has lasted through the ages. The theory was further developed in the Middle Ages and in the Enlightenment Ages by many a prominent philosopher and economist and has been recognized in the Modern Age. The natural law-theory and system has been repeatedly applied to the spheres of economic thought and has produced many lasting contributions such as private property rights and individual rights. In recent times with the collapses of the financial system and rapid globalization, there has been a renewed interest in the application of natural law theory to economics to counter a certain anthropology and distortion of values created by a modern economic system of selfpreservation deriving its insights from the philosophies of Thomas Hobbes and Niccolo Machiavell

Proliferation of globalization and its impact on labor markets in advanced industrial nations and developing nations

The purpose of this paper is to provide insights into how the proliferation of globalization has impacted labor markets both in a advanced industrialized nations and well as developing nations. Insightful analysis will be drawn from Oatley (2011) on division of labor, Jaumotte & Tytell (2007) on labor compensation, Hahn & Narjoko (2013) on the impact on South Asian Countries, Basu (2016) on wage as a share of GDP and Wallace, Gauchat & Fullerton (2011) on the impact of globalization and labor markets on inequality

Analysis of Political Economy, International Political Economy, Globalization and its Importance to Public Finance.

The purpose of this paper is to provide an analysis of the discipline of political economy, international political economy and their respective historical developments. The paper will then focus on globalization and evaluate the strength and weaknesses of the policy to globalize. Further analysis will be conducted to show the importance of the topic of globalization as it relates to public finance. Rosen & Gayer (2014), Sackery, Schneider & Knoedler (2016), Marlin-Bennett (2017), Ravenhill (2008) and Weingast & Witman (2006) will provide insights into the development of the discipline and its modus operendi. The historical development of the discipline will be provided for by Ingram (1915) and the aforementioned authors will also provide insights into the weakness and strengths of the policy to globalize. Garett & Mitchell (2001) and Kumar (2006) will provide additional insights into the importance of globalization as it pertains to public finance

Impact of Devaluation on Trade Balance in Pakistan

The purpose of this paper is to find the impact of devaluation on trade balance in Pakistan in both long and short run using bound testing approach to Cointegration and Error Correction Mechanism (ECM). The result shows that devaluation is effective in improving trade balance and there is a cointegrated relationship between the real effective exchange rate and trade balance in the long run.

Causes of deforestation and climatic changes in Dir Kohistan

Pakistan is on 2nd position among those countries, where deforestation rate is very high. The current work is design to highlight the facts, real causes and impacts of deforestation and forest degradation in “Dir Kohistan” of K.P.K Pakistan, by incorporating the view of local people through a questionnaire. According to this survey about 83% of the local people are dependent on these forests and contribute to deforestation in one of different ways regardless of any rule regulation. The current study shows that the extensive deforestation in the mention area occurs for household needs (cooking, furniture, heating, earning etc). Another growing cause is the cutting of these forests for livestock purposes. Along this the nonscientific grazing is a key point in the deforestation. Unemployment and poverty is another attractive factor in the degradation of these forests. However the role of black marketing and role of stake holders on these forests should not be neglected in deforestation. Meanwhile the ineffective management and ignorance of the forest department is one of the major contributing factors in deforestation. This study also highlights the climatic changes in Dir Kohistan, since 1983 to 2012. The climatic data of mention area assimilated through survey, online source and meteorological station. The climatic data show that there is increase in temperature (0.33°C), decrease in rainfall (148.2mm) and humidity (1.4%). The underlying causes of deforestation in “Dir Kohistan” need the attention of government authority to resolve these causes, implementing strong rules regulations in order to mitigate the climatic changes and save this ecosystem. Keywords: Forest, Deforestation, Causes, Climate changes, Dir Kohista

The Weight of Economic Growth and Urbanization on Electricity Demand in UAE

This study aims to explore the relationship between economic growth, urbanization, financial development and electricity consumption in case of United Arab Emirates. The study covers the time period of 1975-2011. We have applied the ARDL bounds testing to examine long run relationship between the variables in the presence of structural breaks. The VECM Granger causality is applied to investigate the direction of causal relationship between the variables. Our empirical exercise found cointegration between the series in case of United Arab Emirates. Further, results reveal that inverted U-shaped relationship is found between economic growth and electricity consumption i.e. economic growth raises electricity consumption initially and declines it after a threshold level of income per capita. Financial development adds in electricity consumption. The relationship between urbanization and electricity consumption is also inverted U-shaped. This implies that urbanization increases electricity consumption initially and after a threshold level of urbanization, electricity demand falls. The causality analysis finds feedback hypothesis between economic growth and electricity consumption i.e. economic growth and electricity consumption are interdependent. The bidirectional causality is found between financial development and electricity consumption. Economic growth and urbanization Granger cause each other. The feedback hypothesis is also found between urbanization and financial development, financial development and economic growth and same is true for electricity consumption and urbanization.

Design and implementation of hybrid vehicle using control of DC electric motor

The electric motors and its control technology are key components of hybrid electric vehicles (HEVs). Control of the electric motor is a fundamental issue for traction application in electric vehicles and HEVs. This paper presents the design, development and implementation of a hybrid vehicle using both an electric motor and petrol engine to increase efficiency and decrease carbon footprint. Initially, a prototype of a HEV is designed and the performance values are calculated, before a control system is developed and implemented to control the DC motor speed using a microcontroller as the vehicle’s electronic control unit along with simple proportional integral derivative (PID) control using speed as a feedback mechanism. The prototype made incorporated voltage, current, speed and torque sensors for feedback resulting in a closed loop control system which successfully matched the speed input of a user-controlled pedal sensor. A user interface was developed to show the driver of the vehicle key variables such as the revolutions per minute (RPM) of the motor, the speed of the vehicle along with the current being drawn, and the voltage applied to the motor with overall power. To output a variable voltage from the Arduino, a digital output was used with pulse width modulation (PWM) capabilities in order to provide a variable DC voltage to the speed controller

Exploitation in a disruptive and unjust gig-economy.

The purpose of this report is an appraisal of the gig economy; educating and informing an academic audience of the faults that exist and how these faults lead to exploitation and unjustness in the gig economy. During the writing process, I researched the academic articles and books related to the gig economy and exploitation, enabling myself to form a solid foundation from which to conduct further research. In addition, work was conducted to synthesize the journal articles, online resources and books. The scope of this report examines the corpus of the text relating to the gig economy and exploitation and I emphasize some of the ways the writers manage to display the exploitation and the unjustness in the gig economy