Wednesday, May 6, 2020

The Failure Of The Economic Collapse Of Flint, Michigan

As metropolitans continue to grow at exponential rates, the collapse of industrial cities such as Flint, Michigan have been a result of the destructive nature of three economic policy initiatives: The North American Free Trade Agreement, the repeal of the Glass-Steagall Act, and welfare reform. In this paper I will examine the ways in which federal economic policies have served as a catalyst to the economic stress that led one of America’s historical industrial cities to be faced with a contaminated water supply due to a disparity in marginal benefit, private benefit and social cost. In April of 2014 news broke that when Flint, Michigan changed its water source from the treated Detroit Water and Sewerage Department to the Flint River that†¦show more content†¦Following the enactment of NAFTA, Flint would take on another economic burden as a result of the repeal of the Glass-Steagall Act. The Glass-Steagall Act was an act passed by the U.S. Congress in 1933. This piece of legislation functioned as a banking act that prohibited commercial banks from participating in the investment of banking business (source). It also created the Federal Deposit Insurance Corporation (FDIC), the Federal Open Market Committee (FOMC) and Regulation Q, institutions that served the purpose of maintaining the essence of the legislation. Essentially, the Glass-Steagall Act was passed as an emergency measure to counter the effects of the Great Depression by stopping bank runs and to restore confidence in the banking system. In 1999 President Clinton repealed the act in an effort to â€Å"modernize† financial regulation, this deregulated financial derivatives by effectively eliminating financial regulations. The repeal of the Glass-Steagall act was notably one of the most potent factors that almost led America into its second economic collapse. As a result, between 1999 and 2009 unemployment rates had quadrupled from roughly 4% to 17% in Flint, Michigan. In the same turn, President Clinton had not only attempted to modernize financial regulations, but he had also set out to change welfare as we knew it. In doing so, President Clinton decided to replace the Aid to Families with Dependent Children Program (AFDC) with the Temporary Assistance for NeedyShow MoreRelatedGm Bankruptcy11472 Words   |  46 Pageswas founded on Wednesday, September 16, 1908, in Flint, Michigan, as a holding company for Buick after he signed a 15 year contract in Canada with the exchange of 500,000 shares of Buick stock for 500,000 shares of McLaughlin Stock and Dr. Campbell, W Durant’s son in-law put 1,000,000 shares on the stock market in Chicago Buick (then controlled by William C. Durant). Durant s company, the Durant-Dort Carriage Company, had been in business in Flint since 1886, and by 1900, was producing over 100Read MoreGeneral Motors Analysis Essay8283 Words   |  34 PagesGeneral Motors Analysis I. Executive Summary II. Company Overview and History III. 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Admission Essay for Johns Hopkins Master in Marketing Free Essays

Everything that a man wishes to happen in life comes at the right time and with a great purpose. As a promising professional in the field of Business, I aspire for higher educational opportunities which will make me more equip in the future. I want to broaden my knowledge and cultivate more of my skills so that I can land to a better and good paying job in the future. We will write a custom essay sample on Admission Essay for Johns Hopkins Master in Marketing or any similar topic only for you Order Now I am confident that the Master’s in marketing degree from Carey School of Business at John Hopkins University will make me another step closer to my dreams. It will enable me to meet all my goals in life and share what I have learned through service to people. My name is Amin Khayat a graduate of University of New Haven, Connecticut in 2004 with a degree in B.S in Marketing and Electronic Commerce. The vast knowledge and experience I gained from both my academic and professional life is not yet sufficient to satisfy my craving for education and success. The nature of my job is really diverse and I was astonished by the fact that there is a program   offered by John Hopkins University that will make my professional life more meaningful and productive. I have learning needs in terms of defining product strategy and road map, gathering and prioritizing product and customer requirement, compiling market data to deliver winning products, setting   product prices, pricing strategy and meeting company revenue and profitability goals. There are also analysis and understanding skills that needs to be developed on my part so that I can battle against market competition in the future and be more available for professional opportunities. A state of the art communication and marketing is greatly needed in the business world. I believe that this is also part of my primary needs which made me more motivated to attend the program at John Hopkins University. I have set career goals both in long term and short term. Securing a med level position with a firm that offers me greener pasture and chances of having more opportunities is part of my short term goal. I believe that the program is designed to make promising students like me to be more equipped in the acquisition, competence and scope of responsibility at any marketing firm. I am determined to find a job at a firm that will guide, advice, inspire and counsel me. After acquiring the right amount of experience, I will pursue my long term goals and that is to establish a firm of my own. Through hard work and dedication, I believe that nothing is impossible for me to do because all the things I will learn from the program will be maximized into full potential. I hope to rise in the corporate hierarchy and attain a level of marketing management that would enable me to use not only my undergraduate and graduate studies, but to make use of my own imagination and my creativity to contribute to the financial success of the firm that employs me. I would find a deep and intense personal and professional satisfaction and gratification from either of these two career paths. The MBA program of John Hopkins Carey School of Business will provide me with the adequate knowledge and skills far better than my previous academic and work experience. It is an advantage on my part to have diverse personality because I can meet different people from all walks of life. My ability to communicate in my first language, Arabic, and my second language, English, becomes evident from global communication. All these can also lead me to greater heights in my future profession. I anticipate my future with success. Through the MBA program I will meet both my needs and goals in life because this university recruits only the best and finest students. It has wide array of academic resources and competent professor who will teach me the expertise in Business marketing. I feel truly blessed to find myself free to pursue my immediate academic goals to reach my fullest potential, without undue concern about financial support.   Your school can help me achieve my goals of competence as a generalist and a specialist in marketing management. How to cite Admission Essay for Johns Hopkins Master in Marketing, Essays