Economics Essay

Planet Money Episode 427 Essay
Lebron James gets paid $17.5 million per year and the hosts are talking about how he gets underpaid, which is a total crock. When Lebron left the Cavaliers, the teams worth went down 25% and the Miami Heat’s value went up 30$ and it was calculated by Forbes Magazine that he should be getting paid $40 million per year, but he can’t be paid that due to the salary cap. The owners keep the money that really should be going towards Lebron James market value per year salary. There are also lesser known players that are getting money that should be paid less like Mike Miller who is getting paid $6 million dollars per year.
A team like the Wizards, who are the most god awful team in the league has a chance to get better and spend money on a better player thanks to the salary cap. If the Wizards were a business they would be done for without a salary cap. The league can stay competitive buy paying players far less than they are worth especially in small cities like Oklahoma City. If there was no salary cap, the Thunder wouldn’t be as good as they are because they wouldn’t be earning the same revenue that a market like New York or Miami generate.
As a Thunder fan, it’s music to my ears to hear that Lebron James is getting hosed by the rest of the NBA. I never thought he would be out $20 million though. I didn’t realize how important the salary cap was to the rest of the NBA though. I thought the salary cap was to prevent the players from getting lazy and not playing their hardest from night to night. I do think it would be interesting to see bad teams essentially go out of business and wait to get bought by another owner of another city. It would be a matter of time before your city was to buy a bad team. However in the end it is nice to have the Thunder make to playoffs year after year so I’m fine with the way the salary cap is.

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economics essay

Introduction
The global economic environment has experienced rapid development over the last decades integrated with the liberalization and substantial policy reforms. Many developing countries benefitted from international trade agreement and globalization and actively engaged in implementing suitable economic policies to lower trade barriers and provide market access to bolster their economy. Among these emerging markets, China is a prime example. The economic performance of China has been undoubtedly impressive. It has one of the fastest-growing economies in the world averaging 9% GDP growth over the last 30 years. The country is now the second largest economy as well as the second largest trading nations behind the US. Following the reform at the beginning of the 1980s, China has successfully transformed itself from a primarily agricultural based economy to manufacturing and services oriented. The structural changes took place at the state and firm level led to massive transformation in the structure of economic and social life in china. The economic growth creates a large number of job opportunities and brings a great deal of foreign currency, which leads to considerably improved living standards. Production Output Performance Analysis
The Gross Domestic Product (GDP) measures the market value of overall output of goods and services produced in a nation domestically in a single year (Hubbard et al., 2010). From 2004 to 2013,China’s real GDP grew steadily from 1640 to 8230 billion US dollars. A much smoother rise was found during the period of 2004 to 2008. Then, it experienced a sharp increase from 2010 to 2013. Generally, the GDP performance of China is strong relative to the rest of the world economy.
The GDP growth rate indicates a country’s economic health, and how fast the economy is growing. From 2004 to 2013, China’s average annual growth rate is 10.2% and the GDP reached its peak during 2007 at nearly 14 percent. However, It is worth…

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