Economics Term Paper Example | Topics and Well Written Essays - 1250 words

Economics - Term Paper Example In their notable works, famous economic thinkers such as Mishan (1967), Scitovsky (1976) and Arrow et al. (1995) have critiqued GDP, arguing that it is a significant mathematical measure, but not a comprehensive measure of the economic activity of a nation (Kitov, n.d.). In the recent past, GDP economic measure has been considered equal to the social welfare of society. It is evident with the recent adoption of the term "standard of living", used synonymously with GDP. However, this relationship is not buoyed by any significant macroeconomic concept, but has become a habit in the recent past. What is conceivably utmost conspicuous is that a huge bulk of reporters and legislators, irrespective of their party-political inclinations, make very credulous declarations about GDP (vintrova, n.d.). It is therefore not astounding then that we see the majority of people in the world prefer economic growth in terms of GDP growth. The same has been supported by an obvious emphasis on GDP growth by global institutions such as the OECD and IMF. Numerous items and events in this life cannot be assessed through GDP, but they are measurable using the cadent of education, health, clean environment, social welfare, freedom and many others. A famous economist started the process of distinguishing the commodities that are comprised in the GDP measure and the capabilities that are omitted from it. His efforts, buoyed by his colleagues efforts led to the notable discoveries of techniques of supplanting GDP. There are various flaws associated with the GDP measure of economic growth. Key among them; it is reported that GDP measures average costs rather than the benefits that emanate from the market operations. It is also said that GDP leaves out many external costs associated with the country’s economic growth. In the years between 1950 and 1965, a negative mean welfare trend was experienced in

Earliest Microsoft operating systems to the present-day release of Essay

Earliest Microsoft operating systems to the present-day release of Windows Vista - Essay Example Rowland Hanson, marketing head of Microsoft suggested that Windows would be a very appealing name to the customer when compared to â€Å"Interface Manager†, which was supposed to be its name. Windows 1.0 was rather an operating environment than a complete operating system; it extended MS-DOS and shared the intrinsic problems and flaws of the latter. It included a simple word processor called Windows Write, an appointment calendar, a simple graphics painting program called Windows Paint, a computer terminal, a clock, a control panel, a notepad, a card filer, and a RAM driver. The MS-DOS Executive and a game called Reversi were also included in the first version. On the 9th of December 1987 the second version of Microsoft Windows 2.0 was released, and gained more popularity than the first version. â€Å"Windows 2.0 supported the Video Graphics Array (VGA) display System, which allowed you to use 16 colors at 640x480† (Shinder, 2003, p. 5). It achieved more popularity than the first version because of the new Microsoft graphical applications namely Word and Excel for Windows, and because of its inclusion as a run-time version. Windows 3.0 version which was released in the year1990 was quite successful because apart from improved capabilities to the native applications it also allowed the users to a more advanced multitask based on older MS-DOS software when compared to Windows/386 due to the introduction of virtual memory. The third version of Windows gave strong competition to the user interface of the Macintosh computer. This version of Windows was compatible with any Intel processor from 8086/8088 to 80286 and 80386 and could run in Standard, Real and 386 Enhanced modes, and was the first version to run Windows program in protected mode, even though 386 enhanced mode kernel was an improved version of the kernel protected mode in