20 O’Connell Street
North Adelaide, 5006
7th February, 2018
The Editor
The Advertiser
539 Greenhill Road
Hazelwood Park, 5066
Dear Editor,
As a local resident of Adelaide, I am delighted that for the past fourteen years the Clipsal 500 has been very much a part of South Australia. I applaud South Australian Motor Sport Board for this event. The Clipsal has benefited the South Australian economy while promoting tourism and providing entertainment for all ages.
The economic benefits of the Clipsal 500 has continued to grow the South Australian economy dramatically since 1999. In 1999, economic benefit resulted in $13.7 million. However, in the last sixteen years it contributed to a profit of $285 million to the South Australian economy. Many businesses such as small cafés, restaurants and hotels all are foundations of money raised from the event. Over the course of the years, the benefits raised from the Clipsal 500 has improved the South Australian economy dramatically, resulting in upgrades to Adelaide roads, emergency centres and or public transport. Due to South Australia only hosting few of the many popular events, Clipsal has become the main event held every year.
In addition, the Clipsal 500 has had a massive increase in tourist to South Australia. The V8 Supercar series in South
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Entertainment is paramount at the Clipsal 500. During this event daily on-circuit concerts with off-track family entertainment is provided. During this event, night time off-track concerts as well as international bands such as Kiss and Motley Crue provide cheaper entertainment for the fans. This event also allows local young musicians to be part of the concert as a support band. Another major component of the Clipsal 500 is the off-track entertainment. This includes the Australia Defence Force performing spectacular air display by RAAF Roulettes, Acrobatic Display and other family fun orientated
About 75 million people have watched NASCAR. About 12.66% watch NASCAR and follow it one way or another. The other 10.49% (34 million) will know a racer or two. In a period of 10 years (1996-2006) sales have shot up over $2,199,999,400. The sales have gone from 600/year-2.2billion/year. These both show that it is a very popular sport and growing in popularity.
The nightclub, is an aged, small wood structure in Rhode Island. The club is reported to have a capacity of 182 people. On February 20th 2003, more than 400 fans packed into the small club to see the band. Although there are discrepancies between reports of how many people were in attendance, it is obvious that the number is well over twice the club's capacity. During the performance, as part of the act, pyrotechnics were deployed.
December of 2007 saw the beginning of the worst economic downturn in memorable history; not since the end of the Great Depression in 1939 has the world seen such a devastating and long-lasting economic breakdown. The Great Recession shook the public’s faith in the capitalist system and silenced those who claimed a modern economy was impervious to another broad collapse like the one in 1929. Discontent and mistrust from the public has built not only with large corporations and the financial sector, but also with the government whose legislature and policies in recent decades seem to coincide with the interests of private corporate power-houses. These lenient policies contributed directly to the recession that affected individuals across the globe. Stunted wages, increased poverty,
Paul De Grauwe published, “Yes, It’s the economy, stupid, but is it demand or supply?” on January 24, 2014 for CEPS Commentary. According to Paul De Grauwe, policy-makers are trying to fight a problem with the ‘wrong medicine’ as he puts it. He explains how before the 1970s economists focused on demand control; then when the 1970s came a supply shock that they were unprepared for hit. Due to this unpredicted supply shock, economists started developing different supply-side models that would hopefully combat this problem and keep it from happening again. However, with the corrections from the supply shock, they no longer focused on demand, and that resulted in a demand shock in 2008, where repeated mistakes occurred. François Hollande is mentioned to believe in the power of free market and that “…supply-side economics together with rejection of demand management is based on an ideological premise that markets have self-regulating characteristics, and that unemployment with therefore disappear automatically…” (Grauwe 4)
The Great Recession of 2007-2009 was very harmful to the economy of the United states. Many people lost their jobs and were forced to work at lower wages, so the demand for consumer goods dropped. Homeowners were also hurt because the value of housing and real estate crashed. This decrease in wealth pushed back the retirement age for many people.
The article Digital Technology and Institutional Change from the Gilded Age to Modern Times: The Impact of the Telegraph and the Internet describes the difficulties that exist when trying to create an accurate economic model showing responses to new, economy changing, technologies. The author Ronnie Phillips mainly focuses on institutional economics and, by showing the history of other technological advances, the need for institutional analysis. He explains how the challenge is to explain societal change, recognize what and how it happens, and create policies that will "foster" increased living standards throughout the world.
Adam smith wrote in his masterpiece, the wealth of nations, “It is the necessary, though very slow and gradual consequence of a certain propensity in human nature which has in view no such extensive utility; the propensity to truck, barter, and exchange one thing for another”. This propensity in human nature led to the development of currency – a medium of exchange accepted by a community of people. For centuries gold and silver were used around the world as currency; in 1834 the United States, formerly on a bimetallic standard, converted to a gold de facto standard. This policy made it so the dollar was backed by gold at a ratio of $20.67 per ounce. The Gold standard was used until August 15, 1971 when President Richard Nixon announced that the United States would no longer redeem currency for gold. (Bordo, n.d.) Instead a fiat monetary system – currency not backed by gold – would be used. Both systems have their advantages and
The Marshall Plan was proposed by Secretary of State-- George C. Marshall at Harvard University on June 5, 1947. Marshall mentioned the terrible condition of Europe at the beginning of the speech, and he convinced that US should set up an aid program for Europe to recover their economy. The Marshall Plan was a 4-year aid program which the United States had to give over $12 billion to the countries in Western Europe to help them rebuild their economy since most part of Europe was devastated by World War 2. $12 billion was not a small amount of aid which was a huge cost for the United States. Why would the Marshall Plan still be approved and what was its benefit for the United States?
To start with, what is the meaning of the Single Market? According to European Commission website, Single Market indicates the EU as one territory that has no internal borders or any other controlling complications that lead to the free movement of booth services and goods (The European Single Market - European Commission, 2017). According to the same source, single market has great benefits. It encourages competition and trade, increases efficiency, promotes quality, as well as helps in cutting the prices. In addition, the same source considers the European Single Market as one of the EU’s ultimate accomplishments that powered the economic growth and made the everyday life of European businesses and consumers easier (The European Single Market - European Commission, 2017).
Beginning with the birth of the twentieth century, the United States was in a dilemma. America needed amelioration; the country had a tremendous amount of potential but was unable to put forth the necessary actions without the correct guidance. It was vital that the United States was pointed in the right direction or more problems would occur. America required political reform and the elimination of corruption caused by the government, thus, the time prevailed for the Progressive Presidents.
The Adelaide Fringe is truly a festival for the entire community; it offers entertainment and attracts other people from different countries. With more people coming in from different countries it boosts up the economy because the visitors will have to pay for, accommodation, food, transportation and any other activities which they may want to involve themselves in. This then gives our economy a boost as it is receiving money from other countries which can then be used to improve Adelaide. The Adelaide Fringe has an economic and social impact on Adelaide as it also creates jobs, boosts local business, attracts visitors, helps retain people within the State, and increases Adelaide’s national and international reputation.
It was New Year’s Eve. Often during so, the clubs and bars would be brimming with youth and underage teenagers waiting to count down to New Year’s Day. However, I spent my New Year’s Eve in the Staples Center in Los Angeles, California. The sports arena was mostly crowded with middle aged adults and everyone was there not to watch a game, but to bid farewell to a legendary hair metal band, Mötley Crüe. The band’s career spanned three decades and they ended it all at the birthplace of hair metal - Los Angeles, California. I really enjoyed the show because even though the band has aged staggeringly, they managed to maintain the elements of a hair metal concert – face-melting guitar solos, pyrotechnics, female dancers in skimpy clothing, and to
Over the last few years California has had a huge increase in lottery sales due to new fascinating games and the increase of large prize money that gets bigger and bigger every year. Even if they lose, many players feel they are doing something good for the economy by simply purchasing a
Globalization is associated with bringing together world economies and cultures. Globalization is a controvertible conception. This allows powerful corporation change local enterprises and in the future make the gaps big between, rich people and poor people. The benefits of an international market to integrated where labour, ideas, capital and goods can be free and to promote the economic development all of the levels in the society. Globalization is a process to interact and integrate among companies, people and the governments of other nations. Globalization is process which international organization, corporations, individuals and communities has become more interconnected with politics, cultures and the earths environment. “It is characterized
Ziakas, V & Costa, C 2011, ‘The Use of an Event Portfolio in Regional Community and Tourism Development’, Creating Synergy between Sport and Cultural Events, vol. 16, no. 2, pp. 149-175.