Analysis is the most difficult thing performing on the earth because of the association of numerous issues with it. Every single person in this mortal world has a different mindset and analytical skills. The analytical skills and mindset of a person can be matched with the other person in any slant. There are numerous kinds of analysis like financial analysis, investment analysis and character analysis. There is another kind of analysis called Book analysis.
According to different authors, books are the best friends of a person and a person can have additional advantages and benefits from reading the books. There are hundreds of books available in the market and every book has its own importance. This is also an analysis of a book with the name of Not Buying It, written by Judith Levine. The main perspective of this assignment is to analyze the argument initiated in this book written by Judith.
Judith Levine was born in 1952 and is known as an American writer and journalist, civil libertarian, one of the founders of the National Writers Union (known as a trade union of the freelance and contract writers) and the No More Nice Girls (famous as a group aimed to promote the rights for abortion trough the theatre on the street.) Also, Judith Levine is known as a board member of the Vermont Chapter of the ACLU and National Centre for Reason and Justice.
She has done a lot of work and wrote articles on the theme of consumerism, sex and gender, aging population and culture for such famous magazines and papers as Vogue, Harper’s, New York Times and the AARP: the magazine. One of her columns, named “Poli Psy” was considered to be the best political column in 2006 (Association of the Alternative News Weeklies). Levine is also famous for writing columns in New York Woman and the web site oxygen.com.
However, her most outstanding success came after the book published in 2002, Harmful to Minors: The Perils of Protecting Children from Sex. In this book she highlights the liberalization of the ages-of-consent rules and regulations in the US and the concept of minor people as the sexual beings, which she considers is well-spread in Western Europe. The author is against the US law which governs the possession of the child pornography, the conduct of statutory rape and the access of abortions to underage. There has been a lot of criticism due to her work; her publications resulted in controversy in Minnesota state legislature. However, this book was widely supported by those who advocate liberalization process.
The argument initiated in this book is buying power of individual. The idea initiated in this assignment relates to purchasing power parity. Let’s first have a definition of the PPP and then the analysis of the book.
Customer is the one who Pays your Salary (Quote)
Purchasing Power Parity (PPP): A Helicopter View
According to some economists, PPP is a theory while according to some point of view it is a condition. In order to consider every opinion right, theory and condition word will be used interchangeably throughout this text (Ansari, 2002).
Income Level of Two Individuals Can not Be the Same Always (Quote)
Purchasing Power Parity (PPP) is a condition between countries where the amount of money has the same purchasing power in different countries (Ansari, 2002). This is one of the researched theories in the literature of economics whose concepts are still extremely difficult to grab. Gustav Cassel is known as the father of this theory presented it in the year 1918 (Dag & Von, 2007). Likewise, the definition of economics, there is no single definition is available of this particular term as well. Another interpretation of PPP is that, there is the difference in the rate of change of prices at homes and aboard. Changes in the inflation rate, exchange rate and interest rate are all the examples of PPP (Drury, 2007).
Purchasing Power is Not a Good Medium to Assess the Income Level of a Person (Quote)
There is a strong relationship of economic literature and the practice of PPP. The relationship can be found easily with the help of a short example (Michael, 1999). Suppose there is a company Unilever which has its operations in around 80 countries worldwide (Umit & Carrier, 1998). A product of Unilever like Pentene has the same Purchasing Power Parity regardless of the country of origin. It means that the product has the same purchasing power in the United States and the same in India as well (Umit & Carrier, 1998).
An Economy Would be Analyzed by Its Saving and Consumption Rate (Quote)
As discussed earlier, this particular theory or condition belongs to macroeconomics, largest branch of economic literature which deals with the economy of a country as a whole (Umit & Carrier, 1998). The contribution of organisation in an economy is of manifold and important as well at the same time. The condition and theory of PPP is extremely important either from individuals or from the standpoint of organisations. There are certain things which can be applied to this concept. Specifically organisations use this condition in order to maintain the price mechanism among their products.
Economics is the Subject of (Quote)
Analysis of the Argument
Economics is a king subject and its applicability can be found in every walk of life. There are two kinds of economics, micro and macro. The issue raised in this assignment basically relates to micro economics. Obviously, the buying power of every individual is different from the other, no matter it based on a country or on different countries. The power of purchasing is considered to be the number of services or goods that one can buy for some amount of money or currency. For instance, if you had had dollar in 1950s, you would probably have been able to by more goods than today, mentioning that you would be richer with greater purchasing power than today. This kind of currency possibly can be gold or silver, money, free-floating market-valued currency like euros or dollars. According to Adam Smith, owning some money gives the opportunity to “command” the labour of others. That is why the purchasing power is somehow a power of wealth over people, that people are trading their labour for money. The idea presented by the author in this assignment is all about the purchasing power and buying power parity which is an important provision in the literature of economics.