European Parliament plays a role in the EU's legislative and budgeting processes, and exercises general supervision over the work of the two other main EU bodies, the Council of the European Union (Council of Ministers) and the European Commission. ... The EP cannot initiate legislation; that right rests solely with the Commission, which functions as the EU's executive and guarantor of the EU treaties.The Council, the EU's main decision-making body comprised of ministers from the national governments, enacts legislation based on Com ­mission proposals, after it consults with the Par ­liament...

• Word Count: 1861
• Approx Pages: 7
• Has Bibliography
• Grade Level: Graduate

During the past three centuries, three economists stood out as archetypes, symbols of three distinct approaches to economic philosophy: Adam Smith, father of modern economics who advocated the notion of free market/trade and the "invisible hand guiding the individual"; Karl Marx, who opposed Smith and the capitalist system and believed that the pursuit of self- interest would lead to anarchy; and John Maynard Keynes, who advocated a mixed economy approach, which is predominantly private sector, but with a role of the government intervention during recessions.'1 Traditional economic t...

• Word Count: 1960
• Approx Pages: 8
• Has Bibliography
• Grade Level: Undergraduate