The institution of slavery in the American South of the antebellum Essay

The institution of slavery in the American South of the antebellum period - Essay Example The institution of slavery, as expressed by Zinn Howard in his book â€Å"A people’s history of the United States,† is a vividly visible element of the American history. The institution developed under the watch and possible support of the then governmental administrations and thrived over time. The extent of growth in the institution of slavery in the nineteenth century was evidenced by both increase in the number of slaves and the economic output of products due to efforts of slaves in the period. Zinn for example argues that the number of slaves swiftly grew from about half a million in the beginning of the antebellum period to about four million at the end of the period. Similarly, he notes that the level of output due to slavery’s labor input also increased from a yearly output of a â€Å"thousand tons of cotton† to a â€Å"million tones output† as was reported in the year 1860.... This is because once an individual entered the institution as a slave, he, or she was subjected to be at the owner’s choice location. The owner would for example order for presence of slaves at a particular farm and the slaves would have no alternative but to be there. Similarly, the slaves would work at the owners’ schedules without any right to complain (Zinn, p. 1). At the same time, the laws that could have protected the slave’s interest were undermined. The syndicated institutions that involved management and ownership of the slaves ensured that slavery was practiced without interference of provisions of the law. As a result, any legal requirements that intended to protect the rights and freedom of the slaves at the time were disregarded, subjecting the slaves to torture and suffering. Though the slaves had moments of merry, it was not due to happiness in their lives but an avenue for rejuvenating their hopes in suffering. They for example sang songs of joy amidst physical abuse such as beatings and being chained. The hostile environment to which the slaves were subjected even led to some deaths as were reported between the years 1850 and 1855. The transactional network that could sell a slave away from family members and friends infringed the slaves’ right and freedom of association. This meant a psychological pain of losing friends or relatives with little hope of ever seeing them again or knowing what their fate would be. Such was the pain that one Abream Scriven and his family and friends had to go through when he was sold off by his master in the year 1858 (Zinn, p. 1). Though the slaves seemed to cope with the slavery in a docile, submissive, and helpless attitude that was

Education and Economics Essay Example for Free

Education and Economics Essay I. Introduction: The conventional theory of human capital developed by Becker (1962) and Mincer (1974) views education and training as the major sources of human capital accumulation that, in turn, have direct and positive effect on individuals’ life time earnings. In the Mincerian earning function, the coefficient of school years indicates the returns to education, i. e. , how much addition in earnings takes place with an additional school year. There exists a wide range of literature that estimated the rates of returns to education for different countries [Pascharapoulos (1980; 1985; and 1994); Pascharapoulos and Chu Ng (1992)]1. In Pakistan, most of the nationally representative household surveys do not contain information on variables, such as, completed years of schooling, age starting school, literacy and numeracy skills, quality of schooling, and technical training. Due to the unavailability of completed school years, one can neither compute the potential experience nor observe the effect of an additional year of schooling on individual earnings. Therefore, the available literature in Pakistan is lacking in estimating the returns to education by using the Mincerian earning function2. In recent years, the government of Pakistan has started nation-wide survey, Pakistan Integrated Household Survey (PIHS), to address the imbalances in the social sector. This survey ? The authors are Senior Research Economist and Research Economist at the Pakistan Institute of Development Economics (PIDE) Islamabad. 1 Pascharapoulos (1994) provide a comprehensive update of the estimated rates of returns to education at a global scale. He observed high social and private profitability of primary education (18%and 9% respectively) in all regions of world. The private rate of returns at this level were found highest in Asia (39%) as compared to other regions. He also noted a considerable increase in total earnings by an additional year of education in all regions of world; 13% in Sub-Saharan Africa; 10% in Asia; 12% in Europe/Middle East/North Africa; and 12% in Latin America/Caribbean. 2 At national level, only two studies are available in Pakistan that used the Mincerian earning function approach to examine the returns to education [see Shabbir and Khan (1991) and Shabbir (1994)]. However, both these studies are based on twenty years old data set. 2 provides rich information on the above mentioned variables that were missing in the earlier household surveys. This study uses the data of PIHS to examine the returns to education by using Mincerian earning function and thus aims to fill the vacuum that, due to the lack of appropriate data, exists in the literature on returns to education in Pakistan. In this paper we will first estimate the earning function with continuous school years with the assumption of uniform rate of returns for all school years. It is argued that different school years impart different skills therefore we extend our analysis to examine the addition in earning associated with extra years of schooling at different levels of education, i. e. , how much increase in earnings takes place with an extra year of schooling at different levels, such as, primary, middle, matric, intermediate, bachelors and masters. By doing so we overcome the problem that exists in the available literature in Pakistan. To our knowledge no study has yet adopted this method to examine the returns to education in Pakistan3. The impact of technical training and school quality on the earnings of fixed salaried and wage earners will be examined in this study. Based on the available data in Pakistan, most of the studies, for example, Haque (1977), Hamdani (1977), Guisinger et al (1984), Khan and Irfan (1985), Ahmad, et al (1991); and Ashraf and Ashraf (1993a, 1993b, and 1996) estimated the earning functions by defining the dummy variables for different levels of education4. These studies observe low rates of returns at different levels of education as compared to other developing countries. However, a positive association between levels of education and earnings and an inverse relationship between the degree of income inequality and educational attainment has been noted. In order to examine the inter- 3 Most of the studies on returns to education in Pakistan used dummy variables for different levels of education where the rates of returns at different levels of education are computed by the estimated coefficients. 4 In Pakistan, the data on education in most of the nationally representative household surveys have been reported in discrete form that denotes the completion of different levels of education, such as, ‘primary but incomplete middle’, ‘middle and incomplete matric’, and so on. 3 provincial differentials in returns to education, Shabbir and Khan (1991) estimated the Mincerian earning function by using a nationally representative sample, drawn from the of Population, Labour Force and Migration Survey (1979) for the literate wage earners and salaried males. Later Shabbir (1994) estimated the earning function on the extended sample of the same data set. These studies found 7 to 8 percent increase in earnings with an additional year of schooling. Although the results are consistent with those of comparable LDCs but may not reflect the recent developments in Pakistan’s economy as these studies are based on the data set which are 20 years old now. Since 1979, the economy of Pakistan has passed through various changes, especially after the inception of the Structural Adjustment Programme in late 1980s. For example, the literacy rate has increased from 26 percent to 45 percent and enrolment at primary level has increased by 67 percent. Public and household expenditures on education have also increased [Economic Survey (1998-99)]. Moreover, due to the fiscal constraints, the employment opportunities in the public sector have started shrinking and the economy is moving towards more openness with stronger role of private sector in recent years. In this scenario, it becomes imperative to re-test the role of human capital as both private and public sectors are moving towards more efficiency and productivity. This study is important from three standpoints. First, in order to estimate the effect of education on earnings, the most recent and nationally representative household survey data is used which provides detailed information on the variables that were missing in previous surveys. Second, it uses the splines of education in the earning function to examine the additional earnings associated with extra school years at different levels. Third, this study investigates the role of some important factors such as, technical training, school quality, and literacy and numeracy skills on earnings for the first time. 4 The rest of the paper is organised as follows: section 2 presents an overview of the education sector. Section 3 outlines the model for empirical estimation and describes data. Section 4 reports the results. Conclusions and policy Implications are presented in the last Section. II. The Education Sector in Pakistan: An Overview: Education plays an important role in human capital formation. It raises the productivity and efficiency of individuals and thus produces skilled manpower that is capable of leading the economy towards the path of sustainable economic development. Like many other developing countries, the situation of the education sector in Pakistan is not very encouraging. The low enrolment rates at the primary level, wide disparities between regions and gender, lack of trained teachers, deficiency of proper teaching materials and poor physical infrastructure of schools indicate the poor performance of this sector. The overall literacy rate for 1997-98 was estimated at 40 percent; 51 percent for males and 28 percent for females; 60 percent in urban areas and 30 percent in rural areas. These rates are still among the lowest in the world. Due to various measures in recent years, the enrolment rates have increased considerably. However, the high drop-out rate could not be controlled at primary level. Moreover, under-utilisation of the existing educational infrastructure can be seen through low student-institution ratio, (almost 18 students per class per institution) low teacher-institution ratio (2 teachers per institution) and high studentteacher ratio (46 students per teacher). The extremely low levels of public investment are the major cause of the poor performance of Pakistan’s education sector. Public expenditure on education remained less than 2 percent of GNP before 1984-85. In recent years it has increased to 2. 2 percent. In addition, the allocation of government funds is skewed towards higher education so that the benefits of public subsidy on education are largely reaped by the upper income class. Many of the highly educated 5 go abroad either for higher education or in search of better job opportunities. Most of them do not return and cause a large public loss. After mid-1980s, each government announced special programs for the improvement of the education sector. However, due to the political instability, none of these programs could achieve their targets. The Social Action Program was launched in early 1990s to address the imbalances in the social sector. This program aims to enhance education; to improve school environment by providing trained teachers, teaching aids and quality text books; and to reduce gender and regional disparities. The Phase-I of SAP (1993-96) has been completed and Phase-II is in progress. The gains from the Phase-I are still debatable because the rise in enrolment ratio has not been confirmed by the independent sources. Irrespective of this outcome, government has started work on Phase-II of SAP. In this Phase, government is paying special attention to promote technical and vocational education, expanding higher education in public as well as in the private sector, enhancing computer literacy, promoting scientific education, and improving curriculum for schools and teachers training institutions in addition to promoting primary and secondary education. Due to low levels of educational attainment and lack of technical and vocational education, Pakistan’s labour market is dominated by less educated and unskilled manpower. A considerable rise in the number of educational institutions and enrolment after 1980s is not yet reflected in Pakistan’s labour market. This might be due to the fact that most of the bachelor’s and master’s degree programmes emphasise only on academic education without developing specific skills. The sluggish demand for the graduates of these programs in the job markets leads to unemployment among the educated and the job market remains dominated by the less educated. In this scenario, it becomes important to explore the role of education for the economic benefit of individuals. 6 III. Theoretical Model and Estimation Methodology: We start with the human capital model developed by Becker (1964) and Mincer (1974) where natural logarithm of monthly earnings are the linear function of completed school years, experience and its square. In mathematical form the equation can be written as: ln Wi = ? 0 + ? 1 EDU i + ? 2 EXPi + ? 3 ( EXPi ) 2 + Ui (1) where ln Wi stands for natural logarithm of monthly earnings, EDUi represents completed years of schooling, and EXPi is the labor market experience of ith individual. ?1 implies the marginal rate of return to schooling. A positive value of ? 2 and negative value of ? 3 reflects the concavity of the earning function with respect to experience. Ui is the error term, assumed to be normally and identically distributed. It has been argued in the literature that different school years impart different skills and hence affect earnings differently. Therefore, it is misleading to assume a uniform rate of return for all educational levels. Most of the previous studies used dummy variables to capture the effect of different levels of education. In order to examine the effect of school years at different levels of education, van der Gaag and Vijverberg (1989) divided the years of schooling according to the school systems of Cote d’ Ivore. Similarly Khandker (1990) also used years of primary, secondary and post-secondary schooling in wage function for Peru. Both studies found significant differences in returns to education at different levels of education. Following van der Gaag and Vijverberg (1989), we divide the school years into seven categories according to the education system of Pakistan. In Pakistan, the primary education consists of 5 years of schooling; middle requires 3 more years; and by completing 2 more years of schooling after middle, an individual obtains a secondary school certificate i. e. , Matric. After matric , i. e. , 10 years of schooling, students have a choice between technical and formal education. Technical education 7 can be obtained from technical institutions which award diploma after 3 years of education while the certificate of intermediate can be obtained after two years of formal education. After the completion of intermediate certificate, students can enter either in the professional colleges for four years or in non-professional bachelors degree program for two years in a college. Those who choose non-professional degree can pursue their studies in a university for masters for two more years. At this stage the graduates of professional and non-professional colleges complete 16 years of education. They can now proceed to the M. Phil. or Ph. D. degrees. In order to examine the returns to education at different splines of education, we estimate the following extended earning function. ln Wi = ? 0 + ? 1Yrs Pr imi + ? 2 YrsMid i + ? 3YrsMati + ? 4 YrsInteri + ? 5 YrsBAi + (2) ? 6 Yrs Pr of i + ? 7 EXPi + ? 8 ( EXPi ) 2 + Ui where YrsPrim, YrsMid, YrsMat YrsInter YrsBA YrsProf are defined as: YrsPrim = D5EDUi YrsMid = D8EDUi YrsMat = D10EDUi YrsInter = D12EDUi YrsBA = D14EDUi YrsProf = D16EDUi where D5 = 1 if where D8 = 1 if where D10 = 1 if where D12 = 1 if where D14 = 1 if where D16 = 1 if 0 EDU ? 5 5 EDU ? 8 8 EDU ? 10 10 EDU ? 12 12 EDU ? 14 EDU 14 The coefficients associated with YrsPrim, YrsMid, YrsMat YrsInter YrsBA YrsProf in equation 2 imply an increase in income with one year increase in education at respective levels. For example, the returns to five completed years of education at primary level will be 5*? 1. Similarly, the returns to for six, seven and eight of education will be 5*? 1+? 2, 5*? 1+2? 2, and 5*? 1+3? 2 respectively. On the same lines we can compute the returns to education at each level as: 8 Returns to Primary =5*? 1 Returns to Middle =5*? 1+3*? 2 Returns to Matric= 5*? 1+3*? 2+2*? 3 Returns to Intermediate=5*? 1+3*? 2+2*? 3 +2*? 4 Returns to Bachelor’s =5*? 1+3*? 2+2*? 3 +2*? 4 +2*? 5 Returns to MA/Prof=5*? 1+3*? 2+2*? 3 +2*? 4 +2*? 5 +2*? 6 The data are drawn from the nationally representative Pakistan Integrated Household Survey 1995-96. In order to assess the performance of the Social Action Programme (SAP), the government of Pakistan has launched the series of Pakistan Integrated Household Surveys (PIHS), a collaborative nation wide data collection effort undertaken by the Federal Bureau of Statistics (FBS). So far two rounds have been completed. The first round of the PIHS is different from other round on two counts. Firstly, the information on employment and wages is available only in this round. Secondly, only 33 percent of the sample used in the first round is being repeated in the subsequent rounds. This implies that all of these rounds are independent cross-section data sets and can not be properly linked with each other to be used as panel data. Therefore, the appropriate sample can only be drawn from the first round of PIHS. This round was conducted in 1995-96, which covers 12,622 households and more than 84,000 individuals. The 1995-96 PIHS provides a detailed information on completed school years5. In addition, this survey contains information on age started school. This information is particularly important for our study to calculate the potential experience of a worker. The indicator for experience used by Mincer (1974) is a good proxy for U. S. workers as they start school at the uniform age of six years6. However, this assumption does not hold in Pakistan, as in this country there is no uniform age to start school. In urban areas, children as young as three years start going to school whereas in rural 5 This is the only nation-wide data set that provides this particular information. Similarly no other survey contains information on public and private school attendence and year starting school. 6 Mincer defined experience as (Age-education-6). 9 areas the school starting age is higher. 7 This information enables us to construct potential experience as (age-schools years-age starting school). Although experience is still a proxy for actual experience but it is relatively better measure than age and the Mincer type potential experience. In addition to education and experience, various other factors, such as quality of schooling, technical training and quality of schooling have significant impact on earning8. It has been argued that because of the market-oriented approach adopted by the private schools, the graduates of these schools earn more as compared to the graduates of public schools9. According to Sabot (1992), Behrman, Ross, Sabot and Tropp (1994), Alderman, Behrman, Ross and Sabot (1996a), Alderman, Behrman, Ross and Sabot (1996b), and Behrman, Khan, Ross and Sabot (1997), the quality of education has positive, significant and substantial impact on cognitive achievements and hence on post school productivity, measured by earnings. These studies observed higher earnings of the graduates of high quality school than those who attended a low quality school. A recent study by Nasir (1999) found considerably higher earnings for the private school graduates. These schools, however, charge higher fees. â€Å"Estimates of average annual expenditure per pupil in both government and private schools indicates that the total cost of primary level in rural areas is Rs. 437 (Rs 355 for government schools and Rs. 1252 for private schools), compared with Rs. 2038 in urban areas (Rs. 1315 for government and Rs. 3478 for private schools). This means that the cost of primary schooling is almost three times that of public schools in urban 7 The issue of age starting school has been highlighted by Ashraf and Ashraf (1993) and because of the nonavailability of this information, they used age as proxy for experience. 8 See Summers and Wolf (1977); Rizzuto and Wachtel (1980); Behrman and Birdsall (1983); Booissiere, Knight and Sabot (1985); Knight and Sabot (1990);Behrman, Ross, Sabot, and Tropp (1994); Behrman, Khan, Ross and Sabot (1997). 9 Various studies found the effectiveness of private schools to acquire cognitive skills [Colemen, Hoffer and Kilgore (1982); and Jimenez, Lockheed, Luna and Paqueo (1989)]. For Pakistan, Sabot (1992), Behrman, Ross, Sabot and Tropp (1994), Alderman, Behrman, Ross and Sabot (1996a), Alderman, Behrman, Ross and Sabot (1996b), and Behrman, Khan, Ross and Sabot (1997) found a significant variation in the cognitive skills among children with same number of school years. These studies conclude that some of the differences are due to the family characteristics while some are due to the quality of schooling. 10. areas and nearly four times in rural areas. The differences in cost of schooling also reflect the degree of quality differentials in public and private schools, and between urban and rural schools. A relatively better provision of school facilities and quality of education in private schools is causing a continuous rise in school enrolment in urban areas† [Mehmood (1999) page 20]. The PIHS provides information on the type of school attended10. On the basis of this information we can identify workers according to the school they attended and therefore examine the effect of type of school on individual earnings. In order to capture the quality of education an individual received, a dummy variable is included in the model that takes the value ‘1’ if individual is a graduate of private schools and ‘0’ otherwise. The effect of post-school training on earning has been found positive and substantial in many developing countries [see Jimenez and Kugler (1987); van der Gaag and Vijverberg (1989); Khandker (1990); and Nasir (1999)]. The PIHS contains information on years of technical training. This information helps us to examine the effect of technical training received on individual earnings. We use completed years of technical training as independent variable in the earning function. The existence of vast gender gap in human capital accumulation is evidenced by various studies in Pakistan11. The PIHS reports vast gender disparities in literacy and enrolment rates. The literacy rate among females is half than that of males’ literacy rate for whole Pakistan. This difference has increased to three-folds for rural areas. The gender difference is however smaller for the gross enrolment rate at primary level. For the higher levels of education, this difference 10. The coefficient of private school may also capture the effect of socio-economic background of workers. The data, however, does not contain such information, therefore we are unable to separate the effect of parental characteristics from the effect of private schools in worker’s earnings. 11 Sabot (1992); and Alderman, Behrman, Ross and Sabot (1996b); Sawada (1997); Shabbir (1993); and Ashraf and Ashraf (1993a, 1993b, and 1996) 11 shows an increasing trend. Similarly vast gender gap has been observed in returns to education where males earn more than the female workers [Ashraf and Ashraf (1993a, 1993b and 1996) and Nasir (1999)]. In order to capture the effect of gender, a dummy variable is introduced in the model that takes the value ‘1’ for males and ‘0’ otherwise. The regional imbalances in the provision of limited available social services are more pronounced in Pakistan. Rural areas are not only underdeveloped in terms of physical infrastructure but also neglected in gaining basic amenities. Haq (1997) calculated the disaggregated human development index for Pakistan and its provinces. He noted that nearly 56 percent of population is deprived of basic amenities of life in Pakistan; 58 percent in rural areas and 48 percent in urban areas. According to the 1995-96 PIHS, the literacy rate in urban areas is 57 percent and in rural areas it is 31 percent. The gross enrolment rate was noted 92 percent in urban areas and 68 percent in rural areas. Because of these differences low returns to education are observed in rural areas [Shabbir (1993 and 1994) and Nasir (1999)]. To capture the effect of regional differences, a dummy variable is used that takes the value ‘1’ if individual lives in urban areas and zero otherwise. The four provinces of Pakistan exhibit different characteristics in terms of economic as well as social and cultural values. Significant provincial differentials in rates of returns to education have been noted that reflect not only the differences in market opportunities but also indicate uneven expansion of social services across provinces [Khan and Irfan (1985); Shabbir and Khan (1991); Shabbir (1993); Shabbir (1994); and Haq (1997)]. The effects of these differences are captured through the use of dummy variables for each province in the earning function, Sindh being the excluded category. 12 For the purpose of analysis we restrict our sample to wage earners and salaried persons. Our sample contains 4828 individuals. Among them, 4375 are males and 453 are females. Table 1 presents the descriptive statistics of some of the salient features of the important variables. According to the statistics in table 1, average age of the individuals included in the sample is 34 years with 18 years of experience. A typical worker in the sample has completed approximately 10 years of education. A majority is graduated from public schools. Most of the workers live in urban areas. On average an individual earns Rs. 3163 per month. In our sample, there are only 22 percent individuals who received technical training. The average years spent for training are less than one year. A majority of wage earners belong to Punjab, followed by Sindh and Balochistan. Table1 Mean, Standard Deviation and Brief Definitions of Important Variables Variables W Age EDU EXP RWA MALE Urban Private Training Punjab Sindh NWFP Balochistan Mean SD Variables Definitions 3163. 34 3397. 39 Individuals monthly earnings in rupees consist of wages and salaries. 34. 07 12. 36 Age of an individual in years. 9. 53 4. 36 Completed years of schooling. 18. 14 11. 80 Total Years of labour market experience calculated as (age-school years-age starting school). 2. 37 1. 07 Categorical variables, contains 4 categories of literacy and numeracy. 0. 91 0. 29 Dichotomous variable equal to 1 if individual is male. 0. 60 0. 49 Dichotomous variable equal to 1 if individual belongs to urban area 0. 04 0. 19 Dichotomous variable equal to 1 if individual is a graduate of private school 0. 35 0. 87 Completed years of technical training 0. 38 0. 49 Dichotomous variable equal to 1 if individual belongs to Punjab 0. 31 0. 46 Dichotomous variable equal to 1 if individual belongs to Sindh 0. 15 0. 36 Dichotomous variable equal to 1 if individual belongs to NWFP 0. 16 0. 36 Dichotomous variable equal to 1 if individual belongs to Balochistan 13 IV. Empirical Results The estimated results of equation 1 and equation 2 are reported in table 2. The highly significant coefficients of school years and experience indicate the applicability of human capital model for Pakistan. An additional year of schooling raises individual’s monthly income by 7. 3 percent, which is very close to the prior studies. 12 13 The coefficient of experience shows substantial increase in wages with each additional year. The concavity of age-earnings profile is evident from the negative and significant coefficient of experience squared. The results reveal that an individual with five years of experience earns 31 percent higher wages as compared to non-experience worker. The highest level of earnings is achieved with approximately 30 years of experience. These estimates are relatively low compared to prior studies14. The positive and significant coefficients of gender (0. 401) and regional dummies (0. 178) strengthens the a priori expectation that males earn more than females and earnings are higher in urban areas as compared to rural areas. These estimates are consistent with earlier studies [see Arshaf and Ashraf (1993), Khan and Irfan (1985)]. Furthermore, significant inter-provincial differences in individual’s earnings can be observed in the estimated model. Many studies indicate substantial differences in earnings across school levels. For example, van der Gaag and Vijverberg (1989) noted that an increase of one year in elementary, high and university education causes an increase of 12 percent, 20 percent and 22 percent respectively in 12 The estimated coefficients of school years by Shabbir and Khan (1991), Shabbir (1991), Shabbir (1993) and Shabbir (1994) are found to be in the range of 6 percent to 9. 7 percent. 13 The returns to education are calculated by taking the anti-log of 0. 092 (estimated coefficient of completed school years) and subtracting from 1. To convert into percentage, multiply the value by 100. For details, please see Gujrati (1988) page 149. 14 The difference in the returns to experience could be due to the approach adopted by these studies. Most of the studies used age as a proxy for experience [see for example Khan and Irfan (1985); Ashraf and Ashraf (1993); and Nasir (1999)]. Shabbir (1991) used the Mincerian approach to calculate experience. The present study uses actual age of starting school and actual years of education. These information enable us to calculate total years of labor market experience. This approach is also not the perfect alternative for actual experience, as we do not have information about the starting time of the first job. But when compared with other approaches, it is more precise in measuring experience. 14 earnings. In order to examine the returns to education across different school years, we include the information on schooling according to the education system of Pakistan (equation 2). The results reported in column 3 of table 2 show a positive and significant impact of school years at each educational level on earnings. For example, an increase of one year in education at primary level increases the earnings by 3 percent. Similarly, at middle level, one year of schooling brings about an increase of 4 percent in earnings and the total returns to schooling at middle level are 27 percent. Table 2 Earning Function with and without Levels of Education Variables Coefficient s 6. 122 0. 072* 0. 058* -0. 001* 0. 178* 0. 401* 0. 127* -0. 113* -0. 203* 0. 412 t-ratios Coefficient s 6. 380 0. 058* -0. 001* 0. 150* 0. 264* 0. 098* -0. 112* -0. 166* 0. 027** 0. 040* 0. 050* 0. 057* 0. 071* 0. 082* 0. 429 t-ratios Coefficient s 6. 342 0. 058* -0. 001* 0. 152* 0. 262* 0. 096* -0. 108* -0. 164* 0. 052* 0. 007 0. 025* 0. 038* 0. 047* 0. 063* 0. 075* 0. 429 t-ratios Constant EDU EXP EXP2 Urban Male Balochistan NWFP Punjab RWA Yrs-Prim Yrs-Mid Yrs-Mat Yrs-Inter Yrs-BA Yrs-Prof Adj R2 148. 91 46. 71 26. 49 -19. 20 10. 31 13. 98 4. 94 -4. 34 -10. 21 92. 03 23. 85 -16. 84 7. 87 8. 15 3. 40 -4. 06 -7. 75 2. 03 5. 07 8. 69 11. 41 16. 85 21. 98 89. 25 23. 84 -16. 88 7. 98 8. 09 3. 32 -3. 91 -7. 63 2. 41 0. 45 2. 45 5. 02 7. 28 11. 47 15. 57 * significant at 99 percent level. ** significant at 95 percent level. One can note higher returns of additional year of schooling for higher educational levels from this table. For example, the returns to masters and professional education (Yrs-Prof) are more than five- 15 times higher than that of primary school years (Yrs-Prim). The results exhibit a difference of 15 percent between primary graduates and illiterates, the excluded category. This category includes illiterates as well as all those who have not obtained any formal schooling but have literacy and numeracy skills15. To further explore the earning differential between primary school graduates and those who never attended school but have literacy and numeracy skills, we have constructed an index RWA that separates illiterates from those who have literacy and numeracy skills. This index takes the value ‘zero’ if individual does not have any skill; ‘1’ if individual has only one skill; ‘2’ if individual has two skills; and ‘3’ if individual has all three skills. We re-estimated equation 2 with this new variable and the results are reported in column 5 of table 2. According to our expectations, the coefficient of RWA is found not only large (0. 05) in magnitude but also statistically significant at 99 percent level. This indicates that the individuals with all three skills earn 15 percent more than those who have no skill. On the other hand, the coefficient of Yrs-Prim dropped to 0. 007 and became insignificant16. The differential in the earnings of illiterates and those having five years of primary education was 15 percent (0. 03*5=0. 15). This differential however, reduced to approximately 9 percent (0. 007*5+0. 053=8. 8) when we include those who have no formal education but have literacy and numeracy skills. These high returns to cognitive skills indicates the willingness of employer to pay higher wages to the able workers as compared to those who have five or less years of schooling but do not have these skills. Now we examine the effect of technical training and quality of schooling on earnings, first in separate equations and then in a single equation. The impact of technical training on earnings is examined by including years of apprenticeship as continuous variable in our model. The results are reported in column 1 of table 3. The results show a positive and significant impact of technical 15 There are 48 wage earners in our sample who have education less than primary but do not have any of these skill. Whereas we found 76 wage earners who do not have any formal education but have at least one of these skills. 16 This result is consistent with van der Gaag and Vijierberg (1989). 16 Table 3 Earning Functions : Impact of Technical Training and School Quality (Separate Functions) Variables Constant EDU EXP EXP2 Urban Male Balochistan NWFP Punjab Train.

An Epic Search in Their Eyes Were Watching God :: Their Eyes Were Watching God Essays

An Epic Search in Their Eyes Were Watching God In the novel, Their Eyes Were Watching God, Zora Neale Hurston shows how the lives of American women changed in the early 20th century. Zora Neale Hurston creates a character in her own likeness in her masterpiece, Their Eyes Were Watching God. By presenting Janie's search for identity, from her childbirth with Nanny to the death of Tea Cake, Hurston shows what a free southern black women might have experienced in the early decades of the century. To the racial ties that would affect Janie all the way through this life long search. Janie's search for identity actually started long before she was born. Because Janie's search is her family's search. Nanny and Janie's mom gave Janie a reason to search. They were always held back by their owners, and their owners took advantage of them, and raped them. They raped them of their identity. Nanny signifies to evade the realities of her life and the life of Janie. When Nanny says, "Thank yuh, Massa Jesus," she is illustrating that although she is no longer a slave, the slave consciousness has caused her to view even her relationship with the deity about slave and master. This makes Janie the leader of her family's search. However Nanny realized this, and when she saw that Janie was old enough for love she had her married. This guaranteed that Janie would not continue a loss of identity. Even as a young girl, living in the materialistic world of her Nanny and her first husband, Logan Killicks, Janie chooses to listen to "the words of the trees and the wind" (23-24). This is the first evidence of her searching beyond her boring life. This then leads to her everyday life left empty, because she is always looking farther than where she is at the time. So day by day she gets more worked up into leaving Logan, and searching for love. When she leaves Logan to run off with Joe, she thinks to herself, "Her old thoughts were going to come in handy now, but new words would have to be made and said to fit them" (31). Joe aims to be a big voice and that is why he comes to Eatonville, Florida. He feels that he will have a better chance at being a big voice in an all black town than in a white man's town. The problem is that he has adopted white man's values and forces them upon the townspeople and, most notably, upon

Predatory Men in William Faulkner’s Novel, Sanctuary Essay -- Faulkner

Predatory Men in William Faulkner’s Novel, Sanctuary William Faulkner’s novel, Sanctuary, is replete with subtlety and symbolism. En route to Old Frenchman’s Place, Temple Drake thinks of baseball players in the Saturday game she is missing as â€Å"crouching, uttering short, yelping cries like marsh-fowl disturbed by an alligator, not certain of where the danger is, motionless, poised† (37). In creating such an image of predation, Faulkner prepares the reader for Temple’s arrival at Old Frenchman’s Place —the prey/predator metaphor lending itself perfectly to Temple’s situation vis-à  -vis the men there. Throughout the novel, Faulkner portrays Temple as feline or animal-like. When she objects to Gowan Stevens driving to Lee Goodwin’s in search of alcohol, he tells her, â€Å"Don’t get your back up, now† (37); and she is constantly springing from place to place and clawing at doors or blankets, as if she were an agile and jumpy cat. When Goodwin finds her crouching in the corner of his kitchen he lifts her â€Å"by the scruff of the neck, like a kitten† (52), and Popeye similarly grips her b...

Micro Economics Fiori Pasta

1. Meet the Fiori family and its Fiori Pasta Company. Papa Don is the president, son Tony is vice-president of sales, and daughter Gina is vice-president of production. Fiori Pasta produces high-quality pasta products. It has estimated its demand curve for its pasta to be P=39. 898-0. 03757Q, This demand function has been given in terms of price. So to find the Total Revenue (TR) you need to multiply the above equation into Q (which is your quantity). TR=39. 898Q-0. 03757Q2 MR=39. 898-0. 0751Q where Q represents thousands of cartons (each containing five dozen packets of pasta) demanded per year by its wholesale customers.Its cost of producing this spaghetti has been estimated to be: TC = 2,500 + 12Q + 0. 01538Q2, where TC is measured in thousands of dollars. Fiori is having a management meeting to reconsider its pricing strategy. Its current price for the spaghetti is $27. 50 per carton. Since the current price is given we can estimate the current quantity to be 330 ,000 units. Don wants to maximize sales volume subject to earning a target profit of $500,000 per year. Tony wants to maximize sales revenue since his bonus payment varies directly with sales revenues.Gina wants to maximize profits so that the company can afford to install the latest high-tech manufacturing equipment. You have been hired to give an impartial analysis of pricing strategy for Fiori Pasta under the assumption that you will pursue a single price policy. a) As the consultant for Fiori Pasta, what price policy would maximize profits? b) What price policy will be chosen Tony Fiori? c) What price policy will Don Fiori choose? (Hint: plot the TR, TC, and Profit Function). Prepare your report for presentation at the Fiori management meeting and make your case for one particular price policy. For Revenue Maximization- Toni’s IdeaMR=0 MR=39. 898-0. 0751Q=0 When you solve for this you get the revenue sales maximizing quantity as Q=531,000 at a price of $19. 9 (this can be achieved by sub stituting the quantity of 531 into the demand equation given) Though in this method we are actually making losses as the price is low and the quantity isn’t enough to make up for the lost margin. Profit Maximization: Gina’s preference MR=MC MC= 12+0. 0308Q MR= Given above When you equate them to eachother you get the following profit maximizing quantity of 263,437 cartons at these are to be sold at a rice of $30 (you get this price by substituting the profit maximizing quantity into the emand equation given at the beginning) Quantity maximizing to achieve a profit 500,000 – Don’s preference Profit= Total Revenue- Total cost =39. 898Q-0. 03757Q2-2500-12Q-0. 01538 =52. 95Q2+27889Q-300,000 On solving this quadratic equation (which is basically a function on excel, she doesn’t expect anyone to actually solve it, though there is an equation ) You get two quantities= 376 and 151 So for the quantity of 376 we have a price of $25. 75 and $34. 24. I will ex plain this better later today. Hope it helps.

Comparing Schindlers List to the Real Holocaust essays

Comparing Schindlers List to the Real Holocaust essays There have been many documentaries and dramatic productions focusing on the Holocaust. The film, Schindlers List is one of the most serious, accurate, and compelling nondocumentary accounts so far. With the vision of unforgettable images, this movie shows the anguish and endless struggle the massacred Jews suffered. This film explores the many sides of humanity during one of the most terrifying times in recent history. Some people, however, may respond negatively to the fact that there may be some historical inaccuracies, or maybe a lack of focus on the real issues, but no film can ever capture the full torment, or the whole sequence of a six-year war. I feel this movie gives an efficient description of what the Holocaust was merely all about. It frankly describes the senseless murder of innocence Jews. Schindlers List clarifies and depicts three major stories. One is the true tale of the Holocaust, displaying new representations of bad memories. These images of the Jewish ghettos presented may or may not be accurate, but they certainly looked creditable. Everything from the people, the streets, and the clothing they wore all gave me an overall impression of gloom and despair, an exact detail of what was taken place at the time of the Holocaust. The second story given was that of Oskar Schindler himself. At the start of the film Schindler is no more than a self-centered capitalist who sees the advantage of employing Jews because they work for lower wages. Later, we get some impression that his perspective changes, and he risks losing everything to save as many lives as he can. The third story lies on the Nazi commander of Krakow, Amon Goeth, a man who is on the full brink of madness. As written in many documentaries, Goeth could easily have become an immoral monster, but in this m ovie he shows unexpected intensity and confusion in his character. Particularly, in the tense scene with ...

Ethics and Deception in Psychological Research Essays

Ethics and Deception in Psychological Research Essays Ethics and Deception in Psychological Research Paper Ethics and Deception in Psychological Research Paper When conducting research studies many code of ethics come into play. A researcher has an obligation to follow the code of ethics. Many ethical standards must be followed when dealing with research. When conducting research as well as gathering data there are several ways to do so. Depending on whom you ask some ways are considered ethical and appropriate and some are unethical and inappropriate. Using deception to obtain information is a debatable issue on whether it is ethical or unethical by obtaining data in such a manner. The following paper will define what ethics is along with, discussing the concept of risk/benefit ratio, describing exactly what deception in research is, as well as evaluating the impact deception in research has on psychological research. Deception occurs whenever participants are not completely informed of procedures and goals of the research. According to Wikipedia, ethics is a branch of philosophy which seeks to address questions about mortality, how moral values should be determined, how a moral outcome can be achieved in a specific situation, how moral capacity or a moral agency develops and what its nature is, and what moral values people actually abide by (Wikipedia). Ethics deals greatly with morals. What is considered to be morally wrong depends on the individual you are speaking with. Morals describe how individuals should act and the principles that reflect what is good for individuals. Another factor that is used to determine ethical standards is the risk/benefit ratio. The risk/benefit ratio is a subjective evaluation of the risk to a research participant relative to the benefit both individual and the society of the results of the proposed research. (Shaghnessy, Zechmeister, Zechmeister, 2009) The Institutional Review Boards (IRB) reviews all psychological research in order to protect the rights and welfare of the individuals participating in the research studies (Shaughnessy, Zechmeister, Zechmeister, 2009). In order for research to be approved benefits must outweigh the risks. The IRB will not approve research where the risks outweigh the benefits. There are several potential risks that one may run across in psychological research and these risks need to be observed to find out whether or not it will harm the participants of the study. Each individual will not be the same, what may be a risk for one participant may not be a risk for the other participants. The types of injuries may vary from those that are physical, social, or mental (Shaughnessy, Zechmeister, Zechmeister, 2009). No matter how small a risk may be, researchers should try to minimize the risks and protect each individual. When there happens to be a potential risk, researchers need to use informed consent procedures for all participants involved (Shaughnessy, Zechmeister, Zechmeister, 2009). Informed consent is a legal condition whereby a person can be said to have given consent based upon a clear appreciation and understanding of the facts, implications and future consequences of an action. In order to give informed consent, the individual concerned must have adequate reasoning faculties and be in possession of all relevant facts at the time consent is given. Impairments to reasoning and judgment which would make it impossible for someone to give informed consent include such factors as severe mental retardation, severe mental illness, intoxication, severe sleep deprivation, Alzheimers disease, or being in a coma. (http://psychology. wikia. com/wiki/Informed_consent). Researchers are ethically obligated to describe the research procedures clearly, identify any potential risks that might influence individuals willingness to participate, and answer any questions participants have regarding the research (Shaughnessy, Zechmeister, Zechmeister, 2009). There are several ways to gather data and information on a research or study. One way is to use deception or misrepresent oneself in research. In a classic study known as the Miligram Obedience Study of 1961, Stanley Miligram recruited 40men using a newspaper ad. In exchange for their participation, each person was paid $4. 50. Milgram developed an intimidating shock generator, with shock levels starting at 30 volts and increasing in 15-volt increments all the way up to 450 volts. The many switches were labeled with terms including slight shock, moderate shock and danger: severe shock. The final two switches were labeled simply with an ominous XXX. Each participant took the role of a teacher who would then deliver a shock to the student every time an incorrect answer was produced. While the participant believed that he was delivering real shocks to the student, the student was actually a confederate in the experiment who was simply pretending to be shocked. As the experiment progressed, the participant would hear the learner plead to be released or even complain about a heart condition. Once the 300-volt level had been reached, the learner banged on the wall and demanded to be released. Beyond this point, the learner became completely silent and refused to answer any more questions. The experimenter then instructed the participant to treat this silence as an incorrect response and deliver a further shock. ( http:// psychology. about. com/od/history of psychology/a/milligram. htm). Miligram wouldnt have come to the conclusions he did if he didnt misrepresent himself to the participants. If Miligram told the 40 men what he was doing the participants probably would not have cooperated with him. Deception and misrepresenting oneself for psychological research is very controversial and has a huge impact on research today. Deception has caused a great deal of harm to subjects all around the world, due to this informed consent has been put into place. The subjects are not aware of the real reasons of the study due to misrepresentation. When its all said and done, ethics is a big issue in conducting studies and research. Researchers are held accountable while conducting these studies and the have an obligation to follow the code of ethics during them. I personally feel that any type of deception should be labeled as unethical and should not be used. Furthermore, there are individuals that feel it is okay to use deception as long as it doesnt cause any harm to the individuals. Ethics is a large part of conducting research and every researcher needs to conduct himself in an ethical manner.

Dedicated To My Friend Essays - Free Essays, Term Papers

Dedicated To My Friend Essays - Free Essays, Term Papers Dedicated To My Friend i must leave you for a short while please do not grieve and shed wild tears and hug your sorrow to you through the years but start out bravely with a gallant smile and for my sake and in my name live on and do all things the same never,never be afriad to die for i am waiting for you in the sky Bibliography 12th grade student

Electronic Medical Record Article Example | Topics and Well Written Essays - 250 words

Electronic Medical Record - Article Example (Himmelstein, Wright, & Woolhandler, 2009; Hoffman, 2009) Without proper standardized treatment of the electronic material, particularly print outs, which are produced by the EMR software systems such as NextGen, implementation of this technology appears to be highly complex and even unrealistic to some extent. Certain experts and clinicians have identified some key challenges with EMR. Many clinicians criticize that EMR set the limits of the scope of interaction/dialog between doctor and patient. The system of inducting readymade templates and hectic custom template making processes time and again prove to be insufficient for recording the different types of patients’ complaints. Moreover, if there are no standard set rules for at least the basic construct of an EMR system, state-wise adaptability within the American federal system will be hampered since programmers will not be able to decide which templates and feedback mechanisms must be changed from one state to another (Greenhalgh et al, 2009). Hence, the international bodies s uch as EU are trying to implement standards to the EMR systems so that the hard copies of patient records can be used for legal and insurance purposes as well. Without preset and uniform standards, goals such as establishing national level networks of healthcare services and systems cannot be achieved (Hoffman, 2009). â€Å"In a move to streamline medical records, Medicare officials have detailed plans to standardize medical files so they can be stored and delivered in comprehensive electronic files. Announced by the Centers for Medicare & Medicaid Services (CMS), the proposed standards are aimed at helping release $19 billion in federal stimulus funds. The standards are expected to be developed over a period of several months.† Hence, the delay and difference of opinions regarding EMR implementation cannot be solved without uniformity of at least the presentation tools related to an EMR software program. Next, if

Crony Capitalism and Political Corruption are the worst forms of White Research Paper

Crony Capitalism and Political Corruption are the worst forms of White Collar Crime - Research Paper Example The arrangement of crony capitalism has increasingly been influencing the legislative and regulatory actions of governments throughout the world. On the other hand, the aspect of political corruption has been imposing serious threat on the integrity of the national democracy. The concept of political corruption can be defined as abuse of public power or right for illegitimately, usually for gaining secret and private benefits. The practice of political corruption often varies depending upon the country and its jurisdiction. Both the concept of crony capitalism and political corruption are associated with white color crime and their practice in various forms has rendered adverse impacts on socio-economic environment of a country. Thesis Statement In the present day context, the role of government and its influence on socio-economic activities have immensely augmented. It has been recognized that crony capitalism and political corruption in the modern day context present worst forms of white collar crime committed by political persons and business organizations. In relation to this, the paper intends to identify the impact of crony capitalism and political corruption on the socio-economic environment of a country and develops arguments favoring the notion that crony capitalism and political corruption are the worst forms of white collar crimes witnessed by the world today. Crony Capitalism and the Case of Solyndra Crony capitalism in general is a way of caricaturizing the relations between the two or more parties in two different spheres in a capitalist economy. The first subject related with crony capitalism may include economy or the market. The economy or the market areas may involve the operations of businessmen who own and manage business organizations engaged in a variety of activities with a prime goal of making profit. The other subject area includes the public authority or the state through which public rules, regulations, policies and laws are made and enforced (Allen 129-139). Contextually, the case of Solyndra that has been witnessed by the United States in the recent times provides evidence about how crony capitalism is being practiced in the country. California based Solyndra, a solar panel manufacturer declared bankruptcy in August 2011 after having received US$528 million as federal loan guarantees. Moreover, its bankruptcy rendered more than 1000 people jobless. It was been observed that the loan guarantee was allowed in 2009 following the pressure from the company itself and the White House. A report issued by House of Energy and Commerce committee argued that the sinking of Obama led government’s US$528 million investment was the result of involvement of Obama Administration Officials and certain key Solyndra players. It has been further argued that despite the risks associated with funding of loan to Solyndra, the federal government did not resist in approving loan guarantee to the company rather it has been invol ved in backing the company in raising the loan guarantee. The political and government involvement in such scams is one of the worst examples of Obama led Administration’

Repealing National Prohibition in the USA Term Paper

Repealing National Prohibition in the USA - Term Paper Example However, this was not the first time that alcohol was under prohibition in America. The state of Maine was the first state in America to prohibit alcohol; this was far back in the 1850s3. The law made it illegal to possess, manufacture, distribute, consume, advertise, give, or remove alcohol or alcohol-based recipes from a residence or business premise4. The main group that facilitated the implementation of the prohibition was the Anti Saloon League (ASL), a powerful organization that had the support of a majority of the members of the Congress5. People who formulated the law thought that the law would help in reducing the vices in the society, which were associated with alcohol; however, the law elicited widespread debate on the subject. Among the people who were actively involved in the debate were the women who formed two opposing groups. One of the groups, women Christian Temperance Union (WCTU), advocated for the prohibition whereas another group, the Women Organization for Nati onal Prohibition Repeal (WONPR), was against the prohibition6. The main reason that led to the formation of organizations, which were against the prohibition, was that prohibition had led to a significant increase in crime. In addition, prohibition turned people who were previously law-abiding citizens to become criminals7. In addition, prohibition threatened to lead to the moral disintegration of the American society as the people who were supposed to enforce the law were under implication several times in corruption scandals8. Apart from the effects, the prohibition had on the crime rates it also negatively affected several sectors of the economy, which used to provide the livelihoods of millions of America either directly or indirectly. One of the sectors under great impact was the wine industry9. Therefore, for the successful implementation, the government should have first tries to build a consensus and evaluate the effects of the prohibition instead of forcing it down on peopl e10. Annotated Bibliography Behr, Edward. Prohibition: thirteen years that changed America. NY: Arcade Publishing, Inc. 1996. The book offers a comprehensive study of the prohibition of alcohol. It tries to devise reasons that may have brought about certain people to advocate for prohibition strongly. Throughout the book, the author uses temperance to explain why a certain group of people, notably, the Anti-Saloon League (ASL), successfully used temperance to show why alcohol should confront prohibition. In the book, the author tries to analyze the propaganda spread by the ASL to impose fines on certain alcohol manufacturers. The ASL sometimes played the racial cards and tried to capture the American’s hatred towards the Germans to help in the advancement of its goals of imposing prohibition. The author develops the story by showing how â€Å"the good creature of God,† (referring to alcohol) has been an integral part of America. The author even states that the founding president of America, George Washington used to spend huge sums of money on alcohol. By considering these various prominent parties, which were involved and affected, the author is able to paint a more vivid picture of this era.

Is it right to suggest that Strategies are not worth the Paper they Essay

Is it right to suggest that Strategies are not worth the Paper they are Written On - Essay Example 7 – 8). Strategy innovation that challenges the existing models is the only way for new companies to succeed in the face of competition and enormous resource disadvantages. Without investigating how best to create money, it is unlikely that wealth creation will occur and growth may not necessarily the best way to go for all firms. Although managers may feel that delivering quality at the right price will deliver the desired results, it will be important for them to know how best to do this (Hamel, 1998, Pp. 7 – 8). Even if the competitive environment is changing rapidly, it still makes sense to try to understand the trends to decide how best to take advantage of these. Thus, although a need may exist to reinvent the practice of strategy, it will be wrong to suggest that strategy itself is worthless because deciding about how to achieve an end cannot be useless. Mintzberg (1987, Pp. 25 – 30) suggests that organisations need to set their direction and focus if they are to succeed and even though this idea emerged more than twenty years ago, it is still right today. It is likely that if the grand strategy for an organisation is correct, the performance will be superior compared to the case when no strategy is prepared and performance depends on chance. Although a focus on strategy may blind an organisation to the need for properly managing its operations, without a strategy it will be difficult to have properly focused operations. Strategy presents a focus, which results in a coordination of organisational activity in an attempt to achieve the optimal. Strategy encourages an organisation to appropriately acquire, organise and utilise resources. In addition, strategy... It should be obvious from the discussion presented in the essay that despite the fact that rapid change now presents greater demands on strategy formulation, it will be wrong to suggest that strategies are not worth the paper. However, because information is now readily available, collaboration is far more rapid and the business environment is global with global markets and customers shaping demand, strategy needs leadership, an emphasis on superior processes for formulation, an attention to detail and rigor, participation, inputs from trends and patterns, inputs from organisational learning and experience, optimal implementation and well-considered execution. Without an approach that emphasises the craft in strategy formulation, flawed strategy can present disasters for organisations. Now, strategy is a continuous and never-ending process rather than a one-off plan.

The Influence of Macroeconomic Developments on Determination of Dissertation

The Influence of Macroeconomic Developments on Determination of Commodity Prices - Dissertation Example Data collection has been based on survey questionnaire with 15 questions exposed to 50 participants who had sufficient knowledge in this field. Data were collected on a Likert scale and statistical analyses have been performed. All the analyses have been implemented with SPSS. Correlation and Regression has been performed to find the research outcome. Based on the regression analysis, it has been found that macroeconomic factors like economic growth, market speculations, macroeconomic news, consumer instalment credits, trade deficits, variation in demand side, variation in supply side all HIGHLY influence the commodity pricing. Also, based on the correlation analysis, it can be seen that the sharp increase in commodity exports of developing countries during the 1980s debt crises affect the commodity prices. Table of Contents Chapter 1 – Research Introduction 1.1 Introduction 1.2 Background of the Study 1.3 Statement of the Problem 1.4 Research Questions, Aim and Objectives 1.4 .1 Research Aim and Objectives 1.4.1.1 General Objective 1.4.1.2 Specific Objectives 1.5 Research Design 1.6 Structure of the research 1.7. Chapter Summary Chapter 2 – Literature Review 2.1. Introduction 2.2. Theoretical and Analytical Review 2.3. Macro-economic events 2.4. Supply side of commodities 2.5. Fluctuations in Commodity wealth 2.6. Demand side of commodities 2.7. Chapter summary Chapter 3 – Methodology of Research 3.1. Introduction 3.2. Survey Research Methods 3.3. Characteristics of Quantitative survey methods 3.4. Research Framework 3.5. Chapter summary Chapter 4 – Research Data Collection 4.1. Introduction 4.2. Sample Selection 4.3. Survey Questionnaire 4.4. Data Collection and interpretation 4.5. Chapter summary Chapter 5 – Research Data Analysis 5.1. Introduction 5.2. Significance of Statistical Regression and Correlation 5.3. Overview of SPSS 5.4. Data Analysis 5.5. Chapter summary Chapter 6 – Discussion of Results 6.1. Introductio n 6.2. Outcome of regression analysis 6.3. Outcome of Correlation analysis 6.4. Research Outcome 6.5. Chapter summary Chapter 7 – Research Conclusion References Appendix F distribution for 95% confidence interval List of Tables Table 4.1. Sample Likert scale Table 5.1. Model Summary Table 5.2. ANOVA Table 5.3. Correlations Chapter 1 – Research Introduction 1.7 Introduction Questions related to the determination of prices for oil, other mineral, and agricultural commodities have always fallen predominantly in the province of microeconomics. According to Frankel and Rose (RBA, 2009), there are cases where commodity prices move towards the same direction making it difficult to ignore the influence of macroeconomics. Borensztein and Reinhart (1994) confirm the central role of commodity markets especially with respect to transmittal of global disturbances through the linkage they (commodity markets) provide between importers and suppliers of commodities. However, the experi enced fluctuations in both prices and volumes within the

Is it right to suggest that Strategies are not worth the Paper they Essay

Is it right to suggest that Strategies are not worth the Paper they are Written On - Essay Example 7 – 8). Strategy innovation that challenges the existing models is the only way for new companies to succeed in the face of competition and enormous resource disadvantages. Without investigating how best to create money, it is unlikely that wealth creation will occur and growth may not necessarily the best way to go for all firms. Although managers may feel that delivering quality at the right price will deliver the desired results, it will be important for them to know how best to do this (Hamel, 1998, Pp. 7 – 8). Even if the competitive environment is changing rapidly, it still makes sense to try to understand the trends to decide how best to take advantage of these. Thus, although a need may exist to reinvent the practice of strategy, it will be wrong to suggest that strategy itself is worthless because deciding about how to achieve an end cannot be useless. Mintzberg (1987, Pp. 25 – 30) suggests that organisations need to set their direction and focus if they are to succeed and even though this idea emerged more than twenty years ago, it is still right today. It is likely that if the grand strategy for an organisation is correct, the performance will be superior compared to the case when no strategy is prepared and performance depends on chance. Although a focus on strategy may blind an organisation to the need for properly managing its operations, without a strategy it will be difficult to have properly focused operations. Strategy presents a focus, which results in a coordination of organisational activity in an attempt to achieve the optimal. Strategy encourages an organisation to appropriately acquire, organise and utilise resources. In addition, strategy... It should be obvious from the discussion presented in the essay that despite the fact that rapid change now presents greater demands on strategy formulation, it will be wrong to suggest that strategies are not worth the paper. However, because information is now readily available, collaboration is far more rapid and the business environment is global with global markets and customers shaping demand, strategy needs leadership, an emphasis on superior processes for formulation, an attention to detail and rigor, participation, inputs from trends and patterns, inputs from organisational learning and experience, optimal implementation and well-considered execution. Without an approach that emphasises the craft in strategy formulation, flawed strategy can present disasters for organisations. Now, strategy is a continuous and never-ending process rather than a one-off plan.

Demand and Elasticity in Health Care Assignment

Demand and Elasticity in Health Care - Assignment Example Complementary goods or services on the other hand possess lower price elasticity. The meaning of price elasticity of demand is that the demand elasticity for any product (healthcare goods and services) which makes up higher proportions of income also remains generally optimal due to the increase in the price of the commodity which curtails further consumption expenditures on other products. Given that the elasticity of demand refers to a measure of responsiveness that consumers exhibit towards a given product demand as a result of adjustments in the price of these commodities, it must also be true that price elasticity of demand for healthcare services must coincide with health status. This means that health status becomes useful when studying price elasticity of demand. By looking at price elasticity of demand in light of health status, one is able to focus on absolute magnitude of changes, instead of the relative ones. One of the reasons why price elasticity of demand and health status relate is because healthcare is only valued to the extent it betters health. Likewise, it is an obvious fact that the demand for healthcare heavily depends on income, education, health status and age. Despite the demand for healthcare being ultrasensitive to income and prices, the value of price elasticities have values that range from 0 to -1. Likewise, the degree of utilization of healthcare services is shown to be not only tied to income, but also to be very good at the individual level of response (Dewar, 2010). Giving respect to the relationship between price elasticity of demand for health care and health status on the other hand helps in making comparisons on different demand responses across different individuals, countries and products. It is most probable that increase in educational attainment in the community will increase the demand for healthcare services.

Pricing Strategy and Channel Distribution Essay Example for Free

Pricing Strategy and Channel Distribution Essay Pricing Strategy and Channel Distribution Senior Concierge Services Kelly Spino Strayer University Dr. Robert Badowski Abstract Determine and discuss a pricing strategy (penetration or skimming). Determine and discuss pricing tactics (product line pricing, value pricing, differential pricing, or competing against private brands) to be used for your product. Identify any legal and ethical issues related to the pricing tactics. Prepare a marketing distribution channel analysis identifying the wholesaler, distributor, and retailer relationships. Discuss how the distribution strategy fits the product/service, target market, and overall marketing objectives for the company. As a service business, Senior Concierge Service will offer non medical care and maintenance for senior citizens and their families. This type of service business does not have many competitors, and pricing is consistent among the senior care industry. The pricing strategy for Senior Concierge Service will be to stay within the normal range for its services. Consumers will choose Senior Concierge Service over the competition not by cost, but by the quality of services offered. Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, and then the price is lowered over time. This is a version of price discrimination. Price skimming allows a business to recover its resources quickly before a competitor moves in and lowers their prices, lowering the market price. The objective of a price skimming strategy is to capture the consumer surplus. There are several potential problems with this strategy. It is effective only when a business is facing an inelastic demand curve (demand that is not very sensitive to a change in price). Skimming encourages the entry of competitors. Penetration pricing is a more suitable strategy in this case. This strategy is a pricing technique of setting a relatively low initial entry price, often lower than the market price, to attract new customers. This strategy works on the probability that customers will switch to the new business because of the lower price. Penetration pricing is most commonly associated with a marketing objective of increasing market hare or sales volume, rather than to make profit in the short term. This can take the competition by surprise, not giving them time to react. It can also create goodwill among the early customer segment. This can create more trade through word of mouth. Ethical thinking is responding to situations that deal with principles concerning human behavior in respect to the appropriateness and inappropriate ness of certain communication and to the decency and indecency of the intention and results of such actions (distinctions between right and wrong). Marketers are ethically responsible for what is marketed and the image that a product portrays. Marketers need to understand what good ethics are and how to incorporate good ethics in various marketing campaigns to better reach a targeted audience and to gain trust from customers. (Wikipedia. com) Unethical or controversial marketing strategies include: bait and switch, pyramid scheme, planned obsolescence, lock-in/ loyalty schemes, viral marketing, and, monopolies/oligopolies. In retail sales, a bait and switch is a form of fraud in which the party putting forth the fraud lures in customers by advertising a product or service at an unprofitably low price, and then reveals to potential customers that the advertised good is not available but that a substitute is. A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, without any product or service being delivered. Pyramid schemes are a form of fraud. The scheme collapses when no more people are willing to join the pyramid Planned obsolescence is the process of a product becoming obsolete or non-functional after a certain period or amount of use in a way that is planned or designed by the manufacturer. The purpose of planned obsolescence is to hide the real cost per use from the consumer, and charge a higher price than they would otherwise be willing to pay, or would be unwilling to spend all at once. For industries, planned obsolescence stimulates demand by encouraging purchasers to buy sooner if they still want a functioning product. In business, vendor lock-in or customer lock-in, makes a customer dependent on a vendor for products and services, unable to use another vendor without substantial switching costs. Lock-in costs which create barriers to market entry may result in antitrust action against a monopoly. Loyalty programs include frequent flier miles or points systems associated with credit card offers that can be used only with the original company, creating a perceived loss or cost when switching to a competitor. Most programs are able to get consumers to spend more money just to get to free or bonus item. Viral marketing and viral advertising refer to marketing techniques that use pre-existing social networks to produce increases in brand awareness. It can be word-of-mouth delivered or enhanced by the network effects of the Internet. Monopolies and oligopolies often use anti-competitive practices, which can have a negative impact on the economy. This is why company mergers are often examined closely by government regulators to avoid reducing competition in an industry. Since this business caters to seniors and their families, it is especially important for Senior Concierge Services to represent quality, value and confidence in its services and staff. The success of this company depends on compassionate, trustworthy, conscientious, and ethical care givers providing non-medical in-home care. A different take on the loyalty program would allow customers to receive a discount after x amount of service visits or when prepaying for multiple services. A marketing distribution channel analysis is a means used to transfer merchandise from the manufacturer to the end user. An intermediary in the channel is called a middleman. Channels normally range from two-level channels without intermediaries to five-level channels with three intermediaries. Intermediaries in the channel of distribution are used to facilitate the delivery of the merchandise as well as to transfer title, payments, and information about the merchandise. Distribution describes all the logistics involved in delivering a companys products or services to the right place, at the right time, for the lowest cost. For many products and services, their manufacturers or providers use multiple channels of distribution. Well-chosen channels constitute a significant competitive advantage, while poorly conceived or chosen channels can doom even a superior product or service to failure in the market. Distribution channels may not be restricted to physical products alone. They may be just as important for moving a service from producer to consumer in certain sectors, since both direct and indirect channels may be used. There have also been some innovations in the distribution of services, such as an increase in franchising and in rental services. There has also been some indication hat service integration can benefit many providers. Senior Concierge Services will look to link with other service providers to create a mutually beneficial arrangement. Medical providers, beauticians, landscapers and general contractors would all be a good fit with the services offered. A distribution strategy defines how a business is going to create and satisfy demand for its products; how a business is going to move produ cts from point of creation to points of consumption, in a cost-effective manner; as well as defining how a business is going to manage its brand. Todays customers shop and buy very differently than ever before. Access to high-quality information, via the internet, combined with their heightened price sensitivity, has created customers that are more sophisticated, better informed and often times, more demanding than customers of the past. A distribution strategy must be in sync with how the customers of Senior Concierge Service want to shop for services. Franchising is an option worth considering. For a fee, a small business owner can take advantage of the marketing research completed at the corporate level.

Job satisfaction and employer employee relations

Job satisfaction and employer employee relations Job satisfaction is an integral component of organization environment and important element in management -employee relationship. It is the important subject for the success of business in other words, effect directly or indirectly to the company and customers. Job satisfaction is directly related with improving of company and efficiency of employee. Are the employees happy with his/her present job? This is the main question whose answer has great significance in professional life. If they are happy with their job then there is no problem in company and their daily life. If they were not happy with their job, thats the main problem. And how to solve that problem? What are the causes of job dissatisfaction? Job satisfaction plays main role in defining the employee efficiency and productivity. According to Moorhead and Griffin (2010 p.69) Job satisfaction is the extent to which a person is gratified or fulfilled by his or her work. McDonalds is the worlds biggest chain of the fast food restaurant, it serves food nearly 47 million customers daily through more than 31000 restaurants in 119 countries. McDonalds sells different types of fast food like burger, fries, salad and soft drinks. Mc Donald is being popular because of serving food to customers within a minute, served over the counters, products are standard, customers are really attractive because of low price, cleaned place higher standard, hygienic and consistent food quality, comfortable restaurant environment, quality service and it focused on all level of customers those people who have less purchasing power. Most of the customers are really satisfied with the service of McDonald there was no negative response from the customer. It is true customers are really satisfied but the question comes out to employee who serves to customer. Are the employees of McDonald is satisfied with their job? In which environment they are working? Are there minimum level of facilities are provided by company in the work place? This is very important on the working time. Because of bad working environment sometimes employee says bad words. A word of mouth can do a lot of harm to an organization; this is the causes of employee job dissatisfaction. Employee learning and job satisfaction are two assets that could be tracked on the part of the value creation net.( B. Throsten ,2006). The whole fast food restaurant business depends on the employee to achieve this goal: Hence an employee is one of the key element in fast food restaurant ( wang, 2004). Problem of statement In todays context McDonald has been popular day by day in the fast food restaurant name. According to McDonald website the employee of McDonalds are fully satisfied with their job and customers also. But there is high employee turnover ratio. If the old employees are really satisfied why they leaved their job? And why new employees are attract in McDonald? Are the environment of McDonald is really good? What factors directly influence in the staff turnover and absenteeism on organization? The organizational environment is significance related to the employee job satisfaction but same little affects on employee job performance. Organization that have goals to achieve requires satisfied and happy staff.(ashagbemi,2000). When the employees see that his expectations are not met in the job environment, the job dissatisfaction emerges. It leads to decrease in work efficiency, organization commitment and commitment to the job increase in the rate of optional dissatisfaction of the job.(Sant happaraj, Srini and ling 2005; Payne and Morrision,2002;Redfern,2005;denizer,2008;Gellatly 2005and Sagie,2002) The relation between job satisfaction and organizational climate and arrested that people were the heart of any enterprises because their ideas, attitudes and effort key causes of organization success (Rice.C,1982). Individual in the organization have certain expectation and fulfilment of these depends upon their perception whether organizational climate suits according to their needs or not.( Butt, Bhutto and Abbes,2011). In the fast food restaurant, employees job satisfaction directly affect on the quality of food service, which means the effect on customer satisfaction when the employees are satisfied they works hard and try to give best service for customer.(ling Qin,2004) According to Dunn (2008) The chains annual employee turnover at 700000-or nearly 44% of the companys 1.6 million employees worldwide. A high employee-turnover rate has been perennial problem for the fast food restaurant. Which grows to 130% (john.s, 2007) Organizations managers must know how to manage the workers in organisation but the human nature is difference. So, their thinking depends on their nature and their demand will be difference which cannot refer by company which effect on employee satisfaction. Job satisfaction directly related with the organizational environments like job performance of employee, employee motivation, and customers satisfaction. The factors which effects on job satisfaction is wages, promotion, supervision, facilities etc. Aim of Research To identify the factors, which improve the satisfaction level of employee? To predict the value of job satisfaction and objectives workplace variables such as absenteeism, employee turnover and productivity. To ensure what happens when the employee dissatisfaction? Objectives of Research To identify the factors which are most likely to influence job satisfaction on McDonalds To assess the job satisfaction level on McDonald. To know employee satisfaction towards the facilities. To offer valuable suggestion to improve the satisfaction level of employee. To ensure what happens when the employee dissatisfaction? To evaluate critically relevant theoretical research into job satisfaction. To gain the knowledge of job characteristics and variance model of job satisfaction. To explore what is known of the relation between job satisfaction and other variables such as gender, age, personality.. Why employee job satisfaction is compulsory? And Gaining the knowledge of relation between job and general life satisfaction. To analyze the causes of satisfaction and dissatisfaction among employees in nature of their work and area of dissatisfaction. To identify the practices of motivation among employees and their job satisfaction in industry and the   individual measures for better motivational practices to encourage employees. Conclude the  suggestions on the basis of the research finding. Conclude the  suggestions on the basis of the research finding. Significance of study Improving the relationship between the employee and the organizational climate at work time. Improving the employee efficiency to qualitative and quantities product. Try to understand employees felling and respect their job which effort to organization. Key Issues to be considered Structure of industry Work environment management Employee Involvement Pay system Job  secure Relation between employer-employee and among partners Recognition for good work  and work environment Development and  Career opportunity Literature review Job satisfaction us the feeling of happy by the worker what he/she worked. An attitude which results from a balancing and summation of many specific likes and dislikes experienced in connection with the job. It is the employees judgement of how well the job on the whole satisfying his various needs. Job satisfaction focus on all feeling that an individual has about his/ her job. However what makes a job satisfaction or dissatisfaction does not depends only on the job, but also on the expectations that that individuals have of what their jobs should provide.(Lu, while Bariball, 2004). According to Oxford Dictionary job satisfaction is an application of effort to a purpose, force in action, doing of something a task for materials to be operated on doing as experiences of specified kind employment especially as a means of earning money, a thing done or made, a product or manifestation. .Robbins, Odendaal and Roodt (2003) state there have been to approaches to the study of job satisfaction the global approach and the fact approach. The global approach explains job satisfaction as a single, overall feelings towards a job while the facet approach suggests that there are different facets or different aspects of jobs such as rewards (pay or funds benefits) other people on the job (supervisor) job conditions, communication, security, promotion opportunities, and the nature of the work itself. Lockes (1976) says job satisfaction depends upon the nature of a persons values and needs as well as upon the nature of job. Is this approach really matched for all employment? It is believed that the job facet approach permits a more complete picture of job satisfaction and an individual naturally has different levels of satisfaction with view to the various facets. I think this approach is not equivalent for all types of employees. FW Taylor. (1911) job satisfaction based on a most pragmatic essentially pessimistic philosophy that man is motivation by money alone. Taylor is the father of the management he focus the job satisfied fulfilled by money which is the most essential for whole life. S.K Srivastav (2005) suggested job satisfaction is general attitude which is the result of many specific attitudes in three areas-(a) specific job factor. (b) Individual characteristics (c) group relationship outside the job. And Pestoyee (1991) states job satisfaction can be taken as a summation of employees feelings in four important areas. (a) job nature of work, (b) management (c) social relations (d) personal adjustment. OECD research (2000) investigated job satisfaction of employee depends on the employee status, gender and hours, the self-employed tend to indicate grater satisfaction with their jobs then employees. There are some salient differences in the pattern of job satisfaction by gender. Male employees to be likely to report interesting job satisfaction with lengthening hours of work. While female employees does not. Man and women own account workers the pattern difference in both case the peak satisfaction occurs in job of around 40hr has week. Both authors are in same way but Pestoyee added about the management which is the most important part of the organizational climate. The entire environment depends on management level. So, if higher level manager want the can do everything for employees satisfaction I am argue with this report all the employees want to sufficient wages for expenses in their daily life.non of the employees are satisfied if they have not sufficient money to use in daily life. This is the cause of weekly 40hrs work. Job satisfaction is a collection of numerous attitudes towards various aspects of the job and represents a general attitude, performance of specific task, such as preparing a particular monthly report cant necessary be predicted a particular monthly report cant necessary be predicted on the basis of general attitude. (S.W. John, 2007) Job satisfaction is important for many reasons. Because satisfaction represents an outcome of the work experience, high level of dissatisfaction helps to identity organization problem that need attention. Job satisfaction helps to strongly linked to absenteeism turnover and physical and mental health problems. Job satisfaction refers to the attitude and feelings people have about their work positive and favourable attitudes towards the job indicate job satisfaction. Negative and unfavourable attitudes towards the job indicate job dissatisfaction. (A.Michael, 2006). As same Dunnette, Campbell Hakel, (1967) said that both intrinsic and extrinsic factor appeared to be associated with both job satisfaction job dissatisfaction depending on what was important to the individual. In this case everyone is trying to getting positive attitude and likes to show higher performance for promotion. If the level of job satisfaction is affected by intrinsic and extrinsic motivating factors. The quality of supervision, social relationships with the work group and the degree to which individuals succeed or fail in their work. Litwin and stringr (1968) developed the general measure of organizational climate is the organizational Climate quaternaries (OCQ) the studies have investigation the characteristic of the OCQ (e.g. factor structure) and the relationship of the OCQ to other organisational behaviour constructs. putti and bhun (1988) investigated the relationship between the OCQ and job description index as well. They also concluded that job satisfaction is highly correlated with organizational climate. Organizational climate and the job satisfaction are really linked together. For the employee satisfaction better environment is compulsory but it does not means to hi-fi.it means appropriate which depends on work. Job satisfaction related with personal characteristic employees value and job expectation, ability to attend, situation attendance and pressure to attend.( Steers Rhodeds ,1978). Numerous studies have shown that dissatisfied employees are more likely to quit their jobs or be absent than satisfied employee (Hackett and guion, 1985: hulin, ruznowski, and hacliya, 1985 kohler and mathiu, 1993) job satisfaction shows correlation with turnover and absenteeism in the-25range job dissatisfaction also appears to be related to other withdrawal behaviour including lateness, unionizations grievances drug abuse and decision to retire. The employees who are satisfied with their jobs they want to stay long time in an organization and dissatisfied employee try to be turnover and like to absenteeism. The state job security is the one of most important things for job satisfaction. Social life is more challenging for every employee. So they want to more benefits from organization. Like high payment. Opportunities to use kills and abilities and feeling sat in the work environment. (Kathy ,2010)

Essay --

Econ 157 Health Economics Aram Cherkezyan Analytical Policy Write-Up Assignment 1 Affordable Health Care (ACA) In last few decades Health care sector many times helped to drag the economy from recession. However in last two years health care spending grew more slowly than the economy, and most probably it will repeat this year. Ongoing debates during last week continued about the pros and cons of Affordable Care Act and whether it will help the economy or not. Affordable Health Care plays a huge and a very important role in current US economy and particularly on employment, that is why I decided to focus my writing on Affected Health care and its consequences on US labor economy. The opponents of Affordable Care Act (ACA) claim that the Act will significantly worsen an economic condition in the country. However, in this write-up I’m going to focus on the advantages of Affordable Health Care and write only positive aspects of it. Congressional Budget Office (CBO) presents six ways that the ACA is helping the labor market, laying the foundation for future economic growth, and improving families’ financial security and well-being. I am going to provide an explanation for the most important points. First of all, preventing the growth of health care costs will decrease unemployment in near future. Currently United States has an unprecedented slowdown in the growth of healthcare (the lowest growth in the history during last three years), thus it will reduce the insurance premium costs for employers. Furthermore, employers will be able to hire more workers as soon as health care premium costs going to be smaller. Slower growth in health care costs reduces the growth of the health insurance premiums paid by employers, which has i... ...ty. Fifth and last point is the reduction in the long-term deficit and the foundation for future growth. ACA will reduce the deficit by about $10o billion and the ACA’s deficit-reducing effects will increase over time. CBO guesses that over the next two decades, the ACA will reduce the deficit by an average of 0.5 percent of GDP each year, thus reducing approximately $1.6 between 2022 and 2032. The decrease in long-term deficit will increase national savings, reducing foreign borrowing thus increasing national income. These factors will improve standards of living in the future. Relaying on these five major points I believe that Affordable Healthcare Act may shave a positive effect on US economy, improve health condition of low-income families, increase demand for goods and services, reduce foreign borrowing and decrease an unemployment rate in the United States. Essay -- Econ 157 Health Economics Aram Cherkezyan Analytical Policy Write-Up Assignment 1 Affordable Health Care (ACA) In last few decades Health care sector many times helped to drag the economy from recession. However in last two years health care spending grew more slowly than the economy, and most probably it will repeat this year. Ongoing debates during last week continued about the pros and cons of Affordable Care Act and whether it will help the economy or not. Affordable Health Care plays a huge and a very important role in current US economy and particularly on employment, that is why I decided to focus my writing on Affected Health care and its consequences on US labor economy. The opponents of Affordable Care Act (ACA) claim that the Act will significantly worsen an economic condition in the country. However, in this write-up I’m going to focus on the advantages of Affordable Health Care and write only positive aspects of it. Congressional Budget Office (CBO) presents six ways that the ACA is helping the labor market, laying the foundation for future economic growth, and improving families’ financial security and well-being. I am going to provide an explanation for the most important points. First of all, preventing the growth of health care costs will decrease unemployment in near future. Currently United States has an unprecedented slowdown in the growth of healthcare (the lowest growth in the history during last three years), thus it will reduce the insurance premium costs for employers. Furthermore, employers will be able to hire more workers as soon as health care premium costs going to be smaller. Slower growth in health care costs reduces the growth of the health insurance premiums paid by employers, which has i... ...ty. Fifth and last point is the reduction in the long-term deficit and the foundation for future growth. ACA will reduce the deficit by about $10o billion and the ACA’s deficit-reducing effects will increase over time. CBO guesses that over the next two decades, the ACA will reduce the deficit by an average of 0.5 percent of GDP each year, thus reducing approximately $1.6 between 2022 and 2032. The decrease in long-term deficit will increase national savings, reducing foreign borrowing thus increasing national income. These factors will improve standards of living in the future. Relaying on these five major points I believe that Affordable Healthcare Act may shave a positive effect on US economy, improve health condition of low-income families, increase demand for goods and services, reduce foreign borrowing and decrease an unemployment rate in the United States.

Shakespeares Problem Plays :: William Shakespeare Poems Literature Essays

Shakespeare's Problem Plays I suggest that a label for the causes of these feelings [of uneasiness and uncertainty of interpretation] might be the tragi-comic view of man: a view which splits the world today, and gives us the "totalitarian" attitude versus the end product of a European tradition which was chivalric and Christian. I mean by this any or all of the following, or any combination of these distinguishable attitudes. 1. A refusal or failure wholly to credit the dignity of man, and the significance that that gives the individual in tragedy. 2. An emphasis (comic, derisive, satiric) on human shortcoming, even when man is engaged in great affairs. 3. Any trend towards suggesting that there is usually another side to all human affairs, and that the "other side" to the serious, dignified, noble, famous and so forth, is comic. This implies a scepticism of man's worth, importance and value; and may range from the quizzical through the ironical to the cynical. 4. Any trend in the direction of expressing unhappiness, disappointment, resentfulness or bitterness about human life, by inverting these feelings and presenting the causes of them as matter for laughter or jest.... 5. A corresponding attitude towards traditionally funny subjects which insinuates that in some way they are serious, or that the stock response to them bypasses pain at human shortcomings or wickedness; or that this stock response depends on a lack of sympathy or insight which an author can make us aware of without abolishing the comic situation. * * * They [the problem plays] have another important themes or terms in common, and all have some echo or parallel in Hamlet. 1. They share a common evaluation of conventionally accepted "nobilities": noble heroes in Troilus and Cressida (and the nobility of courtly love); Authority in ermine in Measure for Measure; a gentleman of family in All's Well. All are deflated; and with the deflations there runs concurrently the critical devaluation of man at large. 2. Interpolated into the critical analytical patterns we find "ideal" figures who check our prattle of "cynicism," "satire" or "misanthropy": Greek and Trojan chivalrically fraternizing; Hector, Uysses in his degree speech, perhaps; the Duke in his quasi regal moments; the Isabella who talks Christian charity so moving.... All are as if inset or montage figures, so that in their context they appear out of phase; .