Macroeconomic Stabilisation Theory and Policy Essay

Macroeconomic Stabilisation Theory and Policy - Essay Example † A labour market is generally a market where the services of labour factors of production exchange hands. From a macroeconomics’ point of view, it is a very critical factor that impacts on the overall markets of factors of production. In line with the same definition, it should be noted that in the short-run wages remain rigid and this is among other predicaments in the same short-run. In the short-run, therefore, equilibrium remains an illusion. Over-employment and under-employment remain the order of the day in the short-run. (econguru.com, 2008) Castles, in his book, states that aggregate supply of labour is usually a function of the trade-off between leisure and income. It involves the effects of substitution and the income offsetting. (Castles, 1998 p198) On the other hand aggregate demand of labour happens where there is measurement of employment levels and it serves as a rate of growth determinant with wages and inflationary impacts on wage levels in the spotligh t. (O’Hara, 2001 p511) These two functions of any given labour market are the major aspects of this market clearing topic. They are going to be considered in detail further on in the study. The expression â€Å"Market clearing† refers to that process through which markets move to a scenario where the quantity of demand is equal to that of supply. This means that the forces of the economy ensure that supply and demand are at par. This process of achieving a market clearing position usually involves various adjustments in the market up to the point of getting a price of market clearing. This concept of market clearing is highly related to that of equilibrium in the market. (Black, et al, 2009 p282) Issues of a labour market may be with the inclusion of wages, rates of participation as well as unemployment. A typical labour market, thus, provides a systematic structure that creates an environment of employers’ and workers’ interaction with regards to the con ditions of work, jobs and pay. The outcomes of a given labour market are dependent upon the processes as well as institutions of the overall bargaining besides the part played by unions of trade and organisations of employers. (eurofound.europa.cu, 2011) An equilibrium in a market of labour may be the putting together of demand for labour and labour supply. In such a case the price, with labour in focus, is the wage equivalent to a given labour level and the demanded quantity of labour is the amount of labour-hours that are employed. Labour demand is the output price multiplied by the extra labour productivity in output units. Equilibrium, therefore, occurs where the demand and supply curves intersect. Figure 1; shows the demand and supply of labour in a given industrial case. Note: D is demand for labour S is supply for labour W is real wage levels Wage S W D Labour hours D,S One can look at a given labour market where there is a law of minimum wage. The most essential factor here is to make an analysis of the effects of the law of minimum wage. Minimum wage (W1) is set above the wage at equilibrium level. The resultant effect is that of employers’ demand as well as hire (N1) labour-hours, which is lower than would be the amount of labour hours that are hired at the point of equilibrium wage. The other outcome is an excess supply of labour as seen in the

Public health and the law Assignment Example | Topics and Well Written Essays - 500 words

Public health and the law - Assignment Example The National Traffic and Motor Vehicle Safety Act is a constitutional law that permits the federal government to create and supervise new safety standards for vehicles and road traffic safety (RRBC, 2008). The statute was meant to respond to the escalating number of cars and the resultant demises and injuries from accidents. The Highway Safety Act is a constitutional law that was passed to permit the federal government to set standards for motor vehicles and highways. This policy would reduce highway accidents and the associated fatalities significantly. The National Highway Traffic Safety Administration is a legislative law that was created under the Highway Safety Act. The act outlined various approaches of preventing fatalities related to the operation of motor vehicles (RRBC, 2008). The act designed a campaign to prevent injuries inflicted on the public members by motor vehicles. The administrative law demands that all commercial drivers must possess a CDL. It considers serious commercial vehicle violations like exceeding speed limits and the main vehicle violations such as driving under the influence of alcohol (WTAO, 2009). These laws ratified by the legislature necessitate the covers on motor vehicle against accidents and the relevant liabilities connected to the incidence of the insured peril. This ensures prompt treatment of passengers, pedestrians and rehabilitation of the vehicle. These laws, the National Traffic and Motor Vehicle Safety Act, the Highway Safety Act, and the National Highway Traffic Safety Administration enabled several changes in the planning of motor vehicles and the highways (WTAO, 2009). The laws defined the relationship between the human, the motor vehicle and the highway to reduce the possibilities of crashing. The new safety features were included in vehicles such as rests, energy-absorbing steering wheels, shatter-resistant windshields and safety belts (WTAO, 2009). The situations of the roads were upgraded by

The Relationship Between Institutions and Economic Development Essay

The Relationship Between Institutions and Economic Development - Essay Example Neoclassical growth theory limits to identify the prerequisites of economic performance, such as capital accumulation and technical progress. To explain why people save, invest, learn and seek knowledge, different institutional systems and values that success or failures are based on must be paid special attention. The relationship between institutions and economic growth has been a central debate of the economic arena for a long time. A century ago, the free society realized that the institutional system plays a fundamental role in economic development-no longer seen as an inevitable gradual transition from local autarky to specialization and division of labor. The establishment and the functioning of institutions reflect the transition from chaos to order by the creation and enforcement of rules or procedures guiding economic and social life. Thus, the institutional system ensures the normal course of real and nominal economy. However, only efficient institutions are growth-promoti ng (Milo, 2007, p.23). There is a vast empirical literature that studies the impact of institutions on economic performance, particularly on growth (Easterly and Levine (2003), Acemoglu et al. (2001), Fukuyama (2006)). From the reverse connection perspective, the first hypothesis stating that economic growth enhances the good functioning of institutions is associated with the name of Martin Lipset, who argued that increased income and human capital accumulation are the best ways to have effective institutions. The second hypothesis states that limited central authorities and therefore, good institutions, lead to superior economic performance. This point of view is also included in the works of Montesquieu and Adam Smith and, later, in those of the ambassadors of neo-institutionalism (Buchanan, Coase, North, and Williamson). In short, the basic idea of institutionalism is that institutions create the rules of economic game; the latter provide economic incentives and thus influence th e behavior of economic agents. Competition, productivity, innovation and private firms develop in an institutional environment that fosters efficient behaviors and penalizes inefficiency. If economic performance is unsatisfactory, ultimately, institutions will be changed. Reformulated, economic and social changes are institutional changes. One of the most important issues that influence the analyses of linkages between institutions and economic development is that there is no general consensus on the definition of institutions. Chang (2005) highlights three key functions of institution in fostering economic performance: Coordination and administration; Learning and innovation; Income redistribution and social cohesion. In some Asian economies in transition from socialism to capitalism, the rapid progress of free market institutions has reduced the transaction costs. In other situations, they have remained high as a result of insufficient knowledge of market mechanisms, of ambiguous rules and bureaucracy, weak legal system and corruption. Stable political structures, well-defined and recognized property rights and legal enforcement of contracts have reduced transaction costs, explaining the success of the world’s most powerful economies. Transaction cost theory was used in the analysis of general interest issues such as the role and governance practices, definition of market institutions or in explaining the differences between economic performances of nations. Related to the last element mentioned, the theory developed in close connection with the role of institutions in fostering economic efficiency by reducing trading costs. North concluded that capitalist and democratic institutions (free market, state, justice) are the result of efforts to minimize transaction costs (North 1991,

Cloning in Animals and Humans Essay Example | Topics and Well Written Essays - 750 words - 1

Cloning in Animals and Humans - Essay Example It was an achievement for the scientists but a question of ethics and morals for other groups. This clone was considered to be a path of initiation towards the formation of human clones as well (Pence 2004, p 17). Thus, the subject of cloning of humans and animals has been a center of arguments and debates. The cloning of Dolly in the year 1995 became a matter of concern for many groups. The President of the United States, Bill Clinton did not approve of cloning and issued a statement that the government would not invest in this field of cloning. The National Bioethics Advisory Commission put forward a report in the year 1997 in which it strongly prohibited the research for the formation of human clones. Feminist groups argued against this technique and presented the fact that it would be used by people to promote the domination of the society by males. Hence the subject became a matter of global concern (Kass et al 1998 p XV-XVI). Though there was the initiation of many debates by different groups, the success of animal cloning continued and since the year 1998, different animal clones were produced. These included clones of calves, mice, pigs and goats. A goat was cloned in Japan and it was claimed that the goat would be able to generate milk in a much greater quantity. The cloning of mice was also considered to be a success owing to the fact that they are used very often for the process of conducting medical research activities. These breakthroughs of cloning in animals carried great benefits. Japan cloned cattle which would assist in the production of a greater amount of milk and this would fulfill the shortcomings of this industry in the country. Hence animal cloning carried with it major benefits (Pence 2004, p 17-19). In the United States, the utilization of meat and milk from the cloned animals was prohibited as much research on their safety was considered essential before it was permitted for consumpt ion.

Social Relations Essay Example | Topics and Well Written Essays - 750 words

Social Relations - Essay Example Many people tend to be aggressive for one reason or another. The result of one's character is highly characterized by roles one plays, and mutual interactions of motivation and the motion which lies at the heart of autonomy adaptation and social interaction in both biological and artificial agents (Kenny D, 1994). They also have a powerful and wide range in influence on many aspects of cognition and action even though one's role is often considered complimentary. This is concerned by external and internal factors involved in the establishment of one's behaviour where emotion is the core determiner of behaviour among the critical factors (Kenny D, 1994). Within societies, an individual learns not only on his own but also through interaction with other people surrounding him/her. This brings about the issue of social intelligence an essential tool in communication through conservations (Brown J, 1991). Social aggregation has a strong genetic basis where it is mainly as a result of environmental influences (Brown J, 1991). Specifically, teachers and peers indicate an extent to which a participating child exhibits social aggressive behaviors, such as trying to make others hate one another or the degree of influence to make others like one another, or saying bad things and spreading nasty rumours (Brown J, 1991). Empirical evidence for an effect of workplace psychological control on an individual is sometimes not visible but studies have shown that negative parenting behaviours such as lack of responsiveness and coercion are linked to one's ego (Perloff R, 2003). People who have socially aggressive friends tend to be aggressive themselves (Perloff R, 2003). This contributes to much social stratification where people tend to group themselves in terms of character and behaviour. This makes them share a habit in common. For workers today, the stress associated with trying to blend the responsibilities of paid work with responsibilities of family and personal life has become an increasingly visible issue (Perloff R, 2003). This is because more and more workers continue reporting on how their lives have become frenzy as they struggle with the unrelenting demands of work and personality (Perloff R, 2003). The significance of being free of bias brings about independence freedom of thought and democracy, where one is not intimidated (Kenny D, 1994). It creates integrative minds, where a person acts without being told, and thinks that he is right (Kenny D, 1994). There is an increasing demand for those who practice initiative because the reward is two fold, one it helps one improve his financial status and also develops strength in his/her personal attributes. In conclusion, social psychology principles plays a critical component in enabling individuals interact, as well as personal relationship. It creates the spirit of mutual interrelationship between people whereby, the participants share information, therefore enhancing clear understanding of our surroundings. Reference Brown, J. David. (1991). "Preprofessional Socialization and Identity Transformation: The Case of the Professional Experience". Journal of Contemporary Ethnography Perloff, R. M. (2003).

Conflict in a case study about conflict intervention in somalia Essay

Conflict in a case study about conflict intervention in somalia from1992 to 2010 - Essay Example Addressing these issues would also mean the promotion of broad objectives like the U.S. foreign policy to ensure regional stability in the whole of Africa in terms of trade and investments, supporting human rights and democracy and removing situation and circumstances which provides protected havens for the international terrorists and drug traffickers. The anarchy that followed the collapse of Somalia as a nation state in 1991 fathered large-scale migration of populations; the nation was facing economic chaos and the incidences of mass violence. The persistence of these problems triggered political dangers as groups emerged whose main aim was to initiate war and empower leaders. (Ohaegbulam, 2004, p. 65) Root cause of the conflict During the late 1980s the coalition of the three clans- the Marreexaan, Ogaadeen and the Dhulbahante – popularly known as the â€Å"MOD† under the leadership of President Maxamad Siyaad Barre was a declaration of war against the Isxaaqs of th e previous British colony in the Northwest which was organized into the Somali National Movement- the SNM. He also organized the Majeerteens in the northeast as the Somali Salvation Democratic front, the SSDF and the Hawiyas to Mogadishu’s direct west and south, which was organized as the United Somali Congress, known as the USC. ... The SNM were angry about the fact that their army could not make it to Mogadishu- the major land holdings of the Isxaaqs before the armies of the USC. The SNM were reluctant of returning home in the north but they had to, so while returning they created a rump state. In the meantime the USC’s military leader Maxamad Faarax Aideed from the Habar Gidir subclan challenged Mahdi’s right to the presidency. Hence these all resulted in the inter-clan war in 1991 to gain a control over Somalia. Beside this an inter clan war also took place to have a control over Mogadishu. The absence of the central government placed the country at a disadvantage, as there was nobody to negotiate on the behalf of the state and both the Somali population and the international relief workers were vulnerable to attack. (Lahneman, 2004, p. 31; Webersik, 2004, p. 518; Somalia Civil War, n.d; The civil war in Somalia, n. d) The Social Economic and Political crisis After the collapse of the Somali sta te in January 1991 the country faced disorganization in their education and learning system, which was an impact of the division of the clan in the country. In the process of the social breakdown the schools, technical education centers and the university faced the worst consequences. The infrastructures of the institutes were destroyed. The major victims of the civil war were the children, as nearly 3000 of them were dying every day in the early days of 1992. (Abdi, 1998, pp. 327-328) The situation at that time had worsened in the South especially in Mogadishu where the instances of well armed youths along with their armed Land Rovers roamed around the city and the roadways plundering and looting masses, extorting

Gathering Research Data Paper Essay Example for Free

Gathering Research Data Paper Essay Within the criminal justice system there are various types of data gathering research methods that can be utilized. The method chosen for this research paper is the email survey method. The proposed research for this paper is job satisfaction within the police field with emphasis on the patrol officers. With patrol officers being the backbone of the police departments the research should be pretty insightful. The main goal of this research is to pinpoint the patrol officers’ main dissatisfactions during their workdays. The specific interview structure that will be used is an email questionnaire survey. This type of survey will allow and hopefully enable every patrol officer to participate and it will also allow graphical results. Just about every criminal justice case begins and ends with a patrol officer. Beginning with the criminal offense report, to the arrest, and ending at the testifying in court. Although there are many various key players in most cases besides the patrol officer, it is highly unlikely that crime reduction would exist without the patrol officer. Understanding the needs of a patrol officer and what is pleasing and displeasing on the job is key to crime reduction. A happy employee does their job successfully and to the best of their ability. An unhappy patrol officer will definitely not complete tasks let alone risk their lives for another individual. The department has the responsibility to ensure that the majority of its patrol officers are satisfied with their working conditions to prevent silent strikes and to also prevent behavior manifestation. Using an email questionnaire survey would be the interview structure used to conduct the research regarding the employee satisfaction. This survey will involve the simple format of a YES or NO option only. Constructing a different variables list will enable determination of what issues the questions will be based on. This list will also ensure that main concerns and topics are covered along with not duplicating any issues. Configuring what type of  data and data analysis is needed will be the next venture followed by figuring out how to word the questionnaire. Taking into consideration patrol officer lingo and technical wording to avoid any biased or compounding variables to each question. Some examples of questions that would be asked are: 1. Do you intentionally avoid police functions when off duty? 2. Do you take a level of pride when wearing your uniform? 3. Do you take sick days when you are not ill? 4. Do you hide your profession when off duty? 5. Do you take extended training courses or classes to avoid fieldwork? 6. Do you use cellphones, tablets, or any other devices to entertain yourself while on duty? 7. Do you avoid public interaction while on duty? Using these initial questions will not only help me gather data on satisfaction but will also help me gather data on other issues as well. An example of other issues would be the topic of whether or not response time intertwines with officer satisfaction and how this affects crime statistics. This type of qualitative data gathering is a great advantage because it records attitudes, feelings, and behaviors. (Analyse This!!! Learning To Analyse Qualitative Data, (2008)). As mentioned also opens up new topic areas that were not initially considered. These initial questions are also structured or closed ended questions in which will involve the needed information. Which means the data collected from the answers won’t involve thorough answers that need to be explained. In completion of the questionnaire questions, a small group of similar respondents will take a pretest that will point out any confusion or misunderstanding of question formatting and wording. To have the best outcome of participants and to ensure the best results, compensation would be offered in the form of extra paid time. This will also ensure a more quantitative data analysis due to a larger number of people responding to the survey. Some researchers believe that rewards and/or incentives given to people who participate in surveys increases response and reliability A tailored design method or TDM will be used with this email survey question. According to Hagan ((2010)), â€Å"The â€Å"tailored design method† or TDM, â€Å"uses multiple contacts seeking response and endorsements to increase response rates† by â€Å"tailoring the survey to the  group being studied in order to foster trust, increase rewards, and decrease the cost of participation.† This phase would be to get endorsed by the patrol unions to ensure and response, respect, and acceptability of the survey in the patrol officer’s eyes. These unions were founded and organized to assist and defend patrol officers, with the backing of these unions the participation and legitimacy would be highly prosperous. In turn, the unions will be knowledgeable with the results of the survey. One of the main focuses of this survey will be that it is truly an anonymous survey, and that each individual who fills out a survey remains anonymous and has no ties or repercussions from their answers. A few approaches to this could be survey kiosks or ballet boxes. These would allow no log on requirements or have any tracks on keystrokes. It is detrimental that informed consent and confidentiality be withheld and not compromised. According to The Role Of Numeracy In Informed Consent For Surveys ((2009)), â€Å"Two key ethical issues for survey researchers are obtaining informed consent and maintaining the confidentiality of responses. Informed consent implies that two requirements have been met: (1) that research participants have been informed about the essential elements of the research, including the risks and benefits of participation, and have understood the information; and (2) that they have given their consent to participate†. If compromised the survey answers could potentially cause issues with employment or job environments. This type of outcome could cause the survey to become unreliable and null and void. References: Analyse This!!! Learning to analyse qualitative data. ((2008)). Retrieved from http://archive.learnhigher.ac.uk/analysethis/main/qualitative1.html Hagan, F. E. ((2010)). Research Methods in Criminal Justice and Criminology (8th ed.).Retrieved from The University of Phoenix eBook Collection database. The Role of Numeracy in Informed Consent for Surveys. ((2009)). Retrieved from http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2857726/