Role of Government in Capitalism Essay Example

Role of Government in Capitalism Paper Free market capitalism is a system of  economics  that minimizes government intervention and maximizes the role of the  market. A free market economy is based on supply and demand with little or no government control. A completely free market is an idealized form of a market economy where buyers and sellers are allowed to transact freely (i. e. buy/sell/trade) based on a mutual agreement on price without state intervention in the form of taxes, subsidies or regulation. Government  regulations, trade barriers, and labor laws are generally thought to distort the market. In practice, no country or jurisdiction has a completely free market. How Much Government is needed in the free capitalism arena? Should we expand our faith in free market capitalism, or do we need government intervention in each and every aspect of business economy? The role of government just considered is to do something that the market cannot do for itself, namely, to determine, arbitrate, and enforce the rules of the game. Railroads, Parks, Highways are an excellent example. A good society requires that its members agree on the general conditions that will govern relations among them. The basic roles of government in a free society is to provide a means whereby we can modify the rules, to mediate differences among us on the meaning of the rules, and to enforce compliance with the rules. According to Adam Smith, self-interest (not selfishness), property rights and division of labor are three important interrelated pillars of economic growth. Some of the market values include the below and the failure can happen if we miss any of the below qualities. * Discipline * Honesty and trustworthiness * Tolerance * Cooperation * Courtesy * Enterprise * Responsibility Market failure occurs due to many reasons. Some of those reasons are: * Monopoly power * When producers do not fully bear total costs of products or are unable to capture all benefits of producing products. * When there is a common property resource. Common property is nobodys property, hence the property is misused. * Lack of information, misinformation or asymmetry of information. * Risk and/or uncertainty * Economic Bubbles * Environmental Pollution. * Exploitation of Workers. * Unsafe and Ineffective Products. * Corporate Fraud and Theft. * Neglect of Public Goods. * Neglect of Social and Public Investments. * Hidden Information. * Inability to Plan. Boom and Bust Cycles. * Lack of Markets. * Poverty and Economic Inequality. * Lack of Opportunity and Economic Mobility. There are a host of other areas where free markets will not work efficiently and promote public welfare without some government intervention. For example, areas of product safety, workplace safety, airwaves allocation, oil and gas exploration. Therefore gov ernment intervention is essential for the working of free and competitive markets. Role of a government in a market economy should: * Provide a legal system to make and enforce laws and to protect private property rights. Provide public goods that individuals or private businesses would not provide. * Correct market failures such as external costs and economic slowdown (unemployment) * Maintain competition by regulating monopolies * Stabilize the economy by reducing unemployment and inflation and promoting economic growth. We can give two great examples where government intervention is needed 2001 dot. com bubble and subprime mortgage crisis. For 2001 . com bubble, government has to step in and put some regulations in the market to curb the crisis. In late 2008 US financial markets seemed near collapse. We will write a custom essay sample on Role of Government in Capitalism specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Role of Government in Capitalism specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Role of Government in Capitalism specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The financial community’s near collapse had been most directly ignited by the subprime mortgage crisis; a situation in which the nation’s housing bubble burst and millions of Americans were no longer able to pay their home mortgages. Lending had essentially frozen. A great name in banking, Lehman Brothers, went bankrupt while Wall Street powers Bear Stearns and Merrill Lynch, facing failure, were sold. One estimate is that the total Federal Reserve aid package, at its peak, reached $3. 3 trillion. Through its Troubled Asset Relief Program (TARP) and other initiatives, the government assisted companies considered â€Å"too big to fail. The government undertook various stimulative measures including tax breaks, bond sales, and direct injections of federal money to prop up the badly faltering economy. In a centerpiece of the stimulus effort, about $800 billion was spent on such projects as road construction, extension of unemployment benefits, help to states in meeting Me dicaid costs, and high-speed rail transportation. National unemployment was in the 10 percent range, and the government decided to use all of its powers to quickly build jobs and otherwise rescue the economy to avert a total crash. Some of the government programs might put the country in more and more debt situation and for example cash for first-time homeowners, cash for clunkers, payroll tax reductions a year at a time, Obama Care, subsidies for electric vehicles, cash for investments in green energy, taxes on medical devices, a Fed that now is not just managing inflation, but also trying to improve the economy through artificially low interest rates over a very long period of time and a major increase in new regulations. All of these interventions have impacts on the costs of products and services, prices of those products and services. Even biggest democratic countries like India are planning to privatize lot of government sectors for example trash, transportation. The government currently ties a noose around the neck of the free market in a multitude of ways. It has rules and regulations, favors to special interest groups, currency debasement by inflating the money supply etc. , All these things disrupt the free market. There is no doubt that government alone cannot make an economy work for the betterment of all its citizens. It does need to partner with a  progressive  private sector to make that happen. Limited government and show the presence wherever needed, makes government the strongest ally in the business world and we can create a better business together. References: http://books. cat-v. org/economics/capitalism-and-freedom/chapter_02 http://highered. mcgraw-hill. com/sites/dl/free/0073525006/928301/McAdams_10e_Chapter_1. pdf http://www. governmentisgood. com/articles. php? aid=13;print=1

chapter 13 essays

chapter 13 essays Ralphs tears of pain and sorrow trickled down his roughed up face, the suns beating rays warmed his body. As Ralph looked up and wiped the tears from his face, he parted his golden hair so he could see the naval officer. In a whimpering voice Ralph said Its been such a long time since weve seen a grown up. Whats your name Sir? Why you can call me Bigsby young lad stated the tall officer With glooming eyes the rest of the boys nodded their heads with agreement. With tears still flowing down his face, Ralph began to hysterically laugh and smile while saying Its over... Its finally over! The naval officer turns around and looks at him with an expression of dull confusion. Whats over? The storm said Ralph in a murmuring voice. Ralph looks around and sees that Jack and Roger are missing. For a moment he thought he saw the trees in the back rustling. Ralph yelled at the top of his lungs. Sam! Eric! While searching over the other boys heads, looking for a sudden movement. As the two boys pop their heads out simultaneously, Ralph grins in delight. The two boys walk closer and closer to Ralph and the naval officer. With every step they take they feel the wet sand sticking between their bare feet. As they stood beside him he felt alive again. Where are Roger and Jack? Uh...uhh... up on Castle rock, by themselves. Sam said softly In the background the boys started to drop their spears and wipe their bodies free of the clay. Than the officers started to rally up the boys so they could take them to the ship to get cleaned up. While the flames still engulfed the Jungle the boys stood still, they started to remember home, their friends, their choir group, and their family. Lets go get them, before they end up on this island b...

Tata Motors Assignment Example | Topics and Well Written Essays - 1000 words

Tata Motors - Assignment Example To respond to the market needs, automotive manufacturers have expanded their range of products through extensive research and development (Ireland, Hokisson & Hitt, 2011). According to the law of demand, when all factors are held constant a good that is highly priced will attract less demand. As such, sales are fewer when the products are highly priced. The automotive market has exploited this law of demand to its advantage (Harrison, 1993). The industry has in the recent past increased capacity to develop and produce affordable cars. Brands such as Tata Motors have invested in research and development to identify ways of cutting costs. Reduction in costs leads to the production of affordable cars and as such creating demand. A, B and C denote points on the demand curve. The points reflect the correlation between the quantities (Q) required and the particular price (P) associated with the  demand. From this it clear that highly priced automotive products have over the years experienced lesser demand. The law of supply demonstrates what quantities of automotive items are to be sold at individual prices. According to this law, a higher price leads to higher supply of automotive products. Tata Motors, like other players in the auto industry, responded to this law by producing more units when the prices are higher so as to increase revenues. Unlike to demand relationship, relationship of supply has a component of time. As such, many players of the automotive have reviewed how their ordering processes are done. Many industry players are allowing for invoicing twice a month as compared to initial practices of invoicing once a month. The follow graph is an illustration of this law: In the automotive industry, equilibrium of demand and supply has been in existence in the recent years. Growth of industry is attributable to the fact that the provision of the automotive matches with the

A Cosi Fan Tutte Opera Theatre Report Research Paper

A Cosi Fan Tutte Opera Theatre Report - Research Paper Example The performances were divided into a series of acts with each act being as intriguing as the next. The first act began with the officer’s confidence in their fiancà ©es faithfulness being challenged by their confidant Alfonso, who is played by Daniel Ewart and Aaron Petrovitch. This act involves the fake departure of the officers, the morning of their lovers and the arrival of the Albanians. It comprises deception by the Albanians, Don Alfonso and the housemaid, Despina who is played by Leah Brzyski and Alina Tamborini. Personally, I found the singing much more captivating than the acting, more so for the first two acts. The harmonics brought the audience in the mood and kept them attentive. The attempts of the gentlemen to seduce their lovers were quite hilarious especially having them pretend to be dying. However, it was a bit disappointing as some of the songs sang did not match the personalities of the characters performing it. It did not make sense how Fiordiligi, her si ster and Alfonso could present such a lovely song as the soldiers went off for war yet there are supposed to be self-centered. As the performance continued into the second and third days, it became less about the music for me but more about seeing what would happen next. The actors did not utilize the stage well during the succeeding acts so the only way to continue with the flow of the story was to listen to the music. This was quite disappointing especially because the first act ended in a lot of suspense.

Should human resource managers only recruit extraverts as leaders Essay

Should human resource managers only recruit extraverts as leaders - Essay Example Business world never expressed friendly attitude towards introverts. However, four out of ten top-managers are introverts. Larry Page, the founder and the head of Google is among them. Moreover, they became successful not because they tried to act against their introversion, but on the contrary, due to it. New investigations show that introverts create more appropriate environment for teamwork, than their sociable colleagues. It is essential to mention that the most successful introverts also can behave like extraverts. The ability to pretend is a very important tool in the leader’s arsenal. Moreover, introverts are usually good supervisors of active initiators. According to Laurie Helgoe , â€Å"introverts are more effective leaders of proactive employees. When you have a creative, energetic work force, an introvert is going to draw out that energy better † (cited in Why Introverts Can Make Great Leaders ) The investigator Francesca Gino also argue that "if youre worki ng in a team that has lots of knowledge, where people are proactive [and] suggesting ideas for improvement, you would do better for the team if you took a backseat position and took the approach of an introvert, who is very careful in listening to suggestions" (Ridgeway, 2010). Secondly, to listen to is sometimes more important than to speak. Sometimes the restrained style of leadership of the founder of Facebook Mark Zuckerberg seemed rather disadvantageous than advantageous. At the beginning of his career Zuckerberg was very shy, even seemed autistic and behaved very awkwardly in public. However, behind the unsuccessful attempts to give interviews there was a man who can listen to perfectly. Extroverts in their turn tend not to listen but to speak that can be harmful for business in some situation. Actually, introverts and extroverts treat communication differently: â€Å"Introverts require some quiet time to recharge at the end of a busy day meeting people. Extroverts get

DNA Extraction From Chicken Liver

DNA Extraction From Chicken Liver Deoxyribonucleic acid (DNA) is the hereditary material in humans and almost all other organisms. Nearly every cell in a persons body has the same DNA. Most DNA is located in the cell nucleus (where it is called nuclear DNA), but a small amount of DNA can also be found in the mitochondria (where it is called mitochondrial DNA or mtDNA). The information in DNA is stored as a code made up of four chemical bases: adenine (A), guanine (G), cytosine (C), and thymine (T). Human DNA consists of about 3 billion bases, and more than 99 percent of those bases are the same in all people. The order, or sequence, of these bases determines the information available for building and maintaining an organism, similar to the way in which letters of the alphabet appear in a certain order to form words and sentences. DNA bases pair up with each other, A with T and C with G, to form units called base pairs. Each base is also attached to a sugar molecule and a phosphate molecule. Together, a base, sugar, and phosphate are called a nucleotide. Nucleotides are arranged in two long strands that form a spiral called a double helix. The structure of the double helix is somewhat like a ladder, with the base pairs forming the ladders rungs and the sugar and phosphate molecules forming the vertical sidepieces of the ladder. An important property of DNA is that it can replicate, or make copies of itself. Each strand of DNA in the double helix can serve as a pattern for duplicating the sequence of bases. This is critical when cells divide because each new cell needs to have an exact copy of the DNA present in the old cell. The extraction of DNA from cells and its purification are of primary importance to the field of biotechnology and forensics. Extraction and purification of DNA are the first steps in the analysis and manipulation of DNA that allow scientists to detect genetic disorders, produce DNA fingerprints of individuals, and even create genetically engineered organisms that can produce beneficial products such as insulin, antibiotics, and hormones.ÂÂ   Once the DNA has been isolated, it is essential to accurately determine its concentration for subsequent manipulation such as cloning or sequence determination. To quantify the amount of DNA that extracted by using spectrophotometry. The aims of this experience is to: To use the properties of DNA to isolate long strands of DNA from liver cells. To determine the yield of DNA isolated from a given amount of tissue. To examine the light absorbing properties of purified DNA. To examne the relationship between the concentration of a DNA solution and the absorbnce at 595nm of DNA-diphenylamine solution. To generate a standrad curve relating DNA concentraton with the absorbance of DNA-diphenylamine solutions. To use a standard curve to determine the concentration of an unknown DNA solution. Materials and Methods As per lab manual. Results Firstly, the chicken liver cell homogenate is treated with a salt solution such as NaCl and a detergent solution containing the compound SDS (sodiumdodecyl sulfate). These solutions break down and emulsify the fat proteins that make up a cell membrane. Finally, ethanol is added because DNA is soluble in water. After adding ethanol a relatively clear aqueous will be produced, the first layer is the milky solution that is the aqueous phase with DNA, the middle layer is the solid (precipitate proteins). The bottom layer is a clear solution (organic). The DNA can be spooled (wound) on a stirring rod and pulled from the solution at this point. The amount of DNA solution we got is 5.4ml.Than we put the DNA solution in 2ml tube (1.041g). The total weight of DNA solution and tube is 1.106g. The amount of DNA we got is 1.106-1.041g = 0.065g. Next we prepare 4 standard tubes by adding TE buffer (ml) to the DNA standard solution (ml). And also added to each of the 3 samples of my DNA. The total DNA (mg) is recorded in the table 1. The observed colour change of 4 standard tube and my 3 samples are recorded in table 2 and 3. We pipette the DNA samples and each standards tubes into separate wells of a 96 well microtitre plate. We measured the absorbance at 595nm of the DNA-diphenylamine solutions using the plate reader. Our results are shown in the graph with the used of the reading of table 4. Form the graph we find that the concentration of undiluted DNA is 0.232=0.46mg/ml. Discussion and Conclusions For this experiment we determinate the yield of the DNA isolate from given amount of tissue is: 1g -> 63mg 0.065g -> 4.095mg (wet weight of the DNA to dry weight) 3ml -> 4.095mg 5.4ml -> 7.371mg (DNA in the entire aqueous phase is collected) 3. 4ml -> 7.371mg 5.3ml -> 9.767mg The final calculation of the dry DNA is 9.767mg/g liver. For the experiment we examine that the light absorbing properties of purified DNA. The wavelength is range 220-300nm. The wavelength of the DNA is 260nm. We also calculated that the yield of DNA per g of liver from Lab 2 is: The amount (mg) of DNA contain => 0.461.5=0.69mg Aqueous from lab 1 = 5.4mg 0.69/2 =0.345mg (0.3455.4)/3 = 0.621mg The final value in mg of dry DNA/g liver is: 0.621mg/g. In the end of the experiments, we managed to complete our objectives. In summary, we learn that the alcohol can causes DNA to precipitate, or settle out of the solution, leaving behind all the cellular components that arent soluble in alcohol. As alcohol is less dense than water, so it floats on top forming two separate layers. We also learn that the advantage of spectrophotometry is that diphenylamine only reacts with DNA more accurate as RNA would not be determined. The disadvantage of spectrophotometry is that it always requires standard solution. The advantage of calculating of yield by its weight is that it does not require standard solution. The disadvantage of calculating of yield by its weight is that it is less accurate as RNA is counted in.

Poverty in Nigeria Essay -- Poverty Essays

Poverty in Nigeria Nigeria is one of the leading oil producing countries in the world. It makes billions of dollars annually, yet the majority of the population lives in poverty. With around 70% of its people living with this problem it is also one of the poorest countries in the world ( Nigeria 's economy dominated by oil ). One of the major contributors to this problem is government. Because the country is well known for its lack of leadership the money made through oil trade is kept by rich benefactors, and the poor are left with nothing. Another major problem that is increasing poverty is Nigeria's population. The amount of people being born is far exceeding the amount of jobs available for them. Due to these two factors the level of poor people living in Nigeria today is staggering. The gap between the rich and the poor is so large that there is almost no inclination of a middle class at all ( Thomas ). If Nigeria wants to get rid of this gap then both the government and the increase in population growth will have to be dealt with. Government is one of the major issues in Nigeria today. Continually corrupted and constantly unstable it accounts for the majority of the problems relating to poverty in the country. With major amounts of money coming in from oil export it would seem logical that the population would see some of the profits, but they don't. Rich benefactors who lead the country take the profits and gain income for themselves. In return they leave costs for improving community life up to the people to deal with. Because of this aid to the public is limited. Health care is non existent, village improvements are unheard of, and the cost for food and other essential materials are increasing. These issues then ... ...r issue that needs to be changed is the population growth in the country. Because of the lack of available jobs, and the amount of people who need work, there are beginning to be conflicts and deaths as a result. Nigeria is a country with mass potential, but nothing is being done to take advantage of it. The country needs many things to establish this gain, but the first step would be a major change in the way the country is ran. If it doesn't change this then the potential that it does have will vanish and the ability to maintain the country will be gone. Citations: Nigeria 's economy dominated by oil . 16 Jan. 2002 . BBC news. 22 Apr. 2005 . Doyle , Mark . Poverty behind Nigeria 's violence . 19 May. 2004. BBC news. 22 Apr. 2005 . Thomas, Saji; Canagarajah ,Sudharshan. Poverty in a wealthy economy: the case of Nigeria . 2002. Eldis. 22 Apr. 2005 . Poverty in Nigeria Essay -- Poverty Essays Poverty in Nigeria Nigeria is one of the leading oil producing countries in the world. It makes billions of dollars annually, yet the majority of the population lives in poverty. With around 70% of its people living with this problem it is also one of the poorest countries in the world ( Nigeria 's economy dominated by oil ). One of the major contributors to this problem is government. Because the country is well known for its lack of leadership the money made through oil trade is kept by rich benefactors, and the poor are left with nothing. Another major problem that is increasing poverty is Nigeria's population. The amount of people being born is far exceeding the amount of jobs available for them. Due to these two factors the level of poor people living in Nigeria today is staggering. The gap between the rich and the poor is so large that there is almost no inclination of a middle class at all ( Thomas ). If Nigeria wants to get rid of this gap then both the government and the increase in population growth will have to be dealt with. Government is one of the major issues in Nigeria today. Continually corrupted and constantly unstable it accounts for the majority of the problems relating to poverty in the country. With major amounts of money coming in from oil export it would seem logical that the population would see some of the profits, but they don't. Rich benefactors who lead the country take the profits and gain income for themselves. In return they leave costs for improving community life up to the people to deal with. Because of this aid to the public is limited. Health care is non existent, village improvements are unheard of, and the cost for food and other essential materials are increasing. These issues then ... ...r issue that needs to be changed is the population growth in the country. Because of the lack of available jobs, and the amount of people who need work, there are beginning to be conflicts and deaths as a result. Nigeria is a country with mass potential, but nothing is being done to take advantage of it. The country needs many things to establish this gain, but the first step would be a major change in the way the country is ran. If it doesn't change this then the potential that it does have will vanish and the ability to maintain the country will be gone. Citations: Nigeria 's economy dominated by oil . 16 Jan. 2002 . BBC news. 22 Apr. 2005 . Doyle , Mark . Poverty behind Nigeria 's violence . 19 May. 2004. BBC news. 22 Apr. 2005 . Thomas, Saji; Canagarajah ,Sudharshan. Poverty in a wealthy economy: the case of Nigeria . 2002. Eldis. 22 Apr. 2005 .