Mills Position on Paternalism essays

Plant's Position on Paternalism expositions John Stuart Mill, by method of his work, On Liberty, questions the degree to which government ought to have the option to meddle with the freedoms of its residents. The essential worry for Mill is the place the state should take a stand, at the individual level, as to its wants to figure out what is best for the resident and therefore society in general. Because of his acknowledgment of the weaknesses of agent majority rules system, the foundation of his Harm Principle, adherence to utilitarianism, and examinations of freedoms of thought and activity, Mill unhesitatingly, and honestly, declares that state paternalism is rarely legitimized. Plant has no hesitations of scrutinizing the very framework that he gives a lot of time in different articles guarding illustrative government. His anxiety is that simply showing up at the framework isn't sufficient and, it follows, thought must be given to the deficiencies of the very framework. One of the essential insufficiencies of such a framework, obviously, is its negligence of the varied piece of the populace which offers ascend to such conditions of weakness like the notorious oppression of the larger part. Factory sensibly calls attention to that in all circumstances wherein a greater part is set up the minority will be subject, all things considered, to out of line laws. Plant thusly builds a system by which, he thinks, all residents, regardless of whether inside the solaces of the larger part or nerves of the minority, will profit. This longing and its all encompassing nature to a great extent emerges out of the Millian see that basically in light of the fact that the ind ividuals administer in a popular government doesn't imply that there ought to be no impediments forced upon the state. The individuals state can not be right. At this end, the naissance of the Harm Principle happens. Factories Harm Principle, in a far reaching style, draws that line of state intercession with the freedoms of the resident. As per Mill, The princi... <!

Process for Implemenation of Supplier Development Strategy Essay Example for Free

Procedure for Implemenation of Supplier Development Strategy Essay Presentation Gracefully chain the executives embraces an orderly and integrative way to deal with deal with the activity and relationship among various gatherings in flexibly chain one of the significant issues is provider advancement contemplates have researched how quality administration can be business in flexibly anchor the executives to impact execution in the entire flexibly arrange. (Mishra Rik, Patel G-Supplier Development Strategies, Data work Analysis Business Intelligence Journal, January 2010 vol 3 No.1) There are 8 phases of execution of provider improvement 2.1 Identify basic products for improvement Administrators must examine their circumstance to decide if Supplier advancement is significant and if so which bought wares and administrations require the most consideration. A corporate level official directing board of trustees must survey the applicable vital significance all things considered and benefits that the organization purchases and produce an arrangement of basic wares 2.2 Identify basic providers for advancement The administrators must survey the presentation of providers who flexibly wares in the â€Å"strategic provider category†. These items considered deliberately significant, as they may be hard to substitute or buy from elective providers. 2.3 Form a cross-useful group A purchaser should initially create inward cross-utilitarian agreement for the activity before moving toward the provisions to request improvement such accord will assist with indicating a â€Å"unified front† and guarantee that all purchaser capacities. 2.4 Meet with supplier’s top supervisory group The buyer’s cross practical item group must approach the supplier’s top administration gathering and build up three keys to provider improvement, key arrangement, provider estimation and polished skill. 5 Identify openings and likelihood for development At these gatherings with the providers official ought to distinguish territories reserved for development. Organizations receiving a key way to deal with flexibly base advancement can for the most part concur upon zones or improvement .In certain territories driven by definite client prerequisites and desires. 2.6 Identify key activities In the wake of recognizing promising chances of provider advancement supervisors must assess them as far as attainability, asset and time prerequisites and potential profit for speculations. The point is to choose what the objectives ought to be and whether they are feasible. 2.7 Define subtleties of the understanding After the potential improvement venture is recognized, the gatherings need to concede to explicit merthies for checking its prosperity. 2.8 Monitor status and alter methodologies Oversees should continually screen the advancement and continually trade data to keep up force in the task. (http://www.ethenmanagementor.com.kuniverser/kmailer_universe/manu_kmailers/som-supplierdev1.htm. Gotten to 15/09/2011) Various sorts Supply Chain connections | |Transactional |Collaborative |Alliance | |relationships | |Communication |High potential for issues |Systematic way to deal with | |enhance correspondence | |Competitive |Low |High | |advantage |Independence | |Connectedness |Little |Interdependence | |Continuous |Few | |improvement | |A center around | |Contributions to | |new item |Low |Many/early provider | |development |Short |involvement | |Reactive |Difficult/high effect | |Difficulty of leave |Price |Long | |Duration | Little or none |Proactive | |Expediting |Low |Total cost | |Focus | |High or all out | |Level of joining |Many |High | |Level of trust |No | |Number of |Incoming assessment | |suppliers |Inward looking |One or few | |Open books | |Yes | |Quality | |Design quality into framework | |Relations | |Concern with each other’s | |Few/low aptitude level |well-being | |Resources |Minimal |Professional | |Service |No |Greatly improved | |Shared gauges |Possible |Yes | |Supply disturbances |No |Unlikely | |Technology inflows |Tactical |Yes | |Type of communication | |Strategic cooperative energy | (Handfield RB; Monczka RM; Giunipero LC; Patterson JL. Sourcing and flexibly chain the board; 2004 pg 123) Portfolio Analysis 4.1 Captive purchaser Hostage purchaser relationship the provider overwhelms the purchaser and the purchaser relies upon the provider. In these specific hostage purchaser connections this reliance of the purchaser is because of the novel protected innovation of the provider. In view of this protected innovation the purchaser has restricted or no Substitutes to go to making a reliance on the provider. Regardless of this reliance an elevated level of trust assumes a significant job in making this relationship productive for the two gatherings. Clearly the predominance of the provider is constrained to the degree that the common trust remains unblemished. Be that as it may, the degree of trust additionally has its cutoff points from the supplier’s viewpoint. The provider isn't happy to confide in the purchaser with its licensed innovation. The conspicuous purpose behind this is the hazard that the provider would lose its commanding position. In this manner, the provider has an extraordinary enthusiasm for keeping up its predominant position. The study and meetings show that for hostage purchaser connections the informative factors were the absence of substitutes, lawful property rights and size of the provider. Evidently the legitimate property privileges of the provider, and the subsequent absence of substitutes, makes the purchaser rely upon the provider. These variables, joined with a provider that is a lot bigger than the purchaser, brings about a relationship that can be depicted as a hostage purchaser circumstance. (http://dspace.learningnetworks.org/bitstream/1820/3545/1/MWBHMJFleurenmei2011.pdf ;Accessed 15/09/2011) 2 Captive Supplier Hostage provider relationship the provider relies upon the purchaser and the purchaser subsequently overwhelms the provider. This unbalance of intensity can have one or a mix of components: the size of the purchaser and its piece of the pie yet in addition the exchanging costs for the provider add to the reliance of the provider on the purchaser. Regardless of the way that the provider has significant protected innovation this isn't adequate to adjust the degree of intensity towards the purchaser. To make this relationship a productive one participation and common objectives are critical. Through these common objectives the purchaser depends on the provider somewhat, subsequently keeping the purchaser from manhandling its strength over the provider. Therefore, in a hostage provider circumstance the purchaser will likewise contribute (vigorously) in the relationship yet not to the degree that it loses it’s commanding position. While considering the hostage provider connections, it became evident that the Explanatory factors were piece of the overall industry, absence of substitutes, legitimate property rights, non-retrievable speculations and the size of the provider. These components brought about a hostage purchaser circumstance. Again the nearness of legitimate property rights, this season of the purchaser, makes the provider have constrained or no substitutes. Besides the relationship included huge non-retrievable ventures for the provider, making it significantly increasingly hard to change to another purchaser. At last, the high piece of the pie of the purchaser contrasted with the little size of the provider was a huge factor. The net aftereffect of these illustrative factors is a hostage provider relationship. (http://dspace.learningnetworks.org/bitstream/1820/3545/1/MWBHMJFleurenmei2011.pdf; Accessed 15/09/2011) 3 Interdependent Supply Chain individuals A beginning stage is required for distinguishing proof of flexibly chains. For example, a final result or the like might be utilized for distinguishing proof and investigation of the movement structure sorted out behind it. This is in accordance with the transvection idea authored by Alderson (1965, p. 92) who characterizes transvections as involving all earlier activity important to deliver this conclusive outcome, going right back to combination assets. This, be that as it may, involves a first significant association among chains as they normally converge in various stages inside an action structure where various pieces of the final result are collected, welded and so forth, integrating various chains progressively (Dubois, 1998). Therefore, a few distinct items (and in this manner a few chains, whenever characterized by items) are associated with each flexibly chain bringing about a finished result. Taking transvections, or finished result related structures, as a beginning stage we will additionally examine the manners by which the exercises an d assets inside flexibly chains are associated by breaking down how they are dependent upon the three types of reliance. (http://www.impgroup.org/transfers/papers/4324.pdf ;got to 15/09/2011) 5. Purchaser/provider relationship (Handfield RB; Monczka RM; Giunipero LC; Patterson JL. Sourcing and gracefully chain the executives; 2004) High Class Level Low End The idea of intensity ought to be at the focal point of any investigation of purchaser provider connections. Force influences the desires for the two gatherings over what business returns should accumulate to them from a relationship. It additionally influences the eagerness of the two gatherings to put resources into community oriented exercises. As significant, it additionally influences the ability of the two gatherings to share the expenses of relationship-explicit speculations .It likewise influences the eagerness of the two gatherings to share touchy data. Subsequently, a comprehension of the force connection which is frequently steady, with the relative soundness should, from the perspective of the buying administrator, illuminate both the provider determination and the relationship the executives choice as the individual in question endeavors to oversee chance proactively. Reference index 1. http://www.impgroup.org/transfers/papers/4320.pdf 2. http://dspace.learningnetworks.org/bitstream/1820/3545/1/MWBHMJFleurenmei2011.pdf. 3. Mishra Rik, Patel G-Supplier Development Strategies, Data work Analysis

Global Issue Disposable Workers

Question: Examine about theGlobal Issuefor Disposable Workers. Answer: Presentation The downturn at worldwide level outcomes in number of conservations in corporate world, and just purpose for this conservation is joblessness which as of now comes to at statures, and those individuals who can spare their occupations are compelled to work at low compensation scales. Different results of this present financial condition are increment in number of impermanent workers or representatives on unforeseen premise. Changes in innovation have extraordinary effect on the choice of the administration in light of the fact that cutting edge innovation decreases the need of HR. Innovation headway is the integral explanation which straightforwardly influences the quantity of jobs by playing out that task which is performed by individual (Potocki Brocato, 1995). According to one study, comparative circumstances are stayed for next 5 to 10 years which bring about little pay rates, more terrible working conditions, and extremely low degree of professional stability. As indicated by Peter Cappelli, who works in the University of Pennsylvanias Wharton School expresses that businesses are attempting to get free from their representatives at all fixed expenses however before they did this by chopping down the advantages accessible to representatives yet not they are legitimately remove the activity of worker. In todays time everything is variable as these corporate moves are make place in view of less benefit. Nonetheless, plainly information gathered from budgetary segment isn't steady on the grounds that very nearly 500 organizations in 2009 accomplish second-biggest situation in profit throughout the entire existence of 56 years. It must be noticed that this accomplishment isn't come about because of high incomes yet it came about as a result o f lessening in labor cost. According to one research, organizations biggest piece of income is reflected from lower payrolls rather than increment in deals and further expressed that during this period less measure of wages is expanded (Magdoff, (2004). The most affected class of laborers is the individuals who have go to their school and get certificate, and furthermore the individuals who read for the degree. There are numerous laborers who saw that their pay breakdown in 2009-2010 (Weston, 2012). According to some market eyewitnesses express that fluctuating nature of benefit is the main explanation of contrast between the corporate productivity and result for laborers. It is clear when enterprise is decided on single premise that is stock cost then officials of the organization attempt their best to expand their numbers on the expense of disregarding different issues like representatives prosperity or morals in corporate culture. On the opposite side there are some different organizations likewise which by and large worried about their workers and attempt to make strategies which treat their representatives deftly. There is one contention which express that it is totally option to forfeit a few employments to spare the total association. In the wake of breaking down all the above realities plainly it become pattern for associations to commence their representatives or denied their work benefits with the end goal of their own productivity or to show increment cost of stock in the market. In the wake of breaking down the real factors obviously laborers have gotten expendable in todays worldwide economy on account of new drifting attitude of administrators which offer significance to monetary advantages and overlook the moral qualities, and one more explanation of conservation of workers are financial perspectives which influence alost number of occupations in the state. References: ANA, (2016). Expendable Workers. Recovered on twentieth Februuary 2016 from: https://www.nytimes.com/2016/04/17/feeling/sunday/expendable workers.html?_r=0. Magdoff, H. Magdoff, F. (2004). Expendable Workers Todays Reserve Army of Labor. Recovered on twentieth Februuary 2016 from: https://www.uvm.edu/~fmagdoff/ReserveArmy.pdf. Weston, C. (2012). Downturn cut extra cash of laborers by up to 17,000 of every one year. Recovered on twentieth Februuary 2016 from: https://www.independent.ie/business/individual fund/most recent news/downturn cut-discretionary cashflow of-laborers by-up-to-17000-in-one-year-26836929.html. Potocki, A. K. Brocato, C. R. (1995). A System of Management for Organizational Improvement. Johns Hopkins Apl Technical Digest, Vol 16 (4).

Best Advice For Incoming Business Majors

Best Advice For Incoming Business Majors by: Jeff Schmitt on June 07, 2017 | 0 Comments Comments 2,753 Views June 7, 2017A business major, you say?Congratulations! Welcome to the club.You can think of us as the big tent. There’s a place for everyone. You’ve got your jocks, honors students, misfits, and revelers. There are pragmatists and dreamers, bluebloods and immigrants, techies and troubleshooters. Heck, it’s hard to slap just one label on us these days. (Just don’t come to class in pinstripes and power heels. Save that for the 80s bash — that’s all we ask.)What’s the best thing about being a business major? You’re never alone! There are more of us than anyone else on campus. Better yet, you come away with a skill set that you can use anywhere. You learn how to run numbers and crunch data. You’re trained to weigh strengths, weaknesses, alternatives, and tradeoffs. Your ability to effectively communicate — listening, connecting, bargaining, and persuading — gives you a leg up on your peers. Let’s face it: There’s no bigger rush than when you control the clicker during a PowerPoint.   Seriously, it’s intoxicating!Of course, a business major is only as valuable as you make it. That’s why the Best Brightest business majors from the Class of 2017 have volunteered some advice for you. Take it or leave it, that’s your call. If you’re serious about squeezing the most out of the next few years, it pays to take the same steps as some of the most accomplished graduates in the land.Nabiha KeshwaniEMBRACE RISK AND BE DIFFERENTWhere do you start? For the graduating class, it begins with embracing risk. For Babson College’s Josuel Plasencia, that meant following his passions, which led him to launch his own company. Cornell University’s Kenneth Sang encourages you to join student organizations and diversify your interests. Echoing he r classmate’s sentiments, Nabiha Keshwani  urges you to take classes that don’t necessarily align with your current interests. â€Å"Have the courage to stray away from your path — you might surprise yourself,† she suggests.Courage, yes †¦ but the Class of 2017 also stresses open-mindedness in stretching boundaries. For Northeastern University’s Jeremy Goldstein, a Forbes 30 Under 30 Scholar, differing internships and co-ops are a means to discover what you’re truly good at doing. Indiana University’s Alejandro Mestre regards ones  business school years as the time to experiment and learn from mistakes. Casting a wide net comes with one other benefit, adds Michigan State’s Kari Jurewicz:  Ã¢â‚¬Å"You never know who you will meet along the way.†It doesn’t stop with exploring something different or being open-minded. The Best Brightest also preach being different. There’s a reason for that, says Bos ton University’s Ellie Landsman, a field hockey star who dreams of working in social impact. â€Å"In business school, students have a tendency to follow a cookie-cutter path in order to land the perfect job,† she observes. â€Å"In my experience, the most successful individuals I have met followed their passions and were not afraid to stray away from the crowd.†Being different also brings a rare sense of purpose and peace of mind, adds the University of Illinois’ Ron Lewis. â€Å"Never believe that someone else’s path within business will make you successful,† he cautions. â€Å"Wherever you go, and whatever major you choose, there is beauty in finding out what you love to do and what you’re passionate about. Take the time to ask yourself why. Why this major? What impact do I want to make? What do I want my legacy to be? If those answers relate to business, then you’re in the right place.†A LONG LIST OF DON’Ts â €” AND ONE IMPORTANT DOJade MulvaneyWhen it comes to majoring in business, the Best Brightest† came up with a series of â€Å"Don’ts† for you to follow. The top one  involved dwelling on pay and placement over purpose. â€Å"Focus on who you want to be at your peak potential, suggests Brigham Young University’s Nick Kerr. â€Å"Then choose a major, extracurricular activities, and internships that will help you get there.†Another big don’t, according to the University of Florida’s Jade Mulvaney, is assuming your major is your destiny. Instead, look at it as  simply a starting point. â€Å"Being a finance major does not mean that investment banking is your only option, or that being an accounting major means you must pursue a career as a CPA,† Mulvaney  says. â€Å"Explore, learn, keep an open mind, and pursue your passion.† That can mean integrating your formal business training with your interests outside scho ol, adds the University of Minnesota’s Raffy Maristela. â€Å"Business is one of the most versatile and widely applicable undergrad degrees and gives a unique and accessible opportunity to combine your interests with a future job. Whether it’s music, the outdoors, or television and films, staying true to your passions will help keep you sane in your undergrad and maybe even help you find a practical job in an industry of your dreams.†Perhaps the biggest don’t, though, is assuming business is a cakewalk compared to a STEM major. That could be a fatal mistake, shares Penn State’s Cameron Stevens, who says  areas like finance and supply chain are  just as technically demanding as physics and engineering. â€Å"The cutting edge of research in many of these topics relies heavily upon advanced mathematics, statistics, and programming ability,† he says. Page 1 of 212 »

The Invasion of Panama Essay - 930 Words

American presidents often establish foreign policies that effect the country’s citizens oversees and in America. The Invasion of Panama was part of the restoration of America’s military prestige, after years of misgivings. The Panama Invasion was the extension of the domestic plans for a Drug-Free America (US II. 33). Lastly, the Invasion of Panama is an example of presidential foreign policies that involve America in foreign affairs. The Panama Invasion was a conflict that was the beginning to better decision-making, but had faults of its own, that followed through to the Persian-Gulf War of 1991. It started with the decision to invade Grenada; President Reagan’s ability to â€Å"react quickly and convincingly to a perceived threat to†¦show more content†¦Within two of Noriega’s residences, â€Å"pictures of Hitler, an extensive pornography collection, $283,000 in cash, Swiss bank account numbers, and a ‘witches diary’† (Ope ration Just Cause Pamphlet) were discovered. On Christmas Eve of 1989, Noriega â€Å"was granted refuge in the home of Papal Nuncio [†¦] until he could gain entry to Cuba† (Operation Just Cause Pamphlet). On December 29 the Archbishop was given permission to visit Noriega’s â€Å"witch house†. Afterwards it was â€Å"recommend to Pope John Paul II that Noriega be turned over to the United States because he committed torture, murder, practiced devil worship and voodoo, and stockpiled weapons to conduct a long-term guerrilla campaign† (Operation Just Cause Pamphlet), Catholic officials finally persuaded Noriega to surrender on January 3. In Florida, â€Å"Noriega was convicted of smuggling cocaine and sentence to forty years imprisonment† (Operation Just Cause Pamphlet) in April 1992. Within American borders, directly before and after the Panama Invasion, President Ronald Reagan started and pushed for a â€Å"Drug-Free America†, initiatin g the â€Å"War on Drugs†. Created in 1973, the Drug Enforcement Administration, or DEA, was facing an uphill battle in its beginning because â€Å"at no time before or since has drug use as socially acceptable as it was during the 1970’s† (Knight). The DEA was stationing itself at borders,Show MoreRelatedAmerica s Recent Diplomatic Initiatives870 Words   |  4 PagesDIPLOMATIC INITIATIVES The United States Invasion of Panama, code-named Operation Just Cause, happened between mid-December 1989 and late-January 1990 (diplomatic initiatives 2016). It occurred during the U.S. President George Bush s term, and ten years after the Torrijos–Carter Treaties were ratified. The treaties transferred the control of the Panama Canal from the United States over to Panama by January 1, 2000 (diplomatic initiatives. 2016). During the invasion, the Panamanian leader, and dictatorRead MoreOperation Just Cause- Panama951 Words   |  4 PagesOperation Just Cause was not the capture of a man; it was the genocide of a country On December 20 of 1989, 26,000 U.S. troops invaded Panama in ‘‘Operation Just Cause’’ to expel and capture the countrys strong man, the former general Manuel Antonio Noriega and destroy his military. No honest Panamanian, no human being can be indifferent to the horror of war, one can justify the thousands of dead innocent civilians. ‘‘Forget Prohibited’’ as many Panamanians says for this day, the worlds mostRead MoreSummary Of The By Lauren Wolfe927 Words   |  4 Pagesthat it happened it was â€Å"difficult to say that to my mother.† (Wolfe) This is just one example of the calamitous effects of American-sponsored regime change operations. Driven by American exceptionalism, America believed that it’s involvement and invasion in other countries would be beneficial to American security. The United States embraced regime change because it pushed for American government to influence the entire world. President bush asserted that American government is â€Å"right and true forRead MoreThe People And Culture Of Panama1077 Words   |  5 PagesPeople and Culture of Panama Panama is vibrant nation, full of culture, beautiful landscapes and beaches, a vast military history pertaining to the U.S., along with world changing technological advances. Even though it is pretty up to date communication and technology wise, it still sticks to its native roots. Panamanians are quick to tell you what they love about their country. Whether it’s the climate, the culture, or the outdoors, national pride runs deep in Panama. Many Panamanians feelRead More Panama History and Culture Essay1377 Words   |  6 PagesPanama History and Culture The culture and political structures of Panama as we know it today has evolved from an incredibly diverse and interesting history. Geographically, Panama lies on an isthmus, a strip of land that essentially connects the greater landmasses of North and South America. It is believed that volcanic activity in the late Pliocene era closed the former Central American Seaway that had separated the two continents. The climatic implications of this landformRead MoreA Historian Must Combine the Rigor of a Scientist with the Imaginatio1614 Words   |  7 Pageshistorians can not agree on the way events really took place. The invasion of Panama is an example of this. Evidence proved that Manuel Noriega, Panamas ruler at the time, was working for the FBI and was on the CIA payroll until 1987, despite the fact that he was known to be involved in drug trafficking, which is a serious crime in all countries. By January 1990 the administration of the canal was due to be handed over t o Panama. Noriegas involvement with the US and co-operation has slowed downRead MoreTheodore Roosevelt s Influence On Latin America1290 Words   |  6 PagesRoosevelt to implement this policy during the invasion of the Dominican Republic by European debt collectors, and Venezuelan Crisis. Lastly, Theodore Roosevelt had a motto: Speak softly and carry a big stick. The United States Navy became Roosevelt’s stick, which aided the United States in both defending its territory and avoiding war. Many Latin Americans did not look favorably on â€Å"Yankee Imperialism,† which resulted in more than thirty-five invasions from the United States. The conflict that cameRead MoreGunboat Diplomacy1524 Words   |  7 Pagesbegan plans for the construction of the Panama Canal. This is where the essence of the Gunboat Diplomacy comes in. Gunboat Diplomacy involves intimidation by threat or use of military force. He ended up taking Panama and then leaving the Congress to debate the situation out and while debating was building the canal. The invasion of Panama to depose Manuel Noriega was the root of Gunboat Diplomacy. Before the Panama Canal was constructed, the country of Panama was a province of Columbia. The FederalRead More Iraq: a Lesson from Panama Imperialism and Struggle for Sovereignty4429 Words   |  18 PagesIraq: a Lesson from Panama Imperialism and Struggle for Sovereignty If History is to be the signifier of lessons learned, then why do wars continue to happen? The United States has never really been considered an Imperialist nation, but as history proves, the US has had a long stake in international geopolitical control over various countries, as well as economic markets that have made these countries dependent on the United States for survival. In light of recent events in Iraq,Read MoreThe Invasion of Grenada839 Words   |  3 PagesThe invasion of Grenada also know as â€Å"Operation Urgent Fury† was a U.S invasion to the Grenada Island in 1983 that Overthrew the communist government in favor of a pro-Western one in a period of less than two months. On October 13, President Reagan was made aware of possible trouble in Granada. Deputy Prime Minister Bernard Coard had removed Prime Minister Maurice Bishop and recognized military rule. Six days later, Bishop was murdered. Bishop was a socialist and had bonds with Cuba; he spent hi s

Deconstructing Theory of Comparative Advantage †Free Samples

Question: Discuss about the Deconstructing Theory of Comparative Advantage. Answer: Introduction: The Gross Domestic Product of a country is the sum of the values of the goods and services produced within the geographical boundaries of a country, within a particular period of time, usually one economic year. The GDP of a country and the growth in the same is an indicator of the economic growth of the country. However, though the increase in the GDP of a country indicates that the productivity of the country is increasing and the country is experiencing economic growth, the welfare of the residents of the country cannot be robustly measured with the help of this economic indicator (Burda and Wyplosz 2013). The reasons are as follows: The distribution of income of a country cannot be seen from the increase in the GDP of the country. Even if there is high inequality in income distribution of the country but the productivity of the country is high, then also the GDP of the country will be high though the welfare of a major share of people residing in the country will be low. The GDP of a country does not take into account the development indicators like education, health, sanitation and others. The GDP of a country only takes into account the value of the final goods and services that are accounted for within the country. But there are many goods and services which are produced in a country and are not accounted for. GDP cannot account for these goods and the positive and negative externalities (Fleurbaey and Blanchet 2013). Having a high GDP does not essentially mean that the country is also doing well in terms of the overall economic development and welfare aspects, which can be seen from the following table: Country GDP Ranking (2016) HDI Ranking (2016) China 2 90 Norway 30 1 As can be seen from the above table, China excels visibly in terms of the GDP growth as it stands second in the world GDP ranking in 2016. However, when seen in terms of the Human Development Index, which measures the overall welfare of the residents of the country in terms of education, income and life expectancy, the country ranks visibly low at 90. Norway on the other hand, ranks 30th in terms of GDP but excels in the welfare grounds by topping the chart in the global scenario (Bray et al. 2012). One of the major criteria which the firms take into account while taking decisions regarding investment expenditures is the rate of interest which is prevailing in the economy under the domain of which it operating at that particular point of time. This is the interest rate in the country determines the amount of borrowing and also the amount of saving. When the interest rates are high, households as well as firms borrow less as the cost of borrowing is high. Conversely, a lower interest rate prevailing in a country boosts up borrowing which in turn increases the investment expenditures of the firms (Mankiw 2014). This can be shown with the help of the following diagram and taking references of the two countries, the United States of America and the Japan: As can be seen from the above figure, a higher rate of interest rate increases savings and discourages borrowings, thereby decreasing the investment expenditure as is currently seen to be happening in the USA as the Federal Reserve is increasing their interest rate. On the other hand a lower interest rate increases the extent of investment expenditures as the commercial firms as well as the households gain confidence to borrow money from the banks. This is the case, which is consistently prevailing in Japan over the last few years. The interest rates are maintained at almost a negative level in the country, which facilitates investments tremendously which n its turn can be considered to be one of the driving force and primary factor behind the countrys impressive growth (Aron et al. 2012). Implications of interest rate on the growth of GDP: When the interest rate of a country prevails at a low level, it facilitates borrowing and investment expenditures in the country as discussed above. Investment being one of the significant components of the aggregate demand in any country, the rise in the investment expenditures increases the aggregate demand in the country, which in its turn contributes in increasing the overall productivity in the country in that particular period of time. This in its turn facilitates the economic growth of the country and the GDP of the country experiences positive growth (Mankiw 2014). Thus, it can be asserted that in a general framework, lower interest rates facilitates borrowing and investment expenditure in a country, which in turn increases the aggregate demand and the GDP of the country is expected to rise. The comparative advantage theory of international trade came after the limitations of the classical trade theory of absolute advantage in trade were revealed. According to the comparative advantage theory, a country tries to specialize in the production of that commodity or service and also tries to export the same in which it experiences a comparative advantage in production, over the other country with which it is trading. In simpler words, a country generally exports that commodity, which it can produce abundantly, and more cost effectively, depending upon the nature of resources it has and imports that commodity which it cannot produce efficiently and has a comparative disadvantage than the other countries with which it is trading (Gopinath, Helpman and Rogoff 2014). The theory of comparative advantage is considerably relevant in the real world trade scenario as the countries do export the goods and services which they can produce more efficiently than others do and imports those commodities or services whose domestic cost of production is high. When considered from a broader and generalized perspective, free trade is expected to benefit all the countries in the world as free trade allows the consumers of a country to get products at a cheaper price and the firms of the country to export their products and earn revenue. However, though it has many positive implications on the economic growth of the countries, there are several negative implications of the same, especially in the less developed or developing countries. In these countries, the existence of free trade often poses threat to the growth of the small domestic industries as their bigger global counterparts gain the market by providing better quality commodities at a cheaper price, which prevents the domestic firms to attain economies of scale. Again restricting free trade by imposing tariffs also hamper the firms as they cannot import new innovations, technologies and improved machineries from abroad to boost up their production (Schumacher 2013). References Aron, J., Duca, J.V., Muellbauer, J., Murata, K. and Murphy, A., 2012. Credit, housing collateral, and consumption: Evidence from Japan, the UK, and the US.Review of Income and Wealth,58(3), pp.397-423. Bray, F., Jemal, A., Grey, N., Ferlay, J. and Forman, D., 2012. Global cancer transitions according to the Human Development Index (20082030): a population-based study.The lancet oncology,13(8), pp.790-801. Burda, M. and Wyplosz, C., 2013.Macroeconomics: a European text. Oxford university press. Fleurbaey, M. and Blanchet, D., 2013.Beyond GDP: Measuring welfare and assessing sustainability. Oxford University Press. Gopinath, G., Helpman, E. and Rogoff, K. eds., 2014.Handbook of international economics(Vol. 4). Elsevier. Mankiw, N.G., 2014.Principles of macroeconomics. Cengage Learning. Schumacher, R., 2013. Deconstructing the theory of comparative advantage.World Social and Economic Review,2013(2, 2013), p.83.

Interesting Personal Statement Essays (563 words) - Computer

Interesting Personal Statement National Merit Scholarship Scholarship Essay "Would you please get the mail," my mother implored as I entered the door. Heading towards the mailbox, I wondered if I would find daily assortment of bills and catalogues or something interesting addressed to me. To my delight, the first item was the new issue of PC Computing. Ever since I was introduced to computers when I was five, I have been fascinated by them. The summer before my sophomore year of high school, I wrote a program called Quickchange 95 using Visual Basic. This program changed the startup and shutdown screens of Windows 95. I distributed the program via shareware archives on the Internet, and I received email from all over the world about my creation. I shuffled through one of my mother's clothing catalogues to find my issue of Money Magazine. I have been interested in business and finance since the day which we started studying the stock market in fifth grade. The summer before my junior year, I combined my interests in business and computers by starting a web design company with a friend. We created a web site for a local bike shop which is only one of two bike shops in Connecticut to have a presence on the Internet. Currently, I am the head web designer for my school. I intend to combine computers and business in my future career. My goal is to work on the business side of a computer firm, and eventually, I would like to start my own computer company. A board of education letter of commendation for my participation in the FIRST robotics program also arrived today. I have been able to develop my entrepreneurial skills through the FIRST robotics program. FIRST is a national engineering competition in which partnerships are formed between local businesses and high schools to design and build a robot-like machine. The team has about six weeks to build a machine, that must be able to compete in a timed sporting event. I have been involved in FIRST each year of my high school career. Last year, I was team captain, and our team finished fourth in the country out of one hundred and fifty-six teams. As a result of my involvement with FIRST, I have improved my confidence, my leadership, and my team working abilities. FIRST gave me experience working with a diverse group of people with a variety of skills. Working alongside engineers from our sponsor company, International Fuel Cells, exposed me to the professional world beyond the classroom . I have a great appreciation for this program which has challenged me to bring out the best in myself and others. My last piece of mail was Tennis Magazine. I began playing tennis at the age of eight. During my freshman year, I played on the junior varsity tennis team, and I received the Manchester Racquet Club deserving player award which is a scholarship for a year of indoor lessons. The next two seasons, I played on the varsity tennis team. Last year, I was named to the Hartford Courant All Academic Team. Tennis has provided a welcome diversion from my technical pursuits. "What took you so long?" my mother asked as I entered the house. "Oh nothing, I really have to start my homework," as I tucked my magazines under my arms and ran up the stairs.