A Midsummer Night s Dream Essay - 1286 Words

Within A Midsummer Night’s Dream there are many different similes and metaphors that are themselves within another simile or metaphor. What stuck out to me was the meaning of that, the multi-layered symbolism. From the title of the play to the ending speech, the possibility of this being a dream is clearly stated. Inside of that the woods are a dreamlike state that are outside of Athens in what could be called a purgatory between the reality of Athens and the fiction of the play within the play. Through the changes in setting, Helena’s idea of love being able to take different forms is constantly recycled. The various viewpoints of love within the play are all individually described in the differing settings, which culminates in an outside perspective that is hindsight. To be able to look back and see that the various metaphors of love are unable to stand alone and must be combined in order to see love objectively. The play begins in Athens in which the constraints on love are rigid and conservative. The social pressures of the hierarchal structure of Athens are what place the bounds on love. The potential of humanity is a frightening concept to authoritative figures of government control. In the play Hermia is pleading to the Duke for a way out of her arranged marriage and he gives her options of becoming a nun or getting killed if she refuses to do as her father wishes. There is nothing in the gray area as far as what is expected, there are literal laws against theShow MoreRelatedA Midsummer Night s Dream1094 Words   |  5 PagesJeana Jago Theater History J. Robideau October,1st 2015 A Midsummer Night’s Dream In a Midsummer Night’s Dream, Shakespeare story about romantic desire. Theseus and Hippolyta, are about to be married; both of them are wonderful figures from classical mythology. (Greek Mythology) Theseus is a great warrior, a kinsman of Hercules; Hippolyta is an Amazon warrior-woman, defeated in battle by Theseus. (Theseus and Hippolyta) He was longing for the wedding day, and this is what opens the play and closingRead MoreA Midsummer Night s Dream1905 Words   |  8 PagesA MIDSUMMER NIGHT’S DREAM As Duke Theseus and Hippolyta prepare for their wedding, in A Midsummer Night’s Dream, Egeus arrives with his daughter Hermia, who is in love with Lysander. Egeus wants Hermia to marry Demetrius who loves her back. Helena is in love with Demetrius. The Duke tells Hermia she will either die or become a nun if she does not obey. Hermia and Lysander run away to the forest. In the forest, Oberon and Titania, the king and queen of the fairies, mix the couples up when they squeezeRead MoreA Midsummer Night s Dream911 Words   |  4 PagesPranti Ahmed Blue 4 Brit Lit April 8 2015 A Midsummer Nights Dream Topic #1 Love is a timeless topic which Shakespeare explores in depth in â€Å"A Midsummer Night’s Dream â€Å". Shakespeare utilizes the format of a play within a play to communicate the complexities of love. Love is a force that characters cannot control. The play includes scenes of lovers searching for fulfillment in the arms of characters who are unavailable. The magic love potion wreaks havoc between actual lovers andRead MoreA Midsummer Night s Dream988 Words   |  4 PagesCharacter transformation is a major theme in Shakespeare’s A Midsummer Night’s Dream and the transformation of main characters directly lead to them getting married to their respective partners. A character that faces many obstacles in his pursuit of Hermia is Lysander, who transforms dramatically from the person he was at the beginning of the story. Lysander seems to need to go through a transformation because he resembles Demetrius so closely that it is hard for him to differentiate himself fromRead MoreA Midsummer Night s Dream852 Words   |  4 PagesIntro Paragraph:In the play A Midsummer Night’s Dream by William Shakespeare.Shakespeare portrays four different kinds of love,parental love,romantic love and complicated love.The way I see what he shows us readers is that love is in a way connected to life because life is very unpredictable since no one’s what will happen tomorrow in a way love is the same way it is very unpredictable because you never know where is might end up. Just like in the play who knew if Hermia and Lysander will end upRead MoreA Midsummer Night s Dream Essay854 Words   |  4 PagesA Midsummer NIght’s Dream A â€Å" Midsummer Night’s Dream† is a classical play written by William Shakespeare. It is one of his more eccentric piece of work. The play is about the struggle of love between four essential characters: Hermia, Lysander, Demetrius , and Helena. However, it is not quite that simple. The play is quite confusing. In â€Å"Midsummer Night’s dream† the play take place in two realms fairy realm and human realm, two of the three main settings. Another one of the settings take placeRead MoreA Midsummer Night s Dream Essay1664 Words   |  7 PagesIn A Midsummer Night’s Dream, one of the most poignant similes occurs when Theseus advises Hermia that she should yield to her father’s wishes because she is his creation, a figure in wax, and he has the power to command her, mold her, or destroy her at will (MND I.I.49-51). In Athenian society, a woman is expected to yield control of her life to men and to allow them to mold her affections to their w ill. The simile of a woman as a wax figure suggest that the only resolution to conflict is for theRead MoreMidsummer Night s Dreams Essay1365 Words   |  6 PagesMidsummer Night’s Dreams Essay The Midsummer Night’s Dreams, a comedy written by the famous British poet William Shakespeare, describes the events that relate to the wedding of Theseus and Hippolyta. It is composed of four interconnected plots that tell us the nature of love, including the adventure of four Athenian lovers: Demetrius, Helena, Lysander and Hermia; Oberon’s revenge on Titania and the mechanicals who are the six amateur actors. Among all these characters, two of the four lovers, HermiaRead MoreWilliam Shakespeare s A Midsummer Night s Dream1339 Words   |  6 PagesHonors For A Midsummer Night s Dream By William Shakespeare 1. Title of the book - The title of the book is called A Midsummer Night s Dream by William Shakespeare. 2. Author s name - The author of the book A Midsummer Night s Dream is William Shakespeare. 3. The year the piece was written - A Midsummer Night s Dream by William Shakespeare was believed to have been written between 1590-1596. 4. Major Characters - There are three major characters in the book A Midsummer Night s Dream by WilliamRead MoreA Midsummer Night s Dream And A Doll s House1365 Words   |  6 Pages A Midsummer Night’s Dream A Doll’s House, written by William Shakespeare and Henrik Ibsen respectively, are plays that have a varying number of themes. These two plays are centuries apart yet, they share a strikingly similar approaches in regards to the themes that are scattered throughout both plays. Such themes consists of love and marriage, deceit and honesty and most noticeably the relationship between men and women. Though they share many of the same thematic elements, their stories are completely

Milgram and Zimbardo - Ethics and Usefulness - 839 Words

Read the material on Milgram Zimbardo and explain which study is the most useful in understanding human behaviour in a social situation (focusing on the methods used and findings obtained) and which study is the most unethical. The study of social psychology, particularly conformity, is very difficult to conduct both ethically and accurately in order to be able to obtain useful results. In the studies done by Milgram and Zimbardo, ethics were definitely breached but to what extent were these experiments useful, and which one offered the most insight into human behaviour? While both Milgram and Zimbardo’s methods were flawed and unethical towards the participants I believe that the ends of the Milgram experiment justified the means†¦show more content†¦How much different were the results Zimbardo found compared to those that Milgram had found prior? Milgram’s results showed that people would follow orders while violating their deepest beliefs, and in fact this was more common the view that most people held. While Zimbardo’s experiment was still useful I believe that Milgram’s experiment was most useful in understanding human behaviour when it comes to conformity. When sp eaking of ethics, I believe that both experiments were very much against the standards of ethics that we now hold true today, however, I believe Zimbardo’s experiment was a larger violation of ethics. The protection of participants is very important having to do with humiliation, embarrassment and loss of dignity of the participants. In social situations in bigger groups it is more humiliating for humans to do something morally incorrect then in front of only one person. Similarly the fact that the participants were in larger groups can create more social stress and anxiety. While both experiments had implications of violence, Zimbardo’s experiment also caused participants to abuse each other while Milgram’s participants were only believing they were electrocuting someone when in debrief they were assured no one was harmed. Both studies are highly criticized for the deception of the participants however, it isShow MoreRelatedSociology and Group41984 Words   |à ‚  168 Pagesagree with Tasha and Bill when they make a recommendation. A(n) _______________ is operating in this circumstance. a. status norm b. interaction norm c. achievement norm d. procedural norm e. inclusion norm Answer: a. status norm . Stanley Milgram s classic experiment to find out whether people would obey commands to give subjects painful electric shocks demonstrated that a. people are ruthless when making decisions about the welfare of strangers. b. pressure from an authority figureRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesBounded Rationality, and Intuition 175 †¢ Common Biases and Errors in Decision Making 177 Influences on Decision Making: Individual Differences and Organizational Constraints 184 Individual Differences 184 †¢ Organizational Constraints 186 What About Ethics in Decision Making? 187 Three Ethical Decision Criteria 187 †¢ Improving Creativity in Decision Making 188 Summary and Implications for Managers 190 S A S A S A L L L Self-Assessment Library What Are My Gender Role Perceptions? 166 glOBalization

Pepsico Free Essays

What three costs do pennies impose on society? A. The cost of metal used In pennies has gone up beyond the face value of the coin itself. So manufacturing pennies is not worth. We will write a custom essay sample on Pepsico or any similar topic only for you Order Now It takes approximately 1. 8 cent to create one penny coin. Eventually this cost will be suffered by the society. B. Pennies are not worth the time to count or store In the current economic market. C. Pennies result In dead weight transaction In the economy. 2. Are U. S. Coins fiat money or commodity money? Other than pennies and nickels, U. S. Runners today is fiat, the face value being bestially more than the value of the metal or paper. 3. Why such a slow recovery? Name the explanations for the slow US recovery John Taylor reject. Explain his reasoning. Slow Recovery- Gap does not close between Potential GAP and Real GAP. This is due to variety of macro and micro reasons. Macro reasons – long time low interest rates, debates about the size of multiplier Micro reasons – demand for housing, stimulus package aimed at health care, excessive risk taking Secondly the growth rate of Real GAP was very low. Due to low growth rate, Employment recovery as weak, causing big fraction of working age population not working. 4. Which argument does John Taylor find most convincing? John finds bad economic policy being the major reason for slow economic growth- like stimulus packages, cash for clunkers, subsidies for first time home buyers. All these created short time solution but not sustainable recovery. 5. What are some of the measures of uncertainty that John Taylor considers as contributing to the slow recovery? John thinks that it is hard to make long term decision when economy is in uncertain state. The expiration of 2001-2003 tax cut, temporary cut in social security tax, expiration of unemployment benefits, delay in fix of Medicare, affordable care act taxes imposed, spending cuts – all this caused general uncertainty. 6. What are the key explanations for the slow recovery that Dry Lamer gives that differ from John Tailor’s explanation? A. The Job market Is not strong, there are extreme Job losses. In the normal Job market scenarios the Jobs are lost, layoffs are done and people are hired back. In the current situation the Jobs are lost and workers are displaced arcing them to relocate and in many cases acquire new skills. One example is half a mil manufacturing jobs permanently displaced workers. These jobs did never come back. B. Due globalization and government policies , there are advanced technological changes in the manufacturing as well as many other industries increasing the productivity. But the low skilled labor is not competent to this technologically advanced job market. For this education system must undergo changes to create the workforce which is skilled for such jobs. 7. What three costs do pennies impose on society? Re not worth the time to count or store in the current economic market. . Pennies substantially more than the value of the metal or paper. 9. Why such a slow his reasoning. Slow Recovery – Gap does not close between Potential GAP and Real was weak, causing big fraction of working age population not working. 10. Which these created short time solution but not sustainable recovery. 11. What are some of the measures of uncertainty that John Taylor considers as contribut ing to the slow taxes imposed, spending cuts – all this caused general uncertainty. 12. What are the Tailor’s explanation? . The Job market is not strong, there are extreme Job losses. In mil manufacturing Jobs permanently displaced workers. These Jobs did never come back. D. Due globalization and government policies , there are advanced technologically advanced Job market. For this education system must undergo changes to create the workforce which is skilled for such Jobs. 13. What three costs do pennies impose on society? A. The cost of metal used in pennies has gone up beyond the face value of the coin result in dead weight transaction in the economy. 14. Are U. S. Coins fiat money or bestially more than the value of the metal or paper. 5. Why such a slow was weak, causing big fraction of working age population not working. 16. Which these created short time solution but not sustainable recovery. 17. What are some taxes imposed, spending cuts – all this caused general uncertainty. 18. What are the Tailor’s explanation? E. The Job market is not strong, there are extreme Job losses. In back. F. Due globalization and government policies , there are a dvanced 19. What three costs do pennies impose on society? Result in dead weight transaction in the economy. 0. Are U. S. Ions fiat money or substantially more than the value of the metal or paper. 21. Why such a slow was weak, causing big fraction of working age population not working. 22. Which these created short time solution but not sustainable recovery. 23. What are some taxes imposed, spending cuts – all this caused general uncertainty. 24. What are the Tailor’s explanation? G. The Job market is not strong, there are extreme Job losses. In back. H. Due globalization and government policies , there are advanced 25. What three costs do pennies impose on society? Cult in dead weight transaction in the economy. 26. Are U. S. Coins fiat money or substantially more than the value of the metal or paper. 27. Why such a slow was weak, causing big fraction of working age population not working. 28. Which these created short time solution but not sustainable recovery. 29. What are some taxes imposed, spending cuts – all this caused general uncertainty. 30. What are the Tailor’s explanation? I. The Job market is not strong, there are extreme Job losses. In back. How to cite Pepsico, Papers

Monopolistic Competition Market and Products

Question: Discuss about the Monopolistic Competition Market and Products. Answer: Introduction: As stated by Rubinstein (2012), a monopolistic market is characterized by many consumers and more than one producer and the products are non-homogeneous. The products are substitute goods in nature to some extent. Because of this characteristic, no one has complete control over the market. The consumers have knowledge of the market where non-price differences among various goods and services prevail, although perfect information will be absent in the market. The barriers to entering the market will be more than the perfect competition and lesser than monopoly market. Although in the long run there will be no cost of entry and exit in the market. Producers have control over the prices of the goods which only supplied by them. The products being sold by the sellers are similar but differentiated. This means there are differences regarding the demand elasticity of the goods. If the price of good becomes too high, the consumers will shift to the next best product easily. According to the ideas of Sacks et al. (2015), the demand for the products is not perfectly elastic as the number of producers is less than that in a perfectly competitive market. Hence, the products and services being sold in this market are not perfect substitutes. The concept of short run states that at least one of the factors of production are fixed, while the other factors may vary. In the long run, all the factors of production are variable. Following the views of Osharin et al. (2014), in the short run, a firm operating in a monopolistic market tries to minimize its losses. The production condition for the firm is MR = MC. This means the producers produces at that point where their marginal revenue (MR) is equal to marginal cost (MC) . In the views of Zhelobodko et al. (2012), the situation of profit will only arise when the producers average total cost is lower than the market price he is getting. The situation is depicted in the figure below. As shown in the figure above, the monopolistic price is Pm and the quantity supplied at that price is Qm. Here, AR is the perceived demand curve faced by the producer at which he thinks the demand will be. In realty, he faces the proportionate demand curve as shown in the figure. According to this figure, the average total cost is lower than Pm. As stated by Parenti, Thisse and Ushchev (2014), this gives the producer the opportunity to earn an economic profit. If the average total cost were above the monopolistic price margin, the producer would have incurred a loss. In that situation, if he thinks he can make a profit, in the long run, he will remain in the market. Otherwise, he might leave. In the views of Assenza et al. (2015), in the long run, if other firms see the opportunity of profit, they will enter the market, which will divide the demand into further fragments, making the profit margin low for all the firms. This will increase the cost of productions, and the inefficient f irms will leave the market. The remaining firms will earn the normal profit then. As stated by Nikaido (2015), in the long run, the firms will produce where the average cost is equal to the price corresponding to the point where the marginal revenue and marginal cost ae equal. The situation is depicted in the figure below. As shown in the figure above, if a producer moves beyond MR = MC, he will incur more marginal cost than marginal revenue. He produces where ATC is equal to AR at point A. The point B represents allocative efficiency at the marginal cost which is equal to market price. The point C represents a situation in the long run, where the ATC is minimum and productive efficiency prevails. According to the ideas given by Roberts (2014), the producers do no operate here; hence, they operate with excess potential or capacity. As shown in the figure, if the producers want to produce more than Qm they will incur a loss. In the views of Nocco, Ottaviano and Salto (2014), the profits or the losses in the short run gets eroded by the entry and exits in the market. While in short run profit attracts more sellers, they will join the market eroding the profit margin. Similarly, prevailing loss in the market will make some inefficient firms leave the market. This will erode the loss margin in the long run. As shown in figure 2 above, the productive efficiency comes when the producer is operating at the point C. It will make the producer operate at the point where the average total cost is least. Following the ideas of Dhingra and Morrow (2012), the allocative efficiency will occur when the market price is equal to the marginal cost, which is given in the figure above by the point B. Productive efficiency will occur in a monopolistic competition when the producers use the resources efficiently. Allocative efficiency in this market structure occurs when the firms produce to maximize the social welfare. In monopolistic competition, there are many buyers and sellers as well, who specializes in selling their products. As the products are similar but differentiated, the producers have somewhat control over their products prices. The hotel restaurant industry is an example of monopolistic competition. In this industry, there are chains of restaurants which are engaged in monopolistic market structure. Due to its high number of suppliers and consumers, the market seems like a competitive market, and the different types of products with different prices shows the characteristics of a monopoly market. In the ideas of Lee, Sardeshmukh and Hallak (2015), the restaurant industry in Australia has faced a boom due to various reasons since past few years. The mining boom in the country and the tourism industry has caused this massive increase in demand for the restaurant industry. The sports industry in the country also brings many international tourists in the country. All these reasons are res ponsible for the increasing demand for restaurants. The cost of factors in the country is low due to the high functioning agricultural sector. It increased the supply in the industry along with improved business ethics. The key features of this industry of the restaurant industry are as follows: A large number of producers: The market is characterized by a large number of restaurant businesses. Examples of some of the producers of this industry are Attica, Brae-Birregurra, Sepia, Quay, Ester, and many other chains of restaurants. These restaurants serve a huge number of customers over one year. According to the ideas of Lbaj et al. (2016), a large number of producers has come to the market for meeting the demand from a huge number of consumers in the country. Over the past five years, the restaurant industry of Australia has witnessed a growth of %.6 percent. The annual revenue in this industry is $14 billion for the last year which contributes a lot to Australias national income. 290,142 people of Australia's total population are employed in this industry. Hence it can also be said that the industry plays a huge role in reducing unemployment in the country. Following the ideas of Balistreri and Rutherford (2013), it can be said that, as the demand for the restaurants is inc reasing, the number of suppliers are also increasing. Product differentiation: The producers operating in this market are producing similar products. All are producing foods for mainly high end customers. But these foods are somewhat differentiated. Some of the restaurants are specialized in sea foods, some of them are specialized in western foods. Some restaurants also serve alcoholic beverages with the foods. The differences also lie in the ingredients and recipes of the same foods served in different restaurants. The chefs play a vital part in making different products in this market. Product differentiation is the reason why the market demand curve is elastic. People have a choice regarding choosing any food. Some of the foods are seasonal. The demand for those foods rises in certain seasons only. For example, the demand for the ice cream sold in the restaurants sees the high demand during the summer. On the other hand, the demand falls during winter for ice creams. Selling costs: The selling costs are different for different restaurants in the industry. The selling cost determines the price the producers should charge with constraints being the market competition. Restaurants with less selling costs can earn more profit in the market. As stated by Schiff (2015), the selling costs differ due to various reasons like location, cost of acquiring resources, the cost of management, cost of adding values to the products, advertising the products, and others. There are two types of costs namely fixed cost and variable cost. The fixed cost is incurred by the producer before the production process starts and the amount remains the same even during the production. The variable cost changes with the change in quantity produced. With more production, the variable cost will increase. Freedom of entry and exit: The industry possesses the freedom of entry and exit of the producers in the market. In the short run, if a producer is incurring loss he has the opportunity of leaving the market. If the produces faces profit in the short run, they will opt for operating in the market, in the long run as well. Bennelong, Automata, Firedoor, and many other restaurants have recently joined the industry. The absence of perfect knowledge: The absence of perfect knowledge is one of the reasons the monopolistic competition remains in the industry. If the consumers had perfect knowledge regarding the market and the prices, the restaurants charging higher prices will become inefficient and lose the share of demand it receives. It will also show the customers how much extra they are paying for the services. Non-price competition: The competition that exists among different restaurants is more quality oriented than price and quantity. Those restaurants serving fresh foods with a better environment and services will face more demand than those with lesser quality. The price of the products is of less significance in the competition. Behaviour of the restaurants and their net impact on consumers: The behaviour of the restaurants affects the consumers hugely. These impacts are both positive and negative. The pricing policy of the restaurants plays a basic role in affecting the consumers, which is not very significant as the quality of the services matters to the consumers more than the price. The competitive advantage of a restaurant makes a huge impact on the consumers. The strategies taken by the restaurants to gain competitive advantages varies from one restaurant to another. There are strategies like an advertisement, using social media, printing media, and other media to reach the customers. Those restaurants who can reach more customers with more commodity information will face more demand. The marketing strategies taken by the restaurants depend on the leadership styles they are following. The leaders follow different marketing strategies to introduce the products to the customers. Apart from providing the service with added values, there are many external factors which are to be addressed by the leaders. In the views of Hua, Xiao and Yost (2013), the restaurants can follow aggressive or defensive roles in capturing the market shares. Most of the strategies which are targeted to boost up the images of the restaurants in front of the customers show positive net effects. On the other hand, when the internal traits such as service, quality, and others do not meet the expectations of the consumers who are drawn to the restaurants by the aggressive strategies, negative net affects follow. The demand for the products for those restaurants will fall. Following the views of Gleeson (2016), the negative externalities that arise from the Adani Group's Carmichael coal mine located in Queensland's Galilee Basin will affect the locals and the environment as well of Queensland. The extraction of coal from the Carmichael coal mine will bring negative effects which will be caused by the huge amount of emission. The extraction of the raw coal and processing is associated huge emission. The local people will be badly affected by this as the whole area will be. As stated by Dres and Koster (2016), the greenery also takes the hit. The life chain of that place, which includes animals and birds, also gets disrupted. The distribution process will also affect the local environment negatively. But these negative externalities will not be covered by the investors who are rooting for the extraction. The situation can be shown in the figure below. As shown in the figure above, the yellow area is the total social welfare loss due to the coal extraction. As stated by Heath (2014), the marginal private cost and the marginal private benefits are used in general to find out the quantity that should be extracted and the corresponding price. The price P1 as shown in the figure above does not incorporate the social cost of extraction of the coal. If the social cost were included, the equilibrium would have been at (P2, Q2). Here the quantity is less, and the price incorporates the society's welfare loss. In the views of Kitzmueller and Shimshack (2012), the social loss or the dead weight loss of the societys welfare occurs when the marginal social cost is greater than the marginal private cost of extracting the coal in Queensland. As the price does not properly reflect the total cost in the scenario, the market failure occurs. The equilibrium which the Adani Group represents shows market inefficiency. To increase the profitability, th e company can increase production. It will help the company in achieving the increasing returns to scale. But, with more production, more pollution will be produced. The government of Australia can address the negative externalities associated with the market failure. The policies that can be taken by the government to reduce market failures are as follows: Implementing a tax on negative externalities: The government of Australia can introduce new taxes for the Adani Group's Carmichael coal mine project. According to the ideas given by Rahwan et al. (2012), the negative externalities which are caused by the coal extraction and distribution will be compensated by the amount of tax being paid by the company. The tax structure will depend on the government policies. In the views of Mazzucato and Penna (2015), the government can implement a proportionate tax or a lump sum tax. The proportionate tax will help the government determine how much the company is adding to the social cost. The lump sum tax will not be able to capture the proper amount of the social cost. Subsidy allocation for positive externalities: The government can provide subsidies to make positive externality creation attractive. This will help the company avoid sacrificing their profit. It will work as an initiative for creating positive externalities. The positive externalities will help the local people to increase their utility. For example, the new project will create new opportunities for skilled and unskilled labours. This will increase the employment in that locality. In the views of Krekel and Zerrahn (2016), the government can make a rule which will clearly state that after extraction process is done; new trees will be planted in the whole extraction site. This will make the environment balanced in Queensland. Laws and regulations: The government has to create new laws and regulations to reduce the social cost which is the result of market failure. In the views of Pinotti (2012), the government can ensure that the difference between the marginal social cost and the marginal private cost tends to decrease. The laws will be created after estimating the cost to the society. This way the market failure will be reduced as the company will try to ensure that the efficiency is properly achieved. Pollution permits: The government can start giving pollution permits to control how much a company can produce pollution. In the views of Chasek, Downie and Brown (2013), the negative externalities will decrease as a result. The companies will know beforehand about starting their production process how much they are allowed to produce pollution. It will also help the companies to determine their production strategy. The pollution permit with a certain amount will be given to the Adani Group's Carmichael coal mine project. It will increase their cost of production as the production process will now incorporate the social cost. This way the market failure can be removed from the company. References Assenza, T., Grazzini, J., Hommes, C., Massaro, D. (2015). PQ strategies in monopolistic competition: Some insights from the lab. Journal of Economic Dynamics and Control, 50, 62-77. Balistreri, E. J., Rutherford, T. F. (2013). Computing general equilibrium theories of monopolistic competition and heterogeneous firms. Handbook of Computable General Equilibrium Modeling, 1, 1513-1570. Chasek, P. S., Downie, D. L., Brown, J. (2013). Global environmental politics. Westview Press. Dhingra, S., Morrow, J. (2012). Monopolistic competition and optimum product diversity under firm heterogeneity. London School of Economics, mimeograph. Dres, M. I., Koster, H. R. (2016). Renewable energy and negative externalities: The effect of wind turbines on house prices. Journal of Urban Economics, 96, 121-141. Gleeson, M. (2016). Qld gov't to fast track Adani coalmine. Green Left Weekly, (1114), 8. Heath, J. (2014). Morality, competition, and the firm: The market failures approach to business ethics. Oxford University Press. Hua, N., Xiao, Q., Yost, E. (2013). An empirical framework of financial characteristics and outperformance in troubled economic times: evidence from the restaurant industry. International Journal of Contemporary Hospitality Management, 25(6), 945-964. Kitzmueller, M., Shimshack, J. (2012). Economic perspectives on corporate social responsibility. Journal of Economic Literature, 50(1), 51-84. Krekel, C., Zerrahn, A. (2016). Does the presence of wind turbines have negative externalities for people in their surroundings? Evidence from well-being data. Journal of Environmental Economics and Management. Lbaj, M., Morvay, K., Silanic, P., Weiss, C., Yontcheva, B. (2016). Market Structure and Competition in Transition: Results from a Spatial Analysis. Lee, C., Sardeshmukh, S. R., Hallak, R. (2015). Innovation as a driver of performance in the Australian restaurant industry. CAUTHE 2015: Rising Tides and Sea Changes: Adaptation and Innovation in Tourism and Hospitality, 224. Mazzucato, M., Penna, C. C. (2015). Beyond market failures: The market creating and shaping roles of state investment banks. Levy Economics Institute of Bard College Working Paper, (831). Nikaido, H. (2015).Monopolistic Competition and Effective Demand.(PSME-6). Princeton University Press. Nocco, A., Ottaviano, G. I., Salto, M. (2014). Monopolistic competition and optimum product selection. The American Economic Review, 104(5), 304-309. Osharin, A., Thisse, J. F., Ushchev, P., Verbus, V. (2014). Monopolistic competition and income dispersion. Economics Letters, 122(2), 348-352. Parenti, M., Thisse, J. F., Ushchev, P. (2014). Toward a theory of monopolistic competition. Pinotti, P. (2012). Trust, regulation and market failures. Review of Economics and Statistics, 94(3), 650-658. Rahwan, T., Michalak, T., Wooldridge, M., Jennings, N. R. (2012). Anytime coalition structure generation in multi-agent systems with positive or negative externalities. Artificial Intelligence, 186, 95-122. Roberts, K. (2014). The limit points of monopolistic competition.Noncooperative Approaches to the Theory of Perfect Competition,3, 141. Rubinstein, A. (2012). Lecture notes in microeconomic theory: the economic agent. Princeton University Press. Sacks, G., Mialon, M., Vandevijvere, S., Trevena, H., Snowdon, W., Crino, M., Swinburn, B. (2015). Comparison of food industry policies and commitments on marketing to children and product (re) formulation in Australia, New Zealand and Fiji. Critical Public Health, 25(3), 299-319. Schiff, N. (2015). Cities and product variety: evidence from restaurants. Journal of Economic Geography, 15(6), 1085-1123. Zhelobodko, E., Kokovin, S., Parenti, M., Thisse, J. F. (2012). Monopolistic competition: Beyond the constant elasticity of substitution. Econometrica, 80(6), 2765-2784.

Analysis of Jude the Obscure Essays

Analysis of Jude the Obscure Essays Analysis of Jude the Obscure Paper Analysis of Jude the Obscure Paper Jude the Obscure was panned by critics upon its release towards the end of the nineteenth century. The criticism had such an effect on Hardy that he wasnt to write another novel before his death. His attack of Britains dearest institutions (marriage, the class system and higher education) had people so up in arms that the Bishop of Wakefield even burned his copy and persuaded Smiths Circulating Library to withdraw it. The story is a simple tale of a simple orphan boy in a rural district who entertains the diea of becoming a scholar in Christminster. He is tricked into marriage by a local girl, Arabella Donn, thwarting his studies, and the marriage fails. Jude plies his trade as a stonemason in Christminster, hoping that somehow hell be accepted there by being near to it. His experience of University however is notably one of exclusion from it: ironically he gets no closer than fixing the masonry of the university he longs so much to be a part of. After a few alcoholic binges to relieve his frustration, Jude eventually accepts his place in the world. He then falls in love with his cousin, Sue Bridehead and they have children. Society fails to accept their reltionship as legitimate, their children are killed in a shocking murder-suicide and the pair separate. His hopes and passions thwarted, Jude slips into a rapid decline and dies an early death. Cheery stuff! A summary does little to identify the underlying intentions of the novel. All of the characters within it are progressive for their time. Jude has his educational aspirations, Sue scorns moral orthodoxy and Arabella panders to her sexual appetite. Hardys story is set against a world where the common man wasnt persuaded to question their station in life. All of the characters are defeated in the end, but it is their struggle which is important. Judes marriage to Arabella signifies a major theme of the novel confinement particularly in relation to marriage. Jude is tricked into it and trapped because of the implications of divorce. He never fully retains his freedom, even when she leaves him, because he is still trapped by the institution of marriage. He is only free in the physical sense. Hardy later wrote that the novels message was simply that marriage should be dissolvable as soon as it becomes a cruelty so either of the parties being then essentially and morally no marriage. This caused uproar at the time but it is difficult to identify with today unless it is applied to certain religions. The section also deals a little with the manner in which a woman should act. Arabella is a sexual being and knows how to get her man. Jude sees in her something tangible and immediate, unlike his education. Woman of the time didnt act like Arabella does, neither of them follow social conventions and ultimately their relationship dissolves. This again relates back to the entrapment of marriage, as Arabella liberates herself and moves away to Australia, leaving Jude only a letter. Since the introduction of equal rights and divorce, it is hard as modern readers to identify with these issues. The passages concerning Judes education may have a little more relevance today however, particularly his dreams as a young boy, his self-teaching and large volume of work. He is at a disadvantage because of his social status and access to education. This is just as poignant today as it was then. In an age where only 7% of schools are private yet 50% of Oxford students are from them, what hope can someone on the lower echelons have of getting there? Education quality and access is distorted, poverty still exists and not enough is being done to create equality. Social class and status may largely have diluted but it still resonates. Hardys novel speaks of the frustrations at the elitist attitudes of our Oxfords and Cambridges. Life is unfair. Hardy draws us into it and we do care about the characters, which makes it all the more difficult to accept. His characters have no control over their lives, they are forced into their fates, and while things have largely changed, these issues still exist. Poor areas are now urban instead of rural but the ideas are the same. It isnt as controversial today as it was at its release, but I would say that the novel has some success in highlighting problems in society. Jude never reassures. It is a very realistic view of our world. It challenges its readers and raises important questions that should be considered. In 1895 it was ahead of its time. By the time of his death many of the social conventions Hardy criticises had disappeared. He was at the forefront. How does one define success? It certainly wasnt commercially. Critically it caused uproar and ended Hardys novel-writing career. However Hardy had a message and he got it across, elicited response and debate and change. Isnt that what writers want to achieve? Daniel Gourlay | Q31314 Studying Modern Literature: Semester 2 Portfolio Exercises Daniel Gourlay | Q31314 Studying Modern Literature: Semester 2 Portfolio Exercises.

Writing College Papers Under Pressure How-Tos

Writing College Papers Under Pressure How-Tos Writing College Papers Under Pressure: How-To’s Any student knows how important it is to be able to properly manage time. With the ever-increasing amount of homework, academic assignments, projects, and other tasks routine for colleges and universities, 24 hours a day just isn’t enough for school and life. Besides, students aren’t robots, so huge workloads often lead to excessive stress. As a result, a typical student – a person most likely unable to manage stress (and even less likely to manage time) becomes a person with a chronic lack of time who’s constantly worried, disturbed, or stressed out. Therefore, to make students’ lives less stressful, we’ve prepared a short guide on the most popular time and stress management techniques. Using these techniques, you’ll be able to conquer your workload without straining your nervous system. So, first are the time management techniques: Use all kinds of lists and schedules. It might be a good idea to keep a record of things you need to do in separate lists, categorizing them by different criteria. For example, you could have lists titled â€Å"Things to do for biology class;† â€Å"To-do list for the next week;† â€Å"Most urgent stuff;† and so on. You can also estimate the approximate time needed to accomplish each of the tasks that you write down in these lists. Keep these lists where you can see them; this way you’ll never forget to do something important, and having them in front of your eyes all the time will help you allocate time more effectively. Don’t multitask. Focus your efforts! This may sound like unpopular advice, since the modern world values multitasking. However, it’s been proven that multitasking hinders performance. So, when starting to work on a task, you might want to focus all your efforts on it for a short period of time. Paraphrasing the famous saying: 80% of results are achieved during 20% of time spent working on a task. Eliminate distractions. It’s surprising how many things can actually distract us right at the moment when we need to focus on an important task. Students know that sometimes even cleaning up can be a huge distraction, especially when you need to prepare for an exam. So, make sure you block access to social networks for the time you’ll be studying (there are plenty of programs designed to do exactly that); turn your phone off; isolate yourself in a quiet room with no TV; and have only the needed textbooks and materials in your proximity. You’ll be astonished at how much time you have for actually studying when you eliminate all distractions! Maintaining a cheerful and healthy spirit is as important as being able to do everything on time. So, here are some relaxation and stress management techniques for you. Conscious breath. This is the basis of a huge number of meditation techniques, and for a good reason: breathing in such a way can significantly improve your overall psychological condition, help you relax and refresh. The technique is simple: you need to start breathing, paying full attention to the very process; feel how the air flows through your nose, how it fills your lungs. Notice a small pause between every inhale and exhale. It’s recommended that you breathe slowly, while being perfectly still. You must also do this exercise in silence. Physical exercises. It’s well-known that physical exercise after mental activity is a great way to relax. You don‘t necessarily need to go to a gym; instead, you can visit the nearest swimming pool. Swimming there for 45-50 minutes at least twice a week will positively affect not just your body, but your mind as well. Slowing down. Western society is fascinated with the idea that a person is worth something only when he/she is active, and has achieved something outstanding. This is the particular factor responsible for our crazy pace of life. Although it’s always good to accomplish something worthwhile, even more crucial is to maintain a balance between your mental health and your activities. At least once a week allow yourself to be slow. Don’t rush anywhere; don’t strain to do as much as you possibly can. You can afford being inactive. Take a slow walk in the park; ignore incoming messages, or at least do not reply them immediately; turn off your reminders and alarms; move slowly, think slowly. After a period of practicing this exercise, you’ll notice that you’ve become calmer. These are just some of the most popular techniques among hundreds of others. Feel free to find those that suit you the most, as there are no universal methods only those that work or don’t work personally for you. Good luck with writing! Additionally you may use professional custom writing service to buy college papers online.

Choose one of these article Essay Example | Topics and Well Written Essays - 1250 words

Choose one of these article - Essay Example that in the above quotation, Confucius no way intends to convey that individuals born in nobility do not happen to accrue superiority by the dint of their birth and the privileges they have access to. It is a fact that Confucius supported the upholding on the old norms, ideals and values. However, while cherishing the old, in this quotation Confucius also does make way for a possibility of social mobility achieved through self worth and personal talent (Rainey, 2010, p. 18). Thereby, Confucius is making the echelons of power more open and accessible to the commoners who aspired to wrest social recognition and privileges through hard work and ingenuity (Rogers, 1993). Therefore, one simply cannot help appreciating this Confucian twist to the traditional Chinese idea of a ‘superior man’, eking in a way of harmonizing the claims of the aristocratic class with the aspirations of the more ambitious commoners. One can certainly discern the hint that this Confucian idea of the ‘superior man’, and its association with self worth and personal ability is indicative of a society, which though still governed by the nobility, is yet, gradually becoming more open. In that context the Confucian inclination of preserving the old, while welcoming the new is amply implicit in the given quotation. If one correlates the given quotation with the available historical facts, it is well known that irrespective of being a gentleman of noble birth, Confucius did allow individuals from the lower social strata to become his followers or students (Rainey, 2010, p. 18). In other words, Confucius was respective of and understanding towards the idea of social mobility and a notion of social status and position, directly ensuing from the actual abilities, efforts and drive of a person (Rogers, 1993, p. 46). Confucius does agree to in this quotation that the social space dominated by the nobility and th e aristocratic class could not remain impervious to an individual who is willing to put

MacDonald Triad Essay Example | Topics and Well Written Essays - 500 words

MacDonald Triad - Essay Example Research evidences suggest that fire setting behaviour in childhood can be linked to release of frustration or anger, which has well been recognized as potential reasons of homicidal tendency. Criminal psychologists point out that many murderers engage in animal cruelty to get courage for harming their human rivals. Like the case of fire setting in childhood, children use to engage in animal cruelty as a way of expressing their anger and or frustration. Children consider animals as weaker and vulnerable segments and hence they enjoy a wild pleasure by torturing animals. Later, those children gain power over humans and gradually this behaviour turns to violent offenses. This theoretical concept has been supported by many scholars. â€Å"Studies have found that those who engaged in childhood acts of animal cruelty used the same method of killing on their human victims as they did on their animal victims† (RTBot, 2012). In a study conducted among 45 violent offenders by McClellan (2008), it was found that nearly 56% of them had engaged in animal cruelty during childhood. It clearly indicates the notable relationship between animal cruelty and late violent behaviors. Similarly, some scholars are of the view that a child may develop frustration if he/she was punished for unintentional bedwetting during sleep and this mental state would eventually lead to violent behavior. An additional strength is that many studies could prove a close link between fire setting and animal cruelty in childhood. According to these findings, there are many common causes for obsession with fire setting, animal cruelty, and violent behaviors. The major weakness of this model is that statistical studies do not indicate a strong link between the triad and violent offenders. Some researchers argue that the three behaviors linked to violent tendencies by MacDonald may be simply resulted from parental neglect and

Strategic Management Essay Example | Topics and Well Written Essays - 1250 words - 1

Strategic Management - Essay Example Basing the argument of first mover and late mover’s theories, this paper issues the careful presentation on the move to be implemented by the company to achieve progress, according to the designated task. Introduction The prevalence of the ideology of product management and company establishment is influenced by the decision of management to implement a marketing strategy. The strategy implemented should be developed after careful study of the economy and market structure to discern positive ventures. The task has been assigned as a member of the company that seeks to expand ideologies and strategies within the market, to base decisions on effective study of the market economy. The option issued has been in the entrance to the market as a new product or advancing on the available strategies in the product behaviour within the market. The two theories in first movers and late movers are the determining factors of the market behaviour as each hold varied arguments on the need to implement a desirable strategy (Frawley & Fahy, 2006). However, with the lack of intense knowledge on company business and reaction of management to the alternatives presented, both theories should be expounded on and critical analysis discussed. Both the first mover and late mover theory hold adverse benefits and setbacks, and with the careful analysis of both presentations, better choice is accorded to the company to advance in its marketing strategies. Comparison of the two theories Timing has been considered a vital entity in the quest to establish policies and products within a market. Companies need to acknowledge the need to enter at an early stage within the market or late periods to maximize on the aspect of profit articulation. Market entry has been proved as a measure that determines the rate of prevalence of the policies implemented by a selected company. The behavioural pattern of market entry has been presented to advance in the two formulated theories that are constr ucted from the action taken by a firm to establish structures within a region. Bresser (1998) suggest that the first movers and late movers’ theories have been developed to indicate the behavioural pattern of companies within a market (Frawley & Fahy, 2006). First movers gain the upper hand within the market with the early timing of entrance within the market when the product has not been launched before in the region. The period offers minimal competition, and maximization of profit realized with positive reaction from consumers. Late movers, on the other hand, may gain advantage through implementing strategies that the first mover had applied to advance on the presentations and gain the lead within the market. These aspects have been the variations of the two theories and a careful analysis of both theories may witness the paramount effects. First movers Advantages Firstly, the measure offers leadership and progress through advanced technology in the market, preemption of t he available products, dictatorship of prices with an uninformed buyers trend. After inventing a technological progress, the advantage presented is included in attaining patents and legal ownership of products and services to retain confidentiality of their operational activities. The theory also offers access to product and services before any other company. The location of establishment may offer opportunities in

Rise And Rise Of Dhirubhai

Rise And Rise Of Dhirubhai Dhirubhai once said: Our dreams have to be bigger, our ambitions higher, our commitment deeper and our efforts greater. This is my dream for Reliance. In fact, this is my dream for India. Indeed Dhirubhai has been successful in bringing his dream to reality. From a humble beginning, Dhirubhai Ambani was successfully able to build up the largest Business conglomerate in India in a span of just 25 years. Today, the turnover of Reliance Industries forms 3% of the entire GDP. This tremendous growth in such a small time is the result of the large amount of hard work, dedication and excellence that Dhirubhai Ambani brought in to the culture of Reliance Industries. As they say, there are two sides of the coin. While there is no doubt that Dhirubhai Ambani was a highly intelligent and dedicated manager, he was not perfect, in the right sense. For a long time Dhirubhais ethics have been a matter of debate. While some consider him as a shrewd businessman, the others dont approve of certain things he did. History Dhirajlal Hirachand Ambani was born on 28th December 1932, in Chorwad Gujarat into a Modh family of moderate means. He was the second son of a school teacher. Right from childhood Dhirubhai was precocious and highly intelligent. He was highly impatient of the oppressive grinding mill of the school classroom. Chose work that used his physical ability to the maximum rather than cramming school lessons. At the age of 16, Dhirubhai moved to Aden, Yemen. He worked there as a clerk for A. Besse Co. For two years. Later he was promoted to manage the companys oil filling station at the port of Aden, when A. Besse became the distributors for Shell. Ten years later, Dhirubhai returned to India and started a business Reliance Commercial Corporation with a capital of Rs. 15000.00. The primary business of Reliance Commercial Corporation was import polyester yarn and export spices. The business was setup in partnership with Chambaklal Damani, his second cousin who was also there with him in Aden. The first office of Reliance Commercial Corporation was set up in Narsinathan Street at Masjid Bunder. It was a 350 sq. Ft room with a telephone, one table and three chairs. Initially they had two assistants to help them in their business. In 1965, Chambaklal Damani and Dhirubhai Ambani ended their partnership and Dhirubhai started on his own. It is believed that both had different temperament and a different take on business. While Mr. Damani was a conscious trader and did not believe in building yarn inventories, Dhirubhai was a known risk taker and he considered that building inventories with anticipating a price rise and making some profit is good for growth. During this period, Dhirubhai and his family used to stay in a one bedroom apartment in Bhuleshwar. In 1968, he moved from the chawl to an upmarket apartment at Altamount Road, in South Mumbai. His first car was a premier Padmini. In 1970s he bought a white Cadillac car. Dhirubhai started his first textile mill in Naroda in the year 1966. Textiles were manufactured using polyester fibre yarn. Dhirubhai started the brand Vimal, named after his nephew. Extensive marketing of the brand in the interiors of India made Vimal a household name. Franchised retail outlets were started to sell only Vimal brand of textiles. In the year 1975, a technical team from the World Bank, visit this unit and certified it as excellent even by developed country standards. Banks and financial institutions repeatedly turned him down when he needed money the most. He was just not in the same league as other businessmen of his time. This made him an out of the box thinker. Dhirubhais first public offering of 28.2 lakh equity shares in the then Reliance Textiles in November 1977 was oversubscribed nearly seven times. The issue fetched him Rs 3 crore, a big sum by the standards of those days. Between 1979 and 1982, Reliance made four debenture issues. In 1979 it was for a worsted mill; in 1980, for modernising its textile mill; in 1981, to manufacture polyester filament yarn at Patalganga. In 1982, he topped it all with a record Rs 50-crore issue for expansion and diversification. Dhirubhai treated his shareholders like family members. Such royal treatment endeared him to his investors, says Kisan Ratilal Choksey, Chairman of KR Choksey Shares and Securities, a leading Mumbai brokerage firm. Dhirubhai understood the power of equity funding for his mega projects, says Devesh Kumar, Managing Director of Centrum Broking. In that sense, he was a visionary, way ahead of his times, and an out-of-the-box thinker, he adds. He always made sure that the investors got returns commensurate their investments. Marriages, businesses, studies abroad of the investors have been said to be financed by Reliance. He coined the term Mega Issue. His faith in retail investor also gave a leg up to BSE and its 30-share sensitive index, Sensex. Lured by Reliances power to deliver dividends and higher stock prices, thousands flocked to the market. Dhirubhai was a visionary, because he looked at the future a future he knew he may not even be around to enjoy. But that what propelled him and his stakeholder benefited from his search for a better future. In 1982 Ambani began the process of backward integration, setting up a plant to manufacture Polyester filament yarn. He subsequently diversified into chemicals, gas, petrochemicals, plastics, and power and telecom services. RIL bought IPCL from the government of India to become Indias largest petrochemical player.   After the launch of the refining arm of reliance, Reliance achieved a huge cashflow position and has never looked back. Mukesh Ambanis statement that RIL will be like a makoda where even if a few legs are hurt, the organism will be hale and hearty and not stop its march forward. Behind the Scenes Despite his affability, some of his old colleagues describe Dhirubhai as a dark character-not just because of the darkish skin he inherited from his father-but for the ambition and risk taking he hardly concealed. He exported spices, often at a loss, and used replenishment licenses to import rayon. Later, when rayon started to be manufactured in India, he exported rayon, again at a loss, and imported nylon. Ambani was always a step ahead of the competitors. With the imported items being heavily in demand, his profit margins were rarely under 300 percent In the 1950s the Yemini administration realized that their main unit of currency Rial was in disappearing. After investigating the matter it was realized that all Rials were routed to the Port City of Aden. There a young man in twenties was placing unlimited buy orders of Yemini Rials. During those days the Yemini Rial was a pure silver coin and was much in demand at the London Bullion Exchange. Young Dhirubhai would buy Rial, melt it in pure silver and sell it to bullion traders in London. Reliance expanded its equity base through frequent rights and bonus issues to shareholders, while financial institutions converted 20 per cent of their loans into equity in September 1979. But the use of convertible debentures catapulted Dhirubhai Ambani into the big league in the capital markets. Dhirubhai had anticipated the governments policy with regards to the convertible debentures and the Series I issue of partially convertible debentures by Reliance in October 1979 raised Rs 70 million. Although Reliance was not alone in trying the long disused instrument but from late 1980 the issues of partially convertible debentures coming from Reliance in quick succession, raising Rs 108 million in September from its Series 11 and Rs 240 million from its Series 111 the next year, and Rs 500 trillion from Series IV in April 1982. Dhirubhai capped that by obtaining from Sen Gupta clearance to do what should normally be legally impossible: converting the non-convertible portions of the four debenture issues into equity. This proved to be a master stroke. By this method, dubbed a brilliant and unconventional move by many, Dhirubhai-Reliance was able to chop Rs 735 million off its debt book in 1983, and turn it into comparatively modest equity of Rs 103 million, while reserves were raised by Rs 632 million. Instead of an annual interest bill of Rs 96.5 million on debentures, the dividend burden from the extra equity was only around Rs 36 million. This transmutation allowed Reliance to continue raising more quasi-debt, with its E Series of partially convertible debentures in October 1984 which raised another Rs 800 million. This reduced the debt equity ratio and further increased the attractiveness of the Reliance stock which was becoming an outperformer on the Indian Stock exchanges. Reliance always used to persuade the regulators with respect to its debenture issues. This did not mean that all its issues were approved without any hurdles. All questions being raised were not disposed of by Reliances policy of SALAM. On one occasion, the regulator rejected the premium that Reliance was seeking to put on an issue, on the ground that projected profitability had not been indicated. Without a pro-forma balance sheet for the current year-an extension of results to date-it could not be accepted. In 1982, Dhirubhai created waves in the stock markets when he took on a Kolkata-based cartel of bear operators that had sought to hammer down the share price of Reliance Industries. The cartel badly underestimated the Ambani ability to fight back. Not only did Dhirubhai manage to ensure the purchase of close to a million shares that the bear cartel offloaded, he demand physical delivery of shares. The bear cartel was rattled. In the process, the bourses were thrown into a state of turmoil and the Bombay Stock Exchange had to shut down for a couple of days before the crisis was resolved. After this incident many questions were raised by the press. People could not understand that how; a yarn trader till a few years ago was able to raise such a huge cash flow in the time of crisis. The answer stood in a story detailed how companies registered in the tax haven, Isle of Man, with ridiculous names like Crocodile Investments, Iota Investments and Fiasco Investments had purchased Reliance shares at one-fifth their market prices. Curiously, most of these firms were controlled by a clutch of non-resident Indians who had the same surname, Shah. Yet another article detailed how the group had been the beneficiary of a loan mela a number of banks had loaned funds to more than 50 firms that had all purchased debentures issued by Reliance Industries In 1993, Reliance was in the bidding for several oilfields in the Arabian Sea. The government oil search corporation had discovered the fields but did not have the funds to build the huge production rigs, gas compressors and pipelines that were needed. Several contacts among rival bidders were alleging that the tender was being rigged in favour of Reliance. Indian politicians and bureaucrats are masters at tilting an open and transparent tender into a one-horse race, by techniques such as keeping the weighting of bidding factors uncertain or secretly promising later concessions to compensate for underbidding. In the event, Reliance swept the field, and a director with one of the losers told me: We were shafted, and for the wrong reasons. Corporate Rivalry Reliance frequently, routinely, put any criticism or opposition to its actions down to motives of envy or a desire to pull down anyone achieving success. Throughout every crisis caused by exposure of alleged manipulations, its publicity took on a self-pitying Why is everyone always picking on us? tone. But the record tends to show that it was Dhirubhai and Reliance who often made the first move to put a spoke in a rivals wheels, whether it was Kapal Mehra of Orkay Silk Mills, Nusli Wadia of the Bombay Dyeing Group or, latterly, the Ruias of the Essar group. Coincidentally with disputes with Reliance, various rivals were hit with government inspections, tax problems, unfavourable press reports and physical attacks. The mid-eighties were a period during which the Reliance group got locked in a bitter turf battle with Bombay Dyeing headed by Nusli Wadia. The two corporate groups were producing competing products Reliance was manufacturing purified terephthalic acid (PTA) and Bombay Dye ing, di-methyl terephthalate (DMT). Wadia lost the battle and reportedly became the source of information for many of the articles against the Ambanis that subsequently appeared in  The Indian Express. In 1985, the Mumbai police accused a general manager in a Reliance group company of conspiring to kill Wadia, a charge that was never established in a court of law. Many years later, a newspaper owned by the Ambanis would accuse Wadia of illegally holding two passports and played up the fact that he was Mohammed Ali Jinnahs grandson. Year 1986 was a crucial one for Dhirubhai. He suffered a stroke in February that year. A few months later, the  Express  began publishing a series of articles attacking the Reliance group as well as the Indira Gandhi regime for favouring the Ambanis. These articles were co-authored by Arun Shourie who, ironically, later as Union Minister for Disinvestment in the Atal Behari Vajpayee government, presided over the sale of 26 per cent of the equity capital of the former public sector company, Indian Petrochemicals Corporation Limited (IPCL), to the Reliance group. By gaining managerial control over IPCL, the Reliance group would now be able to dominate the Indian market for a wide variety of petrochemical products. Ramnath Goenka, once a friend of Dhirubhai, and owner of The Indian Express was also considered to be close with Nusli Wadia. On many occasions, Ramnath Goenka tried to intervene between the two warring factions and bring an end to the enmity. As the days passed by The Indian Express carried a series of articles against Reliance Industries and Dhirubhai in which they claimed that Dhirubhai was using unfair trade practices to maximise the profits. As Reliance had a close relationship with The Indian Express, Ramnath Goenka did not use his staff at the Indian Express to investigate the case but assigned his close confidant, advisor and chartered accountant S. Gurumurthy for this task. Apart from S. Gurumurthy, another journalist Maneck Davar who was not on the rolls of Indian Express started contributing stories. The end to the tussle came only after Dhirubhai Ambani met with a stroke. While Dhirubhai Ambani was recovering in San Diego, his sons Mukesh Ambani and Anil Ambani managed the affairs. The Indian Express had turned the guns against Reliance and was directly blaming the government for not doing enough to penalise Reliance Industries. The battle between Wadia Goenka and Ambanis had become so big that it became a national crisis. It was not as if Indian politicians had not helped other industrialists in the past. However, the difference in the business-politics nexus at that time lay in the fact that by the time the Reliance groups fortunes were on the rise, the Indian economy had become more competitive. Thus, it was not enough for those in power to promote the interests of a particular business group. It became necessary to simultaneously put down the competition. Managing the Environment Dhirubhai, more than many of his fellow industrialists, understood and appreciated the importance of managing the environment, a euphemism for keeping politicians and bureaucrats happy. Ideas are no ones monopoly. Those who criticise me and Reliances growth are slaves to tradition, if not to outright conservatism and complacency; the criticisms were put down to jealousy. But the same Man also felt you have to sell your ideas to the government. Selling the idea is the most important thing, and for that Id meet anybody in the government. I am willing to salaam anyone. His willingness to salaam anyone and his cultivation of junior staff and newcomers had by the early 1980s created a huge network of friends in politics, government ministries and financial circles. Earlier, goodwill had been cemented by gifts of the famous suit-lengths of material. After the float of Reliance in 1977, Dhirubhai was able to allocate parcels of shares or debentures from the promoters quota of any issue, wit h a profit virtually guaranteed by the gap between issue and market prices or by the prospect of conversion. He made no secret of the fact that he did not have an ego when it came to paying obeisance before government officials be they of the rank of secretary to the Government of India or a lowly peon. It is hardly a secret that Dhirubhais support base would easily cut across political lines. Very few politicians have had the gumption to oppose the Ambanis, just as the overwhelming majority of journalists in the country preferred not to be critical of the Reliance group. The Indian media, most of the time, has chosen to lap up whatever has been doled out by the groups public relations executives. The bureaucracy too has, by and large, favoured the Ambanis, not merely on account of the fact that many  babus have got accustomed to receiving expensive hampers on the occasion of  diwali. Indira Gandhis return to power opened a golden period for Dhirubhai Ambani. In 1979, his company barely made it to the list of Indias 50 biggest companies, measured by annual sales, profits or assets. By 1984, Reliance was in the largest five. Dhirubhai himself had become one of the most talked and written about persons in India, gaining a personal following more like that of a sports or entertainment star than a businessman. It was also the period when Dhirubhai made the most rapid part of his transition, in the bitter words of a senior non-Congress politician in 1996, from supplicant-the most abject kind of supplicant-to influencer and then to controller of Indian politics. Dhirubhai A legend People close to Dhirubhai said that there were three Dhirubhai Ambanis. One was unique, larger than life, a brand name. He was one of the most talked about industrialists, and for Gujarati people he has tremendous emotional and sentimental appeal. He is their ultimate man, and has inspired many emulators. The second Dhirubhai Ambani is a schemer, a first-class liar, who regrets nothing and has no values in life. Then there is the third Dhirubhai Ambani, who has a more sophisticated political brain, a dreamer and a visionary, almost Napoleonic. People always getting the three personalities mistaken. Dhirubhai was one man who tried to look beyond the obvious, who dared to dream and dared to achieve his dream. He did not let anything stop him. No restriction was strong enough to stop Dhirubhai Ambani. Whether what Dhirubhai has been claimed to do, he actually did or not, there is certainly no denying the fact that there is no businessman in India who attracted as much adulations as he did. He was more than a legend in his lifetime. He successfully convinced 4 million middle class households to invest their hard earned savings in Reliance Industry Groups. He fondly referred to his shareholders as family members and conducted annual shareholder meetings in the atmosphere of large melas attended by hordes. Dhirubhai Ambani was different man to different people. To his millions of investors, who had seen their share prices multiply, he was a business messiah. To one writer, he was a Frankensteins Monster created by Indias experiments with close government control of the economy. The strictly controlled import licences given to registered exporters of textiles, allowing import of raw materials worth a certain percentage of their export earnings. Like many others, Dhirubhai realised that these import or replenishment licences (known as REPS) were as good as money, even though some of them were officially not transferrable and imports had to be made by the actual user of the materials. By paying higher margins than any other traders, Dhirubhai soon became the main player in the market for REP licences. The margins were tiny in the trade itself but his dominance also put him in the position of being able to turn on and off much of the supply of yarn into the Indian market. Conclusion Dhirubhai Ambani built his company through outstanding abilities and drive on many fronts: as an innovative financier, an inspiring manager of talent, an astute marketer of his products, and as a forward-looking industrialist. The energy and daring that showed itself in his early pranks, practical jokes and trading experiments developed into a boldness and willingness to live with risk that few if any other Indian corporate chiefs would dare to emulate. His extraordinary talent for sustaining relationships, and sometimes impressing men of standing, won him vital support from both governments and institutions. The dark side of his abilities was an eye for human weakness and a willingness to exploit it. This gained him preferential treatment or at least a blind eye from the whole gamut of Indian institutions at various times.

responsiblity of the media :: essays research papers

The Media  · an agency, means, or instrument to disseminate information  · defines our shared perceptions of the world, society, and politics  · selects what information is directed to us  · media presents views of an issue  · influences on media coverage o producers of the news o sources of the news o audience for the news Power and Responsibility of the Media  · investigate wrong doing  · publicize and explain government action  · evaluate programs and politicians  · bring matters to the public attention that might otherwise by hidden by government  · reconcile campaign promises with government action  · media shapes our perceptions of the government through reporting Media rests upon the First Amendment  · "Congress shall make no law abridging the freedom of the press." o instrumental to a free society o if people are given full information of their affairs they will exercise sound judgment (Jefferson)  · American media may openly oppose the government o Near v. Minnesota (1931) extended free press to states  § "complexity of government and opportunity for corruption increases the need for a vigilant press" Organization of the Media  · local orientation o learn about what is around us  · nationalization of the news o same sets of events, presented in a similar way  § wire services supply local newspapers with national and international stories  § cost effective  § every newspaper can not have a media corespondent in Beijing  · network news o national program carried by local affiliates o national newspapers (elite papers influence the influential people)  · national nagazines (Time, Newsweek, US News) o very similar in coverage o middle of the road  · nationalization of media contributed to the nationalization of politics Impact of Private Ownership of Media  · profit motivated o attract large, diverse audiences o programming appeals to certain advertisers o subscribers are consumers of advertising Preferences of Mass Media  · entertainment  · personalized stories about familiar people  · short, simple stories Distates of Public  · political stories  · repetition Media Regulation  · broadcast media is regulated by the Federal Communications Commission (FCC) o electromagnetic spectrum is publicly owned and it should benefit all  · equal time rule o broadcasters must provide candidates for the same office an equal opportunity to buy commercial time  · right of rebuttal - individuals must be given time to respond to personal attacks o Red Lion Broadcasting Company v. FCC  § upheld right of rebuttal  § allowed a liberal author an opportunity to respond to an attack by a conservative  § "the views expressed in the program are not necessarily those of the producers of the program"  · fairness doctrine o broadcasters were required to air programs with opposing views o made obsolete in 1985 by FCC o diversity of media presented different views

Suggest reasons why the memberships of trade blocs, such as the EU, has changed over time

Memberships of trade blocs changed over time because countries realized that there are a huge amount of benefits to joining a trade bloc union. Benefits such as Free trade within the bloc which means that they have free access to each other’s markets, members of the trade bloc are encouraged to specialize. This means that at the regional level there is a wider application on ability to carry out a particular economic activity e. g. making a specific product more efficiently than another activity.In addition countries have Market access and trade creation which is when countries have easier access to each other's markets meaning that trade between members is likely to increase. Trade creation exists when free trade enables high cost domestic producers to be replaced by low cost and also allow more efficient imports. Because low cost imports lead to lower priced imports, there is a ‘consumption effect', with increased demand resulting from lower prices.Also Producers from the member country can benefit from the application of scale economies, which will lead to lower costs and lower prices for consumers. Jobs may be created as a consequence of increased trade between member economies. There is increased protection. Firms inside the bloc are protected from cheaper imports from outside, such as the protection of the EU shoe industry from cheap imports from China and Vietnam. There are other long-term political and social benefits to trade blocs.The countries’ economies become more intertwined also the political reasons for close cooperation within the bloc increases. Countries understand that they have a stake in each other and make greater efforts to get along. In that same way, increased business contacts usually mean that people must learn the culture of their trading partners. Many must learn new languages and different business practices. In short, more people will come into contact with each other and will need to learn more about each oth er. This breeds increased understanding amongst people.Another reason for the change is as for consumers are that there is often a greater variety of goods and services available in free trade blocs. Products like beer, detergent, clothing, and machine tools are often produced in all the countries after the free trade agreement they are often stocked in many stores. Products like satellite hook ups for televisions, computers and telephones are usually made more available to developing countries. Internet service providers are now able to sell to larger markets and more consumers have opportunities to purchase or use these services.

Financial Management in Multinational Organizations and would need to describes how multinational organizations use the financial management practices, The WritePass Journal

Financial Management in Multinational Organizations and would need to describes how multinational organizations use the financial management practices, Introduction Financial Management in Multinational Organizations and would need to describes how multinational organizations use the financial management practices, ). International finance. Harlow, England: Pearson. Carbaugh, R. (2008). International economics. Mason, OH: South-Western Cengage Learning Eiteman, D., Stonehill, A. and Moffett, M. (2007). Multinational business finance. Boston [Mass.]: Pearson. Fabozzi, F., Jones, F. and Modigliani, F. (2009). Foundations of financial markets and institutions. Boston, Mass. [u.a.]: Pearson. Henisz, W. J. (1998). The institutional environment for international investment. Berkeley: Hass School of Business, University of California (Doctoral dissertation). Henisz, W. J., Zelner, B. A. (2001). The institutional environment for telecommunications investment. Journal of Economics Management Strategy, 10(1): 123–147. Hillier, D., Ross, S. and Westerfield, R. (2010). Corporate finance. London: McGraw-Hill/Higher Education. Holburn, G. L. F., Zelner, B. A. (2010). Political capabilities, policy risk, and international investment strategy: Evidence from the global electric power generation industry. Strategic Management Journal, 3: 1290–1315. Jimenez, A. (2010). Does political risk affect the scope of expansion abroad? Evidence from Spanish MNEs. International Business Review, 19(6): 619–633. Jimenez, A. (2011). Political risk as a determinant of Southern European FDI in neighbouring developing countries. Emerging Markets Finance and Trade, 47(4): 59–74. Lawton, T., Rajwani, T. (2011). Designing lobbying capabilities: Managerial choices in unpredictable environments. European Business Review, 23(2): 167–189. Lawton, T., Rajwani, T., Doh, J. (2013). The antecedents of political capabilities: A study of ownership, cross-border activity and organization at legacy airlines in a deregulatory context. International Business Review, 22: 228–242. Madura, J. (2007). International financial management. Mason, Ohio: Thomson / South-Western. Oliver, C., Holzinger, I. (2008). The effectiveness of strategic political management: A dynamic capabilities framework. Academy of Management Review, 33(2): 496–520. Shapiro, A. (2006). Foundations of multinational financial management. Hoboken, NJ: Wiley. Watson, D. and Head, A. (2006). Corporate finance. Harlow: Financial Times Prentice Hall.

New Zealand and hoe it may prosper.

New Zealand and hoe it may prosper. Free Online Research Papers In considering the proposition that national economic prosperity is directly linked to public sector RD investment, two separate issues must be addressed. Firstly, is investment in RD a material driver of national prosperity, and secondly, is prosperity best served by RD investment being publically or privately funded? This paper will discuss both these issues, and will argue that while it is imperative investment in RD in New Zealand is growing; increased investment by the NZ government is important, but not necessarily imperative. Historically, prosperity has been defined as a state of economic growth, with rising incomes and high employment levels. Simply, social well-being is enhanced by economic growth. More recently, prosperity has been defined to include advancement in a number of areas, including economic fundamentals, entrepreneurship, democracy, education, health, safety, freedom and social capital (The Legatum Prosperity Index, 2009). In considering all of these factors, it is evident that long run economic growth on its own does not necessarily deliver prosperity, and furthermore, a nation’s prosperity could well increase with improvements in other factors, excluding economic growth. While this may be the case for nations where economic prosperity far outweighs social prosperity, in the case of New Zealand, long run economic growth will continue to be a major driver of prosperity (ref). New Zealand presently ranks tenth on the Legatum Prosperity Index, an index which ranks countries based on all of the factors which are encompassed in prosperity’s modern definition. Considering each of the individual sub-indexes, a clear pattern emerges. While New Zealand ranks highly in social areas such as democracy, freedom and social capital, it sadly lacks in economic fundamentals, with a ranking of just 27th (The Legatum Prosperity Index, 2009). This appears largely due to New Zealand’s less than optimal export performance, and high reliance on natural resources and the industries which consume them, together with a relatively slow growth in national productivity. This can be improved though economic diversification and growth, adding value to existing output, improving overall productivity (economic output per unit of labour and capital employed). Investment in RD is a major factor in building the human and physical capital needed to drive economic growth. The value of physical and human capital can either be directly increased through investment, or indirectly increased through investment in RD, which drives improvements in technology. As resources are scarce, maximum economic growth can only be achieved through efficient allocation of resources in a way which will provide maximum benefits. According to Tassey, author of the economics of RD policy, economic studies have shown that technology is the single most important factor in increasing economic growth, generating marginal social benefits which greatly exceed that of investment in other areas. This is because, in addition to creating new market opportunities, technology is essential in quality and productivity improvements, the drivers of sustained increases in wages and profits. These increased in wages and profits are in turn the drivers for savings and investment, wh ich drive continued economic growth (Tassey, 2010). Over the past few decades, investment in RD in New Zealand, by both private and public sectors has constantly been lower than that of other developed nations. According to the ministerial report on the OECD innovation strategy, New Zealand’s investment in RD accounts for a mere 1% of GDP, under half of that of the average investment for OECD countries, which ranges from 2 to 5.4% (OECD Innovation Strategy, 2010). Consequently, New Zealand’s economic growth has also lagged behind the OECD average. Considering the clear correlation between economic growth and national levels of RD spend, this would suggest that investment in RD in New Zealand should increase, in order to catch up with the rest of the world. What is not evident from the basic statistics is whether and to what extent the value of RD investment is a matter of quality or quantity. The fact that New Zealand’s investment in RD is relatively low compared with its international peers does not in itself prove that investment in RD needs to grow. As described earlier, investment in RD is only one form of investment, and to claim that RD is the key to our future prosperity may be overstating its importance relative to these other forms. Furthermore, investment in RD which does not result value creation may actually reduce overall productivity. Economic growth requires the efficient allocation of resources, to achieve the best possible outcome. The fact that RD in New Zealand is underrepresented in our national accounts may simply be due to a difference in nature of our economy, making our investment in physical or human capital more efficient relative to other economies. The statistics however do not support this argument. According to Winsley, overall investment in RD produces a risk adjusted marginal social rate of return ranging between 50-70%, almost twice that of physical capital and three times that of human capital, which directly attests to the conclusion that increased investment in RD would be an efficient use of resources (Winsley, 1996). The fact that New Zealand’s economy is much smaller than that of other OECD countries could provide an explanation of why investment in RD is underrepresented, and may also provide an argument that increased investment in RD is not required. Investment in RD is highly influenced by economies of scale, meaning it is much more efficient and cost effective when undertaken on a large scale (Rowe, 2005). This could mean that New Zealand’s underinvestment in RD is warranted, based on the fact that it would be inefficient due its scale. As the benefits of RD are not entirely limited to the country in which they are produced, New Zealand could â€Å"piggyback† off the RD of larger nations, leaving resources to be invested in other areas. This argument falls short however in that prosperity as a country requires a rate of increase relative to other nations, and simply ‘piggybacking’ off ideas and developments will only cause New Zealand to fall behind. Even if a policy of ‘piggybacking’ was adopted, it could be likely New Zealand needs to increase investment in RD regardless, as a means adapting other countries RD investment (Tassey, 2010). Based on these arguments, it can reasonably be established that in order for New Zealand to prosper, investment in RD needs to grow, firstly to meet that of other developed nations, and eventually to outpace them. Whether or not investment in RD needs to increase however, is only half the issue. What is more important is who is best placed to fund and perform RD functions in New Zealand. Simply suggesting that the government should throw more tax payers money into RD, would be largely understating the complexity of this issue, and as such, the rest of this paper will be dedicated to addressing where this funding should come from. Presently, investment in RD in New Zealand is largely publicly funded, with public funding accounting for 51% of RD, much higher than the OECD average of 30% (OECD Innovation Strategy, 2010). As well as this, direct public funding, rather than indirect, accounts for nearly 100% of all public RD expenditure. The reason for this mix in funding is that rather than being an entirely private or entirely public good, the classification of RD as an investment is largely mixed. This is due to the broadness of scope of RD as an investment, which encompasses all forms of research such as basic science and research into generic and proprietary technologies, and all forms of development from conceptualisation to commercialisation. It is well accepted that the development of basic scientific knowledge is a public good function, and is therefore primarily the responsibility of the government. It is not so clear whether the development to commercialisation of knowledge and technology into assets fo r economic activity should be a public sector responsibility, or driven by the private sector (Tassey, 2010) In considering New Zealand’s underinvestment in RD, increased government funding may at first glance appear to be an obvious solution. This would be based on the premise that RD will increase long run growth, it is currently underrepresented, and therefore it is something the government should be investing in. New Zealand’s economy is about the same size as an average SP company. Therefore it could make intuitive sense that the central government replaces private sector funds in RD, as pooling resources would allow for a more substantial research base. In addition, the government’s access to taxation revenue is more mobile than private funding for investment, allowing it to easily and quickly be redistributed (Jacobsen, 1991). While this solution may have merit, for scale reasons the real issue is not the volume of spending, rather it is the value of spending. While there is clear evidence that increased investment in RD will increase long run economic growth, a ll other factors held constant, the real factor that needs to be considered is whether or not the government will make the most efficient use of resources. As stated earlier, many studies have shown that investment increases long run economic growth, however whether or not direct public investment increases economic growth is an entirely different matter. Frank Lichtenberg, who conducted an extensive investigation into RD investment, and its relation to international productivity differences, found that while privately funded investment has significant positive effects on productivity, the effects of public investment was insignificantly different from zero, or in some cases negative (Lichtenberg, 1992). This points to the conclusion that the government, as an investor, is unable to make efficient use of the resources which it extracts from the economy. This inefficient use of resources can be explained by a number of factors, most import of which is that government expenditure essentially has little to no accountability, other than the party in power being accountable to voters. This leads policy and spending to focus on politically po pular funding options, rather than those which are economically efficient. Therefore, in order for New Zealand to prosper, it would seem that the required increase in investment in RD would need to be met by private industry. In theory private funding for RD, will drive resources to be allocated efficiently. In the market, price and profit act as a language that communicates the wants of consumers to those who produce goods. Economic agents respond to changing relative price signals, and their response to this language of price shifts resources to their highest value in use, thus achieving efficiency. In contrast public spending tends to be characterised by resources being allocated on the basis popular public policy, often providing what the market will not pay for. Private business which at times will have the existence of their business at stake, will tend to pursue RD with a high probability of commercial return or avoid altogether higher risk programs with very uncertain payback. Private sector RD has very strong commercial drivers to be successful, increasing productivity and profitability, in turn creating wealth and prosperity (Tassey, 2010). But if the market acts to correctly allocate resources, then why is investment in RD so underrepresented, considering marginal rates of return are so high? The theory that the market will effectively allocate resources is based on the premise that all the characteristics of a well functioning market are upheld, such as perfect information, zero barriers to entry, and most importantly, the non-existence of externalities or â€Å"spill over† effects (Cellini, Lambertini, 2008). The underinvestment in RD can be described by the failure to meet these requirements. Market failure results from a dysfunction in the private sectors capabilities for assessing the economic potential of an RD project i.e. imperfect information, and a limited pool of high risk capital. Technical risk is often too high, meaning risk cannot be reliably estimated, time to completion is often outside the strategic scope of management. Co-ordination problems also exist, as the nature of evolving markets requires investment in combinations of technologies. Significant positive externalities or â€Å"spill over† effects are prominent in the RD industry. Thes e externalities are often unable to be internalised to the producer, meaning the full potential benefit of RD is often not rewarded to the producer (Jacobsen, 1991). The existence of market failure is an important justification for government intervention. As market failure results in a sub-optimal level of RD investment, public policy is required to address this issue. This does not necessarily mean however that government’s direct investment must increase (although this may well be the case) rather it means that the causes of market failure need to be identified, and properly addressed through effective measures (Jacobsen, 1991). Therefore in order to increase investment in RD, the government should properly consider the causes of underlying underinvestment, and formulate appropriate cost effective policies which encourage investment to occur. This conceptualisation leads to a policy view that the government’s role is best served funding scientific research in universities and crown-owned research institutes. While it is theoretically possible to break down certain aspects of RD into purely private and public good, the boundaries of these aspects are often too vague to be effectively established in practice (Tassey, 2010). It is this mixed nature of RD’s classification as a good which causes this funding conundrum, as, if RD was purely a private good, private funding would be most efficient and vice-versa. To stimulate and facilitate private investment, it is likely that direct government funding will have to increase, not because government funded RD stimulates growth, but because it may required to facilitate and increase private investment. While government funded RD may itself be relatively unproductive, any spending which stimulates private investment, will provide significant benefits for New Zealand, by facilitating increases in productivity, and with this, economic growth. Rather than simply pouring money into politically popular areas of RD, the government can use resources effectively by increasing funding in New Zealand’s generic technology base, and investing in technology infrastructure which supports domestic industries. An example of this would be increased funding to scientific research in universities. Broad-based underinvestment in RD could be reduced by sufficiently lowering the cost of RD, through indirect funding such as tax credits. This would partly addre ss the loss of reward caused by positive externalities, somewhat correcting market failure. In conclusion, in order for New Zealand to prosper, it is likely, but not imperative that the government’s investment in RD should grow. While overall prosperity encompasses many factors other than economic growth, it cannot be achieved without it. Efficient investment into physical, human and technological capital is a pre-requisite. New Zealand is currently underinvesting in RD, an area which has been shown to produce significant marginal social benefit. What is imperative is that effective policy is established to facilitate private investment. Public investment, where required, should be targeted specifically in areas which act to strengthen New Zealand’s fundamental research base, such as research universities and generic technologies. Increased investment in RD is essential for long run growth, and if private investment is able to be significantly increased, it will become a lasting foundation of greater prosperity. Wordcount: 2498 References Cellini, R., Lambertini, L. (2008). Th Economics of Innovation. Bingly, UK: Emerald Group Publishing Limited. Jacobsen, V. (1991). Contestable Funding: A New Deal for Research and Development in New Zealand. Australia: The Centre for Independent Studies Limited. Lichtenberg, F. (1992). RD Investment and International Productivity Differences. NBER Working Paper 4161, 1, 2 6. OECD Innovation Strategy. (n.d.). Organisation for Economic Development . Retrieved January 10, 1010, from oecd.org/pages/0,3417,en_41462537_41454856_1_1_1_1_1,00.html Rowe, J. (2005). Economic Development In New Zealand (The Dynamics of Economic Space). Hampshire, England: Ashgate Publishing. Tassey, G. (1997). The Economics of RD Policy. Westport: Quorum Books. The 2009 Legatum Prosperity Index. (n.d.). The 2009 Legatum Prosperity Index. Retrieved October 5, 2010, from prosperity.com/rankings.aspx Winsley, P. (1996). Discussion paper no 4. research and development as a socially efficient investment, 1, 8 12. Research Papers on New Zealand and hoe it may prosper.PETSTEL analysis of IndiaInfluences of Socio-Economic Status of Married MalesAssess the importance of Nationalism 1815-1850 EuropeIncorporating Risk and Uncertainty Factor in CapitalAnalysis of Ebay Expanding into AsiaDefinition of Export QuotasTwilight of the UAWRiordan Manufacturing Production PlanAppeasement Policy Towards the Outbreak of World War 2Research Process Part One