Hatian Revolution Essay Example | Topics and Well Written Essays - 1250 words

Hatian Revolution - Essay Example The army had fought great wars against the armies of Britain, Spain and France, defeating them all in a span of thirteen years. Like the American independence war and the French revolution several decades earlier, Haiti revolution had its basis on the principal of self-rule and termination of cruelty from white masters. The American war of independence was against subjugation by colonialists, with proponents claiming that no country was superior to the other. The principal concern was lack of representation in governments while the Americans were paying taxes to their German and Britain colonists, a practice that amounted to subjugation of their rights. The French revolution on the other hand was an extension of the self-rule principle from nation state relations to the domestic spheres. Their basic tenet was that all citizens in a state were superior to the state itself and that no man was superior to the other. Whereas these two revolutions form the basis for freedom fights, they b oth centred on rights and freedoms of white men only and did not extent to non-whites or to women. Ironically, the Haiti revolution was against slavery and misrule by French and American among other white countries including Spain and Britain. With large farmlands and other economic activities in their colonies, white rulers mistreated local residents and black slaves whom they forced to work under very demeaning conditions (Sara 45). Once a free independent nation, the urge to avenge against the French colonialists drove the new government under the rule of Dessalines to order a total elimination of all white French settlers on the island under the pretext that they posed security risk to the young nation. This venture spared Americans and other foreigners, but led to extermination of thousands of white Frenchmen, women and children. The extend of Dessalines’s ire towards former French settlers surfaced in his â€Å"liberty or death† proclamation where he described wh ite Frenchmen as insatiate blood suckers who had fattened themselves with the hard toils of Haitians. Dessalines destroyed a considerable size of the island’s population in unleashing revenge on the remaining white French settlers. Population estimates indicate that a third to half of the population had died or fled the island over the thirteen years of war while over a hundred thousand were permanently disabled (Sara 33). The revolution period also saw sugarcane plantations, mills, and irrigation works destroyed, burned out or abandoned. The large standing army also kept productive men out of the fields. Dessalines declaration that no Haitian soldier could work on the fields left the fields short of close to forty thousand productive workers. Further, after thirteen years of fighting, the habit of hard work had diminished among the Haitian population. Women who had previously worked as slaves on the field continued to fill that role after independence, contributing essential ly the bulk of Haiti’s productivity, since they constituted over two thirds of the population (Leyburn 77). They however too abandoned this form of manual labour, taking up small scale trading instead. Without devoted and willing labourers on the fields, Haiti’s productivity took a serious dip down the drain. It is estimated that between 1789 and 1801 sugarcane production declined by 80%, while coffee production declined to 30% compared to production before the revolution begun. With this kind of decline in major economic production sectors, the viability of the nation and its economic future were in great peril. Realising the need to improve the island’

Cause & Effect Essay over Crisis in America's Social Security System

Cause & Effect over Crisis in America's Social Security System - Essay Example The situation facing the social security is pretty clear. It has enough income to last for about thirty years, and it does not seem that it will be running out anytime soon. The program was created to provide benefits to the retired and old age people, and the benefits were said to rise with the growing increase in wages of the people. The fact that the economy is producing more than enough funds to offer an increasing standard of living for the future generations, while also honoring its commitment to the Social Security, comes as a shock to some people. As a matter of fact, the only threat that the social security is facing is from the politicians who are trying to ‘alter’ the system and bring drastic changes by faking a crisis. (The introduction to The changes that Bush wanted to bring would have actually put the Social Security System in crisis. His privatization plan would have half ruled half of the Social Security funds into private accounts. This would have made the Social Security dependent on the Trust Funds, which would have emptied the Trust Funds twenty years sooner, and as a result payments to the people would have reduced by seventy percent. This would have created a real crisis. The Social Security Trust Fund has been in operation for about seventy years. There was a much worse crisis in 1983. The Trust Fund was about to drain then, but the problem as brought under control, and it worked for over fifty years. The Social Security system has been altered a few times, to keep it stable. Even if the government just sits idle and does nothing, then the Trust Fund is said to run out in 2035. But even then the Social Security would not be broke. So the so called crisis said to have occurred, is not much of a threat. The Social Security is well established and is said to run effectively for the next many years. If it is threatened by anything, it is the ‘reforms’ of the politicians and their attacks on then system. Their

Impact and Implications of International Trade Agreements

Impact and Implications of International Trade Agreements It also requires from its signatories to extend most-favoured-nation (MFN) status to other trading partners participating in the WTO. MFN status means that each WTO member receives the same tariff treatment for its goods in foreign markets as that extended to the â€Å"most-favoured† country competing in the same market, and in consequence eliminating any possible preferences or discriminatory activities. In 1995 the GATT became the World Trade Organization (WTO), which now encompasses more than 140 member countries, oversees four important international trade agreements: the GATT, the General Agreement on Trade in Services (GATS), and agreement on trade-related intellectual property rights and trade-related investment, which are called respectively TRIPS and TRIMS. Furthermore, GATT permits the formation of free trade areas and customs unions among WTO members. Free trade areas are characterized by elimination of all of tariffs on trade with each of the member countries, with simultaneously remaining autonomous in terms of determining their tariffs with non-members. One of the examples for such an area is included in the objectives of European Free Trade Association (EFTA), which is composed primarily of Scandinavian countries. A customs union constitutes a group of countries that eliminate all tariffs on trade among themselves but maintain a common external tariff on trade with countries outside the union. A good example of a formation of a customs union was the European Economic Community (EC) that came into force with the Treaty of Rome signed in 1957 by France, Germany, Italy and the Benelux. The Treaty provided for the establishment of a common market, a customs union and common policies[1]. Nowadays it is known as the European Union (EU), it includes twenty-seven European countries and it has gone beyond simply reducing barriers to trade among member states and forming a customs union. EU has achieved its greater economic integration by becoming a common market, which coordinates and harmonizes each country’s tax, industrial and agricultural policies. Many members have also formed a single currency area by replacing their domestic currencies with the euro. Nevertheless, many trade agreements not including duty reduction schemes are later on completed with the objective to arrange an FTA in the future. In cases of agreements including non WTO members, it is usually specified in the agreement that MFN rates will (continue to) be applied. Among many agreements without duty reduction schemes we can enumerate, for instance, the already mentioned Bilateral Investment Agreement (BIT), which set forth actionable standards of conduct that applies to the nation’s government in their treatment of foreign investors, including i.a. fair and equitable treatment, protection from expropriation and free transfer of means with full protection and security[2]. The amount of signed BIT’s has been constantly increasing, since 1990s from 446 signed agreements to over 2500 active BITs in 2007, according to United Nations Conference on Trade and Development (UNCTAD)[3]. To other agreements without duty reduction schemes we can include Foreign In vestment and Protection Agreements (FIPA), Economic Partnership Agreement (EPA), Trade and Investment Framework Agreement (TIFA), Economic Framework Agreement, or Partnership Cooperation Agreement. The growing trend of signing international trade agreements is irreversible in any region of the globe, and is becoming a dominant factor influencing immensely all of the international economic relations nowadays. The more of them are signed, the more urgent the need to assess their actual impact. Thus, it is crucial to correctly evaluate the potential impact of the agreements, especially during theirs negotiation phase. In the recent years there has been a large demand for impact assessment studies of trade agreements, both before and after negotiations. Conducting solid studies concerning their impact is considered to be particularly important for developing countries, because they need to adjust their policies in a way to diminish or completely avoid the possible negative effects and maximize potential benefits. Nevertheless, accurate impact assessment methodology it is not easy from the technical point of view, mainly because of the lack of economic theories which specialize in d eveloping countries. Thus, due to insufficient appropriate knowledge and support, it is difficult for the governments of developing countries to conduct a relevant policy from the economic studies[4]. Furthermore, in conducting an impact assessment analysis of the International Trade agreements it is important to be able to evaluate all of the potential gains, difficulties and implications. Economic theory since the middle of the 18th century has implied numerous advantages in lowering tariffs for most parties in most situations, and economists view the commitment to trade liberalisation as a welfare-maximizing pursuit. The main gain from trade was considered to derive from specialization on the basis of comparative advantage. Income is considered to be growing more rapidly in countries open to international trade than in those more closed to trade. This phenomenon is dramatically illustrated in China’s rapid growth after 1978, and India’s after 1991. These dates indicating when major trade reforms took place in those countries[5]. However we have to keep in mind, that although trade liberalisation in the form of international trade agreements may contribute to the overall national welfare, it is also responsible for disruptive consequences within societies by producing losers and gainers, such as import-competing industries and consumers respectively. Besides economic gains and losses, trade agreements also provide important political outcomes to the parties involved, as a consequence of facilitated international cooperation, institutionalized rules of reciprocity, monitoring and enforcement. It is especially important in terms of conducting impact assessment analyses of trade agreements for developing countries as I have previously written, for which they constitute an important institutional context within which they can build up their coalitions and improve their bargaining position in the global market. Moreover, developing countries prefer more defined rules and greater enforcement capacity. The main reason for this is the fear of marginalization or peripherality, namely the inability of developing countries to take advantage of trade liberalisation and emerging as full players in the international system[6]. Due to their international as well as domestic weaknesses, usually caused by their colonial past, these countries are more of the rule-takers rather than agenda-setters. As an illustration, countries like Brazil and India despite taking part in many negotiations they have repeatedly complained about their concerns being disregarded. The same applies to smaller d eveloping countries which have found it difficult to even take part in key decision making meetings. In addition, there even exist a phenomenon called â€Å"Third World Schizophrenia†, which was used by Mohammed Ayoob in his article â€Å"The Third World in the System of States: Acute Schizophrenia or Growing Pains?†[7] It illustrates the behaviour of developing countries trying to bring about systemic changes and aiming at adjusting to an international order, but as a result of their vulnerabilities and their past they also have the incentive to preserve the existing system of rules that ensures their very survival. As a consequence of these two pressures, decision-making centres of these countries are faced with conflicting demands, and thus this situation is referred to either as schizophrenic, or similar to the growing pains of adolescence. International trade agreements and the liberalisation process that follows them, besides being economically beneficial, it is also very often politically feasible. Due to the fact that some countries are legally binded by multilateral trade organizations and agreements, their lack of commitment may have punitive consequences of various types, depending on the nature of the agreement and its enforcement mechanism. Thus, governments tend to hide behind the possible consequences of lack of obedience that could range from the international disapproval to compensation of all the costs incurred as a result of this country’s actions. By claiming that their international commitments bind them to act freely, they are able to justify especially unpopular actions that are supposed to have longer-term benefits, and not solely in trade manners. This is why many of the programmes of economic and restructuralization reforms from the 1980s and 1990s, in particular those involving both controv ersial and possible distributive consequences for the society, were hidden in the shadow of international economic agreements and organizations[8]. Thus, it comes as no surprise that historically, countries have been reluctant to reduce trade barriers and enthusiastic to raise them, even though the classical trade theory states that gains from trade accrue to any country that lowers their trade barriers, irrespectively of what other countries do. Despite this promise of economic benefits coming from free trade, many states have chosen the path of protectionism throughout history. An example can be found in the case of the Great Depression period, when following the stock market crash of 1929, the US Congress adopted the Smoot Hawley Tariff Act in 1930 that raised US tariffs to an average of nearly 60% interest[9]. Explanation of this behaviour comes from the economic theory and the notion of â€Å"optimal tariff†, which tells us that it may be in the interest of a large economy to restrict trade at a certain â€Å"optimal† level, as it will be a change of the terms of trade in its favour. This obviously does not apply to small economies, for which liberalisation of trade or lack of it may bring different results, conditioned by many economic, political and social factors. For large economies this situation looks different, thus the optimal tariff may appear as a good solution to some of them. However, is it really an efficient one? The interpretation of this problem in terms of the game theory would imply that even though it is in each country’s interest to impose restrictions, the outcome of such action might be inefficient, especially in the long-term calculation. Once one large country will impose restrictions, the other might as well follow this behaviour, which would result in the overall decrease of global market efficiency and economic welfare. Thus, the best way of preventing such a mutually destructive situation from happening is by ensuring mutual reciprocity in trade commitments, which increases the economic gains as well as the output. In any case, mutual reciprocity being a foundation for most of the concluded trade agreements all over the world does not always guarantee their success. Multilateral trade agreements and organisations, such as the WTO, have been accused of inefficiency due to the problem with maintaining and extending the liberal world trading system, slow pace of trade liberalisation negotiations, and inadequate requirements for consensus among the members, which immensely limits the possible scope of reform of trade agreements. Moreover, some sectors such as trade in agriculture, textiles and apparel have not experienced any significant cuts in tariffs, and thus they had much less success, especially in comparison with, for instance, industrial goods. According to UNCTAD data, non duty-free trade still faces an average tariff of about 7% in manufacturing and about 18% in agriculture. All these arguments have raised many concerns, and in consequence many countries have turned away from the multilateral process toward more preferential agreements such as bilateral, or regional ones. An example of such an agreement is the North American Free Trade Agreement (NAFTA), which went into effect in January 1994. Under its terms United States, Canada and Mexico collectively agreed to phase out all tariffs on merchandise trade and to reduce restrictions on service trade as well as foreign investment over a decade[10]. Besides that there exist numerous trade agreements between particular countries, or group of countries, and their number is constantly increasing. It has been particularly observed in terms of Preferential Trade Agreements (PTAs). As of early 2014, there were more than 300 PTAs in force, about half of which also covered services. In 2013, almost half of world trade was taking place between countries that had signed a PTA and almost a third was regulated by deep trade agreements[11]. This increase in PTAs is mostly attributed to the greater promotion of trade among the parties that are signing a PTA, but it is also a good alternative for countries when multilateral negotiations run into difficulties. Moreover, it contributes to the emergence of â€Å"competitive liberalisation†, wherein countries are challenged to reduce trade barriers to keep up with the rest of the world. For instance, after NAFTA was signed and implemented, the EU aimed at signing an FTA with Mexico, in order to ensure that European goods would not be at a competitive disadvantage in the Mexican market. On the other hand, there are still many disadvantages associated with PTAs, such as discriminatory exclusion of certain countries, or the inability to reform certain issues, such as agricultural export subsidies on the bilateral or regional level[12]. Predominantly, it appears that international trade is increasingly more regulated and influenced by policies and instruments reaching beyond tariffs. As of 2013, technical measures and requirements coming from free trade liberalization and international trade agreements regulated about two-thirds of the world trade[13]. Both multilateral and preferential agreements will remain the future of the global economy, shaping its flows and regulating the distribution of wealth. There will always be pressures to include more standards and regulations, and there will always be those that argue that such agreements serve the interests of multinational corporations and not regular citizens. Nevertheless, keeping in mind that free trade contributes to the transfer of technology and knowledge, which is especially important for the developing countries in terms of improved economic welfare, we can not simply despise this concept without accurately evaluating all of its losses and gains. Internation al trade agreements do provide us with a greater measure of certainty in international relations, and they do provide developing countries with one of the few safeguards that they have against the powerful high-income countries. However, it is safe to say that they will continue to generate controversy, and there will always be an intense public discussion surrounding them, and the impact they make. [1] Europa, Summaries of EU legislation. Available from: http://europa.eu/legislation_summaries/institutional_affairs/treaties/treaties_eec_en.htm>. [6 January 2015]. [2] Legal Information Institute, Bilateral investment treaty. Available from: http://www.law.cornell.edu/wex/bilateral_investment_treaty>. [6 January 2015]. [3] United Nations Conference on Trade and Development, Quantitative data on bilateral investment treaties and double taxation treaties. Available from: http://unctad.org/en/Pages/DIAE/International Investment Agreements (IIA)/Quantitative-data-on-bilateral-investment-treaties-and-double-taxation-treaties.aspx>. [6 January 2015]. [4] Plummer M. G., Cheong D., Hamanaka S., ‘Methodology for Impact Assessment of Free Trade Agreements’, Asian Development Bank 2010, pp. 7-9. [5] Library of Economics and Liberty, International Trade Agreements. Available from: http://www.econlib.org/library/Enc/InternationalTradeAgreements.html>. [6 January 2015]. [6] Narlikar A., ‘The World Trade Organization: A Very Short Introduction’, Oxford University Press Inc., New York 2005, pp. 7-8. [7] Ayoob M. ‘The Third World in the System of States: Acute Schizophrenia or Growing Pains?’, International Studies Quarterly, vol. 33, no. 1, 1989, pp. 67-79. [8] Narlikar A., ‘The World Trade Organization: A Very Short Introduction’, Oxford University Press Inc., New York 2005, pp. 6-7. [9] Narlikar A., ‘The World Trade Organization: A Very Short Introduction’, Oxford University Press Inc., New York 2005, pp. 3-7. [10] Library of Economics and Liberty, International Trade Agreements. Available from: http://www.econlib.org/library/Enc/InternationalTradeAgreements.html>. [6 January 2015]. [11] ‘Key Statistics and Trends in Trade Policy 2014’, Trade Analysis Branch (TAB), Division on International Trade in Goods and Services, and Commodities (DITC), UNCTAD Secretariat, pp. 10-11. [12] Library of Economics and Liberty, International Trade Agreements. Available from: http://www.econlib.org/library/Enc/InternationalTradeAgreements.html>. [6 January 2015]. [13] ‘Key Statistics and Trends in Trade Policy 2014’, Trade Analysis Branch (TAB), Division on International Trade in Goods and Services, and Commodities (DITC), UNCTAD Secretariat, pp. 10-11.

NAFTA and Mexico Essay -- essays research papers fc

Mexico’s economy is undergoing a stunning transformation. Seven years after the launch of the North American Free Trade Agreement, it is fast becoming an industrial power. Free trade with the U.S. and Canada is turning the country from a mere assembler of cheap, low-quality goods into a reliable exporter of sophisticated products from auto breaks to laptops computers. Although Mexico has seen economic growth lately, it still faces tremendous problems in the aftermath of the 1995 recession and the revolution that took place in the Chiapas which still wages on today. The purpose of this paper is to explore the effects that NAFTA has had on the economy and it’s people during the implementation of NAFTA and in what NAFTA will bring in the future. The North American Free Trade Agreement was designed to open borders and promote free trade between three countries: Canada, the United States and Mexico. Signed in 1992, ratified by the U.S. Congress in November 1993 and implemented January 1, 1994, NAFTA reduced some tariffs immediately while others are scheduled to fall to zero over a 15-year period. NAFTA follows the prescription of liberalization- including the deregulation of government restrictions to allow increased trade, direct foreign investment, and foreign ownership of businesses.   Ã‚  Ã‚  Ã‚  Ã‚  On January 1, 1994, a Mexico still sleepy from New Year’s celebrations awoke to discover a passionate new revolution sweeping across the state of Chiapas. The Zapatistas, a small, yet powerfully forceful group of indigenous people, exhausted from centuries of oppression, poverty and corruption, rose up to end this societal injustice, and most specifically, to battle the new tyrant that would be born that very day: The North American Free Trade Agreement. This revolt was viewed by the indigenous population of Chiapas as an essential act to stop the debilitating cycle of injustice and to prevent future harm to the Mexican people by opposing NAFTA. â€Å"The Zapatistas have pulled back the curtain that covered up the other Mexico. It is not the Mexico of eager entrepreneurs lined up to open Pizza Hut franchises or consumers eager to shop at Wal-Mart, but rather the Mexico of malnourished children, illiteracy, landlessness, poor roads, lack of health clinics, and life as a permanent struggle.† (Quoted in Russell, p. 1)   Ã‚  Ã‚  Ã‚  Ã‚  NAFTA was ... ...nmental Issues Under the NAFTA. Canadian – American Committee. Toronto: 1993. Marinez, Elizabeth and Arnoldo Garica. (No Date). What is â€Å"Neo Liberalism†? [Online]. Avaible:   Ã‚  Ã‚  Ã‚  Ã‚  http://www.corpwatch.org/trac/corner/glob/neolib.html (June 27-29, 1997). NAFTA’s Failure to Deliver [Online]. Available:   Ã‚  Ã‚  Ã‚  Ã‚  http://www/coha.org/pressr/naftapr/html Nelan, Bruce W. (April 4, 1994). Days of Trauma and Fear [Online]. Available:   Ã‚  Ã‚  Ã‚  Ã‚  http://www.time.com/time/magazine/archieves/1994/940404/940404.mexico.html Perlo, Vicotr. (March 4, 1995). The Rape of Mexico [Online]. Available:   Ã‚  Ã‚  Ã‚  Ã‚  http://www.hartford-hwp.com/archives/46/031.html â€Å"The President, the peso, the market and those Indians.† The Economist 24 Dec 1994: 43. Russell, Philip. The Chiapas Rebellion. Mexico Resource Center. Austin: 1995 Shadows of Tender Fury: The Letters and Communiques of Subcomandante Marcos and the Zapatista Army of National Liberation. Monthy Review Press. New York: 1995 Wise, Carol. â€Å"The Post-NAFTA Political Economy.† Mexico and the Western Hemisphere. Pennsylvania State University Press: September 1998.

Comprehensive Analysis on the Indian Tire Market

Comprehensive Analysis on the Indian Tire Market Bharatbook. com announces a new report on â€Å"India Tire Market Outlook, 2018† which gives the latest trends and major companies are present in the tire market in India. India Tire Market Outlook, 2018 The market value of India tire market is projected to at grow at CAGR of 18% during the period 2013-2018. This would make the total worth of tire market to reach at US $ 22. 38 Billion by the end of 2018. The passenger vehicle tire segment will continue its dominance while commercial vehicle tire segment would increase steadily and exemplifies good growth in future.MRF is the market leader in terms of revenue share followed by Apollo & JK tyres. BKT is the leader in OTR segment and leads the export market of India. More than 90% of BKT tyre are export across the 120 countries. http://www. bharatbook. com/automotive-components-market-research-reports/india-tire-market-outlook-2018. html India Tire Market Outlook, 2018 is a comple te analysis of the Tire industry in India. The past data for both the passenger and commercial vehicle tire segments is included in this report while the forecast up to 2018 has been done by each segment and sub-segments.The share of different region and the different companies as well as the latest trends which are making an impact on the market have been complied in this report. We have also profiled major companies which are present in the different segments of tire market in India. Grootte Exclusive -Past Years Data: Market Size (Sales Volume and Revenue) -Market Segmentation: On the Basis of Companies’ Share & Regional Sales -Demand Forecast For Next Five Years -Complete Coverage Of Regulatory Framework Covered Extensive Distribution Channel -Profile of Major Tire Manufacturers -Latest Trends -Critical Success Factors -Analysis Of Raw Material Utilised In Tire -Production -Industry Risk Scorecard Key chapters of the report : 1. Report Synopsis 2. Global Tire Market Overv iew 2. 1. Market Value 2. 2. Market Volume 2. 3. Market Segmentation by Companies 2. 4. Market Segmentation by Region 2. 5. Market Segmentation by Category 2. 6. Global Replacement Tire Overview 3. India Tire Market Overview 3. 1.India Tire Production   †¦Ã¢â‚¬ ¦ For more information kindly visit : http://www. bharatbook. com/automotive-components-market-research-reports/india-tire-market-outlook-2018. html Or Contact us at : Bharat Book Bureau Tel: +91 22 27810772 / 27810773 Toll Free No for USA/Canada : 1-866-279-8368 Email: [email  protected] com Website: www. bharatbook. com Follow us on twitter: https://twitter. com/researchbook Follow us on linkedin : http://www. linkedin. com/company/bharat-book-bureau   Our Blog : http://blog. bharatbook. com/ ire,automotive,Market Research Reports,market forecast Bharat Book Bureau, the leading market research information aggregator provides market research reports, company profiles, country reports, newsletters, and online datab ases for the past twenty four years to corporate, consulting firms, academic institutions, government departments, agencies etc. , globally, including India. Our market research reports help global companies to know different market before starting up business / expanding in different countries across the world.

Siva

As an MBA student you need to study Managerial Economics which is concerned with decisionmaking by managers. As you all are aware that the main Job of managers is decision making only. Before making a decision one has to take into accounts so many things. And here comes theimportance of managerial economics. Meaning of Economics: Economics can be called as social science dealing with economics problem and man's economic behavior. It deals with economic behavior of man in society in respect of consumption, production;distribution etc. conomics can be called as an unending science.There are almost as many definitions of economy as there are economists. We know that definition of subject is to be expected but at this stage it is more useful to set out few examples of the sort of issueswhich concerns professional economists. Example: For e. g. most of us want to lead an exciting life i. e. life full of excitements, adventures etc. butunluckily we do not always have the resources necessar y to do everything we want to do. Thereforechoices have to be made or in the words of economists individuals have to decide—–â€Å"how toallocate scarce resources in the most effective ways†.For this a body of economic principles and concepts has been developed to explain how people andalso business react in this situation. Economics provide optimum utilization of scarce resources to achieve the desired result. It providesthe basis for decision making. Economics can be studied under two heads:l) Micro Economics2) Macro EconomicsMicro Economics: It has been defined as that branch where the unit of study is an individual, firm or household. Itstudies how individual ake their choices about what to produce, how to produce, and for whom to produce, and what price to charge.It is also known as the price theory is the main source of conceptsand analytical tools for managerial decision making. Various micro-economic concepts such as demand, supply, elasticity of demand and supply, marginalcost, various market forms, etc. are of great significance to managerial economics. 1 Macro Economics: It's not only individuals and forms who are faced with having to make choices. Governments facemany such problems. For e. g. How much to spend on healthHow uch to spend on servicesHow much should go in to providing social security benefits.This is the same type of problem facing all of us in our daily lives but in different scales. lt studies the economics as a whole. It is aggregative in character and takes the entire economic as aunit of study. Macro economics helps in the area of forecasting. It includes National Income,aggregate consumption, investments, employment etc. Meaning of managerial economics: It is another branch in the science of economics. Sometimes it is interchangeably used with businesseconomics. Managerial economic is concerned with decision making at the level of firm.It has beendescribed as an economics applied to decision economic theory a nd managerial practices. lt is defined as application of economic theory and methodology to decision making process by themanagement of the business firms. In it economic theories and concepts are used to solve practical business problem. It lies on the borderline of economic and management. It helps in decision makingunder uncertainty and improves effectiveness of the organization. The basic purpose of managerial economic is to show how economic nalysis can be used informulating business plans.Definitions of managerial economics: In the words of Mc Nair and Merriam,† Managerial Economics consists of use of economic modes of thought to analyze business situation†. According to Spencer and Seigelman†Ã¢â‚¬ it is defined as the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by themanagement†. Economic provides optimum utilization of scarce resource to achieve the desired result.

Hospitals Aim to Keep Older Nurses on the Job by Increasing Safety

Hospitals Aim to Keep Older Nurses on the Job by Increasing Safety Safety Measures for the Ageing Labor Force The present paper discusses the article that appeared in the February 2016 issue of Business Insurance under the name â€Å"Hospitals Aim to Keep Older Nurses on the Job by Increasing Safety.† The article describes a new safety measure that was introduced at the Californian hospital system Scripps Health.Advertising We will write a custom critical writing sample on Hospitals Aim to Keep Older Nurses on the Job by Increasing Safety specifically for you for only $16.05 $11/page Learn More Since 30% of the Scripps’ employees are 50 years or older, the company would like to provide a comfortable working environment for these employees to continue working and share their expertise with the new generations. Scripps introduced two new teams: the lift teams, who take the burden of physical labor off the nurses, and the workplace empowerment teams, who evaluate current practices to improve safety. At my organiz ation, since it is also a hospital, this safety measure would both introduce a new practice and revise an established procedure. In the case of physical labor, there is a shift of duties from the nurses to the team that is specifically designed to carry out such tasks as lifting and moving the patients. On the other hand, the introduction of the workplace empowerment teams is an entirely new practice. Typically, employee safety standards and regulations are dictated by external bodies such as the government and its agencies. In the present case, however, my company will actively seek employee feedback on process design and safety-related issues. Introducing such measures will benefit my organization for the same reasons as mentioned in the article. Older employees naturally tend to have more experience in their field, and their presence in the workplace is essential for the knowledge exchange between different generations. It is thus important to recognize and address their needs, a nd generally, it is necessary for companies, including mine, to continuously improve their practices and processes so as to ensure safety. However, there are certain challenges associated with the implementation of this initiative at my organization. First of all, the introduction of the workplace empowerment teams will require additional financial resources as the company will need to hire more people to replace those employees who are no longer engaged in their primary duties because they are busy evaluating workplace procedures. To create the lift teams, my organization needs to either create a new position or review its current job requirements to include physical fitness. Such measures may not be favored by the company’s management and stakeholders if they do not perceive the expected benefits from these new expenditures. Moreover, such changes may be met with resistance by the employees themselves, especially the older ones who may disagree with being viewed as weak or physically unfit.Advertising Looking for critical writing on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More With any changes, it is always important to evaluate their impact and benefits. In the present case, several indicators can be used for assessment. It is, first of all, the number of injuries that occur in the workplace as a result of physical labor, as well as the description of the workers that received the injury, especially their age. My company needs to make sure to collect such data before and after the implementation of the new practice. Similarly, to evaluate the efficiency of the workplace empowerment teams, the company needs to track the changes suggested by the teams – whether they were accepted and implemented, what the impact of such changes is, and so on. Since it may take a while for the employees to get used to these changes, the evaluation should probably take place within a year afte r their implementation. Addressing Fatigue in the Workplace The present paper reviews the policy proposal described in the article entitled â€Å"Keeping Workers Alert and Patients Safe† that appeared in the Hospitals and Health Networks Magazine in February 2012. The article reviews the report issued by the Joint Commission, a non-profit health care accreditation organization in the United States. The Joint Commission calls for health care providers to evaluate employee fatigue-related risks, such as consecutive and night shifts, so as to ensure that these factors do not undermine the patients’ safety. Hospitals are encouraged to proactively seek employees’ input regarding the issue of workplace fatigue and design evidence-based fatigue management plans. To target the employee fatigue-related issues, my company can introduce a new policy that specifies the number of consecutive night shifts that an employee can work, as well as introduce an extended break durin g the employee’s night shift so that they can take a nap. Certainly, employee fatigue presents not only a problem but also a danger in the workplace, because the quality of work and decision-making significantly declines when people are tired. While this issue is important for all industries, it is especially dangerous in the health care sector since its employees have a direct impact on other people’s health and even lives. Thus, introducing such a policy would help my organization improve efficiency and productivity, as well as eliminate any mistakes and errors that result from employee fatigue. At the same time, I expect to encounter several implementation challenges if I am to propose such a policy at my organization. It will, first of all, reflect on the structure of the employee’s shift, meaning that they will be unavailable for a certain period. Even though different employees can take turns during their shift, somebody will need to cover for the employee that is taking a break at all times. Perhaps, the organization may need to hire an extra person to do this job.Advertising We will write a custom critical writing sample on Hospitals Aim to Keep Older Nurses on the Job by Increasing Safety specifically for you for only $16.05 $11/page Learn More Consequently, this policy introduces a new expense to the company’s budget. While one may think that employees will be happy to receive a break, I anticipate that they will meet this policy with resistance. Most likely, such a policy would cause employees to spend more time in their workplace because of the break, and many of them would prefer to go home sooner and take a break there. The management is likely to resist this change because the employees would still need to be remunerated for their break, even though they are not working. To evaluate the effectiveness of this policy, I would consider the following indicators. First of all, I think it is import ant to survey the employees before and after the implementation of the policy to see whether it improved their well-being. Secondly, the organization should collect data on other relevant indicators, for instance, the number of incidents that occur in the workplace that can be attributed to such causes as employee fatigue, lack of concentration, and other similar problems. Apart from that, the hospital can review the complaints that come from the patients. The HR department is best positioned to collect and analyze such data. Since fatigue can accumulate over time, the organization should not conduct the assessment right away. Rather, it should wait for about half a year since the policy is likely to have been fully adopted by then.