Explain and discuss the golden rule of accumulation and assess the Essay

Explain and discuss the golden rule of accumulation and assess the implications for macroeconomic policy - Essay Example All such factors are considering by policy makers while implementing macroeconomic policies for the country. The savings investment behavior of the economy can be captured through neoclassical economics including the golden rule of accumulation. The golden rule is adopted to move towards optimum consumption. The golden rule determines the desired level of savings since under this level all profits are saved and then reinvested (Baumgartner and Meredith, 1995, p.6). Thus the current paper tends to discuss the golden rule of accumulation and its implications for macroeconomic policies. The production function of a country depicts how the country utilizes the available resources and inputs for producing output. Land, labor, capital and organization are termed as factors of production. We mainly use capital (K) and labor (L) as the two factors. It is given as, Equally important as production is the concept of consumption which is the difference between income and savings. The consumption function depicts the relation between consumption and disposable income (Consumption Function). It is given as, Attainment of steady state means that an economy has gained stability. A country has attained steady state either due to increase or decrease in growth. It occurs when production rates or the country’s investment equals depreciation. Such a phenomenon is shown in the diagram below: B B depreciation (ÃŽ ´k) Here it is seen that under the steady state output labor ratio becomes stagnant as investment becomes equal to depreciation at point A. production function determines the output- labor ratio at point B. Away from A the economy is converging towards steady state. Under the steady state the government requires to choose that level of

The Types Of Conflicts

The Types Of Conflicts Conflict and negotiation have been a serious matter for organization. As individuals have different thinking or way of doing things different from others, conflict may occur among them. So we will identify those types of conflict happening between individuals in the workplace. Then we will explain the different variety of organization conflict levels. After that we will explain Thomas-Kilmann Model used for conflict issues based on assertiveness and cooperativeness and then discuss the negotiation approaches used when parties are negotiating in something. Another part of the work will be taking about culture and then explain Scheins iceberg model of culture and Handy four dimensions of organizational culture. The last episode will explain about Kurt Lewins three steps of change theory. Introduction Conflict is a normal and natural part of our workplaces and lives. As people with diverse background come together in a working environment, differences in opinion, attitudes and beliefs. However conflict does not submit itself to a single and widely accepted definition, different peoples have given different definitions. Dougherty and Pfaltzgraff( 1971:139) defined the concept as: A Condition in which one identifiable group of human beings is engaged in conscious opposition to one or more other identifiable human groups because the groups are pursing what are or appear to be incompatible goals (Dougherty, 1971). Dougherty and Pfaltzgraffs definition clearly points to the fact that conflict arises out of interaction between and among people. Mc Shane and Olekalns also defined conflict as a process in which one party perceives that its interests are being opposed or negatively affected by another party (Mc Shane Tony, 2010). Types of conflicts: Since all individual have different mindset, it is quite possible that there may be arguments or differences of opinion according certain issues. This take place most often in workplaces. Generally there are many types of conflict but the majority of them are found in places of work because most of our time is spend there. In our situation we will focus on just three types of conflict which is task conflict, relationship conflict and process conflict. Task conflict- task conflict are conflict that happen within a group or team, this type of conflict is focused around the task at hand. It arises when the group members have different viewpoints, opinions and ideas. Example: in a workplace, differences of opinion between the members of a project team on how to market a new product. Relationship conflict- Relationship conflict concerns interpersonal animosities and tensions among individuals themselves rather than the task, it occur because of the presence of strong negative emotions, poor communication or miscommunication. This type of conflict happens every day in our life it is difficult to avoid it. Example: Process conflict: Levels of Conflict: As we have seen, organization conflict can take place at a variety of levels. By far, conflict occurs at various social levels and may include intrapersonal, interpersonal, intergroup and interorganizational level of conflict. Intrapersonal Conflict occurs between the individual and may involve some form of goal, cognitive or affective conflict. Intrapersonal conflict is unique among the types of conflict, it is the sort of conflict that happens whenever an individual behave. This type of conflict is also known as psychic conflict. It occurs when an organizational is required to perform certain task and role that do not match his or her expertise, interests, goals and values. An example of interpersonal conflict is when an individual is attracted to two desirable goals but cannot pursue both. Interpersonal Conflict involves two or more individuals who believe that their attitudes, behavior or preferred goals are in opposition. This type of conflict between individ uals is a concern for managers because it happens all the time between individuals in the same or different department or even different organizations. An example is conflict that occurs between two different hierarchical levels or units members in the same organization such as superiors and subordinators. Intergroup Conflict refers conflict between groups of individual such as members of different teams, department or groups. The group may be very large such as notions or much smaller social group such engineers or the production managers in a manufactory facility. Interorganizational conflict involve disputes between two or more organizations as a result of interdependence on membership and divisional or system wide success. An example is the competition against two different businesses to one another. Conflict Mode: Thomas-Killmann Model. Conflict arise when people have different views on a subject, the Thomas-Killmann Model can be useful because it focuses on the individual style used most often in conflict issues, this conflict model is based on an access of assertiveness and cooperativeness. The elements of this model are followed: Avoiding, Accommodating, Competing, Compromising and Collaborating. Lets start by the first one Avoiding people using this type think that they evade the conflict entirely, this style is typified by delegating controversial decisions, accepting wrong decisions, and not wanting to hurt anyones feelings. However in many situations this is a weak and ineffective approach to take. The next one is Accommodating, this style indicates a willingness to meet the needs of others at the expense of the persons own needs. The person using this style often knows when to give in to others, but can be persuaded to surrender a position even when it is not warranted. This person is not assertive but is highly cooperative. Accommodation is appropriate when the issues matter more to the other party, when peace is more valuable than winning. After accommodating we tend to Competing, strongly assertive and not inclined to cooperation. This is a power oriented approach, competing is appropriate when quick decisive actions is needed or when an unpopular but necessary course must be followed. This style can be useful when there is an emergency and a decision needs to be make fast. Another style is Compromising, this an intermediate style in both assertiveness and cooperativeness, individuals who prefer a compromising style try to find solution of the problems that will at least partially satisfy everyone. Each person is expected to give up something and the compromiser also expects to abandon something. This approach lead leads to expedient and acceptable outcomes that fall short of ideal but which both parties are willing to accept. The last one is Co llaborating, this is where people try to work together like as they say two heads are better than one. Assertive and cooperative, this involves working with the other party to find a mutual agreeable solution. A collaborator will not be shy to express his or her views. This style is useful when you need to bring together a variety of viewpoints to get the best solution when the situation is too important for a simple trade-off. Below is how the diagram of Thomas-Kilmann model is presented based on assertiveness and cooperativeness. Negotiation Approaches: one distinctive type of conflict management is negotiation, where people engage in give and take discussions and consider various alternatives to reach a joint decision that is acceptable to both parties. Some conflicts require confrontation and negotiation between the parties. The strategy to negotiate requires skill on the part of the negotiator and careful planning before proceeding in negotiation. This process of negotiating involves an open discussion of problem solution. There are two (2) major negotiation approaches which are distributive and integrative. Distributive negotiation is considered the traditional model for handling negotiation. It is an approach in which the goals of one party are in direct conflict with the goals of the other party. In distributive negotiation each party attempts to get as much as they can. One side wants to win which means the other side must lose. With this win-lose approach, distributive negotiation is competitive and a dversarial rather than collaborative and does not lead to positive long term relationship. An example, when negotiating for a used car, if the buyer feels that he got a good deal for the car, he won. But if he walks away feeling that he paid too much for it, he lost. On the other hand, Integrative negotiation is based on a win-win theory, in that all parties want to come up with a creative solution that can benefit both sides. With integrative negotiation, conflicts are managed through cooperation and compromise, which leads trust and positive long term relationship between the parties. Ideally, no one should loose in an integrative negotiation because the parties will sit together to analyze the solution of the problem so that each party will benefit from it and build a strong relationship. Example a trade union negotiating with the employers asking an increase in 2.5% of wages every year with bonus on every Christmas or they would go for strike. The employers suggested 1.5% increa se in wages for every two years and 2 hours of work per day bonus will be given. Therefore, the suggestion is advantageous by both parties. Workers benefit good wages and bonus by only giving an extra two hours. The companys work process will be increased that can tend to an increase in sales and profit. So, with integrative negotiation, both parties won. Organizational Culture: According to Ross, culture is a Particular practices and values common to a population living in a given setting. Schein states that the manifestation of organizational culture occurs at three levels: Artifacts, Beliefs or Values and Attitudes and Basic Assumptions. This model provides a useful approach to analyze the cultural construct based on the degree to which the cultural phenomenon is visible to the observer. Artifacts are the most visible aspects of culture, including language, clothing, manners, food, etc. they represent the physical construct of the organization and its social environment. Organizational artifacts include visible phenomena such as: technology and products, language, rites and rituals, uniforms, myths, organizational stories, symbols and ceremonies. Artifacts are easily visible. The second level of Scheins Iceberg Model of culture Beliefs, Values and Attitudes are those values of cultural group which are not visible, but conscious to the members of the group. Schein argues that the artifacts that we can observe are manifestations of the values that constitute part of the organizational culture. The third is Basic Assumptions; these are invisible and unconscious beliefs, perceptions, thoughts and feelings shared by members of a common culture. These basic assumptions grow from the continuous use of a problem solution that has frequently been successful in the past. This is also a challenge for managers because it is quite a challenge to change something that you cannot see, but what is certain is that basic assumptions profoundly influence a persons actions. Below shows Scheins Iceberg Model of Culture. untitled.bmp Handys four dimension of organizational cultures: Cultures are classified into four major types, Handy described the four of them. Power culture: Handy illustrates the power culture as a spiders web, with the all-important spider sitting in the centre. Typically found in small organizations, everything turns around the main person, all decision taken is made by them and they preserve absolute authority in whatever situation. The success of power culture depends on the capabilities of the focal person. Organizations with this type of culture can respond quickly to events, but they are heavily dependent for their continued success on the abilities of the people at the centre; succession is a critical issue. Role culture: The role culture can be illustrated as a building supported by columns and beams: each column and beam has a specific role to playing keeping up the building. This type of culture is based on the existence of procedures and rule frameworks. The hierarchy and bureaucracy dominate this type of organization. Position is the main power source in the role culture as well as rules and procedures are the chief methods of influence. It finds it difficult to adapt to change; it is usually slow to perceive the need for it and to respond appropriately. Task Culture: Task culture is job-or project-oriented, and its accompanying structure can be best represented as a net. This type culture uses a small team approach, where people are highly skilled and specialized in their own area of expertise. Tendency to change to a role or power culture when resources are limited or when the whole organization is unsuccessful. The expertise within this type of organization is vested in the individual within it and it is them who must be organized in way that it meets the needs of the business. Person Culture: Person culture is an unusual culture in which individuals believe themselves superior to the organization. Clearly, not many organizations can exist with this sort of culture, or produce it, since organizations tend to have some form of corporate objective over and above the personal objectives of those who comprise them. Change Management: Change Theory: Kurt Lewin(1890-1947) wan an American social psychologist who contribute much to the understanding of group dynamics. His model state that changing an organization requires that we shake it out of its equilibrium, effect changes while it is unstable and then allow it to settle into the new, desired equilibriumà ¢Ã¢â€š ¬Ã‚ ¦. He proposed a three stage theory of change commonly reffered to as unfreezing, change and refreezing. Kurt Lewins Model: Lewins model has influenced many later theory of change management. It describes the way in which many managers plan both strategic and operational change. The three levels are: unfreezing, change and refreezing. Unfreezing involve group discussions in which individuals experience others views and begin to adapt their own. Unfreezing means that destabilizing the present balance of forces that gives the organization or business its stability. He argued that this destabilizing process helps to overcome resistance to change. Change involves moving the unbalanced system in the desire direction. It has sometimes been applied more strictly than the intended. Refreezing is the final step of Lewins three step model, which refers of integrating the change into the organization and resuming the organization actions to regain its equilibrium. Conclusion Recommendation: Conflict happens everywhere. Conflict and negotiation are aspects of operating a business. Business owners face conflict with partners, managers, employees and the general public. Negotiation is often necessary to create an amicable solution for all parties involved in the conflict. Many small or home-based businesses avoid internal conflict and negotiation because owners are primarily responsible for completing business functions. However, external conflict and negotiation occur for most companies in the business environment.

The Discovery of Paralititan Stomeri - A Giant Sauropod Essay -- Anthr

The Discovery of Paralititan Stomeri - A Giant Sauropod In the scientific article â€Å"A giant sauropod dinosaur from an upper Cretaceous mangrove deposit in Egypt,† by Joshua Smith, Matthew Lamanna, Kenneth Lacovara, and Peter Dodson it is indicated that a giant sauropod named Paralititan Stomeri was discovered in a desert area in western Egypt in 2001. The skeleton was dated back to ninety to one hundred million years ago, which is the late Cretaceous period. Paralititan is a sauropod, which is thought to be the second largest that has ever lived. A partial skeleton of this enormous sauropod was found. What was found is seen when the authors write, â€Å"The specimen consists largely of vertebrae, pectoral girdle, and forelimb elements† (Dodson, Lacovara, Lamanna, and Smith). The largest bone found was a 1.69 meter long humerus, which is an upper arm bone. This was the first find in the area since 1935. The area where the bones were found is called Egypt’s Bahariya Oasis. The last time this site was explored was when a German, named Ernst Stromer, found four smaller dinosaur species. Stromer believed that the fossils he found came from a period in the Upper Cretaceous around ninety three to ninety nine million years ago. Included in stromer’s findings were fish, turtles, plesiosaurs, squamates, crocodyliforms, and four dinosaurs: the theropods Spinosaurus, Carcharodontosaurus, and Bahariasaurus, and the sauropod Aegyptosaurus (Dodson, Lacovara, Lamanna, and Smith). Unfortunately most of these fossils were destroyed in 1944 when the Allied forces bombed Munich during World War II. The period around ninety to one hundred million years ago is characterized by a very small variation in temperature between the north and south ... ... in that area. The discovery of the Paralititan supports the theory that the two continents were attached through the late Cretaceous, because it is closely related to the Argentinosaurus. This discovery is exciting because it is another very large sauropod and, because it helps support the theory that Africa and South America were still connected through the late Cretaceous period. Bibliography Dodson, Peter, Kenneth Lacovara, Matthew Lamanna, and Joshua Smith. â€Å"A giant sauropod dinosaur from an Upper Creataceous mangrove deposit in Egypt†. Science. Washington: June1, 2001. Vo. 292, Iss. 5522. Roach, John. â€Å"’Tidal Giant’ Roamed Coastal Swamps of Ancient Africa†. National Geographic News. 2001. http://news.nationalgeographic.com/news/2001/05/0 531-tidaldinosaur.html

America’s Present Judicial Structure

America’s judicial system is one of the most well known all over the world. In many countries, people of the state are not given as much opportunity to seek legal redress, or defend one’s self. In the United States, accusers and defendants alike are given the same rights in court regardless of their social standing. I can say that Americans are living with such a great privilege to be able to live with a judicial system and constitution that uphold the inherent rights of every citizen.However, I believe that anything that is created good has the tendency or potential to digress from its original purpose, and as time goes by, may deteriorate or become corrupted. The Founding Fathers have set a constitution that would be the basis for judicial proceedings in the land. They are honest, trustworthy and honorable men. They envisioned a state that upholds the truth and executes justice. But as the generations continue to pass by, there is no guarantee that every judge in the Federal and State courts will have the same integrity as the ones who framed the laws in the past.Thus, the first weakness that I can see in America’s judicial structure is that, if corruption penetrates it, the very laws that uphold the dignity of every human being will be left to the interpretation and disposal of the men who are corrupt. Various literature and entertainment media has portrayed this exact problem of the judicial system. For example, the 1996 movie entitled â€Å"City Hall†, (starring Al Pacino and John Cusack) portrays the high possibility of corruption in the judiciary.In the movie, a judge in the highest court of New York participates in the manipulation of the law, and instead of convicting a guilty man, let him go and hid the documents considered as evidence. As the story unfolds, it became clear that the city mayor was the one who influenced the judge to do the act because it is in the best interest of some wealthy businessmen who helped the may or with his political career. Although this is a fictional story, I can say that there is always fire under the smoke. In real American life, politics has a major impact on the judiciary.If the above statement is true, then there really is a possibility that the executive branch can influence the decisions of the judiciary by applying political pressure. So much has been said about the separation and independence of the branches of government from each other, but in some cases (especially high profile cases and those that stir political interests), the judiciary is highly vulnerable to the influence of the political world. I believe the current judicial structure has not exceeded its constitutional powers, but it is more powerful than what the framers of the constitution originally intended.For example, the Federal court is known as the guardian of the constitution. It is within its power to interpret the law written in the past, and apply it to present day circumstances. Thus, the people who interpret the law are more powerful than the law itself. Although members of the judiciary system are working within the limits and bounds set by the constitution, the constitution itself gives them the power to interpret and execute the law. This means that with the enormous power in their hands, it is easy to neglect true justice by using legal technicalities.Interpretation of the law is a rather difficult task because the constitution is vague and ambiguous in many ways. Some law scholars believe that the Constitution purposely remains vague in order to be timeless and applicable to all circumstances. Some believe that the constitution should be followed literally and word for word, and if there are vague areas in it, should be changed or amended to be more precise. This ambiguity in the constitution makes way for the neglect of true justice because each trial lawyer interprets the law in a manner that suits his client’s advantage.Because of the vagueness of the constitution, the courtroom often becomes more of a battleground of who is the better lawyer, than a battleground between right and wrong. For example, a person accused of trampling animal rights by offering sheep and goats as sacrifices, may also be acquitted on the grounds of the freedom of religion. The final verdict, however, will depend on who is the better lawyer, more skilled at applying legal technicalities, and more skilled at interpreting the law in a way that suits the taste of the jury.This basic problem of the American justice system was portrayed in another film entitled, â€Å"The Devil’s Advocate†, where a young lawyer has never lost a single case in his entire life, even though his clients are obviously guilty. There is no other way to solve this judicial problem than to amend the constitution itself. In my opinion, there is no need to change the laws that are written by the constitution framers of old. However, modern applications to the said laws sh ould constantly be added to suit the changing needs of society and modern life.Lessening the ambiguity of the constitution will make way for fairer decisions in the court and ensure that guilty men are punished and the innocent are rewarded with freedom. Needless to say, judges must maintain a high standard of integrity to avoid corruption within the judicial system. Corruption can bring down even the strongest of judicial systems. It did once, for the Roman government. In essence, it is still the American people and not the judiciary who has the power to issue a final verdict. Our jury system was created to ensure that courtroom decisions are impartial, and that the citizens of the nation still have the final say.Jurors are chosen from different walks of life and given the responsibility and duty of executing justice. This is a reflection of true democracy and I believe it is one of the major strengths of the American judicial system. Bibliography: City Hall. Dir. Harold Becker. Pe rf. Al Pacino, John Cusack, Bridget Fonda, Danny Aiello, and David Paymer. 1996. DVD. Touchstone, 2001 MegaEssays. com. â€Å"Federal and State Court Structures and Jurisdiction†. 1 October 2007. The Devil’s Advocate. Dir. Taylor Hackford. Perf. Keanu Reeves, Al Pacino and Charlize Theron. Warner Brothers Pictures, 1997.

Bentham’s Act Utilitarianism can be used in making

Explain how Bentham's Act Utilitarianism can be used in making moral decisions BY AltceReid20 Jeremy Bentham was a philosopher, economist, atheist and social reformer. Being a social reformer means that Bentham worked to make a gradual change to society. Being an economist meant that he had knowledge in the social science and discipline of economics. Bentham was a philosopher because he studied ways of thinking about the world. This all had an impact on the way his ideas were influenced. He developed the theory known as Act Utilitarianism.His version of Utilitarianism is referred to as Act' Utilitarianism because it states that the principle of utility should be applied to every act performed in each unique situation. Any act is Justifiable if it produces ‘the greatest amount of happiness for the greatest number'. By the principle of utility Bentham meant the ‘usefulness' of a situation. The principle states that we should aim to achieve ‘the greatest happiness for the greatest number'. Act Utilitarianism depends on each action or each individual dilemma being calculated.According to Act Utilitarianism it is the value of the consequences of the particular act that counts. In 1789 he wrote the book ‘An Introduction to the principle of morals and legislation' He believed our main aim in life was to achieve ‘happiness' and to avoid ‘pain', he wanted to introduce this to society to maximise the amount of happiness produced in certain situations. His theory was made to drive a human being; pain v pleasure. As people are motivated by pleasure and pain is considered evil. As stated in his book: ‘Nature has placed mankind under the governance of to sovereign masters, pain and pleasure'.Jeremy Bentham's theory is considered as relativistic; this means that here are no universal norms or rules and that each situation has to be looked at independently because each situation is different. It is also thought of as a teleological the ory. This means that it is concerned with the end purpose or goal of an action in this case it should always be happiness. Bentham's theory was also considered to be consequentialist; this means that moral decisions should be based on the outcome or consequences of an action. Bentham felt that society needed a form of structure for making moral decisions influencing him to introduce ActUtilitarianism to help treat each moral decision as unique. He was very concerned with the social conditions of his day, becoming particularly involved with both hospitals and prisons. He also believed in women's vote and the decriminalisation of homosexuality. He developed the principle of utility in his theory which states that an action is right if it produces the ‘greatest happiness for the greatest number'. He had strong beliefs of maximising the quantity of happiness; he was not concerned about prioritising which form of happiness were superior to others. Bentham wrote in theRationale of R eward: ‘Prejudice apart, the game of push-pin is equal of value with the arts of sciences of music and poetry'. Bentham's position was that all pleasures are of equal value. From this he devised the hedonic calculus as a means of measuring happiness. Hedone meaning pleasure. There are 7 parts of the hedonic calculus being intensity, duration, certainty, remoteness, richness and purity which all link to measuring the amount of happiness that a certain situation will produce. An example be applied by using the hedonic calculus to help decide whether it is morally right.A scenario, of a 16 year old girl called Katy wants an abortion because she doesn't want to have a baby. However, her parents are Christians and do not agree with her having an abortion. Abortion is thought of as an ethical issue because people argue whether it is right or wrong. As Bentham's theory is concequentialist all Judgements made should be based on the outcome. Using the hedonic calculus can measure/estim ate the amount of happiness that will be produced. To decide upon the action taken on abortion the intensity of happiness will be produced.In this scenario, the strength of the happiness of the girl, the parents and society will be taken into to help provide the greatest amount of happiness for the greatest amount of people. The duration of the happiness will also be taken into account, to measure how long the happiness will last for. In this case, how long will the happiness of the girl last if she has an abortion? The certainty of the situation will be measured to determine whether happiness is guaranteed to be produced. Will having an abortion actually produce happiness for Katy and her parents?The extent of the happiness will be evaluated to decide how many people it will effect. In this example, will it affect her parents and society more than it'll effect her if she has an abortion? The remoteness of abortion will be checked to determine how soon the happiness will occur. It w ill be debated whether having an abortion will immediately make the girl happy straight away and/ or in the future. This links to the richness of a situation evaluating how much happiness it may produce in the future. In this case, will abortion still provide the girl ith happiness in the future? r will it affect her family and society more so? Again, this links with the purity of the situation which is the decision of whether it will provide unhappiness in the future. Will abortion cause unhappiness for the girl, her family and society. As you can see the hedonic calculus works towards bringing the greatest happiness to the greatest amount of people measuring the quality of happiness not the quantity. In this example, the hedonic calculus would help to decide whether abortion is morally right helping to make moral decisions.The edonic calculus helps you to weigh out what is morally right in a situation giving an objective view reducing opinions and biased options. It takes multiple choices into account excluding religion. In this case, the hedonic calculus would decide that is morally right for Katy to have an abortion. The hedonic calculus would conclude this because society may think that 16 is too young to have a baby which would provide them with more overall happiness of the girl having an abortion. However, having the abortion may cause unhappiness for her family but forgiveness is in the heart ofChristians, if they understand that having an abortion will create a very high amount of happiness for Katy and many people of society may agree with her having an abortion it outweighs the unhappiness of the parents. If Katy was to follow through with her abortion it would provide her more happiness in the meanwhile and future as having a baby may affect multiple aspects of her life. As you can see the hedonic calculus works towards bringing happiness to the greatest amount of people therefore supporting Bentham's beliefs and following Act Utilitarianism.