The Basic Economic Problem

The Basic Economic Problem Introduction The basic economic problem is the scarcity of resources. People want more than can be met with their available resources. The human needs are unlimited because they grow and evolve while the means of fulfilling the needs (financial assets) are limited (Stiglitz 1992: 48). The effort to overcome the relative lack of goods, in other words to solve the economic problem is the basis of the economic activity of people. If the satisfaction of a need does not have a shortage of the appropriate resource, the action for the acquisition of this instrument is not classified as economic. The effort, for example, for inhalation of air lacks is not an economic action because the air is in abundance. The economic goods, of course, are not created on their own. It is the result of peoples effort that use whatever is available to them, to create resources that meet the needs i.e. the goods. The elements that are necessary for the creation of goods are called productive assets. Consequently, when it is said that economic goods are in relative scarcity or shortage, in fact it is meant that there is a scarcity of productive assets (nature, labor, capital). The problem of scarcity of resources has as a result the allocation of resources. In other words the process of the selection of needs to be met and the amount of resources used to meet them. Thus economics is a social science, which deals with how society allocates scarce resources among unlimited wants and needs (Wilson Clark 1999:21). The question that arises is how people allocate scarce resources to get the most value. Scarcity of production assets The scarcity of the asset nature is obvious that is due to the fact that land is limited in size and productive forces. The scarcity of the asset labor is due to the limited number of people able to work and to the fact that each person can only work a certain number of hours a day. The asset capital is the result of nature and labor and these are in scarcity, the chapter will also be in scarcity. The Basic Economic Problem and the Market Mechanism The above mentioned definition, contained in most introduction to economic theory manuals conceals through a non historical generalization the fact that the main body of economic science has dealt with the analysis of capitalist societies which are characterized, on the one hand, by the private ownership of the means of production and unequal power relations between wage labor and capital and on the other from freedom of entrepreneurial activity and the competition of capital assets in the market. According to the orthodox economic analysis, the scarcity (= failure, lack of) of resources in relation to social needs, forces each society to choose which products should be produced and in what quantities (Gough 1979:120). Moreover, the scarcity of resources means that the production of a particular product has costs in the form of other goods and services that could be produced in its place with the same resources spent for its production. For example, the working time and the machines that are used for car production cannot be used placed for the construction of schools. The cost of producing a product, defined as the equivalent of the cost of products that could be produced alternatively in its place, is called opportunity cost. Each product has an opportunity cost only when social resources are fully utilized. When there are idle production assets, that means productive resources are underemployed (unemployment or incomplete use of existing machines), then the production of a product has zero opportunity cost because it does not deprive already productive resources form the production of other products (Le Grand et al. 1992:75) The scarcity of resources and the opportunity cost impose the non-wasting of resources to maximize the product, consumption and hence social welfare. This is achieved on the one hand through the harmonization of the allocation of resources among productive uses of the social needs and preferences, and on the other through the savings of resources during the production of goods. So, the society avoids to produce useless products that nobody wants to consume or produce useful products but with more resources than those that it could use if it combined them better. The avoidance of the waste of the productive resources of society through a continuous effort of their saving and comprehensive utilization is related to the concept of economic efficiency. An economy is effective when it does not waste its limited resources by producing useless products when it maximizes the produced goods by ensuring their full use and their excellent combination. Because the capitalist system has as structural component unemployment and periodic phases of overproduction or underemployment of resources, it suffers from permanent economic inefficiency (Barr 1998:75). A social system to be cost effective is an important achievement, because it maximizes the production and consumption abilities of the society and hence social welfare. But a cost-effective social system is not necessarily fair, because social welfare can be unequally distributed among members of society. The wealth of some people can coexist with the poverty of others. The methods of analysis of the economists can be used to evaluate the different modes of economic organization in achieving both efficiency and equity, as well as to evaluate other objectives such as the promotion of consumer choices and social solidarity. Although, as mentioned above, the determination of social goals is the result of the ideological and political confrontation, economic argumentation can contribute significantly to the process of clarifying objectives and options. Generally in capitalist societies, it is possible to have a relation of reverse ratio between the objectives of economic efficiency and social justice. Thats because when the employees and other social classes and strata achieve redistribution of income to their benefit, then it is possible that the profit rate may fall, and as a consequence capital reduces the amount of investment and the rate of product slows down. So the efficiency of the economy may be reduced as a result of the redistribution of income, although the latter contributes to achieving social justice. In summary, it can be said that social welfare that is based on the satisfaction of social needs through consumption depends on : the harmonization of social preferences for product consumption with the allocation of social resources in their production, the effective use of resources in goods production the fair distribution of income and the fair distribution of wealth, which ensure that social welfare is distributed equitably among all members of society. The harmonization of social preferences for product consumption with the distribution of social resources for their production and the efficient use of resources in the production of goods, refer directly to the goal of economic efficiency whereas the equitable distribution of income and the equitable distribution of wealth refer to social justice. The two objectives may conflict in capitalist societies. Conclusion The economic problem is a permanent problem for human societies. In the immediate future there is neither a limitation of the needs nor a substantial increase in the resources to satisfy needs. On the contrary, indeed, as the pessimistic scholars support the economic problem will become more intense. This forecast is based on three elements: 1) the continuous increase in world population, 2) the depletion of energy sources and 3) the negative effects of the production of many products in the natural environment e.g. contamination of rivers, etc. But along with such bleak prospects there is the evolution of technology and the possibility to find new energy sources that tend to dampen the intensity of the economic problem. However, to the degree that developments can be predicted, the basic economic problem seems to be permanent.

Case Study-Carlsbad Essay

QUESTION #1 Prior to the Public works department merging to become a part of a Major Service Area (MSA), the employees often performed work assignments that were redundant in different department which is a waste of the City of Carlsbad’s financial resources. This redundancy in work was contributed to the lack of cohesiveness in the entire Public works departments except for the water department. Lack of leadership is also a hindrance to the department’s mission and the employee’s guidance because the Public Works director is also the City Engineer. With too many employees performing job duty functions that require supervision, leadership in the Public Works department has been lacking the necessary guidance employees should expect. The employee tenure ratio varied between long and short assignments which could be an issue for training and coordination of day to day work without the proper leadership. QUESTION #2 I would introduce myself to the employees within the different departments of the Public Works department to clarify how we will be looking to make the organization better and offer an outline of what we may require from them. I will have discussed this conversation with management prior to speaking with the employees. Cummings & Worley (2008) states, â€Å"Before collecting diagnostic information, practitioners need to establish a relationship with those who will provide and subsequently use it. Because the nature of that relationship with those who will provide and subsequently use it† (pg. 121). I would use collection methods such as observation of employees at work, surveys and questionnaires. Because the Public Works department services the residents of Carlsbad, I would also include them in random questionnaires to find out how their service is working and how it can be improved. This will allow the department to receive feedback from those they work daily to service. Through interviews with the employees in small groups or individual sessions, I would like to pose direct questions such as â€Å"What do they need to succeed in their position?†, â€Å"Do they feel as if they are provided enough direction in their day to day?†, or â€Å"What they feel the vision of the organization is?† Cummings & Worley (2008) states, â€Å"Further probing and clarifications is, therefore, possible as the interview proceeds. This flexibility is invaluable for gaining private views and feelings about the organization and for exploring new issues that emerge during the interview† (126). QUESTION #3 I would recommend interventions for the Public Works department such as a process consultation with the open-systems method intervention. Performing the process consultation prior to offering the department any solutions to make any changes will allow us to identify where the disconnect in communication with the employees while providing the ground work for establishing the organizations goals. Cummings & Worley (2008) states, † Rather the process consultant works to help managers, employees, and groups assess and improve human processes, such as communication, interpersonal relations, decision making, and task performance†(pg. 253). Because the Public Works department has been comprised of so many different groups providing a variety of services to the residents of Carlsbad, I would recommend the open-systems method to the intervention. Through this intervention, we will be able to narrowly focus of the core mission of the organization and its purpose while creating an ideal future of how the Public Works department can progress with the inclusion of its employees. Because employees were often doing redundant work, we will use this time to assess how many people are needed on a task and what areas is not being taken care of due to mismanagement of assignments. QUESTION #4 I would begin the implementation of the action plan by interviewing and meeting with employees individually to introduce the goals of the OD intervention and perform interviews during this discussion. I would also perform random interviews with the residents of Carlsbad who rely on the Public Works service to discern their likes, dislikes and suggestions for improvement. I would then reveal the discrepancies of what the employees and management believe they are doing to what is actually happening. This will allow everyone to gauge the disconnect in their services as well as a starting point for improvement. During this time, we can refocus the employees on the vision of the Public Works department. Cummings & Worley (2008) states, † Generally, a vision describes the core values and purpose that guide the organization as well as an envisioned future toward which change is directed. It provides a valued direction for designing, implementing, and assessing organizational changes† (pg.169). Through the establishment of a communications plan, daily assignment check-ins and training the employees will be able to garner a more focused work day and reduce redundant work being duplicated. During the intervention a separate amount of time will be devoted to assess the leadership of the department. With the supervisor splitting duties as the City engineer, we may assess the need for an assistant to properly manage the employee’s daily. Anonymous surveys and observation will be used to garner feedback on how well the action plan works. References Cummings, T. & Worley, C. (2008). Organization Development & Change. (Pgs. 121, 126, 169, 253) Cengage Learning. Mason, OH.

Midsummer Night’s Dream Analysis

Illusions A Midsummer Night’s Dream Essay Is it a dream or reality? The connection between the real world and a world created by our own vivid imagination while we sleep is somewhat uncanny. A plethora of individuals cannot fathom how the brain can create such realistic scenarios in such little time. In A Midsummer Night’s Dream by William Shakespeare, the author uses his knowledge of dreams to create his play. A Midsummer Night’s Dream is not only the title of this play but the overall theme as well. In the story dreams bring many changes within the plot.Dreams change the opinion of characters and open their eyes to a different reality. A large connection between dreaming and theater is made at the end of the play in Puck’s famous final speech. Midsummer also plays a large role in the theme of this play as well. We will discuss all of these topics within the next few paragraphs. â€Å"Like dreams, love is foolish, crazy and driven by desires. † Say s an article called The Meaning of the Title in  A Midsummer Night's Dream  by Shakespeare. The relationship between the four lovers, Hermia, Helena, Lysander, and Demetrius is based on their dreams and desires.When Hermia had a nightmare depicting a snake eating her heart, â€Å"Methought a serpent ate my heart away,/And you sat smiling at his cruel  play† (pg. 64-65) it foreshadowed Lysander’s newfound love for Helena which was only temporary. Lysander was casted into a figurative dream as Puck placed the love petals upon Lysander’s sleeping eyes. When Lysander awoke and Helena was the first one he saw, Lysander began to long for her and fall in love with her. This is important to the plotline because it shows what a dream can do to a person.It also helps build Puck’s character as a careless trickster. Although Helena believes Lysander’s attempts to win her heart as merely a cruel joke the reader understands Lysander is trapped in a dream. Puck then with instruction from Oberon, the King of the Faeries places the love petals in the eyes of the sleeping Demetrius to let him fall deeply in love with Helena who loves him. At the same time Puck is instructed to put these petals into Titania’s, the Queen of the Faeries eyes so that she may hopefully fall in love with an â€Å"ounce, or cat, or bear† (pg. 55).This is so that Oberon can take the Indian boy away from Titania and use him as a servant. This will solve their marital problems and bring balance back to the mortal world. Titania falls in love with Bottom, of whom which was ironically transformed by the all magical Puck into an ass. â€Å"O Bottom, thou art changed! What do I see on thee? †(pg. 75) This shows the illusions of dreams and love. Titania was in love with what she thought to be the most majestic and absolutely wonderful mortal she had ever laid eyes upon while in reality the creature she fell in love with was an ass.This also shows i rony connecting the stubborn personality of Bottom and what he was transformed into. The relevance of Midsummer in the theme of the play is that many things grow in the summer, thrive. It’s a wonderful time and usually what people think of when they think of love. It is the season for life and growth as winter is for death. The nice weather drives people out of their homes and into the open outdoors. This is appropriate because people like Lysander and Hermia wouldn’t normally in winter be traveling through the woods and stop to rest.It would be too cold. The setting also portrays a summer atmosphere. It also believed that the faeries come out to trick passing travelers in the nights of midsummer. They are known to play jokes on them and to get enjoyment out of mortals. This is probably why Oberon is so interested in Helena’s despair. He must feel sorry as well as want to have a little fun with the mortals. He then instructs Puck to fix her love problem. Puck, t he trickster faery is very active during this time.He plays tricks on almost everyone in the play, finding enjoyment in transforming Bottom into an ass and making Titania fall in love with him. This play is based upon love, tricks, comedy, and dreams so the faeries coming out during this time was important to the main plot and in agreement with the legend of faeries coming out during midsummer nights. Lastly Puck’s final speech shows the connection between dreaming and theatre by stating â€Å"While these visions did appear. /And this weak an idle theme,/No more yielding but a dream†(pg. 172-173).This shows us that dreams happen in order to weave the importance of the main theme of A Midsummer Night’s Dream. Without the illusion that clouded Titania’s eyes she might not have fallen so deeply in love with Bottom, the ass. During the practice of the play Pyarmus and Thisbe Snout wouldn’t have noticed that Bottom had been transformed. Without the illu sion of the love petals of the pansy flower Lysander might have seen through the weak shade of fake love for Helena. He would have realized his heart belonged to Hermia. Demetrius may have never moved on and loved Helena.The ending during Puck’s speech really ties together the whole play and helps us come to the conclusion that dreams were necessary for the plot and theme of the play. Puck wants us to feel as if it was all a pleasant dream, but at the same time he wants us to remember everything that happened, good and bad and learn from it. Nothing in this play is quite what it seems so it is ironic at the end to be trusting Puck who is such a tricky character. What we take from his final speech is to enjoy the happy ending and always be wary of dreams.Dreams and reality coexist in our lives as much as they do in A Midsummer Night’s Dream. We understand the theme of this play more closely if we examine key points that support the theme and title as one. Illusions and reality, Puck’s final speech, and the relevance of midsummer help us connect the title and theme. In A Midsummer Night’s Dream by William Shakespeare, the author uses his knowledge of dreams to create his play. A Midsummer Night’s Dream is not only the title of this play but the overall theme as well. As â€Å"honest Puck† (pg. 173) says before he departs â€Å"So good night unto you all. † (pg. 173)Bibliography â€Å"A Midsummer Night’s Dream: Analysis of Lines 5-20 of the Epilogue. †Ã‚  Article Myriad. N. p. , n. d. Web. 25 Nov. 2012. ;http://www. articlemyriad. com/midsummer-nights-dream-analysis/;. â€Å"The Meaning of the Title in A Midsummer Night's Dream by Shakespeare – Yahoo! Voices – voices. yahoo. com. †Ã‚  Yahoo! Voices – voices. yahoo. com. N. p. , 10 July 2005. Web. 25 Nov. 2012. ;http://voices. yahoo. com/the-meaning-title-midsummer-nights-dream-6294754. html;. Shakespeare, William. A midsumm er night's dream. Washington Square Press new Folger's ed. New York: Washington Square Press, 1993. Print.

Taking a Look at the Death Penalty - 614 Words

Capital punishment or the death penalty is a legal process where a person is put to death as a punishment for a crime that person has committed. Forms of Capital punishment has been around for hundreds of years. Execution of criminals have been used by almost every society that has ever existed. People were executed for all types of crimes from being accused of witch craft to lying. In some cases a vast amount of people were put to death with capital punishment. In the 20th century tens of millions of people were killed by mass capital punishment. The holocaust was a very good example of mass murders for virtually no reason. Capital punishment can be good and some ways but very bad in many ways. The Death Penalty has a good reason as well as the bad. Criminals that has committed horrific crimes such as Child abuse, Rape, Murder etc. Some criminals deserve to be put on Death row and executed. People may feel like justice is not served if the person doesn’t get the death penalty . It is said that if a criminal is jailed they may get out and commit the same crime again. In the United States the death penalty is legal in most states. From 1976 through October 2009 there have been an estimated 1,177 felons have been executed in the United States. In the State of Texas there were 442 (38%) felons executed. Some states don’t believe in the death Penalty States such as Alaska, Hawaii, Iowa, Maine, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York,Show MoreRelatedTaking a Look at the Death Penalty1195 Words   |  5 PagesDeath Penalty Many criminals who commit murder are sentenced to death for the crimes they have committed. The death penalty is a highly controversial practice and the question that must be raised is: Should society continue to use the death penalty as a punishment for heinous crimes? Currently, this turbulent topic continues to be argued. According to the Death Penalty Information Center, there are already eighteen states that have abolished this archaic form of justice. Our society is movingRead MoreTaking a Look at the Death Penalty1013 Words   |  4 Pages Death Penalty should be allowed under circumstances also known as capital punishment, where congress or any state legislature recommend the death penalty for murder and other capital crimes. Majority of the states are favor in death penalty, roughly around 32 states are favor and 18 states are against death penalty. In most cases, many argue that death penalty has violated the 8th amendment, where it bans cruel and unusual punishment. Therefore, they would go against death penalty. However, withoutRead MoreTaking a Look at the Death Penalty694 Words   |  3 Pagesgenerations to come. This is where the death penalty comes into place. What type of feelings would you encounter knowing your children were in danger on a daily basis? We are capable of putting certain people away for our safety. The death penalty may be expensive, but it should stand nationwide on the grounds that it lowers crime rates and it is justified. The death penalty is too expensive to enact. Every case having to do with the penalty of death costs an extra chunk load of money, trialsRead MoreTaking a Look at the Death Penalty1168 Words   |  5 PagesDeath Penalty To have a loved one taken away in such a cruel manner to have a memory that haunts you every living moment. The death penalty would not merely add up for what has happened to you or family. The death penalty should be illegal for many reasons such it is immoral, it doesn’t ensure closure for the victim or the victim’s family, and although some people think that the death penalty will deter crime it really is ineffective overall. 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There are more than 140 countries abolished it. Also the 58 nations with 65 percent population still used it, like China, America, Japan. Many lawyers, judges, politics and scholars also have their ownRead MoreTaking a Look at the Death Penalty1029 Words   |  4 Pages The death penalty has been around for decades, and since the beginning it has been a major topic of discussion. It’s been very controversial because there are religious issues and moral issues in some people’s minds. The death penalty is a topic that has always had moral principl es and ethical issues. There’s really no in between with what people believe, they are either fully for the death penalty, or completely against it. However, both sides have completely ethical reasons as to why they believeRead MoreThe Death Penalty Is The Punishment Of Execution1247 Words   |  5 PagesWhat is the death penalty? The death penalty is the punishment of execution, administered to someone legally convicted of a capital crime. In the reading selection â€Å"The DEATH PENALTY in AMERICA† Bedau says that â€Å"The history of the death penalty in America can be useful if roughly divided into six epochs of very uneven duration and importance (3)†.The author is saying that the history of the death penalty can be usefully if it is separate into different time period. The author says â€Å"first, from theRead MoreThe Ethics of Capital Punishment Essay1608 Words   |  7 PagesCapital punishment is known to some people one of the cruelest punishment to humanity. Some people believe giving a person the death penalty does not solve anything. While others believe it is payback to the criminal for the crime they have committed. There have been 13,000 people executed since the colonial times, among 1900 and 1985 there were 139 innocent people sentence to death only 23 were executed. In 1967 lack of support and legal challenges cut the execution rate to zero bringing the practiceRead MoreCessation of Life: Who are we to choose?- A look into the Death Penalty686 Words   |  3 Pagescrime, sometimes the only justice seems to be an eye for an eye. And most of the time those victims look to our court systems to provide that justice. But is death the answer? I believe that with human fallibility and the fallibility of our court system as variables, that a sentence that cannot be overturned should not be passed down in any case, especially when that sentence is as irreversible as death. In an editorial from USA Today found on deathpenal tyinfo.org, Justice Sandra Day O’Connor is