Keynesian and Real Business Cycle Theories Essay

Keynesian and Real Business Cycle Theories - Essay Example The effects of the declining trends in economy expand to all the areas such as production, income, consumption and employment level. Therefore it has been an important issue for the economists of all eras to study the main concerns such as the causes of the business cycle and the responsive behaviour needs to be adopted by the policy makers. Despite many explanations provided by the economists the questions remain still controversial. The main groups of economists involved in the controversy are the Keynesian economists and the classical economists. According to the classical point of view the business cycles are the result of disturbances in the production and spending. The classical economists do not find the need of government action in order to counter the recessions in the economy. On the other hand according to the Keynesian economists the wages and the prices do not respond very quickly to the disturbances in the production level and the employment level. Therefore the Governmental action is needed in order to deal with the situation. In the next section the essay will further elaborate the debate between the two school of thoughts. The Real Business cycle theory is the extended version of the classical theory, which sees business cycle as the result of the productivity shocks. According to the Real business cycle theory the reduction in the productivity at temporary basis creates a declining effect on the real wages, employment level and output and increase the interest rate and the prices. The RBC theory finds a positive relation ship between the business cycle and the level of real wage, prices and the overall productivity level of Labour. On the other hand the theory asserts a negative relation ship between the price level and the business cycle. The anti-cyclical trend of price level is taken as failure by many of the critics of the theory. Except the productivity shocks the increase in the Government purchase also increase the employment level, the interest rate and the price level. Hence the classical model undertake the study of both fiscal factors and the productivity shocks. Although the fiscal policy can play its part in order to improve employment level and output but the classical economists do not support the role of Government action and states that the invisible hand can adjust the market to the most efficient level. The role of money in the RBC is neutral. RBC theorists suggest that increasing or decreasing the nominal money supply can effect the price level but cannot effect the output level, employment and interest rate. The statement of money being neutral by the classical economists has been a failure. It has been proven several times that the role of money supply is not neutral and the money supply has been used in many countries as the policy measure for stabilising the economy. In the case of the extended classical theory i.e. misperceptions theory the sudden change in the in the money supply can affect the output. If the consumers can make rational forecasts regarding the macroeconomic variables the such as money supply the Government regulating bodies cannot surprise the consumers since the will make the judgement regarding the actions of the regulating body. Hence according to

PAE Organization Culture Exercise Assignment Example | Topics and Well Written Essays - 500 words

PAE Organization Culture Exercise - Assignment Example Members have learned the attributes of sharing whatever they have with others and it has since become a tradition to give to other people. The organization has existed for many years and children born to parents in the organization end up sharing the aspiration of the organization. In turn, they learn the virtues of the organization and end up being part and parcel of the organization. In this regard, the kindness and compassion are the most evident dominant virtues of the organization. Despite the differences that people have, since they come from different families and places, they all have common goals and aspirations that have become part of the culture. For example, children are born and adapt to the practices of the community. By the time they mature they learn the attributes and join others in ensuring the goals of the organization are met. Due to the culture of the group, which has been passed to different generations, members have become accustomed to the practices of the group and that is now part of them. The cultural practices of the group are founded from Christian doctrines. Christianity calls for following in the footstep of Jesus and that means that all members are supposed to emulate Jesus. Even though the entire church is supposed to share in the practice of Christianity, out welfare organization has gone a step further to share the true values of Christianity by helping the less fortunate people. Despite the dominant culture, as advocated for in the values of the organization, members have their own unique (cultures) ways which sometimes conflict with the dominant cultures. For example, there are some instances when members can conflict with each there and in worse situation verbal exchanges take place. These occasionally arise due to the difference in cultures and personal issues. For example, when planning for events some members have problem keeping time. However due to the stringent requirements and

Paper on The Blue Hotel Essay Example | Topics and Well Written Essays - 1000 words

Paper on The Blue Hotel - Essay Example In this story by Stephen Crane the theme of conflicts scores over other themes. The conflicts relate to Swede and societal reaction to his self-destructive individuality. The detailing of the theme reveals how Crane challenged such situations. Let’s take the example of Swede’s disposition to life. He strongly feels that everyone in the Blue Hotel wants to kill him. His fear is unfounded and no backgrounder information is provided or logic is given for the lurking fear in his mind. This indicates that conflict is the inherent part of his personality and that is the reason for him to surmise that those in the hotel are angry with him and they want to kill him. Even if it is assumed that he is paranoid being under the influence of alcohol or drugs, why the thought of killing only should float in his mind. This indicates the basic self-destructive behavior of Swede. Next, Swede picks up a fight with Johnny. The first phase of violence doesn’t produce any tangible res ults, and his second bout of aggression after he defeats Johnny in the fight, takes him to death. In a fight this time with a gambler, Swede is stabbed to death. This is a pointer, according to Crane, the things to happen when humankind as a whole takes to self-destruction, inviting disaster that will ultimately lead to total annihilation of the human race itself. Nature will not target human race alone in isolation for destruction. Plant and animal kingdoms also will perish to a great extent. The author of any novel/story, howsoever intelligently may try to sweep under the carpet events related to his life, will reveal something about one’s own psychology and attitudes to life, through the dialogues, and actions of his characters. This is true of Stephen Crane (1871-1900). He died at the age of 28 and thus he belongs to the younger generation, which is combustible. The grinding poverty he suffered all through his adult life and his poor standard of living has something to do with his arrogant social disposition. Added to the problem, he had a poor health record, suffered from tuberculosis, and contacted malaria and failed to take proper care of himself. Not caring for one’s health is again an act of self-destruction and that attitude has to find expression is his literary works and the same has happened in this story through the character of Swede. Did he feel isolated from the society and his surroundings? It must be so as reflected in his disposition. He acted like a rebel against all the established societal norms while interacting in a group. Swede seems to have the permanent grudge against the society and it is revealed in his small and big actions, right from his induction into the plot of the story. That grudge is the root-cause of his self-destructive behaviour. The group referred to in the Blue Hotel is a miniature model of the society and Swede picks up serious quarrels with those present there on one issue or the other. He creates iss ues out of no issues. He seems to have formed certain fixed negative opinions about the society. The reasons could be his upbringing and the adverse circumstances that he had to face early on in life. Nature seems to read the dormant agitations in his mind and as he arrives at the Palace Hotel along with two others, a blizzard develops and everyone stands isolated at the hotel. In the blizzard normal vision is impaired, one cannot see the surroundings properly, and Crane has used the

Piece Essay Example | Topics and Well Written Essays - 1250 words

Piece - Essay Example Although there are other minor scale symphonies attributed to Mozart’s name but there are doubts as to authenticity. However, Symphony Number Forty and Symphony Number Twenty Five are minor scale symphonies both authentically attributed to Mozart (Zaslaw). This paper will explore Mozart’s biography, his Symphony Number Forty in terms of its historical context and its description in order to bring out the nuances in this great musical piece. Mozart’s Life and Times It would not be unjustified to term Mozart as one of the chief canons of Western classical music. Mozart hailed from a period when Europe was teeming with musical activity. Mozart was aided in his musical endeavours at an early age by his family background. Wolfgang Mozart’s father, Leopold Mozart was a practising musician and was quick to realise his son’s talents early on. Mozart was encouraged to take up music at a very early age and was able to compose as early as five years old. The e arliest demonstrations by Mozart were based on the violin and the piano and this left quite a strong impression on the maturing Mozart later. The early works of Mozart tend to revolve around the violin and the piano in large part especially his concertos. ... Mozart moved into the Austrian capital and was soon on his way to fame although Mozart’s financial troubles were far from over. The prolific character and the quality of Mozart’s work were able to project him into the limelight in Vienna and around. However, forbidding circumstances such as the Austro Turk war from the same era proved to be a drain on the fiscal resources of Mozart’s patrons. Consequently, Mozart found himself in fiscal trouble for some time. Eventually, Mozart’s circumstances began to recover but the great composer was soon claimed by a mysterious illness. Wolfgang Mozart died in 1791 at age thirty five. Mozart’s untimely death has been the subject of much speculation over the years and most people consider his early death a setback to Western classical music (Robbins). History of Symphony Number Forty The origin of Symphony Number Forty has been traced to Mozart with authentication. The symphony was noted down by Mozart in his per sonal notebook on July the 25th, 1788. It must be noted that Symphony Number Forty hails from one of the most prolific periods in Mozart’s life. The period in which this symphony was created consisted of only a few weeks but works from this period by Mozart are hailed as masterpieces in their own right (Deutsch). Symphony Number Forty has come under debate for Mozart’s personal viewership. It has been argued that Mozart was never able to hear his Symphony Number Forty performed during his lifetime. The time between the composition of Symphony Number Forty and Mozart’s death is brief so it is argued that Mozart died before any large performances of Symphony Number Forty. However, there are other commentators who reason that Mozart was party to Symphony

Computer Questions Short Answers Assignment Example | Topics and Well Written Essays - 750 words

Computer Questions Short Answers - Assignment Example 09- How/why is a branch instruction really a data movement instruction ANS: A branch instruction is not a data movement instruction because branch instruction jump from one instruction to another but don't move data from one instruction to another. 10- How can the speed at which an electrical circuit performs its function be increased ANS: Acircuitis an unbroken loop of conductive material that allows electrons to flow through continuously without beginning or end.Generally as the feature size shrinks, almost everything improves-the cost per unit and the switching power consumption go down, and the speed goes up. 11- What are the advantages of gallium arsenide (as compared to silicon) for the implementation of microprocessors ANS: It has smaller molecular size and thus (in theory) smaller circuits can be fabricated from it. It has both electrical and optical properties. 12- Why does the reliability of magnetic storage media generally decrease as recording density increases ANS: Higher density means less surface area per bit. Less surface area per bit means less mass of coercible material. Less coercible mass means reduced ability to hold a charge high enough to be reliably read and to allow for magnetic leakage, decay, and other destructive factors. 13- What factors contribute to the loss of data stored on tapes ANS: If system crashes leading to incomplete sessions. Hardware problems causing incorrect or incomplete write operations Corrupted media or databases. Due to malicious external agents like viruses and hackers 14- What are the advantages of optical data storage devices as compared to magnetic data storage devices ANS: Optical storage devices are read by... ANS: Optical storage devices are read by a laser beam. Generally they have a more limited storage capacity when compared to magnetic devices. However, one advantage is that they are more hard wearing than magnetic devices. ANS: When you decrease the buffer size you increase the number of "outside loop" operations, and thus you increase the load on the CPU. When you computer gets too busy it may not complete the buffer loop in time to deliver its samples to the mixing bus, which, in turn, has to deliver to the driver/soundcard. The result will be unpleasant cackling noise. ANS: Code 39 (also called Code 3 of 9) is an easy-to-print barcode commonly used for various bar-coding labels such as name badges, inventory and industrial applications. The Universal Product Code was the first bar code to be widely adopted from as early as April 1973 by the US grocery industry for product marking. Code 2 of 5, sometimes called Code 2 from 5 and the interleaved 2 of 5 barcodes can represent the digits 0-9. In use since the late 1960's, it is a popular choice for airline tickets, photo developing envelopes and internal warehouse systems. ANS: Bar code scanners are manufactured to read the

Market for Energy Drinks Essay Example for Free

Market for Energy Drinks Essay 3.How is the market for energy drinks, sports drinks and vitamin-enhanced beverages changing? What are the underlying drivers of change and how might those forces individually or collectively make the industry more or less attractive? The market for energy drinks, sports drinks and vitamin-enhanced beverages kept on changing through differentiation from other brands to have a better brand image and also to meet the demands of the consumers as it is said that USA has helped greatly in the growth of the industry. Because of the significance of brand recognition, the sellers kept on building the product and how it to be most familiar. Product innovation, one of the market’s drivers of change, is said to be the most important competitive features of the alternative beverage industry. Alternative beverages competed on the basis of differentiation from traditional drinks (carbonated soft drinks or fruit juices) so for energy drinks, they often changed the taste, the energy boosting of their ingredients, and image. It is also through marketing innovation and efficient distribution systems that the industry kept on changing by always having varied its packaging, clever ads, endorsements from celebrities/athletes and sponsorships. Alternative beverage sellers also need to have efficient distribution systems to be successful in the industry. These forces only made the industry attractive because it can attract first time buyers through product and marketing innovation and offer responsive customer service to large customers which may then lead to an increase in market demand, make competition more intense and lead to a higher industry profitability.

The Concept Of Happiness

The Concept Of Happiness However dull ones life may be there are times when one cannot help but question the meaningfulness of it. The subject of death is often a prime example of how people begin to question the value of life. Death usually brings people down and it makes them wonder if there is a meaning to existence or whether the recently deceased found it. In such situations, most of us turn to questions such as: What am I doing here? Am I happy? Am I doing the right thing? Am I making a difference? Hopefully one does not need to face such extreme events in order to question the meaning of life. In Nicomachean Ethics, Aristotle expresses his opinions about the function of the human being in an attempt to show that the human good is activity in accordance with reason, and in turn this alignment alone is responsible for our happiness which in his view is the highest good, a self sufficient and final goal for any human being. Along the same lines, in The Experience Machine, Robert Nozick is addressing a similar issue, by arguing that pleasure is not the only thing which matters to us and brings to our attention the fact that there are other factors which contribute to our well-being. In this paper I will explain the arguments of both Aristotle and Nozick by exploring the concept of happiness, its role in morality and what I understand through ones function of living a happy and moral life. Soon after reading some Aristotelian material, one cannot help but notice that Aristotle was a man of science, a very analytical man. It seems that he deeply enjoyed putting things into categories of belonging. Things like the four causes, things like his classification of things that are inorganic and living, and the list goes on. The same applies for his work, Nicomachean Ethics, and as the name implies, this is as close as we can get to Aristotles code of moral values. Aristotle felt that virtue and being active were a means to happiness, which he believed to be the universal goal of every human being. However, since we are all different, every person has a unique way of achieving happiness and he starts his argument by bringing this issue into focus. He sets out to investigate what does happiness really mean? Does it mean a warm cup of tea, a healthy family or perhaps a good looking partner? Happiness means many things to many people, and that brings into question the meaning of true happiness and what makes something true happiness. Aristotle says that the good we are looking for is apparently one thing in one action and another thing in another, (NE 106a15-17) thus we have to identify which is the good in each of these cases (1096a17-19). Aristotle uses medicine as an example where the good would be health, or generalship where the good would be victory, but in every action and decision it is the end, since it is for the sake of the end that everyone does the other things (NE 1096a20-22). Some, may find this argument problematic and could say that sometimes we do things without a set goal in mind, and rather do them just for the sheer joy of it, but I disagree. Aristotles point seems to be applicable in every situation, since even if the good is not obtained as a distant goal but rather as an immediate reward, or at the same time as the action is performed, his argument still holds. For example, listening to music or walking my dog results in pleasure form just the activity alone, in the very moment that the action takes place. He then proceeds to explain that the highest good has to be complete and cannot be for the sake of something else as that would imply that the latter would become the highest. Aristotle says that it must be something complete and self-sufficient, since it is the end of the things pursued in action (NE 1097b21-22). This also seems like a very sound point to me. If there is such a thing as a highest good, then we can easily imply that it should be complete and sufficient in itself in order to make a life choiceworthy (NE 1097b15). While reading Nicomachean Ethics, I could not help but wonder if Aristotle ever realized the irony of this vicious circle we seem to be caught in. Most people live life by going from one compensation to another, trying different experiences, looking for a lover, wife or husband, career or money. I strongly believe that one must realize that these are just learned concepts and not something we are born with, and the same applies for our morality. It seems like we have a constant need to fill our lives with content, in order to keep us busy and to give us some sort of identity. Its quite easy to see the cycle that most people constantly go through: One feels empty and suddenly desire arises; soon after compensation comes, boredom sets in and then again one feels empty. I think we should strive to realize that it is not the object acquired that gives satisfaction, but rather that we are satisfied once were at peace, not needing anything. It seems to me that satisfying desire is only a temporary solution and once the initial excitement associated with the new acquisition is fading, the need to acquire arises again and again. This only turns life into an addicting habit, and while I do believe in true happiness I doubt it can be achieved this way. Nozicks philosophy is similar to this analogy, but rather than just arguing his point methodically, Nozick starts off by laying out a thought experiment. This experiment revolves around a hypothetical machine called the experience machine which is supposed to create a stimulated reality for any person that connects to it. The machine will then allow the user to experience various pleasures determined for each person by their own individual desires. In this hypothetical experiment, one would only have to be outside of the machine very briefly, in order to program the desired events and experiences for the next upcoming years of ones life. Another possibility would be for one to map out his entire life in the machine based on a very carefully conducted survey by superduper neuropsychologists which would guarantee a pleasant experience without having to ever leave the machine (EM p.606). Further, Nozick asks us to overlook certain concerns that would arise, such as who would run the machine if everyone would be plugged in, as it would not change the purpose of the experiment. He then asks: if presented with a choice would you choose to plug in? (EM p.606) Nozick opposes the question using a few distinct reasons, namely: we want to do certain things, and not just have the experience of doing them (EM p.606); we want to be a certain sort of person and we dont want to be limited to a man-made reality, to a world no deeper than that which people can construct. (EM p.607) In short, Nozick argues that, if plugging in to the experience machine provides more pleasure, we should simply follow this idea; however that will only happen if pleasure is all that matters to us. Nozicks own reply is that we would not choose to connect to the machine, and thus he concludes that pleasure is not the only thing that matters to us. I believe that, the answer provided by Nozick for his own hypothetical experiment, only sounds like a choice one would make simply because it appeals to the human biases against things which are considered artificial. Simply put, a person will not opt for an artificial reality if given the choice, even if it was an ecstatic experience but that does not mean that one is not seeking pleasure. It may as well be that, the psychological gratification received from knowing that one is living a real life is more rewarding than an artificial but pleasant experience. If we carefully examine the values that people hold we can see how they are just a different form of pleasure. Certain people would easily get pleasure because theyve turned down this machine and feel good because theyve made the right choice. Just because the psychological pleasure one may feel because of the choice made is more subtle than some ecstatic experience, it does not mean that it is not pleasure that one seeks. In my opinion, we are often faced with trials during the course of our lives. These trials sometimes change us and our perception of what life really is, which is what I understand through Aristotles function of a human being. He believes reason is what separates us from plants, animals and just about everything else. He calls the man who only identifies with human enjoyment vulgar, because while pleasure is related to happiness it is not the highest good, since one can feel pleasure but might not be happy. To me, this sounds exactly like Nozicks line of thought, but to be honest I dont think Nozicks experiment proves this argument. I believe his experiment may prove that there are several forms and types of pleasures, of which some are very subtle, but Im not convinced of how his experiment is showing that we choose other things over pleasure itself. At most, I believe it shows that we like the idea of achieving something ourselves rather than it being given to us, but then again, achievement is just another form of pleasure in itself. Aristotles function argument also states that our unique human function is the use of reason. According to him, playing the harp is a harpists function, and is the same as the function of an exceptional harpist. When virtue is expressed and added to the function, the harpists function becomes playing the harp, while the exceptional harpists function is to play the harp well. Each function is not considered complete until it expresses proper virtue and a degree of excellence (1098a11-16). Aristotle says that virtue is acquired through the practice of any given function, and that people are born only with the potential of being virtuous, yet they must act accordingly in order to acquire it. As I see it, Aristotles human function argument is a solid moral code that we should all follow. Given the use of reason is a primary requirement, everything one does needs to be analyzed, needs to make sense and needs to be channeled towards achieving happiness. If everyone strives towards the good with this in mind it is hardly possible to do harm or injustice to someone else for selfish or superficial reasons. I believe this is exactly what Robert Nozick was aiming toward in his work as well. My opinion is that life should be accepted as a gift which was given to us or an opportunity rather than striving to turn it into a race of satisfying desires and fulfilling ideas or concepts. I strongly believe life should be simply lived in harmony with everything around us and I would encourage anyone to consider the idea that life is not happening to us, but rather that we are happening in life.