John Maynard Keynes, the Father of Modern Theoretical Economics Essay

John Maynard Keynes (5 June 1883 – 21 April 1946), a British economist known also as the father of modern theoretical economics, had made a great impact on contemporary economic as well as political theory. His ideas were tapped by governments for their fiscal policies. He is most well known on his interventionist policy when it comes to fiscal and monetary measures, specifically, to mitigate the undesirable effect of recessions, depressions, and even booms. An article from Time magazine on the 100 Most Important People of the Century, contend that â€Å"[h]is radical idea that governments should spend money they don’t have may have saved capitalism† (Reich, no date). As an economist, his first share of international fame was when he was selected as a delegate of the Paris Peace Conference of 1918–1919. It was during this conference that the victors of the World War 1 (specifically, Woodrow Wilson, Georges Clemenceau, and David Lloyd George) imposed war reparations on Germany. Keynes held his tongue during the conference but let out a roar as soon as he returned to England (Reich, no date). He wrote a book entitled The Economic Consequences of Peace. He wrote that the Germans would not be able to pay the victors. He called Wilson a â€Å"blind, deaf Don Quixote†, Clemenceau a xenophobe with â€Å"one illusion — France, and one disillusion — mankind†, and Lloyd George a â€Å"goat-footed bard, this half-human visitor to our age from the hag-ridden magic and enchanted woods of Celtic antiquity. † Keynes predicted that the reparations demanded by the victors would keep Germany impoverished and might ultimately threaten the neighboring countries if not all of Europe (Reich, no date). And we know that he is indeed right as if it was a prophecy. The book sold almost a hundred thousand copies on that period. But it was only later on after three decades that the real effect of his treatise was felt. After the end of World War II, both US and Britain (as victors of the war) remembered Keynes’ admonition. The best way to attain a lasting peace is by helping the vanquished start all over again – public investing to create trading partners and building solid democracies (like n the case of Germany, Italy, and Japan during that war; Reich, no date). Keynes founded that branch of economics that is termed â€Å"macroeconomics† today. This is his greatest influence in the history of economics. This actually came from a book he wrote during the depths of the Great Depression. The book was called â€Å"The general theory of employment, interest and money† (published on 1936). The idea is pretty much easy to understand: Governments should not leave the market alone when, and especially, the economy is running slow (interventionist policy of the government). It is during periods of dull economy or recession that markets are saturated and businesses either do not invest or reduce their investment. Such situation, according to Keynes, is a prologue for a very dangerous cycle: â€Å"less investment, fewer jobs, less consumption and even less reason for business to invest† (Keynes, in Wikipedia, The Free Encyclopedia). In 1942, John Maynard Keynes was raised to the House of Lords and was accord the title Baron Keynes of Tilton, County of Sussex. Keynes played a crucial role in the negotiations that transpired in the creation of the Bretton Woods system (the system/conference that created the World Bank, International Monetary Fund, and the World Trade Organization, as we know it today). He was the head of the British Commission and the chairman of the World Bank Commission. He was the brainchild behind the management of currencies between and among countries. He advocated the creation of a world central bank, the International Clearing Union, that will be responsible for the common world currency unit (Reich, no date; Keynes, in Wikipedia, The Free Encyclopedia).

Police Brutality. Is it increasing or is it all media hype Research Paper

Police Brutality. Is it increasing or is it all media hype - Research Paper Example Study results show more brutality among the minority and powerless in the population (Busby, 2001). A brief overview of police brutality Brutal police officers rationalize extralegal force claiming to punish the law breakers. Police officers except citizens differ from them always. Challenge by citizens is unofficial crime and police use physical force in eliciting the compliance. Many nations in the world formulate laws addressing the police brutality. Human rights organizations receive many complaints on use of excessive force by the police. Failure to prevent police brutality corresponds to the insular police culture. Most obvious police brutality is physical and verbal abuse. Many nations attempting legislating police brutality formulate laws on minority profiling (Tonry, 2008). Amnesty International (AI) on the American Police Brutality The major theme of AI campaigns is the police brutality in using excessive force. The rights for all indexes reflect the police beatings, danger ous restraint techniques and unjustified shootings. Harassment disproportionately affects the minority based on races and ethnic groups. Various incidents cited by AI reflect unjustified practices of police misconduct. Despite restrictions on use of excessive force, the police officers in US use excessive force indiscriminately; police officers kill citizens through shootings. Nevertheless, criminal charges to the few officers remain untried. This systematically hides the abuse and causes persistence of the impunity. Reports by local media rarely reflect scandals on police brutality. The footage on the dramatic increase in negative actions by police officers perpetuates negative attitudes among the citizens (Tonry, 2008). Police Brutality Excessive use of force by police officers is brutality. It is a practice that disregards the status of citizens, restricts their freedom, annoys and harasses them, and uses unwarranted physical force. It is citizens’ judgment on failure of t reatment with the full rights and dignity by the police officers within the democratic society. The categories of complaints by the citizens concerning police brutality include excessive force and the abuse of the police power (Holmes, 2000). Despite the variation in estimates, incidences of the brutality by police are infrequent. Use of excessive force affects both the police officers and the citizens subjected to the force. Many riots result from misconceptions by the citizens on misuse of force by the police. The 1919 riots following the arrest of Rodney King in Chicago reflect public conception of the misuse of force by the police officers. After his release from custody six months before, Rodney King’s attack depicted the brutality of the police officers. Police officers pursued him in a chance deployment; police cars and helicopter chased after him (Busby, 2001). When he surrendered, police officers surrounded him in a semi circle. Contradicting reports rose up regardin g what happened afterwards. According to the police, King tried to stand up when handcuffed, he reached for the pocket of his pants making officers suspect and fear any weapon. However, reports from witnesses were extremely different from the officers’. Rodney reported of electrocution and handcuffing by the police officers. Citizens air complaints of racism and brutality among the police. One among the four officers beating Rodney King had time and again used excessive force on the citizens. Other

Role of HR in Knowledge Management Research Paper

Role of HR in Knowledge Management - Research Paper Example Most of the organizations do not effectively utilize Human Resources’ contribution for the effective implementation of Knowledge Management. If people are managed effectively and their knowledge utilized efficiently, then evidently it can become a competitive advantage. Relying on modern information systems will be fruitful if people are actively involved in knowledge sharing. The different areas of Human Resources which help in effective knowledge sharing are reward systems, recruitment, retention, succession planning and training and development. The first and most obvious area of Human Resources involvement in Knowledge Management is reward management. It is very clear that employees will not be ready to share their knowledge and expertise until and unless they are rewarded. Rewards will motivate them to share their knowledge and it is purely on the shoulders of Human Resource people to undertake this task. This way H R enables knowledge sharing in different departments. In case of recruitment, retention and succession planning from a Knowledge Management perspective can be looked at as filling knowledge gaps. While recruiting new employees, they can select candidates who are more creative and innovative and can adapt themselves to the changing work environment. Also, retention of good employees is necessary. The HR policies and procedures should be designed in such a way that they allow employees to meet their personal objectives. Succession planning, on the other hand, is about planning to meet future skills and knowledge needs with existing resources. Human Resources’ involvement and its contribution is perhaps the greatest in training and development. Human Resources should get itself actively involved in the technological developments in the workplace as they can train the employees accordingly. Training is necessary for individuals to work in teams as co-operation and sharing of information brings in benefits for the whole organization. T hough Human Resources’ contribution is inevitable in the area of Knowledge Management, it has certain limitations as Human Resources and other departments are most in conflicts. This can be seen as a limitation of Human Resources’ intervention in effective Knowledge Management. Employees in other departments need to support the HR people for effective knowledge sharing as HR people becomes the mediator in knowledge sharing. This is not Human Resources’ role alone but its contribution is necessary. Building a culture for Knowledge management on certain values will require changes in systems and processes, and a way of doing things which both transmits the organizational culture to new employees and reinforces it to old employees. As with any change situation, conflicts can arise. This is where Human Resources can contribute to the development of the Knowledge Management culture by handling such conflicts. According to Chivu and Popescu (2008),  in terms of know ledge migration, Human Resource may play a major enabling role in helping identify the potential of knowledge migrants. According to them, the HR process with regard to knowledge management involves HR sought assessment and selection, HR sought training and development, HR sought appropriate communication, reward and recognition schemes and knowledge

CompareContrast Nathaniel Hawthorne's heroines in The BirthMark and Essay

CompareContrast Nathaniel Hawthorne's heroines in The BirthMark and Rappaccini's Daughter - Essay Example This has led to a few of them being described as "dark heroines" (Bell, 20); Beatrice Rappaccini, the bewitching daughter of the brilliant, but sinister scientist Rappaccini and to a lesser extent, Georgiana Aylmer, the beautiful young wife of the obsessed scientist Aylmer, are examples of poignant, yet powerful 'dark heroines'. This short essay shall compare and contrast the heroines of two of Hawthorne's short stories, 'The Birth-Mark' and 'Rappaccini's Daughter' respectively. This essay shall cite appropriately from them and other secondary sources to show that, while both the heroines testify to their purity of character by their ultimate sacrifices, Hawthorne's portrayal of Beatrice Rappaccini more than Georgiana Aylmer, aptly suits a 'dark heroine'. Both 'The Birth-Mark' and 'Rappaccini's Daughter' of Hawthorne warn the society regarding the excessive pursuit of science and technology without morality. The stories end as tragedies with the heroines falling victims to the evil obsessions of the dominant men around them. In 'The Birth-Mark' Hawthorne depicts his heroine Georgiana as a powerful image of beauty, that she is praised by her husband Aylmer as one who "came so nearly perfect from the hand of Nature" (The Birth-Mark 1021). She is young and beautiful, but for one "visible mark of earthly imperfection" (The Birth-Mark 1021) on her cheek. ... er husband in particular, and the male world in general perceived as negative - "Masculine observers contented themselves with wishing it away, that the world might possess one living specimen of ideal loveliness without the semblance of a flaw" (The Birth-Mark 1022). Indeed this becomes the focal point of the story itself, and ultimately causes her death. Hawthorne introduces the element of evilness in the form of Aylmer, young Georgiana's science-loving husband; what was trivial matter to him before marriage, appears "more and more intolerable with every moment" to him after marriage, and he is obsessed with removing it, so as to make her perfect. "I am convinced of the perfect practicability of its removal" he retorts to her innermost fears of it being fatal. Here again Hawthorne introduces the element of fantasy in the form of Georgiana's dream, of approaching doom. He scorns, scoffs, chides, coaxes and cajoles her (The Birth-Mark, pp. 1027-8) to have trust in his science, and even tries to hide the fact that it may be "dangerous" (The Birth-Mark, p.1030). Though Hawthorne's heroine is aware that the experiment may not be to her advantage, she is sweet and pure in character, loves her husband so much that she is unable to see him pained over the blemish in her cheek. She would rather give her life than allow it to stand between their happiness, and begs him "Remove it, remove it, whatever be the cost, or we shall both go mad!" (The Birth-Mark 1030) That her love is pure and untainted is explicitly brought out by Hawthorne through her quiet words "There needed no proof; Give me the goblet I joyfully stake all upon your word" (The Birth-Mark, 1031). She remains true in her love for her husband, till her dying moment, though she allows him to realize his folly of

New venture creation Essay Example | Topics and Well Written Essays - 2000 words

New venture creation - Essay Example Richard Cantilon defined Entrepreneur as a person who tends to buy services at a certain prescribed prices with a view to sell it at an uncertain price. Therefore according to Cantilon an entrepreneur is a bearer to risk and which is not insurable. Another renowned French economist has defined Entrepreneur as an agent who basically unites all the necessary factors of production and who finds value of the products which re-establishes the capital that the entrepreneur employs along with the interest, wages, rent which is paid by the entrepreneur and the profit earned belongs to the entrepreneur. He may not supply capital but should have the knowledge, judgement and perseverance towards the business and possess the art of administration and superintendence (Mohanty, 2005, p.1-2). Each of the definition views an entrepreneur from a different angle and perspective but contains similar notion such as risk taking, creating, organising, wealth and innovation. Therefore Entrepreneurship is d efined as a process which aims to create something new with value and is created by devoting the accurate time as well as effort accompanying with financial, social risk and at the end receiving the desired result or reward of monetary and also of personal satisfaction as well as independence (Hisrich, 2003, p.8). In the process of making entrepreneurship there is a body of research who has been trying to identify the factors of what makes an entrepreneur actually an entrepreneur and most importantly what makes him successful. Is the in born quality of a person or whether the qualities can be natured? It has been founded that entrepreneur are particularly attuned to the universal and also the human trait which is the desire for freedom (TiE Organisation, 2003, p.17). Some of the characteristic and traits of an Entrepreneur includes factors such as risk taker where an entrepreneur usually bears all the uncertainty and defines and

Step Motor Driver For Full Step, Half Step Excitation Mode Lab Report

Step Motor Driver For Full Step, Half Step Excitation Mode - Lab Report Example For a bipolar motor, an external device referred to as an H-Bridge can be used to reverse the polarity of the winding and thus the flux. An H-Bridge can also drive a unipolar motor by not connecting the center tap (common) lead or use only one of the windings in the pair. Using the given state machine states and truth tables, the driver circuits for all the three modes of stepper motor excitation were designed and simulated. The following are the diagrams showing the truth table and state machine states with actual motor motion in this design, the no load or constant load accuracy of a 7.5 degree/step motor is within 0.5% noncumulative. It simply implies that the positioning error is the same whether the rotational movement is one step or 1000 steps. Since the step error is noncumulative, it averages itself out to zero within a 4-step sequence, which corresponds to 360 electrical degrees. This causes the transistor collector/emitter junction to conduct. When transistors Q1 and Q3 on, the current flows through the motor coil in the forward or + direction. However, when Q2 and Q4 on, the current to flows through the motor coil in the reverse direction. In the experiment, only half step truth table was presented. However, if you compare the half step and full step tables, it's noticed that all of the full step sequences appear in the half step table, even though not in the same order. This information was useful in the circuit design, especially when writing the codes for the microcontroller.

Social computing Assignment Example | Topics and Well Written Essays - 3000 words

Social computing - Assignment Example Ideas of social computing are illustrated from the use of social software that include email, blogs, instant messaging, wikis, social bookmarking, and social network services among others. In deeper sense, social computing involves technologies that allow various computations to be carried out by different groups of individuals in the world where the users produce value to the new applications by contributing content, ratings, links, tags, and other software components. Web 2.0 is the concept that is related closely to social computing and is the framework of the various applications that support the process of social computing. Ozok et al (2011) affirmed that the application of social computing within organizations motivates and empowers the employees and hence creating many benefits for the businesses in the society. This study will first present the benefits of social computing at various sectors including the paradigms of mobile social computing, disadvantages and the challenges of social computing. The paper will then discuss the future prospects of the information management tools of social computing in organizations. Yang et al. (2012) observed that social computing is significant in organizations as it helps in the motivation and empowerment of employees hence resulting in successful businesses. For instance, Windows SharePoint Services (WSS) is type of social computing that provides the employees of organizations a platform to create, manage, share documents and to customize Web services hence enabling the employees to improve their services for the organizations. Social computing is important as it enables the businesses to promote their various brands of products and have a closer relationship with their customers. Chua (2007) stated that the customer relationship management (CRM) of organizations is enhanced by social computing as it gives the businesses a chance to