Ritual – wine taralli

Nonna's Wine Taralli In a tiny house surrounded by a forest of fig trees in Rende, Cosenza, Calabria, my great great grandmother taught her little granddaughter how to make â€Å"Nonna's Wine Taralli. † That little girl would eventually become my grandmother and she would also teach me the art of wine taralli-making. Two cups of my grandfather's homemade white wine, fourteen ounces of canola oil and sugar, two teaspoons of baking powder, an envelope of â€Å"Lievito Bartolino,† three and a half pounds of flour and â€Å"un po' di aranzi,† as my Italian grandmother says, which are the licorice-flavoured seeds of the nise.These ingredients combine to make â€Å"Nonna's Wine Taralli† – a cookie-textured, ring shaped and slightly sweetened version of the traditional Italian taralli, whose recipe has been passed on for generations by the women in my southern-Italian family. Come fall and spring, a grandmother makes an abundance of wine taralli in the pre sence of daughters and granddaughters who watch intently and help accordingly.According to Searle's Taxonomy, the making of â€Å"Nonna's Wine Taralli† is regarded as ritualistic behavior as it is collective, formal, performance and formative, trengthens existing social statuses and relationships, and exudes ultimate goals. To begin, the making of â€Å"Nonna's Wine Taralli† is consistent with Searle's Taxonomy as it is collective, meaning there are at least two people (Searle 19) as well as formal since it calls for conformity, cannot be improvised and is not spontaneous (20). The activity is collective. It involves at least two and at most three women: a grandmother, her daughter and her granddaughter in any which combination.The activity is formal. Each and every ingredient is essential. There is not much, if any, room for improvisation. The flavour is entirely dependent on each and every ingredient. If certain ingredients are missing, sacrificed or substituted, the wine taralli will not taste as they are expected to taste and should taste. There is not only an expected taste, but also an expected and fixed order of events. The beating of the oil, sugar and white wine come first, followed by the sifting of the flour, baking powder, â€Å"Lievito Bartolino† and â€Å"aranzi,† then the kneading of the dough, the cutting of the strips and finally, the formation of the rings.Furthermore, the activity is performance. It can be seen as performance as it is bodily and demands its participants submit to a particular role (22). The activity involves the beating and sifting of the essential ingredients and the kneading of the dough through folding, pressing, and stretching, which require steady hand and wrist movements. It also involves roles which are quite fixed and unchanging. I recall standing on top of a chair in order to reach the counter of my grandmother's kitchen at the young age of five.I watched her perform er role which involve d kneading the dough with her strong hands as I waited anxiously for my role to come, which consisted of rolling the soft dough into strips and then forming them into the taralli's distinct ring-like shape. Throughout the years, the roles between my grandmother and I have remained the same. Finally, the making of wine taralli is formative and strengthens existing relationships and social statuses (24). An abundance are made to last several months since we gather only twice a year to make them.Since so many ot them are being produced at one time, he participants, especially young granddaughters like myself, have the opportunity to develop the ability to create and perfect the art of taralli-making. It also allows participants to strengthen existing familial and cultural bonds and social statuses. The familial bond between grandmothers, mothers and daughters and the familial status of being a member of this particular family are present and strengthened. The cultural bond that is shar ed in being members of the Italian heritage is strengthened by the practicing of an age old cultural tradition.The bond of womanhood is trengthened in that the participants are exclusively Italian women from the same family. These bonds are present while not explicitly stated. While there is only a small group of participants, the bonds and social statuses that are shared amongst them are strong and meaningful. A popular Italian saying that is spoken by my grandmother when making wine taralli is, â€Å"one can resolve any argument over a glass of wine and a handful of taralli. † As I get older, it becomes more clear to me what the ultimate goals of this ritual are and how they are achieved.

SCI Case Study

1. Why did Allen’s heart rate and blood pressure fall in this time of emergency (i.e. at a time when you’d expect just the opposite homeostatic response)? Pg. 969 This occurred because Allen’s spinal cord has decreased perfusion due to damage, and a broken vertebral bone. Also, there has been a disruptions of the sympathetic fibers of his autonomic nervous system therefore it can no longer stimulate the heart. Allen likely has spinal shock.2. Upon admission to the hospital, Allen’s breathing was rapid and shallow, can you explain why? Pg. 969 Due to Allen’s fall he likely has an incompetent diaphragm due to injuring a cervical segment. This would alter effect the lower motor neurons and external intercostal muscles. This would cause his chest x-ray to show a decreased lung expansion. This may have caused Allen to have to take rapid shallow breaths to maintain oxygenation. Overall, interruption of spinal innervation to the respiratory muscles would a lso explain his acidotic state.3. Why did Allen lose some sensation to his arms and all sensation from the upper trunk down? This is because Allen’s C5 segment was injured. Therefore, the dorsal column tracts and spinothalamic tracts were altered. This would cause Allen to have lost and decreased sensations.4. Why did Allen have dry skin and a fever upon admission to the hospital? pg. 970 The rationale for the dry skin and fever is that Allen had lack of sympathetic and hypothalamic control. Therefore, his body adapted to the temperature of the environment as wells as attempting to increase extracellular fluid. Overall, spinal shock would result in these symptoms along with decreased sweat production resulting from decreased sympathetic motor neuron stimulation.5. Based on the physical exam findings, which vertebral bone do you think was fractured? Give reasons for your answers? Pg. 969 Based on the physical findings I would say Allen’s fracture occurred at C5. I belie ve this is  where the fracture occurred because Allen had minimal biceps brachial stretch reflex, was able to raise his shoulders and tighten them, and could tighten his biceps.In addition Allen could not raise his arms against gravity, had flaccid lower extremities, and was without triceps or wrist extensor reflexes, and other muscle stretch reflexes were absent. If the fracture was at C4-5 Allen would not be able to shrug his shoulders and if the fracture was at C7 he could extend his flexed arms. Top of FormBottom of Form6. What is the normal pH of blood? Why was Allen’s blood pH below normal? Pg. 970-971. The normal blood pH is between 7.35 and 7.45. Allen’s blood was acidotic due to a decrease in lung expansion and an alteration in the perfusion to his spinal cord. He also has an alteration in spinal innervation to the respiratory muscles including the phrenic nerve that controls the diaphragm. This would further cause Allen to not be able to adequately take in enough oxygen and blow off enough CO2 to adequately have gas exchange, within the alveoli. Respiratory failure.7. What is the primary muscle of respiration? What nerve initiates this muscle? The primary muscle of respiration is the diaphragm. The nerve that initiates this muscle is the phrenic nerve.8. Which spinal neurons to the nerve you named in question #7? Pg. 969. The cervical spinal nerve C3-5 innervate the phrenic nerve. These are the lower motor neurons.9. By four days after the injury, some of Allen’s signs and symptoms had changed. Allen’s arm muscles were still flaccid, yet his leg muscles had become spastic and exhibited exaggerated stretch reflexes. Use your knowledge of motor neural pathways to explain these findings. Pg. 969. Allen is experiencing these signs and symptoms because he is his spinal shock is now resolved. Therefore his lower motor neurons will then be able to fire impulses unlike the upper motor neurons due to the injury being at C5. There fore, due to his cervical injury muscle spasticity, bladder activity, and reflex activity will begin. This is called spastic paralysis.10. Why did Allen suffer from urinary incontinence? Pg. 970. Allen suffered from urinary incontinence because of autonomic dysfunction. Initially autonomic dysfunction causes an areflexic bladder, also known as a neurogenic bladder. This means his bladder had zero ability to contract. Autonomic dysfunction then leads to urinary retention.

A Fitness Center Where Every Body Benefits Marketing Essay

A Fitness Center Where Every Body Benefits Marketing Essay Entrepreneurship project that was assigned to us was to make a business plan of a new business venture. The report covers the core concepts that are involved in the making of and implementation of a new company’s business plan. Identifying the opportunity and taking the initiative towards something novel and different, a new venture concept that I have decided is a fitness center. This report contains about the company, identification of the target market, strategies to penetrate in the target market segmenting it to different locations, the industry analysis, marketing plan and positioning of the company, effective pricing strategy, how to promote it to clients through different strategies of advertising and promotion, the operational plan for the early stages of the company and the financial factors that are major challenges for the company THE BUSINESS Our vision: To make BODYFIT a place where every body benefits. Mission statement: Your fitness is our priority. We strive to provide you a safe, healthy and secure fitness environment. where customers can achieve their fitness goals. Our professional, expert and qualified staff is committed to the highest level dedication that ensures the satisfaction of customers’ fitness with motivation and quality Opportunity (potential business): We are going to launch new company in Islamabad, Pakistan which is basically a fitness center/club. In Islamabad, there are already few companies that are providing such services like FIT n FLEX, METAFITNOSIS, and FITNESS FIRST, ULTIMATE GYM etc. so there is a room for a new fitness center to establish and capture the market and response. As we have recently seen this trend that people are becoming conscious day by day about their health and fitness and they want such a place where they can get fitness under proper guidance from professionals. So by setting up our fitness center we can cater the needs of our customers by providing unique services under one roof, and get our market share in health industry. MANAGEMENT STRUCTURE Board of Directors: initially the board of directors will be the inside investors who providing with the necessary funding and investment to the company. Law firm: Accounting firm:KPMG Consulting firm: The management team is very crucial for any business success. Our team consists of dedicated members who strive to achieve the maximum benefit for the organization and its customers. Of them MD will play vital role in management by using his expertise and knowledge in the smooth and efficient running of the organization. He would have to oversee and control all the major departments of the company. COMPANY STRUCTURE & INTELLECTUAL PROPERTY The company would be established under the legal structure of: Private LTD Company. And the brand name would be protected through registering the company name so that it cannot be copied. As per requirement patents and copyrights would also be applied for. The company will consist of the following departments and their duties would be as follows:- Management department As our vision and mission statement, management departments’ aim is to translate vision and mission in strategic manner to achieve the targets and goals. As this department is the backbone of any organization. The managing Director (MD) will control the structure of the organization.

Authority Essay Example | Topics and Well Written Essays - 1000 words

Authority - Essay Example military, the importance of authority in the military, and also what may happen if authority is either lacking or not respected by the appropriate subordinates. Before exploring how authority is used in the military, it is important to understand what the word means and the ideas that it implies. The Collins English Dictionary offers up a variety of definitions, such as "the power or right to control, judge, or prohibit the actions of others," or "such a power or right delegated, especially from one person to another," or "the ability to influence or control others" (Collins). If we dissect these definitions one-by-one, we can see a recurring pattern across all three: power. Authority can only be gained through power, mostly due to the position that someone holds. A high up position can give someone authority over others because of their job description, which likely allows them to offer guidance to subordinates. Another component of the word authority is that it is delegated or assigned, typically from one person to another. Authority is often found in a chain of command, with those towards to top of the tree afforded more authority than p eople lower down the food chain. Also, authority usually is a two-way street between leaders and followers. There has to be a relationship between each set of individuals and both should know where they stand in the relationship; only in an equal relationship will there be no need for either party to have authority over the other. Informal relationships are often like this, whereas in formal situations authority is necessary in order to preserve some sort of organization within large groups of people. Finally, the definition of authority involves influence or control applied by one person over another. In less formal situations, a leader will look to influence his or her subordinates but not control them. Controlling a group of people allows little room for them to be creative and think outside the box. In formal organizations,

Miracles of the Quran Essay Example | Topics and Well Written Essays - 1250 words

Miracles of the Quran - Essay Example It was revealed piecemeal to him in twenty three years, starting from when he was forty, till he died at the age of sixty three. The book was not compiled during his lifetime, with many Muslims memorizing it by heart; some years afterwards, a lot of these memorizers, or Hafiz, were killed in battle, therefore, the Muslim Caliph Usman decided to get it compiled. The compilation of Quran in its present form was, hence, done under the Caliphate of Usman. The Muslims believe that the Quran is the direct word of God. They believe that the angel Gabriel, or Jibra’eel, came to the Prophet Muhammad and revealed the word of God to him, which the latter disseminated amongst his followers. Muslims further believe that the word of God, the Quran, is revealed to be a source of guidance and direction for all humanity. The fact that they consider it the last revelation of God to mankind further stipulates that Muslims consider this to be the last guidance sent to man from God. This entails t hat they spend their lives trying to live according to the edicts of the Quran, and trying to bring their lives as close to the commands of the Quran as possible. The Muslims consider this to be a book from God for a multiple of reasons. One reason, as is put forward in the Quran itself, is that such a book, with its poetic and miraculous nature could never be produced by man. In the second Chapter, or Surah, of the Quran (the Cow, or Al-Baqarah), it is said â€Å"And if ye are in doubt as to what We have revealed from time to time to Our servant, then produce a Sura like thereunto; and call your witnesses or helpers (if there are any) besides Allah, if your (doubts) are true† (verse 23). Furthermore, the Muslims believe that there have been miraculous claims in the Quran that are further testament to it being the word of God. These include various predictions or prophecies in the Quran that were later fulfilled. One such prophecy relates to the body of the Pharaoh (the Phara oh said to have oppressed the Jews); when relating the story of his death, God thus speaks to the Pharaoh in the Quran â€Å"This day shall We save thee in the body, that thou mayest be a sign to those who come after thee! but verily, many among mankind are heedless of Our Signs!† (10: 92). The mummified body of a Pharaoh in an Egyptian Museum in Cairo is said to have been that of the same Pharaoh, thus the Quran’s prophecy regarding his body being preserved has proven to have come true. Further, a few years after the Byzantines had been defeated by the Persians completely, a revelation of the Quran said â€Å"The Roman Empire has been defeated – In a land close by; but they, (even) after (this) defeat of theirs will soon be victorious – within a few years†¦Ã¢â‚¬  (60: 2-4). This seemed impossible as the Byzantines had incurred heavy losses and the Empire seemed to be at the brink of total annihilation, however, a few years after this revelation, t he Persians were, indeed, defeated by the Byzantines. Moreover, in Chapter 48 of the Quran, a prophesy is given regarding the taking of Mecca: â€Å"†¦ye shall enter the Sacred Mosque, if Allah wills, with minds secure, heads shaved, hair cut short, and without fear†¦Ã¢â‚¬  (27). Some time afterwards, Mecca was indeed conquered by Muhammad and his followers, and they did enter the Sacred Mosque, or Kaaba, in the same condition described herein. Also, there have been some statements in the Quran that have been recently proven to be scientifically accurate. For example, when a verse of the Quran says â€Å"By the Firmament which returns (in its round)† (86: 11) and â€Å"

What is strategic HRM To what extent and in what ways might HRM have a Essay

What is strategic HRM To what extent and in what ways might HRM have a strategic role to play in organisations - Essay Example In addition, the traditional employees’ motivators have changed and individuals are given more decision-making power. As the result, the role of HRM is also changing. HRM is already recognized to have influence in overall organization effectiveness. Human Resource strategy is focused on integrating different HR practice into businesses to provide competitive advantage. â€Å"HRM cannot be viewed as the separate function of business unit because the alignment of HR processes with business strategies is of primary importance† (Armstrong 2002). Despite of technological advances, the knowledge and skills of employees are the key source of organizational efficiency. According to the statistics in UK, the HR specialists have the seat on the Board of Directors in almost every company. Thus, the HR department has the significant level of influence within an organization. As many as 54 percent of HR managers in UK are involve in the development of overall company strategy. Having the right people on the right positions determines the organizational success. Companies are become more oriented to global markets and as the result, the personnel becomes culturally diverse. Ensuring â€Å"the productive cooperation of multicultural individuals is vital for strategy accomplishment† (Tyson 1995). If the company wants to succeed, having flexible, effective workforce is the first step to start with. For this reason, there is the tendency to outsource HR activities to professional agencies. Recruitment, training, consultations, team building and even downsizing are the services provided by outside professionals. Despite of the increasing need to implement strategic Human Resource Management, there are several concerns that challenge the transition from traditional to strategic functioning. Globalization has increased to need in â€Å"well-educated, trained and flexible workforce† and â€Å"individuals

Brief of Maple Farms, inc vs City school district of Elmira Case Study

Brief of Maple Farms, inc vs City school district of Elmira - Case Study Example Maple Farms signed a contract with the â€Å"City School District of the City of Elmira† to supply milk at a fixed cost. They settled to supply the milk to â€Å"City School District of the City of Elmira† (defendant) for the year 1973 to 1974. This was in accordance to the agreement on15th June 1973 at a fixed price of 0759 dollars for every half pint. During that time the mandated cost of raw milk was 8.03 dollars per cwt where the United States Department of Agriculture was in control of the milk at the farm. The change in the market was not contemplated by the plaintiff as they had committed to a Fixed Price Contract with the defendant (Miller 19). The farm was aware that the milk price was liable to change, but there was not any clause included to excuse it. Marple Farm was, therefore, found in a hard situation when the milk prices inflated. In the year 1973 there was a tremendous increase in the milk price of 9.5% from the date the contract was signed. The plaintiff, therefore, requested the defendant to relieve them of the contract as they were incurring huge losses but the defendant refused. The farm stated in details that they would incur a loss of $7,350.55 if they continued supplying the same amount of raw milk (Miller 64). Marple farm was sued for Declaratory Judgment that performance was not practical with the agreed price but the court still held them responsible for the sale of the milk to the school. The plaintiff claims further that The Federally Sponsored Milk Lunch, would further decrease the price of the milk hence increasing the losses. The defendant was still not willing to cancel the contract even after the request (Miller 14). The legal basis of the plaintiff to be relieved of the contract is in the doctrine of the Uniform Commercial Code. It considered as "impossibility of performance,"

Antonio Gaudi Research Paper Example | Topics and Well Written Essays - 1750 words

Antonio Gaudi - Research Paper Example Using modern decorative tools of ceramics, glass and color of the Art Nouveau school, he introduced innovative techniques in the processing of materials. By the end of the nineteenth and beginning of the twentieth century, Gaudi had secured his place as an architect beyond orthodox modernism, creating a personal style based on the observation of nature, using its geometric patterns as well as color, texture and structural and decorative allusions to emulate nature in architecture. Now, nearly one hundred and sixty years after his birth, and over seventy since his tragic death in a street accident, Gaudi has finally transcended his local fame as a Spanish icon and become internationally recognized as the prime architect of the modern city of Barcelona. His famed Sagrada Familia, a cathedral of enormous architectural and landmark proportions, is recognized not only as a design phenomenon of universal importance, but as a major contribution to modern ideas regarding religious architectu ral representation. While Gaudi’s work was initially met with incomprehension, mockery and outright hostility from both the professional architectural world and the populace of Barcelona, the passing of time and further scrutiny has been kinder. His work now is considered the prime example of nature combined with architecture in its purest, most original and spectacular forms. Evidence of this is replete in his major works. A Dedication to Natural Form Religiously dedicated to the extreme from childhood, plagued by rheumatic ailments from an early age, Gaudi, unable to play with other children, spent time observing the world around him and drawing what he saw. It was during this time that he developed his keen observation of the elements in nature destined to later influence his architectural designs. Somewhat of a mathematical genius, throughout his life Gaudi also studied nature's angles and curves and incorporated them into his designs and mosaics. Hyperboloids and parabol oids he borrowed from nature were easily reinforced by steel rods, allowing his designs to resemble elements from the environment. In Gaudi’s view, â€Å"Those who look for the laws of Nature as a support for their new works collaborate with the Creator.†1 Given this, and his religious bent coupled with a childhood spent ill, isolated and contemplative in the country, it is not surprising that Gaudi’s design sense would reflect his intense interrelationship with God and nature. The elements found in Gaudi’s nature-inspired work--sometimes alluded to as biomimetic, are obvious to the informed structural observer: catenary arches, spiral stairways, conoid-shaped roofs, and a new type of tree-inspired column that uses hyperbolic paraboloids as its base. Ornamental aspects have their own identifiers: honeycomb gates, vine-inspired frieze, diatom-shaped windows, gargoyles depicting animals displaced by the church’s construction, and pinnacles in the for m of grasses and pyrite crystals. Gaudi’s dedication to nature is always reflected in his insistence upon color, â€Å"as nature does not present us with any object that is monochrome or completely uniform in colour.†2 Following in that vein, the artist went well beyond color in his quest for the incorporation and refection of natural elements. Unlike many of his contemporaries, Gaudi for his models

The Law and the Constitution Essay Example | Topics and Well Written Essays - 1250 words

The Law and the Constitution - Essay Example V. Dicey who made a robust restatement of this very old doctrine at the end of twenty-century. According to A. V. Dicey the principle of supremacy and sovereignty is the basis of the British Constitution. Parliament itself is not capable to confine its own future proceedings, courts cannot inquire or decline to give effect to its ratifications, and all other law-making institutions in the United Kingdom are secondary to it.Supremacy of Parliament is so magnificent and supreme, that it cannot be restricted, either for reasons or persons, under any circumstances. (Jennings, 1959) In other words, Parliament's supremacy can be estimated from the fact that it can do each fascination that is not naturally unattainable. The initial portion of Dicey's Law of the Constitution was dedicated to defying the unorthodox impression that there might be supposed boundaries to sovereignty and supreme. Dicey highly declared that the Parliament had authority and power to make or unmake any law whatever. For historical authority, Dicey naturally sought recourse to the Act of Settlement and to the pervasive constitutional traditions that dangle about the great and glorious revolution of 1688. Sovereignty had to be free, and it was for this motive that Dicey appeared so sideways at the very suggestion of international law, or undeniably those legal orders that sought to somehow share authority and power. Supremacy of Parliament can be divided into three significant essentials: firstly Parliament can formulate or unmake any law; secondly Parliament cannot force its heirs and lastly Courts cannot inquire an act of Parliament. In the light of the European Communities Act 1972 Parliament can still only do this if the legislation is not an EU parameter or instruction and is only conjugal legislation. Parliament cannot for instance rescind an Act that a EU dictate had structured the administration to make as they did in the case of Commission of the EC v United Kingdom (1979). Further the reality that Parliament cannot bind its successors is considerable. This originally predestined that a current, say Conservative government could not execute legislation that would come into power when a Labour government came into power. Now this refers to the EU in that the British government cannot outdo any legislation that would in future conflict with any recommended legislation of European Union. M ost notably according to the doctrine of Supremacy of Parliament, the courts of United Kingdom are not capable to inquire an act of Parliament. It is the reason that any proceed of Parliament is the ultimate law of the land, obligatory all through the territory, and alterable only by another act of Parliament. Parliament is defined as a congregation poised of the Commons, the Lords chronological and devout, and the Crown. Only these three institutions acting collectively include the sovereign Parliament, and were able to make law supreme throughout the realm. The Crown, Lords, and Commons unprejudiced each other; their contending interests fashioned political strains within Parliament to efficiently contain its implementation of unbounded supremacy. The Crown in Parliament obsessed total and unrestricted legislative supremacy, having the right to make or

Organizational Development Research Paper Example | Topics and Well Written Essays - 5000 words

Organizational Development - Research Paper Example In the last section, the study has recommended OD intervention strategies for the organization in order to improve its performance. The research paper has also suggested evaluation technique which can monitor the efficacy of recommended OD interventions for the organization. Table of Contents Table of Contents 3 1.0 Introduction 4 2.0 Literature Review 5 2.1 Organizational Context 5 2.2 Theories of OD 6 8 3.0 Organizational Needs 10 4.0 Impact of Environmental and Internal Issues on OD 10 4.1 Labor Pool Diversity 10 4.2 Technological Advancements 11 4.3 Global Expansion 13 4.4 Ethical Standards 14 5.0 Recommended Intervention 14 5.1 Human process based intervention strategies 16 5.2 Techno-structural intervention 17 5.3 Socio-technical intervention 17 5.4 Organizational transformation (OT) 18 6.0 Success Factor for Recommended Intervention 19 7.0 Evaluation of Recommended Intervention 20 8.0 Conclusion 21 Reference 22 1.0 Introduction Gone are the days when organizations can stay at top of both organic and inorganic growth by banking on first mover’s advantage in sustainable manner, in hypercompetitive modern business environment, a particular organization need to be flexible and ready to change in order to keep going. The concept of organizational development (OD) was postulated by research scholars almost 50 years ago. According to supporters of OD, the concept can be used solving pertinent issues of change management for a modern organization as like other neo-classical concepts like business process improvement, business process re-engineering, organizational life-cycles and total quality management (TQM). According to Holland and Salama (2010), OD can be described as sustainable and one way improvement of activities for an organization. The scholars’ duos have also pointed out that, implementing OD process is a challenging task for an organization due to reasons like, First- the organization needs to breakdown its structure in partial or comp lete manner in order create room for newly implemented system, Second- the organization needs to adopt resource hungry intervention strategies in order to ensure efficacy of the change management process and last- the organization needs to influence its internal and external stakeholders to align their interest with common mission and vision statement of the change process. Holland and Salama (2010) have found that interaction of organization with the external environment decides the dynamics of OD process. Interesting fact is that, academic scholars state that OD is an initiative of top management to develop mid level and lower level organizational members but there are examples where employees develop themselves without seeking intervention from top management (Mulili & Wong, 2011). The concept of job security has changed after the recession during 2007-2009 and sovereign debt crisis and organizational members are enrolling themselves to flexible and lifelong learning process in o rder to remain employable in changing and harsh economic environment. Therefore it has been observed that employees are embracing various facets of OD process such as, off-the- job education, on-the-job training and many others. Now the question is can an organization improve its performance by using the theoretical framework of OD. Well, answer of this crucial question is the key essence of this research paper. Contextual analysis of OD process

International Human Resource Management Essay Example for Free

International Human Resource Management Essay 1.0 Executive Summary The world of international HR management (IHRM) is changing. As companies shift operations abroad, IHRM is moving beyond expatriate programs. Todays IHR managers are charged with scaling and managing overseas HR operations. This shift has not only created new opportunities for IHRM professionals, but also for companies looking to staff operations abroad. Possibly one of the greatest challenges facing the IHRMs is the fact that they are now dealing with not an individual employee but a whole family and their needs as a family in the relocation process. Some IHRMs find it more difficult than others to adjust to the added dimension of having to deal with the spouse and family on a more intimate level than before. After all, they are now relocating them halfway around the world and away from their support structures. They have to be prepared to get a lot more involved in the family as a whole and not just think they have to communicate with the employee only as is often the case when dealing with an employee here at home base. Throughout this assignment, we are examined the implications of differences in national culture for policy and practice in of the following aspects of human resource management: * Performance appraisal * Training and development 2.0 Training and Development Important components of international human resources management include both cross-cultural training and a clear understanding of the overseas assignment as part of a managers development. 2.1 Training Cross-cultural training is necessary for expatriates managers and their families before, during and after foreign assignments. As different countries have different culture, regardless how close of those areas, such as Taiwan and Mainland China, USA and Canada. Maybe they are talking the same language, however, their perception of social values, business practices are different. In Western, especially in USA, people are more individualism. In the contrary, Eastern people, such as Chinese and Japanese, people are more collectivism. The social system also different in Western and Eastern, the former is low power distant and the later is higher power distant. When those expatriates arrive, they are foreigners, not the host population, it is necessary to provide much cultural and practical background. Language training is an essential activity for everyone in the family. Although English is the dominant business language worldwide, relying on English puts the expatriates at a disadvantage. The expatriate will be unable to read trade journals and newspapers, which contain useful business information, and will be reliant on translators, which at best only slow down discussions in the process. Evan if expatriates manager is not fluent, a willingness to try communicating in local language makes a good impression on the business community. Foreign language proficiency is also vital for family members to establish a social network and accomplish the everyday tasks of maintaining a household. But cross-cultural training is much more than just language training. It should provide an appreciation of the new culture, including details of its history and folklore, economy, politics, religion, social climate, and business practices. It is easy to recognize that religion is highly important in daily life in the Middle East, but knowledge of the regions history and an understanding of the specific practices and beliefs is important to avoid inadvertently insulting business associates or social contacts. All this training can be carried out through a variety of techniques. Language skills are often provided through classes and tapes, while cultural training utilizes many different tools. Lectures, reading materials, videotapes, and movies are useful for background information, while cultural sensitivity is more often taught through role playing, simulations and meetings with former expatriates, as well as natives of the countries now living in the parent countries. While all this training in advance of the overseas relocation is important, cultural learning takes place during the assignment as well. After the overseas assignment has ended and the employee has returned, more training is required for the entire family. The employee also must adjust to organization changes, including the inevitable promotions, transfers, and resignations that have taken place during his or her absence. Teenager find reentry particularly difficult, as they are ignorant of the most recent jargon and the latest trends, but often are more sophisticated and mature than their local friends. The employee also must adjust to organizational changes, including the inevitable promotions, transfers and registrations that have taken place during his or her absence. Returnees are anxious to know where to fit in, or if they have been gone for so long that they no longer are on a career path. 2.2 Development In the current global business environment, the overseas assignment should be a vital component in the development of top-executives. It is not only to achieve the advantages for the individual in overseas assignment, but also an organization can gain the competitive advantages from their overseas employee. It is also a chance to provide the host counties employees to broaden their global perspective through a post in the parent-country headquarter, and may make it easier for the organization to recruit and retain better quality managers in the host country. Development is an essential activity to the individual to improve the individuals ability during the assignment and to well perform their jobs. 3.0 Performance appraisal In evaluating employee performance in international environments, other factors come into plays. For instance, the cultural differences between the United States and England are not as great as those between the United Stated and China, for example. Thus, hostility or friendliness of the cultural environment in which one manager should be considered when appraising employee performance. 3.1 The responsibilities of the evaluation There are also issues to consider regarding who will be responsible for the evaluations: the host-country management or the parent country management. Although local management would generally consider a more accurate gauge, it typically evaluates expatriates from its own cultural perspectives and expectations, which may not reflect those of the parent company. For example, in some countries, a participatory style of management is acceptable, while in other countries, hierarchical values make it disgrace to ask employees for ideas (for e.g. in Japan). This could vastly alter a supervisors performance appraisal. Confusion may arise from the use of parent-country evaluation forms if they are misunderstood, either because the form has been improperly translated or not translated at all, or because the evaluator is uncertain what a particular question means. The home-office managements, on the other hand, is often so remote that it may not be fully informed on what is going on in an overseas office. Because they lack access and because one organization may have numerous foreign operations to evaluate, home-office managements often measure performance by quantitative indices, such as profits, market shares, or gross sales. However, simple numbers are often quite complex in their calculations and data are not always comparable. For example, if a company has many operations in Fast East Asia, it must be aware of the accounting practices in each country. Local import tariffs can also distort pricing schedules, which alter gross sales figures, another often compared statistic. Evan when the measurements are comparable, the comparison country will have an affect. For example, factory productivity levels in Vietnam may be below those of similar plants in Thailand. Depending on where the supervisors results are compared, different outcomes may occur. Such issues complicate parent country management performance evaluations by numerical criteria, or indices and can add to the emotional levels in appraisals. 3.2 Evaluation Format Other issues surround the question of selecting the best format to use in performance appraisals, If we have an overseas operation that includes both parent country nationals and host country nationals, we must determine if we will use the same forms for all employee. While most Western countries accept the concept of performance evaluation, some cultures interpret it as a sign of distrust or even an insult to an employee. This complicates a decision to use one instrument like an adjective rating scale for all employees. On the other hand, using different formats for PCNs and HCNs may create a dual track in the subsidiary, in turn creating other problems. The evaluation form presents other problems. If there is universal form for the entire corporation, an organization must determine how it will be translated accurately into the native language of each country. English forms may not be readily understood by local supervisors. For example, clerical and office jobs do not always have identical requirements in all cultures. As a result, some U.S. multinational may be hesitant about evaluating HCNs and TCNs. In some countries, notably those that support the Communist ideology, all workers are rewarded only when the group performs with punishment or discipline being highly limited. For example, in the hotel industry in the Peoples Republic of China. Without the ability to reward good individual performance or to punish poor performance, there is little motivation to have any evaluation at all. Although the subject of international performance appraisal continues to receive research attention, two general recommendations have been suggested as follow: * Modify the normal performance criteria of the evaluation sheet for a particular position to fit the overseas position and site characteristics. Expatriates who have returned from a particular site or same country can provide useful input into revising criteria to reflect the possibilities and constraints of a given location. * Include a current expatriates insights as part of evaluation. This means that non-standardized criteria, which are difficult to measure, will be included, perhaps in different basis for each country. This creates some administrative difficulties at headquarters, but in long run will be a more equitable system. Bibliography 1. Peter J. Dowling, Denice E. Welch and Randall S. Schuler, International Human Resource Management Managing People in a Multinational Context, South Western College Publishing, 3rd Edition 2. Nancy J. Adler, International Dimensions of Organization Behavior, South Western College Publishing, 3rd Edition 3. David A. Decenzo, Stephen P. Robbins, Human Resourc Management, John Wiley Sons Inc., 7th Edition. 4. Ian Breadwell and Len Holden, Human resource management a contemporary approach, FT Prentice Hall, 3rd Edition

Chainsaw Al Dunlap Essay Example for Free

Chainsaw Al Dunlap Essay l â€Å"Chainsaw Al Dunlap†: A New Breed of Manager? West Point graduate Albert J. Dunlap, former chairman and CEO of Scott Paper Company, claims that the U.S. Military Academy made him â€Å"tenacious and very organized†. Others say his experience gave him an â€Å"inyour-face attitude rare among executives† and made him a valuable hired gun for straightening out troubled companies. Dunlap is known to attack and challenge nearly every premise and person that gets in his sight. Those who interfere with his efforts usually get chewed up by the experience. Scott Paper is a familiar brand name to the American consumer. Founded by Clarence and Irvin Scott in 1879, the company eventually became the worlds largest supplier of toilet tissue, paper napkins, and paper towels. As it matured, however, Scotts profitability suffered and growth stagnated when rival Procter Gamble took an increasing market share. Between 1960 and 1971, Scotts market share of consumer paper products dropped from 45 to 33 percent. In the period 1990 to 1994, Scott continued to lose market share, and in 1993, the company lost $277 million and saw its credit rating deteriorate. By 1994, Scott Paper was a moribund bureaucracy. In hiring Al Dunlap, Scotts board of directors signaled its determination to take decisive action. Dunlap initiated changes that would eliminate 11,000 employees (71 percent of headquarters staff, 50 percent of all managers, and 20 percent of hourly workers). He sold off unrelated business units — including publishing papermaker S.D. Warren Company, for $1.6 b8llion — and slashed spending — the research and development budget alone was cut in half, to $35 million. Not surprisingly, Dunlaps cost cuts and increased prices achieved immediate bottom-line results. The companys profitab8iliyy soared, as did the market value of its stock, which rose 225 percent under Dunlaps leadership. Dunlap claimed that by launching new products and selling unprofitable ventures, he had positioned Scott Paper for long-term positive returns for investors. Critics disagreed, seeing Dunlaps moves as constituting a short-term strategy to groom the company for a merger. In the words of one former marketing executive, Dunlaps strategy â€Å"became a volume-driven plan to pretty up the place for sale†. In fact, on December 12, 1995 , Scott shareholders approved a $9.4 billion merger with Kimberly-Clark Corporation. As for Al Dunlap, he enjoys his â€Å"chainsaw† reputation and believes that his approach is helping to change the norms of corporate behavior. However, according to Peter D. Cappelli, chairman of the management department at the Wharton Business School , â€Å"He is persuading others that shareholder value is the be-all and end-all. But Dunlap didnt create value. He redistributed income from the employees and the community to the shareholders.† Neverthel ess, the cuts continue. Kimberly-Clark plans to remove 8,000 workers from the combined companies 60,000 workforce by 1997 and to close Scotts headquarters in Boca Raton , Florida . One former high-level Scott executive believes that the company is now â€Å"just a hollow core.† Meanwhile Dunlap walked away with $100 million in salary, bonus, stock gains, and other perks. He offers no apologies for his approach: â€Å"Im not going to apologize for success†¦for all this, for hard work. Thats the freemarket system.† Dunlap does not believe that a business should be run for the stakeholders, such as employees or the communities in which they live, but for the shareholders-period. â€Å"Stakeholders are total rubbish,† according to Dunlap. â€Å"Its the shareholders who own the company. Not enough American executives care about the shareholders.† The real question is whether short-term stockholder gains are good for business down the road. Says Sarah Teslik, executive director of the Council of Institutional Investors in Washington, a watchdog group for big shareholders: â€Å"Dunlap holds himself up as a role model, but any company is apt to have significant stock runup if current costs are reduced by a huge amount. Thats no guarantee [Scott] will do well in the future.† On the other hand, some analysts contend that Dunlap has changed corporate America for the better. In a Financial World magazine poll, for example, CEOs voted he is now a high-profile business leader who will be sought out by the boards of other troubled companies to enhance shareholder value. It remains to be seen, however, what impact the short-term and long-term consequences of Al Dunlaps management theory will have on corporate America and the American workforce. Questions: †¢ Describe Al Dunlaps management approach. Does it fit any of the classical or modern approaches? Explain. How does it contradict some points in these approaches? †¢ Delineate the good points and bad points of a massive downsizing effort such as that undertaken at Scott Paper — as if you were a stakeholder, and then, as if you were a shareholder. Are your two lists different? Explain. †¢ What factors were the keys to increased productivity at Scott Paper? How was Dunlap responsible for the companys turnaround? †¢ Describe the kind of company that might hire Dunlap next. What goals might its board of directors have? What problems might the company face? What companies in the news today fit your description?

Drug Promotion in the Media

Drug Promotion in the Media THE GHANAIAN MEDIA AND CONSUMER PROTECTION: THE CASE OF THE (TRADITIONAL) MEDICINE INDUSTRY The issue of consumer protection has been widely discussed in many countries across the world and especially in the advanced countries. In recent times, this discussion has diffused into developing countries, especially in Africa and most particularly in Ghana. Also, the media’s integrity and ethics of Journalism has been extensively debated. The subject matter of using the media to promote drugs and drug related products to consumers directly has undergone much scrutiny lately. The literature on these issues is profuse, yet some notable ones will be reviewed in the subsequent paragraphs. To begin with, Julie Donohue in her article, â€Å"A History of Drug Advertising: The Evolving Roles of Consumers and Consumer Protection† (2006) queried the importance of direct-to-consumer advertising (DTCA) on drugs. Although she agreed on the fact that â€Å"the main tool of consumer protection laws is the disclosure of information in order to level the playing field between buyers and sellers† (p662), to her, this phenomenon actually encourages â€Å"self-diagnosis† and is therefore detrimental to consumer’s health. She blamed this problem on the legal and cultural changes in health care. In her own words, she argued that the â€Å"legal and cultural changes in health care brought about by the patients’ and consumers’ rights movements laid the groundwork for the DTCA of prescription drugs. DTCA was surely an unintended consequence of these social movements and may, paradoxically, serve to frustrate future efforts to protect patients and consumers† (p691). She further argued that the use of mass media advertising for prescription drugs misleads consumers into taking costly prescription drugs that they do not need. She opined that mass media advertisements were only intended to be a â€Å"vehicle for pharmaceutical manufacturers to tell end users about their products’and ‘not to help businesses market their products† (p662). According to her, drugs that advertised to consumers had the advantage of established brand recognition, and this is what has accounted for most pharmaceutical companies pushing their products to the mass media to be advertised. Also, in the book The Truth About the Drug Companies (2004), Angell Marcia, apprised us thoroughly on underpinnings of drug companies. Tracing their eruption from 1980, Angell, lamented the manner in which the pharmaceutical industry has not been innovative. To him, â€Å"only a handful of truly important drugs have been brought to market in recent years, and they were mostly based on taxpayer-funded research at academic institutions, small biotechnology companies or the National Institutes of Health. The majority of ‘new’ drugs are not new at all but merely variations of older drugs already on the market. These are called ‘me-too’ drugs†. (p3). He explained that the thinking behind these â€Å"me-too† drugs is to grab a share of an established, lucrative market and make profit. Thus, to him, drug companies spring up almost every day, not because they intend to bring any new product onto the market, but only to reproduce drugs which are already in existence, and with the motive of making profit. This motive informs their resort to the mass media for direct-to-consumer advertisements (DTCA) so as to gain advantage over their competitors. He thus advocates that the Food and Drugs Authority (FDA) must stiffen their approval of new drugs coming unto the market. Thus, to him, â€Å"the me-too market would collapse virtually overnight if the FDA made approval of new drugs contingent on their being better in some important way than older drugs already on the market† (p12). He is of the view that this measure would make drug companies focus on finding truly innovative drugs and also reduce the incessant and enormously expensive marketing necessary to jockey for position in the me-too market. Furthermore, in their article â€Å"Media Credibility and Informativeness of Direct-to-Consumer Prescription Drug Advertising†(2004), Huh et al evaluated consumer perceptions of the media credibility and informativeness of direct-to-consumer prescription drug advertisement and examined how those perceptions were influenced by consumer predispositions and demographic characteristics. To them, DTC advertisements are targeted mostly at â€Å"older consumers’’a segment that is particularly susceptible and vulnerable to commercial persuasion† (p29). This is because, to them studies have documented â€Å"various physical, psychological and social changes that accompany aging, including reduced sensory abilitiescognitive impairmentsthat can alter the communication process and result in decision-making difficulties and decreased resistance to persuasion† (p34). This trend, they argue is what has necessitated the insistence on media credibility because †Å"audience tend to rely on media they consider credible and informative† (p29) in choosing which drug to buy or not to buy. They argued that, in recent times, the basic objective of DTC advertisements are to â€Å"inform, persuade and remind consumers to take prescribed actions toward advertised drugs-to learn, to prefer, to ask for, and to ask for again† (p30). This, to them, is a significant departure from the original form of advertising, which concentrated on â€Å"influencing and maintaining demand for prescription drugs through the use of the push promotion strategy† and which took the form of â€Å"trade advertising directed at physicians and was used to deliver information that would work with other promotional tools to educate, persuade and help sell advertised drugs to physicians† (p29). Notable among their findings was the fact that â€Å"consumers place greater value on the information utility of the media of DTC drug advertising than its credibility as an information source about prescription drugs† (p53). Moreover, Burke et al in their article â€Å"Deception by Implication: An Experimental Investigation† (1988) set out to, among other things, measure the â€Å"misleading of two common types of advertising claims and their relative effectiveness for increasing consumer brand preference and purchase likelihood† (p484). These types of advertising claims include, those â€Å"that might lead the consumer to have a false impression of a product not by literal interpretation, but by implication† (ibid). To them, there is a need for consumer protection for products such as â€Å"pain relievers, where brands offer similar or identical performance and consumers lack a rigorous reality test of the truthfulness of ad claims† (p492). This is because, they found out that â€Å"expanded and qualified claims can enhance consumers’ images of advertised brand and related purchase intentions† (ibid). They then proffered that in view of the potential of these ad vertisements to â€Å"mislead consumers in cases where the advertised brand has no real competitive differentiation, advertisers are advised to use such claims judiciously† (ibid). To add to, in his article â€Å"Self Regulation and Television Advertising: A Replication and Extension† (2001), Abernethy Avery opined that â€Å"although television stations have the right to reject almost any advertisement submitted for broadcast, exercising that power to protect consumers from potentially false or misleading claims can directly lower station revenues† (p1). Thus to him, because of the possibility of television stations, like other media platforms, of losing revenue or not making much profit, these media outlets accept any advertisement from advertisers and air them on their platforms, without recourse to whether or not the advertisement can harm or mislead the consumer. Though he agrees that there are state and federal laws regulating the advertising of certain products such as tobacco, and also specific punitive measures for false and misleading or defamatory advertisements, he is of the view that much responsibility rests on media houses to engage in â€Å"self-regulation† (p2) or â€Å"clearance process† (p3) to sieve advertisements before putting them out for the public’s consumption. In his own words, â€Å"owners and managers of media vehicles have great power to determine the type of advertising they carry’’and determine if it is acceptable for their audience† (p2). He believes this process has the potential to â€Å"provide considerable consumer protection from false, misleading, or, inappropriate advertising† (p3). He found out through his research that â€Å"only 3% of stations substantiate the claims of every submitted advertisement and 2.5% of stations reject 10% or more of advertisements submitted for broadcast† (p9). These results to him, indicate that the â€Å"consumer protection provided by television advertisingis uneven† (ibid). As part of measures to curb this anomaly, he posits that the Federal Communications Commission must â€Å"require stations to submit their advertising review policies during license renewal and that those policies be part of public record† (p10). He believed that this measure would improve consumer protection since media houses and advertisers will be under obligation to put out true information about products. REFERENCES: Donohue, J., (2006) â€Å"A History of Drug Advertising: The Evolving Roles of Consumers and Consumer Protection† in Milbank Quarterly, Vol. 84, Issue 4, pp 659-699 Marcia, A., (2004) â€Å"The Truth about the Drug Companies†. Huh et al., (2004) â€Å"Media Credibility and Informativeness of Direct-to-Consumer Prescription Drug Advertising† in Health Marketing Quarterly, Vol. 21, No. 3, pp 27-61 Burke et al., (1988) â€Å"Deception by Implication: An Experimental Investigation† in Journal of Consumer Research, Vol. 14, No. 4, pp 483-494 Abernethy et al., (2001) â€Å"Self-regulation and Television Advertising: A Replication and Extension† in Journal of Adertising Research, Vol. 41, Issue 3, pp 31-37

To Download Or Not To Download :: essays research papers fc

The Internet is an extremely useful resource. Using it, one can obtain information on nearly any topic. A relatively new item of Internet technology for sharing music has emerged and brought with it, countless legal debates: Napster. Napster allows people to share music files, discover new artists, and become part of the online-music community. Although Napster’s opponents argue that sharing music files is immoral and should cease immediately, the positive elements that Napster brings to the Internet overshadow any regret for its use. Marc Geiger, executive of â€Å"Artist Direct,† an online music-marketing firm and Napster champion, states, â€Å"Napster is totally community oriented. It brings artists and fans together, and can allow struggling musicians a chance to be heard; that’s what the program is all about. The more people hear the songs, the more they want {to} buy the CD† (Sullivan). Struggling musicians who do not receive widespread media coverage to enhance their own album sales find Napster invaluable (Sullivan). These avid Napster supporters can use the medium to distribute and publicize their music with literally no cost (Sullivan). Richardson, CEO of Napster, Inc., is promoting the good side of the software, and trying to make upset artists understand that this program is for the little guys (Sullivan). Richardson maintains that Napster will not hinder music sales, but will have an opposite effect (Sullivan). Napster is an MP3 file-sharing program that enables users to share their music with one another. Anyone with a computer can download the program, sign the user agreement contract and then start swapping music. The program includes chat features, top music sharing lists, search capabilities, charts showing the status of the file transfer, and other assisting utilities (Allen). The chat rooms allow users to converse and exchange information with other people â€Å"in† the room (Allen). The search feature allows the music consumer to search by song title, artist, along with a myriad of other variables. The file transfer element of the program allows listeners to manage file downloads (files which they are receiving) and uploads (files which others are copying) (Allen). Napster also includes a â€Å"library,† a utility for sorting and listing music files stored on a given computer (Allen). Napster users can also listen to their newly downloaded files with Naptster’s built in mp3-player (Allen). The program is easy to use and does not contain too much technical jargon (Allen). A Northeastern student named Shawn Fanning developed Napster in his college dorm room to share ideas and music with his friends.

Human Nature in The Prince by Machiavelli and Utopia by Thomas More :: Papers More Machiavelli Prince Utopia Essays

Human Nature in The Prince by Machiavelli and Utopia by Thomas More It is difficult to determine Niccolo Machiavelli?s and Thomas More?s view on human?s nature. Each took a different approach to the topic. Through Utopia, Thomas More attempted to change man?s thinking by creating an ideological society. Niccolo Machiavelli, through The Prince, attempted to teach man how to deal with human nature. With this in mind, Machiavelli?s concept is much more realistic than More?s; therefore Machiavelli better represents human nature. Machiavelli?s view of human nature in The Prince, presents, on the surface, a view of governing a state drastically different for his time. Machaivelli believed that the ruling Prince should be the sole authority determining every aspect of the state and put into effect a policy which would serve his best interests. With this, Machiavelli uses the prince as man, and the state as the man?s life. These interests were gaining, maintaining, and expanding his political power. Though in some cases Machiavelli may seem harsh and immoral , one must remember that his views were derived from concern of Italy?s unstable political condition in the 1500s. Machiavelli seems to be teaching the common man how to live his life so that their life is good and prosperous. Machiavelli generally distrusted citizens, stating that since men are a sorry lot and will not keep their promises to you, you likewise need not keep yours to them? (Machiavelli 651). Furthermore, ? a prince never lacks legitimate reasons to break his promises? when, ?such an observance of faith would be to his disadvantage; and when the reasons which made him promise are removed? (651). Machiavelli did not feel that a Prince should mistreat the citizens. This suggestion once again to serve the Prince?s best interests. If a Prince can not be both feared and loved, Machiavelli suggests, it would be better for him to be feared by the citizens within his own dogma. He makes the generalization that men are, ungrateful, fickle, simulators and deceivers, avoiders o f danger, greedy for gain; and while you work for their good they are yours? (649). He characterizes men as being self-centered and not willing to act in the best interest of the state,? and when it (danger) comes nearer to you they turn away? (649). Machiavelli reinforces the Prince?s need to be feared by stating: men are less hesitant about harming someone who makes himself loved than one who makes himself feared?

Geroge Patton :: Essays Papers

Geroge Patton I am going to talk about the Patton’s life in general. This includes his child hood, education, his military career, and his involvement in the world wars. George was born on a ranch on November 11, 1885 in San Gabriel, California. He went to school in Pasadena and later to the Virginia Military Institute from 1903-1904. He was not a good student, but he was an excellent sailor. He was also a great track athlete. He took part in the Olympics at Stockholm in 1912 and set a world record in target shooting. He also won first or second place in swimming, horsemanship, and racing. On May 26, 1910 George married Beatrice Ayer of Boston. They had 1 son and 2 daughters. The son went to West Point in 1942 and both daughters married army men. In 1904 he was appointed to the United States Military Academy. He graduated in 1909 and was commissioned to second lieutenant of Calvary. He was first involved in an expedition in Mexico as an aide to General Pershing in 1917. He was a member of Pershing’s staff and went to France and studied French Tank Tactics and the French Tank School. During World War 1, he started a tank training school and commanded a tank brigade. He was awarded the Distinguished Service Cross for his courge, energy, and intelligence in directing the advance of his brigade in 1918. From 1919-1928, he commanded and trained several different brigade units around the United States. From 1928-1931, he served in Washington D.C. as the Chief of Calvery. He commanded many different calvalry units from 1932-1938. During this time he earned the permanent rank of Lieutenant Colonel. During World War 2, he commanded U.S. forces in Morocco, Tunisia, and Sicily. In 1944 he was given command of the third army. The third army broke through the German defense and advanced across France. In March 1945, they crossed the Rhine river Geroge Patton :: Essays Papers Geroge Patton I am going to talk about the Patton’s life in general. This includes his child hood, education, his military career, and his involvement in the world wars. George was born on a ranch on November 11, 1885 in San Gabriel, California. He went to school in Pasadena and later to the Virginia Military Institute from 1903-1904. He was not a good student, but he was an excellent sailor. He was also a great track athlete. He took part in the Olympics at Stockholm in 1912 and set a world record in target shooting. He also won first or second place in swimming, horsemanship, and racing. On May 26, 1910 George married Beatrice Ayer of Boston. They had 1 son and 2 daughters. The son went to West Point in 1942 and both daughters married army men. In 1904 he was appointed to the United States Military Academy. He graduated in 1909 and was commissioned to second lieutenant of Calvary. He was first involved in an expedition in Mexico as an aide to General Pershing in 1917. He was a member of Pershing’s staff and went to France and studied French Tank Tactics and the French Tank School. During World War 1, he started a tank training school and commanded a tank brigade. He was awarded the Distinguished Service Cross for his courge, energy, and intelligence in directing the advance of his brigade in 1918. From 1919-1928, he commanded and trained several different brigade units around the United States. From 1928-1931, he served in Washington D.C. as the Chief of Calvery. He commanded many different calvalry units from 1932-1938. During this time he earned the permanent rank of Lieutenant Colonel. During World War 2, he commanded U.S. forces in Morocco, Tunisia, and Sicily. In 1944 he was given command of the third army. The third army broke through the German defense and advanced across France. In March 1945, they crossed the Rhine river

Keynesian Economics

Keynesian economics is the view that in the short run, especially during recessions, economic output is strongly influenced by aggregate demand . In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy; instead, it is influenced by a host of factors and sometimes behaves erratically, affecting production, employment, and inflation The theories forming the basis of Keynesian economics were first presented by the British economist John Maynard Keynes in his book, The General Theory of Employment, Interest and Money, published in 1936, during the Great Depression.Keynes contrasted his approach to the aggregate supply-focused ‘classical' economics that preceded his book. The interpretations of Keynes that followed are contentious and several schools of economic thought claim his legacy. Keynesian economists often argue that private sector decisions sometimes lead to inefficient macroeconomic outcomes which require active policy resp onses by the public sector, in particular, monetary policy actions by the central bank and fiscal policy actions by the government, in order to stabilize output over the business cycle.Keynesian economics advocates a mixed economy – predominantly private sector, but with a role for government intervention during recessions. Keynesian economics served as the standard economic model in the developed nations during the later part of the Great Depression, World War II, and the post-war economic expansion (1945–1973), though it lost some influence following the oil shock and resulting stagflation of the 1970s. The advent of the global financial crisis in 2008 has caused a resurgence in Keynesian thought. OverviewPrior to the publication of Keynes's General Theory, mainstream economic thought was that the economy existed in a state of general equilibrium, meaning that the economy naturally consumes whatever it produces because the needs of consumers are always greater than t he capacity of the economy to satisfy those needs. This perception is reflected in Say's Law and in the writing of David Ricardo which is that individuals produce so that they can either consume what they have manufactured or sell their output so that they can buy someone else's output.This perception rests upon the assumption that if a surplus of goods or services exists, they would naturally drop in price to the point where they would be consumed. Keynes's theory was significant because it overturned the mainstream thought of the time and brought about a greater awareness that problems such as unemployment are not a product of laziness, but the result of a structural inadequacy in the economic system. He argued that because there was no guarantee that the goods that individuals produce would be met with demand, unemployment was a natural consequence.He saw the economy as unable to maintain itself at full employment and believed that it was necessary for the government to step in a nd put under-utilised savings to work through government spending. Thus, according to Keynesian theory, some individually rational microeconomic-level actions such as not investing savings in the goods and services produced by the economy, if taken collectively by a large proportion of individuals and firms, can lead to outcomes wherein the economy operates below its potential output and growth rate.Prior to Keynes, a situation in which aggregate demand for goods and services did not meet supply was referred to by classical economists as a general glut, although there was disagreement among them as to whether a general glut was possible. Keynes argued that when a glut occurred, it was the over-reaction of producers and the laying off of workers that led to a fall in demand and perpetuated the problem. Keynesians therefore advocate an active stabilization policy to reduce the amplitude of the business cycle, which they rank among the most serious of economic problems.According to the theory, government spending can be used to increase aggregate demand, thus increasing economic activity, reducing unemployment and deflation. Theory Keynes argued that the solution to the Great Depression was to stimulate the economy (â€Å"inducement to invest†) through some combination of two approaches: 1. A reduction in interest rates (monetary policy), and 2. Government investment in infrastructure (fiscal policy). By reducing the interest rate at which the central bank lends money to commercial banks, the government sends a signal to commercial banks that they should do the same for their customers.Investment by government in infrastructure injects income into the economy by creating business opportunity, employment and demand and reversing the effects of the aforementioned imbalance. Governments source the funding for this expenditure by borrowing funds from the economy through the issue of government bonds, and because government spending exceeds the amount of tax in come that the government receives, this creates a fiscal deficit. A central conclusion of Keynesian economics is that, in some situations, no strong automatic mechanism moves output and employment towards full employment levels.This conclusion conflicts with economic approaches that assume a strong general tendency towards equilibrium. In the ‘neoclassical synthesis', which combines Keynesian macro concepts with a micro foundation, the conditions of general equilibrium allow for price adjustment to eventually achieve this goal. More broadly, Keynes saw his theory as a general theory, in which utilization of resources could be high or low, whereas previous economics focused on the particular case of full utilization.The new classical macroeconomics movement, which began in the late 1960s and early 1970s, criticized Keynesian theories, while New Keynesian economics has sought to base Keynes's ideas on more rigorous theoretical foundations. Some interpretations of Keynes have emp hasized his stress on the international coordination of Keynesian policies, the need for international economic institutions, and the ways in which economic forces could lead to war or could promote peace. Concept Wages and spending During the Great Depression, the classical theory attributed mass unemployment to high and rigid real wages.To Keynes, the determination of wages is more complicated. First, he argued that it is not real but nominal wages that are set in negotiations between employers and workers, as opposed to a barter relationship. Second, nominal wage cuts would be difficult to put into effect because of laws and wage contracts. Even classical economists admitted that these exist; unlike Keynes, they advocated abolishing minimum wages, unions, and long-term contracts, increasing labour market flexibility. However, to Keynes, people will resist nominal wage reductions, even without unions, until they see other wages falling and a general fall of prices.Keynes rejected the idea that cutting wages would cure recessions. He examined the explanations for this idea and found them all faulty. He also considered the most likely consequences of cutting wages in recessions, under various different circumstances. He concluded that such wage cutting would be more likely to make recessions worse rather than better. Further, if wages and prices were falling, people would start to expect them to fall. This could make the economy spiral downward as those who had money would simply wait as falling prices made it more valuable – rather than spending.As Irving Fisher argued in 1933, in his Debt-Deflation Theory of Great Depressions, deflation (falling prices) can make a depression deeper as falling prices and wages made pre-existing nominal debts more valuable in real terms. Excessive saving To Keynes, excessive saving, i. e. saving beyond planned investment, was a serious problem, encouraging recession or even depression. Excessive saving results if invest ment falls, perhaps due to falling consumer demand, over-investment in earlier years, or pessimistic business expectations, and if saving does not immediately fall in step, the economy would decline.The classical economists argued that interest rates would fall due to the excess supply of â€Å"loanable funds†. The first diagram, adapted from the only graph in The General Theory, shows this process. (For simplicity, other sources of the demand for or supply of funds are ignored here. ) Assume that fixed investment in capital goods falls from â€Å"old I† to â€Å"new I† (step a). Second (step b), the resulting excess of saving causes interest-rate cuts, abolishing the excess supply: so again we have saving (S) equal to investment. The interest-rate (i) fall prevents that of production and employment.Keynes had a complex argument against this laissez-faire response. The graph below summarizes his argument, assuming again that fixed investment falls (step A). Firs t, saving does not fall much as interest rates fall, since the income and substitution effectsof falling rates go in conflicting directions. Second, since planned fixed investment in plant and equipment is based mostly on long-term expectations of future profitability, that spending does not rise much as interest rates fall. So S and I are drawn as steep (inelastic) in the graph.Given the inelasticity of both demand and supply, a large interest-rate fall is needed to close the saving/investment gap. As drawn, this requires a negative interest rate at equilibrium (where the new I line would intersect the old S line). However, this negative interest rate is not necessary to Keynes's argument. Third, Keynes argued that saving and investment are not the main determinants of interest rates, especially in the short run. Instead, the supply of and the demand for the stock of money determine interest rates in the short run. (This is not drawn in the graph.)Neither changes quickly in respons e to excessive saving to allow fast interest-rate adjustment. Finally, Keynes suggested that, because of fear of capital losses on assets besides money, there may be a â€Å"liquidity trap† setting a floor under which interest rates cannot fall. While in this trap, interest rates are so low that any increase in money supply will cause bond-holders (fearing rises in interest rates and hence capital losses on their bonds) to sell their bonds to attain money (liquidity). In the diagram, the equilibrium suggested by the new I line and the old S line cannot be reached, so that excess saving persists.Some (such as Paul Krugman) see this latter kind of liquidity trap as prevailing in Japan in the 1990s. Most economists agree that nominal interest rates cannot fall below zero. However, some economists (particularly those from the Chicago school) reject the existence of a liquidity trap. Even if the liquidity trap does not exist, there is a fourth (perhaps most important) element to K eynes's critique. Saving involves not spending all of one's income. Thus, it means insufficient demand for business output, unless it is balanced by other sources of demand, such as fixed investment.Therefore, excessive saving corresponds to an unwanted accumulation of inventories, or what classical economists called a general glut. [ This pile-up of unsold goods and materials encourages businesses to decrease both production and employment. This in turn lowers people's incomes – and saving, causing a leftward shift in the S line in the diagram (step B). For Keynes, the fall in income did most of the job by ending excessive saving and allowing the loanable funds market to attain equilibrium. Instead of interest-rate adjustment solving the problem, a recession does so.Thus in the diagram, the interest-rate change is small. Whereas the classical economists assumed that the level of output and income was constant and given at any one time (except for short-lived deviations), Key nes saw this as the key variable that adjusted to equate saving and investment. Finally, a recession undermines the business incentive to engage in fixed investment. With falling incomes and demand for products, the desired demand for factories and equipment (not to mention housing) will fall. This accelerator effect would shift the I line to the left again, a change not shown in the diagram above.This recreates the problem of excessive saving and encourages the recession to continue. In sum, to Keynes there is interaction between excess supplies in different markets, as unemployment in labour markets encourages excessive saving – and vice-versa. Rather than prices adjusting to attain equilibrium, the main story is one of quantity adjustment allowing recessions and possible attainment of underemployment equilibrium. Active fiscal policy Classical economists have traditionally yearned for balanced government budgets.Keynesians, on the other hand, believe this would exacerbate the underlying problem: following either the expansionary policy or the contractionary policy would raise saving (broadly defined) and thus lower the demand for both products and labour. For example, Keynesians would advise tax cuts instead. [10] Keynes's ideas influenced Franklin D. Roosevelt's view that insufficient buying-power caused the Depression. During his presidency, Roosevelt adopted some aspects of Keynesian economics, especially after 1937, when, in the depths of the Depression, the United States suffered from recession yet again following fiscal contraction.But to many the true success of Keynesian policy can be seen at the onset of World War II, which provided a kick to the world economy, removed uncertainty, and forced the rebuilding of destroyed capital. Keynesian ideas became almost official in social-democratic Europe after the war and in the U. S. in the 1960s. Keynes developed a theory which suggested that active government policy could be effective in managing t he economy.Rather than seeing unbalanced government budgets as wrong, Keynes advocated what has been called countercyclical fiscal policies, that is, policies that acted against the tide of the business cycle: deficit spending when a nation's economy suffers from recessionor when recovery is long-delayed and unemployment is persistently high – and the suppression of inflation in boom times by either increasing taxes or cutting back on government outlays. He argued that governments should solve problems in the short run rather than waiting for market forces to do it in the long run, because, â€Å"in the long run, we are all dead.†This contrasted with the classical and neoclassical economic analysis of fiscal policy. Fiscal stimulus could actuate production. But, to these schools, there was no reason to believe that this stimulation would outrun the side-effects that â€Å"crowd out† private investment: first, it would increase the demand for labour and raise wag es, hurting profitability; Second, a government deficit increases the stock of government bonds, reducing their market price and encouraging high interest rates, making it more expensive for business to finance fixed investment.Thus, efforts to stimulate the economy would be self-defeating. The Keynesian response is that such fiscal policy is appropriate only when unemployment is persistently high, above the non-accelerating inflation rate of unemployment (NAIRU). In that case, crowding out is minimal. Further, private investment can be â€Å"crowded in†: Fiscal stimulus raises the market for business output, raising cash flow and profitability, spurring business optimism. To Keynes, this accelerator effect meant that government and business could be complements rather than substitutes in this situation.Second, as the stimulus occurs, gross domestic product rises, raising the amount of saving, helping to finance the increase in fixed investment. Finally, government outlays ne ed not always be wasteful: government investment in public goods that will not be provided by profit-seekers will encourage the private sector's growth. That is, government spending on such things as basic research, public health, education, and infrastructure could help the long-term growth of potential output. In Keynes's theory, there must be significant slack in the labour market before fiscal expansion is justified.Contrary to some critical characterizations of it, Keynesianism does not consist solely of deficit spending. Keynesianism recommends counter-cyclical policies. An example of a counter-cyclical policy is raising taxes to cool the economy and to prevent inflation when there is abundant demand-side growth, and engaging in deficit spending on labour-intensive infrastructure projects to stimulate employment and stabilize wages during economic downturns. Classical economics, on the other hand, argues that one should cut taxes when there are budget surpluses, and cut spendi ng – or, less likely, increase taxes – during economic downturns.Keynesian economists believe that adding to profits and incomes during boom cycles through tax cuts, and removing income and profits from the economy through cuts in spending during downturns, tends to exacerbate the negative effects of the business cycle. This effect is especially pronounced when the government controls a large fraction of the economy, as increased tax revenue may aid investment in state enterprises in downturns, and decreased state revenue and investment harm those enterprises. â€Å"Multiplier effect† and interest rates Main article: Spending multiplierTwo aspects of Keynes's model has implications for policy: First, there is the â€Å"Keynesian multiplier†, first developed by Richard F. Kahn in 1931. Exogenous increases in spending, such as an increase in government outlays, increases total spending by a multiple of that increase. A government could stimulate a great dea l of new production with a modest outlay if: 1. The people who receive this money then spend most on consumption goods and save the rest. 2. This extra spending allows businesses to hire more people and pay them, which in turn allows a further increase in consumer spending.This process continues. At each step, the increase in spending is smaller than in the previous step, so that the multiplier process tapers off and allows the attainment of an equilibrium. This story is modified and moderated if we move beyond a â€Å"closed economy† and bring in the role of taxation: The rise in imports and tax payments at each step reduces the amount of induced consumer spending and the size of the multiplier effect. Second, Keynes re-analyzed the effect of the interest rate on investment. In the classical model, the supply of funds (saving) determines the amount of fixed business investment.That is, under the classical model, since all savings are placed in banks, and all business investo rs in need of borrowed funds go to banks, the amount of savings determines the amount that is available to invest. Under Keynes's model, the amount of investment is determined independently by long-term profit expectations and, to a lesser extent, the interest rate. The latter opens the possibility of regulating the economy through money supply changes, via monetary policy. Under conditions such as the Great Depression, Keynes argued that this approach would be relatively ineffective compared to fiscal policy.But, during more â€Å"normal† times, monetary expansion can stimulate the economy. IS/LM model The IS/LM model is nearly as influential as Keynes's original analysis in determining actual policy and economics education. It relates aggregate demand and employment to three exogenousquantities, i. e. , the amount of money in circulation, the government budget, and the state of business expectations. This model was very popular with economists after World War II because it could be understood in terms of general equilibrium theory. This encouraged a much more static vision of macroeconomics than that described above.History Precursors Keynes's work was part of a long-running debate within economics over the existence and nature of general gluts. While a number of the policies Keynes advocated (the notable one being government deficit spending at times of low private investment or consumption) and the theoretical ideas he proposed (effective demand, the multiplier, the paradox of thrift) were advanced by various authors in the 19th and early 20th centuries, Keynes's unique contribution was to provide a general theory of these, which proved acceptable to the political and economic establishments.Schools See also: Underconsumption, Birmingham School (economics), and Stockholm school (economics) An intellectual precursor of Keynesian economics was underconsumption theory in classical economics, dating from such 19th-century economists as Thomas Malthus, t he Birmingham Schoolof Thomas Attwood, and the American economists William Trufant Foster and Waddill Catchings, who were influential in the 1920s and 1930s.Underconsumptionists were, like Keynes after them, concerned with failure of aggregate demand to attain potential output, calling this â€Å"under consumption† (focusing on the demand side), rather than â€Å"overproduction† (which would focus on the supply side), and advocating economic interventionism. Keynes specifically discussed under consumption (which he wrote â€Å"under-consumption†) in the General Theory, in Chapter 22, Section IV and Chapter 23, Section VII.Numerous concepts were developed earlier and independently of Keynes by the Stockholm school during the 1930s; these accomplishments were described in a 1937 article, published in response to the 1936 General Theory, sharing the Swedish discoveries. Concepts The multiplier dates to work in the 1890s by the Australian economist Alfred De Lissa, the Danish economist Julius Wulff, and the German American economist Nicholas Johannsen,[15] the latter being cited in a footnote of Keynes. [16] Nicholas Johannsen also proposed a theory of effective demand in the 1890s. The paradox of thrift was stated in 1892 by John M.Robertson in his The Fallacy of Savings, in earlier forms by mercantilist economists since the 16th century, and similar sentiments date to antiquity. [17][18] Today these ideas, regardless of provenance, are referred to in academia under the rubric of â€Å"Keynesian economics†, due to Keynes's role in consolidating, elaborating, and popularizing them. Keynes and the classicists Keynes sought to distinguish his theories from and oppose them to â€Å"classical economics,† by which he meant the economic theories of David Ricardo and his followers, including John Stuart Mill,Alfred Marshall, Francis Ysidro Edgeworth, and Arthur Cecil Pigou.A central tenet of the classical view, known as Say's law, state s that â€Å"supply creates its own demand. † Say's Law can be interpreted in two ways. First, the claim that the total value of output is equal to the sum of income earned in production is a result of a national income accounting identity, and is therefore indisputable. A second and stronger claim, however, that the â€Å"costs of output are always covered in the aggregate by the sale-proceeds resulting from demand† depends on how consumption and saving are linked to production and investment.In particular, Keynes argued that the second, strong form of Say's Law only holds if increases in individual savings exactly match an increase in aggregate investment. Keynes sought to develop a theory that would explain determinants of saving, consumption, investment and production. In that theory, the interaction of aggregate demand and aggregate supply determines the level of output and employment in the economy. Because of what he considered the failure of the â€Å"Classica l Theory† in the 1930s, Keynes firmly objects to its main theory – adjustments in prices would automatically make demand tend to the full employment level.Neo-classical theory supports that the two main costs that shift demand and supply are labour and money. Through the distribution of the monetary policy, demand and supply can be adjusted. If there were more labour than demand for it, wages would fall until hiring began again. If there were too much saving, and not enough consumption, then interest rates would fall until people either cut their savings rate or started borrowing. Postwar KeynesianismMain articles: Neo-Keynesian economics, New Keynesian economics, and Post-Keynesian economics Keynes's ideas became widely accepted after World War II, and until the early 1970s, Keynesian economics provided the main inspiration for economic policy makers in Western industrialized countries. Governments prepared high quality economic statistics on an ongoing basis and tried to base their policies on the Keynesian theory that had become the norm. In the early era of new liberalism and social democracy, most western capitalist countries enjoyed low, stable unemployment and modest inflation, an era called the Golden Age of Capitalism.In terms of policy, the twin tools of post-war Keynesian economics were fiscal policy and monetary policy. While these are credited to Keynes, others, such as economic historian David Colander, argue that they are, rather, due to the interpretation of Keynes by Abba Lerner in his theory of Functional Finance, and should instead be called â€Å"Lernerian† rather than â€Å"Keynesian†. Through the 1950s, moderate degrees of government demand leading industrial development, and use of fiscal and monetary counter-cyclical policies continued, and reached a peak in the â€Å"go go† 1960s, where it seemed to many Keynesians that prosperity was now permanent.In 1971, Republican US President Richard Nixon even pr oclaimed â€Å"I am now a Keynesian in economics. † However, with the oil shock of 1973, and the economic problems of the 1970s, modern liberal economics began to fall out of favor. During this time, many economies experienced high and rising unemployment, coupled with high and rising inflation, contradicting the Phillips curve's prediction. This stagflation meant that the simultaneous application of expansionary (anti-recession) and contractionary(anti-inflation) policies appeared to be necessary. This dilemma led to the end of the Keynesian near-consensus of the 1960s, and the rise throughout the 1970s of ideas based upon more classical analysis, including monetarism, supply-side economics, and new classical economics. At the same time, Keynesians began during the period to reorganize their thinking (some becoming associated with New Keynesian economics).One strategy, utilized also as a critique of the notably high unemployment and potentially disappointing GNP growth rates associated with the latter two theories by the mid-1980s, was to emphasize low unemployment and maximal economic growth at the cost of somewhat higher inflation (its consequences kept in check by indexing and other methods, and its overall rate kept lower and steadier by such potential policies as Martin Weitzman's share economy). [22] Multiple schools of economic thought that trace their legacy to Keynes currently exist, the notable ones being Neo-Keynesian economics, New Keynesian economics, and Post-Keynesian economics.Keynes's biographer Robert Skidelsky writes that the post-Keynesian school has remained closest to the spirit of Keynes's work in following his monetary theory and rejecting the neutrality of money. In the postwar era, Keynesian analysis was combined with neoclassical economics to produce what is generally termed the â€Å"neoclassical synthesis†, yielding Neo-Keynesian economics, which dominated mainstream macroeconomic thought. Though it was widely held t hat there was no strong automatic tendency to full employment, many believed that if government policy were used to ensure it, the economy would behave as neoclassical theory predicted.This post-war domination by Neo-Keynesian economics was broken during the stagflation of the 1970s. There was a lack of consensus among macroeconomists in the 1980s. However, the advent of New Keynesian economics in the 1990s, modified and provided microeconomic foundations for the neo-Keynesian theories. These modified models now dominate mainstream economics. Post-Keynesian economists, on the other hand, reject the neoclassical synthesis and, in general, neoclassical economics applied to the macroeconomy.Post-Keynesian economics is aheterodox school that holds that both Neo-Keynesian economics and New Keynesian economics are incorrect, and a misinterpretation of Keynes's ideas. The Post-Keynesian school encompasses a variety of perspectives, but has been far less influential than the other more main stream Keynesian schools. Relationship to other schools of economics The Keynesian schools of economics are situated alongside a number of other schools that have the same perspectives on what the economic issues are, but differ on what causes them and how to best resolve them: Stockholm SchoolThe Stockholm School rose to prominence at about the same time that Keynes published his General Theory and shared a common concern in business cycles and unemployment. The second generation of Swedish economists also advocated government intervention through spending during economic downturns although opinions are divided over whether they conceived the essence of Keynes's theory before he did. Monetarism There was debate between Monetarists and Keynesians in the 1960s over the role of government in stabilizing the economy.Both Monetarists and Keynesians are in agreement over the fact that issues such as business cycles, unemployment, inflation are caused by inadequate demand, and need to be addressed, but they had fundamentally different perspectives on the capacity of the economy to find its own equilibrium and as a consequence the degree of government intervention that is required to create equilibrium. Keynesians emphasized the use of discretionary fiscal policy and monetary policy, while monetarists argued the primacy of monetary policy, and that it should be rules-based The debate was largely resolved in the 1980s.Since then, economists have largely agreed that central banks should bear the primary responsibility for stabilizing the economy, and that monetary policy should largely follow the Taylor rule – which many economists credit with the Great Moderation. The Global Financial Crisis, however, has convinced many economists and governments of the need for fiscal interventions and highlighted the difficulty in stimulating economies through monetary policy alone during a liquidity trap. Criticisms Austrian School criticisms Austrian economist Friedrich Hay ek disagreed with some of Keynes' views.Journalist and Austrian publicist Henry Hazlitt, wrote a detailed criticism of Keynes's General Theory in The Failure of the New Economics. James M. Buchanan and Richard E. Wagner James M. Buchanan and Richard E. Wagner, writing Democracy in Deficit: The Political Legacy of Lord Keynes and â€Å"The Consequences of Mr. Keynes† with John Burton, criticize Keynesian economics. According to them, The implicit assumption underlying the Keynesian fiscal revolution was that economic policy would be made by wise men, acting without regard to political pressures or opportunities, and guided by disinterested economic technocrats.They insisted that the fundamental flaw of Keynesian economics was the unrealistic assumption about political, bureaucratic and electoral behavior. Some economists such as James Tobin and Robert Barro commented about the thesis. They replied these comments New Classical Macroeconomics criticisms Another influential schoo l of thought was based on the Lucas critique of Keynesian economics. This called for greater consistency with microeconomic theory and rationality, and in particular emphasized the idea of rational expectations.Lucas and others argued that Keynesian economics required remarkably foolish and short-sighted behavior from people, which totally contradicted the economic understanding of their behavior at a micro level. New classical economics introduced a set of macroeconomic theories that were based on optimising microeconomic behavior. These models have been developed into the Real Business Cycle Theory, which argues that business cycle fluctuations can to a large extent be accounted for by real (in contrast to nominal) shocks.Beginning in the late 1950s new classical macroeconomists began to disagree with the methodology employed by Keynes and his successors. Keynesians emphasized the dependence of consumption on disposable income and, also, of investment on current profits and curren t cash flow. In addition, Keynesians posited a Phillips curve that tied nominal wage inflation to unemployment rate. To support these theories, Keynesians typically traced the logical foundations of their model (using introspection) and supported their assumptions with statistical evidence.New classical theorists demanded that macroeconomics be grounded  on the same foundations as microeconomic theory, profit-maximizing firms and rational, utility-maximizing consumers The result of this shift in methodology produced several important divergences from Keynesian Macroeconomics 1. Independence of Consumption and current Income (life-cycle permanent income hypothesis) 2. Irrelevance of Current Profits to Investment (Modigliani-Miller theorem) 3. Long run independence of inflation and unemployment (natural rate of unemployment) 4. The inability of monetary policy to stabilize output (rational expectations) 5. Irrelevance of Taxes and Budget Deficits to Consumption (Ricardian Equivalenc e)