What Main Measures Of Economic Activity Fail Include CPI and GDP Essay

What Main Measures Of Economic Activity Fail Include CPI and GDP - Essay Example The nation's central measure of well-being works like a calculating machine that adds but cannot subtract. It treats everything that happens in the market as a gain for humanity, while ignoring everything that happens outside the realm of monetized exchange, regardless of the importance to well-being (Cobb, 1995). But GNP/GDP measures have some flaws in fully estimating economic development; the most common flaws are listed below: One should not neglect the way GDP ignores the contribution of the social realm--that is, thus the economic roles of household is not taken into account. This is where much of the nation's most important work gets done. Why this happens can be explained by the fact that money do not change hands. The GDP doesn't count it at all--which means that the more our families and communities decline and a monetized service sector takes their place, the more the GDP goes up. The GDP totally disregard the distribution of income, for example, so that enormous gains at the top appear as new prize for all. It makes no distinction between the person in the secure high-tech job and the "downsized" white-collar worker who has to work two jobs at lower pay. CPI CPI is used as an economic indicator to measure inflation. The CPI is an indicator of the effectiveness of government policy, besides it is used by business executives, labor leaders and other private citizens use the index as a guide in making economic decisions. The Columbia Encyclopedia defines The Consumer Price Index (CPI), as a measurement of the cost of living prepared by the U.S. Bureau of Labor Statistics, tracks changes in retail prices of an average "market basket." Changes are compared to prices in a previously selected base year, from which figures the percentage increase or decrease in the cost of living can be calculated. In addition to changes over time, such analyses must also consider regional variations in the cost of living, and the relative weighting of the components of the index must be reappraised periodically. Despite its enhancements over the years, the CPI still has considerable problems as an inflation measure. For instance, the index overstates many individual price increases by failing to fully adjust posted price changes for quality improvements and by underestimating the growth of sales by discount retailers (Bureau of Labor Statistics, 1997). Economists take into consideration the CPI when taking time-series measurements of financial instruments, since such measurements can only sense if they are expressed in "constant" money terms. One should bear in mind that the CPI is not an economic variable, as it is statistic measure of inflation. To calculate the monthly CPI, the US Department of Labor takes a weighted average of prices of various things that consumers purchase, and then its statisticians try to figure out the various proportions of different items in a "mythical" household budget. For example, the

Economics Essay Example | Topics and Well Written Essays - 2500 words - 6

Economics - Essay Example Next it delineates the strategic choices at the disposal of corporate entities in the process of planning and policy making. The study also focuses on the strategic significance of the changes that have taken place in the corporate environment over the years since the times of such catchy phrases like Schumacher’s â€Å"small is beautiful†. According to the lead article in the Economist on the 29th of August 2009 big corporate entities are coming in to vogue again because they have discovered a master strategy to survive in the all too important strategic competitive environment. By extension environmental factors play a very significant role on the corporate strategy and policy making environment. The extent to which such environmental factors play a role in determining the directional thrust of the corporate strategy of the big business corporation concerning competition and corporate social responsibility (CSR) can be known through an analysis of the theoretical approaches recommended by modern management gurus. This paper would adopt the five principle environmental factors suggested by Pearce & Robinson (2002). The authors suggest a theoretical framework of five significant environmental factors in order to enable leaders and managers of corporate entities to understand the nature and the extent of the impact that environmental factors have on business organizations. Above all according to the authors big businesses are more and more affected by them. Customers are very important for the business organization in determining its corporate strategy. For example customers can either make or break a business organization on the basis of demand. The emerging big corporate entity depends on customers’ perceptive behavior to such an extent that the former has very little freedom in deciding the corporate strategy and production policy in any other possible way. The purchasing power of the modern customer is unlimited

Diabetes, Cardiovascular Disease...What do you know about them Essay

Diabetes, Cardiovascular Disease...What do you know about them - Essay Example Discussing gestational diabetes is relevant to me as the disease runs in the family. In addition, it has relevance to the goals that I want to take in the future: becoming an obstetric nurse and an endocrinologist. Health practitioners believe that prevention is better than cure and that pregnant women must be taught on how to improve their health and their baby through early prenatal care and regular prenatal visitation. However, I believe that educating them about risk factors and preventive interventions will not immediately create awareness towards action to prevent gestational diabetes. Instead of focusing on risk factors and preventive strategies, why not inform pregnant women of the complications of gestational diabetes to them and their baby? This may create fears or worries but surely, pregnant women will take immediate action to avoid complications and inquiry about risk factors and necessary interventions follow. Gestational diabetes poses some life-threatening and chronic conditions both on the pregnant women and newborns. Women with gestational diabetes and who are obese may develop type 2 diabetes later in life. They have also increased susceptibility and mortality to other illnesses such as pneumonia and influenza. Women with gestational diabetes have marked biochemical imbalances which may lead to life-threatening conditions diabetic ketoacidosis (DKA), hyperosmolar (nonketotic) coma, and high blood pressures. In addition, women with gestational diabetes tend to deliver babies via cesarean section and acquire birth injury (trauma) due to large infant size. Meanwhile, babies are also harmed if the mother has gestational diabetes. According to the CDCs 2011 National Diabetes Fact Sheet, 5% to 10% of babies suffered from major birth defects while 15% to 20% of fetuses are spontaneously aborted if women developed diabetes early in pregnancies (9). There is also a slight

Role of Social Media in Customer Relationship Management Essay

Role of Social Media in Customer Relationship Management - Essay Example Along with that, this work explores the importance of using social media for its diverse objectives in business, event, and social context. In the context of an event, this study also explores London Mela festival (2014), and the way organizers used social media to manage the customer relationship. London Mela is Europes largest outdoor South Asian festival which consists of several live entertainments and traditional Asian culture activities. This research study explores the role of social media in customer relationship management with a reference to London Mela as an example of the event. Firstly, there is a need to understand the definition of relationship marketing. Grà ¶nroos (1994, cited in the Egan, 2001, p. 23) describes relationship management as â€Å"identify and establish, maintain and enhance and, when necessary, terminate relationships with customers and other stakeholders, at a profit so that the objectives of all parties involved are met, and this is done by mutual exchange and fulfilment of promises.† Thomas and Housden (2011) assert that the concept of relationship marketing is that customer must be influenced in a way that leads to his contentment. According to Chan and Guillet (2011), customer relationship management is a systematic approach to managing firms communication or interaction with current and future customers. However, it involves technological expertise in organizing and synchronizing sales, marketing, customer services and technical support. On the other hand, Masterman and Wood (2006) argue that Customer Relationship Management (CRM) is a management philosophy on the basis of which firms common goal can be achieved through identifying and satisfying customers defined and undefined needs and wants.  

Should Trees Have Standing Essay Example | Topics and Well Written Essays - 1500 words

Should Trees Have Standing - Essay Example Taking trees for that matter, as they are living creatures with biological properties, the debate now arises whether or not they have legal or moral rights. In my view, trees do have a legal as well as a moral standing, and their due rights should be protected, however, if humans cut trees for sustenance and not for pleasure, such an act shouldn`t be challenged in any case, as giving the rights is one thing but sacrificing one`s own rights for the sake of nature is another. The presumption can be backed by the works of Stone and Schmitz, both being highly reputable professors of philosophy. Stone here regards that trees, like corporations, should be assigned their due rights. Though trees can`t speak for themselves, so can`t the corporations, thus by virtue of law, trees should be protected from abusive behavior. Similarly, Schmitz talks about social egalitarianism in this regard and argues that it is irrational to presume that all species have equal moral standing as that is to be j udged by the self respect principal, i.e. though killing trees without a reason is highly immoral but killing trees for self-survival is completely understandable and doesn’t challenge the ethics and morality for that matter. To defend the legal status of the trees, the propositions from the Stone`s works can be analyzed and studied. He gives the example of a stream which is often quoted in such instances as it gives the most relevant explanation for the legal rights which ought to be presumed by nature. He proposes three basic requirements for the plaintiffs to sue the violators of the stream. When a company sued the industry for polluting the stream, the legal standing was given for the protection on the stream because, firstly, there was a holder to sue the industry, secondly, there must be a competent someone to bear the standing, and thirdly, there must be someone benefitting from the economic compensations. In this regard, the common law would deny any kinds of rights f or the natural objects, even trees, on the grounds that trees can`t sue anyone themselves, nor can they reap the financial compensations, thus there is no point in giving them any kinds of rights (Stone and Hardin 2002). However, Stone argues that same is the case with corporations, i.e. corporations are also dead entities, not even living beings like trees, and however they do have a legal status. In this sense, similar to the corporations, whenever anyone would sue the violators destroying the trees, the benefits would still be reaped by the trees and not by the plaintiffs. Thus, trees in any case deserve a legal standing whatsoever, similar to that of humans, as if the corporations can have a standing, so can the trees. Speaking of the moral rights of the trees, the concept can be explained by the principal of social egalitarianism, which regards all species as equal to humans, thus being not inferior or superior in any case. The proponents of social egalitarianism argue that his torically when the races were being denied the moral rights, i.e. slaves, blacks etc being considered as inferior, thus once modernization eliminated the discrimination, shouldn’t the same be applied on nature too? The advocates of egalitarianism regard trees as having rights similar to that of humans, thus trees should have a high moral standing in the social spectrum, thus, and it would be

Introduction to criminal justice system Essay Example | Topics and Well Written Essays - 1500 words

Introduction to criminal justice system - Essay Example nal Justice Act of 2003, Section 148, a Crown court is not to pass a community sentence except as a last resort, if the seriousness of the crime merits it3. The Magistrate Court and Crown Court are both courts of first instance and deal with criminal law offences. All criminal offences initially come to the magistrate Court, however the summary offences are dealt with here while offences that are classed as triable are sent up to the crown Court. Offences fall into two primary categories – summary offences where a defendant may not be entitled to a trial by jury and indictable offences which include serious charges such as murder and manslaughter4. Summary offences dealt with at the Magistrate Court include less serious ones such as traffic offences or failure to pay taxes and will generally include all cases, including triable offences, where the defendant has opted for a summary trial. However, the Crown Court hears those cases involving indictable offences which include the category of serious offences such as rape or murder. Approximately ninety six percent of criminal cases are dealt with summarily at a magistrates Court.â⠂¬ 5 The legal system is essentially an adversarial one and thus expensive; for example studies conducted on divorce have revealed that adversarial litigation costs 66 percent more than mediation.6 In the conventional legal environment, lawyers are trained to adopt an adversarial position in regard to the opposite party and the formal, court based, procedural environment that is laden with codes and rules of conduct. In a criminal trial, one of the most important rights that will accrue to any person accused of a crime is the constitutional right to every aspect of the due process of law that will ensure that his or her guilt is established by proof beyond a reasonable doubt.7 The due process of law is the right accorded to every person alleged to have committed a crime to be treated fairly when involved in a legal action. The notion that

Prostitution Essay Example | Topics and Well Written Essays - 500 words - 2

Prostitution - Essay Example The organization gives the facts on prostitution that are all in favor of my argument. One of the missions and the major aim for the organization is on the protection of the children from trafficking for sexual exploitation in the name of prostitution. This is child defilement and the organization is strongly active and advocates so much on this kind of prostitution (Ronald 2012). It is quite important to highlight a con side of my argument by saying that prostitution is a perceived to be a victimless crime. This is so as it develops bad sexual scenes where the human rights are violated and the people are obliged to engage in various sexual behaviors that are not healthy. With an argument that they receive money in the name of prostitution, they have to admit on their own consent an not admitting because of the pressure that they receive from the people they call their customers. It is also important to highlight that a research that was conducted by the International Labor Organization (ILO) found out that majority of the prostitutes are women and that they involve themselves in the act with the view of getting income. It is therefore considered to be an evil act in the society as it does not pass good morals to the society (Ronald 2011). Another bad consequence and repercussion of the act is the case whereby the prostitutes go for the HIV/AIDS testing nearly every week and the results of the test turn out to be negative. This can be so for about three months and in the long run the person infects a large number of people before being found negative. This is a wrong implication of prostitution and the adverse effects of the disease are also known. It affects the economy, society and the political climate too (Sheila 2009). Based on my reasoning of the negatives of the act, it is therefore quite evident that the act does not help our economy in the right way. This is so as