William Shakespeares Hamlet Essay example - 1741 Words

William Shakespeares Hamlet Hamlet is a play about intrigue, suspicion, treachery, and revenge. Its characters, the vast majority of whom are experienced members of the court, move through this world with varying degrees of ease, but all are accustomed to the forces at work. Hamlet’s reluctance to act out the revenge he knows is his duty does help the modern-day audience relate to him, perhaps, but at the end of the day he is still a part of this foreign culture, driven by customs and expectations very different from those that govern the life of his audience. There is one character in the play, though, who seems just as bewildered by the startling events swirling around her as the audience is. Ophelia’s main importance in the play†¦show more content†¦This scene sets up several things that are yet to come in terms of politics and character development. Ophelia is established as a hapless innocent who, like the audience, is no longer sure who to believe. The audience is reminded that Hamlet may be driven by conflicting desires, some of which are on a larger scale than the everyday human forces with which the audience is familiar. Through this scene, the audience comes to see Ophelia as one of them, rather than one of the players in this mysterious royal morass. The next time we see Ophelia, she is quite visibly shaken up by an encounter she has just had with Hamlet. She reports that he came into her room, â€Å"with a look so piteous in purport as if he had been loosed out of hell,† (II.i.79-80) and had, inexplicably, grabbed her, stared at her for some time, and then retreated slowly with his eyes on her all the while. In short, he acted quite mad. The audience at this point knows that Hamlet has planned to feign madness, but here a layer of ambiguity is added by Ophelia’s belief in his â€Å"antic disposition†. It is so real to Ophelia that for a moment, the audience may forget about Hamlet’s plot. This sudden other perspective opens the door for one of the most heated debates in the study of English literature, and also one of the most interesting aspects of theShow MoreRelatedWilliam Shakespeares Hamlet981 Words   |  4 PagesWilliam Shakespeare is a historic writer that is well known and wrote many plays in his lifetime. In most of his plays, if not all, he has incorporated hidden meanings and messages. The majority of his hidden meanings are controversial topics of his time period. In Shakespeare’s play, Hamlet, the controversial topic that is throughout the play is religion and the afterlife. Afterlife plays a big role in Hamlet and is discussed throughout the play. Multiple authors have written on the topic of afterlifeRead MoreWilliam Shakespeares Hamlet745 Words   |  3 PagesIn William Shakespeare’s Hamlet, Hamlet is a unique character due to his unpredictability. He is attempting to discover the truth in a way that no other character of Shakespeare’s has done. We find Hamlet in a state of deep melancholy due to the death of his father, as well as the very sudden and lewd marriage of his uncle and his mother. Hamlet is inspired by the player giving the speech about Hecuba witnessing the massacre of her husband, Priam. He goes off on his ow n, and he is bewilderedRead MoreWilliam Shakespeares Hamlet964 Words   |  4 Pagesunsatisfactory situation. In William Shakespeares Hamlet, a characters inability to overcome their weakness due to it being emphasized by their unfortunate circumstance results in their tragic downfall. This is illustrated through Hamlets over thinking, Claudiuss ambition, and Gertrudes naive persona. Hamlets character is one that is very thoughtful and conscious, however some view these qualities as procrastination and over thinking. Even Hamlet himself acknowledges this inRead MoreWilliam Shakespeares Hamlet1482 Words   |  6 PagesIn one of William Shakespeare’s most notorious plays, Hamlet, Shakespeare uses multiple scenes filled with drama to add a certain extreme dimension to the play. In a story filled with drama, such as Hamlet, an author attempts to use intense dialogue and actions in order to invoke personal emotions and feelings in the hearts of the audience. Shakespeare attempted to have the audience feel the pain that Hamlet experienced, sense the feelings of revenge that were deep in the heart of the prince, andRead MoreWilliam Shakespeares Hamlet1308 Words   |  6 PagesWilliam Shakespeare’s play, Hamlet, has deep meaning and sorrow to its story. It has one of the most famous soliloquies ever to be written in theater art, â€Å"To be, or not to be.† At first, reading Shakespeare’s writing seems difficult to understand and be interested in, but as the reader reads on and digs into the roots of the play, it truly grabs the reader’s attention and makes him/her want to know more of the thoughts behind Hamlet. Thus, the story of Hamlet begins and his personality shows throughoutRead MoreWilliam Shakespeares Hamlet 2214 Words   |  9 PagesMadness within: Bipolar William Shakespeare had the uncanny ability to read people then put into words how individuals reacted with one another. His most known playwright is â€Å"Hamlet†. Hamlet leads the opening of the play with grandeur; but, when his father’s ghost of comes to visit him telling of Hamlet’s uncle Claudius killed him. Hamlet schemes a plan pursuing revenge. Hamlet demonstrates depression exceptionally, in the presence of his mother and Uncle Claudius. Shakespeare’s character likely labeledRead MoreWilliam Shakespeares Hamlet Essay751 Words   |  4 PagesWilliam Shakespeares Hamlet Hamlet might well claim to be Shakespeares most famous play because of its language and the charm of its central character. Shakespeare wrote some thirty-eight plays. Taken individuallyRead More William Shakespeares Hamlet Essay1277 Words   |  6 PagesWilliam Shakespeares Hamlet Hamlet has been praised and revered for centuries as one of William Shakespeares best known and most popular tragedies. Based on its popularity, critics alike have taken various viewpoints and theories in order to explain Hamlets actions throughout the play. The psychoanalytic point of view is one of the most famous positions taken on Hamlet.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Psychoanalytic criticism is a type of literary criticism that analyzes and classifies many of the forms ofRead MoreWilliam Shakespeares Hamlet1172 Words   |  5 PagesHamlet is a complex story that uses many literary devices to help develop the characters in Hamlet. One dominant device is irony. The main plot of the story revolves around irony. Hamlet is a witty character and loves to use irony. Hamlet’s use of irony displays how he insults people, discovers useful information, and reveals his true character. The use of irony in this story helps to add depth to each character, which is why Hamlet is one of Shakespeare’s most complex stories. There are three typesRead MoreWilliam Shakespeares Hamlet710 Words   |  3 PagesIn Shakespeares tragedy Hamlet are very few female characters that is caused by the story - the son must avenge his fathers killer , the mother s uncle . Nevertheless images of Gertrude , Queen of the Danish and Ophelia , daughter of royal adviser Polonius , played in the tragedy very important role . In these two images are not simply embodied many typical female character traits - as worthy , and not so . In the process of communication with these women reveal deeper characters of Hamlet and

The Law Constituents And Religion Affairs Essay - 1989 Words

The law constituents and religion affairs are largely used in the decision making process due to there is a concrete evidence that can be proven and has concern to many parties, God and a state. However, the consideration to use ethics to be positioned in the same place as law and religion is doubtful and questionable due to its stances merely stands upon personal attitudes, beliefs, and values to determine the actions of right or wrong. Ethics used as benchmarks to examine the assumptions of what we think is right might not be the same as others, they could regard as completely wrong. This paper is structured to explore the area of myself which describe the conditions before and after recognising the true self and the importance of ethics, as well as looking through some areas in personality, characters, and behaviors that need some improvements. How do you see yourself defines who you are, is the main focus I use to explain through this paper. The area of discussion encompasses the personal experiences, different perception in personal and professional views, and possible ways in solving problems. The sections also provide analysis regarding the importance of understanding true self as part of self reflections to examine whether or not your expectations to be seen by others, in the same way as the actual condition of how they think about you. The paragraph started from the area of personal stories when I first engaged with the condition that make me questioning of who IShow MoreRelatedReligion : The United States And The European Union1648 Words   |  7 Pages Religion is as old as human civilization itself. It has survived millennia in various forms shaping the way that we live, impacting our decisions and making us who we are. Religion permeates and influences virtually every aspect of our lives and governs both our individual and collective life (Hajizadeh, 2013). Religion plays an integral role in every country whether it is a third-world country, such as some African or Middle Eastern countries, or industrialized capitalist countries like the UnitedRead MoreThe Importance of Religion in Indian Politics Essay1069 Words   |  5 PagesThe Importance of Religion in Indian Politics India is the largest democratic country in the world, in the last fifty years it has travelled and been influenced by multiple social and economic changes. Its independence from Britain in 1947, the partition creating Pakistan and the Pakistan/ Indian debate over Kashmir have been fundamental political movements within these years. As Y.B.Damle states, â€Å"Politics is concerned with goal-attainment and politics is the artRead MoreA Developed Country As The Most Socially Progressive States1463 Words   |  6 Pagespopulation consisting of various different rival groups, called the Celts, who shared a polytheistic, pagan religion. This religion influenced stories and mythology surrounding the ancient monuments and their use. Shortly after the year 400, St. Patrick brought Christianity to Ireland, which remained the dominant religion while many Celtic traditions were retained. During this period, a change in religion and the fall of the nearby Roman Empire, Ireland enjoyed prosperity, but was invaded by the VikingsRead MoreIndia s The Indian State1585 Words   |  7 Pagesinstitutionally always been set up to intervene in religious affairs. The Indian constitution â€Å"enshrines the right to individual freedom of religion, [but] also empowers the state to intervene in Hindu religious institutions.† (Sen 16) The constitution, for instance, calls on the state to ban untouchability, an abhorrent Hindu practice, establishing affirmative action to help certain disadvantaged religious groups and puts in place separate personal laws for different religious groups. (Sen 16) These policiesRead MoreEssay about Past Political Controversies2078 Words   |  9 PagesLeaders are constantly making decisions that are based on their values and directly affect their constituents. Some of those decisions are insignificant, and only affect people in the short term. Some are bigger and determine the long-term fate of society; and others go even further as to determine who those leaders are as people and how they will leave society for future generations (Joseph, 2001). Socrates raised the question, â€Å"What is a virtuous man, and what is a virtuous society?† In observingRead MoreMorality, Metaphysics, And Religion1480 Words   |  6 PagesAND THE UNIVERSAL IN MORALITY, METAPHYSICS, AND RELIGION In his second speech to the literary salon of Henrietta Herz, Friedrich Schleiermacher dismantles the perception of religion as a blending together of morality and metaphysics. He argues that such a hybrid can never truly function as religion and that to attack such a false construct is to fight against a shadow, rather than to engage the true subject (21). Morality, metaphysics, and religion all address the same subject matter—the relationshipRead MoreInternational Region And Its Impact On Foreign Policy Essay1530 Words   |  7 PagesUnited States, other developed countries, and China while continuing close ties with the Soviet Union. Relations with its South Asian neighbors, especially Pakistan, Sri Lanka, and Nepal, occupied much of the energies of the Ministry of External Affairs. In 1971, the Pakistani army moved in to suppress the independence movement in East Pakistan that was supported by India, and some 10 million Bengali refugees poured across the border into India , creating social, economic, and health problems. AfterRead MoreQuestions on Social Administration1228 Words   |  5 Pagesprotect the affair of every state, its preoccupation on sovereignty, freedom, security and the states interests as well as the welfare and the right of people for intervention, towards the desired state of life and well-being of the people in the society (Jouannet, 2012). As a social legislation act, it was thought as a liberal law of co-existence and cooperation among and between states. Interventionist law was designed out of the liberal welfare system replacing the role of religion in taking careRead MoreSalutary Neglect Essay1040 Words   |  5 Pagestowards the American colonies known as salutary neglect. The concept of salutary neglect is essentially the idea that Britain was not controlling the day-to-day function of the colonies, which, in turn, allowed America’s commerce, legislation, and religion to develop independent of affected British inf luence. As a result of the unfettered discretion that salutary neglect gave the colonies, they were able to adopt those British policies and ideals which suited them best, while also making amendmentsRead More George Bush as a Machiavellian Leader Essay1428 Words   |  6 Pagesgood of the state. It is not only acceptable but necessary to lie, to use torture, and to walk over other states and cities. Machiavellianism is defined as â€Å"A political doctrine of Machiavelli, which denies the relevance of morality in political affairs and holds that craft and deceit are justified in pursuing and maintaining political power (Def.)† This implies that in the conquest for power, the ends justify the means. This is the basis of Machiavellianism. The priority for the power holder is

Communications for Business

Question: Discuss about the business communication process. Answer: Introduction Business communication is the desired process of sharing the desired information with the customers as to enhance the profitability of the concerned organization. There are area different sources of the communication process which helps in enhancing the desired growth of the organization concerned[1]. It is important for any of the firms to implement and practice effective communication process as this helps in enhancing the reliability of the customers associated with the firm. On the other hand, the poor communicational skills decrease the reliability and satisfaction of the clients and finally affect the significant growth of the concerned firm. Description of each business As to evaluate the desired practices of the communication processes, Telstra Corporation of Australia and Optus Company of Australia has been taken into consideration. Both of the company executes their business process throughout the concerned market segments of Australia. It is very crucial for the companies to understand the desired requirements and the needs of the different customers and provide satisfaction to the customers with the help effective communication process[2]. Both the companies provide mobile telecom services to all of the customers within the target market segments. Communication research Identification and the different types of communication Two of the companies belonged from the same mobile excommunication industry and the primary motive is to provide network services such as the mobile calls, messages and the internet facility to the concerned customers within the target market segments. Both the companies practices different types of the communicational process and this has created a great impact of the business processes of the concerned firm[3]. The entire process of communication can be divided into three of the different categories such as the verbal communication, non-verbal communication, and the written communication. The use of the different techniques within the business communication process creates a crucial impact on the significant growth of the concerned firm. Both the companies has set up customers car services as to rectify the issues coming between the using of the services by the customers as well as to provide information to the customers on the services offered by them. Telstra corporations followe d an effective use of the trained professionals to assist the desired customers with effective communication techniques, while the communication used by Optus was found not so reliable for the customers and thus, it affected the entire business processes of the firm. Example of both excellent and poor communications Excellent means of communication helps in enhancing the desired growth of the concerned firm whereas the poor communication technologies reduce the overall profitability of the concerned firm[4]. Telstra Corporation has skilled employees who had enhanced communicational skills which have helped the firm to provide the best services to all of the customers concerned. The effective means of the communication process helps in enhancing the desired satisfaction of the concerned customers and it helps in retaining the customer towards the firm. On the other hand, the lack of the effective communication process by the concerned employees of the Optus communication critically affects the desired execution of the business process of the firm. Knowledge plays the most significant role in evaluating the desired communication techniques between the executives of the firm as well as the concerned customers. The customer care of Telstra identifies the desired needs and the issues of the concerned customers and provides them the desired services to enhance the satisfaction and reliability of the concerned customers within the selected target market segments[5]. Both of the companies have adopted the online support for the concerned customers and this has proved to be most useful for the desired growth of the concerned firm[6]. The employees of Optus had the poor communicational skills as compared with that of the business process of that of the Telstra. They do not have the sufficient idea regarding the assisting of the concerned customers. Communication methodology Comparing and contrasting the nature of delivered communication There are different types of the communication process used by the different firms in order to assist the customers as per their satisfaction. Verbal communication, non-verb and the written communication re the three of the different categories by which the issues of the customers are solved. The natures of the desired communication by the two of the firms concerned are quite different from each other. There are several issues related to the poor communicational techniques[7]. The poor communication critically affects the brand name of the firm and finally decreases the desired output of the firm. The poor communication lowers down the desired efficiency of the concerned firm, lowers the morale of the firm and these needed to be the top priority. Identification of factors in communication There are some of the crucial elements which related with the desired process of the communication system. These elements are the desired message, encoding, as well as the concerned sender, and channel, receiver, acting within the concerned message, decoding and the effective feedback from the concerned customers[8]. There are certain barriers which need to be removed as to increase the desired potentiality of the desired clients. Lack of the attention of the desired employees generates enormous impact on the execution of the business process of the firm. On the other hand, the desired difference between the two of the firms concerned affects the execution of the desired process of the firm. Retention of the client's are concerned to be of great importance in retaining the old customer towards the firm[9]. Effective companys communication ability is decisive to productively completing any scheme, large along with small. Analysis of communication processes Explanation of the particular communication enhancing and damaging the concerned business The verbal and the written communication are of great importance and these are used by these two of the companies. In case if the user or the customers find any difficulty while using the desire services offered by the firm, he or she needs to contact the customer support and this is done online through chat with the respective executives or by calling the desired customers support department of the concerned firm[10]. When a customers visits the customer relationship outlet of Optus, the written and the face to face communication hampered the business process as the executives not so much trained regarding providing the desired assistance to the respective customers about the query raised by them. On the other, hand the executives of the Telstra Corporation were quite satisfied with the desired assistance to provide to them. There are some of the basic steps of solving the query or the problem of the concerned customers with effective means of the communication process, such as it i s crucial to identify the desired query and needs of the customers, then the customers should be attended by the support staff in a polite and gentle way so that the confidence can be built over the customers and next is to provide the desired solution as per the desired demands of the concerned customer[11]. The lack of the desired knowledge was one of the problems that damaged the business process and the second point was regarding the providing of effective means of the training to the concerned employees of the firm. There are certain basic steps while contacting with the customers which help in enhancing the desired experience of the customers with the desired firm[12]. Telstra Corporation followed a perfect training session for all of the employees and this helped to enhance the desired effectiveness of the concerned employees which provided the desired elevation to the expansions of the growth of the firm. Conclusion The business communication process is considered to be the most vital elements that help in evaluating the desired growth of the concerned business of a particular firm. Telstra Corporation of Australia and Optus Company of Australia has been taken into consideration provide mobile telecom services to all of the customers within the target market segments. The entire process of communication can be divided into three of the different categories such as the verbal communication, non-verbal communication, and the written communication. Both the companies have set up customers car services as to rectify the issues coming between the using of the services by the customers. The poor communication critically affects the brand name of the firm and finally decreases the desired output of the firm. Perfect training enhances the effective communication process for the employees of the concerned firm. References Al-Hakim, L M Memmola,Business web strategy. in , Hershey, Information Science Reference, 2009. Alred, G, C Brusaw, W Oliu,The business writer's handbook. in , Boston, Bedford/St. Martins, 2012. Carroll, C,The handbook of communication and corporate reputation. in , Chichester, West Sussex, Wiley-Blackwell, 2013. Edery, D, D Edery, E Mollick,Changing the game. in , Upper Saddle River, N.J., FT Press, 2009. grave Macmillan. Jones, P,Strategy mapping for learning organizations. in , Farnham, Surrey, Gower Pub., 2011. Jung, H,Future information communication technology and applications. in , Dordrecht, Springer, 2013. Means, T D Rankin,Business communication. in , Australia, South-Western Cengage Learning, 2010. Riccoboni, A, D Callaghan, A Riccoboni,The art of selling yourself. in , New York, Jeremy P. Tarcher/Penguin, 2012. Rice, R C Atkin,Public communication campaigns. in , Thousand Oaks, Calif., SAGE, 2013. Samovar, L, R Porter, E McDaniel,Communication between cultures. in , Belmont, CA, Wadsworth/Cengage Learning, 2010. Vakoch, D,Communication with extraterrestrial intelligence. in , Albany, State University of New York Press, 2011. Young, A,Brand media strategy. in , New York, Palgrave Macmillan, 2010.

Theory of Consumer Choice Essay Example For Students

Theory of Consumer Choice Essay I think that it is right to begin with the Theory of consumer choice. The above consumer has expressed his preference of choice. He has a taste for seafood which he prefers above all other types of food. This does not mean that he only eats seafood, but in line with the last two elements of the theory of consumer choice, he has shown his preference for taste and on that assumption, will do the best that he can for himself to consume as much seafood as he can. The elements of the theory which govern exactly how much seafood he will consume are the first two, namely the consumers income and the price of seafood. We will write a custom essay on Theory of Consumer Choice specifically for you for only $16.38 $13.9/page Order now We can assume therefore, that the consumer will devote as much of his budgeted income for food, to as much seafood as he can afford in preference to other foods such as hamburgers. A budget line can be drawn up to show a trade off between say, fish suppers and hamburgers to indicate the combinations of fish suppers and hamburgers the consumer can afford given his income and the prices of each meal. Points on the buget line will all be within the consumers budget for food. All points below the line will show the possible combinations of dinners avaiable for his choice. All points above the line wil be unaffordable. It will be possible to see how far the consumer could indulge his passion for seafood in one week. (Slope of budget line = -Pu/Pv)The next considerations that might be taken are the marginal rate of substitution of one meal for another without changing the total utility, the diminishing marginal rate of substitution which will hold utility constant and representation of taste as indifference curves. I will not elaborate on these at this point as I believe that the marginal utility and diminishing marginal utility are more relevany and pertinent to the question. I shall now contunue by defining utility. In economic jargon, utility is a numerical method of appreciating a consumers satisfaction. The word itself, as far as meaning is concerned, has nothing to do with its meaning in everyday language. It has nothing to do with usefulness, it is a satisfaction based unit of measurement. Marginal utility on the other hand is, in a sense, an extra utility. What is meant in economic jargon by marginal is the additional pleasure a specific good gives to a consumer. Diminishing marginal utility is the marginal utility lessening due to the growth of consumption. For example, a consumer consumes a pound of fish, and his utility is 10 units, and his marginal utility is 10 units. If the same consumer consumed two pounds of fish, his utility would be 15, but his marginal utility would be 7. The same effect on marginal utility would take place if the amount consumed further increase. Since marginal utility diminishes as the quantity of fish consumed increases, we are faced with diminishing marginal utility. The point is that no matter how good the the consumers fish dinners are , the more that is consumed, the less satisfaction will the consumer have compared to the initial portion. This of course is down to personal taste, for consumer A may have a diminishing marginal utility that decreases a lot more slowly than consumer B. The fact remains, that at some point, both comsumers will become saturated by their love for seafood and the law of diminishing marginal utility will make itself apparent. Our consumer, as this point, will seek to substitute some of his fish dinners with hamburgers or another alternative. To conclude, the title question based on the argument above, the statement: I love seafood so much I cant get enough of it may be passionate, but economically speaking is implausible. Even if theoretically speaking the consumer had access to an infinite amount of seafood and an unlimited budget, in the end the good would not satisfy the consumer enough to remain a preferred good, thus this change in preference would result in the consumer literally having had enough. First we must consider suppy and demand. Supply is the quantity of a good that sellers want to sell at every price. Demand is the quantity of a good that buyers want to buy at every price. Equilibrium is the point where the supply is equal to the demand. At a particular price these behaviours become quantity supply, quantity demand and equilibrium price. We must now look at the elasticity of supply and elasticity of demand. The elacticity of supply measures the responsiveness of the quantity suppled, to a change in the price of that good. Supply elasticity = (% change in quantity supplied)(% change in price)The elasticity of supply informs us how the equilibrium price and the quantity will change if there is a change in the demand. The elasticity of demand shows us the shift in the equilibrium point if there is a change in supply. The elasticity of supply and the elasticity of demand directly affect each other in the following ways. As seen on the graphs below, the cross section changes. This results in a change of position for the equilibrium point. In the particular case of a 5-pence per gallon tax imposition on petrol, considering that the current price of petrol is roughly 69.6-pence per gallon, there is no drastic shift in the supply curve. Nevertheless, a slight shift in the supply curve triggers a slight shift in the demand curve as shown below. This scenario is better portrayed in the lower left graph of the image below (fig.15.4). Since petrol in England has no substitute or alternative good, (unlike the U.S.), the consumer has no other mean of mobilizing his or her essential equipment of transportation. This automatically makes the demand elasticity low. It is needless to say that as a result of these minor shifts the deadweight loss is minimal. .u73b428c32ae9c4015d98888ffed9ec41 , .u73b428c32ae9c4015d98888ffed9ec41 .postImageUrl , .u73b428c32ae9c4015d98888ffed9ec41 .centered-text-area { min-height: 80px; position: relative; } .u73b428c32ae9c4015d98888ffed9ec41 , .u73b428c32ae9c4015d98888ffed9ec41:hover , .u73b428c32ae9c4015d98888ffed9ec41:visited , .u73b428c32ae9c4015d98888ffed9ec41:active { border:0!important; } .u73b428c32ae9c4015d98888ffed9ec41 .clearfix:after { content: ""; display: table; clear: both; } .u73b428c32ae9c4015d98888ffed9ec41 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u73b428c32ae9c4015d98888ffed9ec41:active , .u73b428c32ae9c4015d98888ffed9ec41:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u73b428c32ae9c4015d98888ffed9ec41 .centered-text-area { width: 100%; position: relative ; } .u73b428c32ae9c4015d98888ffed9ec41 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u73b428c32ae9c4015d98888ffed9ec41 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u73b428c32ae9c4015d98888ffed9ec41 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u73b428c32ae9c4015d98888ffed9ec41:hover .ctaButton { background-color: #34495E!important; } .u73b428c32ae9c4015d98888ffed9ec41 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u73b428c32ae9c4015d98888ffed9ec41 .u73b428c32ae9c4015d98888ffed9ec41-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u73b428c32ae9c4015d98888ffed9ec41:after { content: ""; display: block; clear: both; } READ: The Moonstone EssayThe producer unlike the consumer, in this case will not be affected in terms of tax incidence, the reason being that as a producer of this specific good, there is no immediate obligation to bear the tax incidence himself, thus the burden of tax is loaded onto the consumer. The legislator, or better known as the government, will suffer no incidence of any sort. The only way the legislator will be affected is through the update of this particular tax, which is an annual bureaucratic budgeting process. Over the last century many countries throughout the world have experienced inflation as their major economic problem. Expensive wars have traditionally been recognized as the sources of inflation. Governments, in effort to squeeze more production out of an economy, have often resorted to printing or releasing more money to finance the purchase of arms and soldiers1. In an economy already producing at full capacity, the issuing of additional money serves to bid up the prices of the output of the economy, resulting in inflation. It was generally assumed from past experience, that once the economy returned to its normal state, the persistent tendency for overall prices to rise would disappear, bringing inflation rates back to normal. World War II brought the persistent inflation that economists came to expect. In the 50s and early 60s inflation resumed to very low rates concomitant with large growth increases and low unemployment. But, from 1967 to 1974 the rates of inflation reached al arming proportions in many countries, such as Japan and Britain, for no apparent reason. This acceleration in inflation has forced many economists to reevaluate their views, and often align themselves with a specific school of thought regarding the causes and cures for inflation. There are two opposite theories regarding inflation. Monetarism indicates that inflation is due to increases in the supply of money. The classic example of this relationship is the inflation that followed an inflow of gold and silver into Europe, resulting from the Spanish conquest of the Americas. According to monetarists, the only way to cure inflation is by government action to reduce growth of the money supply. At the other end is the cost-push theory. Cost-pushers believe that the source of inflation is the rate of wage increases. They believe that wage increases are independent of all economic factors, and generally are determined by workers and trade unions. More specifically, inflation occurs when the wages demanded by trade unions and workers add up to more than the economy is capable of producing. Cost- pushers advocate limiting the power of trade unions and using income policies to help fight off inflation. In between the cost-push and monetarism theory is Keynesianism. Ke ynesians recognize the importance of both the money supply and wage rates in determining inflation. They sometimes advise using monetary and incomes policies as complimentary measures to reduce inflation, but most often rely on fiscal policy as the cure. Before we can understand the policies suggested by these different schools of thought, we must look at the historical development of our understanding of inflation. For approximately 200 years before John Maynard Keynes wrote the General Theory of Employment, Interest , and Money, there was a broad agreement among economists as to the sources of inflationary pressure, known as the quantity theory of money2. The Quantity theory of money is easily understood through fishers equation MV=PY ( money supply times velocity of circulation of money equals price times real income)Quantity theorists believe that over an extended period of time the size of M, the money supply, cannot affect the overall economic output, Y. They also assume that for all practical purposes V was constant because short term variations in the circulations of money are short lived, and long term changes in the velocity of circulation are so small as to be inconsequential . Lastly, this theory rests on the belief that the supply of money is in no way determined by the economic output or the demand for money itself.The central prediction that can now be made is that changes in the money supply will lead to equiproportionate changes in prices. If the money supply goes up then individuals initially find themselves with more money. Normally individuals will tend to spend most of their excess money. The attempt of people to buy more than they normally do must result in the bidding up of prices because of the competitive nature of the market, inflation. Also essential to the quantity theory is the belief that in a competitive market, where wages and prices are free to fluctuate, there would be an automatic tendency for the market to correct itself and full employment to be established. In figure 1, w stands for the real wage rate (the amount of goods and services that an individuals money income can buy), L d for the demand for labor and L s for the supply for labor. Suppose now that the economic system inherited a real wage rate w 1, The supply of labor is L s1 while the demand for labor is only L d1. At this point there is substantial unemployment because labor is costly for employers to buy. According to Classicalists, The existence of an excess supply of labor will lead to a competitive struggle between the unemployed and employed for the available jobs. This struggle will lead to a reduction of real wages, thus employers will begin hiring more workers. Eventually competition will drive down wages to an equilibrium called labor- arket clearance, where the demand and supply for labor is equal; this is We Le. Classicalists define Labor market clearance as the point of full employment. Thus, persistent unemployment can only be explained by a mechanism which interferes with a competitive market. They specifically blame monopolistic trade unions for preventing the wage rate from falling to We. Unions may use many threatening tactics to fight wage cuts. Those most effective mentioned in the textbooks are collective bargaining and strikes. .uc5cd880618901ccb5f8a0852ff1dd9d2 , .uc5cd880618901ccb5f8a0852ff1dd9d2 .postImageUrl , .uc5cd880618901ccb5f8a0852ff1dd9d2 .centered-text-area { min-height: 80px; position: relative; } .uc5cd880618901ccb5f8a0852ff1dd9d2 , .uc5cd880618901ccb5f8a0852ff1dd9d2:hover , .uc5cd880618901ccb5f8a0852ff1dd9d2:visited , .uc5cd880618901ccb5f8a0852ff1dd9d2:active { border:0!important; } .uc5cd880618901ccb5f8a0852ff1dd9d2 .clearfix:after { content: ""; display: table; clear: both; } .uc5cd880618901ccb5f8a0852ff1dd9d2 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc5cd880618901ccb5f8a0852ff1dd9d2:active , .uc5cd880618901ccb5f8a0852ff1dd9d2:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc5cd880618901ccb5f8a0852ff1dd9d2 .centered-text-area { width: 100%; position: relative ; } .uc5cd880618901ccb5f8a0852ff1dd9d2 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc5cd880618901ccb5f8a0852ff1dd9d2 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc5cd880618901ccb5f8a0852ff1dd9d2 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc5cd880618901ccb5f8a0852ff1dd9d2:hover .ctaButton { background-color: #34495E!important; } .uc5cd880618901ccb5f8a0852ff1dd9d2 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc5cd880618901ccb5f8a0852ff1dd9d2 .uc5cd880618901ccb5f8a0852ff1dd9d2-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc5cd880618901ccb5f8a0852ff1dd9d2:after { content: ""; display: block; clear: both; } READ: Entrepreneur Observation Report EssayThe Great depression, as experienced by the US and the countries of western Europe, cast a shadow over the Classical approach to economics3. The self-righting properties of classical economics were clearly not working when wages and unemployment failed to decrease. Blaming trade unions for these massive increases in unemployment seemed far fetched. John Maynard Keynes was the first writer to produce a non-classical, coherent, and convincing explanation of the inter-war depression. He traced the sources of unemployment to a deficiency of effective demand. Put simply, unemployment occurred when total spending on output was not enough to f ully employ the available workforce. Effective demand, called expenditures, was split into two groups by Keynes, consumption and investment. Consumption, the purchase of goods and services, far outweighed investment as the major component of effective demand. At the theories core lay Keynes belief that an economies total production, Y, will eventually adapt itself to changes expenditures. Moreover Keynes argued that the equilibrium of wages exist when the output of producers is equal to the amount that consumers and investors are willing to spend on their output. Consider figure 2 Total expenditure, that is the sum of consumption and investment , is measured on the vertical and real income on the horizontal. For practical purposes investment will remain a constant in the graph and be represented by line I. If we add the consumption function and the investment line, we get the the sum total expenditures, line E (E = C+I). For any given amount of expenditures, Y can be located anywher e for a short time. If Y is above E, then producers are simply accumulating unsold stocks of goods. Eventually they will be forced to cut back on production until they can sell their existing stocks, earning capital enough capital to restart production. Conversely, If Y is below E, producers will be selling out of goods. Normally they will increase production as soon as possible to catch up to the demand and make the most profit. This is where, the 45 line comes into use. Y, according to Keynes, will shift to the point where E intersects the 45 line. When Y intersects E at the 45 line, there is an equilibrium between expenditures and total output, and wages are stable. In order to illustrate how Keynes principle of effective demand accounts for unemployment, let us assume that the economy starts off at full employment where Ld (demand for labor) equals Ls (supply). The label of the output necessary to sustain full employment is Yf, f denoting full employment. If expenditures were smaller than Yf, than Yf would adjust itself to the left on the graph to accommodate for this. Because the level of total output has shrunk, the demand for labor also has, and unemployment has risen correspondingly . If one accepts the Keynesian model, there are generally two things that can be done to raise the level of aggregate demand to a point where Y adjusts to full employment. Raising government expenditures, G, stimulating private investment, or lowering taxes, raising consumption because people will have more money to spend, will both raise the level of aggregate demand. Both these policies come under the heading of fiscal policy, which is deliberate manipulation of the government budget deficit in order to achieve an economic objective. During the great depression, many people rejected Keynes ideas on unemployment because they were scared to be different. The contemporary orthodox view was that cuts in the money wages would automatically be accompanied by cuts in the real wages, thus raising employment. Classicalists prescribed the government a remedy for unemployment based on implementing money wage reductions. Keynes rejected this idea on both theoretical and empirical grounds. After the first World War, collective bargaining rendered the downward flexibility of wages highly improbable. Any attempts at cutting money wages would be fiercelyresisted, as seen as the 1926 General Strike in Britain painfully demonstrated. Keynes regarded the trade unions resistance to wage cuts as a product of the rigid structure of wage differentials. This is actually just the relative position of the wages of a particular type of labor to all others, F.E. mechanics get paid 1$,Electricians get 2$, plumbers get 3$. If any one group re ceived generally higher wages, other groups would surely demand higher wages to preserve the structure. On the other hand, if a single group wantonly decided to accept a wage cut, other groups would likely not follow. Therefore labor groups vehemently resisted wage cuts. Theoretically, Keynes believed that drops in the money wages would eventually be accompanied by a drops in prices. This balanced deflation would bring real wages, the amount of goods that could be bought, to their original amount. Employers would not take on more workers because their real revenue, amount of goods they sell, would remain unchanged. In order to fully consider this statement, we must first look at the terms used and consider their definitions with respect to the larger content of the question. We will first consider Positive Economics. A positive economic statement is one which relies on real data, given true statistics and related directly to a true situation. Following this, we can say that a normative economic statement is one which is not purely objective although it is related to a positive economic situation. What the normantive statement does is to follow on with an opinion which is subjective, biased and based purely on the personal feelings of the speaker. Positive economics is about what is; normative economics is about what should be. Economics, John B. Taylor, Houghton Mifflin Company, 1995, p.25Now we must consider the definition of Fair. Fair: satisfactory, just, unbiased, according to the rules. The Concise Oxford Dictionary, Fifth Edition, Edited by H. W. Fowler and F. G. Fowler, Oxford University Press, 1964