Time Lags in Fiscal Policy Essays

Time Lags in Fiscal Policy Essays Time Lags in Fiscal Policy Paper Time Lags in Fiscal Policy Paper Fiscal policy is the change in taxes and spending that affect the level of GDP (O’Sullivan, p. 212, 2008). When fiscal policies are put into place, the goal is to see the economy grow to healthy levels. Other reasons for fiscal policies could include stabilizing the economy. These policies are supposed to help the economy run at its full potential. Congress and the President are supposed to be constantly working to maintain a healthy economy. There are times however, that a poorly timed move could hurt and destabilize the economy. The problem with trying to implement policies that will move the economy to its highest potential output is that there can be delays. Trying to forecast the economy is like trying to forecast the weather. When policy makers make mistakes, they create proverbial rain at our picnic. When the economy starts to slow down, government officials try to get the economy to run at its full potential again. The problem with this is that sometimes, the economy can correct itself without policies being established. There are usually delays, or lags in the policies being implemented. Just like normal, regular people, there are times that policy makers are slow to realize that there is problem that needs correcting. When they finally realize that there is an issue at hand, it may take the policy makers time to react. Two types of lags can cause problems inside lags and outside lags. Inside lags involve the time it takes to formulate a policy while outside lags involve the time it takes for the policy to actually work (O’Sullivan, p. 214, 2008). The biggest problem with the inside lag is the time it takes policymakers to recognize shifts in economic indicators. Policymakers try to rely on their forecasting skills. Sometimes their forecasting is correct, while other times, they are wrong. This can cause big discrepancies in the economy. Another issue is the time it takes for policy makers to realize that there is a problem and then fix the problem at hand. With outside lags, policies such as tax cuts take time to actually work. Outside lags are normally short, but if they are timed incorrectly, the economy could actually become destabilized. The worst problem with lags is that economists are playing the role of the weatherman in forecasting what will happen to the economy. It is hard for them to know whether an economic slowdown is just temporary or if it will be a long recession. For example, if economists predict that the economy is going to be working over its potential, and the government implements a policy to get the economy to its full potential, but not over it, and then the economy becomes weak before the policy takes place, the entire economy could become destabilized. Policy makers must understand this possibility and do their best to minimize errors. Reference OSullivan, Shefferin, Perez. (2008). Economics: Principles, Applications, and Tools. Upper Saddle River, NJ: Pearson Education, Inc.

Ethical Leadership in Business Essay Sample

Ethical Leadership in Business Essay Sample Ethical Leadership in Business Essay Ethics is specific standards set within an organization to guide employees. Business decisions are made based on these standards. Hence, they affect the way companies operate and how the company interacts with its employee, customer, the community, and other shareholders. Ethical leadership plays an important role and is known to be the most important factor that promotes productivity in workplaces. Ethical leadership is associated with individual characteristics and includes honesty and trustworthiness. The importance of leadership cannot be underestimated, and the management sets the tone for every decision made within a company. Therefore, ethical leaders are considered as role models and have the ability to hold their employees accountable. Leaders are looked upon as the key decision makers; they have a huge responsibility to ensure that all stakeholders are comfortable at all times. A leader with ethical morals exercises their duty by showing good examples and treating people fairly. Ethical leaders are more like role models and take moral identity as an important element. Thus, they behave in ways that are rational and logical. Individual moral identity means having specific behavior such as caring and being compassionate. Therefore, moral identity is linked to ethical leadership, which is further related to social behavior like charity. Practicing ethical leadership is essential for those in authority because it makes a significant impact to his subordinates. Employees will behave ethically and avoid being unethical depending on the leaders’ action. Those in authority are in charge disciplining an employee who breaches any ethical code. Therefore, they lead by example. Ethical leadership emphasizes the need to acquire positive outcomes, but also obtaining these positive outcomes within specific ethical standards. In leadership, transparency plays an important role in upholding the companys image. To display ethical leadership means to set good examples for employees to enable them to follow the organization culture. It is about creating policies and code of conduct that are useful in setting straight what is expected of employees. It is important that employees feel safe within their work environment. Therefore, a conductive environment that fosters open communication is key in maintaining standard ethical practices. Whereby employees can feel free to report to the higher authority in case a senior officer behaves unethically. One way organizations promote ethical leadership is by taking seriously any complaint forwarded by the employee. Organizations also need to offer ethic training regularly to help create a better ethical environment. As part of compliance efforts, the organization needs to invite motivational speakers to help employees see the sense of practicing ethical behavior. To ensure that ethical standards are maintained. Strict punishment should be administered to those violating the ethical standard. To promote ethical standards, the old employees and new employees should be aware of the organizations code of ethics, and every employee should be aware of the organizations core values. Employees need to be guided to adopt appropriate behavior. Factors like integrity, sense of responsibility, discipline, emphasis on quality and teamwork need to be emphasized at all times. In todays world, young people are ambitious and are eager to succeed using all means. Most employees are willing to engage in any means by foregoing their ethics and moral values to achieve success. It is important that part of the organization ongoing ethical compliance employees should be aware of the values and ethics required by the company. In a nutshell, ethical leadership involves considering different factors that can affect employees and be mindful of employees. Ethical leadership is the most important element in business. Ethical leadership creates ethical workplaces thus leaders are expected to uphold certain values to maintain the integrity of the organization.

Colour Essay Example | Topics and Well Written Essays - 500 words

Colour - Essay Example This research investigates the complex meaning of the color red, considering the ways its meaning can vary amongst individuals, cultures, and subcultures. In examining the colour red, one of the most overarching considerations is establishing an epistemological framework between cultures. Friedman & Miyake (2004) investigated the extent language shapes human perception. This study primarily revealed that cultures with more complex vocabularies for designating colour subsequently perceived colour in different ways. In terms of red, this is significant as it is difficult to speak of a singular ‘red’ throughout world culture, but rather a series of approximating notions of ‘redness’ that are at best pragmatically linked. This notion of redness has assumed symbolic recognition in global society. One of the most prominent such instances is the notion of red as embodying revolutionary ideas, or more specifically socialism and communism. Earl (1996) examined this thematic implementation of red in a variety of 20th century social contexts. Undoubtedly influenced by the Red Star communist symbol, as well as the Russian semantic linkage between red and ‘beautiful’, red came to acquire such prominent symbolic properties that countries with communist regimes were even referred to as ‘red’ countries. This symbolism extended to specific social movements; for instance, the perceived intrusion of communism into the United Kingdom and United States was referred to as the Red Scare. While there is the distinct possibility that these political notions of redness were influenced by deeper human instinctual perceptions of red, the symbolic perception of red also varies across cultures. In this way, rather than ‘red’ purely embodying revolutionary ideology, the color also connotes passion and virility. For instance, from a comprehensive qualitative approach, red roses, hearts, or even candy harkens these essential qualities. Ball (2001, p. 43)

Internal Memorandum Article Example | Topics and Well Written Essays - 250 words

Internal Memorandum - Article Example Summary and response: Frymovich starts by discussing the current problems faced by the young entrepreneurs and small businesses in Europe, highlights the business environment by submitting facts and figures, and then explores the reasons behind those problems (Frymovich). According to the article, it is very difficult for small firms to get credit or financing for their operations (Frymovich), and to get an open market in the EU, therefore, the majority of the small firms head towards the U.S. where the laws and policies are more favorable and the market more accepting (Frymovich). It is interesting to note that Europe has almost doubled the number of self employed workers (Frymovich), and if each of those self employed business people were to hire just one more worker, a magnitude of new jobs would be created (Frymovich). However, most of those businesses hesitate to operate in Europe, due to the dearth of venture capital and angel investment, complex government policies and prolong ed time periods for government funding (Frymovich), and the lack of acceptance of high risk in the market (Frymovich). The banks in Europe are still recovering from economic recess (Frymovich), and the firms are protected by the government (Frymovich). This means that downsizing and starting over are more difficult in the EU than it is in the U.S. (Frymovich). Whereas this protection can be viewed as a safety factor for the employees in that they cannot just be fired at whim, and so their economic stability is guaranteed, this safety factor serves as a hurdle for companies which have failed in their venture and want to start anew in some other field of business (Frymovich). For example, by cutting the credit rating of a failed operation, Germany makes it harder for the business to venture into the market again (Frymovich). Although there are some agencies working for the benefit of the small operations, they

Mass Media and Economic Development Essay Example for Free

Mass Media and Economic Development Essay Mass media has always been one of the pillars of modern society. With its wide range and base, it is indubitably, the most effective and efficient way of mass information dissemination. Yet, instead of mass media being a primary tool for education, it is mostly being used as a medium for entertainment; to show bland, superficial products with little, or no educational value. So, attempting to connect mass media with economic development would seem as disjoint as climate change and my inability to make good analogies. Surprisingly, this is what the last speaker, from The Public Sphere talked about. The forum cites economic literacy as the main contribution that mass media can make to economic development. Defining economic literacy as the ability to identify, analyze and evaluate the consequences of individual decisions and public policy, the speaker, Mr. Omar Dumdum of NEDA, goes in to explain the ineffectiveness of economic education in secondary school; therefore, mass media should take the primary responsibility of promulgating economic literacy, to promote economic development. This can be done, according to Mr. Dumdum, through better economic news writing and reporting, making economic news understandable for the general population, and information dissemination campaigns. There will be some difficulties encountered, of course, as Economics is wrought with technical terms that cannot be easily simplified, but, if information campaigns are done in tandem with better reporting, results can be achieved. Personally, I do think it is possible and feasible. Being someone who believes in the power of mass media to reform society, I think mass media could enhance the net economic literacy of the Philippines, which would, hopefully, increase Filipino participation in crucial economic activities, resulting in inclusive economic development. But of course, mass media has internal flaws that prevent this from happening. For one, it bears the inability to make economic news/information exciting, or even understandable. If not for my privileged secondary and tertiary education, I would not know anything about our countrys economic status, as I regularly skip the Business section of the papers, because it is simply boring. Economic reporting tends to be too technical, or elitist, so much so, that for the average Filipino citizen believes that the economic opinion of his/her neighborhood barber is more valid and believable compared to the TV guy in a suit. I am not dismissing the opinion of Manong Barber as incorrect or irrelevant (he might be an economist, who knows), but this points out the preference of Filipinos to opinion-based economic information, over rigorous, empirical economic reporting. And, so I have mentioned, we Filipinos are not entirely at fault. We cannot be blamed for giving more importance to comprehensible information than jargonic gibberish. Also considering the fact that public opinion greatly influences economic policies in our country (i.e. sin tax bill), this, all the more makes the medias role in promoting economic development crucial. I do agree with Mr. Dumdums proposed approach of information campaigns being conducted simultaneously with better news reporting, because better enws reporting alone would not fulfill the expected impact of mass media in the economic literacy of our society. In conclusion, I think that the mass media, is indeed, an important element in aiding the development of a Philippines as a globally competitive economy. It is not enough, however to merely educate people about the Economics and the economic condition of our country at present. Public policies, political will, exhaustive analyses and correct decisions are also parts of the solution to the enigma that is Philippine development. And, in these, mass media can only contribute so much; mass media cannot improve the Philippine economy alone.

Effective Approaches to Prevent Teen Pregnancy Essay -- essays researc

Effective approaches to prevent teen pregnancy After reading numerous articles and abstracts in regards to the ever so intriguing topic of teen pregnancy, I’ve come to a conclusion which is a little different than I had expected. Before reading any of the literature on teen pregnancy, I was under the assumption that the sex education classes provided in school were an extremely effective weapon against unwanted teenage pregnancies. Of the literature references that I’ve used and those of which I have haven’t chosen to extrapolate on, many have reported results based on random surveys while others have conducted quantifiable research to reach their findings. In an article by Dryfoos J in the Planned Parenthood Review, Dryfoos mentions some methods that have been proven to slightly impact the teenage pregnancy issue. The article, â€Å"Preventing teen pregnancy: what works,† the author tells us of what’s necessary for any program designed to prevent teen pregnancy to be effective. He states â€Å"To avoid unintended pregnancy among young persons, two conditions must be met: they must have the capacity and a reason to want to control their fertility.† This means that a teenager must have a reason to prevent herself from becoming pregnant as well as the means to do so. There are programs currently in place which help to provide a means to an end to this problem. They include family life education and birth control services. Programs which assist in providing a reason to not get pregnant include quality of life programs and expanding opportunities programs. Based on studies performed, two trends are emerging. These studi es indicate that sex education can enhance knowledge but little evidence shows that these school based sex education programs have sexual activity or contraception use. Also, evaluations on the method of problem-solving have shown a reduced amount of risk-taking behavior as well as increase in the use of contraceptives for sexually active teenagers. Another article that I chose was the Journal of Adolescent Health by K. A. Hacker, Y. Amare, N. Strunk, and L. Horst entitled â€Å"Listening to youth: teen perspectives on pregnancy prevention.† This article gives statistical evidence of a teen’s perspective on pregnancy prevention. This article gives us a very convincing detailed analysis of their survey including percentages of students who felt a particular wa... ..., as I have discussed before – what is being taught to students is not the reality of the topic, but a non-controversial â€Å"G† rated version of the dangers of early sexual activity. I believe that neither of the two solutions will work without the other. Parents must speak to their children regardless of how awkward it may feel in addition to better and more informative education on the sexuality and its repercussions. Bibliography Dryfoos J. â€Å"Preventing teen pregnancy: what works.† Planned Parenthood Review, October,   Ã‚  Ã‚  Ã‚  Ã‚  2002, pp. 6-7. Hacker, Karen A; Amare, Yared; Strunk, Nancy; Horst, Leslie. â€Å"Listening to Youth: â€Å"Teen   Ã‚  Ã‚  Ã‚  Ã‚  Perspectives on Pregnancy Prevention.† Journal of Adolescent Health, April, 2000,   Ã‚  Ã‚  Ã‚  Ã‚  pp.279-288. Somers, Cheryl L.; Fahlman, Mariane M. â€Å"Effectiveness of the 'Baby Think It Over' Teen   Ã‚  Ã‚  Ã‚  Ã‚  Pregnancy Prevention Program.† Journal of School Health, May, 2001, Vol. 71 Issue 5,   Ã‚  Ã‚  Ã‚  Ã‚  p188, 9p. Wood, B. Daniel. â€Å"Teens, sex, and power of parents.† The Christian Science Publishing Society,   Ã‚  Ã‚  Ã‚  Ã‚  September, 2002.

Reaction Paper for the National Museum

When I heard about you asking us to visit at least two museums and make a reaction paper out of it, I was so excited, not only because I know that you can travel back in time but of course there's nothing feels like getting in touch with your roots but by having to experience or perhaps have a glimpse of how it was like. To tell you honestly, I haven't been in a museum in a while and to put it bluntly, I've never been to the National Museum since I was in Kindergarten wherein I can't understand a thing. I didn't realize that the National Museum is divided into three buildings, Anthropology, National History and the Arts. I was excited to see the Natural History because it is the one that is newly renovated and is famous for the â€Å"Tree of Life† which is the centerpiece of the said museum; unfortunately we were not able to see it due to the lack of time but I will definitely visit that one of these days. I didn't realize that the entrance in the museum is free; I wonder why not a lot of people enter it except those kiddos who were having their field trips. There are lots to see but there's so limited time. It would have been better if there's a guide or a curator to tour us around unfortunately they're busy with the field trip of the kids. Here are some of my snapshots of the museum. I don't want to discuss anymore what I've seen inside because everybody who visited it knows about it. What I want to discuss is how the message of how rich our culture is has resonated on me so much. There were so many goose bumps moments when I was touring around the Museum especially seeing the Spoliarium in person. I caught myself staring at its magnificence for around 5 minutes. I was absolutely amazed and mesmerized by it. I was in awe of it and the experience was really indescribable. I'm not sure if I was just emotional or over reacting or if it was really the feeling it creates for every nationalistic Filipino. I felt like having to experience the atrocities of the Spanish Regime. I can still remember way back in Grade School, I was really fascinated with the Philippine History. This piece showed the world how it was like to be a Filipino way back then. A masterpiece that is comparable to Picassos' Guernica in Spain. It was really moving as it showed the violence experienced by our ancestors. Surely it was used to incense the fire burned in the hearts of the Filipinos to fight against such cruelty. I wish someone will be commissioned soon to paint the effects of the Marawi siege, I'm sure it can be a great addition to the National treasury. On the other hand, I wonder why there were no paintings depicting the Marcos dictatorship. I hope that the National Museum was designed according to time or era so it will feel like just travelling back in time, maybe they want to put it together according to pieces. I was wondering how it was like if every artifacts in all of the museums in the country just like the ones in the Rizal and Aguinaldo shrines will be placed in the National Museum, it could have been a surreal experience for me. After everything I saw I can only conclude that we might be a third world country but our heritage and culture is undeniably rich and should be seen and appreciated by all Filipinos. After everything I've seen today, I can't help but be prideful of how rich our culture is and we should celebrate it just how like our neighboring countries like Thailand and Indonesia have preserved their cultures. It surely is the key to the secrets of our past and certainly defines us as a nation full of great treasures that can rival the best museums in the world.