Experimental economics summary paper Essay Example | Topics and Well Written Essays - 500 words - 5

Experimental economics summary paper - Essay Example Each market involved a series of trading periods in which market participants were free to buy and sell. The institutions being examined are a series of price ceilings and price controls. The study would focus on the following three aspects of market behavior: price levels and market volumes, market responses to institutional modifications, and efficiency. The experiment led to two major results and a conjecture. First market behavior under price controls is more closely approximated by the competitive model than by the focal point model. Secondly market under price controls exhibit behavioral regularities that are not included in standard analysis. Four of those regularizes are: a) controls at the competitive equilibrium cause market to diverge from the competitive equilibrium; b) removal of nonbinding control induces changes in market prices; c) inefficiencies induced by are greater than those predicted by standard application; d) adjustment of prices when biding controls are remov ed appeared to be involved an initial discontinuity or jump rather than a continuous movement. The results of the article can be summarized in that the familiar partial equilibrium model works remarkably well to describe laboratory auction market behavior in the presence of price controls and when price controls are binding.

Beh 225 Appendix D Essay Example for Free

Beh 225 Appendix D Essay Sigmund Freud, is often described as the most famous figure in psychology. Hes written books on Hysteria; commonly being referred to as the father of psychoanalysis. His most popular works being highly influential on others that study psychology. unconscious, Psychosexual development (stages), Neurosis, transference and trauma are theories that Freud has developed over the years. One of Freuds theories was, that the personality is three structures. Another theory of Freuds was that our personality is rooted in the dynamics of the unconscious. He determined that the aggressive and sexual instincts were primarily unconscious drives which could determine our human behavior. Carl Jung is a psychologist that mostly studied the human psyche, dream analysis, and the collective unconscious. Cowgil (1997) refers, He proposed and developed the concepts of the extroverted and introverted personality, archetypes, and the collective unconscious. The issues that he dealt with arose from his personal experiences. For many years Jung felt as if he had two separate personalities. One introverted and other extroverted. This interplay resulted in his study of integration and wholeness. His work has been influential not only in psychology, but in religion and literature as well. She also believed that the unconscious mind had two separate components; the personal unconscious and the collective unconscious. Hall (1997) refers, Carl R. Rogers is known as the father of client-centered therapy. Throughout his career he dedicated himself to humanistic psychology and is well known for his theory of personality development. He began developing his humanistic concept while working with abused children. Rogers attempted to change the world of psychotherapy when he boldly claimed that psychoanalytic, experimental, and behavioral  therapists were preventing their clients from ever reaching self-realization and self-growth due to their authoritive analysis. He argued that therapists should allow patients to discover the solution for themselves. Rogers received wide acclaim for his theory and was awarded various high honors . Through Rogers extensive efforts in expressing his theory of personality through the publishing of books and lectures he gained a lot of attention and followers as well as those who strongly disagree with his theory of personality development. Reference Cowgil, Charles. Carl Jung, 1997. Part II Choose three of your favorite television characters; past or present. Complete the following matrix describing the characters’ personalities from the point of view of the three theorists, Jung, Freud, and Rogers. |TV Character |Jung |Rogers |Freud | |1. | | | | |2. | | | | |3. | | | |

Masking Ends in Deception, Much Ado About Nothing Essays -- essays res

Masking Ends In Deception?   Ã‚  Ã‚  Ã‚  Ã‚  Shakespeare used many literary devices throughout his history to create timeless classics. Much Ado About Nothing is no exception. He used things such as themes, symbols and motifs to create this effect. Masking is the prominent motif in Much Ado About Nothing. It is seen many times over in this play. There are two kinds of masking that Shakespeare used in Much Ado. One is literal masking, this where a character actually wears a mask during the play. This is seen several times. There is also another form of masking that was used in Much Ado About Nothing, this is literary masking and this is when characters hide and/or makeup plots to put into others heads for a benefit or a cause.   Ã‚  Ã‚  Ã‚  Ã‚  In Act II, scene i, a â€Å"masked ball† was underway in a hall in Leonato’s house. This is a prime example of literal masking. In the previous scene, Don Pedro learned of Claudio’s love for Hero. Since he is the â€Å"cupid† of this story, he decides that at the ball he will mask himself as Claudio to determine if Hero’s love is returned. So while at the ball, Don Pedro, masked as Claudio, dances with Hero and says, â€Å"Speak Low, if you Speak love.† Of course she agrees, and eventually she and Claudio plan to be married the following Friday.   Ã‚  Ã‚  Ã‚  Ã‚  During Act II, scene ii, Don John sets up a plan of yet another act of masking. His plan is set up so Borachio looks to be making love to Hero, yet he...

Assess the relevance of Pages 58 – 63 in the History Boys to the rest of the play

When we meet Irwin again at the beginning of Act two he is a man now well into his forties and has moved on from teaching history in a school to filming a television history programme on location. We learn that he is five years older and yet there is a certain irony in the fact that he still recites the same mantra that he used with the ‘history boys' when called in to prepare them for Oxbridge entry If you want to learn about Stalin study Henry VIII. If you want to learn about Mrs Thatcher study Henry VIII If you want to know about Hollywood study Henry VIII' It was all history. It seems that although older and now in a wheelchair his basic attitude and approach have changed little. He is now a ‘personality' presenting a programme upon Rievaulx Abbey and life in monastic orders which he brings down to the level of ‘toilet arrangements' stating that he believes this to be the way to bring history to life and the Director reflects upon how he sounds a ‘tad schoolmasterly'. Irwin, for all his changed position, having been transported from a life in the classroom to in front of a television camera, is still focussed upon viewing things from an unusual perspective and using language to effect as when he reflects upon the different materials being used in place of toilet paper, in effect saying that it is these artefacts which people now come to view saying of them, ‘there is an increment in excrement, so sanitised by the years and sanitised too' so he introduces a note of humour. Indeed he says of what he sees as ‘modern day pilgrims.' ‘We are differently credulous and our cults are not the same but saner, wiser, more rational†¦' He stumbles as if deeply absorbed in reflection of how people's attitudes have changed, yet he can use the same approach. We see that Irwin's approach to teaching and to history has not really changed from that which he expressed when first called in to prepare the boys for Oxbridge entry, For Irwin history is not a matter of conviction and he encourages the boys to be dispassionate and so distance themselves. It was perhaps evident from Irwin's first meeting with the boys that he was prepared to advocate whatever was required in order to gain the described objective. Irwin, the television presenter, has retained this belief in looking at these aspects of history which offer a more controversial approach to the subject. Initially describing the boys' work as ‘Abysmally dull' he recognised to be successful they had to attract attention by using unorthodox methods. His dictum, which was evident as a teacher, was evident when he said, ‘The wrong end of the stick is the right one. A question has a front door and a back door. Go in the back or better still the side.' Read also History Quizzes To shock or surprise was his intent. He then proceeded to express his opinion that history was a performance, For Irwin, unlike Hector, presentation was everything and he has interest in moral truth viewing things as being entertainment, so the first glimpse of Irwin the television presenter was evident even as a teacher. When referring to Stalin, whilst agreeing that he was a monster, he was still perfectly willing to say something in his defence. Thus, to him, the end justifies the means and he revels in being perverse. Irwin sums up the object of his approach, to the man who turns out to be none other than Posner, by describing it as ‘meretricious' and when called upon to define the word he describes it as ‘Eye-catching, showy, false.' This last word almost appears as a damning indictment of his whole approach to teaching. When Posner replies by saying, ‘But you were a good teacher' Irwin simply says ‘The meretricious often are†¦ on television particul arly.' He then backs this up by reflectin that ‘The wheelchair helps of course. Disability brings with it an assumption of sincerity.' We see that he was still prepared to use whatever vehicle to give him the edge and curry favour and sympathy. It was a means to an end, a prop but reveals him to be morally shallow. So it is that we are reminded of our initial meeting with Irwin when, still in a wheelchair, he was addressing three or four unidentified MPs upon the best way of presenting a bill before Parliament, the effects of which would, if examined, would prove to be very contentious concerned, as it was, with the effective ending of trial by jury in at least half of the cases which come before the courts abolishing with it the assumption of innocence. Sadly Irwin's views have become even more morally corrupted, perhaps the person we see before the television camera and addressing MPs is just the logical projection of the teacher who advocated taking a completely opposite or controversial view to attain a desired outcome. It is now just the case that his horizons are greatly expanded and he is able to suppress any moral feelings. He has obviously reached a stage where he is happy to twist debatable aspects to fit in with what he wishes to achieve. His views are well illustrated when he says in defence of a law change, ‘Paradox works well and mists up the windows which is handy' We then come to appreciate how Irwin the television presenter views what he does by saying, ‘School. That's all it is. In my case anyway. Back to school.' He really had come to believe that history was ‘a performance. Its entertainment. And if it isn't make it so.' Perhaps this last statement is so telling of his willingness to subvert the facts and in so doing taking an argument and endeavouring to prove its opposite as he had first done as a teacher who was willing to relegate moral truth for effect.

Change and Culture Case Study Essay

During the past decade the hospital industry has made profound organizational changes, including the extensive consolidation of hospital system through merger and the formation hospital systems (Evans & Gertler, 2012). The rules of health care are changing. Growth is not about just getting bigger. It is about developing all of the components needed for coordinated care and reduced costs. Health system reform has various incentives, such as those related to reducing readmission rates, and establishing an accountable care organization, but qualifying for them requires closer links to other parts of the medical care chain (Breakthroughs -Hospital merger and acquisition strategies, 2012). There is a definite value for growth opportunity through hospital mergers. Mergers occur for several reasons, a desire to increase size, to gain leverage for negotiations with managed care companies, the desire to penetrate new markets to attract additional customers, the need for improved efficiencies resulting from centralized administrative practices, and the desire to express value of promoting readily available comprehensive care. A merger is the combining of two or more corporate entities to create one new organization with one licensure, and one provider number for reimbursement purposes (Liebler & McConnely, 2008). Mergers and acquisitions in health care are increasing in numbers because of the increasing financial, socio-political and managerial challenges of decreasing reimbursement and increasing payor demand for quality-driven, patient-centered and cost-effective services to the community. Restructuring an organization through mergers, and affiliations are characteristic organizational efforts to achieve economies of scale, adapt, and survive. Two such specific reasons include: the need for improved efficiencies through administrative centralization, such as financial, and health information resources streamlining, and marketing intensification, and the desire to promote comprehensive, accessible are by keeping smaller community-based facilities from closing. Valley Care Health System of Ohio consists of the merger between Northside Medical Center, Trumbull Memorial Hospital, and Hillside Rehabilitation Hospital. Valley Care Health System replaced Forum Health name as an affiliate. â€Å"Valley Care sums up our purpose to provide compassionate, quality health care for residents of the Mahoning, and Trumbull Valley† said David Fikse, chief executive officer of Northside Medical Center, and Valley Care Health System.† Each of our hospitals, and health care facilities has its own unique characteristics, but as the same time, we benefit by sharing our knowledge, our best practices, and our strengths across a system of providers† (Valley Care of Ohio, n.d.). Northside Hospital quality scores were down, and the hospital was on the verge of closure before Valley Care Health System purchased it. This essay will discuss the transition of the employees and the impact the merger will have on the culture of the new combined organiz ation and will address how systems will be developed as the new organization takes shape. Trumbull Memorial Hospital and Hillside Rehabilitation Hospital brings us best in class capabilities in inpatient and outpatient services. Blending these companies in a way that maximizes these capabilities and aligns our structure with our long-term strategy is a top priority. First, the managers will need to organize the new organization around the core business needs. These core business needs will form the nucleus of the new combined organization and each business unit will provide resources, decision-making authority, and direct control over matters critical to its success. Because each area is unique, the exact structure of what is contained in each business unit will vary somewhat. Middle management jobs have become more demanding. Technology means middle managers have to do more multi-tasking and are expected to be accessible to their staff. The middle manager of a health care organization that has merged with a competitor faces many challenges. Northside Hospital viewed Trumbull Memorial Hospital and Hillside Rehabilitation Hospital as an enemy that provided good quality of care to the community. Trumbull Memorial Hospital and Hillside Rehabilitation Hospital have very good inpatient and outpatient service programs in place to services the Mahoning and Trumbull County residents. Northside does not have good inpatient and outpatient programs in place. The key is to a successful merger is taking the best of all organizations to form the new organization. The cultural change of a merger between two competing hospitals is a major challenge. Incorporating two organizations into one disrupts operational, functional, and organizational elements at all levels of the organizations involved. This disruption produces stress in all stakeholders, and challenges all to achieve positives results during the transition period and beyond. The higher the change occurs in the hierarch of the organization the greater positive or negative effect on the company. These types of mergers bring about organizational change from the boardroom to the hospital floors, and the impact of integrating two distinct entities with different prior performance, mission, and values has a short and long-term ripple effect throughout the new organization (Evans & Gertler, 2012). An effective manager will foster trust with his or her employees through communication and commitment. A managers’ goal is to maintain a supportive role with the employees without causing chaos. The encouragement of employee participation will make he or she more likely to comply with changes because he or she will own part of the changes. Each organization has its own way of doing business. Employees are used to the way their organization currently works. However, job descriptions, and roles of many hospital employees will change as a result of the merger. Many challenges occur when a merger occurs; especially when it occurs among competitors merge two different organizations into one facility per se disrupts the operation and functionality on all levels involved within the organization. During this transaction, it is an opportunity to combine many knowledgeable individuals, introduce new styles of performing tasks, and introduce different styles of performance. Enhancing meaningful learning by integrating technology into instructional design is central to this project. The most influential theory associated with this process is the cognitive theory of multimedia learning proposed by Mayer (1997). It is based on the theory that humans have two ways or â€Å"channels† of processing information, auditory, and visual, otherwise known as the dual channel assumption. By leveraging both of these means, and by building both of these c onnections between multiple representations of the same information meaningful learning is more likely to occur (Ofverstorm, n.d.). Hence, hospitals are trying to cut costs and deliver care more efficiently, a goal of the 2010 federal health care overhaul; however some mergers can lock up local markets, leading to higher prices for patients and insurance companies with few other places to turn. This is known as an anticompetitive hospital merger (Kendall, 2012). ProMedica Health System, of Toledo, Ohio, tried to attempt a merger of this kind when they went after St Luke’s Hospital in Toledo, Ohio. The Federal Trade Commission ruled that this would eliminate competition in the Toledo Market therefore the acquisition was denied. Middle managers need to support the employees in handling of uncertainty, provide information, and struggle with changing the behaviors of the employees. A middle manager also experiences some individual complications, such as loss of network and reduces in responsibilities. Because middle managers are the carriers of the information, they have to deal with pressure within the organization, partly from the higher management and partly from the employees and manager below him or her. Employees affected by an organizational change require answers to reduce their uncertainty that has occurred with the reform. Employees may also intentionally or unintentionally work against the organizational change, which clashes with top management’s intentions and plans. The dilemma for the middle managers is that they have a large responsibility to execute the strategies put up by the top management, but have no actual authority over these strategic decisions that affects middle management and the employees. Those problems are particularly evident in mergers and acquisitions, which are seen as most dazing organizational changes (Ofverstorm, n.d.). References Breakthroughs -Hospital merger and acquisition strategies. (2012). Retrieved from http://www.healthleadersmedia.com Evans, A., & Gertler, P. (2012). Trends In Hospital Consolidation: The formation of local systems. Retrieved from http://content.healthaffairs.org Kendall, B. (2012). Regulators Seek to Cool Hospital-Deal fever Retrieved from http://wsj.com Liebler, J., & McConnely, C. (2008). Management Principles for Health Professionals (5th ed.). Sudbury, MA: Jones and BArtlett. Ofverstorm, A. (n.d.). A Middle Manager’s Dilemma in Mergers. Retrieved from http://arch.hhs.se Valley Care of Ohio. (n.d.). Valley Care Health System of Ohio. Retrieved from http://www.valleycareofohio.net

The Ideals of the Code of Masculinity in Advertisements

The Ideals of the Code of Masculinity in Advertisements Many print advertisements which promote cigarettes, alcohol, sport clothes, and perfume for males present strong men who embody the concept of masculinity. In spite of the fact it is popular today to focus on handsome and rather feminine men in advertisements, the idea of masculinity is widely supported in the media and advertising.Advertising We will write a custom critical writing sample on The Ideals of the Code of Masculinity in Advertisements specifically for you for only $16.05 $11/page Learn More In his work, Michael Kimmel focuses on the key claim that the men’s life is regulated by a specific code of masculinity the basic norms of which are to never demonstrate emotions and weakness (Kimmel). This idea is reflected in the Stetson, Djarum Super, and Nike ads. Thus, masculinity is the complex notion which rules the life of men in order to confirm their gender, status, and social position. The Stetson, Djarum Super, and Nike advertisements seem to be about energetic and confident men and about products which contribute to the males’ active behaviors, but these ads are really about the features and qualities which are associated with masculinity and actions of a ‘real man’ according to the definite code of conduct for males. Masculinity is a complex of rules and ideas which are usually followed by men during all their life. It depends on the demonstration of strength and focus on success and victory, the demonstration of aggression and readiness to risk. The physical attractiveness and emotional expressiveness are perceived as the female qualities that is why they are prohibited according to the ‘Guy Code’ or code of masculinity (Kimmel). Men are afraid of being compared with women when it is a result of the other men’s perception. The Stetson advertisement seems to be about a handsome man using the definite perfume. The advertisement to promote the Stetson perfume for males presents a man in a car against the background of the wild nature (â€Å"Stetson†). Discussing the visual with the help of the masculinity lens, it is necessary to concentrate on the details which can attract the men’s attention and become associated with masculinity in order to make the potential male customer buy the product. Thus, the man’s appearance is associated with strength because of the accentuated muscles and the definite male face expression with frowning brows. These details help create the image of a masculine man. The man is depicted in a red car, and the color is typically associated with courage and aggression. The background of the visual is the picture of the wild nature which can be connected with the pictures of the American wild territories (â€Å"Stetson†).Advertising Looking for critical writing on advertising? Let's see if we can help you! Get your first paper with 15% OFF Learn More Focusing on the pitch, this adve rtisement makes the audience believe that the portrayed man can be discussed as the image of the typical American who uses the production of the Stetson company because it emphasizes his masculinity. From this point, the cultural context of the advertisement is presented through the manipulation of the male American’s image. The above-mentioned details allow speaking about the effective usage of the masculinity idea in promotion. According to Kimmel, men are inclined to focus on the images of ‘real men’ during their childhood in order to follow these ideals during their ‘guy’ period (Kimmel). The advertisement can be discussed as depending on the strong associations which are the result of the men’s following the code of masculinity. Males are expected to positively react to such elements as the car, which is traditionally a ‘toy’ for adults, the red color associated with aggression, wild nature associated with risks, and muscles along with the masculine appearance associated with strength. Thus, the male image presented in the advertisement can be discussed as the embodiment of masculinity with references to many rules presented in the Guy Code. The Stetson advertisement seems to be about a handsome man using the definite perfume, but it can also be about the ideal embodiment of a man according to the code of masculinity which is based on associations. More direct messages are provided in the advertisement developed to promote the Djarum Super cigarettes (â€Å"Djarum Super†). The Djarum Super advertisement seems to be about an alpinist who can achieve the highest tops. Smoking is often discussed as a habit which is typical mainly for men. To make males buy the product, it is important to provide the association which will be pleasant for them. The visual represents a man climbing a rock against the background of strong grey and brown rocks and the pale sky. The man likes extreme, he is not afraid to risk because of focusing on strong feelings and emotions. Red colors are also presented in this visual to emphasize the atmosphere of risk and brutality (â€Å"Djarum Super†). If the man presented in the first advertisement evokes masculinity associations indirectly, the male figure depicted in the second advertisement is directly associated with a strong man who used to overcome problematic situations, barriers, and challenges in order to reach the top.Advertising We will write a custom critical writing sample on The Ideals of the Code of Masculinity in Advertisements specifically for you for only $16.05 $11/page Learn More The advertisement makes the male audience believe that extreme and risks are characteristic for men, and it is one of the masculinity elements. It is possible to predict men’s interest in the brand of cigarettes promoted because of the vivid associations. Thus, the advertisement wants the viewer to believe that smoking is for brave men who can achieve the highest tops. The cultural context is rather insignificant in this case. Following Kimmel’s discussion of masculinity and men’s fears to be considered as gays, it is necessary to note that the advertisement for the Djarum Super brand rejects any associations with feminine men. The presented man does not cry, but he is persistent while reaching the set goal. The image can be discussed as supported by the society in relation to the opinion on the ‘real man’ and idea of masculinity (Kimmel). As a result, the advertisement seems to be about brave alpinists, but it could be about such qualities as courage, persistence, confidence, and the ability to take risks which allow speaking about the male’s masculinity. Nevertheless, the message presented in the advertisement is more effective when it is accompanied by the written text. The advertisements developed to promote the Nike’s campaign seem to be about the famous sportsmen presenting the new shirts in a rather provocative manner. The advertisement with Aidil Zafuan where the man is stripping off his skin to represent the shirt is accompanied with the controversial slogan â€Å"Shirt on. Fear off† (â€Å"Nike†). This written text provides the direct reference to the code of masculinity according to which men should not feel any fear and demonstrate their weakness. The advertisement wants the viewer to believe that men should not feel fear and promote the associated Nike production. Sportsmen are the best models to emphasize the idea of the male strength. Men are interested in sport because they are interested in results, success, and victory. All these points along with the idea of avoiding fear are highlighted in the Nike advertisement. In spite of the fact the cultural context of the Nike advertisement is specific and the visual represents the Malaysian footballer, the masculinity idea is accentuated clearly and without refer ences to the national or cultural aspect.Advertising Looking for critical writing on advertising? Let's see if we can help you! Get your first paper with 15% OFF Learn More It is possible to interpret the Nike advertisement with references to Kimmel’s claim and state that it is easier for men to skip off their skin than to admit or demonstrate their fear (Kimmel). Boys do not cry, and the advertisers operated this idea fully. The advertisement seems to be about sportsmen stripping off their skin, but it is really about the connection between sport, fashion, and masculinity because ‘real men’ do not feel fear and pain, and sportsmen are the best examples. While the discussed advertisements seem to be promoting the definite products, they are really promoting the image of a man based on the idea of masculinity and encouraging the associated males’ behaviors. A superficial viewer may believe the Stetson, Djarum Super, and Nike advertisements to be about energetic and confident men, but the viewer who is familiar with Kimmel’s claim would see the advertisements as really selling the image of a ‘real man’ whose masculinity is also associated with the usage of the promoted products. The above-mentioned advertisements attract the male audience because they operate the concepts related to the code of masculinity discussed by Kimmel. The code of masculinity stresses on definite attitudes and behaviors reflecting a man’s masculine nature, and these norms reject any signs of the feminine behaviors in men. However, the effect can be decreased, if the advertisements are done differently. I can state that if the Stetson advertisement focuses more on a handsome model, the idea to represent a ‘real man’ can fail. If the Djarum Super advertisement is represented with the changed illustration, the idea of masculinity will not work. If the Nike advertisement is presented with the other text, the whole message cannot be interpreted correctly. Thus, the idea of a ‘real man’ is a complex notion which includes definite actions, emotions, feelings, behaviors, and aspects of appearance, and the Stetson, Djarum Super, and Nike advertisements are developed to support this idea related to the masculinity concept. â€Å"Djarum Super†. n.d. JPEG file. Web. Kimmel, Michael. â€Å"Bros before Hos: The Guy Code†. Rereading America. Ed. Gary Colombo, Robert Cullen, and Bonnie Lisle. USA: Bedford/St. Martins, 2010. 608-617. Print. â€Å"Nike: Malaya Posters†. 2012. JPEG file. Web. â€Å"Stetson: Tom Brady†. 2007. JPEG file. Web.

buy custom Protectionism essay

buy custom Protectionism essay In the past, protectionism was believed to have an origin from mercantilism, which was believed to bring about a positive balance in trade. It was also closely associated with import substitution. It was at this time that classical economist Adam Smith advised against the interested sophistry of industries, which were seeking to take advantage of the consumers. All through history, majority of the classical economists supported protectionism. However, present day economist lobby for the removal of protectionist trade policies as they claim that its costs are over and above its benefits ; therefore, harmful to the world economy (Singer, 1950). A greater percentage of the contemporary economists uncompromisingly support the anti-protectionist school of thought. They; therefore, have sought to support free trade, which involved no barriers to trade with other nations. In the last century, the world economy has seen a considerable increase in the value and volume of trade. This phenomenon has been experienced in both developed and developing countries. A great percentage of countries are familiar with the long-term benefits presented by free trade. However, there are unending disputes of what free trade truly is. Trade is considered a mechanism that aids in the growth of the aggregate demand and aggregate supply sides of any economy in the world. Nevertheless, there are frequently arising trade disputes between different nations. This happens when one country thinks that there is an uneven playing field the other country is carrying out trade unfairly. Another instance is when the said country believes that it is economically justified for a certain level of import control. Free trade, like most economic policies, has both winners and losers. Different countries benefit differently from free trade depending on their level of competitiveness. If any country thinks it is not benefitting from free international trade, then it has the right to seek some form of protectionist measure of import control. Protectionism This is the effort by and government to enforce restrictions on trade between countries. This may be done by imposing tariff or non- tariff barriers to trade. Non-tariff barriers are such as embargoes, quotas, exchange controls and export subsidies. Tariffs Several economists define a tariff as a tax, which caused the price of imported goods to go up. This leads to a reduction in domestic demand and a general increase in domestic supply. The overall result is that the government gets tax income from the tariff while the level imports are reduced to a certain level. The maximum tariffs are, most of the time, levied on goods coming from developed nations. Amongst non-agricultural products, the European Union has over 135 tariff lines, which are over 15%. Most of these are in labor-intensive goods, which developing countries have a comparative advantage. America has 230 tariff lines above 15%. Import quotas Imposition of quotas causes a physical limit to the value of imports and to the number of units that are imported. Administrative barriers Some nations choose to use administrative barriers as a form of trade protectionism. In such a case, the government may choose to be unnecessarily bureaucratic on firms, which want to import commodities into the country (Singer, 1950). Administrative barriers may be in several forms such as long delays in customs arrangements or inflexible safety and requirement checks. This can be seen in the standards that the European Union imposes on dairy product imports. Preferential Government Procurement Policies and State Aid In such a case, the government allocates significant spending on projects, which do not favor foreign suppliers but rather favor domestic suppliers. This policy is against free trade principles, but it is a crucial part of the trade policies for the developed nations such as nations in Western Europe. An example is such as the awarding of contracts to suppliers of security equipment or construction companies, which carry out infrastructure ventures. The use of financial assistance from the state may also limit free trade in a country. This is such as the use of subsidies in certain chosen sections of the economy. Economic impacts of protectionism Protection from foreign dumping Under the World Trade Organization rules and regulations, dumping is illegal. This is a form of price discrimination and voracious pricing behavior. Dumping is often used in the context of trade disputes between two countries. Businesses from one country may come up and give evidence that manufacturers from the other country are exporting commodities at a cheaper below the actual cost of production. However, it is a difficult and time-consuming task to prove allegations of dumping by a given manufacturer. It is; therefore, hard to prove, and few firms seek to do so. A good number of developing countries often complain about the export refunds offered by the EU to producers. This has the effect of causing a substantial reduction in cost of production for the suppliers. It in turn, leads to lower prices and the offloading the surplus commodities to developing economies. This leads to an adverse effect on the level of demand, profits and competitiveness of the domestic producers even in their home country. Infant industry Some industries may have a potential, comparative advantage in a given sector, but have not yet been able to fully exploit the prospective economies of scale available to them. This calls for short-term protection from established foreign firms to allow the infant industry to establish its own level of comparative advantage. After this, the trade policy protectionism is relaxed to allow the firm to trade competitively with its foreign counterparts. However, this form of protection may cause the industry to be unable to achieve full efficiency. The government may be forced to make these short-term policies permanent. Market failure, externalities and import controls Protectionism can also be used to deal with negative externalities and demerit goods. Demerit goods are such s narcotic drugs, alcohol and tobacco, which have unpleasant social effects. Protectionism can be used economically as a tool to reduce the importation of such commodities or wholly inhibit importation. This may be done by setting high tariffs on these commodities. Supporters of protectionism claim that protectionist laws, which keep out goods from foreign competitors, will save jobs and give domestic manufacturers a chance to prosper and thus cause a positive impact on trade deficits (Schwartz, 2000). On the other hand, protectionism has its costs. A country seeking to put up protectionists laws should first critically weigh the pros to the cons. By this, nations will either choose to the trade policy protection way or the free trade way. Costs of trade policy protectionism John Stuart Mill, a classical philosopher and economist, noted that trade barriers are notably detrimental to any country that chooses to effect them. The folly of protectionist trade policy has been studied by economist throughput the world. All these studies have led to one conclusion; the costs of protectionism entirely outweigh the benefits offered by this trade policy. The main arguments against trade protectionism are as follows: Market distortion Protectionism has proved to be extremely ineffective at sustaining the level of employment in a country. Hurting the consumer Tariffs as a form of trade barrier cause the tax charged on a commodity to increase. This further increases the cost of production and in turn lead to higher prices for the imported commodities. They also protect ineffective sectors of the economy from competition. These tariffs hurt the foreign producer and lead to inefficient allocation of resources both within the country and globally. Import controls enforce costs on the consumers that would not be there if the country practiced free trade. Forms of protection such as tariffs and non-tariff barriers act as a tax on domestic consumers. They are a form of taxation that is regressive in nature. This is because; they hurt the poor consumers as compared to their richer counterparts (Schwartz, 2000). An example is in the European Union where the protectionist policies mean that the highest tax is imposed on necessities such as food and clothing. Loss of jobs Protectionism trade policy may either enforce quotas and/or raise the tax on imported commodities that are entering into the country. These laws limit consumer choice tremendously and increase the cost of doing business and purchasing commodities (Lewis, 1954). In fact, when these protectionist laws reduce consumer spending, they also reduce the level of employment. This can be seen through a survey carried out by the US department of labor. It showed that protectionism causes the loss of eight jobs while saving only one job in the protected industry. Increased prices In Japan, the consumers pay approximately five times more than the world price for rice. This is due to the import restrictions that are put by the government in a bid to protect the Japanese farmers. American consumers also suffer the same fate and end up paying six times more the global market price for sugar. This is due to the trade restrictions imposed by the American government. Protectionism trade policy forces consumers to pay more tax on imported commodities. In addition to this, it also raises the level of general taxes for the consumers. This is because, the government has to increase the bureaucracies existing in the customs department (Lewis, 1954). This is a form of trade regulation. However, the bureaucrats have to be paid. This increases the expense for paying increased customs personnel. As a result, there will be increased taxes to fund this government expedition. Not everyone loses from protectionist trade policy. Some groups such as large corporations, farmers and unions benefit from these laws. They enjoy the support of the government to get higher wages than would be expected in the world market. Trade wars If the government of a given nation A put up trade restrictions against the imports from country B, then country B will strike back by also putting up trade restrictions on imports from country A the final result of this is that both countries will lose. Infant industry protection Economists against the protectionism trade policy have argued that, after the period of protection, the protected industry is likely to have grown. This gives the industry the power to thwart and oppose legislation hence the removal of protection is heavily restricted. This may lead to permanent protection by the government of this industry. Another argument against infant industry protection is that the best way for the government to intervene is not through a tariff but rather by the use of subsidies. A subsidy will be more effective than a tariff if the aim is to increase production. This is because a subsidy does not bring about the unpleasant effect of reducing consumption in the end. Loss of economic welfare Tariffs cause deadweight loss of both the producer and consumer surplus. This is due to a loss of allocative effectiveness. The consumer welfare is reduced by a limit in his/her choice and by an increase in prices. Poor distribution of income An increase in tariffs on consumer goods such as foodstuffs and other necessities often attacks the low-income consumers the most. This protectionism policy may lead to further inequalities in income distribution, in a given country. Production inefficiencies Industries that are protected from competition from their foreign counterparts often have no incentive to produce quality goods or even lower their production costs (Todaro, Michael, Smith, 2009). Negative multiplier effect If a given country puts up trade restriction so goods from another country, the resulting decline in total trade will cause a negative multiplier eeffect. This will have an effect on other countries because exports are an injection of demand to the worldwide circular flow of income. This multiplier effect can be seen better, when the trade war leads to a strike back by the other country. Protectionism policies hardly ever achieve their objectives. They are exceptionally costly to enforce and lead to higher costs by providing the domestic producers with a shield. Economic nationalism This is used to define regulations that are led by the principle of shielding a countries home economy (Todaro, Michael, Smith, 2009). This involves protecting jobs, domestic consumption and investment even if it requires that a tariff, quota or any other means of regulation be imposed. Professor Ha-Joon Chang from Cambridge University argues that almost all developed countries of today promoted their national industries to their current position through protectionism. An example is in the UK and the US where their governments put up relatively high tariffs during the period when they sought industrialization (Chang, 2002). Some economists; therefore, argue that it would be unfair for these countries to re-institute protectionism trade policy. By doing this, they would be preventing developing countries from achieving their own level of development. The alternative to protectionist trade policies is the enforcing of free trade in the society. Most present day economists favor free trade over protectionist trade policy. This is due to the nature of the benefits offered by free trade. Free trade and its benefits Free trade promotes competition and innovation Very few people in the world today grow all their food or even sew all their clothes. This is because they can get them relatively easily. Another reason is that it people feel making their own commodities is time consuming and would cost them too much (Chang, 2002). This opinion also holds in international trade. It is economically sensible to purchase products from those who have specialized in its production or from those who can make it at a cheaper cost and more easily. The main purpose of engaging in trade of any form is so that to acquire access to a greater choice of goods and services. A country participates in exports to be able to acquire goods from other countries in return. Importing; therefore, should be unrestricted since it is unavoidable for the benefit of exporting. Many economists see free trade as the only type of just trade. This is because it offers consumers a wide range of goods and services without restrictions to enable them to improve their standards of living. Free trade also promotes competition and innovation of the local industries. This means that local industries will aim at producing quality goods at a cheaper price to enable them to compete with their counterparts overseas. Protectionism trade policies hinder this level of competition as the industries are shielded from any form of competition. Generates economic growth Free trading rewards risk taking industries with increased profit margins, sales and market share. Companies may reinvest these profits by entering new markets, expanding their operations and creating employment and higher paying jobs. Rivals of free trade fear that if the government removes protectionists trade policies, then people will lose their jobs, especially those working in the manufacturing sector (Lewis, 1954). However, the growth of developed economies such as the U.S is of immense benefit even to poorer countries. When these countries trade with the developed countries, they are able to acquire capital for their budding businesses. This fuels production and fosters the development and growth of new industries. People living below the poverty line are thus able to increase their living standards, acquire more goods and better wages. Free trade; therefore, allows for a win-win situation for both the developed and developing countries. Less developed countries have been caught up in poverty despite all those years of financial aid. The advantage of the less developed countries being able to trade for capital goods other than rely on foreign aid is that the payoffs from investing in development of industries is more long lasting. This is because the funds obtained from foreign aid are privy to fraud and waste by those administering it. Trade in capital goods reduces the dependence of developing countries like Kenya on already developed countries. Free trade disseminates democratic values. Free trade encourages support for the rule of law. Firms that engage in international trade are forced to abide in the rules and regulations found in contracts and any other international laws of trade. An outstanding example is how the World Trade Organization requires all its members to abide to terms of trade. Also in the event of any trade dispute, its members have to honor the decisions that WTO comes up with to end the trade dispute (Chang, 2002). Like all other trade policies, free trade also has a substantial number of demerits. These are such as: It may lead to entry of harmful products such as drugs and illegal arms, which may lead to loss of social welfare May cause dumping especially in less developed nations May lead to loss of employment in industries which do not have a comparative advantage in production. The government may lose the tax revenue obtained from enforcing tariffs There are countless benefits to protectionism as there are to free trade. A country; therefore, should choose which of the two trade policies improves the living standards of its citizens while leading to substantial economic growth. A country should be able to forego the cost of its chosen trade policy when weighed against its benefits. On the other hand, when making this crucial decision it would be of utmost importance for the government to note that contemporary economist of today supports the abolishing of protectionist trade policy. Almost all of these economists and philosophers whole-heartedly embrace the logic of free trade in the world. Buy custom Protectionism essay