Assignment Unit 4 Legal And Ethical Issuesfin Essay

Assignment Unit 4 Legal and Ethical issues Legal issues Legal issues that affect Northbrook college are: Data Protection Act 1998: This controls the personal information that the government or organisations have of you and how it will be used. This gives individuals the right to know what information is held about them. The Data Protection act as 8 principles; 1) Data may only be used for the purpose it is collected. 2) Data must not be passed on to other people without the consent of the person whom it is about. 3) People have the right of access to the information held about them. 4) Personal information may be kept for no longer than is necessary and must be kept up to date. 5) Personal information may not be†¦show more content†¦The codes will certainly protect IT administrators who run the servers and will often be the first to detect misuse. Northbrook shows the codes of practice as they welcome everyone to college despite the students abilities, background and characteristics – including the adult’s age, sex, sexual orientation, religious persuasion, racial origin, ethnic group, and cultural and linguisiotic heritage. An organisation’s policies may have a significant effect on how it treats information. This is the equality and diversity policy of Northbrook. This is what every organisational policies should be. Information ownership This would prevent staff at one location accessing information held at another location even though the company would be happy for them to do so. The department that produced the data should own every field of data in every record. They should have the responsibility for making sure that it is entered into the computer system in a timely way, that it is correct and that it is consistent. This links in with plagiarism at Northbrook. Security of information and back ups Northbrook keep all data and information stored at broad water campus in a fireproof cabinet. They have backups frequently to make sure all information is kept safe and not lost. Health and safety polices to abide by Northbrook have a Health and safety page on Blackboard for all students and

Management of pressure ulcers in a high risk patient a case study Free Essays

string(37) " bed with the support of wheelchair\." 1. Introduction Clinically, pressure ulcers are defined as the lesions that are the result of localized tissue damage or cell death (generally necrosis), developed because of pressure over a bony prominence.More commonly, they are also known as pressure sores or bedsores as they are mainly developed by patients that are bed-bound (Wake, 2010). We will write a custom essay sample on Management of pressure ulcers in a high risk patient: a case study or any similar topic only for you Order Now Approximately, 3 million adults are affected by pressure ulcers and are most common in hospitalized patients (Lyder and Ayello, 2008). However, effective management and care plans against pressure ulcers are still lacking. The role of nursing care is a fundamental aspect to pressure ulcer management, including its prevention and treatment (Wake, 2010). In this case study report, I visited a diabetic patient as a district nurse for insulin administration and provide support by assessing the patient’s risk of developing pressure ulcers due to associated pathological and other risk factors. 1.1. Purpose of the study In all health care settings, pressure ulcers remain one of the major issues. More so, pressure sores or pressure ulcers are associated with significant cause for morbidity in the medical community. The main purpose of this patient visit was to provide healthcare support for patients who were at risk of developing pressure ulcer. The healthcare support included the risk minimisation by doing risk assessment, therapeutic interventions, suggestions for lifestyle changes including exercise and dietary habit. All these were targeted with the views of providing timely assessment of pressure ulcers in high risk patients, and suggest therapeutic interventions for timely treatment of the condition. 1.2.Patient history The patient was 75 years old male, diabetic and paralysed due to recent stroke attack. He was completely bed bound and was on wheelchair. Furthermore, the patient was suffering from cancer of the oesophagus. Since the patient could not mobilize, his family members and carers used to transfer him from the bed to his wheelchair and wheelchair to his bed. 1.3. Risk assessments of needs, vulnerabilities and strengths of the patient The patient was chronically ill and had several complications associated with his conditions. Stroke attack had caused him paralysis and was unable to move. This had put him in significant risk of developing pressure ulcers. The patient was also diabetic. Diabetes causes slow healing of wounds that may lead to ulcer (Guo, et.al. 2010). In this patient, the combination of factors including diabetes and immobility had increased his risk of developing pressure ulcers. Other factors such as old age of the patient, cancer and dietary factors would trigger the development of these pressure sores. Cancer is a chronic disease that may cause severe debilitation and prolonged confinement to bed. Therefore, it is expected that patients with cancer are at significant risk of developing pressure ulcers (Walker, 2001). Diet may have a supporting role in the development of pressure ulcers. Although the role of nutrition in preventing the development of pressure ulcers is still debatable, it is obv ious that patients who are malnourished are at risk of developing those (Doley, 2010). Thus, nutrition therapy could be central in minimising the risk of developing pressure ulcers. It was seen that the patient was clearly underweight due to his chronic health conditions. Overall, the following risk factors of the patient were considered while making his assessment. Based on these risk factors, care plans and suggestions were made to minimise the risk in the patient. Sensory factor: This factor was assessed in order to identify how well the patient can process sensory input from the skin, as well as how effectively he can communicate level of sensation. Since the assessment of skin is an important way to identify patient’s risk of developing pressure ulcers, it would ensure the degree of risk of pressure ulcer in this patient and hence, take measures to prevent them before complications arise. Moisture: Moisture is another hallmark of pressure ulcers. Excess skin moisture puts patients at greater risk of developing pressure ulcers. It is common that patients who are confined to bed produce more sweat. Thus, it is required to evaluate what degree the skin is exposed to moisture. Activity Lack of activity is one of major risk factors of developing pressure ulcers in bedbound patients. Continuous friction between the skin and bed mattress may result the development of pressure sores. Measuring the activity is another important parameter to predict the patients’ risk of pressure, irrespective of their degree of mobility. Patients who are unable to move need to be physically turned by healthcare staffs or family members at regular intervals Nutrition As mentioned earlier, although nutrition may not have direct effects on the patient’s risk of developing pressure ulcers, it may be possible that lack of required nutrients may increase its complications. It is thus important to evaluate what constitutes the usual pattern and amount of caloric intake in the patients. After evaluating the above risk factors in the patient, it was concluded that the patient was likely to develop pressure ulcers if timely interventions were not introduced. These would have direct effect in patient’s health. These ulcers influence the risk of bacterial and viral infections, which can become life threatening in chronically ill patients. In addition, there is a high rate of mortality associated with pressure ulcers. Mortality rate is high as 60% is reported in older patients with pressure ulcers within 1 year of hospital discharges (Lyder and Ayello, 2008). The patient in this case study could have weakened immune system due to his old age and illnesses such as cancer and diabetes. In immune-compromised patients, the risk of infections spreading into their blood and other organs of the body are considerably high. This may result blood poisoning and septicaemia. Both these conditions are very fatal and categorised as medical emergencies (Redelings, et.al. 2005). However, despite of several associated risk factors, the patient was provided with proper care and support by his carers and family members. He was regularly taken off from his bed with the support of wheelchair. You read "Management of pressure ulcers in a high risk patient: a case study" in category "Essay examples" More so, the patient was on medications to control his blood sugar. He was also supplemented with vitamin to strengthen his immunity. To conclude, patient although was receiving appropriate healthcare service, these were mainly therapeutics which included medications against the chronic illnesses which he had. Patient and family members were lacking suggestions and expert advice in regards to minimising the risk of pressure ulcers. It was also observed that the patient was provided with a normal bed and mattress that would further trigger the risk of developing sores. 2. Interventions and referrals After evaluating the patient’s condition, as a district nurse, I provided the evidence based interventions and referrals to the patient and his family members and carers as preventive approaches of pressure ulcers. Firstly, the patient was provided with a hospital bed with pressure relieving mattresses. This would help minimise the friction between patient’s body and the bed and hence, reduce the risk of pressure ulcers. Moreover, this would provide support surfaces and help in pressure redistribution (Stannard, 2012). Several recommendations for skin care including the use of cold water instead of hot water, use of mild cleansing agents to minimise irritation and dryness of the skin and excessive moisture was suggested. The patient was also advised to avoid low humidity as it may promote scaling and dryness (Lyder and Ayello, 2008). Further suggestion such as avoiding mechanical loading was given. This is considered as one of the most effective preventive measures of p ressure ulcers in hospitalized patients (Lyder and Ayello, 2008). Thus, family members were advised to frequently turn and reposit the patient while in bed. It is essential that patient intake adequate levels of both macro and micronutrients to prevent complications of pressure ulcers. This patient was already supplemented with vitamins and minerals, so no action was taken. However, the patient was suggested to eat diet high in proteins, which are essential for wound-healing and overcome malnutrition. Management of pain is another key aspect in patients with pressure ulcers (Cooper, 2013). Pressure ulcers can be very painful and may require interventions with analgesics (Wake, 2010). However, this patient did not require analgesic treatment as the pain due to pressure ulcers was not very severe. Instead, focus was given on the preventative approaches in minimising the complications associated with pressure ulcers. Finally, the focus was given on the patient/carer education in the management of pressure ulcers. Both patient and carers/family members were made aware about the risk factors of pressure ulcers. Also, they were educated and made aware on the most vulnerable sites of the body that are at risk of developing pressure ulcers. General training was also given on how to take care of skins and methods for pressure reduction. They were told about the severity of the condition and requested to seek medical advice if symptoms of pressure ulcers persist. 3.Critical evaluation and evidence-based examination of outcomes of interventions and referrals The interventions and referrals made for the patient in this case study were evidence based. Risk assessment was made considering the standard pressure ulcer prediction tool, Braden Scale, by observing the six vital signs of pressure ulcers as explained earlier. This tool has allowed for the early prediction of pressure ulcers and thus introduction of early interventions before the complications are developed (Sving, 2014). Classification of pressure ulcers is one of the best ways to predict its outcome. Pressure ulcers are classified into various stages (Lyder and Ayello, 2008). Stage I is determined by the presence of redness in the skin. In case if the redness in the skin is observed, nurses are required to make thorough skin inspection and advice patients about the preventive measures. Stage II is characterized by the loss of skin with the presence of blisters. In stage III loss of skin is quite thick; however, not exposed to muscle or bone tissue. In this stage, there is a high risk of infections, so care should be given in personal hygiene (Sving, 2014). Also, patient should be suggested to include vitamins and minerals in the diet to prevent the possible risk of infection. In stage IV there may be an exposure to bone, tendon and muscle. This condition is considered as potentially dangerous, due to associated risk of life threatening bacterial infections. In many cases, this may also require hospi tal admission to reduce further complications (Lyder and Ayello, 2008; Sving, 2014). To conclude, nurses are required to assess various stages of pressure ulcers and provide treatments and suggestions based on these stages. This is because; different stages of pressure ulcers may require different treatment plans. Some could be minor and may be improved through general suggestions such as encouraging patients to move and involve in physical activities and maintaining healthy diet; whereas some may require therapeutic interventions including the use of antibiotics to treat bacterial infections, dressing and cleaning of the wound and hospital admissions if complications are severe. (Wake, 2010). Ample evidence is now available on the understanding of effective pressure ulcer treatments. Treatment strategies such as use of hospital bed, avoiding mechanical loading, and physical activity are now considered as the standard form of treatments in pressure ulcers. These approaches not only reduce the risk of pressure ulcers, but are also beneficial in lowering its complications. Furthermore, the association of pressure ulcers with other chronic diseases such as cancer, diabetes and stroke are well understood. Thus, much attention is to be given while giving care to the patients who have these conditions. Educating patient and family members on the risk factors and management is another approach to pressure ulcer management as suggested by NICE guidelines (Wake, 2010) However, the available knowledge on the evaluation of risk assessment of pressure seems insufficient. The evidence lacks support and requires further epidemiological research to understand risk factors of pressure ulcers in greater depth. Some of the interventions and their effectiveness including re-positioning and nutrition are still questionable. Further studies on the influence of different turning intervals on the development of pressure ulcers need to be carried out. Similarly, what specific diet is suitable for pressure ulcer patients needs further clarification. Appendix1: Care plan of the patient Risk assessmentCare goalsInterventions and evaluations Patient’s needs and vulnerabilities : old age, bed-bound, chronic diseases including cancer and diabetes, paralysed due to strokeTo identify the patient’s risk of developing pressure ulcersThe patient was provided with hospital bed, cushion for his wheelchair and family members were suggested to move the patient time to time Patient’s strength: on proper medications, carers and family members providing the support, supplemented with vitamins and minerals to boost the immune functionTo build on the patient’s strengths and to meet his needsPatient was provided with full support from the family members. High protein diet was suggested as this may improve would-healing. Signs of complications, such as pain, bacterial and viral infections.To avoid complications associated with infections including blood poisoning and septicaemiaImmune booster such as vitamins and disinfectant creams to avoid infections. References Cooper, K.L. 2013, â€Å"Evidence-based prevention of pressure ulcers in the intensive care unit†, Critical Care Nurse, vol. 33, no. 6, pp. 57-66. Doley, J. 2010, â€Å"Nutrition management of pressure ulcers†, Nutrition in clinical practice : official publication of the American Society for Parenteral and Enteral Nutrition, vol. 25, no. 1, pp. 50-60. Guo, S and DiPietro, L.A, 2010. Journal of dental research. Factors Affecting Wound Healing, vol. 89, no. 3, 219-229. Lyder, C.H and Ayello, E.A, 2008. Patient Safety and Quality: An Evidence-Based Handbook for Nurses. Pressure Ulcers: A Patient Safety Issue. Lyder, C.H, 2003. Clinician’s corner. Pressure Ulcer Prevention and Management, vol. 289, no. 2, pp. 223-226. Lyder, C.H. 2006, â€Å"Assessing risk and preventing pressure ulcers in patients with cancer†, Seminars in oncology nursing, vol. 22, no. 3, pp. 178-184. McInnes, E., Jammali-Blasi, A., Bell-Syer, S., Dumville, J. Cullum, N. 2012, â€Å"Preventing pressure ulcers–Are pressure-redistributing support surfaces effectiveA Cochrane systematic review and meta-analysis†,International journal of nursing studies, vol. 49, no. 3, pp. 345-359. Redelings, M.D., Lee, N.E. Sorvillo, F. 2005, â€Å"Pressure ulcers: more lethal than we thought?†, Advances in Skin Wound Care, vol. 18, no. 7, pp. 367-372. Stannard, D. 2012, â€Å"Support surfaces for pressure ulcer prevention†, Journal of perianesthesia nursing : official journal of the American Society of PeriAnesthesia Nurses / American Society of PeriAnesthesia Nurses, vol. 27, no. 5, pp. 341-342. Stechmiller, J.K. 2010, â€Å"Understanding the role of nutrition and wound healing†, Nutrition in clinical practice : official publication of the American Society for Parenteral and Enteral Nutrition, vol. 25, no. 1, pp. 61-68. Sving, E., Idvall, E., Hogberg, H. Gunningberg, L. 2014, â€Å"Factors contributing to evidence-based pressure ulcer prevention. A cross-sectional study†, International journal of nursing studies, vol. 51, no. 5, pp. 717-725. Wake, W.T. 2010, â€Å"Pressure ulcers: what clinicians need to know†, The Permanente journal, vol. 14, no. 2, pp. 56-60. How to cite Management of pressure ulcers in a high risk patient: a case study, Free Case study samples

Equal Rights, Equal Obligations, Equal Opportunities free essay sample

This essay discusses women in the military and the law. This paper discusses the legal basis of the situation of women in the military, and relevant court cases such as Hoyt v. Florida, Taylor v. Louisiana, US vs. St. Clair, Rostker v. Goldberg, Craig v. Boren, and Schlesinger vs. Ballard. Discusses myths and truths regarding women and military service. Argues for equal rights, equal obligations, and equal opportunities within military and civilian spheres. From the paper: Men and women are treated unequally in regards to military service. Men are required to register for the Selective Service when they turn 18, while women are exempt. While women are allowed to perform most jobs in the military, they are still restricted from some combat roles. This gender inequality stems from antiquated notions of female weakness and domesticity, which have no legal validity in our society today. Furthermore, limiting womens roles in the military violates womens rights to be full and equal citizens of the United States, with all the privileges, obligations, and duties that carries with it. We will write a custom essay sample on Equal Rights, Equal Obligations, Equal Opportunities or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page

Comparative Advantage Concept and Benefits of Outcome Essay Example

Comparative Advantage: Concept and Benefits of Outcome Essay From Wikipedia, the free encyclopedia Jump to: navigation, search In economics, the law of comparative advantage refers to the ability of a party (an individual, a firm, or a country) to produce a particular good or service at a lower opportunity cost than another party. It is the ability to produce a product with the highest relative efficiency given all the other products that could be produced. 1][2] It can be contrasted with absolute advantage which refers to the ability of a party to produce a particular good at a lower absolute cost than another. Comparative advantage explains how trade can create value for both parties even when one can produce all goods with fewer resources than the other. The net benefits of such an outcome are called gains from trade. It is the main concept of the pure theory of international trade. Contents | |[hide] | |1 Origins of the theory | |2 Examples | |2. 1 Example 1 | |2. Example 2 | |2. 3 Example 3 | |3 Effect of trade costs | |4 Effects on the e conomy | |5 Considerations | |5. 1 Development economics | |5. Free mobility of capital in a globalized world | |6 See also | |7 Notes | |8 References | |9 External links | [pic][edit] Origins of the theory Comparative advantage was first described by Robert Torrens in 1815 in an essay on the Corn Laws. He concluded it was to Englands advantage to trade with Portugal in return for grain, even though it might be possible to produce that grain more cheaply in England than Portugal. However, the concept is usually attributed to David Ricardo who explained it in his 1817 book On the Principles of Political Economy and Taxation in an example involving England and Portugal. [3] In Portugal it is possible to produce both wine and cloth with less labor than it would take to produce the same quantities in England. However the relative costs of producing those two goods are different in the two countries. We will write a custom essay sample on Comparative Advantage: Concept and Benefits of Outcome specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Comparative Advantage: Concept and Benefits of Outcome specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Comparative Advantage: Concept and Benefits of Outcome specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In England it is very hard to produce wine, and only moderately difficult to produce cloth. In Portugal both are easy to produce. Therefore while it is cheaper to produce cloth in Portugal than England, it is cheaper still for Portugal to produce excess wine, and trade that for English cloth. Conversely England benefits from this trade because its cost for producing cloth has not changed but it can now get wine at a lower price, closer to the cost of cloth. The conclusion drawn is that each country can gain by specializing in the good where it has comparative advantage, and trading that good for the other. edit] Examples The following hypothetical examples explain the reasoning behind the theory. In Example 2 all assumptions are italicized for easy reference, and some are explained at the end of the example. [edit] Example 1 Two men live alone on an isolated island. To survive they must undertake a few basic economic activities like water carrying, fishing, cooking and shelter constr uction and maintenance. The first man is young, strong, and educated. He is also faster, better, and more productive at everything. He has an absolute advantage in all activities. The second man is old, weak, and uneducated. He has an absolute disadvantage in all economic activities. In some activities the difference between the two is great; in others it is small. Despite the fact that the younger man has absolute advantage in all activities, it is not in the interest of either of them to work in isolation since they both can benefit from specialization and exchange. If the two men divide the work according to comparative advantage then the young man will specialize in tasks at which he is most productive, while the older man will concentrate on tasks where his productivity is only a little less than that of the young man. Such an arrangement will increase total production for a given amount of labor supplied by both men and it will benefit both of them. [edit] Example 2 Suppose there are two countries of equal size, Northland and Southland, that both produce and consume two goods, food and clothes. The productive capacities and efficiencies of the countries are such that if both countries devoted all their resources to food production, output would be as follows: †¢ Northland: 100 tonnes †¢ Southland: 400 tonnes If all the resources of the countries were allocated to the production of clothes, output would be: †¢ Northland: 100 tonnes Southland: 200 tonnes Assuming each has constant opportunity costs of production between the two products and both economies have full employment at all times. All factors of production are mobile within the countries between clothes and food industries, but are immobile between the countries. The price mechanism must be working to provide perfect competit ion. Southland has an absolute advantage over Northland in the production of food and clothes. There seems to be no mutual benefit in trade between the economies, as Southland is more efficient at producing both products. The opportunity costs shows otherwise. Northlands opportunity cost of producing one tonne of food is one tonne of clothes and vice versa. Southlands opportunity cost of one tonne of food is 0. 5 tonne of clothes, and its opportunity cost of one tonne of clothes is 2 tonnes of food. Southland has a comparative advantage in food production, because of its lower opportunity cost of production with respect to Northland, while Northland has a comparative advantage in clothes production, because of its lower opportunity cost of production with respect to Southland. To show these different opportunity costs lead to mutual benefit if the countries specialize production and trade, consider the countries produce and consume only domestically. The volumes are: |Production and consumption before trade | |Country |Food |Clothes | |Northland |50 |50 | |Southland |200 |100 | |TOTAL |250 |150 | This example includes no formulation of the preferences of consumers in the two economies which would allow the determination of the international exchange rate of clothes and food. Given the production capabilities of each country, in order for trade to be worthwhile Northland requires a price of at least one tonne of food in exchange for one tonne of clothes; and Southland requires at least one tonne of clothes for two tonnes of food. The exchange price will be somewhere between the two. The remainder of the example works with an international trading price of one tonne of food for 2/3 tonne of clothes. If both specialize in the goods in which they have comparative advantage, their outputs will be: |Production after trade | |Country |Food |Clothes | |Northland |0 |100 | |Southland |300 |50 | |TOTAL |300 |150 | World production of food increased. clothes production remained the same. Using the exchange rate of one tonne of food for 2/3 tonne of clothes, Northland and Southland are able to trade to yield the following level of consumption: |Consumption after trade | |Country |Food |Clothes | Northland |75 |50 | |Southland |225 |100 | |World total |300 |150 | Northland traded 50 tonnes of clothes for 75 tonnes of food. Both benefited, and now consume at points outside their production possibility frontiers. Assumptions in Example 2: †¢ Two countries, two goods the theory is no different for larger numbers of countries and goods, but the principles are clearer and the argument easier to follow in this simpler case. †¢ Equal size economies again, this is a simplification to p roduce a clearer example. Full employment if one or other of the economies has less than full employment of factors of production, then this excess capacity must usually be used up before the comparative advantage reasoning can be applied. †¢ Constant opportunity costs a more realistic treatment of opportunity costs the reasoning is broadly the same, but specialization of production can only be taken to the point at which the opportunity costs in the two countries become equal. This does not invalidate the principles of comparative advantage, but it does limit the magnitude of the benefit. Perfect mobility of factors of production within countries this is necessary to allow production to be switched without cost. In real economies this cost will be incurred: capital will be tied up in plant (sewing machines are not sowing machines) and labour will need to be retrained and relocated. This is why it is sometimes argued that nascent industries should be protected from fully lib eralised international trade during the period in which a high cost of entry into the market (capital equipment, training) is being paid for. Immobility of factors of production between countries why are there different rates of productivity? The modern version of comparative advantage (developed in the early twentieth century by the Swedish economists Eli Heckscher and Bertil Ohlin) attributes these differences to differences in nations factor endowments. A nation will have comparative advantage in producing the good that uses intensively the factor it produces abundantly. For example: suppose the US has a relative abundance of capital and India has a relative abundance of labor. Suppose further that cars are capital intensive to produce, while cloth is labor intensive. Then the US will have a comparative advantage in making cars, and India will have a comparative advantage in making cloth. If there is international factor mobility this can change nations relative factor abundance. The principle of comparative advantage still applies, but who has the advantage in what can change. †¢ Negligible transport cost Cost is not a cause of concern when countries decided to trade. It is ignored and not factored in. Before specialization, half of each countrys available resources are used to produce each good. †¢ Perfect competition this is a standard assumption that allows perfectly efficient allocation of productive resources in an idealized free market. [edit] Example 3 The economist Paul Samuelson provided another well known example in his Economics. Suppose that in a particular city the best lawyer happens also to be the best secretary, that is he would be the most productive lawyer and he would also be the best secretary in town. However, if this lawyer focused on the task of being a lawyer and, instead of pursuing both occupations at once, employed a secretary, both the output of the lawyer and the secretary would increase, as it is more difficult to be a lawyer than a secretary. [citation needed] [edit] Effect of trade costs Trade costs, particularly transportation, reduce and may eliminate the benefits from trade, including comparative advantage. Paul Krugman gives the following example. [4] Using Ricardos classic example: |Unit labor costs | |Cloth |Wine | |Britain |100 |110 | |Portugal |90 |80 | In the absence of transportation costs, it is efficient for Britain to produce cloth, and Portugal to produce wine, as, assuming that these trade at equal price (1 unit of cloth for 1 unit of wine) Britain can then obtain wine at a cost of 100 labor units by producing cloth and trading, rather than 110 units by producing the wine itself, and Portugal can obtain cloth at a cost of 80 units by trade rather than 90 by production. However, in the presence of trade costs of 15 units of labor to import a good (alternatively a mix of export labor costs and import labor costs, such as 5 units to export and 10 units to import), it then costs Britain 115 units of labor to obtain wine by trade – 100 units for producing the cloth, 15 units for importing the wine, which is more expensive than producing the wine locally, and likewise for Portugal. Thus, if trade costs exceed the production advantage, it is not advantageous to trade. Krugman proceeds to argue more speculatively that changes in the cost of trade (particularly transportation) relative to the cost of production may be a factor in changes in global patterns of trade: if trade costs decrease, such as on the advent of steam-powered shipping, trade should be expected to increase, as more comparative advantages in production can be realized. Conversely, if trade costs increase, or if production costs decrease faster than trade costs (such as via electrification of factories), then trade should be expected to decrease, as trade costs become a more significant barrier. edit] Effects on the economy Conditions that maximize comparative advantage do not automatically resolve trade deficits. In fact, many real world examples where comparative advantage is attainable may require a trade deficit. For example, the amount of goods produced can be maximized, yet it may involve a net transfer of wealth from one country to the other, often because economic agents hav e widely different rates of saving. As the markets change over time, the ratio of goods produced by one country versus another variously changes while maintaining the benefits of comparative advantage. This can cause national currencies to accumulate into bank deposits in foreign countries where a separate currency is used. Macroeconomic monetary policy is often adapted to address the depletion of a nations currency from domestic hands by the issuance of more money, leading to a wide range of historical successes and failures. [edit] Considerations [edit] Development economics The theory of comparative advantage, and the corollary that nations should specialize, is criticized on pragmatic grounds within the import substitution industrialization theory of development economics, on empirical grounds by the Singer–Prebisch thesis which states that terms of trade between primary producers and manufactured goods deteriorate over time, and on theoretical grounds of infant industry and Keynesian economics. In older economic terms, comparative advantage has been opposed by mercantilism and economic nationalism. These argue instead that while a country may initially be comparatively disadvantaged in a given industry (such as Japanese cars in the 1950s), countries should shelter and invest in industries until they become globally competitive. Further, they argue that comparative advantage, as stated, is a static theory – it does not account for the possibility of advantage changing through investment or economic development, and thus does not provide guidance for long-term economic development. edit] Free mobility of capital in a globalized world Ricardo explicitly bases his argument on an assumed immobility of capital: if capital freely flowed towards those countries where it could be most profitably employed, there could be no difference in the rate of profit, and no other difference in the real or labour price of commodities, than the additional quantity of labour required to convey them to the various markets where they were to be sold. [5] He explains why, from his point of view , (anno 1817) this is a reasonable assumption: Experience, however, shows, that the fancied or real insecurity of capital, when not under the immediate control of its owner, together with the natural disinclination which every man has to quit the country of his birth and connexions, and entrust himself with all his habits fixed, to a strange government and new laws, checks the emigration of capital. [5] Some scholars, notably Herman Daly, an American ecological economist and rofessor at the School of Public Policy of the University of Maryland, have voiced concern over the applicability of Ricardos theory of comparative advantage in light of a perceived increase in the mobility of capital: International trade (governed by comparative advantage) becomes, with the introduction of free capital mobility, interregional trade (governed by Absolute advantage). [6] Adam Smith developed the principle of absolute advantage. The economist Paul Craig Roberts notes that the comparative advantage principles developed by David Ricardo do not hold where the factors of production are internationally mobile. [7][8] Limitations to the theory may exist if there is a single kind of utility. Yet the human need for food and shelter already indicates that multiple utilities are present in human desire. The moment the model expands from one good to multiple goods, the absolute may turn to a comparative advantage. The opportunity cost of a forgone tax base may outweigh perceived gains, especially where the presence of artificial currency pegs and manipulations distort trade. [9] Global labor arbitrage, where one country exploits the cheap labor of another, would be a case of absolute advantage that is not mutually beneficial. [10][11][12] Economist Ha-Joon Chang criticized the comparative advantage principle, contending that it may have helped developed countries maintain relatively advanced technology and industry compared to developing countries. In his book Kicking Away the Ladder, Chang argued that all major developed countries, including the United States and United Kingdom, used interventionist, protectionist economic policies in order to get rich and then tried to forbid other countries from doing the same. For example, according to the comparative advantage principle, developing countries with a comparative advantage in agriculture should continue to specialize in agriculture and import high-technology widgits from developed countries with a comparative advantage in high technology. In the long run, developing countries would lag behind developed countries, and polarization of wealth would set in. Chang asserts that premature free trade has been one of the fundamental obstacles to the alleviation of poverty in the developing world. Recently, Asian countries such as South Korea, Japan and China have utilized protectionist economic policies in their economic development. [13] [edit] See also

Free Essays on Enlace Químico

Enlace quà ­mico, fuerza entre los tomos que los mantiene unidos en las molà ©culas. Cuando dos o ms tomos se acercan lo suficiente, puede producirse una fuerza de atraccià ³n entre los electrones de los tomos individuales y el nà ºcleo de otro u otros tomos. Si esta fuerza es lo suficientemente grande para mantener unidos los tomos, se dice que se ha formado un enlace quà ­mico. Todos los enlaces quà ­micos resultan de la atraccià ³n simultnea de uno o ms electrones por ms de un nà ºcleo. Tipos de Enlace Si los tomos enlazados son elementos metlicos, el enlace se llama metlico. Los electrones son compartidos por los tomos, pero pueden moverse a travà ©s del sà ³lido proporcionando conductividad tà ©rmica y elà ©ctrica, brillo, maleabilidad y ductilidad. Và ©ase Metales. Si los tomos enlazados son no metales e idà ©nticos (como en N2 o en O2), los electrones son compartidos por igual por los dos tomos, y el enlace se llama covalente apolar. Si los tomos son no metales pero distintos (como en el à ³xido nà ­trico, NO), los electrones son compartidos en forma desigual y el enlace se llama covalente polar - polar porque la molà ©cula tiene un polo elà ©ctrico positivo y otro negativo, y covalente porque los tomos comparten los electrones, aunque sea en forma desigual. Estas sustancias no conducen la electricidad, ni tienen brillo, ductilidad o maleabilidad. Cuando una molà ©cula de una sustancia contiene tomos de metales y no metales, los electrones son atraà ­dos con ms fuerza por los no metales, que se transforman en iones con carga negativa; los metales, a su vez, se convierten en iones con carga positiva. Entonces, los iones de diferente signo se atraen electrostticamente, formando enlaces ià ³nicos. Las sustancias ià ³nicas conducen la electricidad cuando estn en estado là ­quido o en disoluciones acuosas, pero no en estado cristalino, porque los iones individuales son demasiado grandes para move... Free Essays on Enlace Quà ­mico Free Essays on Enlace Quà ­mico Enlace quà ­mico, fuerza entre los tomos que los mantiene unidos en las molà ©culas. Cuando dos o ms tomos se acercan lo suficiente, puede producirse una fuerza de atraccià ³n entre los electrones de los tomos individuales y el nà ºcleo de otro u otros tomos. Si esta fuerza es lo suficientemente grande para mantener unidos los tomos, se dice que se ha formado un enlace quà ­mico. Todos los enlaces quà ­micos resultan de la atraccià ³n simultnea de uno o ms electrones por ms de un nà ºcleo. Tipos de Enlace Si los tomos enlazados son elementos metlicos, el enlace se llama metlico. Los electrones son compartidos por los tomos, pero pueden moverse a travà ©s del sà ³lido proporcionando conductividad tà ©rmica y elà ©ctrica, brillo, maleabilidad y ductilidad. Và ©ase Metales. Si los tomos enlazados son no metales e idà ©nticos (como en N2 o en O2), los electrones son compartidos por igual por los dos tomos, y el enlace se llama covalente apolar. Si los tomos son no metales pero distintos (como en el à ³xido nà ­trico, NO), los electrones son compartidos en forma desigual y el enlace se llama covalente polar - polar porque la molà ©cula tiene un polo elà ©ctrico positivo y otro negativo, y covalente porque los tomos comparten los electrones, aunque sea en forma desigual. Estas sustancias no conducen la electricidad, ni tienen brillo, ductilidad o maleabilidad. Cuando una molà ©cula de una sustancia contiene tomos de metales y no metales, los electrones son atraà ­dos con ms fuerza por los no metales, que se transforman en iones con carga negativa; los metales, a su vez, se convierten en iones con carga positiva. Entonces, los iones de diferente signo se atraen electrostticamente, formando enlaces ià ³nicos. Las sustancias ià ³nicas conducen la electricidad cuando estn en estado là ­quido o en disoluciones acuosas, pero no en estado cristalino, porque los iones individuales son demasiado grandes para move...

Career Counseling in the workplace Essay Example | Topics and Well Written Essays - 250 words

Career Counseling in the workplace - Essay Example Narrative Bob’s recent new job as an administrative assistant at an outpatient treatment center though, constantly distracted by counselors throughout the day with issues involving billing is extremely busy and sometimes frustrating. When trying to do work, Bob enjoys what he does. However, there was a lack of communication getting problems resolved, such as not updating billing information for clients when they checked in for their appointments, which should be done before the patients arrive. The company (nonprofit organization) consists of a small number of employees; Bob, two other females who work in the front office (administration) and eight counselors who gossip and talk about one another all day and ask for or demand things that are unnecessary and can be obtain from their offices on their own computers. This becomes very distracting, especially when Bob is trying to check patients in and answering the phones all at once. Bob, never excited about his recent job or wha t it consisted of, was never really motivated to make any improvements.

IMAX Case Study Example | Topics and Well Written Essays - 2500 words

IMAX - Case Study Example IMAX originated in the market since 1967, was popular among all the business organizations. IMAX was the first company in the world getting involved in producing all characteristics of large format films (MPAA, 2009 Case Facts In 1994 Wechsler and Gelfond had purchased the long established business of IMAX Corporation from its traditional owners. The company was purchased for 80 million by the new owners. However, observing the growing competition in the market of movie theaters, the new owners launched the shares for the company to the public in 1994, in order to raise more capital for further business growth of IMAX. The investors who invested in the company started to face high volatility in their profits due to uneven business conditions of IMAX. At this juncture it became a primary matter of problem for all the investors and analysts to forecast sure economic surplus for the company in future in the presence of such growing uncertainties. At the time of the purchase the stock va luation of IMAX in NASDAQ was $196 million while in December 2008 its worth came down to $125 million. Despite of the large number of IMAX theaters in more than 40 countries in the world, the business of the company is decrementing over time (Chakravarty, 2002). Internal and External Constraints The commerce of IMAX is facing several internal and external limitations that have made the analysts worry about the long term success of its business. Internal Constraints The theaters of IMAX may lose its popularity and brand worth because its strategic managers only concentrate in non educational entertainment Hollywood movies. Further, the CEO’s of the company are in a dilemma to sell IMAX to some large media partners like Sony, Time Warner or Disney. The officials are also in a dilemma to release the Hollywood movies in both regular and large formats in IMAX. It is also a matter of internal constraint for the firm managers to analyze the requirement for further rise in Hollywood movie releases in IMAX theaters (Olijnyk, 2002). External Constraints Figure 2: Growing Substitutes of Movies (Source: IVEY, 2009) The number of movie viewers is higher than any other entertainments, as the ticket prices for movies are comparatively low. But it should be analyzed that the growing numbers of substitutes in the market of entertainment have lowered the aggregate movie viewers. Figure 3: Rising number of DVD Consumption in U.S. (Source: IVEY, 2009) The above schedule shows that the total DVD use in U.S. increasing with time, greater use of DVD has lowered visitors in movie theaters. Figure 4: Increasing Movie Ticket Prices (Source: IVEY, 2009) The falling Gross Domestic Product and increasing prices of movie tickets have lowered the total number of theater audiences, although the theater owners virtually find their revenues increasing. Statement of Criteria (Objectives) The objectives of business that IMAX should exhibit for its economic prosperity in future are: To bec ome a niche player in the competitive market of movie theaters. To diversify its operations. To augment the brand loyalty and tap more potential clients. Situation Analysis The context of situation analysis will help the readers