Market failure
) Explain how climate change may be seen as an example of market failure? 2) Describe possible ways of limiting the impact of market failure on public goods. Climate change refers to a long-term global environmental alteration within natural resources, such as, weather patterns and greenhouse effects, influenced by our economic system. By characterising market economy , I intend to establish its impact on the environment and discuss the ways in which changing climate affects economic activity, resulting in market failure. In the second part, I will examine the ways in which action can be taken to limit the impact of economic activity within market economies on public goods. Market economy refers to economic growth in which resources allocated through exchange in markets consist of buyers and sellers known as economic agents, such as firms, charities, and individuals, which have the right to use and dispose of their property as they like. They trade goods and services by demand, which determines prices and wages influenced by competitive market forces (Hinchliffe and Woodward, p. 82,83). Consequently, in order to survive, economic agents tend to make decisions of resource usage based on private costs and benefits to themselves, overlooking the critical affects of social costs followed by their actions, known as externalities. For example, when two businesses sell the
Child Development essay
Child development can be defined as the psychological and biological changes that happen in children between birth and the end of adolescence (Minett 2001). Every child goes through a developmental process. Every child is unique and develops differently from all others. With the exception of identical twins, we all inherit our own particular genetic structure from our parents (Empson et al 2004); this forms the basis that there are biological roots for behaviour and development. There are three main factors that affect the way a child grows and develops; their inherited genes, their environment, and their health (Minett 2001). The nature nurture debate concerns the influences of the environment a person is brought up in and those of genetics (Hard, Heyes 1987), most writers now agree that a combination of both factors make a person who they are. A child's environment at home can effect their development. For example; where the child lives, who the child lives with, if the child is loved and wanted, the friends a child has, and whether a child is encouraged to learn (Minett 2001). How a child is raised by their family can influence how a child develops. Family's beliefs and morals will create certain opportunities for a child but may remove or restrict others. However, which of these factors can shape the development of children in their first ten years, and how severe or long
Bottom Billion. Currently, most of the bottom billion people live in African countries. The major problem with these countries is not that they are poor, but that they are not developing.
Miguel Mantica Technology and Culture October 28, 2011 Professor Griffith The Bottom Billion The development of the poor countries has been a challenge during the past decades. The world consists of one billion rich people and five billion poor people. Most of five billion live in countries that are developing. However, there are one billion people that live in countries that are falling behind and even apart. These countries are facing a bigger problem that one can imagine. The world is becoming globalized. Countries are reducing import quotas and export fees facilitating trade with each other. Also, countries are starting to provide resources, materials and technology to each other allowing them to develop at amazing speed. On the other hand, the bottom billion countries are diverging from this economy, since they are stuck in one of the four traps. The four traps are the conflict trap, the natural resource trap, the trap of being landlocked and the trap of bad governance in a small country. These traps will not allow billion bottom countries to become globalized; however, it can be argued that some of these traps can facilitate the incorporation of a country to world's economy. Currently, most of the bottom billion people live in African countries. The major problem with these countries is not that they are poor, but that they are not developing. In fact,
Neighbourhood Renewal/ Regeneration
Select a Neighbourhood renewal/regeneration initiative in Hull and demonstrate how this fits with both national and local policy and identify key concepts and principles underpinning your selected initiative. Show how you would evaluate the success of this initiative in terms of neighbourhood renewal/regeneration. I feel it is important to start this essay by defining the term Neighbourhood renewal/regeneration and by identifying the purpose of neighbourhood renewal initiatives in Britain today. This essay will focus on the key concepts and principles of an initiative in the Hull area and will demonstrate how the initiative fits in with national and local policy. The aims, objectives and desired outcomes of the selected initiative will be taken into account when evaluating the successfulness of the initiative in terms of neighbourhood renewal/regeneration. The term 'neighbourhood renewal/regeneration' relates to a range of programmes established to identify local needs and pilot new ways to tackle poverty and deprivation in the most effected areas of the United Kingdom. Local area based initiatives have been a common approach to tackling the problems of deprived neighbourhoods in Britain since the 1960's. The majority of programmes were short term and focussed on single issues until the late 1980's when an integrated approach was attempted (Imrie and Raco, 2003). By the
Discuss the policies of theODA/DfID in relation to gender theory . (short title)
Discuss the policies of theODA/DfID in relation to gender theory . (short title) "Women are not only half the present human race but the principal nurturers of all the coming generations. Poverty, even among men, cannot be eradicated without eliminating the specific oppressions that women suffer." ( P. Harrison, (1987) Ref.i ) Biological differences between men and women do not change but the social roles that they are required to play vary between different societies and cultures and at different periods in history. The 'gender issue' is the term used to describe this social differentiation. In the case of Third World development, the gender issue is generally taken as meaning the role of women in development as women remain disadvantaged throughout the world, especially in developing countries. Their status in society is usually lower than men's and they are the main beasts of burden, in short, they are the poorest of the poor. The needs of women in the Third World has been recognized in development agencies and given special attention for many years via social, economic, legal and political means. There is no single development model or theory that combats the problems faced by women in the Third World, different organizations and agencies tackle different issues in different countries. However, they all share the same aim - to improve women's quality of life and
The Difficulties in Comparing the Standard of living between countries.
The Difficulties in Comparing the Standard of living between countries The standard of living is a complex subject that has been debated over the past couple of centuries. What do we mean by a "standard of living"? Probably no two people would describe this term in exactly the same way. A useful way to begin to understand the issues is to imagine that you had to live in another country. Suppose you would be born again at random to parents of a country, which you could choose according to only a couple of characteristics? What characteristics would you want to know before making a choice? Most people would like information on the material standard of living, say a nice car, a pleasant place to live, clothes, furniture, appliances, food, vacations, maybe even education. Other choices are political and religious freedom; opportunities for social and economic mobility; the degree of social and economic inequality; and climate. In my point of view, I believe that the standard of living is a level of material comfort in terms of goods and services available to someone. The countries' standard of living comparison data provides the essential information for each country's government and identifies progress of each country. Nevertheless, there are many difficulties in trying to compare the living standard between countries. I would like to cover three significant difficulties in
Immigration (Singapore)
Immigration often implies the adaptation processes of both the immigrant and the host community. Singapore has a history of immigration. Prior to independence in 1965, Singapore has had consistent inflows of immigrant settlers and she continues to receive immigrants through the years. Many have decided to set up home permanently only after having study and work in Singapore for a while. Singapore recognise that for one to settle down in a new country is a major and emotional decision and would need considerable supports and encouragement from the host government and society for immigrants to sink roots there. Singapore can work on her state integration policies to ease the anxiety and problem faced by the immigrants. Singapore's state integration policies may be explained using the four ideology clusters; Pluralism, Civic, Assimilation and Ethnist Ideologies (Breton et al, 1988). It is heartening to the immigrants that Singapore is largely a plural society regardless of race, language or religion as embodied in her National Pledge. This allows the immigrant the freedom of linguistic and cultural activities, religious expression, and political association within the confines of Singapore's criminal and civil laws. Singapore is a multi-racial society. Different races live in harmony with each other. It is quite an amazing spectacle for immigrants to see the public display of
What conclusions for the role of population in economic development can we draw from the British industrialisation experience?
Laila Mukhey 27th October 2003 What conclusions for the role of population in economic development can we draw from the British industrialisation experience? Research into British population history highlights the steadily increasing rates of growth corresponding to the years of industrialisation in Britain: between 1730 and 1780 annual growth rates gradually moved up from 0.46% to 0.66%, then right through from 1781 to 1911 population in Britain increased by over 10% per decade, at its peak between 1811 and 1821 the rate of growth in Great Britain was 17% per decade. The important and controversial thing, however, is to find how and why numbers rose, to examine the mechanisms of growth in order to illuminate how this demographic revolution was associated with economic growth. In what ways was it a cause of growth; in what ways was it a consequence of industrialisation? Inevitably, the analysis of the causes and the mechanisms of population growth have a very strong bearing upon the analysis of the relationship between population change and economic growth. The immense enquiry led by Professor Wrigley and Dr Schofield has revealed that the increase in Great Britain was mainly caused by natural rates of growth, not by immigration; further to this, it has revealed that the impact of rising fertility was far greater than that of declining mortality in explaining the rise in
Explore the emergence of environmental debates in development theory over the last fifty years.
Richard Thomas Explore the emergence of environmental debates in development theory over the last fifty years. This essay looks at the background leading up to, and reasons for, the emergence of environmental debates in development theory over the last fifty years. It will illustrate the issues and discourses present in environmental debates, the actors and debators, and with reference to examples from both 'developed' and 'developing' countries, show how environmentalism challenges modern development theory. We start by looking at how environmental concerns, despite their historical presence in ancient philosophies and civilizations (Redclift, 1987), were marginalised through the creation and evolution of the post-war 'development project'. The end of the Second World War in 1945 marked the beginnings of major changes in the theory of development on a worldwide scale. The system of formal colonialism, which accounted for 84.6% of the world's land surface in the 1930s (Jones, 2001), broke down. The US was, by the end of the War, a major world power, holding 60% of the global industrial capacity and looking to secure access to a global market. Europe, Japan and Russia in particular had experienced large-scale destruction and needed to rebuild and strengthen their economies. The ideology of economic development through industrialisation (Keynes' system of global economic
This essaywill discuss orthodox models of development and theRadical Dependency Theory. It will outline the main critiques of theModernisation and Radical Dependency Theories, together with the responses tosuch criticisms.
This essay will discuss orthodox models of development and the Radical Dependency Theory. It will outline the main critiques of the Modernisation and Radical Dependency Theories, together with the responses to such criticisms. Orthodox models of development have long equated economic growth with 'development'. The Gross National Product of a country was continually used to equate their economical stance to their level of 'development'. Between the two World wars, models began to emerge which favoured this equation, more widely known as the 'Modernisation Theory'. Rostow (1960, 1978) proposed five linear stages of economic growth, the first stage being 'underdevelopment' with a progression through to 'development'. This model implied that societies moved 'forward' or progressed from 'traditional' to 'modern' and was the basis of the 'Modernisation theory'. This approach to human progress has been critiqued consistently throughout its history, with the main criticisms being that the approach is ethnocentric, one-dimensional and centralised. Ethnocentrism is a form of prejudice or stereo-typing that assumes the superiority of one's own culture or ethnic group. Modernisation as interpreted by Rostow was created under 'Western' ideas of material progress with industrialisation and urbanisation being integral components of 'modern' economic activities (Lewis, 1955).