The Relationship between Regulation and Market Structures and How Regulation Affects the Market

The Relationship between Regulation and Market Structures and How Regulation Affects the Market With a long history of bilateral and multilateral trade, policies and trade liberalization, negotiations of creating independent market environments have been a major issue of discussion in the recent past.Advertising We will write a custom essay sample on The Relationship between Regulation and Market Structures and How Regulation Affects the Market specifically for you for only $16.05 $11/page Learn More Free market entails allowing markets rule themselves by allowing the free flow of goods and services, but in the past the government has had to regulate the market either by introducing trade tariffs, which seek to protect the internal industries or other tools which seek to set the market in order to guide the economy in an acceptable manner. Economic or industrial regulation can be described as the interference of the market by the government. Government’s aim of interfering with the market is to influence the behaviors of firms or even individual s in the private sector engaging in the provision of goods and services. These regulations are aimed at protecting the public from exploitation. Several tools exist through which the market regulation takes place and they include: price controls, taxes, interests and quotas thus regulations are used to improve the efficiency to which the society is allocated resources and alter income distribution in order to achieve certain goals. Industrial regulation affects oligopolies in such a way that for example with an oligopolist mutually aware his action will trigger reactions from others, tend to have stronger incentives to substitute anti competitive with cooperation for vigorous competition thus what may follow is a coordinated interaction. This causes the intervention by the government to regulate chances of cartel formations and thus the operations of oligopolies are interfered with as they cannot raise the prices as they would wish. The government allows them only to raise prices to levels which are socially acceptable. Another market structure affected is the operation of a monopoly. This is due to the fact that industrial regulation controls the market power by allowing free competition, market stabilization, and expansion of investments. This in return introduces more market players, several buyers and several sellers and operation of monopolies becomes curtailed.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Social regulation is the imposition and enactment of laws and policies, which seek to protect the society from harmful or hazardous corporate or individual behavior. It is simply concerned with the protection of the society against over exploitation, for example: production methods, the product attribute such as its quality, information disclosure for instance on the usage and includes the government rule on environmental protection, healthy, and f airness among the market players. It promotes what is deemed or has been assessed and declared as socially desirable. Social regulation affects both the private and public entities. The government ensures that what the private sector provides in the market is suitable for the public both in terms of quality and quantity. Thus social regulation protects the consumers, workers and environment from deceptive acts of the private sector. By introducing commissions such as the Environment Policy Act, the government ensures that the activities of the private sector do not threaten or overlook the safety regulations of the public as a whole. Through this, the public sector is not cheated, duped or exploited by the private sector. Social regulation differs from industrial regulation in that it is usually applied across the board too many or all industries and usually affects many people since it involves the government regulating all the details of production thus everybody involved in the p roduction process has to comply. The private sector argues that social regulation is not economical as most of the times marginal costs exceeds marginal benefits leading to over regulation. This causes most of the private entities to change their production processes for example by adopting new technologies that support the required guidelines thus causing disposal of assets before their period. A natural monopoly is a firm producing a single homogenous product which other industry would like to produce but cannot due to cases of government protection or the capital required for such venture is not affordable or even the importance of the product to the society thus it might be deemed unsafe allowing everybody to provide the service.Advertising We will write a custom essay sample on The Relationship between Regulation and Market Structures and How Regulation Affects the Market specifically for you for only $16.05 $11/page Learn More Natural monopolies are u sually established as a result of government special interests as they enhance efficiency by encouraging innovations. Costs of production, which make one producer more efficient than the other, can also force the establishment of a natural monopoly due to the expected high returns of scale. As a matter of fact, high market concentration does not always guarantee the absence of competition; sometimes it can reflect the success of a firm. In the production theory, sometimes monopolies can be favored by their better chances of exploiting the economy of scales reaching market equilibrium faster by producing more goods or services at a relatively low cost than it would be in a competitive market. Since these firms make profits at an abnormal rate, this may lead to adoption of advance technologies in the long run which can aid at producing quality products for consumers at a reduced price. Monopolies often exist in provision of basic services, for example, in the water industry where exis tence of several firms would result in multiplication of water pipes which would be costly to both the public and the private sector and thus most of the times the government gives natural monopolies to certain government affiliated companies to provide the services (Joskow, 2005). Premised on the fact that free trade benefits the economy, the antitrust laws of the USA seeks to prevent the anti competitive business behaviors which could be displayed by some of the major firms. The Sherman Anti-Trust Act of 1890 was the first antitrust law, which has since then undergone amendments with the most well known being the â€Å"Clayton Act of 1914 and the Robinson-Patman Act of 1936.Congress also created a regulatory agency to administrate and enforce the law, under the Federal Trade Commission Act of 1914† ( Hartman, 1997: Par 3) The four major pieces that the antitrust laws seeks to control areAdvertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More â€Å"Agreements between competitors, contractual arrangements between sellers and buyers, the pursuit or maintenance of monopoly power, and mergers†, (Hartman, 1997: Par 2) Agreements between competitors is checked under the Sherman Act of 1890, which seeks to prohibit every contract or conspiracy between two or more companies which seek to monopolize market for any product. The act authorized the Federal Government to dissolve trusts and established penalties for the persons convicted for establishing such combinations. The Clayton act which also falls under the antitrust laws seeks to address specific practices where the effect may interfere with free and perfect competition. This act covers practices such as creation of mergers and acquisitions which may lead to a creation of a monopoly. The act prohibits exclusive sales contracts, local price cutting to freeze other market players. The only secluded sectors are the labor unions and agricultural cooperatives from these co mbinations that restraint trade. Robinson- Patman Act is another antitrust legislation which seeks to deal with discriminatory prices in the market charged to competitors. The purpose of this act is to protect small businesses by controlling the ability of large firms to engage in large discriminatory discounts due to their huge purchasing power. This law specifically bans the charging of different prices to different buyers. The act seeks to help the small buyers who might be disadvantaged when it comes to competition with the larger firms. The Federal Trade commission Act is the last piece of antitrust law and this act seeks to disallow the use of unfair and deceptive practices under this act, behavior which might not be illegal under the other said acts may however be unlawful under the FTC act. The Federal Trade Commission simply enhances consumer confidence by enforcing the federal laws which seek to protect consumers. It also ensures that consumers are well equipped with free information which can help them in exercising their rights and spots to avoid deception. The US Federal Energy Regulatory Commission which is served with the function of ensuring compliance in line with the laws, regulations and any existing tariffs that exist in USA. The next commission is the Postal Regulatory Commission which advises the government on the legislations that need to be enacted with matters concerning market products and the expected consumer price index cap. Another commission is the Federal Communications Commission which has the jurisdiction over radio, telephone communication and television the commission is served with the function of regulating the monopolistic nature of firms search as the American Telephone and Telegraph Company. The other commission, Securities and Exchange Commission interprets federal security laws, issues new rules and amends the existing ones while also overseeing the inspection of securities firms, brokers and investment advisers among others and finally the US Federal Nuclear Commission whose main function is to protect the people of USA from nuclear compounds by ensuring the safety of nuclear production and other civilian uses of nuclear substances. With the increased attention towards civil rights, environmental concerns and consumer issues, there has been establishment of regulatory agencies which are: The Equal employment Opportunity Commission which is served with administering of civil rights, the commission coordinates the federal efforts at affirmative action for the employment of minority races and women. It enforces law against discrimination and investigates discrimination complaints against race, gender, age and religion. The second regulatory commission is the Environment Protection Agency which is charged with the responsibility of ensuring that industries adhere to the set rules which ensure that there is limited water and air pollution and also the disposition of hazardous wastes by companies is checked by this commission. It does this through by writing and enforcing rules as directed by the congress. The Occupation Safety and Healthy Review Commission is another regulatory commission charged with the role of developing regulations at work place. It is supposed to conduct inspections at work place and ensure that the working standards under which workers are exposed to are conducive. It ensures employees work under environment free of toxic compounds. The Consumer Product Safety Commission ensures that safety standards on potentially lethal and dangerous items such as hand tools and lawn mowers, flammable products, children toys are enforced by the industry players involved any unreasonable injury which may result from using such items is checked by this commission. Finally we have the Federal Election Commission which is an independent regulatory conducted in the US. The commission regulates election financing since its main function is to disclose the source of money use d during election campaigns. They do this through enforcing the provisions of the law such as the limits and oversee the funding of presidential elections Reference List Hartman, S. (1997). Antitrust Laws: Wests Legal Directory Law Information Center. Web. Joskow, P. L. (2005). Regulation of Natural Monopolies: Centre for Energy and Environmental Policy Research. Retrieved from http://ceepr.mit.edu/

How to Answer “Where Do You See Yourself in 5 Years”

How to Answer â€Å"Where Do You See Yourself in 5 Years† When you’re sitting in an interview, there’s a good chance that most of your mental real estate lately has been going toward this day. So when the interviewer asks you where you see yourself in five years, it can be a bit of a jolt to suddenly think about the long term. Knowing the reasoning behind it and doing some prep ahead of time, you can be ready to handle this one like a pro on interview day. 1. DO understand why you’re being asked.Five years is a long time away from now. We’ll have a different president, and maybe hoverboards will finally be a reality. (A gal can hope, right?) The interviewer isn’t asking you to predict fashion trends or whatever social media scene will replace Instagramming your food. Rather, he or she is trying to do two things: 1) gauge your commitment to this job; and/or 2) see what kind of ambitions you hold dear to your heart. So while thinking about society’s future might be fun, focus your thoughts on your pro fessional development.2. DON’T exaggerate, even to yourself.â€Å"Running this place† is not an answer that will get you in the door. Think about where you realistically see yourself. Are you mid-management now, and see yourself higher up that ladder? Are you just starting out, but you’d like to be managing others in five years? Those are realistic goals. Assuming you’ll be the next CEO is, well, not. (Unless you’re interviewing right now to be the CEO, in which case this is a totally valid response.) Well before interview day, think about what you want out of this job, and what it would mean for your future.3. DO emphasize the experience angle over the job title.In my experience, job titles are too much of a moving target, even within a company. Positions are created, changed, and reimagined all the time. Rather than strain to figure out what your business cards will say, talk about what you hope to have achieved in the meantime. â€Å"I see myse lf as having deep expertise in this field, and this position is the way to do that.† Or â€Å"I would like to be taking the lead on projects, and become a great manager like the ones I’ve had along the way.†4. DON’T be brutally candid.If you’re interviewing for a receptionist position with a financial company when you’re really hoping to become an assistant at a music company, this is not the time to come clean and advertise that fact. The interviewer is spending a lot of time and energy on this hiring process, and him or her knowing that you’re only doing this as a Plan B is not going to get you any bonus points. So while you should never lie to answer this question, and say that all you’ve ever wanted is to be answering phones at BankCorp in five years, you can talk around that. Emphasize the skills you’d like to gain in this position, and talk about how you’re looking forward to growing roots and developing as a professional.5. DO emphasize your commitment for the long haul.Again, the interviewer is looking to confirm that you’re not a flight risk or someone who will give half-hearted effort to this job. While you talk about your goals for the next five years, make sure you emphasize how this position and this company will help you achieve that- and perhaps more importantly, emphasize what you bring that will help the company move forward in that time as well.You don’t need a crystal ball to answer this question- just some forward-looking talking points that show you’re the right person for this company, for the right reasons.

Why Do We Glamorize Murder in the Media Essay Example | Topics and Well Written Essays - 1250 words

Why Do We Glamorize Murder in the Media - Essay Example Public surveys reveal that 95% of general population refer mass media as a primary source of their information about any crime.2 It implies that media and other people construct reality in a way or the other. Here, the question arises about the content media is disseminating about crime. Media is certainly not portraying the fact alone, but a combination of facts and fiction. It sensationalizes, dramatizes, and glamorizes what must be condemned and demeaned. This paper tries to explore people's fascination and media's glamorization of murder. Oscar Wild has identified American fascination with murder in 1982 when he said, "Americans certainly are great hero-worshipers, and always take their heroes from the criminal classes."3 Murder has become culturally accepted within today’s society. Phrases like â€Å"it’s a dog eat dog world†, â€Å"killing two birds with one stone† or simply â€Å"I could kill him† (when annoyed at a partner) are entwined into our everyday language. Though the meanings are not... Even television programs show murder as indifferent. The hero of the story can kill the bad guy, or commit murder and then do a heroic thing and the original wrong doing can be forgotten by all. In the Old Testament, Moses murdered an Egyptian slave-master, then supposedly went on to do many great things and became a corner stone for Islamic, Jewish and Christianity religions. How do we rationalize killing someone? Over 87% of a core group of surveyors said â€Å"justification† is the difference between killing and murder. We are happy to live our own lives excepting that people die at the hands of other as long as it is justified. In the face of brutal and hideous crimes society try to characterized the reasoning of such criminals. Often when no apparent conclusion can be established, the association with madness is almost immediate. It is a natural defence mechanism within our conscience that one wants to believe that t he criminal had to be crazy otherwise the crime would never have been committed. People try to comprehend and explain something that if it were not justified by the madness would be too disturbing to think that a "rational" human being could execute such brutal and hideous crimes. Murders are considered bad or good based on the justification provided. Regardless of the horrors associated, murder remains coloured by perpetrator's subjectiveness in devising strong judgement to entitle his or her behaviour as radical. It is evident that media understand these judgements; therefore, they treat murder as an intense experience needing dramatization. Popular media sources engineer their presentations in a certain way that implies murder as an instant, convenient, and absolute solution to problem.4 Typically, we don't care much about murder, but what makes it really significant is: when the victim is well-known; the number of victims is shocking; murderer is exceptionally wealthy or attract ive; or method of murder is horrifying and beyond our imaginations. The very moment such incident takes place people take notice and follow each step closely. The process starts with the reporting and revelation of crime details, more shocking the details more interest is piqued. With the revelation of crime evidence, we try to know from every media source possible. Media prolongs the coverage to arrest, trial, verdict, civil trials, and every bit of information behind crime. Even after the murderer's conviction and sentence, the story does not end, it takes several forms and major actors of the crime are casted in widely different stereotypical roles. As time passes, these shocking stories of crime are represented in the form of books, comics, fictional programs,

Miscarriages of Justice Essay Example | Topics and Well Written Essays - 1000 words

Miscarriages of Justice - Essay Example This happens because of inefficient procedures . Second, the laws that are applied to them. Third, for there is no information that justifies the applied treatment or punishment. Fourth, if suspects, defendants or convicts are handled unfavorably by the state to an unequal extent compared with the necessity to protect the rights of others; or, fifth, if the rights of other persons are not effectively or equally protected or defended by State action against law violators or, sixth, by State law itself(Greer, 1986). For, the six groups above revolve around themes of breach of rights of suspects and defendants, the disproportionate treatment of suspects/defendants or the non-vindication of the rights of victims, might be termed direct miscarriages. In addition, it may be possible to derive from their infliction a seventh, indirect miscarriage which affects the community as a whole. A belief coming out of deceit or illegalities will corrode the state's claims to legitimacy. For, this is founded on the community criminal justice system's values which includes as respect for individual rights. In this way, as well as the unwanted faith of the individual, the "moral integrity of the criminal process" suffers harm(McConville, 1994). Also, there could be a common detriment by way of diminished confidence in the vanguards of law and order leading to lesser active citizens aiding the police and a decrease in the number of jurors willing to convict even the glaringly "guilty".Definitely, it has been deba ted that this indirect form of miscarriage can exist independently as well as contingently in two respects. One is that a breach of "the principle of judicial legitimacy" should be of concern even if there is an accurate and fair determination of guilt or innocence. Secondly, it still produces great moral harm even if, so far as the individual is concerned, there is an error but no real harm is inflicted (say, when a person imprisoned for life is wrongfully convicted soon afterwards of a minor motoring offence). It is therefore argued that the State itself should avoid actions or processes which might damage the integrity of the system. Consistent with this concern, lawyers, whether acting for prosecution or defence, are reminded that they are not the ciphers of their clients but owe duties of integrity to the criminal justice system(Poole, 1998). Critical examination why gender related crime is important to understanding relevant policies of the criminal justice policyIn the article stated that the gender equality duty and the criminal justice system April 2007: The Gender Equality Duty comes in to force, the gender equality duty has been the biggest radical metamorphosis to sex to sex discrimination law for the past thirty years. It is also similar to the introduction in 2001 of a similar public sector race equality duty after the Stephen Lawrence Inquiry and the introduction of a disability equality duty in December 2006. Furthermore, Fawcett publications of the Fawcett Society had published two reports to support the implementation of the Gender Equality Duty in the criminal justice system: The responsibility to understanding the "understand your duty" section details how the law should affect the criminal just

Colonial America Essay -- essays research papers

Religious Freedom in colonial America   Ã‚  Ã‚  Ã‚  Ã‚  Religion was a very important part of everyday life in colonial America. Sometimes people were not allowed to question what they were taught, and if they did so they were punished accordingly. Before 1700 some colonies had more religious freedom then others. While others colonies only allowed religious freedom to a select group, others allowed religious freedom to all different kinds of religions. In the overall there was quite a bit of religious freedom in colonial America   Ã‚  Ã‚  Ã‚  Ã‚  First there is the colony or Rhode Island, which was started by a man, named Roger Williams in (1636). It did not become an official colony until (1644) when it then received a charter from Parliament. Williams welcomed every one; he guaranteed religious freedom to everyone even the Catholics and the Jews. Williams also granted religious freedom to the Quakers, even though his own views were very different from those of the Quakers. This was truly the most democratic of all of the colonies. Williams did not demand mandatory attendance at services, or oaths regarding religious beliefs. Rhode Island was truly the first example of religious tolerance and freedom of opportunity. Second there is the colony or Pennsylvania (1681). Pennsylvania was founded by an English man named William Penn. At first, Pennsylvania guaranteed religious freedom to all residents of the colony. Later on however, London started givi...

In Another Place by Ernest Hemingway Essay

The text under analysis is taken from the short story â€Å"In another country† belonging to the pen of Ernest Hemingway, an American novelist and short story writer whose works are characterized by terse minimalism and understatement. He was awarded the Nobel Prize for Literature in 1954. â€Å"In another country† is a powerful and true-to-life story about real experience of many soldiers who came home after the World War I and their hardships. The text presents a piece of narration with element of a description of nature and a dialogue. The narration is done in the first person. Hemingway tells the story from the point of view of the young American. The plot is eventless in events. The story describes the relationships that develop in Milan among an American and five Italian soldiers who have been wounded and are receiving physical therapy. All the wounded men go to the hospital every afternoon to use machines for physical therapy. The doctor assures the American that he will again play football even though his knee does not bend. His friend, an Italian major, is also undergoing therapy with a machine that exercises his hand that was injured in an industrial accident. Four other young men, Italian soldiers, are also using therapy machines, and they brag about the medals that they’ve received for their valor in battle. The plot consists of: Introduction. In this part the author talks about continuation the war and gives the description of autumn Milan. Development. The author introduces us with main character, an American soldier. Tells about him problems with health. Climax. In this part the author leads the Italian major and four other young men. Denouement. The author describes the way of soldiers from the hospital to the Cafà © Cova. The author compares the way with military operations. The mood of the story is established in the first paragraph, in which the dead game outside the shops is described as â€Å"stiff,† â€Å"heavy,† and â€Å"empty.† Loss, failure, and ruin permeate this brief story. Many of the characters grapple with a loss of function, a loss of purpose, and a loss of faith. Hemingway’s style is lean and declarative, but the author employs some stylistic devises. They help enhance the desired effect. The first two illustrate the author’s effective use of repetition and polysyndeton. For example, Hemingway states, â€Å"It was cold in the fall in Milan and the dark came very early.† He repeats this idea with a slightly different emphasis at the end of the paragraph: â€Å"It was a cold fall and the wind came down from the mountains.† The author uses vivid descriptions. For example, â€Å"On one of [the bridges], a woman sold roasted chestnuts. It was warm, standing in front of her charcoal fire, and the chestnuts were warm afterwards in your pockets.†

The Division Of Foreign Assets Control - 773 Words

â€Å"The Division of Foreign Assets Control was established in the Office of International Finance by a Treasury Department order in 1950, after People s Republic of China entered the Korean War. On October 15, 1962, through a Treasury Department order, the Division of Foreign Assets Control became the Office of Foreign Assets Control (OFAC). † The U.S. Department of the Treasury started administering the US economic sanctions against foreign states with the War against Britain in 1812, where Secretary Albert Gallatin imposed sanctions against Great Britain in retaliation for to the harassment of American sailors. After that there was OFAC played a key role in enforcing sanction against Cuba after the Cuban revolution; Iraq for the Kuwait invasion and recently against Russia in Ukrainian invasion. (Wikipedia) The Office of Foreign Assets Control (OFAC) is an arm of the U.S. Treasury Department that creates updates and circulates a list of nations, persons and organizations, which are considered as national security threats for the United States. What issues are OFAC expected tackle? OFAC was created to tackle and deter threats such as money laundering, terror financing, American monetary assistance from rouge states and sanctioned organizations. Why is OFAC important? OFAC plays a key role in aiding BSA/AML compliance against terrorist financing and anti-national financial activities by setting up sanction or watch list of people, organisations and nations with whom noShow MoreRelatedEssay on Wal-Mart Analysis1677 Words   |  7 Pagesdepartment store industry. Through its stores, Supercenters and Sam’s Club warehouse stores, the company operates 2,823 units in the United States, 606 units in six foreign countries, and has 7 joint ventures in the Pacific Rim. 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