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msmarco_v2.1_doc_38_1554578538#15_3286628764 | Title: Land: Meaning, Importance and Other Details
Headings: Land: Meaning, Importance and Other Details
Land: Meaning, Importance and Other Details
Meaning of Land:
Importance of Land:
Peculiarities of Land:
They are given below:
Land is a free gift of nature:
Land is limited in area:
Land is permanent:
Land lacks mobility:
Land is of infinite variety:
Why Qualities of Land Differ?
There are several reasons which account for differences in the qualities of land:
Differences in Fertility:
Differences in Location:
Factors Affecting Productivity of Land:
Productivity of land mainly depends on the following factors:
Natural Factors:
Human Factor:
Situation Factor:
Extensive and Intensive Cultivation:
Extensive Cultivation:
Intensive Cultivation:
Does Extensive Cultivation Mean Large-Scale Farming and Intensive Cultivation Small-Scale Farming?
Not necessarily:
But this may not be so:
Content: Differences in Location: A piece of land situated near a market is more convenient than one away from it. Situation is an important differentiating factor. A favourable situation may make a less fertile piece of land equal in value to one which is more fertile but has a bad situation. Factors Affecting Productivity of Land: Different pieces of land differ in quality or productivity. A number of factors affect the productivity of land. ADVERTISEMENTS: Productivity of land mainly depends on the following factors: Natural Factors: | https://www.economicsdiscussion.net/articles/land-meaning-importance-and-other-details/1519 |
msmarco_v2.1_doc_38_1554604492#1_3286687847 | Title: Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Headings: Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Read this article to learn about Pure Competition, Perfect Competition and Imperfect Competition!
1. Pure Competition:
Pure Competition is said to exist when the following two conditions are fulfilled:
(i) Large Number of Buyers and Sellers:
(ii) Homogeneous Product:
Diagrammatic Representation:
2. Perfect Competition:
The existence of the following conditions in a market will make it a perfect competition market:
(iii) Free Entry or Exit:
(iv) Perfect Knowledge:
(v) Absence of Transport Costs:
(vi) Perfect Mobility of the Factors of Production:
3. Imperfect Competition:
A. Monopolistic Competition:
The main features of monopolistic competition are:
B. Duopoly:
C. Oligopoly:
Monopoly:
Classification of Market Forms:
The following chart shows at a glance different types of market forms on the basis of the nature of competition:
B . Imperfect Competition:
C. Pure or Absolute Monopoly:
Content: Broadly speaking, we have the following market forms. 1. Pure Competition: ADVERTISEMENTS: Pure Competition is said to exist when the following two conditions are fulfilled: (i) Large Number of Buyers and Sellers: The first condition is that there should be operating in the market a large number of buyers and sellers. If that is so, no single producer or purchaser will be able to influence the market price by varying respectively his supply or demand. The output of any single firm is only a small portion of the total output and the demand of any single purchaser is only a small portion of the total demand. Hence, the market price has to be taken as given and unalterable by every purchaser and seller. | https://www.economicsdiscussion.net/articles/market-forms-pure-competition-perfect-competition-and-imperfect-competition/1685 |
msmarco_v2.1_doc_38_1554604492#6_3286699437 | Title: Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Headings: Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Read this article to learn about Pure Competition, Perfect Competition and Imperfect Competition!
1. Pure Competition:
Pure Competition is said to exist when the following two conditions are fulfilled:
(i) Large Number of Buyers and Sellers:
(ii) Homogeneous Product:
Diagrammatic Representation:
2. Perfect Competition:
The existence of the following conditions in a market will make it a perfect competition market:
(iii) Free Entry or Exit:
(iv) Perfect Knowledge:
(v) Absence of Transport Costs:
(vi) Perfect Mobility of the Factors of Production:
3. Imperfect Competition:
A. Monopolistic Competition:
The main features of monopolistic competition are:
B. Duopoly:
C. Oligopoly:
Monopoly:
Classification of Market Forms:
The following chart shows at a glance different types of market forms on the basis of the nature of competition:
B . Imperfect Competition:
C. Pure or Absolute Monopoly:
Content: It can sell as much as it likes at the prevailing price. Why should it then think of lowering its price? Hence it cannot raise its price and it need not lower it. That is why the prevailing market price is accepted and acted upon by all dealers. Thus, if the above two conditions, viz., homogeneous products and a large number of buyers and sellers are found in a market, it is said to be under pure competition. ADVERTISEMENTS: Diagrammatic Representation: Under pure competition, the average revenue curve (also called demand curve) of a firm will be a horizontal straight line, which means that any firm can sell any quantity at the prevailing price. Since the number of firms is very large, no individual firm has the power to vary the market price. | https://www.economicsdiscussion.net/articles/market-forms-pure-competition-perfect-competition-and-imperfect-competition/1685 |
msmarco_v2.1_doc_38_1554604492#12_3286712222 | Title: Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Headings: Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Read this article to learn about Pure Competition, Perfect Competition and Imperfect Competition!
1. Pure Competition:
Pure Competition is said to exist when the following two conditions are fulfilled:
(i) Large Number of Buyers and Sellers:
(ii) Homogeneous Product:
Diagrammatic Representation:
2. Perfect Competition:
The existence of the following conditions in a market will make it a perfect competition market:
(iii) Free Entry or Exit:
(iv) Perfect Knowledge:
(v) Absence of Transport Costs:
(vi) Perfect Mobility of the Factors of Production:
3. Imperfect Competition:
A. Monopolistic Competition:
The main features of monopolistic competition are:
B. Duopoly:
C. Oligopoly:
Monopoly:
Classification of Market Forms:
The following chart shows at a glance different types of market forms on the basis of the nature of competition:
B . Imperfect Competition:
C. Pure or Absolute Monopoly:
Content: ADVERTISEMENTS: Under perfect competition, all firms in the industry will be earning normal profit. This will happen only if there are no restrictions on the firms’ entry into, or exit from, that industry. If the profit is more, new firms will enter and the extra profit will be competed away; and if, on the other hand, profit is less, some firms will quit raising the profits for the remaining firms. But if there are restrictions on the entry of new firms, the existing firms may enjoy super-normal profit and the competition will be imperfect. Only when there are no restrictions on entry or exit, the competition is said to be perfect. (iv) Perfect Knowledge: Another assumption of perfect competition is that the purchasers and sellers should be fully aware of the prices that are being offered and accepted. In case there is ignorance among the dealers, the same price cannot rule in the market for the same commodity. | https://www.economicsdiscussion.net/articles/market-forms-pure-competition-perfect-competition-and-imperfect-competition/1685 |
msmarco_v2.1_doc_38_1554604492#13_3286714587 | Title: Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Headings: Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Market Forms: Pure Competition, Perfect Competition and Imperfect Competition
Read this article to learn about Pure Competition, Perfect Competition and Imperfect Competition!
1. Pure Competition:
Pure Competition is said to exist when the following two conditions are fulfilled:
(i) Large Number of Buyers and Sellers:
(ii) Homogeneous Product:
Diagrammatic Representation:
2. Perfect Competition:
The existence of the following conditions in a market will make it a perfect competition market:
(iii) Free Entry or Exit:
(iv) Perfect Knowledge:
(v) Absence of Transport Costs:
(vi) Perfect Mobility of the Factors of Production:
3. Imperfect Competition:
A. Monopolistic Competition:
The main features of monopolistic competition are:
B. Duopoly:
C. Oligopoly:
Monopoly:
Classification of Market Forms:
The following chart shows at a glance different types of market forms on the basis of the nature of competition:
B . Imperfect Competition:
C. Pure or Absolute Monopoly:
Content: But if there are restrictions on the entry of new firms, the existing firms may enjoy super-normal profit and the competition will be imperfect. Only when there are no restrictions on entry or exit, the competition is said to be perfect. (iv) Perfect Knowledge: Another assumption of perfect competition is that the purchasers and sellers should be fully aware of the prices that are being offered and accepted. In case there is ignorance among the dealers, the same price cannot rule in the market for the same commodity. When the producers and the customers have full knowledge of the prevailing price, nobody will offer more and none will accept less, and the same price will rule throughout the market. The producers can sell at that price as much as they like, and the buyers also can buy as much as they like. ADVERTISEMENTS: (v) Absence of Transport Costs: If the same price is to rule, it is necessary that no cost of transport has to be incurred. | https://www.economicsdiscussion.net/articles/market-forms-pure-competition-perfect-competition-and-imperfect-competition/1685 |
msmarco_v2.1_doc_38_1558582622#1_3296362233 | Title: Factors Affecting Employee Compensation
Headings: Factors Affecting Employee Compensation
Factors Affecting Employee Compensation
External and Internal Factors Affecting Employee Compensation
Factors Affecting Employee Compensation – External and Internal Determinants of Compensation
I. External Determinants of Compensation:
II. Internal Determinants of Compensation:
Factors Affecting Employee Compensation – 8 Important Factors: Supply and Demand for Employee Skills, Company’s Business Strategy, Job’s Worth and a Few Other Factors
Factor # 1. Supply and Demand for Employee Skills:
Factor # 2. Company’s Business Strategy:
Factor # 3. Job’s Worth:
Factor # 4. Labour Unions:
Factor # 5. Ability to Pay:
Factor # 6. Productivity:
Factor # 7. Cost of Living:
Factor # 8. Government Regulation:
Factors Affecting Employee Compensation – Demand & Supply of Labour, Capacity to Pay, Cost of Living, Productivity of Workers, Trade Unions, Wage Laws & Wage Rates
(i) Demand for and Supply of Labour:
(ii) Capacity to Pay:
(iii) Cost of Living:
(iv) Productivity of Workers:
(v) Trade Unions:
(vi) Wage Laws:
(vii) Prevailing Wage Rates:
Factors Affecting Employee Compensation – Internal and External Factor Influencing the Compensation Package Payable to Employees
1. External Factors:
2. Internal Factors:
Factors Affecting Employee Compensation – 13 Major Factors Affecting: Demand & Supply of Labour, Ability of Organisation to Pay, Prevailing Wage Rate and a Few Others
Factor # 1. Demand and Supply of Labour:
Factor # 2. Ability of Organisation to Pay:
Factor # 3. Prevailing Wage Rate:
Factor # 4. Cost of Living:
Factor # 5. Living Wage:
Factor # 6. Bargaining Power:
Factor # 7. Job Requirements:
Factor # 8. Productivity:
Factor # 9. Legal Requirements:
Factor # 10. Attitude of Managers:
Factor # 11. Labour Unions:
Factor # 12. Organisational Policies:
Factor # 13. Employee Related:
Content: they devote their time, energy, skills, knowledge to the organisation. In consideration of this devotion, employer gives compensation to employees. The compensation awarded to the employee is dependent on the volume of effort exerted, the nature of job and his skill. Besides, there are several other internal and external factors affecting the compensation. ADVERTISEMENTS: The factors affecting employee compensation can be categorized into:-
1. Internal Factors and 2. External Factors. Some of the external factors affecting employee compensation are: 1. | https://www.economicsdiscussion.net/human-resource-management/factors-affecting-employee-compensation/31636 |
msmarco_v2.1_doc_38_1564510211#0_3309886442 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: Herzberg's Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Article Shared by Nidhisingh B
ADVERTISEMENTS: Everything you need to know about Herzberg’s two factor theory of motivation. Herzberg’s Two Factor Theory is a “content theory” of motivation” Needs priority, to a great extent, characterizes the types of behavior. A research study was conducted by Frederick. Herzberg of Case-Western reserve University and associates. This study consisted of an intensive analysis of the experiences and feeling of 200 Engineers and accountants in 9 different companies in Pittsburg area, U.S.A.
ADVERTISEMENTS: Herzberg concluded that there were two categories of needs essentially independent of each other affecting behavior indifferent ways. His findings are that there are some job conditions which operate primarily to dis-satisfy employees when the conditions are absent, their presence does not motivate them in a strong way. Learn about:- 1. Hygiene Factors 2. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#1_3309890052 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: This study consisted of an intensive analysis of the experiences and feeling of 200 Engineers and accountants in 9 different companies in Pittsburg area, U.S.A.
ADVERTISEMENTS: Herzberg concluded that there were two categories of needs essentially independent of each other affecting behavior indifferent ways. His findings are that there are some job conditions which operate primarily to dis-satisfy employees when the conditions are absent, their presence does not motivate them in a strong way. Learn about:- 1. Hygiene Factors 2. Motivational Factors 3. Objectives 4. Critical Appreciation 5. Comparison between Maslow and Herzberg Models. Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
In the late fifties, interviews of 200 engineers and accountants of Pittsburg area of U.S. were conducted by an American psychologist Frederick Herzberg and his associates. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#2_3309893617 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: Motivational Factors 3. Objectives 4. Critical Appreciation 5. Comparison between Maslow and Herzberg Models. Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
In the late fifties, interviews of 200 engineers and accountants of Pittsburg area of U.S. were conducted by an American psychologist Frederick Herzberg and his associates. In this study, people were asked about their good and bad work experiences and elements related to these experiences. The analysis of replies of these persons revealed that the elements of good and bad experience were not the same. Bad experiences or feelings of unhappiness or dissatisfaction came from the environment in which they work, while good experiences or feelings of happiness or satisfaction came from factors related to job. ADVERTISEMENTS: According to Herzberg maintenance or hygiene factors are to maintain good working environment. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#5_3309903935 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: Maintenance and Motivational Factors: Maintenance/Hygiene Factors: i. Company policy
ii. Salary
iii. Job security
iv. Status
v. Working conditions
vi. Relationship with supervisor
vii. Relationship with peers. ADVERTISEMENTS: Motivational Factors: | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#6_3309906780 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: Status
v. Working conditions
vi. Relationship with supervisor
vii. Relationship with peers. ADVERTISEMENTS: Motivational Factors: i. Responsibility
ii. Recognition
iii. Growth
ADVERTISEMENTS: iv. Promotion opportunities
v. Self-development
Herzberg pointed that motivational factors and maintenance factors are single directional. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#7_3309909710 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: i. Responsibility
ii. Recognition
iii. Growth
ADVERTISEMENTS: iv. Promotion opportunities
v. Self-development
Herzberg pointed that motivational factors and maintenance factors are single directional. They effect in only one direction. Herzberg clarified that both maintenance factors and motivational factors can motivate the employees. ADVERTISEMENTS: For a maintenance seeker, who is motivated by environment, maintenance factors may act as a motivator and for motivation seeker, who is motivated by the quality of work, motivational factors act as motivator. Herzberg’s theory has been criticised on following basis: | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#8_3309912932 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: They effect in only one direction. Herzberg clarified that both maintenance factors and motivational factors can motivate the employees. ADVERTISEMENTS: For a maintenance seeker, who is motivated by environment, maintenance factors may act as a motivator and for motivation seeker, who is motivated by the quality of work, motivational factors act as motivator. Herzberg’s theory has been criticised on following basis: 1. Theory is based on survey of 200 employees who were engineers or accountants. So theory cannot be generalised because sample size is too small and only two occupations cannot represent entire workforce. This theory is more applicable to white collar workers. 2. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#9_3309916213 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: 1. Theory is based on survey of 200 employees who were engineers or accountants. So theory cannot be generalised because sample size is too small and only two occupations cannot represent entire workforce. This theory is more applicable to white collar workers. 2. The study was about extremely good or bad work experiences of people, it does not provide the comprehensive view about actual condition. 3. Categorisation of motivational and maintenance factors is a difficult task. One factor may be maintenance factor for one person and same may be motivational factor for others. 4. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#10_3309919388 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: The study was about extremely good or bad work experiences of people, it does not provide the comprehensive view about actual condition. 3. Categorisation of motivational and maintenance factors is a difficult task. One factor may be maintenance factor for one person and same may be motivational factor for others. 4. Satisfaction does not necessarily mean motivation. Deliberate efforts are required to link the both. The theory is a simplified portrayal of motivation process. Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
ADVERTISEMENTS: | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#11_3309922603 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: Satisfaction does not necessarily mean motivation. Deliberate efforts are required to link the both. The theory is a simplified portrayal of motivation process. Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
ADVERTISEMENTS: Frederick Herzberg, Professor and Chairman, Psychology Department at Chase, Western Reserve University, Pitsburg, USA and author of “Work and Nature of Man” (World publishing Co. USA, 1966), in late 1950’s undertook intensive study of 200 engineers from 11 different companies in Pitsburgh, USA on Maslow’s ‘Motivation’ need priority model, especially on esteem and self-actualization needs. Ensuing the study, Herzberg inferred that there are two factors of motivation- (i) Hygiene factors and (ii) Motivational factors. This set many guidelines for management and its efforts in ineffective utilisation of human resources. The theory developed out of his study is known as- “Motivation Maintenance Theory” or “Motivation Hygiene Theory” and also called as “Two-Factor Theory of Motivation.” Now, let us analyse these. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#12_3309926379 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: Frederick Herzberg, Professor and Chairman, Psychology Department at Chase, Western Reserve University, Pitsburg, USA and author of “Work and Nature of Man” (World publishing Co. USA, 1966), in late 1950’s undertook intensive study of 200 engineers from 11 different companies in Pitsburgh, USA on Maslow’s ‘Motivation’ need priority model, especially on esteem and self-actualization needs. Ensuing the study, Herzberg inferred that there are two factors of motivation- (i) Hygiene factors and (ii) Motivational factors. This set many guidelines for management and its efforts in ineffective utilisation of human resources. The theory developed out of his study is known as- “Motivation Maintenance Theory” or “Motivation Hygiene Theory” and also called as “Two-Factor Theory of Motivation.” Now, let us analyse these. The idea of quite a few management personalities that money is the only motivation was changed by Herzberg’s theory of motivation. He made scientific achievement in this regard. According to him, motivation has two dimensions: (i) The factors that can cause dissatisfaction if present-Herzberg called them “Hygiene Factors”, and
(ii) Those, which lead to positive attitude and motivation, if they are present; and in their absence they lead to a negative attitude. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#13_3309930332 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: The idea of quite a few management personalities that money is the only motivation was changed by Herzberg’s theory of motivation. He made scientific achievement in this regard. According to him, motivation has two dimensions: (i) The factors that can cause dissatisfaction if present-Herzberg called them “Hygiene Factors”, and
(ii) Those, which lead to positive attitude and motivation, if they are present; and in their absence they lead to a negative attitude. They are called “Motivational Factors”. 1. Hygiene Factors: ADVERTISEMENTS: These are called ‘Maintenance’ factors also. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#15_3309936872 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: When the presence of these factors may not significantly motivate an employee, the absence of such factors can cause serious dissatisfaction. For example, these factors are wages, fringe benefits, working conditions, company policy, administration and supervision. When these physiological and security needs are achieved, dissatisfaction disappears in an individual. A point to be noted is that ‘no positive’ attitude or motivation takes place in an individual. This, according to Herzberg’s hygiene factors, prevents dissatisfaction but do not act as incentives (satisfiers). 2. Motivational Factors: These are directly are related to work itself. The presence of these factors leads to a highly motivating situation. However, their absence does not create any dissatisfaction. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#16_3309940259 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: 2. Motivational Factors: These are directly are related to work itself. The presence of these factors leads to a highly motivating situation. However, their absence does not create any dissatisfaction. The motivational factors include-recognition on achievement, advancement of work itself, possibility of growth and development and responsibility. Factors like achievement and responsibility are related to the work itself and others are derived from it. These factors are called motivators or satisfiers. They are job centered and related to job contents. Herzberg’s model has been applied to the industry and it has given new hopes and avenues. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#20_3309953955 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: When we consider the Indian conditions, the workers attach greater importance to job security due to the fact that job opportunities are limited because of a large number of aspirants. When we compare Maslow and Herzberg’s models, we find a particular difference of motivation between the two. Maslow puts forward his view that any unsatisfied need, whether of lower or higher order can motivate individuals. Therefore the theory has a universality in its application. It can be applicable to lower level employees as well as the higher level executives. The fact remains clear in underdeveloped countries due to a lack of socio-economic progress. Even lower order needs are not yet satisfied by a vast majority of working class. Such needs are still considered as strong motivating factors. As per Herzberg theory, these are hygiene factors and fail to motivate workers. While applying any motivation theory, socio-economic conditions and standard of living of the working class needs to be taken into consideration, so as to help get better results through motivation. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#21_3309957623 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: The fact remains clear in underdeveloped countries due to a lack of socio-economic progress. Even lower order needs are not yet satisfied by a vast majority of working class. Such needs are still considered as strong motivating factors. As per Herzberg theory, these are hygiene factors and fail to motivate workers. While applying any motivation theory, socio-economic conditions and standard of living of the working class needs to be taken into consideration, so as to help get better results through motivation. Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
Another study of motivation based on what people want, and what motivates them was developed by Frederick Herzberg of case-western Reserve University. He conducted a study on 200 engineers and accountants in nine different companies in Pittsburgh area, USA. The research approach was built around situation in which respondents found their job “exceptionally good” or “exceptionally bad”. This approach has been repeated many times with a variety of job holders in various countries. The results indicated that recognition led to a “good feeling” and the lack of recognition reflect in the form of “bad feeling”. | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1564510211#23_3309965128 | Title: Herzberg's Two Factor Theory of Motivation
Headings: Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation
Herzberg’s Two Factor Theory of Motivation – Maintenance and Motivational Factors and Criticism
Maintenance and Motivational Factors:
Maintenance/Hygiene Factors:
Motivational Factors:
Herzberg’s theory has been criticised on following basis:
Herzberg’s Two Factor Theory of Motivation – Two Dimensions of Motivation: Hygiene Factors and Motivational Factors
According to him, motivation has two dimensions:
1. Hygiene Factors:
2. Motivational Factors:
Herzberg’s Two Factor Theory of Motivation – Factors and Objectives
(i) Motivational Factors:
(ii) Maintenance Factors:
According to Dumette, Cumette, Campbell and Haked (1967) this theory has accomplished three important objectives:
Herzberg’s Two Factor Theory of Motivation
Hygiene Factors:
Motivators:
Herzberg’s Two Factor Theory of Motivation – Criticisms and Comparison of Maslow’s and Herzberg’s Models
Criticisms:
This theory suffers from the following criticisms:
Comparison of Maslow’s and Herzberg’s Models:
Herzberg’s Two Factor Theory of Motivation – Factors, Critical Appreciation and Comparison of Maslow and Herzberg Models
He asked them two questions:
The factors so identified were classified by him into two categories:
1. Motivational Factors:
Herzberg mentioned six motivational factors as:
2. Maintenance Factors:
Herzberg named ten maintenance factors as:
Critical Appreciation of Herzberg’s Model:
Criticism:
Comparison of Maslow and Herzberg Models:
Herzberg’s Two Factor Theory of Motivation – With Shortcomings and Conclusion
The theory is classified into two factors:
A. Hygienic or Maintenance Factors:
B. Motivators:
The Shortcomings of Herzberg’s Theory:
Conclusion:
Herzberg’s Two Factor Theory of Motivation – Hygiene Factors, Motivating Factors, Critical Analysis and Comparison
Various hygiene and motivating factors as follows:
i. Hygiene Factors:
ii. Motivating Factors:
Critical Analysis of the Theory:
Thinkers on the subject have argued against the theory as follows:
Comparison of Maslow and Herzberg Theories:
Content: He concluded that when people feel good about their jobs they are satisfied. ADVERTISEMENTS: They mentioned features intrinsic to the job. On the other hand when they were dissatisfied, feel bad about their jobs, they tend to give extrinsic factors as the main reasons. Herzberg called these Motivation and maintenance factors respectively. Therefore this theory is also called Dual factor theory of the motivation – Hygiene theory of motivation. (i) Motivational Factors: These factors are associated with positive feelings of employees about the job. The achievement and responsibilities are related to job itself, the employee’s performance. Moti | https://www.economicsdiscussion.net/motivation/herzbergs-two-factor-theory-of-motivation/31821 |
msmarco_v2.1_doc_38_1565157786#18_3311343847 | Title: Perfect Competition Market | Economics
Headings: Perfect Competition Market | Economics
Perfect Competition Market | Economics
These are:
1. A homogeneous product:
2. Many sellers:
3. Perfect information:
4. Freedom of entry and exit:
Competition becomes imperfect for various reasons such as:
1. Costly information and mobility:
Opportunity cost of time:
Transport cost:
2. Heterogeneous consumer tastes:
3. Market price vs. administered price:
As Lipsey put it, “In markets other than perfect competition, firms set their prices and then demand determine sales. Changes in market conditions are signalled to the firm by changes in the quantity that the firm sells at its current administered price.”
4. Short-run price stability:
5. Other aspects of Imperfect Competition:
These are the following:
(i) Non-price competition:
(ii) Unexploited Economies of Scale:
(iii) Entry prevention:
Content: In this sense, firms are simply responding to market forces. The real commercial world is clearly different from the world implied by perfect competition. A perfectly competitive market is characterised by a large number of small firms that produce a homogeneous product. As a result, each firm is a price-taker and, in the long run, economic profit is equal to two. However, in many instances markets are characterised by a large number of small firms that produce a heterogeneous product. In fact, this type of market pervades our economy. This market structure is referred to as imperfect (monopolistic) competition. ADVERTISEMENTS: While perfectly competitive firms product a homogeneous product, firms in a monopolistically competitive market produce differentiated products. As a result, monopolistically competitive firms are able to exercise some degree of control over price, regardless of the source of the product differentiation. | https://www.economicsdiscussion.net/perfect-competition/perfect-competition-market-economics/25545 |
msmarco_v2.1_doc_38_1566876787#7_3315535902 | Title: Advantages of outsourcing by Multinationals - Economics Help
Headings: Advantages of outsourcing by Multinationals
Advantages of outsourcing by Multinationals
Readers Question: Is outsourcing beneficial for multinationals and their home countries?
The Benefits of Outsourcing for Multinationals include
Benefits to society of outsourcing
Problems of Outsourcing
Benefits of Outsourcing for developing economies.
Costs of Outsourcing for developing economies
See also:
Content: Outsourcing is a growing phenomenon among developing countries. There is controversy about whether outsourcing actually benefits developing countries. But some benefits include
Creates Direct Foreign Investment. This boosts the rate of economic growth and can lead to improvements in infrastructure and confidence in the economy. Creates Employment. Outsourcing has provided a new arena of employment, especially for developing economies with good standards of English and skills. A benefit to balance of payments. ( inflows of investment. This enables a developing economy to run a larger current account deficit and have a better standard of living. Extra demand for workers may put upward pressure on wages in the long term. | https://www.economicshelp.org/blog/100/trade/outsourcing-multinationals/ |
msmarco_v2.1_doc_38_1567176329#15_3316361344 | Title: Factors that explain wage inequality - Economics Help
Headings: Factors that explain wage inequality
Factors that explain wage inequality
Brief overview of wage inequality
Factors that explain wage inequality
To what extent does MRP theory determine wages?
3. Monopsony
Sources of monopsony power and wage inequality
4. Part-time / temporary work
5. Wage inequality due to hours worked / rather than wage rates
6. Discrimination
7. Geographical differences
8. Insider/outsider theories
9. Profitability of different industries
Reasons for growth in wage inequality in past decades
Related
Content: 9. Profitability of different industries
Some industries, such as financial services have traditionally been able to make higher profits; this feeds through into higher wages, especially when pay/bonuses are linked to performance. The past couple of decades has seen rapid growth in the net wage of high-income earners; this is partly related to the relative success of financial services. 10. Globalisation/trade liberalisation Trade liberalisation has led to a shift in the structure of the economy. It is cheaper to import labour-intensive goods from emerging economies. This leads to lower demand for unskilled workers in the West. It leads to higher demand for skilled workers in industries with comparative advantage. | https://www.economicshelp.org/blog/14299/labour-markets/factors-that-explain-wage-inequality/ |
msmarco_v2.1_doc_38_1567176329#16_3316362905 | Title: Factors that explain wage inequality - Economics Help
Headings: Factors that explain wage inequality
Factors that explain wage inequality
Brief overview of wage inequality
Factors that explain wage inequality
To what extent does MRP theory determine wages?
3. Monopsony
Sources of monopsony power and wage inequality
4. Part-time / temporary work
5. Wage inequality due to hours worked / rather than wage rates
6. Discrimination
7. Geographical differences
8. Insider/outsider theories
9. Profitability of different industries
Reasons for growth in wage inequality in past decades
Related
Content: 10. Globalisation/trade liberalisation Trade liberalisation has led to a shift in the structure of the economy. It is cheaper to import labour-intensive goods from emerging economies. This leads to lower demand for unskilled workers in the West. It leads to higher demand for skilled workers in industries with comparative advantage. 11. Inherited privilege With education becoming an important factor in determining lifetime wages, young people from high income / wealthy families tend to have better access to educational opportunities. This can give a help to boosting wages. Reasons for growth in wage inequality in past decades
Source: IFS
The biggest growth in wages is from top 1% of earners, and even greater increase in the top 0.1%. | https://www.economicshelp.org/blog/14299/labour-markets/factors-that-explain-wage-inequality/ |
msmarco_v2.1_doc_38_1567337688#5_3316789286 | Title: How does US / China trade war affect EU, Asia and Africa? - Economics Help
Headings: How does US / China trade war affect EU, Asia and Africa?
How does US / China trade war affect EU, Asia and Africa?
Cost of US/China Trade war
Evaluation of trade war
Effect on the EU
“It’s worth all our efforts to defuse this conflict, so it doesn’t become a war,”
Related
Content: Evaluation of trade war
The trade war is currently piecemeal. There are tariffs on selected goods, such as agriculture and washing machines. On its own, the effect on global growth is fairly minimal. The bigger concern for other countries is if the trade war escalates and is extended to a wider range of goods. If growth in the EU area was strong, they are unlikely to be affected by a piecemeal trade dispute between the US and China. Opportunities of tariffs. If the US places high tariffs on the import of Chinese goods, it gives an opportunity for other countries to displace Chinese exports. For example, North American economies, other Asian countries and the EU could find they are now more competitive and regain a foothold in export markets to the US. A study by United Nations Conference on Trade and Development suggest that EU firms could be able to gain from gaps in the market US$50 billion from lost Chinese exports to the US and US$20 billion from lost US exports to China. Japan, Mexico and Canada also are each likely to capture more than US$20 billion in trade. ( | https://www.economicshelp.org/blog/148143/trade/how-does-us-china-trade-war-affect-other-countries/ |
msmarco_v2.1_doc_38_1567409714#6_3316967482 | Title: Pros and cons of Immigration - Economics Help
Headings: Pros and cons of Immigration
Pros and cons of Immigration
Pros of Immigration
Cons of immigration
Related
Content: For example, just 20% of UK citizens finished education at 21 or later. But 53% of new immigrants were educated until 21 or later. ( LSE study 2012) Immigration allows an economy to attract high skilled professionals to fill in job vacancies and contribute to higher tax revenues. 5. Net benefit to government revenues. Because immigrants are more likely to be young and working than native-born citizens, they provide a net benefit to government revenues. Working people pay income tax, but don’t receive benefits, such as education, pensions. Young people are less likely to use health care services than old people. For example, the UK government HMRC show that in 2015/16, EEA nationals paid £15.5bn more in income tax and national insurance than they took out in tax credits and child benefit ( HMRC, 2018 ). A study by Oxford Economics (2018) shows that recent migrants from EEA had biggest fiscal benefit (+£4.7bn), non-EEA migrants a small cost (£ -9.0), and UK born citizens the biggest net tax burden (-£41.0bn). | https://www.economicshelp.org/blog/152453/economics/pros-and-cons-of-immigration/ |
msmarco_v2.1_doc_38_1567409714#7_3316968916 | Title: Pros and cons of Immigration - Economics Help
Headings: Pros and cons of Immigration
Pros and cons of Immigration
Pros of Immigration
Cons of immigration
Related
Content: Because immigrants are more likely to be young and working than native-born citizens, they provide a net benefit to government revenues. Working people pay income tax, but don’t receive benefits, such as education, pensions. Young people are less likely to use health care services than old people. For example, the UK government HMRC show that in 2015/16, EEA nationals paid £15.5bn more in income tax and national insurance than they took out in tax credits and child benefit ( HMRC, 2018 ). A study by Oxford Economics (2018) shows that recent migrants from EEA had biggest fiscal benefit (+£4.7bn), non-EEA migrants a small cost (£ -9.0), and UK born citizens the biggest net tax burden (-£41.0bn). Evaluation – The impact of migration does depend on the type of immigrants. In the UK experience, non-EEA migrants have a bigger fiscal cost, because this includes more old-aged dependents who can migrate due to family reasons (therefore negative tax impact). There is a list of different studies on the fiscal impact of immigration here. 6. Deal with an ageing population. | https://www.economicshelp.org/blog/152453/economics/pros-and-cons-of-immigration/ |
msmarco_v2.1_doc_38_1567549204#5_3317330577 | Title: Importance of economics in our daily lives - Economics Help
Headings: Importance of economics in our daily lives
Importance of economics in our daily lives
Summary – why economics is important
Economic choices – opportunity cost
Choice of study vs leisure
Work
Nudges and rational behaviour
Behavioural economics and bias
Importance of the macroeconomy on our daily lives
How to survive a period of inflation?
How will we be affected by rising interest rates?
Investing
Externalities
Limitations of economics
Related
Content: Which job will give the most satisfaction? It is not just about finding a well-paid job, we tend to gain most job satisfaction when we feel part of the process and a degree of responsibility and influence. Behavioural economists such as Dan Ariely have examined motivations for work and find that income/bonuses is less important than suggested by neo-liberal economic theory. Nudges and rational behaviour
In traditional economics, it is assumed individuals are rational and utility maximising. In other words, it is assumed we calculate decision to maximise our economic welfare – spending money only on those goods which give us satisfaction. However, behavioural economists note that we are often influenced by irrational and non-utility maximising influences. For example, companies which ‘ nudge ‘ us to make decisions which harm our welfare – e.g. super-sized portions, we don’t really need but cause us to become less healthy. The importance of the insights of behavioural economics is that we can become aware of factors which may cause us to make sub-optimal decisions. We can try to resist commercial nudges – which encourage us to consume goods which don’t really benefit us. Behavioural economics and bias
A recent development in economics is the work of behavioural economics – which places more emphasis on elements of psychology. | https://www.economicshelp.org/blog/1974/economics/importance-of-economics-in-our-daily-lives/ |
msmarco_v2.1_doc_38_1567549204#6_3317332738 | Title: Importance of economics in our daily lives - Economics Help
Headings: Importance of economics in our daily lives
Importance of economics in our daily lives
Summary – why economics is important
Economic choices – opportunity cost
Choice of study vs leisure
Work
Nudges and rational behaviour
Behavioural economics and bias
Importance of the macroeconomy on our daily lives
How to survive a period of inflation?
How will we be affected by rising interest rates?
Investing
Externalities
Limitations of economics
Related
Content: However, behavioural economists note that we are often influenced by irrational and non-utility maximising influences. For example, companies which ‘ nudge ‘ us to make decisions which harm our welfare – e.g. super-sized portions, we don’t really need but cause us to become less healthy. The importance of the insights of behavioural economics is that we can become aware of factors which may cause us to make sub-optimal decisions. We can try to resist commercial nudges – which encourage us to consume goods which don’t really benefit us. Behavioural economics and bias
A recent development in economics is the work of behavioural economics – which places more emphasis on elements of psychology. For example, are humans really rational utility maximisers – as suggested by traditional economic theory? Behavioural economics suggests not – but humans are influenced by emotional factors, such as loss aversion (we prefer the status quo, to losing what we have), present time period bias. Importance of the macroeconomy on our daily lives
When making decisions we don’t tend to first look at leading economic indicators. But, perceptions about the economic outlook can influence certain decisions. For example, those aware of the current economic situation may be aware the depth of the recession which makes a period of low-interest rates more likely. | https://www.economicshelp.org/blog/1974/economics/importance-of-economics-in-our-daily-lives/ |
msmarco_v2.1_doc_38_1567625021#4_3317516354 | Title: Negative bond yields - definition and explanation - Economics Help
Headings: Negative bond yields – definition and explanation
Negative bond yields – definition and explanation
Why would people buy negative bonds?
What at the implications of negative bond yields?
Related
Content: As part of a diversified investment plan, pension funds and investment trusts may wish to keep a % of their funds in government bonds to maintain a certain reserve. Similarly commercial banks may need to hold gilts to maintain reserve ratios. Quantitative easing. Central Banks may be buying bonds as part of a quantitative easing programme and therefore there is an unusually high demand for bonds. Still make profit from currency swings. Japan has negative bond yields, but foreign investors may be able to make profit from the rising value of the Yen. The bond itself may lose money, buy if the Yen increases in value compared to the Euro. Euro investors make money from holding Yen – and government bonds are one of the easiest ways of holding foreign assets. See: Yen carry trade
Deflation. | https://www.economicshelp.org/blog/21174/economics/negative-bond-yields/ |
msmarco_v2.1_doc_38_1567625021#5_3317517653 | Title: Negative bond yields - definition and explanation - Economics Help
Headings: Negative bond yields – definition and explanation
Negative bond yields – definition and explanation
Why would people buy negative bonds?
What at the implications of negative bond yields?
Related
Content: Japan has negative bond yields, but foreign investors may be able to make profit from the rising value of the Yen. The bond itself may lose money, buy if the Yen increases in value compared to the Euro. Euro investors make money from holding Yen – and government bonds are one of the easiest ways of holding foreign assets. See: Yen carry trade
Deflation. If a country experiences deflation (e.g. inflation rate of -1%), then a negative nominal bond yield of -0.04% still can give a real positive return for the investor, because the bond is falling in value at a slower rate than cash reserves because of deflation. What at the implications of negative bond yields? Expectations of low growth / deflation. Usually negative bond yields are an indication that investors expect some form of economic downturn. It is this negative expectation which encourage investors to choose the safety of government bonds rather than commodities or share prices. | https://www.economicshelp.org/blog/21174/economics/negative-bond-yields/ |
msmarco_v2.1_doc_38_1567692831#13_3317718086 | Title: Economic impact of war - Economics Help
Headings: Economic impact of war
Economic impact of war
Costs of war
War and inflation
War and National debt
The financial cost of war
Cost of civil war
The aftermath of War?
The opportunity cost of war
Psychological costs
Economic benefits of wars
Domestic demand and unemployment
Possible unemployment
1960s economic boom
Related
Content: Possible unemployment
However, at the end of major wars, there is the danger that returning soldiers may struggle to find employment. After the end of the First World War, there was a major economic slump, and returning soldiers struggled to find jobs which had been replaced during the war. A sharp rise in unemployment after the end of the First World War. The Versailles Treaty which demanded reparations from Germany did not help as it contributed to lower trade
1960s economic boom
In the 1950s and 1960s, the US was involved in major conflicts in Korea, Vietnam and Cambodia. Military spending took an increasing share of GDP and was partly responsible for strong domestic demand and high rates of economic growth. Companies involved in the manufacture of arms saw a rise in demand and profit. See: War and the Economy
Related
Iraq War and US economy | https://www.economicshelp.org/blog/2180/economics/economic-impact-of-war/ |
msmarco_v2.1_doc_38_1567731895#2_3317796521 | Title: Chinese Currency Manipulation - Economics Help
Headings: Chinese Currency Manipulation
Chinese Currency Manipulation
Related
Content: This policy of buying foreign assets has led China to accumulate $2.4 trillion of foreign currency reserves. ( China’s Foreign Currency Reserves)
Why is China Pursuing this Policy? China is pursuing a policy of reducing the value of its currency to try and boost growth, especially in its key exporting industries. Chinese growth is very high by western standards. However, China needs a high rate of growth to absorb labour that is made unemployed from the agricultural sector. Because China doesn’t have much in the way of social welfare payments, it is concerned that without job creation in the manufacturing sector they could face high unemployment and social unrest. Therefore, keeping a weak currency helps to boost demand for Chinese exports and therefore Chinese jobs. Why is US Unhappy at Situation? By keeping the dollar strong, US exports become less competitive. Also by keeping the dollar strong to the Chinese Yuan, it makes Chinese imports relatively more attractive, increasing foreign demand at the expense of domestic producers. | https://www.economicshelp.org/blog/2388/economics/chinese-currency-manipulation/ |
msmarco_v2.1_doc_38_1567876930#4_3318169365 | Title: Transactional utility - Economics Help
Headings: Transactional utility
Transactional utility
Transactional utility and Prospect Theory
Examples of Transactional utility
Another question – Buying expensive products
Implications of transactional utility
Personal examples of transactional utility
Related
Content: One reason is transactional utility. The radio is nearly 30% discount – giving a large perceived transactional utility to buy the cheaper radio. The TV is only 1.5% cheaper so the transactional utility of saving $10 out of $640 feels much less. Another question – Buying expensive products
Suppose you are thirsty at the airport, and someone offers you a bottle of water for $6. The marginal utility of the water is greater than the $6. However, despite being really thirsty, this transaction creates significant negative transactional utility because you know $6 for a bottle of water is much higher than your usual reference price for water. Implications of transactional utility
We may not buy a product, even if value is greater than market price (we dislike feeling of being ripped off)
A reason why football clubs and sports stars may sell tickets below market price. Market clearing price to see Manchester United may be £200, but the perceived fair market price is £80. For a monopoly to charge higher prices than usual, they should try to differentiate the product from our usual reference price. For example, cinemas sell popcorn at inflated prices (above market price). | https://www.economicshelp.org/blog/27579/concepts/transactional-utility/ |
msmarco_v2.1_doc_38_1567961882#7_3318395451 | Title: Pros and Cons of High Speed Rail HS2 - Economics Help
Headings: Pros and Cons of High Speed Rail HS2
Pros and Cons of High Speed Rail HS2
Pros of High-Speed Rail
Cons of HS2
Overall
Related
Content: Residents are unhappy at impact on living standards and home values. In an era of austerity, spending on train service is not the highest priority. There is a high opportunity cost of spending on HS2 as the £88bn could be spent elsewhere (e.g. fixing potholes, reducing congestion on roads, decarbonising economy)
Forecasts for passenger numbers are uncertain, there is no guarantee the demand will be there. In recent years, rail traffic growth has dipped. The scheme may not be finished until 2040. Rather than reduce the north-south divide, it may encourage people to live further away from London and use HS2 as a fast commute to London. The costs of HS2 continue to rise. Initially, in 2015, the project was forecast to cost £56bn but could now the total cost could soar to over £100bn. The higher cost is partly due to more expensive tunnelling to keep down noise to residents near the track. One report claims HS2 costs are out of control ( BBC)
There are cheaper and more effective ways to increase capacity, such as digital signalling, investment in local commuting routes. | https://www.economicshelp.org/blog/3088/economics/pros-and-cons-of-high-speed-rail-hs2/ |
msmarco_v2.1_doc_38_1567961882#8_3318396972 | Title: Pros and Cons of High Speed Rail HS2 - Economics Help
Headings: Pros and Cons of High Speed Rail HS2
Pros and Cons of High Speed Rail HS2
Pros of High-Speed Rail
Cons of HS2
Overall
Related
Content: Rather than reduce the north-south divide, it may encourage people to live further away from London and use HS2 as a fast commute to London. The costs of HS2 continue to rise. Initially, in 2015, the project was forecast to cost £56bn but could now the total cost could soar to over £100bn. The higher cost is partly due to more expensive tunnelling to keep down noise to residents near the track. One report claims HS2 costs are out of control ( BBC)
There are cheaper and more effective ways to increase capacity, such as digital signalling, investment in local commuting routes. HS3 would link Manchester with Leeds and could be a better way to reinvigorate the northern economy. Rail-future a campaigning group for rail travel criticised the need for ultra high speed trains, there may be a bigger overall benefit from running slightly slower trains over different routes. Railfuture
Although £8bn has been spent on preparation – this is a sunk cost – we shouldn’t go ahead with a bad scheme just because of sunk costs – which are spent no matter what choice we make. It is better to write off bad spending – than compound it and make it worse. ( see sunk cost fallacy)
Overall
It is not often Britain attempts an ambitious investment project. | https://www.economicshelp.org/blog/3088/economics/pros-and-cons-of-high-speed-rail-hs2/ |
msmarco_v2.1_doc_38_1568165022#0_3318926755 | Title: Impact of increasing the rate unemployment benefits - Economics Help
Headings: Impact of increasing the rate unemployment benefits
Impact of increasing the rate unemployment benefits
Benefits of increasing unemployment benefits
Problems of increasing unemployment benefits
Statistics
Cost of unemployment benefits
Unemployment benefit spending compared to social security spending.
Fraudulent Unemployment benefit claims
Content: Impact of increasing the rate unemployment benefits - Economics Help
Impact of increasing the rate unemployment benefits
15 January 2020
28 April 2008 by Tejvan Pettinger
Readers Question. Explain the benefits of increasing the rate of unemployment benefit for
1. the unemployed, 2. society. Identify and costs that may result from such a policy. Benefits of increasing unemployment benefits
Provides more income, reducing relative poverty and improving living standards. Gives them support in finding the best job. If benefits are low, then they will be forced to get the quickest job they can find. But, this may not be suitable for their skills. Higher benefits enable the unemployed to take more time and find a job which matches their skills. | https://www.economicshelp.org/blog/468/unemployment/the-rate-of-unemployment-benefits/ |
msmarco_v2.1_doc_38_1568165022#1_3318928158 | Title: Impact of increasing the rate unemployment benefits - Economics Help
Headings: Impact of increasing the rate unemployment benefits
Impact of increasing the rate unemployment benefits
Benefits of increasing unemployment benefits
Problems of increasing unemployment benefits
Statistics
Cost of unemployment benefits
Unemployment benefit spending compared to social security spending.
Fraudulent Unemployment benefit claims
Content: Benefits of increasing unemployment benefits
Provides more income, reducing relative poverty and improving living standards. Gives them support in finding the best job. If benefits are low, then they will be forced to get the quickest job they can find. But, this may not be suitable for their skills. Higher benefits enable the unemployed to take more time and find a job which matches their skills. This is also a benefit for society. For example, if someone leaves university, with a degree in astrophysics, we don’t want them working in McDonalds because unemployment benefits are too low to support their job search on leaving university. Basically, frictional unemployment is not a bad thing; sometimes it takes time to find the right job. Low unemployment benefits could fuel social unrest and encourage the unemployed to resort to crime to supplement their income. | https://www.economicshelp.org/blog/468/unemployment/the-rate-of-unemployment-benefits/ |
msmarco_v2.1_doc_38_1568165022#2_3318929689 | Title: Impact of increasing the rate unemployment benefits - Economics Help
Headings: Impact of increasing the rate unemployment benefits
Impact of increasing the rate unemployment benefits
Benefits of increasing unemployment benefits
Problems of increasing unemployment benefits
Statistics
Cost of unemployment benefits
Unemployment benefit spending compared to social security spending.
Fraudulent Unemployment benefit claims
Content: This is also a benefit for society. For example, if someone leaves university, with a degree in astrophysics, we don’t want them working in McDonalds because unemployment benefits are too low to support their job search on leaving university. Basically, frictional unemployment is not a bad thing; sometimes it takes time to find the right job. Low unemployment benefits could fuel social unrest and encourage the unemployed to resort to crime to supplement their income. Unemployment is often associated with a feeling of social alienation leading to riots such as Brixton 1981 and Paris in 2006. If unemployment benefits are low, society may have to spend on other benefits such as housing benefit and child benefit to keep the children of the unemployed out of poverty. Encourage higher wages. Higher unemployment benefits may encourage firms to offer higher wages to encourage people to accept a job. Reduction in other income support related benefits. | https://www.economicshelp.org/blog/468/unemployment/the-rate-of-unemployment-benefits/ |
msmarco_v2.1_doc_38_1568165022#3_3318931303 | Title: Impact of increasing the rate unemployment benefits - Economics Help
Headings: Impact of increasing the rate unemployment benefits
Impact of increasing the rate unemployment benefits
Benefits of increasing unemployment benefits
Problems of increasing unemployment benefits
Statistics
Cost of unemployment benefits
Unemployment benefit spending compared to social security spending.
Fraudulent Unemployment benefit claims
Content: Unemployment is often associated with a feeling of social alienation leading to riots such as Brixton 1981 and Paris in 2006. If unemployment benefits are low, society may have to spend on other benefits such as housing benefit and child benefit to keep the children of the unemployed out of poverty. Encourage higher wages. Higher unemployment benefits may encourage firms to offer higher wages to encourage people to accept a job. Reduction in other income support related benefits. If unemployment benefits are higher, it may enable lower income support / universal credit. Problems of increasing unemployment benefits
Unemployment Trap. If benefits are increased too much then there may be little incentive to get a job rather than stay on benefits. This is said to be a problem in Germany, where generous unemployment benefits encourage many to stay on benefits (known as voluntary unemployment)
Cost to taxpayer of paying for the benefits. However, the level of unemployment benefits is currently quite low relative to other benefits. | https://www.economicshelp.org/blog/468/unemployment/the-rate-of-unemployment-benefits/ |
msmarco_v2.1_doc_38_1568165022#4_3318932999 | Title: Impact of increasing the rate unemployment benefits - Economics Help
Headings: Impact of increasing the rate unemployment benefits
Impact of increasing the rate unemployment benefits
Benefits of increasing unemployment benefits
Problems of increasing unemployment benefits
Statistics
Cost of unemployment benefits
Unemployment benefit spending compared to social security spending.
Fraudulent Unemployment benefit claims
Content: If unemployment benefits are higher, it may enable lower income support / universal credit. Problems of increasing unemployment benefits
Unemployment Trap. If benefits are increased too much then there may be little incentive to get a job rather than stay on benefits. This is said to be a problem in Germany, where generous unemployment benefits encourage many to stay on benefits (known as voluntary unemployment)
Cost to taxpayer of paying for the benefits. However, the level of unemployment benefits is currently quite low relative to other benefits. Statistics
Cost of unemployment benefits
In the 2014 the public expenditure survey, the total cost of unemployment benefit payments fell from £5.5 bn to £4.9 bn – Claimant count method. Unemployment benefit spending compared to social security spending. UK benefit spending
Unemployment benefit is now dwarfed by housing benefit
Fraudulent Unemployment benefit claims
It is possible that the claimant count could overstate the level of unemployment because people could collect JSA whilst also having a job. However, the levels of estimated benefit fraud is quite low. According to gov.uk, in 2012/13 , 4.6% of unemployment benefit was estimated to be overpaid or £230m out of total cost of £5bn
Source: | https://www.economicshelp.org/blog/468/unemployment/the-rate-of-unemployment-benefits/ |
msmarco_v2.1_doc_38_1568225807#5_3319104457 | Title: Problems of Agriculture - Market Failure - Economics Help
Headings: Problems of Agriculture – Market Failure
Problems of Agriculture – Market Failure
Types of market failure in agriculture
Volatile Prices in Agriculture
2. Low income for farmers
3. Environmental costs of intensive farming
4. Positive externalities of farming
5. Monopsony
Government intervention in agriculture
Problems of government intervention in agriculture
Related
Content: Food has a low-income elasticity of demand. As incomes rise, people don’t spend more on food. Also, technological advances can lead to falling prices rather than rising incomes. Many developed economies feel it is necessary to subsidise farmers to protect their incomes. For a developing economy, their current comparative advantage may lie in producing primary products. However, these may have a low-income elasticity of demand. With global growth, the demand for agricultural products doesn’t increase as much as manufacturing. Therefore, relying on agriculture can lead to lower rates of economic growth. 3. Environmental costs of intensive farming
Modern technology has enabled increased crop yields. | https://www.economicshelp.org/blog/4977/economics/problems-of-agriculture-market-failure/ |
msmarco_v2.1_doc_38_1568225807#6_3319105860 | Title: Problems of Agriculture - Market Failure - Economics Help
Headings: Problems of Agriculture – Market Failure
Problems of Agriculture – Market Failure
Types of market failure in agriculture
Volatile Prices in Agriculture
2. Low income for farmers
3. Environmental costs of intensive farming
4. Positive externalities of farming
5. Monopsony
Government intervention in agriculture
Problems of government intervention in agriculture
Related
Content: However, these may have a low-income elasticity of demand. With global growth, the demand for agricultural products doesn’t increase as much as manufacturing. Therefore, relying on agriculture can lead to lower rates of economic growth. 3. Environmental costs of intensive farming
Modern technology has enabled increased crop yields. However, this often requires chemical fertilizers which cause pollution. As farming becomes more competitive, there is a greater pressure to produce more leading to increased use of chemicals. However, artificial fertilizers have diminishing returns, so it becomes more expensive and greater environmental cost for little benefit. Many farming methods have led to deforestation and cutting down trees. This can upset the eco-balance making regions more susceptible to flooding. | https://www.economicshelp.org/blog/4977/economics/problems-of-agriculture-market-failure/ |
msmarco_v2.1_doc_38_1568225807#9_3319110637 | Title: Problems of Agriculture - Market Failure - Economics Help
Headings: Problems of Agriculture – Market Failure
Problems of Agriculture – Market Failure
Types of market failure in agriculture
Volatile Prices in Agriculture
2. Low income for farmers
3. Environmental costs of intensive farming
4. Positive externalities of farming
5. Monopsony
Government intervention in agriculture
Problems of government intervention in agriculture
Related
Content: This means farmers may see their profit margins squeezed by the big supermarkets who have substantial buying power. If farmers don’t sell to the big supermarkets they can’t sell their products; this is why it puts them in a difficult position. Government intervention in agriculture
Buffer stocks – to help stabilise prices though having minimum and maximum prices
Minimum prices – to guarantee farmers basic income by subsidising food prices. However, minimum prices may encourage oversupply and lead to wasted food production. Subsidies for farmers who follow more environmentally friendly methods. Tariffs on imports. This increases the domestic price of agricultural produce, but leads to lower trade. Problems of government intervention in agriculture
Cost of subsidising agriculture in the developed world It is estimated support to agricultural producers in advanced countries was $245 billion in 2000, five times total development assistance. In the members of OECD as a whole, a third of farm income came from government mandated support in 2000. ( | https://www.economicshelp.org/blog/4977/economics/problems-of-agriculture-market-failure/ |
msmarco_v2.1_doc_38_1568225807#10_3319112404 | Title: Problems of Agriculture - Market Failure - Economics Help
Headings: Problems of Agriculture – Market Failure
Problems of Agriculture – Market Failure
Types of market failure in agriculture
Volatile Prices in Agriculture
2. Low income for farmers
3. Environmental costs of intensive farming
4. Positive externalities of farming
5. Monopsony
Government intervention in agriculture
Problems of government intervention in agriculture
Related
Content: Subsidies for farmers who follow more environmentally friendly methods. Tariffs on imports. This increases the domestic price of agricultural produce, but leads to lower trade. Problems of government intervention in agriculture
Cost of subsidising agriculture in the developed world It is estimated support to agricultural producers in advanced countries was $245 billion in 2000, five times total development assistance. In the members of OECD as a whole, a third of farm income came from government mandated support in 2000. ( Martin Wolf, Financial Times, 21 November 2001) ( problems of Agriculture)
Subsidies have often been given to farmers with large amounts of land and with little incentive to follow more environmentally friendly procedures. Minimum prices have led to over-supply
Tariffs on agriculture have led to lower income for food exporters in the developing world and have been a big stumbling block to trade. Related
Problems of Common Agricultural Policy
Government intervention in agricultural markets
Photo: A field in the Cotswolds by Tejvan | https://www.economicshelp.org/blog/4977/economics/problems-of-agriculture-market-failure/ |
msmarco_v2.1_doc_38_1568240296#5_3319147347 | Title: Policies for Economic Development - Economics Help
Headings: Policies for Economic Development
Policies for Economic Development
Policies for Economic Development
Macroeconomic Stability
2. Less Restrictive Regulation and Tackle Corruption
3. Privatisation and De-regulation
4. Effective Tax Structure and Tax Collection
5. Investment in Public Services
6. Diversification away from agriculture
Role of IMF in Economic Development
World Bank and Economic Development
Other Issues in economic development
Related
Content: Less Restrictive Regulation and Tackle Corruption
Some developing countries are held back by over-restrictive regulation, corruption and high costs of doing business. To attract both domestic and inward investment, it is necessary to remove these costs and create a climate which is conducive to business. To tackle corruption may not be easy, but it is often one of the biggest constraints to economic development. Also, in the effort to reduce levels of regulation, it is important that useful regulations such as protection of the environment aren’t discarded in efforts to attract inward investment. Otherwise, economic growth may come at the expense of sustainable development. 3. Privatisation and De-regulation
An important aspect of China’s rapid economic development was the decision to move from a Communist economy to a mixed economy. Several state-owned industries were privatised. This gives firms a profit incentive to cut costs and aim for greater efficiency. De-regulation involves making state-owned monopolies face competition. | https://www.economicshelp.org/blog/4998/development/policies-for-economic-development/ |
msmarco_v2.1_doc_38_1568899161#3_3320851158 | Title: Criticism of Free Market Economics - Economics Help
Headings: Criticism of Free Market Economics
Criticism of Free Market Economics
Criticisms of free-market economics
Economists critical of free-market economics
Content: e.g. the US pays high admin costs for private health insurance. Instability of free markets. John Maynard Keynes argued capitalism has a tendency to boom and bust economic cycles – which leads to periods of mass unemployment. Hyman Minksy suggested that financial markets were inherently unstable due to forces of irrational exuberance. See: Financial instability. Over-production of negative externalities e.g. environmental pollution and congestion, which lower living standards. Over-consumption of demerit goods – goods where people may ignore or under-estimate costs, e.g. smoking, alcohol. Unsustainability. Free markets are concerned with the present moment but ignore implications for long-term ecological stability. | https://www.economicshelp.org/blog/glossary/criticism-free-market/ |
msmarco_v2.1_doc_38_1569077488#3_3321264768 | Title: Loss aversion - Economics Help
Headings: Loss aversion
Loss aversion
“losses loom larger than gains” (Kahneman & Tversky, 1979)
Loss aversion and prospect theory
Loss aversion and mental accounting
Loss aversion and marketing
Reasons for loss aversion
Scholarly studies on loss aversion
Related concepts
Content: However, if the software is not working and giving consistently high marginal costs – it is better to ditch. But, we have an aversion to writing off as a loss a significant project. Loss aversion and marketing
Free trial periods. Firms can take advantage of loss aversion through offering free trial periods. Once a consumer has the product, it becomes much more willing to give up something it has got used to. So for example, a supermarket may offer a free month trial for free delivery – when we get used to free delivery of groceries, we don’t want to give up so are willing to pay. Reasons for loss aversion
Attachment to objects/decision. If we own something, we can develop an attachment/relationship. If a family member gave us a statue worth £100, we might feel bad about selling – even if someone offered us £200. However, if we saw the exact same statue in the shop, we may not want to pay even £10. | https://www.economicshelp.org/blog/glossary/loss-aversion/ |
msmarco_v2.1_doc_38_1569077488#4_3321266235 | Title: Loss aversion - Economics Help
Headings: Loss aversion
Loss aversion
“losses loom larger than gains” (Kahneman & Tversky, 1979)
Loss aversion and prospect theory
Loss aversion and mental accounting
Loss aversion and marketing
Reasons for loss aversion
Scholarly studies on loss aversion
Related concepts
Content: So for example, a supermarket may offer a free month trial for free delivery – when we get used to free delivery of groceries, we don’t want to give up so are willing to pay. Reasons for loss aversion
Attachment to objects/decision. If we own something, we can develop an attachment/relationship. If a family member gave us a statue worth £100, we might feel bad about selling – even if someone offered us £200. However, if we saw the exact same statue in the shop, we may not want to pay even £10. It feels careless/bad luck. We don’t like losing because it feels like bad luck, carelessness. Image/reputational costs. If we lose, it may appear we are weak and it has a reputational cost. For example, if we invest in a project, but then give up because marginal cost is greater than marginal benefit – we may not be given another project. | https://www.economicshelp.org/blog/glossary/loss-aversion/ |
msmarco_v2.1_doc_38_1569099377#0_3321311628 | Title: Nudges - Economics Help
Headings: Nudges
Nudges
Examples of nudges
Examples of nudges
Commercial nudges
Evaluation of nudges
Nudge theory
Related pages
External links
Content: Nudges - Economics Help
Nudges
Nudge theory suggests consumer behaviour can be influenced by small suggestions and positive reinforcements. Proponents of nudge theory suggest that well-placed ‘nudges’ can reduce market failure, save the government money, encourage desirable actions and help increase the efficiency of resource use. Critics argue nudges can be misused and become a form of social engineering or way to encourage consumers to buy goods they don’t really need. With Richard Thaler being awarded the Nobel Prize in economics for his work on behavioural economics, nudges are likely to become increasingly common in everyday life. In the UK, the Behavioural Insights Unit was set up to use behavioural economics in order to improve choices. Their remit includes: making public services more cost-effective and easier for citizens to use; improving outcomes by introducing a more realistic model of human behaviour to policy, and wherever possible,
enabling people to make ‘better choices for themselves’. Behavioural Insights Unit
Examples of nudges
Up-sell. If you go to a fast-food restaurant, servers are trained to ‘up-sell’ – this means they offer extra options to go with the meal. | https://www.economicshelp.org/blog/glossary/nudges/ |
msmarco_v2.1_doc_38_1569099377#6_3321319672 | Title: Nudges - Economics Help
Headings: Nudges
Nudges
Examples of nudges
Examples of nudges
Commercial nudges
Evaluation of nudges
Nudge theory
Related pages
External links
Content: Would you be less willing to bu a muffin, if it is labelled as 450 calories? Use of technology. Technology can be left to make better decisions for us. For example, when the UK behavioural team tried to reduce energy use in heating homes through education, they had little effect. But, when they trialled the use of automated technology – it was much more successful. The Nest Learning Thermostat uses sensors and machine-learning to understand the thermal properties of your building and your occupancy habits. It led to a 6% fall in energy use. ( Blog, 30 Nov 2017)
Examples of nudges
Displaying social trust. One of the strongest nudges is to show feedback from peers. Positive reviews displayed prominently – play a significant role in encouraging people to buy. | https://www.economicshelp.org/blog/glossary/nudges/ |
msmarco_v2.1_doc_38_1569099377#7_3321320816 | Title: Nudges - Economics Help
Headings: Nudges
Nudges
Examples of nudges
Examples of nudges
Commercial nudges
Evaluation of nudges
Nudge theory
Related pages
External links
Content: The Nest Learning Thermostat uses sensors and machine-learning to understand the thermal properties of your building and your occupancy habits. It led to a 6% fall in energy use. ( Blog, 30 Nov 2017)
Examples of nudges
Displaying social trust. One of the strongest nudges is to show feedback from peers. Positive reviews displayed prominently – play a significant role in encouraging people to buy. Companies may display favourable reviews next to their product. The government may also show examples of people who have benefited from certain schemes (or show images of people caught and then named and shamed for tax evasion/benefits fraud.) Specific messages. To reduce missed hospital appointments, most hospitals send SMS text reminders on the day. Studies suggest that changing the words of the SMS can influence how successful these text messages are. | https://www.economicshelp.org/blog/glossary/nudges/ |
msmarco_v2.1_doc_38_1569254155#15_3321692583 | Title: Problems of Chinese Economic Growth - Economics Help
Headings: Problems of Chinese Economic Growth
Problems of Chinese Economic Growth
Chinese GDP
Problems of Chinese Economic Growth
1. Pollution
2. Shortage of Power
3. Growing Income Inequality
4. Property Boom
5. Inefficient Banking Sector
6. Unemployment
7. Undervaluation of Yuan
8. Overheating Economy.
9. Huge Balance of Payments Surplus
10. Demographic trends
Problems of Chinese economic growth for the rest of the world
Related
Content: The growth in Chinese manufactured goods industry has led to a relative decline in UK manufacturing. The government can always try to implement better supply-side policies to improve the productivity of industry, but, there is a limit to how much they can do. Governments may need to just accept the changing structure of the economy. We might be better focusing on the potential of service sector industries, such as education. Environmental Problems. A problem of Chinese growth is the increase in carbon emissions. Growth from China can easily dwarf any savings the UK make in global emissions. This raises the importance of creating global agreements to limit environmental pollution. Current Account deficit. The US and UK both have a large current account deficit with China. | https://www.economicshelp.org/essays/problems-chinese-economic-growth/ |
msmarco_v2.1_doc_38_1569261322#0_3321696574 | Title: Benefits of the Euro - Economics Help
Headings: Benefits of the Euro
Benefits of the Euro
1. Lower transaction costs
2. Price transparency
3. Eliminating exchange rate uncertainty
4. Improved trade
4. Improvement in inflation performance
5. Low-interest rates
6. Inward investment
7. Benefits to the financial sector
Related
Content: Benefits of the Euro - Economics Help
Benefits of the Euro
21 December 2019
28 September 2018 by Tejvan Pettinger
The Euro is the single European countries adopted by 18/28 EU countries. ( though not the UK). It is the second-largest reserve currency in the world after the US Dollar. Euro notes and coins came into circulation on January 1st, 2002. It was hoped that the Euro would confer many benefits on member countries. 1. Lower transaction costs
With a single currency, there will be no longer a cost involved in changing currencies; this will benefit tourists and firms who trade within the Euro area. It has been estimated that this benefit will be equal to 1% of GDP so will be quite significant. ( this is sometimes known as frictional costs) Some studies have suggested that the Euro has led to a 6% increase in tourism, (though many other factors may be at work.) | https://www.economicshelp.org/europe/benefits-euro/ |
msmarco_v2.1_doc_38_1569261322#1_3321697976 | Title: Benefits of the Euro - Economics Help
Headings: Benefits of the Euro
Benefits of the Euro
1. Lower transaction costs
2. Price transparency
3. Eliminating exchange rate uncertainty
4. Improved trade
4. Improvement in inflation performance
5. Low-interest rates
6. Inward investment
7. Benefits to the financial sector
Related
Content: 1. Lower transaction costs
With a single currency, there will be no longer a cost involved in changing currencies; this will benefit tourists and firms who trade within the Euro area. It has been estimated that this benefit will be equal to 1% of GDP so will be quite significant. ( this is sometimes known as frictional costs) Some studies have suggested that the Euro has led to a 6% increase in tourism, (though many other factors may be at work.) 2. Price transparency
With a common currency, it will be easier to compare prices in different European countries because they would all be in Euros. This enables firms to source cheaper raw material and consumers to buy cheaper goods, For example, arguably new car prices are higher in the UK than elsewhere, a single currency could help reduce these price differentials or make it easier for UK consumers to buy from the Eurozone. Within the Eurozone, there has been a degree of convergence in car prices since the Euro was introduced. 3. | https://www.economicshelp.org/europe/benefits-euro/ |
msmarco_v2.1_doc_38_1569261322#2_3321699494 | Title: Benefits of the Euro - Economics Help
Headings: Benefits of the Euro
Benefits of the Euro
1. Lower transaction costs
2. Price transparency
3. Eliminating exchange rate uncertainty
4. Improved trade
4. Improvement in inflation performance
5. Low-interest rates
6. Inward investment
7. Benefits to the financial sector
Related
Content: 2. Price transparency
With a common currency, it will be easier to compare prices in different European countries because they would all be in Euros. This enables firms to source cheaper raw material and consumers to buy cheaper goods, For example, arguably new car prices are higher in the UK than elsewhere, a single currency could help reduce these price differentials or make it easier for UK consumers to buy from the Eurozone. Within the Eurozone, there has been a degree of convergence in car prices since the Euro was introduced. 3. Eliminating exchange rate uncertainty
Volatile swings in the exchange rate can destroy the profitability of exports (e.g. a rapid appreciation). This exchange rate uncertainty undermines business confidence in investing. Therefore with a single currency business confidence should improve leading to greater trade and economic growth. 4. Improved trade
Supporters of the Euro argue that greater price and cost transparency/no exchange rates encourages intra Eurozone trade. | https://www.economicshelp.org/europe/benefits-euro/ |
msmarco_v2.1_doc_38_1569261322#3_3321701036 | Title: Benefits of the Euro - Economics Help
Headings: Benefits of the Euro
Benefits of the Euro
1. Lower transaction costs
2. Price transparency
3. Eliminating exchange rate uncertainty
4. Improved trade
4. Improvement in inflation performance
5. Low-interest rates
6. Inward investment
7. Benefits to the financial sector
Related
Content: Eliminating exchange rate uncertainty
Volatile swings in the exchange rate can destroy the profitability of exports (e.g. a rapid appreciation). This exchange rate uncertainty undermines business confidence in investing. Therefore with a single currency business confidence should improve leading to greater trade and economic growth. 4. Improved trade
Supporters of the Euro argue that greater price and cost transparency/no exchange rates encourages intra Eurozone trade. The ECB state exports and imports of goods within the euro area rose from about 27% of GDP in 1999 to around 32% in 2006
4. Improvement in inflation performance
The ECB which sets interest rates for the whole Eurozone area will be committed to keeping inflation low; countries with traditionally high inflation should benefit from this greater inflationary discipline. EU inflation has been low. However this point is debatable as countries outside the Euro have maintained low inflation, and arguably the ECB have concentrated too much on low inflation to the detriment of growth and unemployment. | https://www.economicshelp.org/europe/benefits-euro/ |
msmarco_v2.1_doc_38_1569261322#4_3321702638 | Title: Benefits of the Euro - Economics Help
Headings: Benefits of the Euro
Benefits of the Euro
1. Lower transaction costs
2. Price transparency
3. Eliminating exchange rate uncertainty
4. Improved trade
4. Improvement in inflation performance
5. Low-interest rates
6. Inward investment
7. Benefits to the financial sector
Related
Content: The ECB state exports and imports of goods within the euro area rose from about 27% of GDP in 1999 to around 32% in 2006
4. Improvement in inflation performance
The ECB which sets interest rates for the whole Eurozone area will be committed to keeping inflation low; countries with traditionally high inflation should benefit from this greater inflationary discipline. EU inflation has been low. However this point is debatable as countries outside the Euro have maintained low inflation, and arguably the ECB have concentrated too much on low inflation to the detriment of growth and unemployment. 5. Low-interest rates
It was hoped membership of the Euro would help reduce bond yields as there was greater security belonging to a stronger currency. Initially, this occurred with bond yields in Greece, Spain and Ireland converging on German bond yields. But the credit crisis of 2008-12, saw Euro bond yield rise to record levels, suggesting that the Euro could be very destabilising for interest rates. ( EU bond yields)
6. | https://www.economicshelp.org/europe/benefits-euro/ |
msmarco_v2.1_doc_38_1569261322#5_3321704194 | Title: Benefits of the Euro - Economics Help
Headings: Benefits of the Euro
Benefits of the Euro
1. Lower transaction costs
2. Price transparency
3. Eliminating exchange rate uncertainty
4. Improved trade
4. Improvement in inflation performance
5. Low-interest rates
6. Inward investment
7. Benefits to the financial sector
Related
Content: 5. Low-interest rates
It was hoped membership of the Euro would help reduce bond yields as there was greater security belonging to a stronger currency. Initially, this occurred with bond yields in Greece, Spain and Ireland converging on German bond yields. But the credit crisis of 2008-12, saw Euro bond yield rise to record levels, suggesting that the Euro could be very destabilising for interest rates. ( EU bond yields)
6. Inward investment
Inward investment may increase from outside the EU as firms take advantage of lower transaction costs within the EU area. Some firms have said they prefer to invest within the Eurozone area. 7. Benefits to the financial sector
The introduction of the Euro appears to have reduced the cost of trading in bonds, equity, and banking assets within the eurozone. 8. | https://www.economicshelp.org/europe/benefits-euro/ |
msmarco_v2.1_doc_38_1569261322#6_3321705530 | Title: Benefits of the Euro - Economics Help
Headings: Benefits of the Euro
Benefits of the Euro
1. Lower transaction costs
2. Price transparency
3. Eliminating exchange rate uncertainty
4. Improved trade
4. Improvement in inflation performance
5. Low-interest rates
6. Inward investment
7. Benefits to the financial sector
Related
Content: Inward investment
Inward investment may increase from outside the EU as firms take advantage of lower transaction costs within the EU area. Some firms have said they prefer to invest within the Eurozone area. 7. Benefits to the financial sector
The introduction of the Euro appears to have reduced the cost of trading in bonds, equity, and banking assets within the eurozone. 8. Protection for smaller countries against international financial crisis which often adverself affect small countries with limited reserves. Related
Benefits of the European Union
Should the UK join the Euro
Problems of the Euro | https://www.economicshelp.org/europe/benefits-euro/ |
msmarco_v2.1_doc_38_1569479794#1_3322287495 | Title: Arguments for nationalisation - Economics Help
Headings: Arguments for nationalisation
Arguments for nationalisation
Arguments for Nationalisation include
1. Natural Monopoly
2. Profit shared with taxpayer
2. Externalities
3. Welfare Issues
4. Industrial Relations
5. Government Investment
6. Free market failure
7. Saved banking system
Evaluation of benefits of nationalisation
Nationalisation vs Privatisation
Related pages
Content: This means the most efficient number of firms in the industry is one. This is because fixed costs are so high in creating a network of water pipes, there is no sense in having any competition. A private natural monopoly could easily exploit its monopoly power and set higher prices to consumers. Government ownership of a natural monopoly prevents this exploitation of monopoly power. If industry demand is 10,000 – then the most efficient number of firms is one. See more at: Natural Monopoly
2. Profit shared with taxpayer
If Virgin Trains set high ticket prices, you know the profit margin will go to a small number of wealthy shareholders. If the same service was run by a nationalised British Rail, any profit from profitable train services would go to government revenues and enable lower tax rates. 2. | https://www.economicshelp.org/macroeconomics/privatisation/nationalisation/ |
msmarco_v2.1_doc_38_1569479794#2_3322288963 | Title: Arguments for nationalisation - Economics Help
Headings: Arguments for nationalisation
Arguments for nationalisation
Arguments for Nationalisation include
1. Natural Monopoly
2. Profit shared with taxpayer
2. Externalities
3. Welfare Issues
4. Industrial Relations
5. Government Investment
6. Free market failure
7. Saved banking system
Evaluation of benefits of nationalisation
Nationalisation vs Privatisation
Related pages
Content: See more at: Natural Monopoly
2. Profit shared with taxpayer
If Virgin Trains set high ticket prices, you know the profit margin will go to a small number of wealthy shareholders. If the same service was run by a nationalised British Rail, any profit from profitable train services would go to government revenues and enable lower tax rates. 2. Externalities
Some of the nationalised industries had significant positive externalities. For example, public transport plays a key role in reducing pollution and congestion. A private firm would ignore the positive externalities, but a government run public transport system could invest in public transport to help improve the economic infrastructure. 3. Welfare Issues
Some industries play a key role in the welfare of consumers and citizens. | https://www.economicshelp.org/macroeconomics/privatisation/nationalisation/ |
msmarco_v2.1_doc_38_1569550008#0_3322461505 | Title: Specialisation and division of labour - Economics Help
Headings: Specialisation and division of labour
Specialisation and division of labour
Examples of specialisation and division of labour
Specialisation within economies
Problems of specialisation in production
Problems of specialisation in trade
Related
Content: Specialisation and division of labour - Economics Help
Specialisation and division of labour
22 December 2017
28 June 2017 by Tejvan Pettinger
Specialisation occurs when workers are assigned specific tasks within a production process. Workers will require less training to be an efficient worker. Therefore this will lead to an increase in labour productivity and firms will be able to benefit from economies of scale (lower average costs with increased output) and increased efficiency. workers specialising in a repetitive job. Examples of specialisation and division of labour
In the process of producing cars, there will be a high degree of labour specialisation. Some workers will design the cars
Some will work on testing cars
Some will work on marketing. Some workers will work on different sections of the assembly line. Their job may be highly specific such as putting on tyres e.t.c. Specialisation within economies
Specialisation can also mean that individual countries can produce certain goods that they are best at producing and then exchange them with other countries. The theory of comparative advantage states countries should specialise in producing those goods where they have a lower opportunity cost (relatively best at producing)
Specialisation requires trade. | https://www.economicshelp.org/microessays/as/specialisation-division-labour/ |
msmarco_v2.1_doc_38_1569550008#1_3322463323 | Title: Specialisation and division of labour - Economics Help
Headings: Specialisation and division of labour
Specialisation and division of labour
Examples of specialisation and division of labour
Specialisation within economies
Problems of specialisation in production
Problems of specialisation in trade
Related
Content: Some workers will design the cars
Some will work on testing cars
Some will work on marketing. Some workers will work on different sections of the assembly line. Their job may be highly specific such as putting on tyres e.t.c. Specialisation within economies
Specialisation can also mean that individual countries can produce certain goods that they are best at producing and then exchange them with other countries. The theory of comparative advantage states countries should specialise in producing those goods where they have a lower opportunity cost (relatively best at producing)
Specialisation requires trade. Specialisation and trade mean that countries that produce no oil can consume oil products and countries with large reserves of raw materials can export them in exchange for other goods that they need. This helps reduce the problem of scarcity in individual countries and enables countries PPF to shift outwards. If there is increased trade there will also be increased competition. This means that domestic monopolies will now face competition from abroad, therefore, they have increased incentives to cut prices and be efficient. Problems of specialisation in production
However, there are problems of specialisation. | https://www.economicshelp.org/microessays/as/specialisation-division-labour/ |
msmarco_v2.1_doc_38_1569550008#2_3322465090 | Title: Specialisation and division of labour - Economics Help
Headings: Specialisation and division of labour
Specialisation and division of labour
Examples of specialisation and division of labour
Specialisation within economies
Problems of specialisation in production
Problems of specialisation in trade
Related
Content: Specialisation and trade mean that countries that produce no oil can consume oil products and countries with large reserves of raw materials can export them in exchange for other goods that they need. This helps reduce the problem of scarcity in individual countries and enables countries PPF to shift outwards. If there is increased trade there will also be increased competition. This means that domestic monopolies will now face competition from abroad, therefore, they have increased incentives to cut prices and be efficient. Problems of specialisation in production
However, there are problems of specialisation. Firstly if workers do specific tasks, it may become boring and their productivity may fall as a result. High levels of specialisation could lead to possible diseconomies of scale. If an assembly line becomes highly specialised, production could be brought to a halt if there is a blockage in one area. It can be beneficial if there are more people specialised in different aspects. Problems of specialisation in trade
In terms of trade, poor countries may be encouraged to use up their non-renewable resources to sell to developing countries, therefore in the long term we could run out of non-renewable resources. | https://www.economicshelp.org/microessays/as/specialisation-division-labour/ |
msmarco_v2.1_doc_38_1569550008#3_3322466855 | Title: Specialisation and division of labour - Economics Help
Headings: Specialisation and division of labour
Specialisation and division of labour
Examples of specialisation and division of labour
Specialisation within economies
Problems of specialisation in production
Problems of specialisation in trade
Related
Content: Firstly if workers do specific tasks, it may become boring and their productivity may fall as a result. High levels of specialisation could lead to possible diseconomies of scale. If an assembly line becomes highly specialised, production could be brought to a halt if there is a blockage in one area. It can be beneficial if there are more people specialised in different aspects. Problems of specialisation in trade
In terms of trade, poor countries may be encouraged to use up their non-renewable resources to sell to developing countries, therefore in the long term we could run out of non-renewable resources. Over specialisation in one country can lead to countries becoming over dependent on one particular commodity, e.g. if a developing country specialises in the production of a primary product their income may be adversely effected by bad weather conditions. Some primary products have quite a low income elasticity of demand. Therefore, they don’t benefit as much from economic growth. Critics of free trade argue that with increased specialisation there will be intense competition to cut costs and therefore wages will have to fall. However, this point is not necessarily true because firms can compete by producing capital-intensive goods with better technology. | https://www.economicshelp.org/microessays/as/specialisation-division-labour/ |
msmarco_v2.1_doc_38_1569784469#5_3323076738 | Title: The oil market | Oil prices | Economics Online | Economics Online
Headings:
The oil market
Current oil price
The demand for oil
World’s major oil consumers
Major oil producers
US strategic oil reserves
Recent petrol prices
The effects of the global downturn
Oil prices and petrol pump prices
Energy production
Business Economics
Explaining The K-Shaped Economic Recovery from Covid-19
Does Public Choice Theory Affect Economic Output?
Largest Retail Bankruptcies Caused By 2020 Pandemic
Identifying Speculative Bubbles and Its Effect on Markets
Explaining The Disconnect Between The Economy and The Stock Market
Consumer Confidence Compared to Q2 Job Growth
Global Affairs
Alternatives to GDP in Measuring Countries
Multiplier Effect
Content: Rising fuel prices were largely responsible for upward pressure on the inflation rate in the second half of 2016. By the second quarter of 2018 pump prices had risen to just under 125p per litre, reflecting higher global oil prices. The strength of oil prices followed falling Venezuelan production, combined with strong global demand, and concerns over the impact of U.S. sanctions on Iran *. * According to CNN reports. Rising petrol prices reflect increases in crude oil prices. The main factors contributing to the general rise in crude oil prices over recent years are: Rising world demand, especially from China
Cost shocks, such as the War in Iraq and hurricane Katrina (2005)
The effects of the global downturn
However, during 2008 the price of a barrel of oil fell back from its record high. This was the result of the downturn in world demand for oil, especially from China, as the global recession began to spread. Oil prices and petrol pump prices
An increase or decrease in crude oil prices may not affect prices at the petrol pumps. There are a few reasons for this: | https://www.economicsonline.co.uk/Competitive_markets/The_market_for_oil.html |
msmarco_v2.1_doc_38_1569784469#6_3323078799 | Title: The oil market | Oil prices | Economics Online | Economics Online
Headings:
The oil market
Current oil price
The demand for oil
World’s major oil consumers
Major oil producers
US strategic oil reserves
Recent petrol prices
The effects of the global downturn
Oil prices and petrol pump prices
Energy production
Business Economics
Explaining The K-Shaped Economic Recovery from Covid-19
Does Public Choice Theory Affect Economic Output?
Largest Retail Bankruptcies Caused By 2020 Pandemic
Identifying Speculative Bubbles and Its Effect on Markets
Explaining The Disconnect Between The Economy and The Stock Market
Consumer Confidence Compared to Q2 Job Growth
Global Affairs
Alternatives to GDP in Measuring Countries
Multiplier Effect
Content: The main factors contributing to the general rise in crude oil prices over recent years are: Rising world demand, especially from China
Cost shocks, such as the War in Iraq and hurricane Katrina (2005)
The effects of the global downturn
However, during 2008 the price of a barrel of oil fell back from its record high. This was the result of the downturn in world demand for oil, especially from China, as the global recession began to spread. Oil prices and petrol pump prices
An increase or decrease in crude oil prices may not affect prices at the petrol pumps. There are a few reasons for this: There may already be existing stocks of petrol at the old prices. The cost of refined petroleum represents only around 22% of the retail price of petrol. ( Source: UK Petrol Industry Association, 2009)
In many countries, the retail market has become increasingly competitive in recent years. This is certainly true in the UK, with the entry of the large supermarket chains, such as Tesco and Sainsbury, into petrol retailing in the early 1990s. | https://www.economicsonline.co.uk/Competitive_markets/The_market_for_oil.html |
msmarco_v2.1_doc_38_1569939601#3_3323426551 | Title: Tariffs and quotas | Economics Online | Economics Online
Headings: Quotas and tariffs
Quotas and tariffs
Quotas and tariffs
Quotas
Imposing a quota
Go to: Extension task
Tariffs
The impact of tariffs
Higher prices
Welfare loss
Distortion
Retaliation
Business Economics
Explaining The K-Shaped Economic Recovery from Covid-19
Does Public Choice Theory Affect Economic Output?
Largest Retail Bankruptcies Caused By 2020 Pandemic
Identifying Speculative Bubbles and Its Effect on Markets
Explaining The Disconnect Between The Economy and The Stock Market
Consumer Confidence Compared to Q2 Job Growth
Global Affairs
Alternatives to GDP in Measuring Countries
Multiplier Effect
Content: Go to: Extension task
Tariffs
Tariffs, or customs duties, are taxes on imported products, usually in an ad valorem form, levied as a percentage increase on the price of the imported product. Tariffs are one of the oldest and most pervasive forms of protection and barrier to trade. The impact of tariffs
The imposition of tariffs leads to the following: Higher prices
Domestic consumers face higher prices, which also means that there is a loss of consumer surplus. However, there is a gain in domestic producer surplus as producers are protected from cheap imports, and receive a higher price than they would have without the tariff. However, it is likely that there is an overall net welfare loss. Without trade, the domestic price and quantity are P & Q.
If a country opens up to world supply, price falls to P1, and output increases from Q to Q2. As a result, domestic producers’ share falls to Q1 and imports now dominate, with the quantity imported Q1 to Q2. The imposition of a tariff shifts up the world supply curve to World Supply + Tariff. | https://www.economicsonline.co.uk/Global_economics/Tariffs_and_quotas.html |
msmarco_v2.1_doc_38_1570131144#0_3323912939 | Title: Nudge, nudge | The Economist
Headings: Nudge, nudge
Paternalism and the English language
Nudge, nudge
Content: Nudge, nudge | The Economist
Paternalism and the English language
Nudge, nudge
"Libertarian paternalism" is a linguistic atrocity that must die
American politics
Democracy in America
REVISITING a hot topic from the middle of last decade, David Brooks of the New York Times weighs in on a notional debate over so-called "libertarian paternalism", the idea that, in Mr Brooks' words, " [g]overnment doesn’t tell you what to do, but it gently biases the context so that you find it easier to do things you think are in your own self-interest". Mr Brooks then calls this debate for the "libertarian paternalists": [T]he anti-paternalists win the debate in theory but the libertarian paternalists win it empirically. In theory, it is possible that gentle nudges will turn into intrusive diktats and the nanny state will drain individual responsibility. But, in practice, it is hard to feel that my decision-making powers have been weakened because when I got my driver’s license enrolling in organ donation was the default option. It’s hard to feel that a cafeteria is insulting my liberty if it puts the healthy fruit in a prominent place and the unhealthy junk food in some faraway corner... The concrete benefits of these programs, which are empirically verifiable, should trump abstract theoretical objections. But there aren't any "anti-paternalist" objections to making organ donation the default or featuring healthy food in cafeterias, because these ideas have nothing to do with paternalism. I mean, what could organ donation possibly have to do with paternalism? How can the disposition of one's organs after one dies possibly redound to the welfare of one's corpse? This whole discussion is rife with this sort of conceptual and linguistic muddle. | https://www.economist.com/blogs/democracyinamerica/2013/08/paternalism-and-english-language |
msmarco_v2.1_doc_38_1570131144#1_3323915053 | Title: Nudge, nudge | The Economist
Headings: Nudge, nudge
Paternalism and the English language
Nudge, nudge
Content: It’s hard to feel that a cafeteria is insulting my liberty if it puts the healthy fruit in a prominent place and the unhealthy junk food in some faraway corner... The concrete benefits of these programs, which are empirically verifiable, should trump abstract theoretical objections. But there aren't any "anti-paternalist" objections to making organ donation the default or featuring healthy food in cafeterias, because these ideas have nothing to do with paternalism. I mean, what could organ donation possibly have to do with paternalism? How can the disposition of one's organs after one dies possibly redound to the welfare of one's corpse? This whole discussion is rife with this sort of conceptual and linguistic muddle. In "Nudge", the 2008 book by Cass Sunstein and Richard Thaler that brought the Orwellian terminology of "libertarian paternalism" to a popular audience, "libertarian" was used, sensibly enough, to mean "choice-preserving" and "paternalism" was used with such flagrant disregard of conventional meaning that it was made to include everything that might help anyone ever make a good decision. For example, in the "Nudge" scheme, signs on men's and women's restrooms would count as paternalistic "choice architecture" simply because they structure choices in a way that helps us do what's best by our own lights—in this case, not mortifying ourselves barging into the wrong restroom. But that's just muddle-headed. Helping others make good decisions by pointing them in the direction they want to go is called "being helpful", and has nothing to do with paternalism. Paternalism has to do with making people go in a direction they don't want to go. | https://www.economist.com/blogs/democracyinamerica/2013/08/paternalism-and-english-language |
msmarco_v2.1_doc_38_1570131144#2_3323917087 | Title: Nudge, nudge | The Economist
Headings: Nudge, nudge
Paternalism and the English language
Nudge, nudge
Content: In "Nudge", the 2008 book by Cass Sunstein and Richard Thaler that brought the Orwellian terminology of "libertarian paternalism" to a popular audience, "libertarian" was used, sensibly enough, to mean "choice-preserving" and "paternalism" was used with such flagrant disregard of conventional meaning that it was made to include everything that might help anyone ever make a good decision. For example, in the "Nudge" scheme, signs on men's and women's restrooms would count as paternalistic "choice architecture" simply because they structure choices in a way that helps us do what's best by our own lights—in this case, not mortifying ourselves barging into the wrong restroom. But that's just muddle-headed. Helping others make good decisions by pointing them in the direction they want to go is called "being helpful", and has nothing to do with paternalism. Paternalism has to do with making people go in a direction they don't want to go. The gist of paternalism is that it takes away choices other people think are bad for us to make. By definition, "choice-preserving" policy is not paternalistic policy. By definition, paternalistic policy is not libertarian. If "libertarian paternalism" is stipulated to be a programme of "choice-preserving decision architecture", to use Messrs Sunstein and Thaler's barbaric jargon, then "libertarian paternalism" is nothing but a profoundly confusing, completely superfluous synonym for anti-paternalism. In that case, there can be no debate between the "libertarian paternalist" and the anti-paternalist, and one side cannot win it "in theory", while the other side comes out ahead "empirically". | https://www.economist.com/blogs/democracyinamerica/2013/08/paternalism-and-english-language |
msmarco_v2.1_doc_38_1570131144#3_3323919100 | Title: Nudge, nudge | The Economist
Headings: Nudge, nudge
Paternalism and the English language
Nudge, nudge
Content: The gist of paternalism is that it takes away choices other people think are bad for us to make. By definition, "choice-preserving" policy is not paternalistic policy. By definition, paternalistic policy is not libertarian. If "libertarian paternalism" is stipulated to be a programme of "choice-preserving decision architecture", to use Messrs Sunstein and Thaler's barbaric jargon, then "libertarian paternalism" is nothing but a profoundly confusing, completely superfluous synonym for anti-paternalism. In that case, there can be no debate between the "libertarian paternalist" and the anti-paternalist, and one side cannot win it "in theory", while the other side comes out ahead "empirically". Mr Brooks is confused. The insidiousness of "libertarian paternalism" is not in the slippery slope from the non-coercive nudge to explicitly coercive limits on individual liberty. Rather, the problem is that, as a piece of language, "libertarian paternalism" renders difficult the ability to conceive of a principled distinction between policy that respects and policy that violates individual autonomy. But there is a distinction, and the ability to defend our liberty depends on maintaining it. There is nothing novel in the idea of policy that "gently biases the context so that you find it easier to do things you think are in your own self-interest". | https://www.economist.com/blogs/democracyinamerica/2013/08/paternalism-and-english-language |
msmarco_v2.1_doc_38_1570131144#4_3323920808 | Title: Nudge, nudge | The Economist
Headings: Nudge, nudge
Paternalism and the English language
Nudge, nudge
Content: Mr Brooks is confused. The insidiousness of "libertarian paternalism" is not in the slippery slope from the non-coercive nudge to explicitly coercive limits on individual liberty. Rather, the problem is that, as a piece of language, "libertarian paternalism" renders difficult the ability to conceive of a principled distinction between policy that respects and policy that violates individual autonomy. But there is a distinction, and the ability to defend our liberty depends on maintaining it. There is nothing novel in the idea of policy that "gently biases the context so that you find it easier to do things you think are in your own self-interest". It's an ancient and obviously worthwhile idea. Recent discoveries in behavioural psychology have taught us a little something about the mistakes to which we are prone, and those discoveries are well worth applying to the policies of governments, corporations, cafeterias and so on. By all means, move the fruit! By all means, default workers into retirement-saving plans that ratchet up in size over time! But nothing in these discoveries has any bearing whatsoever on the meaning of "paternalism" or "libertarian". | https://www.economist.com/blogs/democracyinamerica/2013/08/paternalism-and-english-language |
msmarco_v2.1_doc_38_1570131144#5_3323922322 | Title: Nudge, nudge | The Economist
Headings: Nudge, nudge
Paternalism and the English language
Nudge, nudge
Content: It's an ancient and obviously worthwhile idea. Recent discoveries in behavioural psychology have taught us a little something about the mistakes to which we are prone, and those discoveries are well worth applying to the policies of governments, corporations, cafeterias and so on. By all means, move the fruit! By all means, default workers into retirement-saving plans that ratchet up in size over time! But nothing in these discoveries has any bearing whatsoever on the meaning of "paternalism" or "libertarian". If the sensitivity of human decision-making to the vagaries of context calls into question the wisdom of leaving citizens free to make decisions about their own welfare, then that would suggest an argument against libertarianism and for paternalism. Go ahead. Make the argument against autonomy, if you think it's an argument worth making. But, for God's sake, leave the English language alone. (Photo credit: | https://www.economist.com/blogs/democracyinamerica/2013/08/paternalism-and-english-language |
msmarco_v2.1_doc_38_1570131144#6_3323923584 | Title: Nudge, nudge | The Economist
Headings: Nudge, nudge
Paternalism and the English language
Nudge, nudge
Content: If the sensitivity of human decision-making to the vagaries of context calls into question the wisdom of leaving citizens free to make decisions about their own welfare, then that would suggest an argument against libertarianism and for paternalism. Go ahead. Make the argument against autonomy, if you think it's an argument worth making. But, for God's sake, leave the English language alone. (Photo credit: AFP)
Reuse this content The Trust Project | https://www.economist.com/blogs/democracyinamerica/2013/08/paternalism-and-english-language |
msmarco_v2.1_doc_38_1570191576#7_3324049330 | Title: Japan's economy - About that debt | Free exchange | The Economist
Headings: About that debt
Japan's economy
About that debt
Content: As Paul Krugman has said, a loss of market confidence in Japan's fiscal situation would not necessarily be a bad thing; if capital outflows led to a lower yen and higher inflation, that would be a welcome outcome for the Bank of Japan. And a serious debt panic need not be a concern so long as markets have faith that Japan could address its fiscal issues when push comes to shove. Given the readiness with which Japan moved forward on the initial tax rise, despite rock-bottom interest rates, it stands to reason that any meaningful uptick in government borrowing costs would prompt further fiscal consolidation. So for now fiscal concerns ought clearly to be second fiddle to growth-boosting policies. And still another answer is that while Japan was once a very dirty shirt indeed, it is looking less dirty by the day. Among big bond issuers euro-area economies are moving up the league tables. Those euro-area economies do not have their own central bank, and the central bank they do have is not nearly as eager as the Bank of Japan is to buy government bonds. If liquid rich-world bonds are a scarce and precious resource, then the troubles within the euro zone are good news for Japan. And another sign that it ought to worry a bit less about its fiscal shortfalls. | https://www.economist.com/blogs/freeexchange/2014/11/japans-economy-0 |
msmarco_v2.1_doc_38_1570191576#8_3324050935 | Title: Japan's economy - About that debt | Free exchange | The Economist
Headings: About that debt
Japan's economy
About that debt
Content: And still another answer is that while Japan was once a very dirty shirt indeed, it is looking less dirty by the day. Among big bond issuers euro-area economies are moving up the league tables. Those euro-area economies do not have their own central bank, and the central bank they do have is not nearly as eager as the Bank of Japan is to buy government bonds. If liquid rich-world bonds are a scarce and precious resource, then the troubles within the euro zone are good news for Japan. And another sign that it ought to worry a bit less about its fiscal shortfalls. But let's also be clear about the nature of Japan's debt problem. Its ratio of gross government debt to GDP is over 240%, which sounds perfectly awful. But if one nets out the value of debt held by different branches of Japanese government, then the ratio falls to less than 140%. The Bank of Japan alone holds about 20% of outstanding Japanese government bonds and is buying more each year than the government, spendthrift that it is, can issue. And despite all that interest rates and inflation are as low as low can be. | https://www.economist.com/blogs/freeexchange/2014/11/japans-economy-0 |
msmarco_v2.1_doc_38_1570245205#0_3324160946 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: The Party of Davos is the biggest loser in Britain’s election | The Economist
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The country’s most powerful political alliance is heading for a deserved tumble
Britain Nov 14th 2019 edition
T HIS ELECTION is the most unpredictable in years. Tribal loyalties are weakening. Party chiefs are campaigning all over the map—Conservatives in Labour heartlands in the north and Labourites in Tory bastions in the south. The Liberal Democrats are a wild card. But one thing is certain in all this confusion. Whoever wins the election, the Party of Davos will lose. This is nothing less than a revolution in British politics. Listen to this story
Your browser does not support the <audio> element. Enjoy more audio and podcasts on iOS or Android. The Party of Davos refers to the 3,000 or so people who attend the World Economic Forum in Switzerland each year, and their more numerous ideological bag-carriers. ( | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#1_3324162442 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: Whoever wins the election, the Party of Davos will lose. This is nothing less than a revolution in British politics. Listen to this story
Your browser does not support the <audio> element. Enjoy more audio and podcasts on iOS or Android. The Party of Davos refers to the 3,000 or so people who attend the World Economic Forum in Switzerland each year, and their more numerous ideological bag-carriers. ( This columnist admits to attending the forum on several occasions and to carrying a good deal of ideological baggage.) Davosites are defined by their adamantine belief in economic and social liberalism and their position at the top of various global organisations. They support globalisation and multilateral institutions and disdain parochialism and nationalism. They idealise business and loathe nimbyism and restraints on trade. Michael Oakeshott, a philosopher, said that political rationalists place no value on the tried-and-true, and believe that “nothing is to be left standing for want of scrutiny”. | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#2_3324163967 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: This columnist admits to attending the forum on several occasions and to carrying a good deal of ideological baggage.) Davosites are defined by their adamantine belief in economic and social liberalism and their position at the top of various global organisations. They support globalisation and multilateral institutions and disdain parochialism and nationalism. They idealise business and loathe nimbyism and restraints on trade. Michael Oakeshott, a philosopher, said that political rationalists place no value on the tried-and-true, and believe that “nothing is to be left standing for want of scrutiny”. Davosites are rationalists par excellence. The Party of Davos achieved its greatest success in Britain from 1997 to 2016. Tony Blair and David Cameron may have worn different-coloured rosettes, but they were both paid-up members of the party. Ditto their various comrades-in-arms, such as George Osborne on the right, Peter Mandelson on the left and Nick Clegg in the middle. Under Mr Blair the Labour Party made its peace with Margaret Thatcher’s pro-business philosophy by fawning over businesspeople. | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#3_3324165596 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: Davosites are rationalists par excellence. The Party of Davos achieved its greatest success in Britain from 1997 to 2016. Tony Blair and David Cameron may have worn different-coloured rosettes, but they were both paid-up members of the party. Ditto their various comrades-in-arms, such as George Osborne on the right, Peter Mandelson on the left and Nick Clegg in the middle. Under Mr Blair the Labour Party made its peace with Margaret Thatcher’s pro-business philosophy by fawning over businesspeople. Under Mr Cameron the Conservatives made their peace with social liberalism by supporting gay marriage. The great purge of the Davosites started on the left, with Jeremy Corbyn’s election to the leadership of the Labour Party in 2015. Out went the likes of Mr Mandelson (who had once declared that “we are intensely relaxed about people becoming filthy rich”). In came hard-leftists who had learned their craft on picket lines rather than ski slopes. Mr Corbyn even advocated putting one of Davos’s heroes, Mr Blair, on trial for war crimes. | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#4_3324167168 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: Under Mr Cameron the Conservatives made their peace with social liberalism by supporting gay marriage. The great purge of the Davosites started on the left, with Jeremy Corbyn’s election to the leadership of the Labour Party in 2015. Out went the likes of Mr Mandelson (who had once declared that “we are intensely relaxed about people becoming filthy rich”). In came hard-leftists who had learned their craft on picket lines rather than ski slopes. Mr Corbyn even advocated putting one of Davos’s heroes, Mr Blair, on trial for war crimes. The purge spread to the Conservative Party this year with the election of Boris Johnson as leader, who expelled 21 senior Tories for disloyalty over Europe. Davosites such as Rupert Harrison, a protégé of Mr Osborne, have been weeded from the Conservative candidates list. The Davosites have made several ill-starred attempts to regroup. They briefly supported the idea of a “government of national unity”, only to see the idea fizzle. They invested high hopes in a second referendum, but the “people’s vote” movement collapsed in turmoil when Roland Rudd, the PR entrepreneur who helps to fund it, tried to sack two of its leaders and staff responded by walking out. | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#5_3324168934 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: The purge spread to the Conservative Party this year with the election of Boris Johnson as leader, who expelled 21 senior Tories for disloyalty over Europe. Davosites such as Rupert Harrison, a protégé of Mr Osborne, have been weeded from the Conservative candidates list. The Davosites have made several ill-starred attempts to regroup. They briefly supported the idea of a “government of national unity”, only to see the idea fizzle. They invested high hopes in a second referendum, but the “people’s vote” movement collapsed in turmoil when Roland Rudd, the PR entrepreneur who helps to fund it, tried to sack two of its leaders and staff responded by walking out. Exasperated Davosites are now backing the Lib Dems, but so far the polls are moving against them. There is no doubt that the Davosites deserve much of what has been hurled at them. They overpromised and underdelivered. Gordon Brown boasted that Britain had abolished the cycle of boom-and-bust under his leadership, only to see the global economy plunged into the worst financial crisis since the 1930s. Mr Blair championed the war in Iraq on the grounds that Saddam Hussein possessed weapons of mass destruction, and that toppling a dictator might bring democracy to the Middle East. | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#6_3324170724 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: Exasperated Davosites are now backing the Lib Dems, but so far the polls are moving against them. There is no doubt that the Davosites deserve much of what has been hurled at them. They overpromised and underdelivered. Gordon Brown boasted that Britain had abolished the cycle of boom-and-bust under his leadership, only to see the global economy plunged into the worst financial crisis since the 1930s. Mr Blair championed the war in Iraq on the grounds that Saddam Hussein possessed weapons of mass destruction, and that toppling a dictator might bring democracy to the Middle East. They engaged in a pattern of self-dealing that destroyed the bond of trust between the political elites and the masses. Since the financial crisis the likes of Messrs Blair and Osborne have grown “stinking rich” by selling their advice to global companies, while ordinary British workers have seen their wages stagnate. And they failed to learn the lessons of history. Too many Davosites think they need only make corporations a bit more woke and all will be forgiven. But even when all that is conceded, British politics is paying a heavy price for the collapse of the Party of Davos. | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#7_3324172407 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: They engaged in a pattern of self-dealing that destroyed the bond of trust between the political elites and the masses. Since the financial crisis the likes of Messrs Blair and Osborne have grown “stinking rich” by selling their advice to global companies, while ordinary British workers have seen their wages stagnate. And they failed to learn the lessons of history. Too many Davosites think they need only make corporations a bit more woke and all will be forgiven. But even when all that is conceded, British politics is paying a heavy price for the collapse of the Party of Davos. The average IQ of the political class is deteriorating. When Mr Clegg lost his seat in Sheffield Hallam in 2015, he was replaced by Jared O’Mara, a local bar owner who once called for Jamie Cullum, a jazz musician, to be “sodomised with his own piano”. The quality of governance is collapsing. Brexit has distracted attention from urgent problems such as the obesity epidemic and the dismal state of vocational education. The Davosites may have made a bad job of running the country, but the populists on both the left and the right look as if they are going to make an even worse one. | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#8_3324174106 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: The average IQ of the political class is deteriorating. When Mr Clegg lost his seat in Sheffield Hallam in 2015, he was replaced by Jared O’Mara, a local bar owner who once called for Jamie Cullum, a jazz musician, to be “sodomised with his own piano”. The quality of governance is collapsing. Brexit has distracted attention from urgent problems such as the obesity epidemic and the dismal state of vocational education. The Davosites may have made a bad job of running the country, but the populists on both the left and the right look as if they are going to make an even worse one. The long climb back
The Party of Davos needs to apply Oakeshott’s principle of scrutiny to itself if it is to have any chance of regaining its place at the summit of British politics. The Davosites must learn to see themselves as others see them. Appearing on the slopes to make the case for a second referendum, as Mr Rudd once did, or tweeting that Aspen is a great place to hold a discussion on refugees, like David Miliband, a Blairite ex-minister, guarantees political oblivion. They need to recognise that they are the beneficiaries of all sorts of hidden privileges. Davosites have relentlessly championed creative destruction without recognising that the costs of such policies fall disproportionately on people other than themselves. | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#9_3324175958 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: The long climb back
The Party of Davos needs to apply Oakeshott’s principle of scrutiny to itself if it is to have any chance of regaining its place at the summit of British politics. The Davosites must learn to see themselves as others see them. Appearing on the slopes to make the case for a second referendum, as Mr Rudd once did, or tweeting that Aspen is a great place to hold a discussion on refugees, like David Miliband, a Blairite ex-minister, guarantees political oblivion. They need to recognise that they are the beneficiaries of all sorts of hidden privileges. Davosites have relentlessly championed creative destruction without recognising that the costs of such policies fall disproportionately on people other than themselves. They need to see that they are on a hiding to nothing if they think they can win popular support by advocating a pure diet of economic and social liberalism. If anything, majorities want the opposite. This will require a lot of rethinking of lazy verities. Davosites need to think much harder about the importance of things like belonging, dignity and nationalism. It will also require a lot of self-policing. | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1570245205#10_3324177619 | Title: The Party of Davos is the biggest loser in Britain’s election | The Economist
Headings: The Party of Davos is the biggest loser in Britain’s election
Bagehot
The Party of Davos is the biggest loser in Britain’s election
The long climb back
Content: They need to see that they are on a hiding to nothing if they think they can win popular support by advocating a pure diet of economic and social liberalism. If anything, majorities want the opposite. This will require a lot of rethinking of lazy verities. Davosites need to think much harder about the importance of things like belonging, dignity and nationalism. It will also require a lot of self-policing. Davosites need to be as hard on self-dealing on their own side, particularly among company bosses who pay themselves ever more for mediocre performance, as they are on that of others. Unless the Party of Davos can reform itself, it will remain on the periphery of British politics—and rightly so. ■
Dig deeper: Our latest coverage of Britain’s election
This article appeared in the Britain section of the print edition under the headline "The Party of Davos"
Reuse this content The Trust Project | https://www.economist.com/britain/2019/11/16/the-party-of-davos-is-the-biggest-loser-in-britains-election |
msmarco_v2.1_doc_38_1574958987#7_3334375631 | Title: How Long Does it take to Earn an Electronics Engineering Technology Degree?
Headings: How Long Does it take to Earn an Electronics Engineering Technology Degree?
How Long Does it take to Earn an Electronics Engineering Technology Degree?
How Long Does It Take to Earn an EET Degree?
Meet Nkosa an ECPI University Online Graduate in Electronic Engineering Technology
How Long Do You Need to Dig Half a Hole?
How do Students Benefit from Accelerated Degrees?
Who Should Take an Accelerated Degree Program?
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Content: More than double your salary by spending a little money, some brainpower, and a mere 18 months advancing your education. The cost is far less than the gain. Who Should Take an Accelerated Degree Program? In grade school and high school, you knew the kids who did as little as possible. They may have been sociable, athletic, or artistic. They may have been wildly popular, but they did not put much effort into their work, nor did they drive themselves to learn more or do more. Those kids grew into adults who would not benefit from an accelerated degree program. If, however, you are internally driven to do more, be more, and learn more, an accelerated program is for you. If circumstances outside yourself — a new or growing family, the grim potential of layoffs in your current job, or fears of being replaced by a robot — drive you to get smarter, faster, then an accelerated program is for you. In short, if you rise above the rest, consider an accelerated degree program in electronics engineering technology. | https://www.ecpi.edu/blog/how-long-does-it-take-to-earn-an-electronics-engineering-technology-degree |
msmarco_v2.1_doc_38_1574958987#8_3334377834 | Title: How Long Does it take to Earn an Electronics Engineering Technology Degree?
Headings: How Long Does it take to Earn an Electronics Engineering Technology Degree?
How Long Does it take to Earn an Electronics Engineering Technology Degree?
How Long Does It Take to Earn an EET Degree?
Meet Nkosa an ECPI University Online Graduate in Electronic Engineering Technology
How Long Do You Need to Dig Half a Hole?
How do Students Benefit from Accelerated Degrees?
Who Should Take an Accelerated Degree Program?
Also on ECPI University
Information Systems Technology: Is this …
What Does Cyber Security Consist of …
Studying Software Development …
How does a Chef Use Chemistry?
How Difficult is a Master's Program in …
Why do Businesses Need Cloud …
Intelligence Analyst Degree: How Can …
Mechatronics Training Program: What Will I …
Start the discussion…
in this conversation
Weight:
Content: They may have been wildly popular, but they did not put much effort into their work, nor did they drive themselves to learn more or do more. Those kids grew into adults who would not benefit from an accelerated degree program. If, however, you are internally driven to do more, be more, and learn more, an accelerated program is for you. If circumstances outside yourself — a new or growing family, the grim potential of layoffs in your current job, or fears of being replaced by a robot — drive you to get smarter, faster, then an accelerated program is for you. In short, if you rise above the rest, consider an accelerated degree program in electronics engineering technology. At ECPI University, we could tell you that a piece of string is twice as long as half its length, or we could tell you all about our Bachelor of Science Degree in Electronics Engineering Technology. If you want more from your life, contact us today to learn how you can attend ECPI University and solve the riddle of finding a career you will love. It could be the Best Decision You Ever Make! DISCLAIMER – ECPI University makes no claim, warranty, or guarantee as to actual employability or earning potential to current, past or future students or graduates of any educational program we offer. The ECPI University website is published for informational purposes only. | https://www.ecpi.edu/blog/how-long-does-it-take-to-earn-an-electronics-engineering-technology-degree |
msmarco_v2.1_doc_38_1575930524#2_3337453931 | Title: Why Does Nursing Need Theory as Well as Practical Application?
Headings: Why Does Nursing Need Theory as Well as Practical Application?
Why Does Nursing Need Theory as Well as Practical Application?
Nursing Theory
Common Nursing Theories You Might Encounter
Importance of Nursing Theories
Importance of Nursing Theories in Practice
Bottom Line
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Weight:
Content: Nursing school will provide you with the foundation you need to care effectively for patients. Some of the typical courses you will take include: Anatomy
Chemistry
Microbiology
Psychology
Nutrition
Nursing theory and practice
Nursing Theory
Nursing theories are a set of predictive models that support nursing practice today. These theories are essential to nursing practice, scientific research and education because they help in determining what is known and any additional skills and knowledge that is needed. The incorporation of nursing theories in nursing education is important and will help you learn new nursing techniques, concepts of care, and strategies to use, how to diagnose diseases, and how to come up with a treatment plan, among other lessons. A good example is Pender’s nursing theory, which will help you understand that being healthy doesn’t mean the absence of disease. In this theory, you will learn your responsibility in promoting health and learn the patients’ role in promoting their own health and how you can educate them towards the same. You will first be exposed to nursing theories in nursing school and later hands-on training. The knowledge you will gain from the nursing theories through training will result to better outcomes for both patients and their caregivers, assist in decision-making, and allow the application of professional confines. Common Nursing Theories You Might Encounter
There are three main levels of nursing theory, which include: | https://www.ecpi.edu/blog/why-does-nursing-need-theory-as-well-as-practical-application |
msmarco_v2.1_doc_38_1575930524#5_3337460121 | Title: Why Does Nursing Need Theory as Well as Practical Application?
Headings: Why Does Nursing Need Theory as Well as Practical Application?
Why Does Nursing Need Theory as Well as Practical Application?
Nursing Theory
Common Nursing Theories You Might Encounter
Importance of Nursing Theories
Importance of Nursing Theories in Practice
Bottom Line
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Weight:
Content: One major contribution of the grand theories is the differentiation between the practice of medicine and nursing practice. Mid-range theories: Unlike grand theories, mid-range theories contain a much narrower set of ideas and variables that are testable. They can provide specificity that is needed in research and practice. They often focus on one topic of care and they begin with a concept analysis and develop a larger conceptual model. Importance of Nursing Theories
The nursing theory describes, predicts and explains the nursing phenomenon. Nursing theories help to distinguish what forms the basis of practice by describing nursing. A defined body of theory also results in better patient care, improved communication between nurses, and enhanced professional status. Care cannot be measured, and it is essential to have a theory that can evaluate and explain what nurses are expected to do. Nursing theories are the backbone of the nursing practice as they help to generate more knowledge and show the direction in which nursing should take in the future. | https://www.ecpi.edu/blog/why-does-nursing-need-theory-as-well-as-practical-application |
msmarco_v2.1_doc_38_1575930524#6_3337462161 | Title: Why Does Nursing Need Theory as Well as Practical Application?
Headings: Why Does Nursing Need Theory as Well as Practical Application?
Why Does Nursing Need Theory as Well as Practical Application?
Nursing Theory
Common Nursing Theories You Might Encounter
Importance of Nursing Theories
Importance of Nursing Theories in Practice
Bottom Line
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Weight:
Content: Importance of Nursing Theories
The nursing theory describes, predicts and explains the nursing phenomenon. Nursing theories help to distinguish what forms the basis of practice by describing nursing. A defined body of theory also results in better patient care, improved communication between nurses, and enhanced professional status. Care cannot be measured, and it is essential to have a theory that can evaluate and explain what nurses are expected to do. Nursing theories are the backbone of the nursing practice as they help to generate more knowledge and show the direction in which nursing should take in the future. Theories also help us to determine what we know and what we should know. Importance of Nursing Theories in Practice
Nursing theories help in the measurement of nursing care. They help in the assessment, involvement, and evaluation of care provided by nurses. They assist nurses to report, explain, and predict their everyday experiences. Nursing theories provide a basis for collecting valid and reliable data about the health status of patients. | https://www.ecpi.edu/blog/why-does-nursing-need-theory-as-well-as-practical-application |
msmarco_v2.1_doc_38_1575930524#7_3337464208 | Title: Why Does Nursing Need Theory as Well as Practical Application?
Headings: Why Does Nursing Need Theory as Well as Practical Application?
Why Does Nursing Need Theory as Well as Practical Application?
Nursing Theory
Common Nursing Theories You Might Encounter
Importance of Nursing Theories
Importance of Nursing Theories in Practice
Bottom Line
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Weight:
Content: Theories also help us to determine what we know and what we should know. Importance of Nursing Theories in Practice
Nursing theories help in the measurement of nursing care. They help in the assessment, involvement, and evaluation of care provided by nurses. They assist nurses to report, explain, and predict their everyday experiences. Nursing theories provide a basis for collecting valid and reliable data about the health status of patients. This data is important in decision-making and implementation. They help in building a common nursing terminology that can assist in communicating with other health professionals. Nursing theories enhance the autonomy of nursing by defining its independent functions. Bottom Line
Nearly all healthcare professionals, including nurses, are relying on nursing theories as their bedrock. For the day-to-day nursing practices on both small and large scale, from patient care to community health nursing. | https://www.ecpi.edu/blog/why-does-nursing-need-theory-as-well-as-practical-application |
msmarco_v2.1_doc_38_1575930524#8_3337466130 | Title: Why Does Nursing Need Theory as Well as Practical Application?
Headings: Why Does Nursing Need Theory as Well as Practical Application?
Why Does Nursing Need Theory as Well as Practical Application?
Nursing Theory
Common Nursing Theories You Might Encounter
Importance of Nursing Theories
Importance of Nursing Theories in Practice
Bottom Line
Also on ECPI University
Taking Online Classes While Pregnant: 10 …
Can You Become an RN in 2 Years? What …
What Does it Take to get a Good …
Data Analytics Degree Online: Getting …
Intelligence Analyst Degree: How Can …
Nursing Degree after 40: Are You Ready …
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Information Systems Technology: Is this …
Weight:
Content: This data is important in decision-making and implementation. They help in building a common nursing terminology that can assist in communicating with other health professionals. Nursing theories enhance the autonomy of nursing by defining its independent functions. Bottom Line
Nearly all healthcare professionals, including nurses, are relying on nursing theories as their bedrock. For the day-to-day nursing practices on both small and large scale, from patient care to community health nursing. According to a recent article, the effect of Magnet-recognized hospitals has made learning and the application of educational theories in nursing important to achieving positive outcomes in patient care. Are you considering becoming a nurse? If you want to earn an Associate of Applied Science Degree in Nursing, ECPI University offers this course at an accelerated rate. For more information about this exciting program, connect with a helpful admissions advisor today. It could be the Best Decision You Ever Make! | https://www.ecpi.edu/blog/why-does-nursing-need-theory-as-well-as-practical-application |
msmarco_v2.1_doc_38_1576127899#0_3337975859 | Title: Electronics Engineering Technology Degree | ECPI University
Headings: Electronics Engineering Overview
Electronics Engineering
Bachelor of Science in Electronics Engineering Technology
Electronics Engineering Overview
How ECPI University Teaches Hands-On Engineering Technology Skills Online!
Campus Locations:
International Locations
Content: Electronics Engineering Technology Degree | ECPI University
Electronics Engineering
Bachelor of Science in Electronics Engineering Technology
Overview
Electronics Engineering Overview
Electronic technology is intricately-woven into many sectors of industry which effects our daily lives. Every year, new and exciting communications in wired, wireless, and satellite services impact devices and machines which change the way people live, work, and play. It’s a dynamic environment that requires professionals to sustain its progress. Wired phone and Cable TV, cellular, Broadband, mobile internet and satellite tv are all impacted by electronic engineering technology. The investment in automated manufacturing also is changing the demands for a skilled workforce. Increasing demand for these services creates the need for technicians with skills to assist these growing sectors of the world economy. Engineering technologists play a critical role, serving as a nexus between engineers and technicians. From conception to design, development, testing, and production, they are essential to the production process. If you’re a critical thinker who enjoys putting things together and integrating multiple systems, then a degree in Electronics Engineering could be the beginning of your new career. ECPI University's Electronics Engineering Technology degree is a skills-based degree with hands on labs, simulations, and faculty with industry experience. | https://www.ecpi.edu/programs/electronics-engineering-bachelor-degree |
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