Comparison of planned and free market economies

Comparison of planned and free market economies Compare and contrast a planned economy with a free market economy. Discuss why in reality most economies are mixed economies. SYSTEM OF THE FREE MARKET ECONOMY The background of this economy is private ownership and individual economic freedom, i.e. the market of this economy operates only on the demand and offer basis, when buyers and sellers by themselves decide what and how to manufacture (Corsi, C. et al., 1997). This the main point of this system. Therefore this system is referred to as the system of the market-driven economy. According to Schotter, A. (1990), In the countries of free market economy, thousands of markets are available, these markets are interconnected by millions of interfaces. Under the conditions of such a complex economy, processes are appropriately controlled and regulated by prices. Changes in market conditions are reflected by changes in prices as the prices inform and encourage the market players to change their behavior (Cobin, M., 2009). In this way, they introduce an order in a chaos. One should not forget that, besides relationship between sellers and buyers and the price arising as the result of this relationship, there are several other market-driven economy elements. One of these elements is private ownership. According to Gianari, N. (1995), Private ownership is the ownership which is disposed by individual personalities and private companies; this is the prime right of the free business system which procures entities with freedom to own and use the products which have a value and to dispose them. Here we have in mind the right of people and business undertakings to be the owners of means of production. Though market elements are available both in custom and command economy, in these economies, fixed production assets (companies, undertakings, agricultural undertakings, mines, and etc.) are owned by communities, which means that they are considered as all peoples ownership (Greaves, B. 2005). The owners of these assets are the groups of people or governments. In the market-driven economy, means of production are owned by private entities ownership is private, whereas resources are distributed by the market in accordance with the laws of demand and offer. Under the conditions of this economic system, each individual may be engaged in any activity he desires provided that he has assets and that demand is available. However, individuals may be forced to terminate their activities if they are short of money. There is a lot of competing with each other entities in the community of capitalism; these entities compete to receive profit, whereas the price level should secure sufficient profit (Przeworski, A., 2001). Private ownership encourages people to use their ownership so that it would bring profit. Profit receiving aspiration encourages businessmen to manufacture products which are on demand and to sell them at the price acceptable to buyers. The profit motive encourages businessmen to manufacture products under cost-effective conditions so that businessmen would be able (Kearns, P., 2007): To increase profit, which means to increase the difference between production costs and the sale price; To sell products at a price lower than the price of competitors. Rao, P. (1998) noticed, that choosing specific products or services in the market, the consumers makes the manufacturers to decide which products are to be manufactured in larger quantities and which in smaller quantities, which products will be on demand and which products will not be on demand. Manufactures which correctly interpret the choices of buyers and which supply products necessary to buyers may have profit. Those manufacturers who do take into accounts these factors manufacture too large quantities or too small quantities or set too high or too low price and therefore do not have profit. The latter often have losses. In the market-driven economy, the votes of consumers may determine the existence or bankruptcy of business. SYSTEM OF THE PLANNED ECONOMY Under the conditions of the planned economy, all decisions concerning what to manufacture, how to manufacture and to whom to manufacture are approved by the sole centre or group (Smith, A., 1983). This economy is based on collective ownership. Fixed production assets are owned by the government, and resources, production and the quantities of future products are distributed according to a plan. The type of the system of the command economy was prevailing in the USSR, Cuba, and North Korea. According to Jozef M. van Brabant (1991), the plans of the system of the centralized economy are drawn up and implemented by the authorities and governmental political leaders after consulting with highly ranked professionals: engineers, economists, industrialists, and other experts. These planners decide which products to manufacture and which services to render. Their vote is decisive in approving decisions whether new undertakings are to be constructed, how many employees are to be employed at u ndertakings, whether modern equipment and advanced technology is to be applied at undertakings. The same planners, on the request of the political authorities of the country, decide who will consume the products manufactured and services, establish the amount of remuneration for everybody as well as the profit and interest rates. When trying to process all information which is necessary to coordinate the activities of a large number of entities in the sole centre, unsolvable problems arise in the system of the command economy. Therefore, in the former USSR and in the closely related Warsaw Treaty countries: Eastern Germany, Bulgaria, Czechoslovakia, Poland, Rumania and Hungary, a large number of market elements was available along with the command management (Bosworth, B. (1995). Quite large differences between socialistic countries depended on the portion of assets owned by governments and the rigidity of planning of usage of resources. If the number of products which are on demand amongst people who want to buy them does not coincide with the number of the products offered, the problem of mechanisms which would be capable of forming the equilibrium arises (McEachern, W., 2008). In the country of the market-driven economy, an individual manufacturer who wants to receive optimal profit regularly by itself tries to modify the quantity, quality and price of the products manufactured. It turned out that the system of the planned economy was hardly capable of being flexible and susceptible to changes. Virtually, it is impossible to change official prices. In addition to this, it turned out that it is very difficult to change the offer planned between the undertakings themselves as well as between companies and consumers. At long last, the desire to obtain acceptable quality at an acceptable price was seldom satisfied. Thus, here, the market incentive is replaced by the commands of authorities. Therefore, here, it is difficult to change the price of products, to satisfy the needs of consumers to develop the growth of the economy at a fast pace. According to McEachern, W. (2008), this was caused not only by the problems arisen in the cause of attempts to process such a large amount of information necessary to balance all the branches of economy in the centralized way but also for the reason that the deficit of products often satisfied the economic interests of a large number of distributers better than trade in the balanced market. SYSTEM OF THE MIXED ECONOMY One hardly may find the pure system or the system of the free market market-driven economy in the modern world. Though it is declared that the major economic decisions in the country are dictated by the market, the role of the government in the procedure of adopting these decisions is increasing (Ikeda, S., 1996). For example, 50 years ago the USA government acquired 15 per cent of the total number of products manufactured and the services rendered in America, whereas for the being time this figure already amounts to 20 per cent. Due to this combination of market forces and participation of the government, the economy of America and a large number of other democratic countries is referred to as the mixed economy. The economy of countries which were included in the composition of the former USSR and which were under the influence of the former USSR now also is referred to as mixed one (Ikeda, S., 1996).. The economy of countries of the modern world constitutes the combination of market-driven and governmental economies. Baumol, W. and Blinder, A. (2008) think that, in such countries as USA, the UK, France, Germany, Japan, and many other countries, the mixed capitalistic system is applicable. Thus, in the mixed economy, economic freedom prevails. However, some decisions are adopted by groups, very often by governments. Conclusion COMPARISON OF ECONOMIC SYSTEMS According to Baumol, W. and Blinder, A. (2008), difference between the free market (capitalistic) system and the command economic system is mostly manifested by the role of the government and the model of ownership to the means of production. In the market-driven economy, production exists for the benefit of an individual, whereas, in the planned economy, an individual exists for the benefit of production. As we know, under the conditions of the command economy, companies, agriculture, shops, and other production resources were owned by the government and major economic problems were solved by the governmental planning authorities. Thus, in the countries of centralized planning, the key role is performed by the government. The situation is radically different under the market-driven conditions: these problems are solved by buyers and sellers and the fixed production assets are owned by the right of ownership. In this economic model, the government performs a conditionally small role. The combination of the market-driven (capitalistic) economy and the command economy is the mixed economy (Baumol, W. and Blinder, A., (2008). Both the theory of economics and world experience proved that the most effective is such a mixed economic system in which market relationship elements rather than command relationship elements prevail as both the USSR and other countries of the command economy regularly experienced the deficit of some or another products and did not cope with too slow increase in the efficiency of agriculture and other business activities. Though the mixed economy is more efficient if market relationship elements prevail, the latter elements also have some drawbacks.

Harper Lees To Kill A Mockingbird Essay example -- Harper Lee Kill Mo

Harper Lee's To Kill A Mockingbird In the novel by Harper Lee named, To Kill a Mockingbird, there is one main tragic event that occurs. The feelings and expressions dealt with in the novel are seen through the eyes of the main character, named Scout. In the novel Tom Robinson is a black male accused of rape in Maycomb County. During the same time period as the novel there were many historical events that were almost identical in setting and conclusion. There were many things that happened leading up to the court case that foreshadowed Tom Robinson’s inability to be found innocent of the charges. The Scottsboro case and the case in the novel are similar in many ways, especially in that they ruined the lives of blacks over false accusations. An event that was very much similar in nature to the novel was the Scottsboro trials. The Scottsboro trials involved nine young black males who were charged with the rape of two white females on a train. The black boys on the train got into a fight with some white males, which was the beginning of their worst nightmare. The two women on the train that made the accusations saw an opportunity to stage a rape claim. The two women in the Scottsboro case were from poor families living in African-American communities. In the 1920's and 1930s it was not common for white families to live in black communities. Even though there were a few that lived in the black communities, they were not thought highly of. The two women's names were Victoria Price and Ruby Bates. During the court case, â€Å"Another witness claimed that he had let Price use a room for prostitution and that she turned down a white man once because it was ‘Negro night’" (Greatest). Ruby Bates’ situation was not much bet... ...onvicted of a crime that he didn’t commit, which eventually led to his death. The town of Maycomb committed a sin, by killing a mockingbird. Works Cited: "The Greatest Trials of All Time." The Scottsboro Boys. 1998. Court TV Online. 13 Feb. 2002. <http://www.courttv.com/greatesttrials/scottsboro/players.html>. Johnson, Claudia Durst. Understanding To Kill A Mockingbird. 1994. Think Quest. 13 Feb 2002. < http://library.thinkquest.org/12111/scottsboro/rubybate.htm>. Linder, Doug. ""The Scottsboro Boys" Trials ." Biographies. 2002. . . <http://www.law.umkc.edu/faculty/projects/FTrials/scottsboro/SB_biog.html>. Lee, Harper. To Kill a Mockingbird. New York: Time Warner, 1982. "Scottsboro An American Tragedy." People & Events. 2000. PBS <http://www.pbs.org/wgbh/amex/scottsboro/peopleevents/index.html>.

Globe Telecom Paper Essay

Corporate History Globe Telecom has firmly imbibed itself into the hearts and minds of more than twenty six million subscribers. It has been there in every way for its customers, in building relationships, at work, communicating and reaching out. Inasmuch as Filipinos love to communicate, Globe has been a reliable partner, ready to provide the most convenient and affordable service as possible. For 83 years, Globe has lived up to its reputation of innovation leader – from the moment it introduced the first SMS or text messaging service in the country, and today’s introduction of the first personalized postpaid plans. Globe has been a pioneer in many ways; each new beginning is a testament of its commitment to serving its customers better. In 1928, Congress passed Act No. 3495 granting the Robert Dollar Company, a corporation organized and existing under the laws of the State of California, a franchise to operate wireless long distance message services in the Philippines. Subsequently, Congress passed Act No. 4150 in 1934 to transfer the franchise and privileges of the Robert Dollar Company to Globe Wireless Limited which was incorporated in the Philippines on 15 January 1935. Globe Wireless Limited was later renamed as Globe-Mackay Cable and Radio Corporation (â€Å"Globe-Mackay†). Through Republic Act (â€Å"RA†) 4630 enacted in 1965 by Congress, its franchise was further expanded to allow it to operate international communications systems. Globe-Mackay was granted a new franchise in 1980 by Batasan Pambansa under Batas Pambansa 95. In 1974, Globe-Mackay sold 60% of its stock to Ayala Corporation, local investors and its employees. It offered its shares to the public on 11 August 1975. In 1992, Globe-Mackay merged with Clavecilla Radio Corporation, a domestic telecommunications pioneer, to form GMCR, Inc. (â€Å"GMCR†). The merger gave GMCR the capability to provide all forms of telecommunications to address the international and domestic requirements of its customers. GMCR was subsequently renamed Globe Telecom, Inc. (â€Å"Globe†). Fast Forward It was a monumental partnership in 1993, with then President Fidel V. Ramos as witness to the signing of a Memorandum of Understanding between Ayala Corporation and Singapore Telecom, Inc. (STI), wholly-owned subsidiary of Singapore Telecommunications Limited (SingTel), was formalized, that created a formidable Globe Telecom. During the year, Globe Telecom was catapulted to the status of a giant in the telecommunications industry, and awarded an initial US $30 million supply contract. Since then, Globe Telecom has revolutionized the way Filipinos connect and communicate with the launch of the Globe Handy phone, the country’s first fully digital CMTS (Cellular Mobile Telephone System) using the GSM (Global Systems for Mobile) communications network. It obtained its provisional authority (PA) for International Gateway Facility (IGF) operations and rolled out its fixed telephone service and international direct dial (IDD) services in designated areas. Within a couple of years, Gl obe launched its G-Net service in 1995 to become the first Philippine telecoms carrier to offer internet access. Thereafter, Globe went into acquisition (Islacom) and interconnection agreements with other telecom carriers to boost its network and services. In 2000, Globe joined C2C Cable Network, a fiber-optic submarine cable project in the Asia Pacific region. The following year, Globe inaugurated its first cable landing station and backhaul facility in Nasugbu, Batangas. By 2004, Globe launched the GCASH, a breakthrough in mobile commerce and e payments. In 2009, Globe inaugurated its second landing station in Ballesteros, Cagayan. It also reinforced its best network connectivity with the TGN-Intra Asia Cable System and the first in the country to launch worldwide interoperability for Microwave Access (WiMAX). A breakthrough in mobile and landline service for postpaid subscribers in Metro Manila and Cebu called DUO was introduced. This was later on offered to small and medium enterprise (SME) clients, fulfilling the need for additional business lines at a cheaper cost. Globe also introduced the BlackBerry ® lifestyle to the Philippine market with the BlackBerry ® Storm, powered by Globe Personal BlackBerry ® Plans. Globe was granted the preferential selling rights to the iPhone 3G and iPhone 3GS. This partnership with Appleâ„ ¢ was reinforced in 2010 with the launch of the iPhone 4. Globe Telecom and Visa were recognized as the first two founding partners of the Mobile Money Exchange at the GSMA Annual Mobile Money Summit in Barcelona. Globe Data Center achieved an ISO 27001:2005 certification for having met the Information Security Management System (ISMS) standard. It also received an ISO 9001:2008 certification upgrade for meeting the Quality Management System standard. Boosting its network further, Globe participated in the new Southeast Asia Japan Cable (SJC) System, the highest capacity system in the world that links Singapore, Hong Kong, Indonesia, Philippines and Japan. The company achieved another first by having its Globe Carrier Ethernet offerings certified by the Metro Ethernet Forum (MEF) according to MEF 9 service-provider specifications. Globe also rolled out its second fiber optic backbone network (FOBN2), a high capacity transmission system that spans over 1,900 kilometers of inland and submarine cable, covering most areas of Luzon, Visayas, and Mindanao. Overview Globe Telecom, Inc. is a major provider of telecommunications services in the Philippines, supported by over 5,700 employees and over 786,000 retailers, distributors, suppliers, and business partners nationwide. The Company operates one of the largest and most technologically-advanced mobile, fixed line and broadband networks in the country, providing reliable, superior communications services to individual customers, small and medium-sized businesses, and corporate and enterprise clients. Globe currently has over 29 million mobile subscribers, over 1,363,000 broadband customers, and over 666,000 landline subscribers. Globe is also one of the largest and most profitable companies in the country, and has been consistently recognized both locally and internationally for its corporate governance practices. It is listed on the Philippine Stock Exchange under the ticker symbol GLO and had a market capitalization of US$2.7 billion as of the end of September 2011. The Company’s principal shareholders are Ayala Corporation and Singapore Telecom, both industry leaders in their respective countries. Aside from providing financial support, this partnership has created various synergies and has enabled the sharing of best practices in the areas of purchasing, technical operations, and marketing, among others. Globe is committed to being a responsible corporate citizen. Globe BridgeCom, the company’s umbrella corporate social responsibility program, leads and supports various initiatives that (1) promote education and raise the level of computer literacy in the country, (2) support entrepreneurship and micro-enterprise development particularly in the countryside, and (3) ensures sustainable development through protection of the environment and excellence in operations. Since its inception in 2003, Globe BridgeCom has made a positive impact on the lives of thousands of public elementary and high school students, teachers, community leaders, and micro-entrepreneurs throughout the country. For its efforts, Globe BridgeCom has been recognized and conferred several awards and citations by various Philippine and international organizations. The Globe Group is composed of the following companies: †¢ Globe Telecom, Inc. (Globe) provides mobile telecommunications services; †¢ Innove Communications Inc. (Innove), a wholly-owned subsidiary, provides fixed line telecommunications and broadband services, high-speed internet and private data networks for enterprise clients, services for internal applications, internet protocol based solutions and multimedia content delivery; †¢ G-Xchange, Inc. (GXI), a wholly-owned subsidiary, provides mobile commerce services under the GCash brand; †¢ Entertainment Gateway Group Corp. and EGGstreme (Hong Kong) Limited (EHL) (collectively referred here as EGG Group), provide digital media content and applications; and †¢ GTI Business Holdings, Inc. (GTI), a wholly-owned subsidiary, is an investment company with authority to provide VOIP services. The Company is a grantee of various authorizations and licenses from the National Telecommunications Commission (NTC) as follows: (1) license to offer and operate facsimile, other traditional voice and data services and domestic line service using Very Small Aperture Terminal (VSAT) technology; (2) license for inter-exchange services; and (3) Certificate of Public Convenience and Necessity (CPCN) for: (a) international digital gateway facility (IGF) in Metro Manila, (b) nationwide digital cellular mobile telephone system under the GSM standard (CMTS-GSM), (c) nationwide local exchange carrier (LEC) services after being granted a provisional authority in June 2005, and (d) international cable landing stations located in Nasugbu, Batangas and Ballesteros, Cagayan. Globe is organized along three key customer facing units (CFUs) tasked to focus on the integrated mobile and fixed line needs of specific market segments. The Company has a Consumer CFU with dedicated marketing and sales groups to address the needs of retail customers, and a Business CFU (Globe Business) focused on the needs of big and small businesses. Globe Business provides end-to-end mobile and fixed line solutions and is equipped with its own technical and customer relationship teams to serve the requirements of its client base. Beginning 2011, Globe organized an International Business Group to serve the voice and roaming needs of overseas Filipinos, whether transient or permanent. It also allows the Company to leverage product portfolio on regional and global opportunities. Business Segments Mobile Business Globe provides digital mobile communication services nationwide using a fully digital network based on the Global System for Mobile Communication (GSM) technology. It provides voice, data and value-added services to its mobile subscribers through three major brands: Globe Postpaid, Globe Prepaid and TM. Globe Postpaid includes all postpaid plans such as regular G-Plans, consumable G-Flex Plans, Load Allowance Plans, Load Tipid, Apple TM iPhone 3G plans and high-end Platinum Plans. In 2010, the Company further expanded its postpaid offerings to include MY SUPERPLAN and MY FULLY LOADED PLAN which allow subscribers to personalize their plans, choose and combine various unlimited call, text and web browsing service options. In addition to these personalized plans, Globe has made available various add-on roaming and mobile browsing plans to cater to the needs of its subscribers. In 2011, Globe consolidated its personalized and customizable plan service with the launch of the All New My Super Plan where subscribers are given the flexibility to create their own plans by either subscribing to an All-Unlimited Plan or an All-Consumable Plan. Subscribers also get the chance to design their plans based on their usage by selecting the freebies and add-on services that would come with their subscriptions. To further enhance their experience, subscribers are allowed to change the freebies and add-on services monthly. Globe Prepaid and TM are the prepaid brands of Globe. Globe Prepaid is targeted towards the adult, mainstream market. Its unique brand proposition revolves around its innovative product and service offerings, superior customer service, and Globe’s â€Å"world widest† services and global network reach. TM, on the other hand, caters to the value-conscious segment of the market. In addition to digital wireless communications, Globe also offers mobile payments and remittance services under the GCash brand. GCash is an internationally acclaimed micro payment service that transforms a mobile phone into a virtual wallet, enabling secure, fast, and convenient money transfers at the speed and cost of a text message. Since the launch of GCash, wholly-owned subsidiary GXI has established a wide network of local and international partners that includes government agencies, utility companies, cooperatives, insurance companies, remittance companies, universities, and commercial estab lishments which all accept GCash as a means of payment for products and services. Globe offers various top-up or reloading options and facilities for prepaid subscribers including prepaid call and text cards, bank channels such as ATMs, credit cards, and through internet banking. Subscribers can also top-up at over 786,000 AutoLoad Max retailers nationwide, all at affordable denominations and increments. A consumer-to-consumer top-up facility, Share-A-Load, is also available to enable subscribers to share prepaid load credits via SMS. Globe’s AutoLoad Max and Share-A-Load services are also available in selected OFW hubs all over the world. The Company has a loyalty and rewards program called My Rewards, My Globe for Globe Prepaid subscribers and TM Astig Rewards for TM subscribers. Under the program, and based on a defined scoring system, prepaid subscribers earn points based on tenure and reload. Subscribers can use their points to redeem rewards including Globe and TM products, travel mileage, and gift certificates from leading retail establishments. Globe Postpaid subscribers outside the lock-up period can also earn points based on their monthly billed amounts and length of stay with Globe. Rewards also include Globe products, as well as bill rebates, gadgets, gift certificates, and travel mileage. Subscribers have the option to redeem rewards instantly, or accumulate points to avail of higher-value rewards. Redeemed points in a form of telecom services is netted out against revenues whereas points redeemed in the form of non-telco services such as gift certificates and other products are reflected as marketing expense. At the end of each period, Globe estimates and records the amount of probable future liability for unredeemed points.

Should College Tuition Be Paid - 1687 Words

Tyra Wilson Professor Jill Erwin English 102 2 December 2015 Being Able to Afford College Throughout all of high school, and especially during their senior year, the only thing students seem to hear about is college. They have to attend tours, fill out application after application and decide what school will be best for them as a person and their career path. But what most people seem to stress over more than anything else is being able to actually pay for college. College tuition is high in price and increases every year, making it almost impossible for students to graduate without extreme debt. There are scholarships, financial aid, and loans to help out those who cannot afford to pay high tuition prices, but these loans are not desirable as they lead to this debt immediately after graduating. There is the help of financial aid, which is based off the parent’s income unless you are 23 and over, but financial aid can be difficult to obtain as there many requirements a student must fall under. Scholarships are another viable way to get financial help but it can be extremely difficult to find ones that you qualify for, especially without the help of an advisor or school counselor. Therefore, financial aid and must become more accessible to students so that future generations are not graduating with overwhelming student debt made worse by their interest rates. If we could minimize the fear of student debt then more of our youth would be pursing their degrees of interest.Show MoreRelatedShould College Tuition Be Paid?884 Words   |  4 PagesIn America college tuition has quadrupled in the last 35 years. College administrators like to tell the story that baby boomers paid their college tuition from the money they made during summer break. 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College professors are not the reason that college cost so much; in addition to, the money also goes towards sport teams, scholarships, and construction