The relationship between board diversity and firm performance

The relationship between board diversity and firm performance The Research Questions In the course of their research on the Demographic Diversity in the Boardroom, Miller and Triana sought to answers the questions bothering on the relationship between board diversity and firm performance using mediating variables reputation and innovation and how board diversity impact firm performance using mediating variables of innovation and reputation. Theoretical Framework Underpinning the Study There are two theories underpinning the study and these are: the Behavioural Theory and the Signaling Theory (Miller and Triana 2009). The behavioural theory as proposed by Cyert and March (cited in Miller and Triana, 2009) suggests that there is a direct correlation between the availability and use of information in a decision-making process and innovation in a groups decision. In other words, the more the information available, the better the decision making process will be which leads to creativity. Arthurs, Busenitz, Hoskisson and Johnson (2008) view signaling as a way of bringing to notice the innate worth or value of a firm and that any signal must be noticeable and hard to emulate or replicate. The Signaling Theory posits that firms use visible signals to gain reputation and status among the public (Miller and Triana 2009: 756). Methodology In testing their hypotheses, Miller and Triana presented three sets of variables: independent variables, dependent variables and control variables. The independent variables which were board diversity, innovation and firm reputation were investigated using Blaus index (1977) of heterogeneity, Research and development expenses as proxies and 2004 Fortune Corporate Reputation Survey accordingly. The dependent variable; Firm Performance was measured using and Return on investment and Return on sales and finally, Control variables which as key components were vital to the research and they were firm age, liquidity, size, product and international diversification. The research explored the empirical link between these variables and four hundred and thirty two Fortune 500 firms which were selected in investigating innovation as mediating factor between board diversity and firm performance and also three hundred and twenty six Fortune 1000 firms which were selected to investigate reputation as mediating factor between board diversity and firm performance. The result from the test of the various hypotheses was then analysed using the Least Squares (OLS) Regression (pg 768). The methods of research were disputable and therefore open to further research due to two noticeable reasons. First, the inconsistency and ambiguity in the selected year of assessment. The research explored the empirical linkage of board diversity, reputation, innovation, and performance (pg 765) but did not specify a year or period of assessment for which they gathered their data. Example, sample of firms selected were for year 2003, measurement of board diversity was for year 2002, measurement of innovation using research and development expenses were for year 2003, measurement of reputation were for 2003 and finally firm performance is measured in 2005, lagged two years to allow time for mediating effects of reputation and innovation to occur (pg 767). The effect of this inconsistency is that it would be difficult to know the accuracy of result arrived at. Rather it would have been a lot of easier if the various data gathered were being assessed for a period of time e.g. data betw een years 2002 and 2005 to ensure uniformity in the assessment. Secondly the sample of Fortune 500 firms chosen were because these firms represent leaders in their industryà ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦.had external reports listing the race of board members as a way of validating data (pg 765) but no mention was made on a report of gender of board members. Result The answer to question bothering on the relationship between board diversity and firm performance using mediating variables reputation and innovation was striking as the authors were of the opinion that increasing diversity on the board leads to more varied ideas, perspectives and networks (Miller and Triana 2009:764). In other words, in a multitude of opinions as a result of diversity, cogent and innovative ideas usually emanate. This view is supported by Hillman, Cannella and Harris (2001) where they reasoned that each director is unique and different and when all their skills and proficiencies are put together, various ideas spring forth which could enhance firms performance. However, Adams and Ferreira (2008:305) argue that the more dissimilar directors are, the more they could disagree and the more conflict there could be on the board which could eventually impede firms performance. The result for the question on how board diversity impact firm performance using mediating variables: innovation and reputation proved arguable as the authors posits having a gender and racially diverse board signals that the firm is well positioned to meet the needs of a diverse market (Miller and Triana 2009: 762) but from the test of their hypotheses, it was discovered that there was no correlation between gender diversity and reputation (pg 775). This could have been as a result of the method of research which could have led to a biased opinion. Dalton and Dalton (2010) observed that there has been a lot of criticism and reservation due to the presence and achievement of women on Fortune 500 boards. This shows that generally the opinion that women can hold positions of top management is still not been accepted by multitudes. However, Krishnan and Park (2004) argued that the presence of women as leaders is usually appreciated in an environment that calls for a lot public relations and that they are able to break grounds in an otherwise impossible situation due the emotional side of their personality which results in them working with a lot of passion. Conclusion The research was interesting as it provided the first empirical analysis of the correlation between boardroom diversity and firm performance using innovation and reputation as mediators. However, the research involved the use of secondary data i.e. data collected by someone else and most likely be subject to sample limitations (Anonymous 2008). This could infer that data collected were collated originally for a different purpose and therefore be biased. Also the research highlights that diversity using mediating factors innovation and reputation has benefits as Cox and Blake (1991:45) reasoned that a well managed, diverse workforce (board) holds potential competitive advantages for organizations but for it to be fruitful and effective, it comes with a price and firms have to be able to look at their structures and be guided in their cultural needs; either gender or racial and be able to discern between what is needful or unnecessary as Slater, Weigand and Zwirlein (2008) argued that achieving productive diversity is not easy and that diversity if not managed properly usually leads to a high level of turnover. Therefore, based on all the information gathered and analysis carried out, would it be ideal to say that board diversity positively impacts firm performance?

Republic Act Essay

SECTION II: POLICY It is the policy of the state, consistent with the Constitution to promote the general welfare, to safeguard the interest of the in and out of school youth and the entire young populace. For this purpose, the government shall institute a balance policy whereby the use of technology such as internet cafà ©Ã¢â‚¬â„¢s videogame shops and the likes, be regulated in order to promote education and preserve the culture of Filipinos and at the same time ensure that the interest of business and stakeholder are not adversely compromised. SECTION III: PURPOSE It is the main thrust of this Act to: A. Prevent minors especially the student from hanging out at some Internet cafà ©s and videogame shop/centers and other related establishments thereby promoting the sphere of education; B. Prevent the youth from excessively playing videogames thereby shielding them from becoming video game addict which cause the commission of crime by reason of desperation for money to feed their habit; C. Protect the minor for being the object of sexual exploration by paedophiles, foreign or local; SECTION IV: DEFINITION OF TERMS As used in this Act, the following shall mean: A.PERSON- refers to an individual, partnership, corporation or any other business or legal entity; B.MINOR- refers to a person below 18 years old. C.INTERNET- refers to the worldwide system of computer networks in which a user at any computer can directly get information from any other computer in the network. D.INTERNET CAFÉ- a place of business that has a number of networked personal computers with access to the internet for surfing, chatting, e-mailing and research this is available for use by customers for fee by the hour of fraction of an hour. The business establishment may or may not be serving coffee, and/or similar beverages. Also included are cyber cafà ©, arcades, and lounges. E.COMPUTER RENTAL SHOP- refers to a business establishment with two (2) or more computer units that offers internet service, typing, printing services and gaming shop center. F.COMPUTER GAMING SHOP OR CENTER- refers to a establishment with two or more computers connected on a local area network that exclusively offers either online games (connected to the internet) or LAN games (not connected to the internet). G.SCHOOL DAYS- refers to the regular working days of the week, Monday to Friday exclusive legal and special holidays. SECTION V: PHOHIBITED ACTS The owner/proprietor/manager/attendant of internet cafà ©Ã¢â‚¬â„¢s or computer rental shops/computer gaming shop or center shall be strictly prohibited from admitting or allowing minors, during school hours and school days to: a) Enter into such establishment, b) Use the computer facilities in such establishments. It shall not be a defence for the owner, proprietor, manage, partner and attendant that he/she did not know or was not aware of the real of the minor. Neither shall it be a defence that he/she did not know nor any reason to believe that the minor is the one using the computer is an instance accompanied by an adult. If said establishment is owned by partnership or corporation, the managing partner, or the president of the corporation shall be jointly held criminally liable as conspirator with the person admitting or allowing such a minor. SECTION VI: AUTHORIZED RESEARCH/ACTIVITY FOR EDUCATIONAL PURPOSES A. Any establishment mentioned above allowing minor to enter said establishment during school days for purposes of research shall not be covered by this Act, provide that the minor shall carry a school identification and clearance or permit signed by the principal or teacher in charge concerned to be presented to said establishment otherwise admission refusal is a must. B. For minors belongs to the out-of school youth or those who does not have school identification, they may enter and use the computer facilities provide it is not within or during school hours and with the written approval from from their parents. SECTION VII: PRESUMPTION OF ADMISSION Unless proven otherwise, minors found inside such establishments is prima facie proof that the owner, management, partner, attendant has consented or permitted entry thereof. SECTION VIII: DUTIES AND RESPONSIBILITIES OF OWNERSHIP, PROPRIETOR, MANAGEMENT OF INTERNET CAFES OR COMPUTER RENTAL SHOP/COMPUTER GAMING SHOP CENTER Owners, proprietor/management and attendants of internet cafes or computer rental shop/computer gaming shop are required to perform and undertake the following measure in their operation: a. Ensure strictly that no person below majority age enters the said establishment during school days and school hours; b. Ensure strictly that no person below majority age uses a computer in the said establishment during school days and school hours; c. Permanently post a signage outside and inside the establishment showing the following statement in a clear and conspicuous manner: OFF-LIMITS TO MINORS. SECTION IX: POOF OF AGE VERIFICATION In case of doubt as to the age of the client/costumer, the owner, manager or attendants shall verify, by means of any valid form of photographic identification containing the date of birth of the bearer otherwise refuse admission so as to ensure that no person below the age of majority enters the said establishment. SECTION X: REGULAR INSPECTION and POLICE VISIBILITY Philippine National Police in the locality shall conduct regular inspection and police visibility in the above mention establishment during their business hours to ensure compliance with this Act and make a semi-annual written report to the DSWD and NYC in the area. SECTION XI: PENALTIES The following are the penalties for the violation of any provision of this Act: a) For 1st offense- a fine of P50,000 for violation of any of the provision of this Act; b) For 2nd offense- fine of P100,000 and/or revocation of business permit and licence to operate, and closure of the establishment or both at the discretion of the court. SECTION XII: IMPLEMENTING RULES AND REGULATION The DSWD in coordination with the National Youth Commission shall formulate the necessary implementing rules and regulations for the efficient implementation of this Act. SECTION XII: SEPARABILITY CLAUSE Should any section or provision of this Act be declared as unconstitutional or invalid, other provisions which are not affected thereby shall continue to be in full force and effect.

Censorship in Todayrs World - Free Essay Example

Sample details Pages: 9 Words: 2786 Downloads: 6 Date added: 2019/06/24 Category Society Essay Level High school Tags: Censorship Essay Did you like this example? In Ray Bradburyrs Fahrenheit 451, the society in which people live is full of censorship. He writes about a how all books are burned because the people decided that knowledge brings pain. In the first hard-cover edition for the book, Neil Gaiman wrote the Introduction (xi) in which he commented that Fahrenheit 451 should be taken as a warning and reminder that freedom of speech needs to be valued and not taken granted. Don’t waste time! Our writers will create an original "Censorship in Todayrs World" essay for you Create order Censorship is a tool used today by governments across the world to control or stop people who say or write anything that challenges the governmentrs assumptions. Freedom of speech allows people to speak openly and have their thoughts and opinions heard without fearing punishment by others who do not agree. The Founding Fathers of the United States of America felt so strongly about this issue that they made freedom of speech the first of the Amendments to the Constitution. In Ray Bradburyrs Fahrenheit 451, and in the world today, censorship works on the perception that some ideas are dangerous and must be stopped; however, the ideal is to have the decision left to the individual and not the government. To begin, there are different ways to ban books or online content. Most governments have a review process that controls what books people read or what online content they access. In an article written in Censorship.Laws.com, censorship in America is defined as the act of altering, adjusting, editing, or banning of any or all media resulting from the presumption that its content is perceived to be objectionable, incendiary, illicit, or immoral by the Federal Government of the United States. In AZ Quotes.com, it is noted that Thomas Jefferson said the following: Censorship represents a tyranny over the mind and is harmful wherever it occurs. People can experience censorship in various areas of life; for example, politics, religion, the internet, and the news to name a few. The freedom to read is necessary to the way of life in free countries; however, this freedom is being attacked. Private groups and public authorities throughout the world are working to remove certain books from publ ic schools while also trying to silence magazines and newspapers when the government feels the information is not in support of their ideology. When people are prevented from reading materials it prevents those with inquiring minds from seeking the truth, stretching their mental stimulation, and becoming critical thinkers. In ThoughtCo.com, an article was written on August 4, 2018 about how schools can bypass lengthy procedures for banning books by simply electing not to buy questionable books in the first place. The article further stated that because of witchcraft themes in two Harry Potter books by J.K. Rowling, an elementary school in Florida elected not to stock these books. It was noted that the Principal explained they did not buy these books because they expected complaints if the children read these books. The article cites that Mark Twainrs Adventures of Huckleberry Finn is fourth on the list of 50 books banned in the United States because of the use of the use of a racial slur (N-word). The other 49 books banned in the United States are posted in The New York Times. The First Amendment provides some degree of protection for academic freedom, which is an essential element of a democratic society. For example, in 1957 in Sweezy v. New Hampshire, the Court declared: The essentiality of freedom in the community of American universities is almost self-evident. No one should underestimate the vital role in a democracy that is played by those who guide and train our youth. To impose any strait jacket upon the intellectual leaders in our colleges and universities would imperil the future of our Nation. Teachers and students must always remain free to inqui re, to study and to evaluate, to gain new maturity and understanding; otherwise, our civilization will stagnate and die. In an article written in the Foundation for Individual Rights in Education (FIRE) in June 2016, it stated that colleges and universities needed to be protected by the First Amendment to allow teachers the academic freedom to address their students questions, the study of materials and sources, and teaching. It further stated that there needed to be meaningful discussions between teachers and students without the government discouraging or stopping them. In another article written by The New York Times on October 1, 2018 it was reported that since 2014 the government of Kuwait has banned over 4,000 books. This action resulted in its citizens organizing demonstrations to show their displeasure with their government. It seems that even encyclopedias and childrenrs books are not exempt from being targeted for censorship. An encyclopedia with a picture of Michelangelors David and a Disney version of The Little Mermaid were banned because David had no fig leaf to cover his body, and the mermaid wore half a bikini. This was considered promiscuous. In an article written by the British Broadcasting Corporation (BBC) on September 24, 2018 it was reported that China shut down thousands of websites and online accounts citing the online material was spreading improper values, vulgarity or obscenity and the government felt this type of information was considered harmful for the people In Bradburyrs Fahrenheit 451 (79), Faber explained to Montag t hat books like the Bible were important because they had quality, texture, pores and features. Faber further explained that the more pores a book has, the more truthfully recorded details of life can get on paper and that would make people literary. Montag explains to Montag that is the reason why books are hated and feared. Next, some governments try to drive peoplers thoughts and beliefs and prevent free press. In an article written in The Huffington Post on April 25, 2017, it was cited that North Korea is one of the most heavily censored countries in the world. North Korears leader, Kim Jong Un has complete control in of the information that is communicated to the public. The media in this country is owned solely by the government and the official Central Korean News Agency conveys the opinions of the government. In the U.S. Department of Staters website, it notes there are no independent media in North Korea and no deviation from the official government line is tolerated. The government does not allow any editorial freedom and all stories are centrally directed and reviewed to ensure that they are in line with the governmentrs ideology. The government also controls its citizens academic and cultural content and takes steps to block radio broadcasts outside of North Korea. The government also modifies television and radio equipment to prevent users from accessing foreign material and other material the government deems illegal. The North Korean government imposes harsh punishments for anyone accused of accessing uncensored information or sharing news from countries that it considers its enemies. In an article in Radio Free Asia dated March 16, 2014 it reports that the North Korean government wants its citizens to be blind and does not want its citizens to be offered alternative knowledge to the narrative the government has given them. Their goal is not to inform, but to indoctrinate and control common people, to explain to them what they should think about the world. In Bradburyrs Fahrenheit 451 (80), Faber tells Montag that the television is real, and messages rush in quickly with their conclusions that people do not have time to protest. A CNN article dated December 29, 2016 reported that news rarely leaks from North Koreas authoritarian state; however, stories of Kims brutal executions have sometimes filtered out over the past five years. It was cited that Kim Jong Un came to power in 2011 and since then he has ordered 340 people be executed to tighten his hold on power. North Korea is strictly controlled by the state to the point where citizens are unable or nearly unable to get a hold on books or other forms of art produced outside the country. This is because the North Korean government does not want its citizens to be offered alternative knowledge to the account the government has given them. In Bradburyrs Fahrenheit 451 (102), Captain Beatty quotes Alexander Pope: A little learning is a dangerous thing. Drink deep or taste not the Pierian spring; There shallow draughts intoxicate the brain and drinking largely sobers us again. What this means is that when people begin to learn, they become thirsty for more information and become more aware in the process to challenge what is being said to them. The North Korean government is like the government in Fahrenheit 451 because both governments do not want to expose its citizens to information that contradicts their ideology. Lastly, the news has reported over the years that journalists have been suppressed, kidnapped, and at times murdered, for reporting stories that were not complimentary about their government. Thomas Jefferson was quoted as saying Our liberty depends on the freedom of press, and that cannot be limited without being lost. Most recently a journalist for The Washington Post was murdered for speaking out against the Saudi government while a CNN journalistrs White House press pass was taken from him because he asked questions that the President of the United States deemed inappropriate. President Trump has gone as far as labeling the news media as fake news and the enemy of the American people. As a result of the White House taking away a CNN journalistrs press pass, CNN filed a lawsuit against the Trump Administration citing the White Housers action violated CNN and their journalistrs First Amendment rights of freedom of the press, and their Fifth Amendment rights to due process. CNN felt that if this action was left unchallenged it could negatively affect other journalists who cover elected officials. Protect Democracy and The Yale Law School Media Freedom of Information and Access Clinic also filed a lawsuit on behalf of PEN America (a leading organization of writers and literary professionals) against President Trump for violating the First Amendment rights of journalists by using government powers to punish the speech of his media critics. PEN alleges that President Trump has used, or threatened to use, the regulatory and enforcement powers of government to punish the speech of journalists in at least four ways: initiating a government review to raise postal rates; directing DOJ enforcement actions; interfering with White House press access; and threatening to revoke broadcast licenses. In the end, the CNN journalistrs press pass was restored; however, the White House threatened to establish rules of conduct for journalist. In Bradburyrs Fahrenheit 451 (58), Captain Beatty tells Montag: If you dont want a man unhappy politically, dont give him two sides to a question to worry him; give him one. Better yet, give him none. Let him forget there is such a thing as war. He further says: Cram them full of non-combustible data, chock them so damned full of ?facts they feel stuffed, but absolutely ?brilliant with information. Ray Bradbury wrote Fahrenheit 451 during the McCarthy era, during which thousands of Americans were investigated for having Communist sympathies. Like the story line in Fahrenheit 451, neighbors and coworkers were encouraged to report on each other, and nothing more than a suspicion was often enough to begin an investigation. People were encouraged to testify against one another and the accused experienced loss of work, career loss and some even killed themselves. Bradbury vehemently denied that he was satirically commenting on McCarthy or government censorship. Instead, Bradbury insisted the book was written at the beginning of the television age and was a tale to warn society of how they could well reach to television as a sort of drug. Fahrenheit 451, Bradbury said, was a depiction of a society willfully dumbing itself down by staring at screens, stuffing its collective consciousness with useless factoids, empty ideas and throwaway reality. Bradburyrs thoughts were several decades before todayrs reality TV and celebrity driven media. Bradbury wrote about a future where technology drove people to block themselves from the world around them, disconnected from each other, and no longer valued books. Today you cannot go anywhere without observing people engrossed on their iPhones and not interacting with others or texting a person who is sitting across from or next to them. It is troubling that today there are television commercials having to remind parents to engage with their children by reading, talking and singing to them from a very early age to better prepare their kids for school. The commercial shows a parent engrossed on her cell phone and ignoring her child. Fahrenheit 451 argues in favor of literature and critical thinking and against censorship and blind conformity. In Fahrenheit 451 (168), it was noted that from a young age Bradbury was affected by accounts of the burning of the ancient library at Alexandria and the loss of many classical works that we now know only by title or through fragments of surviving parchment. Based on todayrs society, Bradburyrs prediction of a world without actual books is not too far off. Government budget cuts result in less support for public libraries and online books now replace actual books you can touch. Bradbury experienced opposition since Fahrenheit 451 was published in 1953, which is kind of funny that a book about banned books experienced censorship. In the ThoughtCo.com article written on August 4, 2018, it noted that one of Bradburyrs plays was sent to a university to be produced; however, the university had a co ncern that there were no female characters in the play. The university did not state any issues with the content of the play or the fact that there was a reason it featured only men. The play was not produced and was in effect censored because it did not want to offend a certain group at the school: women. In closing, censorship has been around for a long time and was a thought that preceded the United States Constitution; hence, the First Amendment. Censorship silences peoplers opinions, ideas and forces moral and ethical values on society. Some people believe censorship is a violation of their First Amendment right and others believe censorship is needed to protect peoplers well-being in a world filled with violence and abusive behavior. All media needs to have checks and balances to ensure the information being published is accurate so that people, and not the government, can choose to be exposed to the appropriate awareness of society, and the world in general, as it really exists and not like the dystopian world of Fahrenheit 451. Works Cited Bradbury, Ray. Fahrenheit 451. New York: Simon Schuster, 1951, pp. xi, 55, 58, 79, 80, 102, 168. Print. Bradbury Still Believes in the Heat of Fahrenheit 451. Seattle Times, March 12, 1993. https://community.seattletimes.nwsource.com/archive/?date=19930312slug=1689996 Chervokas, Jason, and Tom Watson. 50 Most Frequently Banned Books. New York Times, August 22, 1997. https://archive.nytimes.com/www.nytimes.com/library/cyber/nation/082297nation-list.html China shuts down 4,000 websites in purge on improper values. British Broadcasting Corporation, 24 September 2018. https://www.bbc.com/news/technology-45625278 CNN Files Suit Against Trump Administration. CNN, November 13, 2018. https://cnnpressroom.blogs.cnn.com/2018/11/13/cnn-files-suit-against-the-trump-administration/ Jerreat, Jessica. North Korean Censorship. Huffington Post, 04-25-2017. https://www.huffingtonpost.com/entry/north-korean-censorship_us_58fe78afe4b086ce58981445 Kelly, Melissa. Censorship and Book Banning in America. ThoughtCo, Aug. 4, 2018, https://www.thoughtco.com/censorship-and-book-banning-in-america-6414 Kwon, K. J., and Ben Westcott. Jong Un has Executed Over 300 People Since Coming to Power. CNN, December 29, 2016. https://www.cnn.com/2016/12/29/asia/kim-jong-un-executions/index.html Lankov, Andrei. North Korean Censorship Blinds Not Just the People, But Also Their Rulers. Radio Free Asia, 2016-03-14 https://www.rfa.org/english/commentaries/censorship-03142016145646.html Miller, Vanessa. 59 Years of Commemorating Academic Freedom: The Legacy of ?Sweezy v. New Hampshire. Foundation for Individual Rights in Education (FIRE), June 17, 2016. https://www.thefire.org/59-years-of-commemorating-academic-freedom-the-legacy-of-sweezy-v-new-hampshire/ Nordland, Rod. From Orwell to ?Little Mermaid, Kuwait Steps Up Book Banning. New York Times, October 1, 2018. https://www.nytimes.com/2018/10/01/world/middleeast/kuwait-ban-books.html PEN America Sues President Trump for Violating Journalists First Amendment Rights. National Coalition Against Censorship. October 16, 2018. https://ncac.org/news/pen-america-sues-president-trump-for-violating-journalists-first-amendment-rights Review of Fahrenheit 451 by Ray Bradbury. Rhapsody in Books, May 20, 2009. https://rhapsodyinbooks.wordpress.com/2009/05/20/review-of-%E2%80%9Cfahrenheit-451%E2%80%9D-by-ray-bradbury/ Report on Human Rights Abuses or Censorship in North Korea. US Department of State, July 6, 2016. https://www.state.gov/j/drl/rls/259366.htm Stelter, Brian, Marshall Cohen, David Shortell, and Jessica Schneider. Judge Orders White House to Return Jim Acostars Press Pass. CNN, November 16, 2018. https://www.cnn.com/2018/11/16/media/cnn-trump-lawsuit-hearing/index.html Thomas Jefferson Quotes on Censorship. AZ Quotes. https://www.azquotes.com/author/7392-Thomas_Jefferson/tag/censorship United States Supreme Court Sweezy v. New Hampshire, Decided June 17, 1957. Case Law.Find Law. https://caselaw.findlaw.com/us-supreme-court/354/234.html Weller, Sam. Did Ray Bradbury do a 180 on ?Fahrenheit 451? Dallas News, April 12, 2013. https://www.dallasnews.com/arts/books/2018/11/08/20130412-sam-weller-ray-bradburys-180-on-fahrenheit-451 What you Didnt Know About Censorship in America. Censorsip.Laws.com. https://censorship.laws.com/censorship-in-america

Essay The Economic Theories of Milton Friedman - 795 Words

The Economic Theories of Milton Friedman Milton Friedman, like so many great life stories, was the product of a very tough childhood. He was son to a couple of poor immigrants, born on 31 July 1912, in New York, America. At the age of fifteen, Friedmans father died. Despite this, he won a scholarship to both Rutgers University and the University of Chicago, where he achieved a Bachelor of the Arts degree in economics. The very next year he received an MA at Chicago University. He then worked for the National Bureau of Economic Research (from 1937) while teaching at many universities, but it was only at Chicago in 1946 that he was given the title of professor of economics. Thirty years later, in 1976, he was awarded the Nobel Prize†¦show more content†¦Friedman argued however, that this intervention was destabilising, and that what was needed was a steady money flow to create a basic framework for the economy; the rest should be left up to individual competition. This school of thought goes along the lines of It is in the best interest of the producer to satisfy the consumers wishes. By doing this, they are also acting in their own interest, therefore competition is working to the benefit of the whole economy. In order for this competition to be present, there needs to be freedom of the individual. He boldly stated that this can only be created by minimal government regulation of the economy, which allows power to be concentrated and wielded by only a few individuals, rather than dispersed. After all, competition can only be present between companies that are on equal grounds in relation to the amount of power behind each. The controversy surrounding Friedmans views is that he promotes complete private ownership of nearly everything. He particularly supported private schools and thought that the government should subsidise fees for any school chosen by the parents, rather than providing government owned schools. 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Adam Smith allowed for many exceptions to a strictly free-market economy.Read More Milton Friedman Essay1059 Words   |  5 Pages Milton Friedman Milton Friedman is known as one of the top economists in the world. He has a Ph. D. from Columbia University, won a Noble Memorial Prize in economics and has also been awarded many honorary degrees by other Universities in the United States. As you can tell, Milton Friedman has played a significant part in helping to solve the economy problems of the world. Youve probably heard all about his accomplishments and awards he has received, but what about how Milton Friedman playedRead MoreMilton Friedman And John Keynes Are Two World Renowned1143 Words   |  5 PagesMilton Friedman and John Keynes are two world renowned economist, with many similar and contrasting views that have helped set the foundation of our economy. Friedman s ideology on subjects such as the Monetary Policy, Gold Standard, and the Theory of the consumption function are what made him a extremely impactful economist. Keynes has made his impact on the modern day world as well in many aspects. Both of these economists have helped pave the way to a better, more efficient economy. MonetaryRead MoreThe Economic And Political Problems Of The 60s And 701492 Words   |  6 PagesThe economic and political problems of the 60’s and 70’s have left a huge influence on the ideas and actions of politicians today. From stagflation to the Vietnam War many politicians use these past issues to justify their policies of today. One of the most influential economists who emerged in the sixties was Milton Friedman, who fought against the establishment’s Keynesian view and many of the policies of FDR. He won a Nobel Prize in 1976 for his work in monetary policy with specific beliefs inRead MoreThe Economic And Political Challenges Of The 60s And 701519 Words   |  7 PagesThe economic and political challenges of the 60’s and 70’s have left a huge influence on the policies and actions of politicians today. From stagflation to the Vietnam War many politicians use these past issues to justify their decisions of today. One of the most influentia l economists who emerged in the sixties was Milton Friedman, who fought against the establishment’s Keynesian view and many of the policies of FDR. He won a Nobel Prize in 1976 for his work on monetary policy with specific beliefsRead MoreCritique of Milton and Rose Friedman, Free to Choose.1587 Words   |  7 PagesEssay question: Milton Friedmans claims that ‘voluntary exchange is a necessary condition for both prosperity and freedom. Carefully examine the assumptions about ‘power, ‘choice and ‘market efficiency that underpin his claim. Give reasons for your agreement or disagreement with him. This essay is a short critique of the theory by Milton and Rose Friedman, Free to choose: A personal statement, focusing on chapter 1. I will argue that Friedman is right in saying, Â… voluntary exchange isRead MoreEconomic Viewpoint of the Circular Flow Model939 Words   |  4 PagesEconomic Viewpoint The circular flow model begins with consumer spending (Circular Flow of Economic Activity, 1999). Consumer spending drives the amount of business investments, which, in turn, creates more jobs that allow consumers more money to spend. When employment drops, jobs decrease, leaving consumers with less money to spend, which slows the economy. As employment rises, jobs are created that allow consumers more money to spend that speeds up the economy. When the government reducesRead MoreCorporate Social Responsibility : Milton Friedman1083 Words   |  5 PagesAbstract Milton Friedman, a well-known, Nobel Prize recipient, and economist, who preached against corporate social responsibility as a goal to American businessman. His concepts, and arguments, has been their foundation for fiscal success thereby generating end-profit for shareholders. However, over the past 40-years, financiers have realized not only do they owe earnest to their shareholders but also their customers. The government and society have both found roles to play in the future of big