...“The Indian pharmaceutical industry is a success story providing employment for millions and ensuring that essential drugs at affordable prices are available to the vast population of this sub-continent.” Richard Gerster The Indian Pharmaceutical Industry today is in the front rank of India’s science-based industries with wide ranging capabilities in the complex field of drug manufacture and technology. It ranks very high in the third world, in terms of technology, quality and range of medicines manufactured. From simple headache pills to sophisticated antibiotics and complex cardiac compounds, almost every type of medicine is now made indigenously. Playing a key role in promoting and sustaining development in the vital field of medicines, Indian Pharma Industry boasts of quality producers and many units approved by regulatory authorities in USA and UK. International companies associated with this sector have stimulated, assisted and spearheaded this dynamic development in the past 53 years and helped to put India on the pharmaceutical map of the world. Growth Scenario in 2010 India's pharmaceutical industry is now the third largest in the world in terms of volume. Its rank is 14th in terms of value. Between September 2008 and September 2009, the total turnover of India's pharmaceuticals industry was US$ 21.04 billion. The domestic market was worth US$ 12.26 billion. This was reported by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers. As per...
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...Topic Two: Market Failure The healthcare system in Britain is predominantly paid for by the Government, and has done now for a number of years, through taxes paid for by the public. In contract the United States, the health care system is part of a free-market economy. This means that when a member of the US public is in need of health care, they must pay for it themselves, with no government help. For example, Sloman (2007) gives a distinct definition to a free market economy, ‘An economy where all economic decisions are taken by individual households and firms with no government intervention’ If healthcare was to be funded completely through a free-market economy, a lot of individuals would say that it would be a relatively fair way of providing each person in need of care, quality treatment. The website Patient UK (2009) cited that ‘1 in 16 hospital admissions are due to alcohol related illnesses’. This strong statistic would reveal that the majority of people in Britain are paying taxes towards the NHS to pay for the care needed for ever-growing amount of people seeking treatment for injuries and illnesses, they most likely would not obtain if they hadn’t got so intoxicated. In some cases, some members of the public in need of the treatment are in fact those of the British public seeking benefits for the Government, so in turn are not only looking for tax payers to for their living benefits but also healthcare. It could be said that the healthier members of the public...
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...In order for one to answer whether the idea of communism is potentially emancipatory it is important to first define what the communist idea is as well as what an emancipatory feature of policy is. To start with the latter, emancipatory theory drawn from its name is the notion that people are means within themselves and not ends to the needs of others. They have agency and should be free to propose the world in which they wish to live in. According to Ramsey 2011:183, the emergence of emancipatory theory was in the 1960’s and 1970’s and it emerged as theory that was opposed to the oppression to the extent that they are marginalised. “Dominance is progressively dehumanizing for both the oppressed and the oppressor, though only the resistance of the oppressed will allow for the possible re-humanization of the oppressors” (Ramsey, 2011:183.) Emancipatory theory is meant to target oppression that consolidated within dominant systems of policy in reality that takes away people’s agency and consciousness. This essay deals with communism as an idea, this requires effort in departing from the use of communism as an adjective that describes a form of politics, “An entire century of experiences both epic in scope and appalling was required to understand that certain phrases produced by this short-circuiting between the real and the Idea were misconceived.”(Badiou, 2010:13). At this point Badiou requires us to not look at communism in its historical context and use misconceived phrases...
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...EVENING I’M HERE TONIGHT TO TALK ABOUT CAPITALISM. I’M HERE BECAUSE A FEW WEEKS AGO I SAT ON A PANEL AT CBS ASSESSING STUDENTS WHO HAD APPLIED FOR OVERSEAS INTERNSHIPS I EXPECTED TO MEET DENMARK’S NEXT GENERATION OF BUSINESS LEADERS INSTEAD I MET DENMARK’S NEXT GENERATION OF NGO OFFICERS, CHARITY WORKERS AND UNITED NATIONS BUREAUCRATS. ONE STUDENT AFTER ANOTHER TOLD ME HOW THEY HAD NO INTEREST IN A CAREER IN BUSINESS. HOW BUSINESS PEOPLE ARE ONLY INTERESTED IN MONEY. IT WAS AS IF CAPITALISM WAS SYNONYMOUS WITH EXPLOITING THE POOR, PUTTING CHILDREN TO WORK IN FACTORIES, DESTROYING THE ENVIRONMENT. IT WAS AS IF YOUR SCHOOL HAD BEEN POISONED, THAT A COLLECTIVE GROUPTHINK HAD TAKEN HOLD AND IT HAD BECOME IMPOSSIBLE TO STAND UP FOR THE MARKET ECONOMY WITHOUT LOSING ALL YOUR FRIENDS. THAT’S WHY I’M HERE. I ASKED TO BE HERE. TO STAND UP FOR THE MARKET ECONOMY. FOR CAPITALISM. AND FOR LIBERTY – WHICH IS WHAT MAKES IT ALL TICK. LADIES AND GENTLEMEN THE MARKET ECONOMY IS MANKIND’S GREATEST ACHIEVEMENT DARWIN’S THEORY OF EVOLUTION WAS GOOD. EINSTEIN’S THEORY OF RELATIVITY WAS QUITE IMPRESSIVE. THE LUNAR LANDINGS DESERVE A MENTION. BUT CAPITALISM IS A MIRACLE. WE HAVE INVENTED A MAGICAL SYSTEM THAT ALL BY ITSELF GENERATES PROSPERITY AND MAKES EVERYBODY RICHER. CAPITALISM IS A FORCE FOR GOOD NOT BECAUSE IT MAKES THE RICH RICHER – ALTHOUGH IT DOES - BUT BECAUSE IT LIFTS THE POOR OUT OF POVERTY. THE BIG WINNERS FROM CAPITALISM – THE JACKPOT LOTTERY WINNERS – ARE THOSE...
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...Asses the Marxist view that the main role of the family is to serve the interest of capitalism. Within sociology there are many different perspectives on the family. Each different perspective sees different things as the main role of the family. Marxists view the family in a very critical way. They believe that the main role of the family is to serve the interest of capitalism. They also believe that the family is seen as an institution which serves to maintain the position of the ruling class. Karl Marx's view on the capitalistic approach shows the unequal nature of the economic system. He shows how the middle and upper class take advantage of the working class and their labour; and that the working class are a tool used to create profit and to keep profit margins at acceptable levels. Marx also argues that the monogamous upper class nuclear family is developed to help solve the problem of the inheritance of private property. The men needed to know who their children were in order to pass on their property on. The family was therefore thought to be designed to control women and protect property. It encourages male power and dominance through the inheritance of property. Marxists argue that the families function is to socialise us into the ruling class ideology. They see the family as an institution which serves and maintains the position of the ruling class. As a result of this they see the family class split into two categories, a small powerful ruling class dominated by...
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...According to James Henslin, socialism is defined as an economic system with three main components that distinguish it from others systems such as capitalism. One component is the public ownership of the means of production, the second is central planning, and the third is the distribution of goods without a profit motive. (Henslin 386) In contrast to capitalism, with socialism, the public ownership of companies means that there is only one producer of goods and services, and prices are influenced by the cost of production not supply and demand or market competition. The government creates its own monopoly, but instead of controlling just one industry the government controls every industry. The central committee decides what the country will need, and how much they will charge for the products. There is no profit motive, only to produce the goods that will promote the general welfare. According to Henslin, these goods are then distributed according to people's needs rather than their ability to pay. (Henslin 386) In order for a government to do be able to produce goods in an effective manner they must own the land, factories, transportation and all other industries that support production. Such as the oil industry, the energy sector, minerals and forestry. The government also becomes the only employer, and all employees would be government employees. According to Henslin, this includes the central committee members, the factory workers, truck drivers, sales clerks, and even...
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...Introduction Karl Marx (1818 – 1883) was born the son of a well-known lawyer, in Trier. He was a German philosopher, economist and historian whose ideas played a major role in the development of the social sciences and the socialist political movement. During his lifetime Marx wrote and published many articles and books, most notably; The Communist Manifesto and Capital. Admirers of Marx work have drawn from what he wrote, taking his ideas one step further and created grand theoretical viewpoints which are known to us as Marxism. Marxism is a theory of economics and history and the basic explanation for how societies go through the process of change, Marx believed that capitalism was evil and created increasing disproportion so wealth in society, since the worker would become poorer the more wealth he created for their employers, this was because a worker becomes a cheaper commodity the more commodities he produces. The central theme of Marxism is public ownership and control of all means of production. Marxism thus calls for abolition of the capitalist economic system where chief means of production are privately owned. According to Marxism, supporting the development of a classless society would have led to prosperity and freedom for all. Marxist Ideas One of the basic ideas of Marxism is that of Dialectical Materialism. This outlook is referred to as dialectical materialism because its approach to the occurrences of nature, its method of studying and apprehending these...
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...Case Analysis “Creative Destruction”- Economist Joseph Schumpeter The very term “capitalism” is derived from a division of the factors of production into labor, land, and capital (McConnell, Brue & Flynn, 2012). Entrepreneurship is a late comer to this division when it was discovered that the value of output could not be derived from the factors of production that went into producing it; entrepreneurship was introduced to account for the difference. So when we speak of giving capital “free hand”, we are really talking about entrepreneurship: the pursuit of higher returns on capital-profit. Entrepreneurship can increase productivity of capital. Globalization, removing government restrictions, and giving the profit motive an opportunity have led to an explosion in productivity (McConnell, Brue & Flynn, 2012). The gains in productivity are closely related with the development of the network economy and the Internet happened to reach explosive growth in the past few years. The internet started off as a government-sponsored research network that people hooked into. It was only when it started being used for commerce and advertising did it become a significant factor in fostering productivity, economic growth and the stock market boom. The technological innovations, at which the internet is the only one at this time I am speaking of, has also a reflexively connected with the abolition of the regulated monopolies in the telephone industry(McConnell, Brue & Flynn, 2012)...
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...INTRODUCTION China is the world second biggest economy in the world; this result was achieved in the last 30 years as its economy has been growing in average 10% annually (According to International Monetary Fund). This uncommon economics performance compels economists all around the world to ask them selves is a democracy an only system of government which guarantee sustainable growth and development of an economy? Though some economists believe that democracy, as the most common type of capitalism, is the most “healthful” and useful economics and government system, China is a socialist country. Socialism – “Compare capitalism an economic theory or system in which the means of production, distribution, and exchange are owned by the community collectively, usually through the state.” . From the definition it may be concluded that free market economy is more common for democracy (Capitalism), whereas planned economy is more typical to socialism. In a free market 3 basic production decisions: what to produce, how to do this and for whom these products should be produced; are made by the price mechanism without or very limited government intervention. Price mechanism assure that that there will be high competition in the market which will lead to high level of quality and innovations, low prices and quick respond to consumer’s wants as producers have to compete for consumers. However, as these decisions are made only by market forces some of them may be wrong, market failure...
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...There are many different perspectives of the family. Each different view sees different things as the main role of the family. Marxists view the family in a very belittled manner. They believe that the main role of the family is to serve the interests of capitalism and bourgeoisie. They also believe that the family cushions the main provider. Marx’s views on the capitalist mode of production highlights the exploitative nature of the eco system. He displays how the middle class take advantage of the working class and their labour; the working class are a tool used to create profit and to keep profit at a reasonable level. Marx argues that the monogamous middle class nuclear family developed to help them solve the problem of the inheritance of private property. The men needed to know who their children were in order to pass on their property to their heirs. The family was therefore thought to be by Marxists as designed to control women and protect property. The Middle class nuclear family is emerged with capitalism. It is patriarchal as designed to guarantee and encourage male power through the inheritance of property. It therefore serves the interests of capitalism. Marxists would argue that families are a unit of reproduction, they believe that the family is essential in the reproduction of the labour force. In pre capitalist society people only grew staple foods, drank water and lived simple life’s. People choose to have numerous children. More children meant more farm hands...
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...Cooper Industries Inc. Based on the given information in the case study regarding the acquisition of Nicholson File Company by Cooper Industries, there is no question that Cooper should try to gain control of Nicholson. This decision is based on an analysis of the bargaining positions of each group of Nicholson stockholders which have disparate goals and needs that need to be met. In addition, an appropriate payment method and specific dollar value based on a competitor's offer and Cooper financial data was decided. The remainder of this paper will provide the analysis and rationale for this determination. Should Cooper Industries Acquire Nicholson File Company? Cooper Industries has been expanding through diversification since 1996. Cooper's requirements to acquire a company has three major components. The target company must be: 1. In an industry in which Cooper could become a major player 2. In an industry that is fairly stable, with a broad market for the products and a product line of small ticket' items; and 3. A leader in its market segment. When looking at the criteria that Cizik's company (Cooper Industries), set forth relative to acquisitions, the acquisition of Nicholson meets all three objectives plus has significant potential short and long-term potential. Cooper management feels that by eliminating redundancy and streamlining Nicholson's operations this potential can be realized. Currently, Nicholson's financial history boasts a 2% increase in profit...
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...Socialist and Capitalist: First, when we talk about the Western Europe is capitalist or socialist, we have to understand what is capitalist and socialist. Capitalist is a social system based on the principle of individual rights. Politically, it is a system of freedom. Legally, it is a system of objective laws, which is common law. Economically, when such a freedom is applied to the sphere of production its’ result is the free-market. However, socialist is an economic system where the means of production, such as money and other forms of capital, are owned by the state or public. Under a socialist system everyone works for wealth that is distributed to everyone. A socialist economic system operated on the premise that what is good for one is good for all. Everyone works for their own good and the good of everyone else. Legally, socialist system is based on the civil law system and Marxist-Leninist ideology. And I want to make one more clarification, as do many people, we confused socialism with communism, socialist in Western Europe doesn’t mean Communist. Social democrats committed themselves to achieving socialism by democratic means, turning their backs on violent revolution and dictatorship. Based on socialist characteristic, we concluded that Western Europe is socialist country. Here are the reasons why we say Western Europe is socialist country. Socialist: France One of largest political party in France is social-democratic. France provided some actions on public...
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...Class issues and the rise of the superstructure in The Giver and The City of Ember Since the start of agriculture, man's evolution has gone from a hunter-gatherer to modern day capitalistic societies. Using a lot of energy in order to hunt was no longer necessary. By leveraging the division of labor, grains could be stored for human consumption. Consequently, population grew which meant that some people had to, for example, harvest the food, whereas others could be “thinkers” and create a better world in terms of science and effective infrastructures. Over time resources have been used and exploited in to order to sustain societies and the ever increasing population: It has become a scarcity. (Harris 12) Philosophers such as Karl Marx wrote about this scarcity and how it creates classes in societies, as in Das Kapital, the Critique of Political Economy: In social productions of their life, men enter into definite relations that are indispensable and independent of their will, relations of production which correspond to a definite stage of development of their material productive forces. The sum total of these relations of production constitutes the economic structure of society.... With the change of the economic foundation the entire immense superstructure is more or less rapidly transformed. In considering such transformations a distinction should always be made between the material transformation of the economic conditions of| production...(Marx 143) What is...
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...Definitions of Entrepreneurship Miami University of Ohio Entrepreneurship Center Sloan note: In the interest of full disclosure, among other universities attended (Maryland, Syracuse, Indiana, Ohio U, Ohio State) I must include Miami of Ohio (Political Science PhD program; voluntarily dropped out at the year mark – I found out what they pay those guys in that discipline! Business is a whopping amount better. In the spirit of due diligence, you can burn a whole lot of time through sheer naiveté). Researchers have been inconsistent in their definitions of entrepreneurship (Brockhaus & Horwitz, 1986, Sexton & Smilor, Wortman, 1987; Gartner, 1988). Definitions have emphasized a broad range of activities including the creation of organizations (Gartner, 1988), the carrying out of new combinations (Schumpeter, 1934), the exploration of opportunities (Kirzner, 1973), the bearing of uncertainty (Knight 1921), the bringing together of factors of production (Say, 1803), and others (See Long, 1983). The outline below presents some authors definitions of entrepreneurship and attempts to summarize these viewpoints into a more meaningful whole. Richard Cantillon (circa 1730); Entrepreneurship is defined as self-employment of any sort. Entrepreneurs buy at certain prices in the present and sell at uncertain prices in the future. The entrepreneur is a bearer of uncertainty. Jean Baptiste Say (1816); The entrepreneur is the agent "who unites all means of production and who finds in the...
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...Why Nations Fail In this essay, I am reviewing a book entitled Why Nations Fail written by Daron Acemoglu, and James Robinson. The book was written in 2012, and the authors mention the ongoing Arab Spring as they were putting together their ideas in writing. This coincidence makes me wonder if these authors were also impacted by the information revolution or the information outburst as Nye (2013) often chooses to call. In fact, the authors did not mention the term ‘information revolution’ in the book; they simply state that Egyptians are on the street not because they are poor, as many scholars and political analysts suggest, but because power has resided in the hands of a few elites, and these elites have used political power to amass personal wealth at the expense of the bigger mass. But why the Egyptian revolution took place at this particular time, instead of a decade ago, for example? As far as I understand political theories, the answer lies behind globalization and information revolution which opened a new gate to information. That is, since billions of people around the globe are capable of reaching the internet (about 1.7 million according to Nye), many are able to read online news, or even watch them live as they are being broadcasted. Thus, it is possible to associate the Egyptian revolution or the Arab Spring to globalization and information revolution. Acemoglu et al, (2012) also indicate that Egypt’s ex-president, Hosni Mubarak gathered a huge amount of...
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