Analysis Of The Argument And Evidence Of The Movie Crash

Summary of the argument and evidence Minsky argues that there is Ð ° fundamental and inherent instability in our economy that tends towards Ð ° speculative boom. Ð ° human being is fundamentally Ð ° momentum investor as argued rather than Ð ° value investor. Hence during times of speculative boom three types of market players are prominent namely hedgers , speculators and Ponzi investors. Ponzi investors are those which rely on the increase in asset price to refinance their existing debt. Hence Ð ° Ponzi investor is safe as long as the asset prices tend to rise. This period of mammoth rise in asset prices is triggered by the herd mentality and the fundamental nature of humans being momentum investors rather than value buyers. Unlike other works†¦show more content†¦Furthermore , for coherence to reign in Ð ° market , substitution principle must apply which states that higher relative price of Ð ° commodity tends to discourage buyers from buying it whereas lower rela tive price has the exact opposite effect on the appetite of the buyer. If the substitution principle is strong enough , then decentralised markets are reliable for efficient allocation of output to households and factor inputs to businesses. This leads us somewhere to the idea of Ð ° Pareto optimal equilibrium. â€Å"Equilibrium† would not be the right term to use in Minsky’s context as instead of equilibrium , he proposed â€Å"periods of tranquility† which are characterised by robust financial systems and innovations much like what preceded the 2008 subprime mortgage crisis. But phases of tranquility are just calm before the storm as tranquility encourages more risk-taking that increases incomes even as it disrupts conditions necessary for â€Å"coherency† and â€Å"tranquility†. Therefore , according to this theory the market forces that operate in the time of tranquility are what push the system towards instability so that even if an equilibri um is achieved for some time, it’ll set of behavioural responses that will quickly displace the economy from equilibrium. While Minsky credits Keynes for pointing out that the aggregate quantity of investment was self enforcing on the economy through the multiplier effect , he went one stepShow MoreRelatedSociopath Portrayed In Tv And Movies Vs. Real Life. Name.1683 Words   |  7 Pagesdisorder characterized by at least two distinct and relatively enduring identities. It causes a lack of connection in a person’s thoughts’ memories, feelings, actions, or sense of identity. 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American Public Education Essay - 676 Words

Public schools in America were regarded as the best public schools in the world up to the 1970s. Today, compared to the development of Asian and European schools, American schools are ranked as some of the lowest schools. Some students are graduating from high school with little or more knowledge about the core classes. For instance, I started school in the US at age twelve, eighth grade, and was placed in college prep classes, even though English was my second language. Fortunately, I had the opportunity to travel and study in different countries like Afghanistan, India, and Yemen. The excellent schooling system of these countries, although they were considered third world countries in the eighties, had prepared me for a higher†¦show more content†¦Are we lacking something in our education system? If so, what is it? If our system is failing, we need to find why it is, before we place our youth at a great risk in the global market. America needs to keep American youth at an equivalent academic level as the Asian and European nations. America argue that one of the main dilemma for American schools is the funding deficiency, for different programs to help the students succeed; the US spends more per student than any other G-7 nation (Asian and European countries). Studies show that the spending per pupil has probably increased about 400% since 1960. It is true that the funding might be a minor cause of our schools failing, not a major cause. Dr. Milton Friedman, a noble laureate, did a study which indicated that the quality of schooling is far worse today, than it was in 1955. This study also illustrates that we do have the highest cost per student, yet lowest quality of education. Another study argues,there is a inverse relationship between spending and quality which is evident to the G-7 nations, who have understood and worked within this system, where as Americans blame the funding mostly when education issues are brought up. The US needs to transform the academic standards and strive for advanced studies in AmericanShow MoreRelatedThe History of American Public Education Essay examples2412 Words   |  10 PagesAfter the American Revolutionary war, the people of the United States were responsible for determining the best course of action within the new republic. The Articles of Confederation were replaced by the new Constitution, which provided a general set of principles the government was to be guided by. This new system was a new and improved integration of historical warnings, hoping to prevent tyranny by individual or the masses and injustice. 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Discussion on decentralised decision making

Question: Employees put their own goals as priority and forget the companys goals(Uniform policies not Followed).Problem of Co-Ordination - Divergence of opinion among staff ,More Financial Burden? Answer: Todays managers are facing the perennial question of how much freedom in decision making should be given to their employees. The big organizations are working in decentralized system where the work is hand over to subordinates and is viewed as extension of delegation. As defined by Earl P. Strong, decentralization is the division of work and activities among the autonomous units who are given full authority and responsibility for their decision and operations (Smriti, 2013). Thus decentralization is the freedom of decision making power and autonomy to the lower level of employees. When there is freedom, the chance of misuse of this freedom is also high. In modern organizations granting freedom to employees in decision making is becoming a trend, but at the same time the cause of the concern is also increasing. Providing autonomy to employees on their job increases their job satisfaction and motivates them to perform well in their job. In traditional organizations decentralization was not present and autonomy was given to only employees at higher levels. But in todays flatter organization the lower level employees are also given higher levels of authority. Such level of authority and autonomy benefits the employees, managers and company the whole but at the same time these power of decision making and authority is misused by the employees (Mithila, 2013). 1. Uniform policies are not followed: When employees are given freedom of making business decisions on their own with no or minimum supervision they cross the line and start working in their own guidelines by keeping their personal goals on priority and forget the companys goals and missions. Each employee starts framing his own policies as per his talent. When the outcome of decision making come out to be right then decentralization is considered to be right but the wrong outcomes can be devastating for the organization and its workforce (Tanya, 2013). 2. No Co-ordination: As authority flows widely throughout the organization employees and team faces the problem of co-ordination as each employee works with his own decision. When employees are given the freedom of decision making, their confidence level increases and they become more happy and motivated and bring productivity in their work. But sometimes, high level of confidence brings arrogance among the employees and such arrogant employees are difficult to work with and handle. Such arrogant employees do not take direction in proper sense and become insubordinate and brings the problem of co-ordination among the team (Tanya, 2013). 3. Financial Burden: Modern organizations are adopting decentralization type of working but are not following the requirement of employing trained personnel who can accept the authority. The trained employees are capable of taking more responsibility within the organization and can work independently without any supervision. Recruiting such personnel will save business money by not hiring the managerial workforce. But the modern companies are not hiring such qualified personnel because it is considered as a financial burden for the company to match their salary requirements (Smriti, 2013). 4. Increase of Conflicts: When each and every employee starts working with his own working style and starts misusing his power of decision making, this leads to conflicts among the team members. When the employees are given freedom of decision making they end up by misusing this freedom. This leads to conflicts in interpersonal relations and the company is overall affected. In decentralization process there is huge pressure on divisional heads to meet their profits targets, and in meeting their targets managers usually enters into conflicts (Smriti, 2013). Conclusion There is a hair line difference beyond which the freedom granted to employees can have adverse effects on the overall performance of the organization. Granting freedom to employees is like a slippery slope because employees are always in a habit of misusing the freedom by taking more and more liberties which ultimately destroys the structure and discipline of the organization. If the freedom is not properly checked it can be backfired. Employees are in a habit of taking the freedom in granted which hinders their efficiency and performance rather than enhancing it. Employees make a habit of stretching the deadline, not following the office hours, misusing the work from home option, misuse of office internet for personal works like social networking, watching videos, paying bills etc which cannot be tolerated by any organization (Mithila, 2013). Thus the managers while deciding the how much latitude of decision making should be granted to employees they should focus on the intrapersonal experience of their employees like motivation and satisfaction and should also consider how they are perceived as effective leads from their employers. Decentralization in decision making is a positive attribute for the employees and the organization but it has many drawbacks which can destroy the organization thus proper care and monitoring steps should be taken when autonomy and authority is increasing (Roy, 2006). References Smriti Chand. (2013). Decentralization: Meaning, advantages and disadvantages of decentralization. Your article library. Mithila Mehta. (2013). Employees tend to cross the line, always! The times of India. Tanya Robertson. (2013). Negative effects of employee empowerment. Demand media. Roy Young-Joo Chua, Sheena S. Iyengar. (2006). Empowerment through choice? A critical analysis of the effects of choice in organizations. Research in Organizational Behavior, Vol 27, 41-79. ISSN: 0191-3085, doi-10.1016.