The East Asian Model of Development and Financial Crisis Essay Example for Free

The East Asian Model of Development and Financial Crisis Essay The East Asian miracle is often quoted as an example of how countries can register fast paced growth through focused and concentrated growth in industry and trade. However, in the last few decades, countries that have grown at varying paces and this rate of growth has varied in different environments. The East Asian tigers, ruled by authoritarian regimes, grew at an astounding pace in the decades of the sixties and the seventies. While authoritarianism worked well in this region, dictatorial regimes in Uganda, Bhutan and Myanmar failed. Przeworski and Limongi (1997) show how political freedom enables the optimal use of resources in any country. Interest groups exert pressure on governments and ensure widespread and sustainable growth. Free market based economies work on the principles of rule of law, property rights and enforcement of contracts. This way growth is robust and is not vulnerable to shocks that are inherent in a globalizing world. The East Asian countries, including Japan, went through a financial crisis as foreign investment flows got reversed, currencies were devalued and balance of payments suffered. This crisis was the result of a long history of economic inefficiencies helped by regimes that were often corrupt, interventionist and politically entrenched. It is against this backdrop that people all over the world started questioning the entire east Asian model, which till the early nineties was seen as an efficient system that had enabled a large number of poor countries develop their industry, trade and economy at a pace rarely seen before. Economic development and liberty There are those who argue that democracy is inefficient and is prone to market failures. Governments are seen as enforcement agencies that ensure redistribution of wealth. Lipset (1959) and Sen (1999) have argued against this proposition and shown that it is indeed democracy that fosters economic growth. Those who argue in favour of authoritarian rules have one extreme example of Singapore that they often quote. Lee Kuan Yew the first Prime Minister of Singapore who believed in authoritarianism authored the Lee paradigm, and under him Singapore became a prosperous nation. Researchers have examined the Lee paradigm to check whether authoritarian regimes have fostered greater growth and development when compared to democratic structures. According to Haizheng and Zhenhui (2007) who have worked on this model to check whether authoritarian regimes have fostered greater growth and development than have democratic structures, there are indeed a few examples of countries like Singapore and South Korea that have shown impressive growth under authoritarian regimes. However the correlation between authoritarianism and economic growth is not robust. There are counter examples like Botswana and India where economic growth has been spectacular within democratic frameworks. Sen (1982) goes further to argue that there are enough examples of countries where authoritarianism or the lack of a democratic structure has actually resulted in economic decline. In countries like Niger, Ethiopia, Sudan and even in China, famine and hunger took hundreds of lives and an authoritarian regime could do little to avert the crises. He states further that democratic institutions such as a free press, a vigilant opposition and regular elections ensure that the democratic process keeps the political economy alert. Lobbies do exist, interest groups try to steer the political economy in certain ways, but the interplay of all stakeholders ensures that democracies throw up issues that are of common concern. Howlett and Ramesh (2003) point out that it is often seen that individuals, groups, classes, and states participate the democratic policy process. Their own interests often guide them. However when these come together, it is the institutional mechanism of a democratic framework that ensures a stable outcome. Government and the Economy Governments and political policies are important influences on businesses worldwide, impacting on the competitive context in which business strategies are implemented. Over the last couple of decades, economic reforms leading to privatization and liberalization have further increased this influence. Donaldson Preston (1995) have pointed out how as the impact of business on societies grows, companies experience varying and increasing demands from diverse stakeholders. Politics is the stage on which these diverse stakeholder demands are ultimately met with. Success requires active participation from both businesses and governments. Further as Tushman Anderson (1997) show, modernization and strategic dependence on new technologies has become central to markets in many economies. These new technologies create regulatory challenges that again require political responses that can affect the viability and profitability of the business. Governments thus influence the ability of businesses to improve profits and therefore the ability to exert political influence in technologically dynamic sectors becomes an important capability. Again, globalization has greatly improved the chances of conducting business internationally, allowing companies to widen their portfolios and enter into global markets. The significance of governmental policy therefore again assumes great significance in matters of export import regulations, duties etc. (Ohmae, 1999). Democracy and Government What is the better option A strong centralized power controlling all resources versus private players given the freedom to decide what and where to invest? There are a number of people who keep insisting that a dictatorship is what the country requires. Arguing against them is the lot that states categorically that a democratic system that guarantees liberty is what is essential for growth. Economic growth implies the efficient use of available and scarce resources. The argument between those who support a centralized planned and tightly controlled allocation of resources versus those who believe in the market to efficiently allocate resources goes on. Apart from the political concerns, economists have been looking at this issue for a while now. Ronald Coase (1960), a Nobel prize winner in Economics had argued in his famous transaction cost analysis, that there is a cost that society bears when the government allocates resources and this leads to inefficiency. Governments have no way of knowing who will use resources most efficiently and in most cases allocate resources to inefficient players. Other economist have points to the tragedy of the commons, where the absence of clearly defined property rights leads to free rider problems and over exploitation of resources. The question therefore is whether markets should be left free to correct themselves or to have a stringent regulatory mechanism in place that ensures consumer welfare through controlling dominance and capture. In the current scenario then, what exactly is the nature of relationship between governments and businesses? Though the balance has tilted towards the private sector and private enterprise by and large, the state still holds considerable powers over business activities. Doris Fuchs (2005) talks about the different aspects of power that businesses hold in the global economy. Fuchs explains that those who argue stating that there is no business influence on politics should note that the opposite is the case, in countries like those in East Asia. Development of any economy depends on the growth in income, employment and opportunity. These are a direct outcome of investments made, technologies used and markets created. In all these, it is important to look at the roles that the state and the private players play. Governments foster an investment climate that encourages capital flows, incentivise production, builds capacities and enables markets to develop. Cooperation between private business and the government paves way for the efficient markets to develop where demand is created and supply increased to maintain equilibrium. Several examples of such collaborative ventures can be seen especially in large infrastructure developments see across the world. The first example of such a collaboration was seen at the twentieth century when in the US an entire railroad industry developed. Private public partnerships have also been widely used to tackle rising pollution levels and the need for tighter environment protection. The first wave of environment protection saw governments work with a slew of stringent laws and regulations. Then came the non governmental organisations that lobbied against polluters. NGOs, government and civil society work as levers for promoting a greening of industry. Lehmann (2006) uses the Danish example of the Green Network, to demonstrate how new forms of co-operation between public authorities and private companies are arrived at. The conclusion is that through dialogue, reflexivity and the establishment of an enabling environment, public–private partnerships can become useful vehicles in societies move towards the use of environmentally sustainable technologies. Conclusion Democracy, as a form of governance that guarantees political freedom, has long been viewed with suspicion in certain quarters. Various economists have explained how a strong property rights regime within free markets is the best way of guaranteeing efficient resource sharing. Any political regime that interferes with the market then abides by its own rules that could very well be steered in inefficient ways through coercive power that some constituents possess. However, the free market argument has its critics, who ague that some people tend to capture all resources and this results in exploitation of a large group of underprivileged people. Governments, in such cases, are unable to implement rules and the market fails. Gunnar Myrdal had coined a term called â€Å"soft states† in his book â€Å"The Asian Drama†, where the argument was that some states because of their governance structures, history and culture are unable to implement tough action and therefore cannot regulate markets effectively. This has been shown to be big reason for authoritarian states to move fast by way of economic growth, as they were able to take stern steps that are required to ensure growth and development. However the correlation between authoritarianism and economic growth is not robust. Democratic institutions such as a free press, a vigilant opposition and regular elections ensure that the democratic process keeps the political economy alert. In terms of issues that relate to public resources, especially the environment, the tragedy of the commons is a prevalent phenomenon and as Hardin (1968) explains, it is the lack of private incentives and state inefficiencies that play havoc with public goods. The environmental decay and abuse that is seen in authoritarian regimes that have no space for protest and counter opinion ensures that there is no political interest in protecting the environment. In democracies however, lobbies do exist, interest groups try to steer the political economy in certain ways, but the interplay of all stakeholders ensures that democracies throw up issues that are of common concern. It is often seen that individuals, groups, classes, and states participate in the democratic policy process. Their own interests often guide them. However when these come together, in a rule of law mechanism that guarantees equality in the eyes of the law, it is the institutional mechanism of a democratic framework that ensures a stable outcome. The East Asian economies developed without such a framework and therefore, as the economy grew, it also became fragile. The effect of a shock like that seen during the financial crisis therefore affected all segments of the society and the economy. That is why, it is important that economies today are built on robust fundamentals of an enabling market mechanism and not on tight governmental control and intervention.

Comparing Ballistics Of A .30-06 And .270 :: essays research papers

Comparing Ballistics of the .30-06 and .270   Ã‚  Ã‚  Ã‚  Ã‚  I have written this science research paper to compare ballistics of a .270 and a .30-06. This paper will also make my decision on which one I will purchase next. If I fire the .270 and the .30-06 rifles into a 2x4, then I will be able to determine from the ballistics which caliber rifle is better. For my experiment, I fired two rounds of ammunition into a 2x4 with each gun. Both rifles were fired at a range of 50 yards away, into the wind, while using 150 grain shells. The rounds for the .270 used soft tips, but the .30-06 used sharp tips.   Ã‚  Ã‚  Ã‚  Ã‚  The .30-06 is an extremely good rifle for most of the outdoor activities. The depth of this rifle is superb compared to the .270, mainly because it is of a higher caliber, and that means more power. The bullets can come from ranging anywhere from 110 grain to 220 grain, soft, regular (sharp), and hollow pointed shells. With 180 grain bullets, the .30-06 packs about 1300 ft./lbs. of energy at 400 yards. Although, at 400 yards the drop is almost 50 inches; most hunters prefer this one compared to other rifles because of its versatility and accuracy. The expansion is also good, depending on the type of shell tired-used. The kick and distance of the gun are considered to be wonderful because the kick is normal and the distance is better than normal.   Ã‚  Ã‚  Ã‚  Ã‚  The .270 rifle is a reasonably good rifle. This rifle is mainly used in open field shooting as opposed to in brush shooting. The depth and the expansion work together and turn out to be great, especially if soft pointed shells are used. The kick and the distance from the .270 rifle work relatively well as a whole. The .270 is considered to be a fairly light gun. Even though the gun may be light its shells can push a 150 grain bullet to a range of about 3000 fps (foot pounds second), and 1200 ft/lbs. at 400 yards. The .270 is not preferred mainly because the higher the grain shell the more power and the highest shell for a .270 rifle is 150 grain.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  It is now time to compare the .270 and the .30-06. The .30-06 is an accurate gun, but cannot hold up to the .270, the reason being is the power behind it.

Locke on the Social Contract Theory

Social Contract Theory is a philosophy, which states that political and moral obligations of a person are rendered to him, upon an agreement between the ruler and the society. This agreement governs both the ruler and the ruled society to act in accordance with one another. John Locke, along with Thomas Hobbes and Jean Jacques Rousseau, is one of the best known proponents of this theory, which emerged as one of the most influential political theories in the history of the Modern West. Social Contract Theory was an answer to reject the Divine Right Theory, which was used by kings and queens as their basis for their right to rule. Locke’s most important and influential writings are in his book, Two Treatises on Government. The first treatise in his writing is geared towards the rejection of Divine Right theory; and the second treatise states Locke’s own views on the justification for the civil government, which he entitled An Essay Concerning the True Original Extent and End of Civil Government. John Locke’s Social Contract Theory held a positive view about human nature. He argued that humans have a gift of reason, and man’s natural condition is a state of perfect and complete liberty wherein, humans live their lives at its best without interference from other people. People are assumed to be in equal footing with one another and are bound by the Law of Nature. This Law of Nature however is according to Locke’s view is the basis of all morality, and thus must not extend to harm other people’s rights with regards to their life, health, liberty or possessions (Locke 2003). Further more, as his concept of State of Nature lacks civil power amongst men and an appeal to the Law of Nature allowing people to defend themselves. Because of this lack of authority, a war is likely to break out, thus prompting the reason to abandon the State of Nature and recognize a contract that shall in turn form a government. This, as a result to man’s having the ability to think rationally, humans submit themselves to a higher authority for the protection of their rights. However, in Locke’s Social Contract Theory, a rational individual will only agree to a government, with minimal and limited control, and a government that is controlled by the citizens. Because for Locke, the government can be easily lured to become restrictive, corrupt and abusive of powers, thus prompting the individuals to always retain some power over the government for the sake of freedom and equality. This issue concerning freedom has always been central to Locke’s market government. Government must always employ the right blend of freedom and restrictions with it. For the people, their property and lives are their rational interests; and their concept to form a government is geared towards the protection of these interests. Therefore, the people, although putting the security of their rights in the government, are still fearful of the government’s potential power (The Social Contract). Thus, according to Locke, should the government cease to become responsive to its citizens, the government should be overthrown. They still hold the right to revolt against their ruler if they realize that their ruler is no longer able to cater to their needs and has been abusive and oppressive to the rights of man. Locke also supported the idea of laissez-faire, wherein there will be limited government intervention for the market to be able to generate a prosperous civil society based on individual’s rational competition. Locke’s version of the theory has played a great role in the development of the Western politics, particularly in America. His social contract plus laissez faire, has also became the basis for market institutions. Locke’s theory has been influential to the current criminal justice system, with property playing an essential role in the society’s government and contract that establishes it. With the State of Nature being itself chaotic when no one is bound to control the state of liberty for men, hence bringing about the State of War, and eventually creating the need to establish a contract between the ruler and the ruled society to enable people to rightfully defend their life and liberty. Thus, the need to protect their properties has prompted the people to abandon the State of Nature and form the social contract between the civil society and the government. Given the great influence that John Locke has posed through his political theories, his philosophies have continued to live until the present time, especially in American politics. The criminal justice system and world politics in general have exhibited strong influential heritage from Locke’s philosophies; in particular pertaining to the way the government must handle its affairs, so as to please the civil society who placed them in power. The Democratic form of government and criminal system, wherein the civil society is always left with a choice to whom must be put into power is an example of a social contract. And in turn, the overthrow or government leaders who did not much perform for the benefit of the people is an illustration of Locke’s theory. Reference Locke, John. (2003) Two Treatises of Government and A Letter Concerning Toleration. Yale University Press. The Social Contract. Retrieved October 25, 2007 from http://www.sagepub.com/upm-data/2769_Swri01.pdf   

Leadership Culture A Review Essay - 1674 Words

Leadership Culture: A Review of the Literature Dallas Benson Liberty University Abstract Culture represents the informal set of attitudes, beliefs, goals, norms understandings, and values that provide both a sense of identity and purpose to an organization. Research into the influences of management on corporate culture include insights from a variety of fields to include business, economics, politics, psychology, and sociology. This review examines the literature on organization design and leadership as influencers of innovation and change. Specifically, the paper investigates the link among mechanistic and organic structures, leadership, relationship styles, and change management. Transformational leadership style is associated with organic structures; transactional leadership style is associated with mechanistic structures; idea generation is significantly related to Transformational leadership; implementation is significantly related to transactional leadership; and, the relationship style (between the management and the organization, the employees and the organiz ation, the management and the employees, and amongst the employees) dictates the impacts the transformational and transactional leadership on idea generation and implementation respectively. 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