Tuesday, August 25, 2020
Wellbeing Beliefs of Haitians - Essay Example Continuously when a Haitian turns out to be sick, the primary line of care is home grown cures. These are regularly used for the anticipation and treatment of cold, fever, and stomach hurts. Conventional medicines are given from age to age. It is hard for them to acknowledge Western methodologies, for example, immunization and disease screening as they feel the treatment may make them sick and they have no avoidance against it. Haitians accept that torment influences the entire body framework and due to that they are much of the time not ready to disclose to you where the torment originates from. They additionally may go to the doctors office and be obscure about what's up with them since they consider everything to be the equivalent (Salisbury.edu), either common or heavenly. All disfigurements are considered welcomed on by a shrewd soul. Haitians who have a ceaseless disease are thought about by loved ones, they only here and there go to a nursing home. On the off chance that they get the chance to get back they will take care of the spirits by having a Thanksgiving custom. Haitians additionally accept that a wheelchair implies they are exceptionally debilitated and they will misconstrue on the off chance that it is advertised. Haitians don't discuss organ gift, nor do they have faith in organ transplant. Pre-natal consideration isn't a sickness so there are in all likelihood no pre-birth care visits and it might be exceptionally troublesome. Professionals A large portion of the lower class in Haiti trusts in Voodoo and that involves about 85% of the populace. They do rehearse Christian convictions simultaneously. There, as indicated by the Haitians isn't just a noticeable world yet a profound world. The spirits of the perished make up both great and awful spirits. Generally when there is a disease the Haitian goes to see the Hougan who can be a channel to the Loas and give a fix. In the event that the patient has visited the Hougan a few times and isn't better, they might be alluded on to the doctor (Miller, 2000). On the off chance that a patient is in the emergency clinic here in the United States, they might need to return to Haiti to see a Hougan, particularly is they are not beating that. Doctors inside the network of professionals to treat Haitians must do what they can to comprehend the social centrality of a significant number of these convictions so as to complete screening and preventive consideration. Chronicity and Psychiatry The job of the otherworldly is a lot of a piece of Haitian culture. They feel that incessant sickness just as mental ailment is brought about by the extraordinary. Gloom, psychosis, powerlessness to perform exercises of day by day living and scholarly underachievement may frequently be viewed as a revile or a spell set on them. They regularly feel this happens in light of the fact that they didn't buckle down enough of didn't accomplish something they ought to have done (Astrid and Shiela, 2002) and didn't. They may feel they were lethargic or that somebody had resentment and gotten a spell on them through a malevolent soul. Patients who are incessantly sick are typically thought about at home by loved ones: nursing homes are rarely utilized. It ought to be recollected additionally that offering a Haitian a wheelchair is equivalent to telling they are sick and may not beat that (Salisbury.edu) In reality, the Haitians manage numerous interminable diseases due
Saturday, August 22, 2020
Web Taxation and the Expansion of E-Commerce Web tax collection is an issue concerning various parts of the Internet and its burdening. The expenses include: (1) charges forced upon Internet get to charges, (2) deals charges charged to online organizations offering to different organizations, and (3) deals charges charged to purchasers purchasing from a business. This is a significant issue as Internet deals proceed to increment and as more business is directed over the Internet. Along these lines, income isn't being siphoned into state and nearby economies as much for absence of buying at neighborhood stores, and economiesÃ¢â¬â¢ incomes are enduring therefore. Duties could be forced on Internet buys, yet this would thusly influence those organizations who lead their business on the web, either business-to-business or business-to-customer, and those shoppers who shop on the web. Web Taxation: What it is and Why it is Important As effectively expressed, Internet tax assessment is the inconvenience of expenses on Internet get to charges and duties that could be added to merchandise, administrations, properties, and data bought over the Internet. In 1998, Congress passed the Internet Tax Freedom Act which set up an Advisory Commission on Electronic Commerce. This Commission was set up to examination government, state and neighborhood, and global tax collection and duty issues concerning buys over the Internet, and everything else alongside electronic business. Electronic business, or online business, is Ã¢â¬Å"any exchange led over the Internet or through Internet get to, containing the deal, rent, permit, offer, or conveyance of property, merchandise, administrations, or data, regardless of whether for thought, and incorporates the arrangement of Internet access.Ã¢â¬ (The Internet Tax... ...mmission on Electronic Commerce, Mar. 8, 2005, http://www.ecommercecommission.org/ITFA.htm Lassman, Kent 2001, The Internet Tax Freedom Act: Congress Could Put an End to Tax Disarray, The Federalist Society, Mar. 8, 2005, http://www.fed-soc.org/Publications/practicegroupnewsletters/media communications/tc020102.htm Maguire, Steven Dec. 12, 2000, RL30431: Internet Transactions and the Sales Tax, Congress, Mar. 8, 2005, http://www.ncseonline.org/NLE/CRSreports/ Science/st-65.cfm?&CFID=19433234&CFTOKEN=43272686#_1_3 Nellen, Annette Sept. 26, 2001, Overview to E-Commerce Taxation Issues, San Jose Silicon Valley Chamber of Commerce, Mar. 8, 2005, http://www.cob.sjsu.edu/ facstaff/nellen_a/ECTaxUpdate9-01.doc Assessments Background on Internet Taxation, January 2001, Association of American Colleges, Mar. 8, 2005, http://www.aau.edu/sheets/InternetTax.html
Monday, July 27, 2020
This Day, the Year I Applied November 20, 2013. Precisely 23 days until my first application decision. 22 days after the first application submission. 40 days until the next application deadline. 2 years ago. Back then, those numbers mattered. Friday, December 13, Early Action decision day, was to be âthe day my life will never be the same.â The prospect sent me into shivers and made the room burn. Whatever manifestations of worry there are, I felt them. From sudden cold rushes at the thought that Iâd only taken X number of APs to the warm spreading feeling of âbut Iâve taken X number of APsâ (I didnât actually think that last one, but the juxtaposition holds). And you know what I think about that now? I donât. And what I regret? Defining my senior year by the future of college. I canât tell my past self to stop worrying. Nor should I. Worry was inspiration. Itâs why I began my essays early and ended editing them late. Why I inspected every bit of my inner self for flaws and merits. Why, on December 13, I had to stop myself from trembling with the thought that Iâll get by no matter what the message in the email said. And I wasnât lying when I thought that. Iâd probably go to a local state school and maybe apply for transfer in the spring. Iâd have a plethora of extracurriculars. I wouldnât get freaked out about classwork. Iâd have class at 9 am and Iâd have to go to bed early. This is all pure speculation, of course. But in the alternative vision, Im happy too. Happier? Possibly. In this Universe, I canât tell. Sometimes I return to that vision. Itâs enticing. Not abysmal, as it seemed two years ago. I was very wrong about it then. I was mistaken also to think that college, particularly which college, defines the future. Now it feels like a hateful thought. Iâd go back and punch myself into a proper senior existence if I could. Tell myself what I actually want to remember from that November. Talk of all the miserable and joyful days at MIT. Ultimately, they average out into happiness. And that wouldâve been the case no matter where Iâd gone. Two years ago, my college essay was a letter to the future, to be read in five years. But hereâs what I want to remind the November 2013 past: Remember your social studies elective, Plains Indians? Where you got an F on the fire-building assignment? It felt silly and enlightening then to recognize that twelve years of school did not prepare you for a basic survival skill. Your group was the only one who failed. And another class day, you and your classmates lay in the woods for an hour, meditating in a special way. You watched a spider scurry gracefully over the autumn leaves and avoid your hand. You fell asleep on the foliage. You never wanted class to end. After every Plains Indians class came the American Dream class. It was a very different course. You read books with lengthy descriptions of the prairie. You discussed local culture. You learned about the American Dream, became uncomfortably aware of white picket fences. Langston Hughesâ âHarlemâ was your favorite poem (âWhat happens to a dream deferred?â). Then there was College Composition. The schools cultural phenomenon. A class all seniors expected and feared. You even fear it in 2015 somewhat because the ten College Comp rules still haunt you in your writing. You canât break them without a guilty conscience. Just canât. College Comp was also the class for which you had to meet all the new students. Talk to the freshmen and transfers, learn their names. At the end of the semester, there was a quiz on that. It meant nothing on the larger grading scheme, but to you and your classmates it was a huge assignment. You all remembered being freshmen. The support and friendship of high school seniors was super cool. Because you went to an alternative school, you also got to teach a class, Joy of Mathematics. So much fun it was! The grandest moment of your senior existence was on the day your supervising teacher took out his newest projector/camera and you went into the schoolâs central space, rolled a piano to the middle, and projected the keyboard onto the giant wall. Then you and your students learned the math of music. And everyone got a chance to project their hands up above. Life outside of class was beautiful too. After peer-review sessions in College Comp, you solidified senior friendships, and you wrote surprise letters to each other (you still do). You escaped school (legally) during lunch to go to Wendyâs. You had a senior bonfire where the director gave a speech that made you cry. You went on a senior retreat to a camp on top of a hill and at night the woods around were spooky and fabulous. Below the hills was toxic waste. So you ventured to the top instead and trembled at the creaking trees. Then you and your classmates shared your favorite songs in a cozy cabin with warm pizza. On that night, you all realized you couldnât figure out life. Iâve lost track of those memories after blog posts about college and college applications. I lost precious moments during senior year as well when worry erased the important bits of the day. The admission process seems like a lame evil now. It was important once, but I greatly exaggerated its value then. In the spring, while I fretted over the right button to press, some of my classmates spoke excitedly about following their vocational dreams or taking a gap year on foreign soil. I donât want to be the person with the button anymore. On the blogs, we often talk about applying, and choosing, and submitting, and preparing. But if youâre a senior right now, thatâs not what ought to matter. Do not apply to MIT because your life goal is to go to MIT. Apply because you enjoy something, even if that something is ephemeral and vague, and MIT is on a path to it. Not the only path. Not even the definitive path. Iâve gotten several emails this semester asking me, âShould I apply to MIT ifâ¦?â Iâm not an expert in this matter, nor can I pretend to be (trust me, I have approximately 0-1% of my life figured out). But If I had to answer that question, Iâd consider what I want beyond the application. Ask yourself, why do you want to apply? Are you ready for either application decision? A yes can be heavy also. There is no formula to predict the outcome (this one coming from an expert, here). If MIT is a relevant step on the path towards your dreams, go for the application. No harm will come. In the meantime, donât think about your year in terms of buttons and short responses and numbered lines. The grocery store aisles are colored festive. Thereâs limited edition egg nog and pumpkin spice. Youâre in the final days of autumn. The final months of seeing all your high school friends together. Two years later, what will you remember? P.S.: Thank you, Lydia, for the awesome blog prompt!
Friday, May 22, 2020
Title: Are the colours of MMÃ¢â¬â¢s evenly distributed in a bag of MMÃ¢â¬â¢s? Purpose of Project / Aim: Probability is an educated thought or guess to determine if a particular event will occur. Probability is important to assist in making and predicting everyday decisions; the probability that a child will be born with sickle cell disease or the probability that crops will die are all important for the human survival. The use of MMÃ¢â¬â¢s is to substitute for the examples listed above to examine probability considering they are used in everyday life and are therefore readily accessible. When individuals consume MMÃ¢â¬â¢s, they indentify particular colours and this can be related to probability. Calculating the probability of a particular colourÃ¢â¬ ¦show more contentÃ¢â¬ ¦Standard deviation = 10.1 Based on the calculations, the standard deviations observed did not support my theory of the standard deviation being close to zero but it supported the theory that there was not even distribution of MMÃ¢â¬â¢s. It was expected that larger data would be closer to zero, however
Saturday, May 9, 2020
Past Edward L. Thorndike is known as a very instrumental scientist within the field of psychology as he contributed well over 500 articles throughout his career. Thorndike earned a Bachelors degree from Wesleyan University in 1895, where he then decided to go to Harvard University with the intention to study literature. He then studied William JamesÃ¢â¬â¢s version of The Principles of Psychology, which he found interesting and enough reason switch his focus to psychology (Daniel, 2000). William James had apparently decided to stop studying experimental psychology, which influenced ThorndikeÃ¢â¬â¢s decision to attend Columbia University instead. Columbia University appeared to have been a positive alternative for Thorndike as he was offeredÃ¢â¬ ¦show more contentÃ¢â¬ ¦He completed other types of experiments that included generalization and discrimination techniques to determine the limitations of learned associations (Stam, 1998). Ivan P. PavlovÃ¢â¬â¢s father was a priest in R ussia and Ivan Pavlov began his studies in theology in a church school. Why move from God to Science? Betrayal! He began studying at the University of Saint Petersburg where he focused on chemistry and physiology. Known for his research with animals, he contributed a lot to the field of experimental medicine and to the field of behavior analysis. In 1904, he was awarded the Nobel Prize for Physiology or Medicine for his experimental work regarding to digestive system (W. Horsley, 2012). Throughout his career, he remained ambitious. He was chosen to be a leader in multiple organizations including becoming the Head of the Department of Pharmacology of the Military Medical Academy and Director of the Department of Physiology of the Institute of Experimental Medicine. While he was a leader within those organizations, he studied the nervous system and contributed to the experimental field (Markov, 2008). Pavlov spoke against the political figures of that time and communism in general. H e was extremely well known, which helped him immensely by keeping him alive since a lot of the people he worked with who were also against communism died for voicing their opinions (Marks, 2004). Pavlov is most well knownShow MoreRelatedPsychology1586 Words Ã |Ã 7 Pages Plato believed that some knowledge is innate while Aristotle believed that the ability to learn depended on experience, however neither were able to prove their theories with concrete evidence. As time went on and psychology became more widely known, more theoretical approaches to psychology were introduced. Freud established the psychoanalytical theory, which emphasized the importance of the unconscious and how it shaped how humans behave. While Freud did use psychoanalysis to attempt to bringRead MoreA Critique of the Behavioural Theories of Learning4629 Words Ã |Ã 19 Pagessciences, and conducted experiments to understand how people and animals learn. Psychologists have tried in the past to define and e xplain how learning takes place. Two of the most important early researchers were Ivan Pavlov and Edward Thorndike. Among later researchers, B. F. Skinner was important for his studies of the relationship between behaviour and consequences. They are also known as the Behaviourists. According to them, learning can be defined as Ã¢â¬Å"the relatively permanent change inRead MoreA Critique of the Behavioural Theories of Learning4640 Words Ã |Ã 19 Pagessciences, and conducted experiments to understand how people and animals learn. Psychologists have tried in the past to define and explain how learning takes place. Two of the most important early researchers were Ivan Pavlov and Edward Thorndike. Among later researchers, B. F. Skinner was important for his studies of the relationship between behaviour and consequences. They are also known as the Behaviourists. According to them, learning can be defined as Ã¢â¬Å"the relatively permanent change inRead MoreHbr When Your Core Business Is Dying74686 Words Ã |Ã 299 Pagesborder s, the engine of innovation is ignited, prosperity is fueled and the energy available to everyone inc reases. At the same tim balancing the needs of e, producers and consum ers is as crucial as increa sing supply and curbin g demand. Only then wil l the world enjoy energy peace-of-mind. Succeeding in securing energy for everyone doe snÃ¢â¬â¢t have to come at the exp ens start to think differently e of anyone. Once we all about energy, then we can truly make this promise a reality. $15 hips over ketRead MoreOverview of Hrm93778 Words Ã |Ã 376 Pagesconsistency and equity within an organization. Consistency is particularly important in compensation and promotion decisions. When managers make compensation decisions without consulting the human resource department the salary structure tends to become very uneven and unfair promotion decisions also may be handled unfairly when the HR department does not coordinate the decision of individual manger. e. Expertise Now a days there exist sophisticated personnel activities that require special expertise.
Wednesday, May 6, 2020
AD Printing Revolution in Fashion Industry Last week, I went to London Science museum, there was an exhibition of AD printing showing the completely new image of fashion in the coming 20 years. AD printing has been developing rapidly, now it is way more than printing plastic. It prints something that I cannot even believe: structural thing like house, complicated thing like gun, huge thing like rare plane and guess what, lively tissue. We will write a custom essay sample on 3D printing revolution in fashion industry or any similar topic only for you Order Now As AD printing becomes more mainstream, its applications are broadening (Rachel 2013). It started to hit the roll of fashion, besides AD printed handbags, dresses, we can see AD printed high- heel shoes and bikinis in the latest fashion shows. As Stephanie (2014) mentioned, the mix of apparel and technology shows the innovative soul of fashion, the future of fashion is truly tricked out with AD printing technology. As this evolution continues we can expect to see a AD printing revolution in our fashion industry. In the following sections, this essay is going to illustrate the revolution in production, supply chain and design aspects. Beginning with the first step of manufacture, production method in fashion field will e totally changed. According to some researches, 10% of all consumer products by the year 2025 will be made by the AD process. Richard (2013) discussed that since applications of the technology spread and prices decrease, more products will be manufactured at their location of purchase or consumption. Indeed, consumers will be printing their own clothing by 2020, according to inventor and futurist Ray Skuzzier (Tanya 2013). This implies that new household-level production will emerge. On top of it, production will no longer includes labor force, capital, natural resources, UT only the printing machines, raw materials and programs which lead a huge reform. Based on the change of production method, the supply chain will eventually be modified. Ã¢â¬Å"The world will transform from a macro-manufactured supply chain to a micro-manufactured supply chain or what is known as distributed manufacturingÃ¢â¬ (Nick 2014). Whereas cars today are made by Just a few hundred factories around the world, they might one day be made in every metropolitan area. The supply chain is going to be shortened as only machines and programs are involved, the whole supply chain may even only appear in our home. As the supply chain will undergo a makeover, certain categories of business will be eliminated. Countries will rather do domestic production than import since production will no longer require so much labors and places, shipping, delivery and inventory service will then go downhill. Before, the Internet technology has already overturned many traditional business models, so now the AD printing technology is going to revolute the fashion industry into a new era. Nature of design will be adjusted due the altered producing methods. Customization of goods is more significant due to maker can simply adjust the aerogramme (Richard 2013). As AD printing can solve some practicable problems of creative products, so it actually encourages the creativity in meeting individualsÃ¢â¬â¢ need. The Job of designer will change as they have to know well about technology and design the products with programmer, or even, everyone can become a designer. What Rachel (2013) mentioned is this kind of intersection of fashion and technology can give everyone access to creativity. People will be designing clothes for themselves which they know their size and style the best, so they can create personalized clothing. If you do not want to spend time on making your own AD printing programmer, you can simply buy it online as what we are doing for music file, consumers would pay a fee to download and print the renderings, Ideas may eventually never produce sportswear, but simply sell the format to print Jersey and sneaker. Due to this, keen competition between the brands will be stronger, millions of designers are compete to produce a tremendous variety of objects. Some researchers start to doubt whether AD printing will be widely spread since customized products may be more expensive than traditional mass-produced goods, ND spend longer time as well (Ashley 2010). And actually, since the technology is improving and supply increased, according to the scale of economy, the price of machine and materials for printing are eventually dropping. CNN did an experiment in 2013 that compared buying 20 items like phone case, spoon holder to the cost of printing them out directly. The result is, it took 25 hours to print all the objects and they saved up to $1926, depending on the quality of the comparable retail products. So we can definitely imagine all the time cost and price will be reducing by 2020. As what Nick (2014) pointed out, we are at the beginning of a revolution that will transform our society in ways we canÃ¢â¬â¢t even imagine. How to cite 3D printing revolution in fashion industry, Essays
Tuesday, April 28, 2020
Introduction The word capitalism is derived from the word capitale which evolved from capital meaning Ã¢â¬Å"headÃ¢â¬â¢. Most economists are of the opinion that the word capital became common during the 12th century. The term was used to refer to a number of elements such as funds, interest on funds or a stock of various merchandises.Advertising We will write a custom essay sample on Understanding Economics: the nature and logic of Capitalism specifically for you for only $16.05 $11/page Learn More Capitalism is an economic system which is also considered to be a liberal market. Alternatively, capitalism can be defined as an economic system through which production is conducted privately. In capitalism, the market is free and hence it is not controlled by the government of that economy. Therefore, in a capitalist economy, the price, demand, supply and the distribution of goods and services are determined by the market forces. In addition, in a capit alist economy, individuals have the right to own property. In a capitalist economy the wages and salaries are paid to the employees by the business which has employed them. Profits resulting from the business operations are wholly owned by the investors. This means that investments within a capitalist economy are not in any way under government control. Capitalism can also be defined as accumulation of capital with the objective of investing it in certain economic sector. Miles suggested that capitalism started in Europe in the 16th century and it has gradually spread to other western countries during the 19th and 20th century. Currently capitalism is practiced in a number of countries around the world since it enhances economic growth and development. This essay outlines a description of the nature and logic of Capitalism as given by Heilbroner. Additionally, the subsequent discussions support HeilbronerÃ¢â¬â¢s analysis of Capitalism as given in his Book. The nature and logic of capitalism according to HeilbronerÃ¢â¬â¢s analysis There is no universally accepted definition of the word Capitalism. Many scholars have tried to give a clear-cut definition of capitalism. However, it has been noted that they end up contradicting ideas of others while others choose to avoid defining it all together. There are various economists who have contributed their views on capitalistsÃ¢â¬â¢ economy. Some of them include Karl Marx in his Marxist theory, Max Weber in his Weberian political sociology theory, the neoclassical economic theory and Keynes in the Keynesian economics among others. In all these theories, there are a number of elements of Capitalism that have been observed by these economists. Their ideas on Capitalism include the fact that the production of goods and services, payment of wages, control of profits and prices in the market are all controlled by private investors and not the government. Therefore, the ultimate goal of capitalism is accumulation of capital which has been shown to be more than the money invested in most cases analyzed. This is in line with the HeilbronerÃ¢â¬â¢s analysis in which the author states that, in a capitalist economy the producers aim at making profits. These profits are determined by the prices of the commodities and the cost of production that the producer incurred during the whole process of production and creation of goods and services.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Capitalism can be considered from various perspectives such as from the economistsÃ¢â¬â¢ viewpoint, the political economistsÃ¢â¬â¢ viewpoint or from the historianÃ¢â¬â¢s perspective. As shown above, the economist refers to capitalism as the market situation whereby the government has no control over the prices, costs, wages, profits and the rights to property ownership. On the other hand, the political economistÃ¢â ¬â¢s idea of capitalism is that there is private ownership of property in the market. In this case, the market players are classified according to their economic power and class. Additionally, the political economist views capitalism as a market situation characterized by wage labor. Therefore, in a capitalist economy, economic power includes the purchasing power, monopoly power, managerial power and bargaining power. Wage labor refers to the concept where the employee is involved in full-time labor or his/her services are sold to the employer in exchange for wages. The end-product of the employee in this case becomes the property of the employer. The economic class referred to in this case includes the upper classes, the middle classes and the lower classes. Considering the two perspectives, one thing is obviously common between the two. It can be said that capitalism is a system that encourages amassment of income and wealth just like a magnet attracts iron filings. In the pe rspective of the two viewpoints, Heilbroner suggested that the capital amassed is not the end-product which is produced in terms of a good or service but rather capital is the continuous expansion of the firm or the private property. In this case, capital is considered as the continuous process of expansion of the firm. In order to ensure a continuous expansion, the firm or private property owner should make profits and not loses. It is thus true that capital accumulation is the continuous process of expansion of a business. Various economists such as Marx and Weber understood capital as the initial amount of money that an investor uses to start a business enterprise while the amount of money which helps the business to continue in its operation is referred to as the operating capital. Therefore, capital is the amount of money that exceeds the cost of production. It is earned when the selling price of a commodity is higher than the cost of production incurred by the producer. Capitalism as a mode of production has also been analyzed in Karl MarxÃ¢â¬â¢s Marxist theory. As depicted in our earlier discussions, capitalism is characterized by wage labor and therefore production process and profits are controlled and owned by individual employers or business owners. Marx suggested that the commodity market which is a free market leads into a conflict between various classes of people and also contributes to labor exploitation. According to MarxÃ¢â¬â¢s viewpoint, capitalism is an economic system where individuals through buying and selling of commodities make their living. In this case, a commodity refers to a good produced with the objective of being exchanged in a market environment.Advertising We will write a custom essay sample on Understanding Economics: the nature and logic of Capitalism specifically for you for only $16.05 $11/page Learn More The commodities can either be consumer or capital goods8 . Capital goods ref er to products used to produce other goods such as consumer goods. They include land, labor, machines and raw materials. On the other hand consumer goods entail finished goods which are ready for human consumption. Examples of such commodities include cars, houses, books and roads. Therefore, commodities can be described as products of human labor, useful, cannot be separated from the producer and are produced to be exchanged in the market. Money imposes or limits the market value of the commodity. On the other hand, the value of a commodity determines the demand of the commodity in the market. But the initial major factor that influences the value and quality of a commodity is the labor. Since capitalism is associated with wage labor, it is the duty of the business owners to ensure that their employees are well paid and motivated in order to produce the highest quality of goods that can fit into the competitive market. The value of the commodity also determines the price of the commodity in the market. The nature of capitalism is characteristic of a competitive market. In this case, prices revolve around the same point and do not change randomly. The producer operates at a loss if the selling price is below the cost of production. If this persists for a long time, the producer is forced out of the market. On the other hand, when the cost of production is lower than the selling price, the producer earns a profit. High profit levels in a given economic sector have the probability of attracting more investors. Increase in profits, leads to overproduction culminating into a surplus in the market. Surplus of commodities in the market forces the prices to fall due to the law of supply. This is because when supply is high the demand goes down and hence the prices of the commodities also decline. In addition, market prices fluctuate according to the production costs which are mostly influenced by the cost of labor in the market. Therefore, the market fo rces of demand and supply do not influence the value, but rather the value is determined by production. This is in line with the Marxist theory which states that the value of a commodity is determined by the production itself and the level of production is influenced by the labor force which is considered as a capital good. Labor force is a human resource which can either be mental or physical and is applied in production to convert raw materials into finished goods (consumer goods).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Therefore, salaries and wages of the employees should be put into consideration in a business because they affect the quality of production. Marx suggests that the wages and salaries of the employees are determined by the surplus of production and the cost of labor power. Wages and salaries are determined by the number of hours that the employees work per day, the efforts applied or the intensity of labor and how the labor is productive. In a capitalist market, labor can be exploited because many competitors will be employing those people who do not require high amounts of wages. Therefore, the employer takes an advantage over the employees so as to increase the profits and at the same time he pays them low wages. In addition, Heilbroner suggests that when the competition in the market is stiff it would cause the profit to reduce to zero or negative. This is true because when the competition for production is high the producers may decide to reduce the prices of their co mmodities so that they can be able to attract more consumers to consume their products. When the prices are reduced to amounts lower than the cost of production, then the firm suffers huge loss and if the competition is stiff, the prices may become lower until the firm is not able to survive in the market and hence it closes. The factors of production such as land, labor and capital produce wealth or income when labor force is applied. This arises from the fact that labor force is a human resource which is either mental or physical and when applied to capital goods, consumer goods are produced. Therefore, the capital goods are not of any benefit to the firm or the investor until labor force is applied. This has also been suggested by other economists such as Marx, Weber and in the neoclassical economic theory. Finally, in a capitalist market, the capital is influenced by the forces of demand and supply. Other than the market force, capital is also influenced by the way s kills are applied in the production process and how the work is organized. The management structure and the level of technology also influence the capital of a business. This is true because even if demand and supply are high and the management structures are not stable, the firmÃ¢â¬â¢s operations are affected and hence may not be efficient. The same is also true when the technique used is not updated. Conclusion This paper has given an in-depth evaluation of economics of capitalism according to HeilbronerÃ¢â¬â¢s analysis. In various ways, the research paper supports the idea of the nature and logic of capitalism as outlined by Heilbroner. A capitalist economy refers to a type of economy where prices, production and distribution of commodities are controlled by the market players rather than the government. This makes capitalism to be a free or liberal market. To avoid labor exploitation in a competitive economy the trade unions and the government negotiates with the employe rs on matters related to wages and salaries and on the working conditions of employees. According to the various theories postulated by various economists, capital is the initial amount of money or capital goods that investors use to start a business while profits include the amount that the investors use to expand their business. This opposes the suggestion of Heilbroner because he said that capital is the continuous process of expansion of the business. Heilbroner also states that the management, skills and technology affect the capital of a firm. In general, capitalism leads to economic growth and development. Works Cited Bratton, John, Denham, Davis and Deutschmann, Linda. Capitalism and claddical sociology theory. Toronto. University of Toronto Press, 2009. Print. Corfe, Robert. Social capitalism in the theory and practice: emergence if the new majority. New York: Arena books, 2008. Print. Heilbroner, Robert. The nature and logic of capitalism. New York: W.W. Norton Company.19 85. Print Little, Daniel. The scientific Marx. New York: U of Minnesota Press. 1986. Print Miles, Robert. Capitalism and the unfree labor: anomaly and necessity? New York: Taylors Francis, 1987. Print. Newman, Michael. John Strachey. Manchester: Manchester University Press, 1989. Print. Footnotes Newman, Michael. John Strachey. Manchester: Manchester University Press, 1989. Print. Miles, Robert. Capitalism and the unfree labor: anomaly and necessity? New York: Taylors Francis, 1987. Print. Heilbroner, Robert. The nature and logic of capitalism. New York: W.W. Norton Company, 1985. Print Heilbroner, Robert. The nature and logic of capitalism. New York: W.W. Norton Company, 1985. Print Corfe, Robert. Social capitalism in the theory and practice: emergence if the new majority. New York: Arena books, 2008. Print. Little, Daniel. The scientific Marx. New York: U of Minnesota Press. 1986. Print Miles, Robert. Capitalism and the unfree labor: anomaly and necessity? New York: Taylors Francis, 1987. Print. Bratton, John, Denham, Davis and Deutschmann, Linda. Capitalism and claddical sociology theory. Toronto. University of Toronto Press, 2009. Print. Little, Daniel. The scientific Marx. New York: U of Minnesota Press. 1986. Print Newman, Michael. John Strachey. Manchester: Manchester University Press, 1989. Print. Miles, Robert. Capitalism and the unfree labor: anomaly and necessity? New York: Taylors Francis, 1987. Print. Miles, Robert. Capitalism and the unfree labor: anomaly and necessity? New York: Taylors Francis, 1987. Print. Miles, Robert. Capitalism and the unfree labor: anomaly and necessity? New York: Taylors Francis, 1987. Print. Newman, Michael. John Strachey. Manchester: Manchester University Press, 1989. Print. Heilbroner, Robert. The nature and logic of capitalism. New York: W.W. Norton Company, 1985. Print Miles, Robert. Capitalism and the unfree labor: anomaly and necessity? New York: Taylors Francis, 1987. Print. Heilbroner, Robert. The nat ure and logic of capitalism. New York: W.W. Norton Company, 1985. Print Miles, Robert. Capitalism and the unfree labor: anomaly and necessity? New York: Taylors Francis, 1987. Print. Heilbroner, Robert. The nature and logic of capitalism. New York: W.W. Norton Company, 1985. Print This essay on Understanding Economics: the nature and logic of Capitalism was written and submitted by user Ashtyn Buck to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.