The Importance Of College Education - 912 Words

The Importance of College Education 4. with a college education young adults are more likely to make more money or have better pay jobs than those without a higher education. In the article, â€Å"More Students Getting Graduate Degrees† writer Cecilia Capuzzi states that â€Å"in every academic major group, more education resulted in more money(2). With this said the more Knowledge and education a person gains the more likely they are to be financially successful. A person with an associates, bachelors, or master’s degree will be more financially successful than those without a higher education. In fact, only 14 percent of people with a high school diploma earn more than the median worker with a college degree (Halton 1). The chances are of becoming financially successful are less likely to happen to those who have only graduated from high school. College graduates even tend to earn more if they take the same job as someone with only a high school education (Halton 2). 5. The economy today is very competitive in the workforce and employers are more likely to hire someone with a college degree. The degree signals to employers that recipients can complete a demanding program and that they have already been vetted by an institution (Capuzzi 1). Having a college degree also stands out to employers letting them know that they are highly skilled and that they are also reliable. The more experience and education an individual has the more likely they are to get hired. Employers look forShow MoreRelatedThe Importance Of College Education1142 Words   |  5 PagesJacartier McGee Education is the single most important factor in the growth of our country. Specifically, higher education paves a future and provides opportunity for students that attend college and gives them a shot at a career. 50 years ago, college was strictly for the elite, high class Americans. Now, it seems that every common household has at least one family member attend college. But with the increasing drop out rate today, students seem less interested in learning at college and their prioritiesRead MoreThe Importance Of A College Education? Essay1692 Words   |  7 Pages A college education has a different meaning for every person in the world. To someone a college education could mean that they’re smarter than most, or it’s one more step closer to their future goals, or it could just be another piece of paper to make their family proud. The importance of a college education depends on what a degree means to the person. I think the true purpose of a college educ ation should be base more on a personal level, and not a broad level. The reason why I thinkRead MoreThe Importance Of College Education1257 Words   |  6 Pageswhen deciding whether to go to college or which college to attend. The importance of college has been a long-debated topic that is becoming more and more popular. It used to be that a high school education was necessary to succeed, and a college degree was merely beneficial. However, today college has escalated into something that is considered necessary to succeed. New York Times columnists, David Leonhardt, states that â€Å"if youre someone who can get into college, going is practically a no-brainerRead MoreThe Importance Of A College Education?1419 Words   |  6 PagesZhao English 101C Professor A.Pino Nov 13th 2017 The importance of a college education In the period of their high school career, the students shall begin to ask and consider the college education’s importance. The answer is that the accepting college education offers chances to graduates, which are more widespread to those who have the levels of senior high education or less. Most of people understand that they desire to accept a college education, but they do not know why or how it would fulfillRead MoreThe Importance Of A College Education1511 Words   |  7 PagesFor many Americans, a college education is essential to future success.† His statement taps into one of the biggest issues in America. While education is a strong value in this country, after high school, the percentage of people getting an education dramatically drops. Although many people choose to not go to college, there are also many people who do not go simply because they cannot afford it. Without the skill set that one acquires during these crucial years of education, many Americans thenRead MoreThe Importance Of Education In College924 Words   |  4 PagesGonzalez from Resilient Scholar is helping me also by guiding me towards help and tutoring. I am currently taking two summer courses at Glendale Community College through a special program   EOP is hosting there.   Geology 101 and Astronomy 152 is what I am currently taking at GCC. I have met with Dr. Joong-won Lee a very respected professor in the College of Health and Human Development, and he has helped my set up a plan of which courses I should take until I graduate from Csun. He helped me make a veryRead MoreThe Importance Of College Education756 Words   |  4 Pages140 colleges/institutions in the United States today as confirmed by infoplease.com and job options are endless. These institutions offer people a â€Å"gateway† to achieve long term success. In today’s society, there is the ongoing debate on whether or not college is worth it. Various valid points are brought up from ea ch side. These points are what make this topic so debatable. Although there is a debate on whether a college education is worth it or not, in my opinion the answer is clear. College educationRead MoreThe Importance of College Education705 Words   |  3 Pageswhether or not to attend college can be difficult, especially given the tremendous costs associated with tuition, books, and campus living. Moreover, getting a good job or earning an attractive income is not necessarily guaranteed with a college degree. The decision of whether or not to attend college must come from within, and must transcend thoughts about money. For me, going to college represents a genuine personal feat. There are three main reasons why college education is important to me. FirstRead MoreThe Importance Of College Education1138 Words   |  5 PagesCollege Education 1. INTRODUCTION My issue is the debate if college education is worth it. Many people think going to college is the ideal thing to do but there is also people who think college is not worth all the time and money. In 2016, the employment rate was highest for young adults with a bachelor’s degree or higher, 88 %. College prepares young adults for the real world and everything they need to know. Typically, college graduates have higher employment rates and have a better chanceRead MoreThe Importance Of College Education1593 Words   |  7 Pages Most parents encourage their children to achieve a college degree because they believe it is a passport to success. Nationwide it has been known in order to get ahead, go to college. College helps young adults socialize, be independant, and allows them to find themselfs. College graduates have been known to posses higher employment rates, and greater work benefits. Also, college can be a huge milestone in ones life. That being said, these are most likely the reasons why the majority of high school

The Fallacies Of Callahan s Arguments - 1550 Words

Philosophers throughout history often have a pessimistic outlook on life. Socrates, Lucretius and Epicurus are just some of a number of philosophers that argue against the liberal view of life. Daniel Callahan is a contemporary philosopher that explores the role of medicine in modern society. Callahan argues against the liberal view of life by saying that people should focus on living full and fitting lives. In the first section, titled The Fallacies of Callahan’s Arguments, I explore the problems with his ideas and show that his argument does not justify setting a limit to human lives. In The Argument for the Continuation of Life, I argue for the liberal view of life and support it with Christine Overall’s views. Human beings should be able to extend their lives as they see fit and setting limits based on anti-life extension ideas would go against the individual’s right to choose. THE FALLACIES OF CALLAHAN’S ARGUMENTS: Daniel Callahan begins Chapter three with a critique of the modern state of medicine; he believes that medicine has placed too much effort on life extension. Callahan then tries to determine the goal of medicine through his beliefs. He states, â€Å"I want to argue that medicine should be used not for the further extension of life of the aged, but only for the full achievement of a natural and fitting life span and thereafter for the relief of suffering† (Callahan, 53). In his thesis, he states that he believes that medicine should only be used for the relief ofShow MoreRelatedContemporary Issues in Management Accounting211377 Words   |  846 Pagesglobal management accounting community. Alnoor Bhimani London School of Economics December 2005 CONTENTS ‘ FOREWORD Anthony Hopwood PREFACE Alnoor Bhimani CONTRIBUTORS 1. New measures in performance management Thomas Ahrens and Christopher S Chapman 2. Contract theory analysis of managerial accounting issues Stanley Baiman 3. Reframing management accounting practice: a diversity of perspectives Jane Baxter and Wai Fong Chua 4. Management accounting and digitization Alnoor Bhimani 5. TheRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesand permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290 . Many of the designations by manufacturers

We’ve Had Enough of NAFTA Perspectives in Withdrawing Our Membership Free Essays

After 14 years of existence, the North American Free Trade Agreement (NAFTA) has still yet to prove its worth as an effective regional trade bloc. As an avenue to promote free trade and globalization, NAFTA has been much criticized for its inability meet the objectives and levels of political and economic integration. In this case, the debate of whether the United States should withdraw its membership in the NAFTA or not will enable us to assess the viability of this regional trade bloc in the age of globalization. We will write a custom essay sample on We’ve Had Enough of NAFTA: Perspectives in Withdrawing Our Membership or any similar topic only for you Order Now It was in December 1992 that the leaders of Canada, Mexico, and the United States have given their nods to draft the North American Free Trade Agreement (NAFTA) (OAS, 2008). Approved in the US Congress in 1994, NAFTA the agreement went into effect 1 January 1994 (OAS, 2008). The main goal of NAFTA is to build a framework for North American countries to ease out the trade barriers in order to promote a steady flow of exported and imported goods in the area. Aside from allaying the barriers that hamper trade among the three countries, NAFTA also aims to achieve â€Å"greater openness in the trade of services and in foreign investment†. Another important purpose of NAFTA is to permit â€Å"the three countries to cooperate and coordinate on environmental and labor issues† (Jones, 2003). However, problems began to arise when environmental and labor concerns in this agreement became convoluted. Critics began to scoff NAFTA to be promoting inequality to the region. It is also revealed later that there are trade policies that are questionable that could be proven to be detrimental in the long term perspective. In the globalizing world, it is but logical that most trade groups contain countries in the same area of the world to offer trade agreements, like NAFTA, to obtain mutual benefits. Yeung et al. (1999) offered these reasons why countries form regional trading blocs: 1. Economic Development. Many countries attempt to achieve economic growth by creating their own industries and by embracing a policy of imports substitution. However, many industries encounter problems related to limited domestic markets and the inability to achieve economies of scale. Under these circumstances, many countries pool their resources and create larger markets by integrating their economies. 2. Managing Trade Regionally. Many countries regarded global trade institutions as too bureaucratic and slow in responding to both trade opportunities and trade problems. As organizations expand their membership, they tend to become less responsive to their members, ideological differences proliferate, negotiations take forever, and reaching consensus is often very difficult. Neighboring countries usually have similar cultures and philosophical outlooks. The smaller group can respond faster than the global groups to problems and trade opportunities. 3. Economic Competition. Countries can become far more economically prosperous by forming trade blocs. European countries, for example, viewed economic integration as a way to stimulate trade in Europe. But Europeans also believed that economic growth in Europe would enhance their ability to compete with the United States and Japan. 4. Political and Strategic Considerations. Although trade appears to be the primary reason for economic integration, many countries form trade blocs for political and security reasons. NAFTA reflected a trade-policy response to the regionalization of capitalist competition at a global level. Content rule, tariff reduction schedules, and other NAFTA provisions are designed to favor its members. Premised on an improved capacity to export commodities produced under low-cost conditions in Mexico into the high-price consumer markets of North America, Western Europe, and Japan, NAFTA is an attempt to reclaim economic power in a capitalist world system. Petras and Morley (1995) argue that â€Å"NAFTA is the centerpiece of a new economic strategy †¦ which Washington hopes to use as a springboard for its reemergence as a more competitive player in the world market† (p. 128–129). Moreover, Olson (2005) indicated that NAFTA promised a â€Å"win-win† scenario for Mexico and the United States because having it would mean more jobs and increased wealth, which in turn would bring greater stability to the area and lessen migratory pressures. Indeed, it is undeniable that NAFTA has brought about the sharp expansion of regional trade and investment in the region. From 1993 through 2004, â€Å"US merchandise exports to and imports from Mexico have increased by 166 and 290 percent, respectively† (Hufbauer 2005, p. xxxvii). As Mexico is burdened with gargantuan debt, they regarded this trade agreement with the United States as an essential step in achieving economic development. The United States desired to maintain stability in Mexico and saw abundant and inexpensive Mexican labor as beneficial to U.S. companies that were anxious to gain a competitive advantage over the Japanese and Europeans. Canada, wanting to retain its favorable trading relationship with the United States, viewed economic integration in North America as a way of countering U.S. dominance of the Americas (Vega-Canovas 1999, p. 230). However, NAFTA could not go unfazed without mudslinging from several critics. Jubasz (2004) revealed that the most reliable data available demonstrated how economic globalization of trade like NAFTA has caused the most dramatic increase in global inequality and poverty in modern history. Globalization of trade had only benefited the countries with bigger economies to dominate over economically-challenged countries. The policies of economic globalization such as free trade, financial liberalization, deregulation, reduced government spending, and privatization had concentrated wealth at the top. It had tried to removed from Third World governments and communities the very tools needed to ensure equity and to protect workers, social services, the environment, and sustainable livelihoods. In this way, economic globalization and its institutions—including the International Monetary Fund (IMF), the World Bank, the World Trade Organization (WTO, and the North American Free Trade Agreement (NAFTA), have created the most dramatic increase in global inequality—both within and between nations—in modern history and have increased global poverty. More specifically, NAFTA has been accused to have caused the environmental degradation in Mexico.   Gallagher (2007) observed that â€Å"rises in income have been small and environmental degradation has been large† in Mexico since the NAFTA was established. Costly environment degradation is slowly eating away the natural resources because the proper mechanisms were not put in place to help Mexico manage its economic growth in an environmentally sustainable manner. To keep at pace with NAFTA, Mexico doubled spending on environmental protection and started a much-needed industrial environmental inspection program. However, shortly after NAFTA was signed and fiscal and financial woes set in, attention to the environment are totally ignored. Moreover, labor issues had rocked NAFTA in the 1990s. It had been an issue during Ross Perot’s presidential bid against Clinton and famous claim of an impending â€Å"giant sucking sound† helped frame the political debate, but also alluded to important economic trends that affected them all. Fact is that Mexicans complain of the devastating impact it has had on small farmers in Mexico after being integrated in NAFTA. Dugger (2003) reported that the Carnegie Endowment for International Peace, a research institute in Washington, D.C. filed a report concluding that NAFTA failed to generate substantial job growth in Mexico, hurt hundreds of thousands of subsistence farmers there, and had miniscule net effects on jobs in the United States. Income inequality is greater and illegal immigration continues unabated (p. A9). The World Bank, on the other hand, found that NAFTA brought significant economic and social benefits to Mexico and argued that Mexico would have been worse off without the agreement (Dugger 2003, p. A9). Clearly, there is a big problem with the level of integration among the United States, Canada, and Mexico in NAFTA as compared to that achieved by the European Union. NAFTA, unlike the EU, does not provide for the free movement of people across borders. NAFTA countries pursue their own independent trade, foreign, domestic, and defense policies. Compared with the Europeans, who have given up some aspects of national sovereignty in exchange for European political and economic unification, NAFTA members jealously guard their sovereignty. In this case, there should be strong reforms needed in the NAFTA trade policies to make it more favorable for Mexico. If unfair regulation persists and environmental concerns are still ignored, it is high time that United States should withdraw its membership from the NAFTA because it does not bring the greater good that it promises for the region. Works Cited Dugger, Celia W. Report Finds Few Benefits for Mexico in NAFTA, New York Times, 19 November 2003, A9. Gallagher, Kevin P. In Mexico, Free Trade Has Led to Large-Scale Environmental Degradation. In Miller, D. (Ed). Current Controversies: Globalization. Detroit: Greenhaven Press, 2007 Hufbauer, Gary Clyde. NAFTA Revisited : Achievements and Challenges, Washington, DC: Peterson Institute for International Economics, 2005. Jubasz, Antonia. â€Å"Globalization Is Making World Poverty Worse.† In Balkin, K. (ed.), Poverty. San Diego: Greenhaven Press, 2004. Olson, Eric L.  Divided states of the Americas: human rights and democracy in Latin America: a progress report.  Sojourners Magazine  35.3  (March 2006):  28-34. Organization of American States (OAS). NAFTA. 6 February 2007. http://www-old.itcilo.org/actrav/actrav-english/telearn/global/ilo/blokit/nafta.htm. Petras, James, and Morley, Morris. Empire or Republic: American Global Power and Domestic Decay. New York: Routledge, 1995. Vega-Canovas, Gustavo. â€Å"NAFTA and the EU: Toward Convergence?† in Yeung et al. (Eds.). Regional Trading Blocks in the Global Economy, Cheltenham, UK: Edward Elgar, 1999. Yeung, May T., Perdikis, Nicholas and Kerr, William A. (Eds.). Regional Trading Blocks in the Global Economy; Cheltenham, UK: Edward How to cite We’ve Had Enough of NAFTA: Perspectives in Withdrawing Our Membership, Essay examples

Regulating Natural Monopolies

Question: Discuss about theRegulating Natural Monopolies. Answer: Introduction In this paper, the researcher seeks to investigate and present a detailed explication behind the rationale for governments to wish to establish the price that natural monopolies charge at the level whereby the demand curve (D=AR=P) intersects the average total cost curve (ATC). Understanding Natural Monopolies Government Regulation The main challenge with monopolies is that when they are left uncontrolled by the government, they will most probably decide to undertake production at an output level that is far lower and offer products at prices that are extremely higher compared to those from virtuously competitive sector (Berg Tschirhart, 2010). A natural monopoly shall produce at point at which the price charged is above he MC, showcasing resources under-allocation towards commodities. The monopoly limits the output and raise its price and in so doing, he is assured a maximum profit, though at a societal cost of less overall consumer welfare or surplus. Surprisingly, in certain industries, due to vast array of output upon that economies of scale are witnessed, it makes increasing sense sometimes for solely one firm to partake. Those markets remain regarded as natural monopolies and certain instances include cable television, along with natural gas besides other industries which have vast economies of scale (Braeutigam, 2015). Government regulators are trapped in dilemmatic setting in speaking to natural monopolistic businesses like electricity sector. An electricity firm that has a monopoly in a given marketplace shall anchor the price along with output decision on profit maximization law which every unfettered business shall; it shall generate at a point whereby their MR equates their MC. The challenge is for a natural monopoly since MR is below price charged, that implies that maximizing profit output level (whereby MC=MR), MC will be below price: proof of allocative inefficiency that is never sufficient electricity shall be generated and price shall be extremely abnormal for certain customers to acquire. In this manner, the need for government regulation arises. The government concerned with acquiring the right quantity of electricity to the right quantity of the individuals (allocative efficiency) might decide to establish a price ceiling for electricity at a level at which the price equates MC of the firm. This, nevertheless, shall probably be underneath ATC of the firm taking in mind that ATC drops over a vast array of output, a setting that will culminate to losses for a business, and might result into collapse. Therefore, many administrations have established a price ceiling whereby price is equivalent to ATC of a firm, implying a firm shall break even solely earning a normal profit substantially merely sufficient to enable the firm run the business; this is regarded as fair-return price. As show above, government regulation of monopolies is meant to only allow the monopolies to gain the normal profits. It is clear that this can only be achieved at a point whereby administration creates price charged by natural monopolies at a point whereby the demand curve intersects the ATC curve where firms can break even. This will make the monopolies to only obtain the revenues required to cover the monopolys total amount of variable and fixed expenses during a given period of time. The administration might decide to undertake regulation of natural monopoly to safeguard interest of consumers. For instance, monopolies enjoy market power for establishing higher prices unlike competitive markets. The administration have various options to choose from when regulating the monopolies including price capping, barring the monopoly power growth and yardstick competition. Reasons for Government Regulation The government will regulate monopoly to bar excess price from being charged by monopolies. In the absence of administration regulation, natural monopoly might place price beyond. This will culminate into allocative inefficiency hence a drop in consumers welfare. The government also regulate to ensure better service quality. In case a natural monopoly enjoys a power over a given service provision, it might have less incentive to provide good service quality. The administration will thus regulate to make sure that the monopoly firm meet the minimum service standard. The government will also regulate to control the monopsony power. For a monopoly firm, it will be well placed to abuse the buying power of monopsony. For instance, supermarkets might utilize their overriding market location and hence squeezing farmers profit margins. The regulation will also be done to indorse competition. In certain businesses, it is conceivable to promote competition, hence there shall be little sense for regulation by government. The government also regulate due to natural monopolies. Certain sectors are natural monopolies and hence because of huge economies of scale, it will be supremely efficient to only have one firm. Accordingly, there is no need for encouraging competition by the government and hence it is indispensable to regulate firms to bar the exploitation of the power of monopoly. Average Cost Pricing The government uses price capping to regulate the monopolies from charging the high price above that of a competitive market. For example, for freshly privatized industries like gas, water and electricity, the administration has established regulatory agencies including OFGEM (electricity and gas markets), OFWAT (tap water) and ORR (office of rail regulator) in the United States. These bodies undertake to limit the surges in prices. The average cost pricing is helpful in this case. This is the regulatory described as the enforcement of a price point for a particular commodity which equals the entire costs sustained by monopoly providing or producing. Such an approach is used by the government to reduce the flexibility of the monopoly which makes sure that monopoly cannot capture the margins beyond and above what is reasonable (Train, 2011). In this way, the government is able to eliminate the threat that consolidating an industry into one single suppler pose to the free market along with their customers since it limits the manipulation of the price by monopolies through a comprehensive control of the supply. In this sense, the government will minimize monopolization alongside maintenance of competitive equality. Accordingly, the government will ensure that monopolies do not lower that economic output of a given society and hence its wealth by regulating the prices charged by the monopoly to a point whereby demand curve crisscross ATC curve to bar a natural monopoly from profit maximization rather than fair returns or normal profits (Posner, 2014). Price Regulation For a competitive firm, the profit maximization takes place where the MC is equals to price at the market. Nevertheless, because ATC of a natural monopoly drops repeatedly, the MC shall normally be smaller than ATC. This is because the ATC describes average entire costs encompassing vast fixed costs whereas MC is solely additional cost of generating an extra unit. Accordingly, a natural monopoly shall recurrently lose cash in case price charged is restricted to its MC (Loeb Magat, 2014). The government comes into play to dictate the better regulated price which would that which permits the monopoly to alter the price denoted as fair-return price sometimes which equates to the monopolys ATC or the normal profit as show in the diagram below. The above price would permit the natural monopoly to endure as a going concern. Nevertheless, it would fail to incentivize the monopoly firm owners to reduce costs. Therefore, this kind of the government regulation of monopolies could be improved by permitting a natural monopoly to maintain certain profits received by decreasing costs (Gmez-Ibez, 2013). It is acknowledged that not such a price is beneath price charged by monopoly which maximizes profits, which sets the price equivalent to level at which MC=MR Conclusion It is apparent from the deliberation above that certain commodities can be offered at a lower cost by natural monopolies than competing firms. The primary feature of a natural monopoly is that its ATC diminishes continually over any amount demanded by the market. In case the sector has a vast fixed cost, a single firm will offer commodity at a point far lesser cost compared to numerous firms. This is due to the fact that ATC of each firm will be much higher compared to when it is a natural monopoly. Therefore, a natural monopoly will provide a commodity for a lower price in absence of any competition. Certain examples of a natural monopoly encompass the distribution of landline phone, tap water, natural gas and electricity. The government regulation is, therefore, appropriate to make sure that a natural monopoly only charges the fair-return price or normal profit without reducing costs sat a point at which AR curve intersects ATC curve. References Berg, S. V., Tschirhart, J. (2010). Natural monopoly regulation: principles and practice. New York: Cambridge University Press. Braeutigam, R. R. (2015). Optimal policies for natural monopolies. Handbook of industrial organization, 2, 1289-1346. Gmez-Ibez, J. A. (2013). Regulating infrastructure: monopoly, contracts, and discretion. Loeb, M., Magat, W. A. (2014). A decentralized method for utility regulation. the Journal of Law and Economics, 22(2), 399-404. Posner, R. A. (2014). Natural monopoly and its regulation. Stanford Law Review, 548-643. Train, K. E. (2011). Optimal regulation: the economic theory of natural monopoly. MIT Press Books, 1.