The Rise Of A Mercantilist Economic System History Essay

The Rise Of A Mercantilist Economic System History Essay The rise of a mercantilist economic system in Europe forged a unified relationship between government and its people by superseding feudalism and developing a merchant class that bridged the gap between the peasant and ruling classes. Britain, France and Spain, in particular, reaped the rewards of mercantilism by forming a powerful array of nation states. Although mercantilism stands in stark contrast with the principles of a free-market economy, it was nonetheless the driving force behind European imperialism from the 15th through the 18th centuries. The emergence of a merchant class developed a link between power and wealth. Mercantilism in Europe helped to centralize power, replacing the feudal arrangement of yesteryear. As critics like Adam Smith would point out, mercantilism was not without its drawbacks. The only two countries that corralled enough wealth to be considered hegemonic, the United States and Britain, did so in the nineteenth century, well after the fall of mercanti lism. Smith opined that economies should be self-regulating, and that mercantilism, through its rigid governmental constraints, prevented economies from truly flourishing. Despite an abundance of critics, the mercantilist economic system undoubtedly had a tremendous impact on Europe and the rest of the globe. Mercantilism was the foundation from which capitalism was born. European mercantilism first emerged in the latter part of the Renaissance in about 1595 and didnt fade away until the late 1800s. Queen Elizabeth I, desperate to quell the powerful Spanish Empire, ordered her Admiralty to reform foreign trade. Her reforms proved highly effective as England would go on to become the most powerful imperial empire in world history. England exploited the mercantilist economic system of importing precious metals and raw materials in exchange for manufactured goods. The French would later mimic Englands economic system. Mercantilist countries used the rule of law to attain a positive balance of trade through their colonies. Stiff tariffs were imposed on imports and colonies were restrained in their ability to manufacture goods. Instead they were forced to purchase products from their mother countries. For example, gold and silver were extracted from the colonies and shipped to European merchants, greatly enriching Europe. The power of the state depended on the amount of gold and silver in its coffers, because this international currency made it possible to build ships and pay for armies. (A Concise History of Economic Thought,Vaggi Groenwerth, 2003). Beginning in the 16th century, control over land, and trade routes became the most important part of collecting wealth for the most powerful countries. The growth of the mercantile system of Europe was largely spurred by the general discontent people had with the Roman Catholic Church. Mercantilism was, to a large extent, spawned by the Reformation. The lifestyle regulations imposed on Catholics allowed for very little self-actualization; a source of great embitterment for the masses who were fed up with the feudal system. Mercantilism brought upon the rise of the merchant class, a transfer of wealth that brought with it a sense of hope for much of Europe. The spread of alternatives to hard-line Catholicism like the Anglican Church coincided with the growth of mercantilism. In the 1600s England began to notice the Spanish becoming a rising power, due in large part to their influence in colonial America. England knew that whoever maintained the strongest blend of colonial influence and military strength would control the all- important trade routes and foreign territories. England, in an effort to squelch rising countries, began to strengthen their control over colonies, demanding that all trade go through them. The growing sense of competition between world-powers fueled the spread of mercantilism. The major players in this face-off were England, France, Holland and Spain. England reigned supreme as the victorious imperial power thanks to dominant military wins over Portugal and Spain in the sixteenth century, then Holland in the seventeenth and France in the eighteenth century. One of the major objectives of mercantilist countries was to create a bond between the powerful aristocracies and the rising merchant classes. The purpose of this alliance was to damage the economies of competing nations. Mercantilist theory suggested that government should enact a wealth-collecting agenda by protecting against foreign imports. Prior to the rise of mercantilism, the military was only formed during specific times of conflict. During the era of mercantilism, however, armies and navies became full-time enterprises as conflict had become a way of life. Gold and silver were the means by which goods and services could be obtained, and funding a strong military was an essential part of the equation. The merchants were willing to finance their governments in exchange for protection against foreign competition. Large central government and mercantilism go hand-in hand: the merchants needed the government and vice-versa. Mercantilist theorists believe that the net total of global wealth was already established, and that countries vied for a greater stake in the pie by exchanging manufactured goods for precious metals. The concept of, buy low, sell high was paramount towards collecting national wealth. The acquisition of non-coined gold and silver, or bullion, was considered the benchmark for economic growth. The growing wealth of European countries, namely England, France and Spain, had a trickle-down effect on their economies. Merchants would become wealthier through mercantilism, and, to a lesser extent, the lives of the labor forces improved thanks to better job security. The transfer of bullion funneled from the colonies of the Americas proved to be a major boon for European mercantilism. Mercantilist writers believed all trade to be a zero sum game, for every transaction there is a winner and a loser, mercantilists sought to handicap the game in order to promote economic success nation-wide. Mercantilism was a Machiavellian, Puritanically dark world view that promoted a general feeling of intense nationalism and ill-will toward competing countries and the colonies they governed. Governments would go as far as to damage entire monetary systems and limit civilian wages in order to reduce imports, and hurt other countries economies. When mercantilist countries did import goods, it was preferred that they deal in raw materials that could be processed and sent abroad in order to acquire more capital. Importing low cost, raw materials to be completed and converted into higher cost, manufactured goods and bartered for precious metals was a lucrative proces s for merchants. Extractive industries, like agriculture, gave way to manufacturing or processing material businesses. Precious metals had the strongest purchasing power for commanding goods and services. During the sixteenth century, the flows of precious metals from the American Colonies of Spain produced high inflation in Europe, but for the mercantilists gold and silver were the substance and the definition of both private and national wealth.(Vaggi Groenwegen, A Concise History of Economic Thought, 2003) As competition in the New World intensified, England began to tighten the screws on her colonies. Mercantilists were acutely aware of the linkage between politics and economics; they believed that power and wealth were closely related, and that both were legitimate goals of national policy. (Theodore Cohn, Global Political Economy, 2005) Although many countries became rich because of the wealth transferred from the New World, not every country capitalized as much as it could h ave. Between 1647 and 1715, the French attempted to mimic the British, but thanks to extreme inefficiency, they fell short. Jean Babtiste Colbert was one of the most well- known proponents of mercantilism. Colbert served as finance minister of France, under King Louis XIV in the seventeenth century. The French used the British mercantilist economic system of as a model for their political economy. Colbert inherited a perilous French economy on the brink of bankruptcy and enabled King Louis to embark on a series of aggressive military campaigns. The term colbertisme was coined by Colbert to describe the method of protecting infant industries. During his 18 years as minister of finance, Colbert issued a total of 150 edicts designed to regulate the guild industry. Colberts successful use of mercantilism was essential in financing the reign of Louis XIV. The Sun Kings reign featured a powerful military force, but the French economy, particularly its agriculture, was over-taxed and stagnant. Thomas Mun was one of the leading mercantilist authors during this time. His most influential works were a pair of pamphlets A Discourse of Trade and, later, Englands Treasure by Foreign Trade. Mun was the director of the East India Company, a monopolistic British charter founded in 1600 that supplied a wide array of goods, ranging from cotton to opium. According to Mun, monetary movements and the exchange rate depend on the condition of the trade balance: the inflows of precious metals reflect the existence of a positive balance of trade and vice versa. (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) Government-imposed monopolies were inherently corrupted; the use of black market dealings were an inevitable byproduct of price ceilings and quotas. As noted above, colonial powers competed vehemently for control over the North American territories they ruled over. Englands greed would cause tensions to boil over, eventually spurring the American Revolution. The initial Navigation Act of 1651, a bill enacted by the Oliver Cromwell-led Parliament, was designed to gain control over foreign exchanges between the English colonies and other countries. Under the bill, all trade flowing in and out of England or her colonies had to be shipped using British ships. The Dutch, who had been thriving thanks to their free-trade market, were crushed and sent to economic ruin thanks to Cromwells protectionist policies. Not only did the Navigations Acts seize control of transnational commerce, it also disabled competing countries from profiting from freight and shipping services. The mercantilists discovered that it was the whole current account balance that mattered, not just the exchange of commodities. (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) British colonial mercantilism was oppressive by nature; American colonies were banned from the global economy and were treated as little more than pawns. The prosperity of mercantilist economies was contingent on the aid of a strong centralized government that regulated foreign and domestic trade. Mercantilist economies became immensely wealthy by coercing a positive trade surplus. It was thought that a country could be strengthened by regulating commercialism by discouraging imports, and maintaining a positive flow of exports. Governments began placing tariffs, quotas and even prohibitions on imports in order to protect domestic business. New businesses would be encouraged with generous tax breaks. As for the trade part of the balance of payments, the government must favour the sale of raw materials abroad because they will be purchased with precious metals, hence adding to the stock of national wealth (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) Improved tools and technologically advanced products were not allowed to be exported to foreign markets in order to maintain superiority over competing states. The same was true of talented workers, who were prohibited from emigrating to other countries, just as foreign diplomats hypocritically recruited other businessmen to come to their home countries. One of the sharpest critics of European mercantilism was economist Charles Davenant, who believed England would become more prosperous if government discontinued their policy of intervening in foreign trade. In 1690, Davenant published An Essay on the East-India Trade, which outlined his belied that a liberal foreign trade policy would increase Englands exports thanks to a larger market. According to Davenant, this increase in the stock of money leads to lower interest rates and to higher prices of land. The increase in the value of landed estates brings about a rise of rent and of tax revenue. As a result of a freer trade every section of the population is better off, but the starting point of the whole story is still the successful export trade of England. (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) Davenants theories, revolutionary for the time, caused vast condemnation in Europe, who believed the risks of an expanded market outweighed the rewards. Ultimately, no alternate system capable of challenging the nationalistic balance of trade theories of mercantilism emerged, and mercantilism continued. Mercantilism began to fade in the 18th century, ending not with a bang, but with a whimper. Adam Smith, a Scottish Oxford graduate, was a revolutionary economist in the mid to late 1700s who was responsible for coining the term mercantilism. One of Smiths major points of contention with mercantilism, as was outlined in The Theory of Moral Sentiments, was his distaste for heavy-handed governmental control of the economy. Smith, who despised mercantilism invented the metaphor, invisible hand which stood for a natural, self-regulation that functioned because of the essential tenets of a free-market economy: self-interest, competition, economic characteristics he believed were possible without governmental intervention. In 1776, Smith wrote in Wealth of Nations: It is not from the benevolence of the butcher, the brewer or the baker, that we expect our dinner, but from their regard to their own self interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. His writings were the basis of laissez-faire capitalism, in which industry is free from the shackles of government. Smith believed in the natural order of the economy, whereby, rather than have the government fix prices and regulate trade, the economy should be a self-sufficient machine that dictates the price of commodities. When the price of any commodity is neither more nor less than what is sufficient to pay the rent of the land, the wages of the labour, and the profits of the stock employed in raising, preparing, and bringing it to market, according to their natural rate, the commodity is then sold for what may be called its natural price. (Adam Smith, Wealth of Nations, 1776) The brilliance of Smith was not in his ability to produce revolutionary economic theories of his own; his greatness was embodied in his ability to assemble existing concepts into a system. The fundamental problem with mercantilism is its refusal to account for the value of all economic activity. Maintaining a positive balance of trade is not the only indicator of economic health. To the contrary, as has been proven in the United States meteoric growth despite a negative balance of trade since the 1970s, a positive balance of trade means very little, and often leads to inflation. Mercantilism, though largely debased today, played an essential role in the rise of the middle class. Without the spread of mercantilism in Europe, its impossible to project how the world might look today. Its possible that, without mercantilism, we would still be living in a feudal, caste-like system comprised of only governmental elitists and a the peasant class, with very little in between. Mercantilism gave rise to the middle class, the largest group in the West. Open Side Bet Tracking Kevin Fox- NFL: Week 13 Game ($20, W),Vikings+3.5 over Sains W $15 Colts-7 over Ravens ($10, W) Paid? NBA: Blazers+4.5 over Magic ($10, W) Paid? MISC: James+Stephen 3-Point Shootout, over Elliot+Kevin ($5, W) Paid? Total: (+ $60) Paid? Joey Leoni- NFL: Men of Menlo Fantasy Football Money ($100, W) Paid? Total: (+100) Paid? Dominic Diricco NFL: Men of Menlo Fantasy Football Money ($50, W) Paid? Total: (+$50) Paid? Kevin Meehan- NFL: The Sunday Special Fantasy Football Money ($100, L) Total: (-100) Paid? Isaac Baron- MISC: (In Progress) Most Makes of 53s, Isaac must Win at least 8/10, I=3Wins, J=1 Win ($100, T) Total: ($100 Pending) Paid? SID: 112 15 810

The renaissance period and ideologies

The renaissance period was highly influenced by artists who promoted religious ideologies. The word Renaissance in itself is means ‘rebirth' or ‘reconstruction'. It refers specifically to the revitalization of the early renaissance in Italy in the fourteenth century, which eventually spread to England in the sixteenth and further north in the seventeenth. Christianity was the leading religion at that period of time, artists such as Michelangelo, Leonardo and Raphael were part of the high renaissance period that spread between 1475 to 1525, Michelangelo painted theSistine chapel ceiling between 1508 and 1512, it was requested by pope Julius the second that Michelangelo would paint the ceiling of the chapel to help Rome rebuild its self to its former glory. One off the most famous sections of the Sistine chapel is the creation of Adam' it is thought to illustrate the narrative from the biblical book genesis in which god breaths life into Adam. This is an example of religiou s, and political ideologies, because the Pope Julius wanted the ceiling to promote Rome at that time and also to promote his own name, to make the rest of the world believe that he was superior to his rival Pope Alexander.It also promoted religious Ideologies by depicting one of the most Important scenes from Christianity; In painting this ceiling they were effectively advertising their own religious beliefs making others aware of their religion. During the renaissance period Musicians and artists were servants of the rich and would be employed by the church or a rich noble to glorify god, their religion or themselves. The church and the rich wanted these artists and musicians who earned their living through people like this to promote their Faith and to demonstrate how Important their religion was.This Is an example of how the church and the rich anted to use art to document or portray their Ideologies to the rest of society. Leonardo Dad Vine's Last Super This Is a late 15th centu ry mural by Dad Vulcan; the church commissioned him as part of their renovations to depict scenes from the bible. It depicts ‘The last super' one of the most Important and key scenes from Charlatanry. I believe that this Is a way that the church have used art to promote their religious beliefs, which Is In a way an Ideology of how they want everyone to believe the world came to existence. By philanthropy that he was superior to his rival Pope Alexander.It also promoted religious ideologies by depicting one of the most important scenes from Christianity; in painting this important their religion was. This is an example of how the church and the rich wanted to use art to document or portray their ideologies to the rest of society. This is a late 1 5th century mural by Dad Vinci; the church commissioned him as part the most important and key scenes from Christianity. I believe that this is a way that the church have used art to promote their religious beliefs, which is in a way a n ideology of how they want everyone to believe the world came to existence. The renaissance period and ideologies The renaissance period and ideologies The renaissance period was highly influenced by artists who promoted religious ideologies. The word Renaissance in itself is meaner ‘rebirth' or ‘reconstruction'. It refers specifically to the revitalization of the early renaissance in Italy in the fourteenth century, which eventually spread to England in the sixteenth and further north in the seventeenth. Christianity was the leading religion at that period of time, artists such as Michelangelo, Leonardo and Raphael were part of the high renaissance period that spread between 1475 to 1525, Michelangelo painted theSistine chapel ceiling between 1508 and 1512, it was requested by pope Julius the second that Michelangelo would paint the ceiling of the chapel to help Rome rebuild its self to its former glory. One off the most famous sections of the Sistine chapel is the creation of Adam' it is thought to illustrate the narrative from the biblical book genesis in which god breaths life in to Adam. This is an example of religious, and political ideologies, because the Pope Julius wanted the ceiling to promote Rome at that time and also to promote his own name, to make the rest of the world believe hat he was superior to his rival Pope Alexander.It also promoted religious ideologies by depicting one of the most important scenes from Christianity; in painting this ceiling they were effectively advertising their own religious beliefs making others aware of their religion. During the renaissance period Musicians and artists were servants of the rich and would be employed by the church or a rich noble to glorify god, their religion or themselves. The church and the rich wanted these artists and musicians who earned their living through people like this to promote their Faith and to demonstrate how important their religion was.This is an example of how the church and the rich wanted to use art to document or portray their ideologies to the rest of society. Leonardo Ad Vine' s Last Super This is a late 15th century mural by Ad Vinci; the church commissioned him as part of their renovations to depict scenes from the bible. It depicts ‘The last super' one of the most important and key scenes from Christianity. I believe that this is a way that the church have used art to promote their religious beliefs, which is in a way an ideology of how they want everyone to believe the world came to existence. By philanthropy

Ethics on Walt Disney

According to an article from The New York Times, on May 9, 2012 The Walt Disney Company’s profits had grown up to 21% at Disney’s Cable TV gains and a surge in Resorts Business. Thanks to climbing ad sales and subscription fees at ESPN, another cable channel like ABCfamily has also helped the Walt Disney Company. Its quarterly profit 21% To $1. 14 billion dollars. The article started off by stating that Disney’s financial reported a Growth on retail sales report. In addition an operating income at Walt Disney Company Park and Resorts Surged 53% to $222 million dollars.A reason for this division growth was that they had high spenders. Which meant they wasted money on Disney’s products and not only that but there attendance increased on almost all there resorts worldwide. Just like in Tokyo an increase in spending up to 5%. This is ethical, because it shows that the resorts must be doing well that means people are going and spending their money even with thi s recession. Besides this there is an issue that Disney’s studios faced after filming the movie John Carter but they had a solution. After they had lost money from that movie they also had losses from media networks.Because As the result that they were working on their interactive media. Aside from their losses, Disney reported earnings per share of 58 cents for the quarter. Up to 18% from 49 cents a year earlier. Not only had that but Analyst expected Earnings per share of 56 cents. In the other hand there was revenue 6% to $9. 6 billion. This shows that it was am improvement for Walt Disney they do there accountings in an Ethical manner. Another good ethics of Walt Disney is there television portfolio, since they have a variety of studios.They manage different channels like sports and family channels that helps them set apart from there competition. ESPN is by the largest contributor to Disney’s overall probability. â€Å"Quite well positioned to remain the pre-emin ent sports brand,† said Disney Chairman Robert I. Iger. This statement shows that ESPN is doing a good job as it should and shows that not only that. But ESPN is still growing with their subscribers and fees. Lastly in the article, it states that since the release of the movie Marvel Inc. The movie has recorded the biggest opening. â€Å"It’s a great illustration of why we like Marvel Inc. o much. † Said Mr. Iger. In my opinion I think the Walt Disney Company is very successful. They have been around the business for quite a while. Not only that but they made products and films that are worth value. Great film from back in the days and still going on now. The Walt Disney Company hires employees and trains them to their best ability which not many companies do. They require safety and have their business standards set well. Just how their profits have increased. That’s shows their doing a well ethical job. They may not be perfect but they sure have accounti ng set well in their business.Because the fact that if they didn’t Walt Disney would be as well-known. Their resorts wouldn’t be considered one of the happiest places on earth. This Article states the ethical manner that Walt Disney has done yet they had issues but still they overcome them just like how ethical companies should. The Walt Disney Company hasn’t been affected in a huge drastic way that other companies have been affected. But yet I think that is example that an ethical company leads and that is Walt Disney. REFERENCE http://query. nytimes. com/gst/fullpage. html? res=9C01EFD9133AF93AA35756C0A9649D8B63&ref=brooksbarnes

Capital Punishment A Long Time Essay - 1027 Words

Capital punishment has been around for quite a long time. It goes back to when Hammurabi had his laws classified; it was an eye for an eye, a tooth for a tooth. The death penalty in America began when spies were gotten, put on trial and hung. In the past and still today individuals contend that, capital punishment is savage, strange discipline and ought to be unlawful. Yet numerous individuals contend that it is indeed legitimate and it is not merciless and bizarre. The death penalty is not coldblooded and unordinary; capital punishment is reasonable and there is confirmation that capital punishment hinders wrongdoing. A huge part of abolitionist s contention is that capital punishment is not accommodating. They pull in Amendment 8, †¦ nor savage and irregular disciplines incurred. What the victimized person went however was in reality pitiless and strange disciplines . The killers demise is not brutal. The individuals will request equity for what he or she has done (Bidinotto 19). Hanging and the hot seat are themes more sensible to contend; however now on account of deadly infusion the death penalty has gotten to be more sympathetic. Capital punishment is not uncouth, the agony and misery that the victimized person experienced is boorish. Abolitionists were exceptionally disturbed in 1996 when attacker and killer John Albert Taylor was executed by terminating squad; they said his demise was primitive (Feder 32). Charla King, the poor 11-year-old young lady heShow MoreRelatedCapital Punishment Of The United States961 Words   |  4 Pages Capital Punishment in the United States For centuries, capital punishment has been used as a consequence of capital crime. Criminals who have committed such crimes are subject to facing the death penalty. 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One can view this as part of Hammburi’s Code law that states â€Å"An eye for an eye.† Capital punishment has ben around for thousands of years; beginni ngRead MoreIn Cold Blood: Death Penalty1413 Words   |  6 Pages Capital Punishment has been part of the criminal justice system since the earliest of times. The Babylonian Hammurabi Code(ca. 1700 B.C.) decreed death for crimes as minor as the fraudulent sale of beer(Flanders 3). Egyptians could be put to death for disclosing the location of sacred burial sites(Flanders 3). However, in recent times opponents have shown the death penalty to be racist, barbaric, and in violation with the United States Constitution as ...cruel and unusual punishment. In thisRead MoreCapital Punishment Essay781 Words   |  4 PagesCapital Punishment Capital punishment has been a cause for debate for many years, and people continue to disagree on the topic. A battle rages between Americans who are fighting for a safe and just world, and those who want to abolish the death penalty, weakening our already struggling legal system. Capital punishment may be a controversial subject, but it is one that must be addressed with todays violent society. The death penalty provides the necessary punishment and deterrent for criminalsRead MoreTaking a Look at Capital Punishment1003 Words   |  4 PagesCapital punishment is a topic highly debated upon. For years the court systems have been debating whether the criminals deserve this strict punishment or not. However, despite the verdict from the judge, people have still been divided on whether capital punishment does more harm than good. A major subject that comes up is if the government has a justifiable reason for killing convicted people. Some only look at the negative but there are ple nty of reasons why this is a positive action. Capital punishment

The Effects Of Electronic Devices On Children And...

Just another hour, please! This is what most parents hear from their children/adolescent every time it is time to stop using an electronic device. Children and adolescents today spend â€Å"1 to 3 hours per day during the week and between 1 to 4 hours per day on the weekends† (Kappos, A.D. pg. 556) on computer games, viewing videos, watching television and internet surfing to name a few. The use of electronic devices has changed the life of children/adolescent and have exposed them to a volatile and irreparable outcome, in their social interaction with peers and family, self-perception, behavior and sleep pattern. It is now a standard in today’s school and at home to have access to a computer to complete homework assignment and projects. The additional stress to perform has risen and has caused unwanted stress and anxiety in school age children. Due to the ease of accessibility of cellular phones and tablets today, it has become harder to monitor what your child/adolescent. â€Å"Only about three in ten young people say they have rules about how much time they can spend watching TV (28%) or playing video games (30%) and 36% say the same about using the computer. When parents do set limits, children spend less time with media: those with any media rules consume nearly 3 hours less media per day, than those with rules† (Kaiserfamilyfoundation.wordpress.com. 2010). Media present in the bedroom effects on sleep in children/adolescents consequences can be both physical and mental.Show MoreRelatedThe Effects Of Electronic Devices On Children And Adolescents Essay1464 Words   |   6 Pageshour, please! This is what most parents hear from their children/adolescent every time it is time to stop using an electronic device. 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As a result, they start to have poor habits, havingRead MoreVideo Time Is Good Or Bad For Kids1376 Words   |  6 Pagesscreen time is the â€Å"Time spent using a device such as a computer, television, or games console.† Many advocate and promote that if used properly, the prolonged use of digital media is a means for children to develop and interact more quickly in today’s age. However, some parents have been concerned that too much technology usage may in fact interfere with children’s development. While the two opposing sides have differing opinions on how screen time affects children, both sides agree on doing whateverRead MoreThe Media Affects Me?1313 Words   |  6 Pagesdevelopment of children in more ways than adults, of which some may cause lifelong problems for the children. The use of the media and other electronics has drastically increased over the past 4 years, but it is said to increase even more in the coming years. 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The Allegory Of The Cave - 1086 Words

Shefali Holder Midterm Assignment Question # 3 Explain the allegorical significance(s) of the cave in Plato’s Republic. How is the cave an allegory of Plato’s philosophy? How is the allegory of the cave an allegory for enlightenment or philosophical education? How and why are most human beings like prisoners in a cave? Who are the puppeteers? What does the world outside the cave represent? What does the sun represent? Etc. What is Plato’s Theory of the Forms? What is a Form? How does the allegory of the cave express Plato’s Theory of the Forms? How is philosophy the art of â€Å"turning around† and what does this mean? Is the allegory of the cave relevant to contemporary social and political life? Can the allegory be used to critique contemporary social practices? â€Å"Then there would be an art to this very thing,† I said, this turning around, having to do with the way the soul would be most easily and effectively redirected, not an art of implanting sight in it, but how to contrive that for someone who has sight but doesn’t have it, turned the right way or looking at what it needs to.† â€Å"That seems likely,† he said. â€Å"Then the other virtues said to belong to a soul probably tend to be near the things belonging to the body, since they’re not present in the being of the soul before they’ve been inculcated by habits and practice, but the virtue involving understanding more than all attains to being something more divine, as it seems, which never loses its power but by the virtueShow MoreRelatedThe Allegory of the Cave907 Words   |  4 Pagesman follow the law, and how do implications of society affect our behavior. 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The chains on my hand represents me being a prisoner in the house. After dark every night I would be all by myself scared. I was 15 years old at the time and Jamaica wasn’t a place that

Marketing Management Purchasing and Marketing Management Implications

Question: Discuss about the Essay for Marketing Management of Purchasing and Marketing Management Implications. Answer: Introduction Headquartered in Philadelphia, Comcast Cable serves as a unit of the bigger Comcast Company, a director, engineer and administrator of system cables and designer of all the companys programming activities. Owning a huge market share in 15 huge metropolitan zones, the Company utilizes 50, 000 individuals in six offices and more than 25 million customers. The corporation falls amongst the world's driving cable suppliers, communication , and entertainment services. The organization is fundamentally engaged in administration of cable frameworks by the utilization of its high-branded cables. Through the presence Comcast, the company is further engaged in the creation, advancement, and circulation of news, games, and entertainment administrations for a huge global audience. The paper will explore all the possible channels through which the company utilizes the market to cater for its online audiences. Customers need, wants, product, demand and identification of market of Comcast: Products Comcast Cable TV allows customers to watch TV online and offline, which is seen an improvement to the normal TV coverage whereby the audience has to tune in TV. COMCAST provides a leading and advanced network for TV, phone, and Internet. The customers of Comcast stand a higher chance of benefitting more from the product and service package. Further, customers are offered fiber connections, Telcom services, and various regional area networks. The management of Comcast continues to ensure their clientele that the firm is committed to applying the latest technology and innovation in order to inform, entertain, and connect with people in different ways. Market for Comcast Comcast Company runs fruitful business in the region and globally and with the exact system of marketing, it will present itself as the pioneer in cable television. A portion of the strategies to improve extension are; quality ads for clients, powerful advertising of items and the organization and advancement of extra television channels. Presentation of extra fiber optic cable is vital in promoting the company brand and products in addition to several endeavors meant to give consumer loyalty (Debelak, 2000). The cable is the medium through which COMCAST gives quality entertainment to prospective clientele. Following increased demand, the general masses need to access quality data, information, and entertainment that is being offered by the companys cable. Identification of Market The motivation behind this marketing plan is to examine the execution of Comcast Corporation and make suitable marketing tools that will roll out improvements for further development and extension. The involved marketing procedure will include both local and abroad television clients. The global clients will be reached by online correspondence while a large portion of the neighborhood clients in the nation will be reached through billboard commercials. The procedure will include dynamic support of the marketing office with marketing specialists giving authority in the entire marketing procedure. Demand COMCAST has lately faced lower demand in certain type of television channels as the taste patterns of audiences in their twenties have changed over the years. The focus of the company should not only deal in selling of the customer products but rather creating an enriching experience (Homburg, Kuester Krohmer, 2013).COMCASTs present clientele have taken up an active role in trying direct their experience towards their demand. While considering the client needs, it is normal that they require a decent storyline with some outwardly engaging TV stations, which makes it additionally enticing, and makes the crowds stuck for more hours. The wants of their present customers have also differed. The changes in the value are one of the major factors that is present in the market. There are changes in the way the customers they watch the television programs being televised (Hollensen, 2015). Meeting Clientele Needs The client interest of the age ranging from 20-25 is entirely hard to recognize and the principle explanation behind this is there several interests that interest for different classes of TV arrangement. The interest for TV arrangement are similarly indistinguishable by this portion of group. There are certain angles that the client may request. The products accessible for this scope of clients are assorted. These structures are accessible to the gathering of people in various configurations. Orientation exhibited by the Comcast Company towards the market place Comcast Cable TV is currently confronted with an intriguing chance of giving quality services to customers. Following the quick changes in the business sector occurring regarding the interest, the organization needs to manage the sort of commercial center that they perform. The organization orientation towards the commercial center manages the idea, which Comcast can apply towards the objective business sector. Classes that Comcast needs to consider are the five essential orientations while it wants to expand the interest of the client of the age ranging from 20 to 25 years. The orientation of the organization would include the idea of creation, item idea, the idea of offering, the idea of advertising, and the idea identified with the general public. Production Concept: In this sort of an idea, Comcast sees that there is expansion in the generation of value television series according to the interest of the clients. The idea of creation is systematically getting terminated with the organizations focusing more on the clients (Wilson and Gilligan, 2012). Selling Concept: The idea of offering arrangements significantly affects clients who may not be keen on buying the product unless they are induced (Hutt and Speh, 2012). This is entirely trailed by Comcast, as this will qualify the organization for furnishing the unwilling clients with more TV channels that that are pressed with both excitement and show. Comcast Cable TV further gives religious news and religious affiliations and individuals frame some portion of its imperative business sector fragment. The business society is rapidly developing with the presentation of PC service administrations of new master areas. With mechanical progression, Comcast anticipates giving a superb setting to gatherings and meetings. This change in like manner engages individuals to check email messages and other vital information components. Potential advancement of computerized TV is tremendous and the world is rushing toward a minute that TV link will easily stay accessible as a wireless. Product Concept: The product concept characterizes that the clients will watch entertainment stuff, news, and TV arrangement, which are of better quality as far as the elements and execution are concerned. This idea is entirely championed by Comcast for the focused on age group of 20-25 years. The fundamental purpose behind this is quality is the perspective, which the targeted group watches in films and a decent storyline (Foxall, 2014). Along these lines, the product quality and representation is the thing that matters to the groups of audience and obliging it is the decision that should be accessible for Comcast. Its targeted market includes clients who are searching for access to stimulation and information in a tried, true, and sensible way. The business sector can basically be sub-separated into three groupings. The primary grouping is families with children who acknowledge entertainments and cartoons on various TV channels. The youngsters are the second group who might need to be entertained, while the third group includes older people of medium and senior age. The seniors are for the most part fascinated in review-updated news and network shows. Marketing Concepts: A selling concept is a fundamental idea, which is similar to advertising and marketing. Greatest income will be produced when there is effective advertising. This concept chiefly recommends that the association's prosperity is basically dependent upon the endeavors of marketing and the conveying of the quality proposition. Comcast takes after incorporated marketing activities with the goal that they can fulfill the interest of the business sector more advantageously than that of competition in the business sector (Lee and Carter, 2012). This will help the organization to get more request from the targeted segment. The marketing concept columns relies heavily on the targeted business sector, the requirements that surface from this group, incorporated promoting which includes all the bureau of the organization cooperating for the enthusiasm of the clients and at last the gainfulness. The idea of benefit is the aftereffect of a productive marketing. Societal Marketing: The idea of societal type of advertising triggers a successful drive to Comcast to such a type of concept, to the point that it will help in giving something back to the general public the things that is gotten. The organization is getting sufficient benefit from the public thus the organization is seen to take the measures for profiting the general public (Pealoza, Toulouse and Visconti, 2013). The moral contemplations are taken into contemplations while undertaking the promoting rehearses. Competitive Issues faced by Comcast One of the competitive issues facing Comcast is that, presently, the television distribution is broken and the system denies clientele reasonable choices at very affordable pricing. The acquisition of Comcast of Time Warner Cable made it to perform dismally and was viewed by many as being incompetent. This saw many competitors coming up to take advantage of the Comcast loss of trust to its clients. Analysts report that since then, the company lost some of its trusted cable and television clients to competitors, and the management has been up and down trying to regain them. Comcast Cable Television has been able to get the productive and innovative creators in all its television programs and series. The nature and the level of competition in film industry is prototype, core cultural, oligopoly with high mount of fixed cost, lower costs of reproduction, unpredictability in the demand, scale in economies, portfolio approach (Wagner Eggert,2016). Despite the fact that the organization h as kept up a solid clientele base, its management is worried about competition drawn from other digital television players. Rivalry predominantly comes from Netflix (whose customers can stream television scenes and films) has given the organization different difficulties as far as market ownership is concerned. Comcast concedes to the fact that it still needs to attain a comparative electronic programming strategy. Nonetheless, the organization is endeavouring to make improvements on its client guide by targeting its ipad clients. The organization has succeeded to combat rivalry by propelling an ipad application which permits clients to control and further program their televisions in a remote way. While Viacom, another major competitor, has as of now discharged applications that empower clients to watch desirable channels on the ipad, the company is still thinking of coming up with one as a win-strategy that would maintain all its clients and not lose them to Viacom. Competitors su ch as ATT and DirectTV are capable of attracting its clients by bringing down the cost of services, which essentially turns the incomes of Comcast down. Regardless of the difficulties postured by Comcasts competitors, the competitors keep on telling a vast piece of the overall industry through broadcast of better services and administration of astounding services. Another competitive issue facing Comcast is that the company has been struggling with keeping the legacies of the many firms it assimilated but failed to fully integrate. This issue has led the company incur various mistakes in terms of miscommunication and billing with clients. To this day, the company is working to streamline its major systems, only that this move is still not effective, according to the view of technology experts. Another competitive matter facing Comcast is that, there is stiff competition in high-speed Internet and video services. Some of the media companies, especially from America (key among them, Time Warner) have begun offering both on-demand programming and linear programming via HBO NOW. Such initiatives are bound to cause Comcast Cables video services to start losing longstanding subscribers. In terms of high-speed Internet, Comcast Cable faces competition from the leading Aphabets Google Fiber (GOOG). The latter is increasingly providing high-speed video and Internet services in some of the companys services, and is rapidly expanding into other geographical regions. Comcasts voice services are presently reported to be under intense pressure. This is because, the companys voice clientele tend to prefer Internet-based phone services and mobile phones services including Skype over wireline phones. Segmenting, positioning, and targeting issues related to Comcast Within the cable service providers, five major segments are used to account for industry revenue. These include filmed entertainment segment, advertising segment, cable network segment, broadcast TV segment, and cable segment. The cable segment revenues include phone, Internet, and video services that are rendered primarily to business and residential clients. The broadcast television segment is used to generate revenue from advertising sales on local television stations, broadcast networks, and other digital media platforms. The original content is licensed via programming distribution contracts, video on-demand subscriptions, broadcast networks, and cable networks. Advertising segment proceeds are collected from all the commercials viewed. This is attained by licensing the companys owned programming to enable in provision of network ratings. Filmed entertainment segment is profitably attributed to the worldwide distribution of acquired and produced film titles. The licensing of fil m titles and the sale of original content through DVD, Blue-ray, and high definition and standard platforms have been appreciated to contribute to the overall collected revenue (Cui Choudhury, 2015). The art of segmenting, positioning, and targeting for Comcast is taken seriously. These are the three-phase process. In the first case, it is imperative to distinguish the sort of clients that exist. Second, there is a requirement for selecting for which it is best off when served, and finally it includes the usage of the division so the products/services are enhanced for that specific target groups of audience and after that conveying the decision with the goal that it can recognize the decision that way . At the point when Comcast applies the idea of sectioning, then there is a chance that the organization will not maximize and boost their potential. It may emerge that a brand may gain a lasting relationship with a specific group when it is seen to use the social race, class, and way of life, which would bring inconvenience others to utilize the product (Simkin and Dibb, 2013). Sectioning and segmenting of the audience may prompt potential audiences to move away from their individu al objective. This would prompt the estrangement of the potential clients (Baker et al., 2014). The individual discernments are not considered regarding this. Positioning is vital before the product enters the business sector. The basic issues that surface is that with new offers coming up and with whom it is going to contend. It is essential for Comcast to comprehend that there is a requirement for the client need they are attempting to meet with the product classes that is served. The real gap may not be that simple to interpret and competencies if any should be investigated (Cui and Choudhury, 2015).Thus, positioning is very difficult. Targeting the audience is exceptionally difficult for the Comcast. The target populace of 20-25 years is seen to favor films from all kinds. Recommendations Conclusion The ideal method for completing an examination amongst execution and arranged activities is fundamental in helping oversights and serve as a fruitful technique for controlling the endeavor. In the execution technique, the going with segments that ought to be checked incorporate monthly costs and income by means of acquirement of worth services at moderate expenses. Through customer steadfastness, the association can acquire new customers and expand its yearly incomes. The association of advertising is appeared to be a segment to be found in the execution arrangement. The criticalness of this game plan is to elevate its endeavors to enhance its stake in Cable TV market by enabling customers to fathom the attributes of computerized TV as opposed to satellite TV. It is prudent that Comcast continues with the diversification of its products as a means of ensuring that the organization appreciates a competitive advantage. The audience of Comcast can be expanded through the joining of imag ination of the workers, which help in thinking of the distinctive sort of the services, which does not have any priority in nature and utilization. References Baker, M. J., Parkinson, S. T. (2016).Organizational buying behaviour: purchasing and marketing management implications. Springer. Baker, W. E., Sinkula, J. M., Grinstein, A., Rosenzweig, S. (2014). The effect of radical innovation in/congruence on new product performance.Industrial Marketing Management,43(8), 1314-1323. Bruning, E. Lockoshin, L. (1994). Marketings role in generating organizational competitiveness. Journal of Strategic Marketing (2)3, 123-134. Cui, G., Choudhury, P. (2015). Effective strategies for ethnic segmentation and marketing. InProceedings of the 1998 Multicultural Marketing Conference(pp. 354-358). Springer International Publishing. Debelak, D. (2000). Streetwise Marketing Plan: Winning Strategies for Every Small Business. 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Value in business and industrial marketing: Past, present, and future.Industrial Marketing Management,41(1), 207-214. Pealoza, L., Toulouse, N., Visconti, L. M. (Eds.). (2013).Marketing management: A cultural perspective. Routledge. Saarijarvi, H. (2012). The mechanisms of value co-creation. Journal of strategic marketing (20)5, 381-91. Stevens, R. Loudon, D. Nykiel, R. (2003). Marketing Your Business: A Guide to Developing a Strategic Marketing Plan. Binghamton, NY: Routledge. Sharma, A., Lambert, D. M. (2013). Segmentation of markets based on customer service.International Journal of Physical Distribution Logistics Management. Simkin, L., Dibb, S. (2013). Social media's impact on market segmentation and CRM.Journal of Strategic Marketing,21(5), 391-393. Tadajewski, M., Jones, D. B. (2012). Scientific marketing management and the emergence of the ethical marketing concept.Journal of Marketing Management,28(1-2), 37-61. Wagner, S. M., Eggert, A. (2016). Co-management of purchasing and marketing: Why, when and how?.Industrial Marketing Management,52, 27-36. Weaven, S., Grace, D., Dant, R., R. Brown, J. (2014). Value creation through knowledge management in franchising: a multi-level conceptual framework.Journal of Services Marketing,28(2), 97-104. Wilson, R. M., Gilligan, C. (2012).Strategic marketing management. Routledge.