Market Failures & Professional Dilemmas Essay Example for Free

Market Failures Professional Dilemmas Essay Based on the Edwards article which market failures or imperfections are present in the â€Å"Lobster Thermidor† case? And can you identify any in your professional life? Based on the Halbert Ingulli reading (â€Å"Making An Ethical Decision†) apply the methods of ethical reasoning to these situations. Two market failures can be observed in the â€Å"Lobster Thermidor† case, a tragedy of public goods and informational deficiencies. First of all, the divers have to dive deeper, to the limit of diving safety, since overfishing has made the lobsters rare and to catch the lobster less than 30 meter down is getting harder and harder. This is the very typical case of public goods, where the public resources such as the lobsters under the sea are usually over-consumed by the individuals who try to maximize one’s interest. Deforestation, which has destroyed the entire farming industry and forced Miskitos out to entirely rely on diving, was another tragedy caused by the overconsumption of the public goods, forest. Secondly, both the divers and the end-consumers make wrong, irrational decisions cause of the lack of information. Divers, who do not recognize the true market price of lobsters as well as the true price of potential risks, bargain away their goods with little danger pay allowances. Also, the consumers, who have no idea about the severe fishing environment in Honduras, are reluctant to pay more than current prices, formed lower than it should be at the cost of human lives. The company where I worked prior to school has always tried its best to remove any little elements of competition in its area. If there were a small but promising start-up with innovative idea and technology, that company used every means –most were legal or grey while a few were nearly illegal- to get rid of the potential threats. For instance, it quickly imitates the new technology of the start-up, take out the similar patent, scout the core human resources, block off the critical suppliers and seed funds, cut the price of competitive goods to the minimum level, and do hostile MA. This case also showed the issues related to public goods and informational deficiencies. The company attempted to minimize the production/dissemination of new technologies, which can be considered as public goods, and the newborn ventures could not protect themselves cause of the limited access to the information. From the utilitarianism perspective, these are reasonable and desirable attempts because the larger number of stakeholders can be satisfied. My company had more than 20,000 employees while the average start-ups have no more than 100 employees. Considering the families of employees, shareholders, subcontractors, and the related industries, maximizing profit of my company could bring higher utilities than the success of small ventures. Even in long-term, my company’s decision would not be wrong since the possibility of success of start-ups are extremely low compared to the global conglomerates. My company, which has the global network, huge infrastructure, and accumulated knowhow can exploit the new technology better and thereby encourage the social progress. In contrast, from the deontological view, it was absolutely wrong. My company not only hindered the fair competition but also committed illegal acts. Whether the result proved positive or negative is not important for the deontologists. Finally, it was not proper when applying the concept of virtue ethics since the motives of the actions of the company was not correct and contributes nearly nothing to the harmonious relationship with the community it belonged.

Education: Empiricists vs Rationalists Essay example -- philosophy of

The importance of experience in education has always been the subject of philosophical debates. These debates between empiricists and rationalists have been going on for quite some time. Rationalists are of the view that knowledge acquired through senses is unreliable and learning can only be done through reasoning. On the other hand, empiricists believe knowledge is acquired through empirical impressions and concepts that cannot be learnt without being experienced (Evans, 1992, p. 35). This debate was however resolved by Kant who argues that both experience and rationality are necessary in learning. John Dewey was an American philosopher of the twentieth century and he also contributed to the debate on the learning process. In his book Experience and Education, Dewey (1938), he stated, â€Å"the belief that all genuine education comes about through experience does not mean that all experiences are genuinely or equally educative† (p. 25). This famous quote has been evaluated a nd referred to regularly in the debate on learning through experience. According to Dewey (1938) experiences can only be termed as educative if they lead to further intellectual and moral growth. In order for experience to be termed as educative, both the community and the individual have to benefit from the said experience. The experience has to contribute to growth in curiosity, sense of purpose, and initiative in the learner. He was of the view that traditional education was hierarchical and therefore undemocratic in nature. According to him, in order to produce well informed, thoughtful and democratic students, learners need to participate in all aspects of the school program and gain the experience. Eventually, a learner has to reflect on the experience ... ...work became widely accepted. However, his philosophy will continue to earn critical acclaim even in the coming days. Works Cited Boud, D., Keogh, R., & Walker, D. (1985). Reflection: Turning experience into learning. New York, NY: Kogan Page. Dewey, J. (1938). Experience and education. New York, NY: Macmillan. Evans, N. (1992). Experiential learning: Assessment and accreditation. New York, NY: Routledge. Ewert, A. (1989). Outdoor adventure pursuits: Foundations, models, and theories. Columbus, OH: Publishing Horizons. Goodlad, J. (1984). A place called school: Prospects for the future. New York, NY: McGraw- Hill. Kolb, A. (1984). Experiential learning: Experience as the source of learning and development. Englewood Cliffs, NJ: Prentice Hall. Lewin, K. (1952). Field theory in the social sciences: Selected theoretical papers. London: Tavistock.

Complementary and Alternative Medicine (Cam) Essay

Complementary and alternative medicine (CAM) includes a variety of interventions—from exercise and dietary supplements to stress management strategies, biofeedback, and acupuncture. These therapies—which come from many different disciplines and traditions—are generally considered to be outside the realm of conventional medicine. When used in combination with conventional medicine, they are referred to as â€Å"complementary;† when used instead of conventional medicine, they are referred to as â€Å"alternative.† In the United States today, approximately 75% of people with MS use one form or another of CAM, generally in combination with their prescribed MS treatments. Are CAM Therapies Safe to Use? Many people use CAM because they believe that anything sold over-the-counter at a pharmacy or health food store is healthy and harmless. However, unlike conventional medical treatments—which are thoroughly tested and carefully regulated by the U.S. Food and Drug Administration—most CAM therapies have undergone very little, if any, scientific study. So some may be completely safe while others may actually pose significant risks—for example, by producing serious side effects or interacting negatively with other medications a person is taking. Fortunately, a greater effort is now being made to find ways to evaluate the safety and effectiveness of various types of CAM. Why is Controlled Clinical Studies So Important? Carefully-designed clinical trials are the best way to determine whether a treatment is safe and effective. Here are the reasons why: * Because the course of MS is variable, and each person’s symptoms tend to come and go in an unpredictable way, the only way to determine the effectiveness of a treatment is to test it on a large number of people. * Because most people—regardless of the disease they have—will have a positive response to any new treatment they receive (even if it’s an inactive substance or placebo), the effectiveness of a new treatment can only be proven by comparing it to a placebo or to another treatment that has already been shown to be effective. * Because every treatment carries with it the risk of anticipated and unanticipated side effects, the only way to evaluate a treatment’s safety is to evaluate it in a large number of people over a sufficient period of time. Recommended Guidelines to Follow People who are considering using a CAM therapy should ask the following questions: * What does the treatment involve? * How and why is it supposed to work? * How effective is it? * What are the risks? * How much does it cost? The answers to these questions can help a person considering a CAM therapy to weigh the benefits against the risks. For those who decide to go ahead with the CAM therapy, here are some good, common sense recommendations: Keep your physician informed about everything you are taking. Not sharing this important information is like asking your physician to treat you blindfolded—and knowing everything you are taking will allow your doctor to alert you to possible side effects or drug interactions. Don’t abandon conventional therapy. The treatments your physician prescribes for you are the ones that have been evaluated in controlled clinical trials or accepted by the MS medical community as safe and effective therapies. So stay with your prescribed treatments even if you decide to add CAM to your treatment plan. Document the experience. Keep a detailed log of what you take or what is done and any changes you experience. Check out These Complementary Approaches to Physical Health and Emotional Well-Being * Food and Diet—Although various diets have been promoted to cure or control MS, no diet has been proven to modify the course of MS. MS specialists recommend that people follow the same high fiber, low fat diet that is recommended for all adults. * Exercise— Exercise offers many benefits for people with MS. In addition to improving your overall health, aerobic exercise reduces fatigue and improves bladder and bowel function, strength, and mood. Stretching exercises reduce stiffness and increase mobility. The physicial therapist can recommend an exercise plan to fit your abilities and limitations. * Stress management—The relationship between stress and the onset or worsening of MS is far from clear—and different types of stress appear to affect different people in different ways. But none of us feel our best when we’re stressed, so it’s important to find the stress management strategies that work best for you. * Acupuncture—Acupuncture is finding its way into Western medicine, with studies suggesting possible benefits for a wide range of problems. Definition of terms: 1. Alternative medicines – is any practice that is put forward as having the healing effects of medicine, but is not based on evidence gathered with the scientific method. Typically not part of conventional treatment, alternative medicine is usually based on tradition, belief in supernatural energies, pseudoscience, errors in reasoning, propaganda, or fraud. Alternative therapies lack scientific validation, and their effectiveness is either unproved or disproved. The treatments are those that are not part of the conventional, science-based healthcare system. 2. Complementary medicines – is treatment and medicine that you use in addition to your doctor’s standard care. 3. Dietary Supplements – dietary supplements are substances you eat or drink. They can be vitamins, minerals, herbs or other plants, amino acids (the individual building blocks of protein), or parts of these substances. They can be in pill, capsule, tablet, or liquid form. They supplement (add to) the diet and should not be considered a substitute for food. Importance of CAM in Clinical Pharmacy Studying CAM is important in clinical pharmacy since it is concerned with drugs. If you have a patient who does CAM system, then you can be aware of do’s and don’ts so you can perform a better patient counseling. Since CAM is not suggested, but at least you know it, then you can support your patients regarding that. Situational Analysis Talk to your doctor about risks and benefits of complementary and alternative medicine Work with your conventional medical doctor to help you make informed decisions regarding complementary and alternative treatments. Even if your doctor can’t recommend a specific practitioner, he or she can help you understand possible risks and benefits before you try a treatment. It’s especially important to involve your doctor if you’re pregnant, have medical problems or take prescription medicine. And don’t stop or change your conventional treatment — such as the dose of your prescription medications — without talking to your doctor first. Finally, be sure to keep your doctor updated on any complementary and alternative therapies you’re using, including herbal and dietary supplements.

Two-Digit Multiplication Worksheets and Printables