Postmodern Art Essay - 1770 Words

Postmodern art decided to make revolutionary break with past and questioned previous theories known as â€Å"big narratives† of art, politics, economics and overall culture in order to create new theories. The big part of postmodern theory deals with the belief of preexistence of the art all around us. The artist is the one who can recognize these elements of art around as and synthesize them into the art work. This art work becomes object of interpretation which inevitably varies among different generations, social groups, national group, religious groups, and depends on some extent of the educational level of the observers and it is also different in the same individual in different times or environments. The different interpretations of†¦show more content†¦In another words Borges through his character, Pierre Menard, primarily examined the terms of the originality, inspiration, and innovation in the art. Borges argues for strong mutual connections between the written work (art work) and the reader (observer) and written work (art) and the creator. He created his fictional world in which he unfolded the story encompassing his philosophy of art, self examined it from different angles without a fear of overestimating values of his own work because he is just objectively praising Pierre Menard’s artistic product. In the story Pierre Menard presents two options how he could write his Quixote. The first option is that he, Pierre Menard, will become Cervantes, in that way that he will learn to speak 17th century Spanish, he will learn the history and examine the circumstances that were surrounding Cervantes while he was writing his Quixote. Of course, this option is denied as impossible (ironically, Borges says it too easy.) The second option, for Menard, is to write his own, Quixote; The Quixote that will, in its appearance, resemble the â€Å"original† work, but in its core will be completely different piece. Menard will beco me different Cervantes, do it through his own experience and knowledge. In this way, he will not only distinguish his â€Å"The Quixote† from the â€Å"Don Quixote,† but Menard still will stay himself. Menard intended to create The Quixote by his own means (talent, brain power, experience) so that it would beShow MoreRelatedThe Journey Of Postmodern Art1631 Words   |  7 PagesThe Journey to Postmodern Art The field of visual art is extremely broad, therefore art historians have been attempting to categorize it based on style, time of creation, and subject matter for centuries. Much like any other sociological aspect of life, the culture and time period in which it was made has a great impact on the artist which directly influences their art. Though art is and always has been a way for someone to express themselves, limitations from certain parties took some of that experienceRead MorePostmodern Art and Artificial Environment Essay640 Words   |  3 Pagesformal qualities tied to this aesthetic .The goal of art in the post-modern standard is no longer predominantly behavioral, as it still was in the modern, but perceptive. The post-modern is the art of the artificial environment. Artists favored the readymade object as more powerful than the supposedly new crafted objects produced by Modernist artists. By willingly allowing the practice of appropriation that occurs within the producti on of all art, these artists pulled the power of pre-existing imageryRead MoreRenaissance Art And The Postmodern Frame1245 Words   |  5 PagesArt throughout history have challenged the values and attitudes of their contemporary society. With a focus on the postmodern frame, Artists have used and changed art conventions such as the Salon des Refusà ©s and using the world as a source of ideas to create artworks. These artists include Leonardo Da Vinci from the Renaissance movement and Claude Monet from the Impressionism movement. The artist Chiharu Shiota and Lee Bul have also used the art convention Biennale and the world agent to createRead MorePostmodern Art And Its Impact On Modern Society2133 Words   |  9 PagesPostmodern art is typically anti-establishment and rebellious, the beginning of postmodern art can be found in the late 1950’s-1960’s although the term was first used around 1970. The movement differed from previous movements as it deliberately went ag ainst the rules, artists used many different disciplines within one piece of work. A core value of postmodern art is that it is for everyone and tries to be a connection between art and everyday life. Modernism triggered post-modernism, modernismRead MorePostmodern Art in Andy Warhol ´s Silvier Liz as Cleopatra1194 Words   |  5 Pagesforms of art had made it’s mark in history for being an influential and unique representation of various cultures and religions as well as playing a fundamental role in society. However, with the new era of postmodernism, art slowly deviated away from both the religious context it was originally created in, and apart from serving as a ritual function. Walter Benjamin, a German literary critic and philosopher during the 1900’s, strongly believed that the mass production of pieces has freed art from theRead MoreChoose Three (3) Works of Art from Three Artists from the Baroque Period Through the Postmodern Era.769 Words   |  4 Pagesworks of art from three artists from the Baroque period through the Postmodern era. Your three (3) works of art should come from the time periods or art movements covered in the reading from Unit 4 and Unit 5. Your choices must comply with the following criteria: †¢The 3 artworks chosen must be of the same style or time period. For example, you can choose one of the following suggestions: ââ€" ¦3 Baroque works of art, or ââ€" ¦3 Impressionist works of art, or ââ€" ¦3 Abstract Expressionist works of art, etc.Read MoreArt From Baroque Period Through The Postmodern Era Essay1467 Words   |  6 PagesArt from Baroque Period through the Postmodern Era Renaissance art history began as civic history; it was an expression of civic pride. The first such history was Filippo Villanis De origine civitatis Florentiae et eiusdem famosis civibus, written about 1381-82. Florentine artists revived an art that was almost dead, Villani asserts, just as Dante had restored poetry after its decline in the Middle Ages. The revival was begun by Cimabue and completed by Giotto, who equalled the ancient paintersRead MoreEssay on Art from Baroque Period Through the Postmodern Era1486 Words   |  6 PagesArt from Baroque Period through the Postmodern Era Renaissance art history began as civic history; it was an expression of civic pride. The first such history was Filippo Villanis De origine civitatis Florentiae et eiusdem famosis civibus, written about 1381-82. Florentine artists revived an art that was almost dead, Villani asserts, just as Dante had restored poetry after its decline in the Middle Ages. The revival was begun by Cimabue and completed by Giotto, who equalled the ancient paintersRead MoreModernism : Modernism And Modernism901 Words   |  4 Pages1. Art has evolved over the last century moving from Modernism to Postmodernism. Modernism s birth is somewhat controversial but our text puts it at 1910. Paul Cezanne, who was closely tied with Cubism, has been credited as one of the fathers of Modernism. A lot was changing during this period which produced a slew of new styles such as, Post Impressionism, Symbolism, and Surrealism to name a few. Modernism thrived from the early 20th century until the period denoted by World War II at whichRead MoreThe Movement Of Protest Movement Essay1183 Words   |  5 PagesHistorians nostalgically described the sixties as a counterculture and revolution in social norms, such as: art, sexuality, formalities, and philosophy. The decade was also called the Swinging Sixties because the relaxation of social taboos relating to sexism. Challenging the idea that a good citizen conforms to gender norms and heterosexuality. b. One can blatantly observe this in the art of the time; especially when referring to feminism in dance. i. Examples relating to modern dance. c. Thesis:

Trifles Woman and Mrs. Wright Essay - 959 Words

Question 3, (p. 1135): What are the â€Å"trifles† that the men ignore and the two women notice? Why do the men dismiss them, and why do the women see these things as significant clues? What is the thematic importance of these â€Å"trifles†? The narrator sets the scene; the cold kitchen of the farmhouse the day after John Wright was found murdered in his own bed with a rope around his neck. Nothing has been touched except a fire has been started on the stove to warm the place a bit for when the sheriff and the county attorney would arrive to access the situation and look for a motive. Mrs. Wright who had been found the morning before just rocking back and forth in the kitchen rocker and pleating her apron that lay on her lap, over and over†¦show more content†¦Wright’s defense, the men all head upstairs to go over the crime scene to search for clues. The women; Mrs. Hale and Mrs. Peters knew they were in the center of all the clues. â€Å"Women are use d to worrying over trifles† Mr. Hale said, and because of that, the women uncovered all the clues that would lead to motive and the men would remain clueless. As for the messy kitchen that the attorney did notice but just chalked up to Mrs. Wright not being a good house wife, the ladies noticed that she was in fact in the middle of cleaning up. That half the table was wiped clean and the other half left as if she were interrupted. They also noticed that the towel that the attorney thought to be just thrown across the room was in fact covering a loaf of fresh bread that was to later be put in the bread box. They also knew that the dirty towel roller was probably that dirty from the man they sent to start the fire in the stove that morning so that the house would be warm by the time they arrived. The ladies were to gather some things to take to Mrs. Wright to the jail. They found her sewing basket under the corner table and were admiring the bright pieces and the log cabin patte rn. They wondered if she was going to quilt it or knott it. The men thought this was funny and made fun of them. Unbeknownst to them that the ladies had just found what could be the evidence of Mrs. Wrights’ frame of mind. The ladies noticed that most of theShow MoreRelatedAnalysis Of Trifles By Susan Glaspell846 Words   |  4 Pagesplay â€Å"Trifles† by author Susan Glaspell, shows the feminist content and the failures of marriages. Mr. and Mrs. Wright had been married for a long time. They don’t have a family and live in a place that’s very solitary aside from any other houses. An investigation occurred to find the strange death of Mr. Wright and to discovered evidence if Mrs. Wright killed him. Thus, the play consists of five characters, an attorney, sheriff and his wife, and a neighbor couple that knew Mrs. and Mrs. WrightRead MoreTrifles981 Words   |  4 PagesReview of â€Å"Trifles† Susan Glaspell play, â€Å"Trifles†, revolves around Mrs. Wright, a woman who seeks revenge on her husband for oppressing her through their years of marriage. During the time of Glaspell’s play, early 1900’s, men are the dominant figures in society and women are expected to cook, clean, raise children and care for their husbands. Glaspell’s play, â€Å"Trifles†, main goal is portraying a theme of women being oppressed through marriage by the use of symbolism through a canary and a birdRead MoreChanging The World : One Play At A Time1644 Words   |  7 Pagesand consisted of the man working and supporting the family, and the woman taking care of the home and the family. Women had very little voice in that time and were often treated with little respect due to the cultural norm that men were superior. Two historically influential plays that were written during the birth of feminism are quintessential to the rise of free expression among women. A Do ll House by Henrik Ibsen, and Trifles by Susan Glaspell both explore the unjust role of women in society,Read MoreThe Deception of Trifles: Gender Roles in the Play by Glaspell1550 Words   |  7 Pagesmen carried out in earlier years. In the 19th Century, men stereotyped women to be insignificant, not think with their minds about issues outside of the kitchen or home. In the play Trifles, written by Susan Glaspell, the writer portrays how women in earlier years have no rights and men treat women like dirt. Trifles is based on real life events of a murder that Susan Glaspell covered during her work as a newspaper reporter in Des Moines and the play is based off of Susan Glaspell’s earlier writingRead MoreFeminist Criticism Of Susan Glaspell s Trifles 1512 Words   |  7 Pageswomen. One of her most famous dramas, â€Å"Trifles†, Glaspell showed the females capability to stand up for one another. Gender issues play a role in everyday society, oppressing women eco nomically, politically, socially, and psychologically. Glaspell tries to even explain through the title the feminism analyst as you read through her drama. As common as it is for a title of a story reflects the moral of the story, that’s what Gaspell did for â€Å"Trifles†. Trifles meaning very little value, or irrelevantRead MoreTrifles And The Women Who Worry Over Them1037 Words   |  5 PagesTrifles and the Women Who Worry Over Them At the start of Susan Glaspell’s dark drama â€Å"Trifles† we are introduced to the characters as they all arrive at an abandoned farmhouse previously owned by the recently murdered Mr. John Wright and his killer, and wife, Mrs. Wright. The men’s dominance over the situation and the women is clear from the initial understanding of their individual roles. The men all seem to have important tasks to perform. The sheriff and the county attorney are investigatingRead MoreConflict Between Men And Women918 Words   |  4 PagesConflict between men and women Trifles is a short story that Susan Glaspell wrote about between men and women. It s specifically targeting the way men attitudes were towards women. Trifles talks about a murder that is unsolved, a country woman suspected of killing her husband in an isolated farm. Men in this short story worry more about looking for big evidence and judging about Mrs. Wright s messy kitchen instead of looking in her stuff for evidence. The men think that in the kitchen thereRead MoreThe Yellow Wallpaper, By Susan Glaspell968 Words   |  4 Pagesby Charlotte Perkins Gilman and Play â€Å"Trifles† by Susan Glaspell are two pieces of fictional literature that exhibit the roles of women in a marriage during the period. In the short story â€Å"The Yellow Wallpaper† the reader reads about a woman who has been in a room for the summer to cure her sickness of nervous depression by her husband who is a physician. The play â€Å"trifles† takes place in a farmhouse where the police are investigating the murder of Mr. Wright whose body was discovered when a friendRead MoreLiterary Analysis of Susan Glaspells Trifles1788 Words   |  7 PagesSusan Glaspells Trifles A trifle is something that has little value or importance, and there are many seeming trifles in Susan Glaspells one-act play Trifles. The irony is that these trifles carry more weight and significance than first seems to be the case. Just as Glaspells play ultimately reveals a sympathetic nature in Mrs. Peters and Mrs. Hale, the evidence that the men investigators fail to observe, because they are blind to the things that have importance to a woman, reveals the identityRead MoreFeminism : Women s Rights On The Grounds Of Political, Social, And Economic Equality1529 Words   |  7 Pageswith life today and the 1900s the play Trifles analyzes and shows different views of the rights of women through the title as well as the characters. To begin with, the title Trifles, if defined would give readers the idea that the play will discuss something or someone who has very little value. Being that the term trifle means a little thing of value or importance. The term trifle meant many things in this play. The duties women had were considered trifle because to many they are very insignificant

Corporate Governance Evidence from Private Equity

Question: Discuss about the Report for Corporate Governance of Evidence from Private Equity. Answer: Part 1 - To: Chairman of the Board From: Mr. XXX (Corporate Governance Consultant) Date: 8th August 2016 Re: Roles and Responsibilities of CEO v. Roles and Responsibilities of a Director Sir, This is to bring to your attention that, financial crisis is a way of bringing corporate governance to the forefront. It has been noted currently that many issues take place within an organisation due to lack of defined roles, responsibilities and duties of the companys director as against the duties of the Chief Executive Officer (CEO). According to the Australian Financial Review, it was reported on 14th April, 2016 that many arguments have taken place between the directors and the CEOs due to the lack of their defined roles and responsibilities in the organisation. This report draws attention to the need of separation of powers between the duties of CEO and the duties of the directors. Additionally, this report includes specific recommendations on the separate roles of directors and the CEO. Report: Duties of Directors: A director is the most influential person in the company. Despite of the influence and charisma that is associated with their personality, they are still restricted by rules and regulations in the given organisation (Harford, Mansi and Maxwell 2012). In Australia, the duties of the director are laid in the Corporations Act. As a director, one has the duty to use their powers with care and diligence that is expected from any other reasonable man (Tricker 2015). A director should exercise his powers and duties in good faith and in the best interest of the company. Thus, it is expected from a director to act in the best interest of the organisation. Additionally, the director should not trade while the company is declared insolvent (McCahery, Sautner and Starks 2016). An insolvent company is the one who is unable to pay the debts of the company when they are due. It is a legal offence, if the director is found trading while the company is declared insolvent. Thus, one may conclude that the director of a company is the one who makes the organisation work and has the duty to keep the records of the company. In short, we may consider him as the backbone of the company (Acharya et al. 2013). Duties of CEO: A CEO is the top executive having the responsibility for the management and operations of business. The CEO is the one who has the duty to oversee the working and functioning of all the department and divisions in the company (Erkens, Hung and Matos 2012). The CEO has a wider and broader set of duties and role within an organisation such as setting up of annual budget, goals and targets of the organisation and the goals of the management. The CEO serves the board of directors, allowing them to create strategies that support the Board (Westphal and Zajac 2013). For example, if the Board sets the goal of paying dividends, the CEO will reserve the cash of the company rather than than buying assets or paying debts. In a non-profit organisation if the board sets the revenue goal, the CEO will focus on the development of fund raising goals. Board v. CEO The board of directors have the legal responsibility of ensuring that a business meets its aims and objectives. They are guided and restricted by laws that are imposed on them; they cannot act beyond the defined laws (Claessens and Yurtoglu 2013). The rules that impose a prohibition on the Board narrow their scope of using dictatorship on the broad goals of the organisation. Board members serve many positions at the same time, depending on whether they work for a profit or non-profit organisation or with the vice chair of the company. If a meeting is conducted and the CEO sits on the Board, then he shall be subordinate to the chairperson of the Board (Nini, Smith and Sufi 2012). The Board has the authority to hire, terminate or direct its CEO. At many non-profit organisations, directors who are appointed for a short-term period do not take many responsibilities, allowing the CEO to make most of the day-to-day decisions of the management, including firing, hiring and purchasing (Hermalin and Weisbach 2012). The Board carefully reviews the work of the CEO and takes pre approval on major initiatives on a quarterly or monthly basis. Hence, it may be said that it is the Board that has the ultimate authority of all the decisions that is taken in the organisation. The board has the authority to over ride all the decisions of the CEO. The CEO does not have the authority to refute the request of the Board unless the Board violates any legal provision (Liu and McConnell 2013). In smaller organisations, the Board has the authority to give their final signature over bills and cheques, while in the bigger organisations the CEO can give their final signature and enter into contracts. Hence, it may be said that the CEO has the ultimate responsibility of the organisation when it comes to management of the assets of the company. The CEO can sign the tax return if the treasury of the corporation is not present (Liu, McConnell, and Xu 2015). Recommendations and Conclusion: Relying on the factors that is mentioned earlier, one may conclude that there is lack of clarity between the roles and responsibilities of a director and the CEO. There is no seemingly difference between their duties and roles and this becomes the reason of disparity between the two. Since the directors of the company have legal onus on them, they should have defined roles that clearly state their legal obligations. The working of a company can be divided into the following sub categories such as: Executive; Financial; Managerial; and Legal The financial and the executive working of the company can be managed by the CEO, whereas, the managerial and the legal working of the company can be managed by the Board of Directors. It has been already stated that the CEO is subordinate to the directors of the company; hence, it is advisable to have a set of defined situations in which the CEO shall be considered subordinate to the directors. If there is any exception to these rules, the exceptions should also be clearly indicated. Conclusively, it may be said that with the growing differences between the directors and the CEO, it is important to separate their role from each other. The theory of separation of powers is advisable to the organisation as this would increase the existing disparity between them making the functioning any organisation, almost impossible. Part 2 To: Australian Institute of Company Directors (AICD) From: Corporate Governance Consultant (XXX Company) Date: 8th August 2016 Re: Need for Good Corporate Governance in Investment Report: Introduction: Corporate Governance is the system according to which business and corporations are controlled and directed. Corporate Governance specifies the division of rights and duties among the participants in an organisation based on the framework of corporate governance (Chen, Lu and Sougiannis 2012). An element of corporate governance is important for a successful outcome at all stages in the process of investment. Moreover, it also involves balancing the interest of the stakeholders, managers, financiers, customers, government and the community (Aebi, Sabato and Schmid 2012). This report evaluates the need for good corporate governance and the influence it has with high investor returns. Additionally, it contains a section wherein recommendations are provided so that companies with good corporate governance practices can align these to maximize their investor returns. Investment Process: In a literal sense, investment means money committed or property acquired for future income. The process of investment is divided into three stages: Mobilise available capital; Allocation of capital amongst the ends; and Monitor the use of the capital that is invested (Khan, Muttakin, and Siddiqui 2013). The above-mentioned process is the key functions of the any financial system. From the perspective of market economy, individual investors carry out the process of investment and the ultimate outcome will depend on their personal incentives and skills (Brammer and Pavelin 2013). However, the result will also depend on the organisational framework of regulations, laws and business policies that formulate and influence the associations between corporations and equity investors. The organisational framework is often termed as corporate governance. Link between good corporate structure and high investor returns: One of the most important relationships in market life is the positive association between economic growth and investment. By mixing the factor of quality and quantity of human skills and fixed capital, economies of the world have for more than a century had undergone an unprecedented increase in per capita income. This development has made it feasible to improve the quality of economic life for all the citizens (Jo and Harjoto 2012). The foundation of an investment process is the organisation and the search of efficient ways to mix the different resources available that are needed to produce those services and goods to meet the demand of the market. From the perspective of corporate governance and investment, it is important to focus on the discussion on the ability of the economy to match viable projects that are available commercially along with the financial resources that are needed to change the ideas into profitable enterprise (Armstrong et al. 2015). It is, however, important to note that capital is one among many other inputs that is needed to build a competitive economy. Managerial talent and skilled labour are are also vital for growth of investor returns. This is particularly true for equity financing that permits organisations to increase their exposure to risks that are associated with short or long-term organisations such as business restructuring, research activities and market expansion (Acharya e t al. 2013). However, it is not only about the amount of capital that is available in abundance but also about the economic welfare through formation of capital and this can be achieved only a good corporate governance structure. A regularised framework of good corporate governance structure has become very important for creation of wealth globally. Equally essential is the effectiveness with which allocation is made to alternative investment opportunities and how well the organisations utilisation of investment opportunities is monitored (Tricker 2015). If savings from household and corporate funds do not reach the best possible use, society will give up opportunities that lead to generation of additional income. In such a situation, entrepreneurs will not find proper funding for their projects and existing undertakings will not be able to expand their workings. The organisations that have the potential to yield profitable innovations will never be able to advertise. Additionally, re structuring of companies will also be impaired and assets will be locked due to underperforming activities (Westphal and Zajac 2013). Recommendations: A good corporate governance structure enables enforcement of provisions for protection of property and secure methods of registration and enables legal redress that will help in the mobilisation of capital. This framework is followed in the first step of investment. In the second process of investment, it is important to have a transparent and reliable account of corporate affairs. This shall allow the organisation to make informed decisions about the allocation of capital. At the third stage of investment process, proper procedures for internal corporate decision-making, the distribution of powers in the organisation, and proper incentive schemes are important factors for implementing effective corporate governance schemes. Conclusion: From the perspective of economic policy, one may conclude that the growing importance of good corporate governance structure does far beyond the interests of shareholders in a company. A weak corporate governance structure will impede the stages of investment and hence this will affect the overall economy of the world. Poor corporate governance will damage the capability to mobilise savings and this will affect proper allocation of resources amongst investors. Additionally, this will also prevent proper monitoring of corporate assets. Hence, it is advisable for the organisations to adopt a good corporate governance structure so that it leads to better investor returns. References: Acharya, V.V., Gottschalg, O.F., Hahn, M. and Kehoe, C., 2013. Corporate governance and value creation: Evidence from private equity.Review of Financial Studies,26(2), pp.368-402. Aebi, V., Sabato, G. and Schmid, M., 2012. Risk management, corporate governance, and bank performance in the financial crisis.Journal of Banking Finance,36(12), pp.3213-3226. Armstrong, C.S., Blouin, J.L., Jagolinzer, A.D. and Larcker, D.F., 2015. Corporate governance, incentives, and tax avoidance.Journal of Accounting and Economics,60(1), pp.1-17. Brammer, S. and Pavelin, S., 2013. Corporate governance and corporate social responsibility. Chen, C.X., Lu, H. and Sougiannis, T., 2012. The agency problem, corporate governance, and the asymmetrical behavior of selling, general, and administrative costs.Contemporary Accounting Research,29(1), pp.252-282. Claessens, S. and Yurtoglu, B.B., 2013. Corporate governance in emerging markets: A survey.Emerging markets review,15, pp.1-33. Erkens, D.H., Hung, M. and Matos, P., 2012. Corporate governance in the 20072008 financial crisis: Evidence from financial institutions worldwide.Journal of Corporate Finance,18(2), pp.389-411. Harford, J., Mansi, S.A. and Maxwell, W.F., 2012. Corporate governance and firm cash holdings in the US. InCorporate Governance(pp. 107-138). Springer Berlin Heidelberg. Hermalin, B.E. and Weisbach, M.S., 2012. Information disclosure and corporate governance.The Journal of Finance,67(1), pp.195-233. Jo, H. and Harjoto, M.A., 2012. The causal effect of corporate governance on corporate social responsibility.Journal of business ethics,106(1), pp.53-72. Khan, A., Muttakin, M.B. and Siddiqui, J., 2013. Corporate governance and corporate social responsibility disclosures: Evidence from an emerging economy.Journal of business ethics,114(2), pp.207-223. Liu, B. and McConnell, J.J., 2013. The role of the media in corporate governance: Do the media influence managers' capital allocation decisions?.Journal of Financial Economics,110(1), pp.1-17. Liu, B., McConnell, J.J. and Xu, W., 2015. The Power of the Pen Reconsidered: The Media, CEO Human Capital, and Corporate Governance.CEO Human Capital, and Corporate Governance (January 6, 2015). McCahery, J.A., Sautner, Z. and Starks, L.T., 2016. Behind the scenes: The corporate governance preferences of institutional investors.The Journal of Finance. Nini, G., Smith, D.C. and Sufi, A., 2012. Creditor control rights, corporate governance, and firm value.Review of Financial Studies,25(6), pp.1713-1761. Tricker, B., 2015.Corporate governance: Principles, policies, and practices. Oxford University Press, USA. Westphal, J.D. and Zajac, E.J., 2013. A behavioral theory of corporate governance: Explicating the mechanisms of socially situated and socially constituted agency.The Academy of Management Annals,7(1), pp.607-661.

Policies to Minimize Negative Externalities

Table of Contents Introduction Objectives Conclusion References Introduction Production and consumption of goods and services contributes in different ways to the economy resulting to either economic growth or recession. According to Channon (1999), externalities involve the production and consumption of some products and services that give rise to harmful or beneficial effects to the user. Advertising We will write a custom essay sample on Policies to Minimize Negative Externalities specifically for you for only $16.05 $11/page Learn More Hirschey (2008) believes that exposure of employees to harsh working environment with unsatisfactory compensation can also be termed as negative externality. Externalities are types of market failures that exist when prices in a market do not reflect the true costs or benefits associated with consumption and production. Objectives The objective of this paper is to analyze ways of minimizing negative externalities s uch as emissions. This because of the complex definition of property rights in law. For instance, an industry could pollute the environment but will not bear the cost of the harmful effect, but it will pass its cost of cleaning to the community. Government intervention strategies can be used to reduce the impact of gas emission. The government can work with the community through regulating and influence decision-making by policy formulation and implementation of laws, like mandatory inspection of emission gases. Policies on bans on goods and services that lead to harmful effects on the environment should be enacted and backed by legal measures for lawbreakers. The government can also provide emission permits that enable the concerned party to emit a specified level of gas for a certain period. The government can impose taxes on products that pollute the environment. Secondly, the government can come up with public awareness policy in which it will stipulate measures of making the p ublic aware of the importance of reduced emissions and environmental conservation. Information is power and the moment consumers are aware of the benefits of environmental conservation, they will always act in favor of the environment and on the side that will benefit them as a community. Government intervention strategies are more economical, efficient and the implementation process is less demanding. The government has the power and machinery to implement every policy. What is required is the political will and all will be done (Nordhaus, 1991). When emission of gas is reduced, the rate of global warming is reduced. Less emission of gas preserves the environment and it reduces environmental degradation by toxic waste. The health of the community is improved as air pollution related deaths are minimized. Advertising Looking for essay on environmental law? Let's see if we can help you! Get your first paper with 15% OFF Learn More Transaction Costs will be incurred thro ugh monitoring, enforcing, and negotiation of marketing activities. The government and the community would incur financial costs. Other costs incurred include sacrifices in terms of time and other resources used in environmental conservation through reduced emissions. Nordhaus (1991) believes that any level of gas emission (high or low) leaves the society worse off in terms of high costs of production accompanied by environmental damages. The level of negative externality should always be lower than positive externalities. Therefore, the cost benefit analysis should leave all stakeholders better off with more benefits than costs. Conclusion Appropriate environmental policies such as taxation and ban on harmful product manufacture can help reduce emissions of gases and negative effects to the environment. In addition, instead of focusing only on policies that reduce emission of gases, the state needs to put more emphasis on ways and mechanisms to cope and adapt to global warming. Re ferences Channon, F.D. (1999). The Blackwell encyclopedic dictionary of strategic management. Oxford. Wiley Blackwell Inc. Hirschey, M. (2008). Management economics. 12 Edn. Ohio, OH: Cengage Learning. Nordhaus, D.W. (1991). To slow or not to slow: The economics of the greenhouse effect. The Economic Journal, 101(407), 1-10. This essay on Policies to Minimize Negative Externalities was written and submitted by user P1erre to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.