...Milton Friedman started the documentary Free to Choose part-3 Anatomy of a Crisis with the genesis of the Great Depression of 1930. Friedman articulated it was the Wall Street Crash on October 29, 1929 better known as “Black Thursday” that began the trickledown effects on the United States economy. Friedman claimed that bellied up businesses and bank failures in the south and mid-west of the United States contributed to the Great Depression. Friedman believed that it was not deemed a crisis until failures reached New York. One casualty the Bank of the United States in New York, New York was in jeopardy of bank failure. Friedman express that although the Federal Reserve Bank of New York whose primary functions are to prevent and or assist banks from bank failure was unsuccessful regarding the Bank of the United States dilemma. With several attempts Federal Reserve Bank proposed that the Bank of the United States merged with other local banks. By doing so a guarantee fund for depositors would cover the Bank of the United States loss and keep it afloat. Ultimately the Bank of the United States shut down December 10, 1930 due to competition from surrounding banks and racism. Friedman goes on about how the Federal Reserve Bank and their unwillingness to create new money by purchasing government securities at a grand scale. Friedman conveyed that the bank failure of the Bank of the United States would have been handled differently and fitting during that time if a Benjamin Strong...
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...Wilson 1 Milton Friedman is considered to be one of the most prominent and influential economists of the twentieth century. Friedman’s ideas have changed economic theories as a result of his beliefs in free-market capitalism, competition in education and less government control. He received worldwide recognition for contributing to the balancing and solving of economic issues. He has been recognized by creditable universities and international governments. Friedman developed economic theories that could possibly be studied forever. His theories on economics have contributed excessive cash flow to the world over an extended period of time (Ebenstein). Friedman was born in 1912 and died in 2006. He was an economist, an educator and a leading proponent of monetarism. He received degrees from Rutgers University, University of Chicago and finally a Ph.D. from Columbia University. In 1976 he received the Nobel Prize for economics. Friedman felt that the understandings of economics enabled one to understand how the real world worked (Ebenstein). Friedman studied income and wealth distribution along with distribution of personal finances. His career included working for the National resource Committee on Consumer Budget Studies in 1935, the National Bureau of Economic Research in 1937, the Department of Treasury Division of Tax Research during World War II and he also taught at the University of Chicago. He advised President Nixon and President Reagan on Wilson 2 ...
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...THE ECONOMIC THEORIES OF MILTON FRIEDMAN The Economic Theories of Milton Friedman Milton Friedman was one of the top and most influential economists whose conservative economic theories became influential during the last part of the twentieth century. This paper will explore his economic theories and how his policies were embraced by some conservative politicians but are not as widely adopted today. Milton Friedman would famously say “there is no such thing as a free lunch” (Moore 2012). What he meant was that everything comes with an opportunity cost. If the government spends money then that money must come from the private economy. He was an advocate of capitalism and his views helped revive modern capitalism in the latter part of the twentieth century. He was a proponent of the free market economic system and was opposed to government interference in the economy. Many of his theories have become accepted and lauded by modern day conservative politicians. Milton Friedman was born in Brooklyn, NY in 1912 to immigrant parents. He was awarded a scholarship to Rutgers University where he majored in mathematics. While at Rutgers he became interested in economics due to the poor state of the economy during the Great Depression. After graduating from Rutgers University he went on to receive his master’s degree from the University of Chicago and then on to Columbia University for his doctoral work (Academy of Achievement...
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...Milton Friedman Milton Friedman was born on the 31st of July 1912 and died on the 16th of November 2006. In 1938 on the 25th of June he got married to Rose Friedman and the years later, he won a Nobel prize for economics science in 1976. He was influenced by John Keynes, Friedrich Hayek and he influenced Margaret Thatcher, Gary Becker Matt Laar and many more. Milton Friedman believed in the free market, this is when there is little or no control by the government. The government only impact the market when necessary. The price people pay for items is agreed through the buyers and sellers. Another one of Milton’s theory’s is the ‘stockholder’ theory or otherwise known as the ‘Friedman Doctrine’. This theory means that the companies only responsibility is to increase profits for the owners as long as it doesn’t get the attention of fraud. According to this theory we will make decisions on how much to spend depending on how much income we believe we will have. An example of this is if we earn $150 a week we will only buy what is necessary. One of Milton Friedman’s famous quotes about the free market is “A major source of objection to a free economy is precisely that it ... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.” (Study.com)...
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...Thomas Friedman talks in his book how the world is getting flatter because the new innovation in technologies have made easier for everyone to communicate with anyone around the world. For example you can have a job interview thru Skype with the employer being in another country or in the same city. Even though there is people that disagree with Thomas Friedman because some believe we are not there yet or because it’s not flat but curve everyone has its own opinion. It is true that it could be that not all the country are part of these new era of globalization and innovations of technology but they are being integrated little by little. I personally agree with Thomas Friedman we can see that there is no more barriers between countries anymore. Those countries that haven't being part of these flatter world sooner or later they will be part and it will only make a bigger flatter world. I also agree with Freidman that these flatter world had created a big outsourcing in America. There is more competition between countries than in another times. The potential impact for students looking for jobs it’s big. The internet had open a new horizon and new ways to search for jobs. Technology has made it easier to search a company to see what they offer and what they do in a very specific way which helps a students prepare for an interview with the company. The enlarged database helps students get a better understanding where the places that are recruiting are personal. Students today have...
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...Milton Friedman Jordan Locke Economics 10 April, 2013 Jordan C. Locke 10 April, 2013 Period: 2 Ms. House Milton Friedman Milton Friedman once said, "If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand”. Due to Friedman's many accomplishments and published works in the Economics field, I felt that he would be a great economist to write about. Milton Friedman was born in 1912, to two Jewish immigrant parents that lived in New York City. He earned his Bachelor's degree at Rutgers University at the age of twenty. He then went to the University of Chicago in 1933 to earn his Masters. In 1946, he earned his Doctorate at the Columbia University. He received the John Bates Clark Medal, honoring economists that had achieved the most outstanding levels of achievement by the age of Forty. He received the Nobel Peace Prize for his achievements in the field of consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy. He served as an adviser for President Richard Nixon, and he was the president of the American Economic Association in 1967. He retired from the University of Chicago in 1977, and became the senior researcher at the Hoover Institute at Stanford University. He was the premier spokesman for the monetarist school of economics and a pioneer in promoting the value of free market economics, when the position was not popular. Milton Friedman was a...
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...firms are now presented with a menu of investment opportunities that span the globe. These investments, which include the purchasing of materials from overseas vendors or stocks from foreign corporations to outsourcing labor, demonstrate the positive and negative effects involved in an increased globalized market place. The practice of outsourcing on the part of firms is a “text-book” example of how the limitations of access to resources and labor are not as relevant as they once were, seeing as how today’s firms can sustain or increase their competitiveness simply by implementing cost-effective measures such as purchasing cheaper goods or hiring a cheaper labor force in foreign markets. One of the most notable statements made by Friedman is that any work that can be digitized will flow to those who are best able to do it. This couldn’t be closer to the truth considering the occurrences during the recession of the past two years. As the economic downturn continued, the profitability of many companies decreased, therefore prompting the managers of these companies to seek out cost-reducing measures that would allow them to survive. For companies with components that are intangible in nature, such as customer service, but included a costly operational process, such as call centers, many of these measures led companies to downsize their existing labor force and outsource operations to foreign markets that could provide the same...
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...Realign headings, do undone sections, add comments, cite stuff, go over, running head no parenthesis, fictional characters, page numbers, every section citation Freidman’s Assessment of the Quant-Olson Family Olivia Bertram Tarleton State University NURS 3360-010 Family and Community Health Nursing Nancy Gaither, MSN, RN Dokagari Woods, PhD, RN April 20, 2016 See page 87 in the DON Student Handbook And OWL at Purdue https://owl.english.purdue.edu/owl/resource/560/16/ For this example, I added page breaks. The reference page and Appendix, should both begin on new pages. The entire paper should be double spaced, with no extra spaces between paragraphs. Click on Home: then the down arrow next to paragraph. Make sure line spacing is set to double space and spacing before and after is both set to 0 Everything in Yellow should be deleted or changed Family Assessment Paper Freidman’s Assessment of the Quant-Olson Family Including identifying data The persons in this paper are fictional. The Q-O’s live in Weatherford, Texas. They are a Catholic Caucasian family who are considered low class. They are considered a single parent, extended family who are currently unable to move out of their social class due to their lack of financial stability to move into the next class. They work as much as they can but are not able to keep up with the demands of their necessities. When their family size grew so did their hardships (Quant-Olson, personal...
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...Patient is 29 year old self referred nurse who presents with complaint of increase in frequency of migraine headaches. Patient reports migraines are frontal, throbbing, rates 7-8/10 on pain scale, usually early am or at hour of sleep, last 1-2 hours, and have been increasing in intensity (6/10 to 8/10) and frequency (from twice a month to 1-2 a week). She states Frovatriptan 2.5mg and rest has usually brought relief, and now is requiring 2nd dose of Frovatriptan to obtain relief. She states her migraines are associated c nausea and sensitivity to light. Pt states she normally experiences migraines around her menstrual cycle and when she consumes ‘too much’ alcohol. Over the past two months, her shift at the hospital has included rotating day/night 12 hour shifts. She admits to increased stress levels at work secondary to increased patient load and acuity. Medications: B complex vitamin 50mg PO BID; Frovatriptan 2.5mg PO q2h PRN migraine (max 3 tabs/24hours) Allergies: NKDA Tobacco – pt states she smoked 1 ppd x 12 years, quit 4 months ago c assistance of Chantix Alcohol – 2 drinks on weekend. Drug – denies Childhood Illnesses – Pt states chicken pox when 6 years old Adult illnesses – Migraine headaches first appeared at age 13 with onset of menarche – diagnosed as migraine headaches at age 14. Surgical history – Wisdom teeth x 4 (age 17) removed s complications OB/GYN – Pt states no pregnancies, menarche at age 13, condoms for birth control, is sexually active...
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...Physiology of Blood Components, Characteristics, Functions of Blood Major Components of Blood 1. Formed elements - the actual cellular components of blood (special connective tissue) a.erythrocytes - red blood cells b.leukocytes - white blood cells c.platelets - cell fragments for clotting 2. Blood plasma - complex non-cellular fluid surrounding formed elements; protein & electrolytes. Separation of Components in a Centrifuge VOLUME LAYER clear/yellowish PLASMA 55% top thin/whitish buffy coat proerythroblast ->early (basophilic) erythroblast ->late (polychromatophilic) erythroblast ->(hemoglobin) normoblast -> (nucleus ejected when enough hemoglobin)reticulocyte -> (retaining some endoplasmic reticulum) ERYTHROCYTE life span: hemocytoblast -> reticulocyte 3-5 DAYS reticulocyte -> ERYTHROCYTE 2 DAYS (in blood) ERYTHROCYTE lifespan 100-120 DAYS (primarily destroyed by macrophages in the spleen) 3. Regulation of Erythropoiesis a. hormonal controls - erythropoietin is the hormone that stimulates RBC production DECREASED oxygen level in blood causes KIDNEYS to increase release of erythropoietin 1. Less RBCs from bleeding 2. Less RBCs from excess RBC destruction 3. Low oxygen levels (high altitude, illness) ...
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...Health Care Professional Lingareddy Akshay Reddy Instructor name: Patricia Otiede Module: Management Practices for the Health Professional 04/16/2016 So while talking about the financial backing cuts issue with alternate officers of associations managers ought to introduce the information how the instruction programs for workers have helped the representatives and execution and nature of association. What's more, requirement for training programs for future ought to be talked about. The disservices of decreasing instruction spending plan ought to likewise be examined which will give a period to think for different officers of divisions. After investigation and getting results an overseer or supervisor ought to make a presentation and make information like measurements, force point presentation, diagrams, pie graphs, and so forth and audits from workers, coaches and now and then buyers ought to be recorded. Every one of this information ought to be gathered and exhibited convincingly to hold the instruction spending plan. How association's execution and quality gets influenced adversely by diminishing instruction spending plan ought to be introduced to the officers of association. By showing the benefits of instruction spending plan and detriments of diminishing training spending plan one can hold the instruction spending plan, yet the method for presentation ought to be fitting and persuading. Each time some new advances comes and workers must...
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...Milton Friedman and Free-Market Capitalism Milton Friedman is known worldwide for his belief in defending free-market capitalism and his faith that it can proficiently and impartially distribute wealth throughout a nation. Most of Friedman’s peers are not able to put that same amount of confidence in the ability of the market as he. Friedman has suspicions of government interference in the business of a nation’s economy. These suspicions are based on his belief in a limited government and that a capitalist economy free of government interference would provide the best choices for a consumer. Instead of being so involved in the market, he believes that the government has a responsibility to keep a high standard of living through certain functions like defense, education, and public utilities and set certain laws regarding economic policy in order to keep in check the “game” of economics. (Friedman 25) Friedman suggests that the government pass “a legislated rule instructing the monetary authority to achieve a specified rate of growth in the stock of money.” (Friedman 54) Besides serving this purpose, Friedman believes the government’s interference is detrimental. Friedman’s Suspicions of Government Interference The United States government portrays the idea that without government intervention, society’s economic growth would stagger. According to Friedman, economic growth and stability are due to the reduction of government interference. Friedman has many reasons for why he believes...
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...Response to Friedman It would seem academia's view of the Massive Open Online Course (MOOC) is split. There are some that would like to believe MOOCs are the next revolution in education. One such person is Thomas Friedman, an author and columnist for the New York Times. Friedman has high expectations of MOOCs and states, "I can see a day soon where you'll create your own college degree by taking the best online courses from the best professors from around the world."1 On the other hand Karen Head, an assistant professor for Georgia Institute of Technology, initially wanted nothing to do with them. She stated, "I wondered how anyone could possibly teach writing in a massive open online course--a question that many of my colleagues are still asking."3 Friedman posits that innovation will come because of demand from the market, parents, students and even the federal government.2 Karen is part of that innovation not only as a professor but as a planner in the program. Her experience in preparing the MOOC for Georgia Tech will certainly challenge Friedman's idea of cheap. Perhaps if Friedman expanded on the idea of initial cost vs. maintenance cost of a MOOC it wouldn't appear cheap in the short term. In this case of start-up costs for a university it would have to be seen as an investment. In the long term gains would be seen, provided their program is a successful one. In the end Friedman holds on to his idea of a revolutionary new way to educate the world. For Karen...
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...Major world events of the last 25 years irreversibly altered the way we conduct business and collaborate on a global scale. Thomas Friedman identifies and names these events the “ten flatteners,” as discussed in his book “The World is Flat.” Each of these ten flatteners contributed to the changing nature of global communication and information sharing into the 21st century. The first flattener, the collapse of the Berlin Wall on November 9th, 1989, signified the end of communism and permitted us to view the world on a single flat plane. Only five months later, the first Windows breakthrough operating system was launched. The second flattener, Netscape, is the first commercial browser that connected the Internet with the World Wide Web and brought the Internet alive as a device people could use to connect with one another. Netscape triggered the dot-com bubble and installation of fiber optic cable that allowed people all over the globe to communicate virtually for free. The third flattener, workflow software, revolutionized the way applications can connect with many other applications, allowing people all over the world to work together on more projects than ever before. Workflow software created a global platform for multiple forms of collaboration. The fourth flattener, outsourcing, is the first new form of collaboration empowered by this global communication platform. Offshoring, open-sourcing, supply chaining, insourcing and informing are flatteners four, five, six, seven...
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...safiek@umt.edu.my Azizul Yadi Yaakop Faculty of Management and Economics, Universiti Malaysia Terengganu 21030 Kuala Terengganu, Malaysia e-mail: azizul_yadi@umt.edu.my (Received: 9-11-11/ Accepted: 30-11-11) Abstract The widespread use of mobile phones, the various information access means that it provided to its users, and the vast presence and significant impact of mobile phone on users’ daily life make mobile phones important devices to study. This paper focuses on studying the importance of different choice criteria in mobile phone selection among Malaysian consumers. A quantitative study drawing data from 376 university students was employed. The collected data were analyzed using SPSS. Descriptive statistics, factor analysis, and Friedman test have been employed in the study. The principal components factor analysis resulted in seven independent dimensions: (1) innovative features, (2) image, (3) price, (4) personal recommendation, (5) durability and portable aspects, (6) media influence, and (7) post-sales service. The top three most important factors influencing consumer choice of mobile phones are: innovative features, recommendation and price. Several managerial implications are drawn from the results and future research suggestions are provided. Keywords: Mobile phone, Choice criteria, Malaysia. 1. Introduction The development of mobile communication technology (e.g. wireless Internet, the mobile phone, MP3 player, GPS navigation system) has been a long journey...
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