Premium Essay

Great Transformation

In:

Submitted By melb1529
Words 1236
Pages 5
The Great Transformation was the most influential set of events that lead to the emergence of the market society. This had significance affect on the history of economics, which effected society throughout the ages that determined how we live.
Economics is a social science that studies how individuals, social organizations and governments make choices on allocating resources to satisfy their material needs.
According to Heilbroner, “the economic problem is simply the process of providing for the material well-being of society”(Heilbroner p.159). In essence the problem lies in the illusion of scarcity that motivates production and distribution of material goods. This illusion of scarcity is the driving force in a capitalist cycle of profit through production and distribution. If the illusion of scarcity didn’t exist and goods would become abundant then economics (money) would not be the chief preoccupation. As our wealth increases so does our need to obtain excessive amounts of goods. With the advancement in technology and mobilizing human energy increase production exceeds how fast nature can procreated its yield. Therefore scarcity of nature is not only to be blamed but human nature as well.

According to Heilbroner economic problem creates an imbalance in the production and distribution of goods and services. Production is a system that is highly organized with mobilizing effort using human energy for production of goods and services. Mobilizing effort is not enough, without proper allocation of the right goods and service and producing the right amount of product that is essential for human survival. Production is only one part of the problem, the second part of production deals with distribution. Without adequate distribution of products (goods and services) the cycle comes to a stop and could cause economic collapse.

Throughout the course of

Similar Documents

Premium Essay

The Great Gatsby Transformation

...At a young age, Gatsby separates himself from his family and dedicates his life towards becoming wealthy and gaining social status. To erase his history as the poor son of farmers, seventeen-year-old Gatsby changes his name from James Gatz to Jay Gatsby. Following the changing of his name, Gatsby disassociates himself from every aspect of his past and later attempts to convince other people that he inherited his money and went to a prestigious school, and “to this conception he was faithful to the end” (98). In reality, Gatsby attends “a small Lutheran college of St. Olaf in southern Minnesota,” where he has to work as a janitor to pay his tuition. He begins doing various jobs for a millionaire man named Dan Cody, who becomes Gatsby’s mentor. Seeing Dan Cody on his yacht inspires Gatsby to consider the possibility of becoming a member of high society. The yacht “represented all the beauty and glamour in the world” (100) to Gatsby. Through Dan Cody, Gatsby experiences the life of the upper class, and he decides that he wants to have a life exactly like that. When Dan Cody dies, he leaves Gatsby an inheritance, but Gatsby never receives it. Determined to acquire money another way, Gatsby takes part in illegal business. His natural ambition allows him to quickly become successful. With his money, Gatsby buys a house in West Egg and hosts extravagant parties in an attempt to gain popularity. Gatsby also adopts “an elaborate formality of speech that just missed being absurd” (48) in...

Words: 377 - Pages: 2

Premium Essay

The Great Transformation

...The Great Transformation Many historians have viewed the economic status of societies as the direct result of human nature Economist such as Adam Smith related this to our unconscious nature to truck, barter and trade. Our inability to survive without the service of others availability, lead to the production of the “economic man” of today. The “extraordinary assumption” that economics has been ingrained in the evolution of human kind has clouded our ability to look at the past economy-less societies that have left behind pyramids and complex systems of trade. Polanyi has emphasized that the movement between a market as a supplementary tool for the ease of exchange and a market society with the interest of materialistic gain. He highlights the difference between the “uncivilized man “ that pertained to the safeguard of his social standings, claims and assets as compared to the economic man that fuels a self-regulating market run by market prices. Polanyi supports his claims by pointing out three economic systems that existed before the rise of market economy economy and allows the reader to take a closer look at historic societies like that of the Trobriand Islanders of Western Melanesia that have depended on a communist economy. Weber, Heilbroner and Rienhart build on Ponlany’s points out the ideologies of this “Great transformation”. Adam Smith paints a picture of an economic man that utilizes “ capitalistic psychology” to further support truck, barter and trade. The importance...

Words: 1054 - Pages: 5

Premium Essay

Jay Fitzgerald's Transformation In The Great Gatsby

...Jay Gatsby the main character in Fitzgeralds The Great Gatsby represents the self improvement that embodied America in all of its grit and glory during the 1920’s. It is this aspect of Gatsby that F. Scott Fitzegerald created which allows the reader to connect on a personal level making him one of the world’s most cherished and memorable fictional characters. Gatsby is a mere image of Fitzegerlds wildest imaginations and dreams. Fitzgerld always wanted wealth and notirity and he lives through is character to accomplish his goals. Fitsgerald also lives out his own inner complexity and confusions through Gasby as he himself hates the shallow thoughts and actions of the rich and famous while at the same time he despertaly wants to be a part...

Words: 929 - Pages: 4

Premium Essay

Great Gatsby Transformation

...The Great Gatsby begins with a general description of the characters life before they met Jay Gatsby- where before he may have been living an unfulfilled life, Gatsby changed that. This led to his accusations of 'being a politician' which suggests that after meeting Gatsby his mannerisms changed. While the beginning primarily focuses on the introduction of the main character and his privilege, it soon goes into his life before, and leading up to the meeting of the infamous Jay Gatsby (also, in the lead up to meeting the character, Carraway focuses on details of Gatsby's mansion - 'with a tower on one side, spanking new under a thin beard of raw ivy, and a marble swimming pool' and the parties - 'men and girls came and went like moths'.) However, the narrator tends to digress off the main subjects - the vivacious parties and social gatherings that the story focuses on- to fill in the gaps, and, again assure the reader that he isn't spending his life in luxury and had been working alongside the extravagant parties he'd attended. The form of The Great Gatsby is a narrative as Nick Carraway is giving a direct storytelling to- indeed, what he deemed most important- the goings on in his life. There are many aspects of love in The Great...

Words: 468 - Pages: 2

Free Essay

Stratafin Inc

... The imperatives for transformation were twofold. First, the company wanted to become global and position itself as a best-practice international accounting firm in the African continent. Second, it wanted to achieve race and gender diversity at all levels within the organisation. Ben Adams was appointed to manage the change. Analysis: Key changes that Ben Adams drove: Adams took several key steps like creating a new identity, creating a vision/strategy and communicating it effectively thus getting the buy-in of employees, insuring short-term wins and managing resistance to change in order to support the transformation process. However this paper will focus on two key steps that he took and address if Adams was effective in his leadership of these two areas. 1 Developing a vision/strategy & Effective communication to obtain employee buy-in Adams pursued active management by taking into account employees’ views of the firm. He took a participative approach towards formulating an effective transformation strategy for the firm. Organisation of a conference with a cross-section of employees balanced between race and gender helped solicit recommendations on a transforming strategy and encouraged buy-in from StratAFin staff. There was free-flow of information and the effects of transformation on employees and the firm were discussed. He consolidated all information into one common vision, value system and strategy to ensure unity. A transformation covenant with seven objectives...

Words: 1377 - Pages: 6

Premium Essay

Strategy Partnership

...on TD transformation planned. The transformation of TD is based on “ARMY 2 10 Plus 10” planned which started in 2004 and will continue until 2020 and beyond. The focus of this transformation planned is strategic transformation on the changes of equipment to cope up with current environment; the changes in threat and technological advancement on military hardware act as driving force for TD transformation. The transformation focuses on training and operational equipment together. However this transformation planned is not definite because of uncertain financial budget. TD could not decide on the equipment early on and must wait for the approve budget. Other than uncertain budget, Army also faces with the problem of underperforming contractors which resulted in delay in delivery and cancellation of project. Issues The transformation planning is not details enough since the type of equipment that going to be change or procure could not be decided earlier due to uncertain financial allocation that will be provided by the government. The loose planning may spell disaster in the process of transformation. The underperforming contractors also raised the eyebrows; where contract had been terminated which cause valuable time and money. Discussion The type of transformation is strategic in nature because the army is modernizing their forces to suit with current environment in order to maintain her competitive edge (Cumming & Worley, 2008, p. 12). This transformation is needed...

Words: 921 - Pages: 4

Premium Essay

Operations Management for Mbas 5th Edition

...Operations Management for MBAs Operations Management for MBAs Fifth Edition Jack R. Meredith Scott M. Shafer Wake Forest University VICE PRESIDENT & EXECUTIVE PUBLISHER EXECUTIVE EDITOR PROJECT EDITOR ASSOCIATE DIRECTOR OF MARKETING MARKETING MANAGER MARKETING ASSISTANT PRODUCT DESIGNER MEDIA SPECIALIST SENIOR CONTENT MANAGER SENIOR PRODUCTION EDITOR PHOTO DEPARTMENT MANAGER DESIGN DIRECTOR COVER DESIGNER PRODUCTION MANAGEMENT George Hoffman Lisé Johnson Brian Baker Amy Scholz Kelly Simmons Marissa Carroll Allison Morris Ethan Bernard Lucille Buonocore Anna Melhorn Hillary Newman Harry Nolan Wendy Lai Ingrao Associates This book was set in 10/12 ITC Garamond light by MPS Limited and printed and bound by RRD/Jefferson City. The cover was printed by RRD/Jefferson City. This book is printed on acid free paper. Copyright © 2013, 2010, 2007, 2002, 1999 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to...

Words: 67515 - Pages: 271

Premium Essay

Business Plan for a Coffee Shop

...Alice Watson BUSINESS ASSIGNMENT A Cup of Books Hypothetical Business Plan A CUP OF BOOKS A CUP OF BOOKS 1. Executive Summary This business plan outlines the main goals and features of A Cup Of Books a second hand as well as new bookstore with a café within. This business plan includes: * Business Goals -Two short term -Two long term * Business idea/description/outlook -Situational analysis -Description of motive * Operational Plan -Inputs - Process Transformation - Outputs - Quality management * Marketing Plan -Target Market identification -Marketing mix * Financial plan -Budget * Human resource plan - Staff number - Staff role -Staff acquisition - Staff training and development - Employment contracts 88 words 2. Goals 2.1 Short-term goals: 2.11 To establish a customer basis in the wider area by receiving a thousand likes on Facebook and 500 followers on Instagram, within 12 months so to establish the brand and product name and create popularity amongst younger generations. 2.12To create goodwill within the local area by creating a regular business rate as part of peoples morning routines via either morning discounts or loyalty coffee cards, so to ensure the businesses reputation is positive and therefore create a good atmosphere in association to the store and returning customers, all within 12 months. 2.2 Long-term goals: 2.21 To become the sole bookstore within 50km radius due to directing the target...

Words: 2014 - Pages: 9

Premium Essay

Anz Case Study

...It is generally accepted that the first step in maximising performance and gaining the people advantage is through an organisations culture. Why is this the case? “Culture can be defined as the set of key values, beliefs, understandings and norms shared by members of an organisation” (Kitmann et al., 1986; Smircich, 1983). For a company to maintain an advantage over their competitors they must first look internally to ensure they have effective employees. ANZ recognised just how important this is when they identified the need to make changes to the organisation, “... then we needed to change the hearts and minds of the people inside the organisation” (ANZ Case Study, 2012). Managing corporate culture is important for two reasons, the first reason is that managers are unable to be present for every minute during business hours so culture will shape the way employees work without constant supervision and secondly, maintaining a strong corporate culture influences the employees decision making so they make the best decision for the organisation. The effects of culture are not limited to the internal environment but also the external environment, the culture of the workplace controls the way employees behave amongst themselves as well as with people outside the organization. Because the culture of an organisation is highly visible they facilitate adaptation to the external setting plus integration of internal processes. Negative corporate culture has effects on immediate stakeholder...

Words: 850 - Pages: 4

Free Essay

Transformation Through Self-Control and Assertion

...Metamorphosis is the process in which a caterpillar transforms into a butterfly. The lowly caterpillar wraps itself into an ugly cocoon and over time the miraculous transformation occurs and out of that cocoon emerges this beautiful butterfly. Bill Rago, the main character in the movie Renaissance Man, goes through a similar transformation in his life. Bill is a divorced, passive-aggressive, advertising executive who reaches rock bottom when he loses his job and is forced to seek out unemployment. His unfortunate circumstance lands him a temp job as a civilian teacher on a military base. The problem is that he does not have any teaching experience and he is given a class of eight students who supposedly lack the basic comprehension skills to be successful in the military and are required to pass his class in order to complete basic training. Bill had to learn how to assert himself with this ragtag bunch in order to complete his assignment. According to Randy Paterson, assertiveness is a communication style in which a person realizes that they are in control of their own behavior and decision making (19). Bill, played by actor Danny DeVito, needed to learn that he dictates and controls his life and not other people or life circumstances. In order for him to transform and regain control of his life, Bill had to begin to assert himself in all areas of his life. One thing that portrayed Bill Rago’s lack of assertiveness, was the fact that he minimal self-control at best....

Words: 1058 - Pages: 5

Premium Essay

Business

...10.1 HSC topic: Operations -> is about planning & controlling operations with the aim of minimizing cost, maximizing productivity, improving efficiency and achieving strategic business goals 25% of indicative time The focus of this topic is the strategies for effective operations management in large businesses. | Outcomes The student: H1 critically analyses the role of business in Australia and globally H2 evaluates management strategies in response to changes in internal and external influences H3 discusses the social and ethical responsibilities of management H4 analyses business functions and processes in large and global businesses H5 explains management strategies and their impact on businesses H6 evaluates the effectiveness of management in the performance of businesses H7 plans and conducts investigations into contemporary business issues H8 organises and evaluates information for actual and hypothetical business situations H9 communicates business information, issues and concepts in appropriate formats Content Students learn to: examine contemporary business issues to: discuss the balance between cost and quality in operations strategy examine the impact of globalisation on operations strategy identify the breadth of government policies that affect operations management explain why corporate social responsibility is a key concern in operations management investigate aspects of business using hypothetical situations and...

Words: 1745 - Pages: 7

Premium Essay

Oticon (a) – Case Analysis

...The RIGHTS about the process of transformation of OTICON  In 1987 the firm analysed itself and made a judgment to transform itself for survival.  Decided to select a person from outside organisation to lead who was capable of taking risks, well experienced in different fields and proven track record.  Transformation from a rigid structure to flexible knowledge based company.  Introduction of sense of equality among the employees eliminating the vertical structure.  Creation & implementation of the theme – “think the unthinkable”  Excellent communication regarding transformation and holding a press conference to float the information in turn turning the employees themselves in to ambassadors of the theme or vision that was created.  Initiated the change in employees for the transformation by “empowering” them by providing the necessary support and training and giving them the freedom as to what role they need to play in the transformation.  Integration was effective in organizing employees from different functionalities to form a cross functional team exposing them to different corners of business. The WRONG about the process of transformation of OTICON  The employee retrenchment process could have been done in a better way as it created some amount of fear initially.  The transformation started in a bad way with retrenchment and later on the good things were put into picture...

Words: 253 - Pages: 2

Premium Essay

Create

...The Design Space of Metamorphic Malware Andrew Walenstein†, Rachit Mathur‡, Mohamed R. Chouchane†, and Arun Lakhotia† University of Louisiana at Lafayette, Lafayette, LA, U.S.A. McAfee Avert Labs, Beaverton, OR, U.S.A. arun@louisiana.edu rachit_mathur@avertlabs.com mohamed@louisiana.edu walenste@ieee.org ‡ † Abstract: A design space is presented for metamorphic malware. Metamorphic malware is the class of malicious self-replicating programs that are able to transform their own code when replicating. The raison d'etre for metamorphism is to evade recognition by malware scanners; the transformations are meant to defeat analysis and decrease the number of constant patterns that may be used for recognition. Unlike prior treatments, the design space is organized according to the malware author's goals, options, and implications of design choice. The advantage of this design space structure is that it highlights forces acting on the malware author, which should help predict future developments in metamorphic engines and thus enable a proactive defence response from the community. In addition, the analysis provides effective nomenclature for classifying and comparing malware and scanners. Keywords: Metamorphic Malware, Virus Scanner. 1. Introduction Metamorphism is the ability of malware to transform its code. This ability was first introduced in viruses and was later used by worms, Trojans, and other malware. There now exist several metamorphic engines—programs that implement...

Words: 5825 - Pages: 24

Free Essay

Fsu Essay

...and create an environment inside so when you look through the cut hole on the side of the box, your perspective would shift and the box would seem bigger than it really was. I watched my peers use reflection or miniature things to give the illusion of a larger space, but I took a different approach. I created device through which light changes, shapes transform, the back-, mid- and foreground become one, and the world is not fixed: a kaleidoscope. The evolving patterns and sequences appeal to my vision of nature, my view of myself. I am, like everyone really, a “masterpiece” in the making. I begin as a sketch, or many sketches, and evolve into something greater than the pieces of my origin. No one ends up the way she expects. Like the transformation of the grey clouds into beautiful images, or the constrained box into an expanse of possibilities, I believe it is all about perspective. Our ideas change just like the way we want to execute our “dreams”. So, here I sit, writing an essay for FSU, thinking about perspective and change and the future. Isn’t this what global awareness is about? Recognizing the same in the difference,...

Words: 362 - Pages: 2

Free Essay

Management Consulting

...Client – Getting it Right from the Start 1. Client—getting it right from the start. “The whole consulting process begins and ends with the client,” Cope writes. “And it is imperative you apply sufficient time and energy to understanding the person as well as the problem.” Cope helps the reader consider several aspects of working with clients. At the end of each section, he asks a “back pocket question” that should be considered during a project, such as, “Am I able to view the problem as the client sees it?” All the questions are printed on a Seven Cs “pocket guide” that you can tear out of the book and take with you to assignments. “Trade is a social Act”. • Orientation – Viewing the problem as the Client sees it (including their perception) • Desired Outcome – Bringing clarity of the desired outcome (the real value and not just an end-state) • Change Ladder – Removing the fog from the problem by focusing on where change may be required • Situation Viability – Studying if the issue can be successfully resolved and see if the timing is right for change • Decision Makers – Having a clear picture of the decision makers who can influence the initial stages of contract development • Ethos – Considering if the changes will be coercive or participative in Nature • Contract – Establishing a contract that sets out a framework for action and measurement Clarify – Understanding the Real Issues 2. Clarify—understanding the real issues. Cope quotes Claude Levi-Strauss: “The...

Words: 1256 - Pages: 6