Profit maximization vs social responsible essay

Social Responsibility The following writing assignment focuses on a major issue today: Another way this issue can be viewed is by asking the question: Some take the view: At the other extreme are those who advocate a paternalistic approach, or even prior censorship of programming.

Profit maximization vs social responsible essay

Profit maximization vs social responsible essay

Posted on February 9, by Scott Alexander I. Tyler Cowen writes about cost disease. Cowen seems to use it indiscriminately to refer to increasing costs in general — which I guess is fine, goodness knows we need a word for that.

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Cowen assumes his readers already understand that cost disease exists. So I thought I would make the case for the cost disease in the sectors Tyler mentions — health care and education — plus a couple more.

There was some argument about the style of this graph, but as per Politifact the basic claim is true. Per student spending has increased about 2.

At the same time, test scores have stayed relatively stagnant. School spending has been on exactly the same trajectory before and after that time, and in white and minority areas, suggesting that there was something specific about that decade which improved minority but not white scores.

Profit maximization vs social responsible essay

I discuss this phenomenon more here and herebut the summary is: Costs really did more-or-less double without any concomitant increase in measurable quality.

Which would you prefer?

Economics (/ ɛ k ə ˈ n ɒ m ɪ k s, iː k ə-/) is the social science that studies the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Friedman's famous quote, while technically correct, ignores other factors of corporate social responsibility. These factors, known as "externalities," are the "side effects" of corporate behavior. Both shareholder and stakeholder approaches are concerned with the purpose of the firm and strategies to improve its competitive position. Stakeholder approach does not view maximization of shareholder wealth as the most efficient way to generate competitive advantage for the firm.

Sending your child to a school? Second, college is even worse: My parents sometimes talk about their college experience, and it seems to have had all the relevant features of a college experience. The graph is starting to look disappointingly familiar: The cost of health care has about quintupled since This has had the expected effects.

Life expectancy has gone way up since In terms of calculating how much lifespan gain healthcare spending has produced, we have a couple of options.

Start with by country: Some people use this to prove the superiority of centralized government health systems, although Random Critical Analysis has an alternative perspective. In any case, it seems very possible to get the same improving life expectancies as the US without octupling health care spending.

The Netherlands increased their health budget by a lot aroundsparking a bunch of studies on whether that increased life expectancy or not. In none of these studies is the issue of reverse causality addressed; sometimes it is not even mentioned. This implies that the effect of health care spending on mortality may be overestimated.

Based on our review of empirical studies, we conclude that it is likely that increased health care spending has contributed to the recent increase in life expectancy in the Netherlands. An important reason for the wide range in such estimates is that they all include methodological problems highlighted in this paper.

But if we irresponsibly take their median estimate and apply it to the current question, we get that increasing health spending in the US has been worth about one extra year of life expectancy.

That would suggest a slightly different number of 0. Or instead of slogging through the statistics, we can just ask the same question as before. Do you think the average poor or middle-class person would rather: The first New York City subway opened around Things become clearer when you compare them country-by-country.

This is a difference of 50x between Seoul and New York for apparently comparable services.This essay discusses the perplexities and challenges of corporate social responsibility (CSR).

The essay features the "what", "why", and "how" of CSR. The. The Evolution of State and Local Government - The Evolution of State and Local Government If you ask most people today what level of government they have the most involvement with and that impacts their lives the most, they will undoubtedly respond with, “the State and local governments”; this is .

Managers’ fixations on quarterly returns and short-term profit taking seem to be its enduring legacy. The pro-CSR crowd, by contrast, stresses the value-creating potential of good corporate deeds: gains in reputation, employee engagement, and consumer appeal, for example, as well as the possibility to open new or underserved markets, reduce .

To arrive at the edge of the world's knowledge, seek out the most complex and sophisticated minds, put them in a room together, and have them ask each other the questions they are asking themselves.

The economic, political, and social frameworks that each society has—its laws, institutions, policies, etc.—result in different distributions of benefits and burdens across members of the society.

It is neither efficient nor reliable to impose ill-defined social responsibilities that may be open to arbitrary interpretation by firm managers. It is far better to establish a framework of law that will clearly and transparently induce the firm to internalize costs.

Within that framework, firms should single-mindedly pursue profit maximization.

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