Free Market Economy Essay - 461 Words

A free market is a type of market that the government is not involved in. Since the government does not care about what happens, the free market is also called â€Å"hands-off† or â€Å"let it be economics†. The government is limited to protect the citizens from the danger and that is the major goal for the government. In the free market economy, there are three components of the free market economy: competition, active but limited government, and the self-interest. Competition is one of the main components of the free market economy. Competition means that the companies compete with one another to make more benefits to themselves. According to the concept of the free market economy, the competition means a good thing because it is a basic†¦show more content†¦The government does not necessarily need to intervene how the marker goes. Therefore, the competition is a significant factor of the free marker economy.Active but limited government is another main part of the free market economy. This means that the government undertakes a significant, active role in the market, but at the same time the government’s role is ver limited because all the investments and decisions in the economy are controlled by the market than by the government. An invisible hand will control the market. Limited government is a type of government in which there is a minimum intervention in personal properties. Overall, the government tries to keep the economy in a law and let it free by limiting itself. Hence, the limited government is an essential factor of the free market economy.Last, self-interest is a significant part of the free market economy. Self-interest refers to one’s desire to buy something. The market will be generally controlled by people’s interest; the companies will compete with one another to fit the best taste. This is because the people’s interest will be the main trend in the market and it will control what should be made in the market. Consequently, the market will be self-regulated according to the theory of a free market. Therefore, the self-interest is another significant factor of the free market economy.Therefore, the competition, theShow MoreRelatedFree Market Economy837 Words   |  3 PagesThe United States is known to operate in a free market economy. In other words, the economy is based solely on supply and demand with little to no government control. In reality, however, the United States has various government regulations on our country’s market. The amount of regulation that is necessary is a continuing debate among politicians and economists to this day. Some would say that the key to a successful market economy is to remove government restrictions in order to force businessesRead MoreFree Market Economies2080 Words   |  8 Pagescentury. 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Major League Baseball Players And Coaches Essay - 917 Words

This incident backs up Sandoval s comments regarding netting around the dugouts because foul balls sometimes hit players and coaches as well. In response to Mr. Coolbaugh s death, Major League Baseball quickly enacted a rule that base coaches have to wear helmets to protect them. Although this rule may ensure safety for coaches, fans remain unprotected from the threat of broken bats and foul balls. Major League Baseball players also wanted extended netting at the last two collective bargaining agreements but the idea was rejected by the owners. (SI Wire, 2015) Diamondbacks pitcher Brad Ziegler had an interesting take on the situation, â€Å"Some owners are afraid to upset the fans who pay the high ticket prices for these seats but when in reality, this being done would protect these fans from being fearful of their life.† (SI Wire, 2015) The players couldn’t be more right about the situation, especially Ziegler. The owners of professional teams seem way too concerned ab out money, rather than the protection of their fans. Patrons are seated too close to the field and stadiums are putting them at risk by refusing to install netting around the first and third base lines. According to Bloomberg News, there are an estimated 1,750 spectators that are injured at major league games and there are an estimated 53,000 foul balls that enter the seats every year. (Bumbaca, 2015) This should be a huge red flag for Major League Baseball because every time a foul ball enters the stands, thereShow MoreRelated Sports Agents Essay1738 Words   |  7 Pagesan athlete’s life. Agents can be considered professional mangers who find the best place for their client’s talent. Sports Agents have not been around for a long time. â€Å"Until the 1970’s, very few players had agents because teams would not deal with agents (Masteralexis, 244).† Many times players found that having an agent was a disadvantage to them. 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Research Proposal Information and Communication

Question: Discuss about the Research ProposalforInformation and Communication. Answer: Introduction World has advanced by leaps and bounds by the last decade and we are now in an age where information drives the requirements of society, economy, work, space, culture, etc. With this notion there is a philosophy among the research scholars that with the advancement of information technology we are in the middle of an information society. One concern regarding this development is how to make it more inclusive. However, the greatest hurdle with this advancement is the ways or procedures which would make this an inclusive phenomenon. A world summit was held wherein delegates from several societies had been invited to participate in the mutual exchange of ideas and representatives of government and civil society organizations from 175 countries had participated wherein this resolution was passed: " common desire and commitment to build a people-centred, inclusive and development-oriented Information Society, where everyone can create, access, utilize, and share information and knowledge, enabling individuals, communities and peoples to achieve their full potential in promoting their sustainable development and improving their quality of life" . This has made it imperative for the government that they take active part in the global information technology advancement process for the upliftment of their country and the world as a whole. But before the government takes any step towards implementing policies which would initiate the growth and development of information technology, there is a strong need to identify and evaluate the underlying development theories which would pave the path for the growth of the society which is sustainable (Weigel 2006). This research makes an attempt to understand the diverse development paradigms that are prevalent in the existing literature in line with the concept of information and communication technology as a means to development. Then there is elaborate discussion on the growth of inequitable access to information and communication technology which is popularly addressed as digital divide. This research also makes an attempt to bring together the policies and frameworks which has made an attempt towards bridging this gap so that people have a better access to technology and technology related products. The last section of the research talks about the capability index and how it has emerged as the superior method in measuring the advancement as well as the impact of ICT in achieving the developmental goals of the society (Voogt Netherlands 2010). State of The Art/Literature Review: The concept of information society which has become extremely popular over the last few decades underpins the fact that it has to pass thorough several phases of evolution to establish itself in the society. It has been closely intertwined with the goals of modernization and globalization which has driven the development of society as a whole. Information has emerged as the cornerstone of evolution in countries all over the world and there has been integration among the participants all over the world through information technology (Sutthichaimethee 2016). Information technology is viewed as a tool to develop a nation and participate in the development process. As such with the advent of globalization there has been increased application of information and communication technology which makes it all the more imperative (Strauss 2003). But over the years researchers have seriously questioned the efficacy of such growth measure since it has been seen invariably that growth in one measure leads to underdevelopment in the other. It is generally seen that when one country excels in economic progress the other tends to lag behind. This disparity is widespread and although measures have been taken to bridge the gap it has not been much successful (Schware Choudhury 2008). The reason for this disparity lies more with capitalism than with the use and applicability of information and communication technology. But these has motivate the developing world to question the traditional concepts of development which the western world has relied upon and how it can be customized to meet their needs and requirements. The same is true with information and communication technology as it is seen as the medium and channel of growth in the western countries but the same has not been true for the emerging markets although there has been instances of change. ICTs are mostly value-driven, contextual and moulded by the local features rather than a standardized process. All these factors have led to the unequal growth of ICT all over the world (Rodrigues, Marks Steel 2003). Similar debates have also been raised regarding the efficacy of ICT as the medium of development. Few scholar are of the opinion it has percolated the divide more than it has contributed to the social upliftment of the downtrodden (Rovegno 2002). However, there is also a significant majority to whom ICT is viewed as a measuring tool for the sustainable development of individuals, communities and nations, hence, a necessity. ICT have the potential to play the role of game changer in several of the crucial public administration mechanisms like business, education, health, and environment, among others (Qureshi 2011). It has been argued in several researches that ICT act as the elixir which paves the path for growth and development in economically weaker sections of the society. This has motivated the considerably low income countries to move for digital transformation which will in tune take care of the developmental problems. However this is an assumption which is best described only in theoretical models but its practical applicability is widely debated. The concept that access to information technology leads to increase in production, participate in labour markets, and contribute in reciprocal exchanges with other people has not been proved successful universally. People have also tried to establish their argument in favour of ICT through empirical evidence which states the growing proportion of ICTs in the world economic output. The most optimistic viewpoint is that the growth of ICT would empower the emerging markets to leapfrog the stages of development and be on the same footing with the d eveloped nations (Qureshi 2010). This would be driven by the outsourcing of information and communication technology activities from the businesses in the developed nation and their implementation by the experts in the developing countries. In short this would lead to the rise of the service industry and bring about the radical change in the economy of the emerging markets. A result to substantiate these claims can be seen from the study which was conducted to prove that the correlation between growth and prosperity to the use of smartphones is more profound in the developing countries than in the developed nations (Parker 2008). There are also several opposing views regarding the efficacy of ICT since many scholars are of the opinion that this will only result in further inequalities with respect to opportunities that are available (Paraskeva et al. 2007). It is generally observed that the geographies that are well connected and have been governed by a good administration with several economic and social advantages have been best posed to reap the benefits of ICTs. On the other hand, countries which have unstable government with limited access to infrastructure and social or cultural stigmas prevalent in their society have not been able to leverage the growth and development through ICTs. The concept of integrating poor nations with internet or ICTs have proved to be an abstract concept. A perfect example would an emerging country like India where ICT have helped in the development of the information technology industry but have failed in the social upliftment or providing amenities to the poor. The inequali ty and digital divide between the rich and poor have evolved and expanded over the years in a country like India. The same can be told about another developing nations. In those nations ICT development are not so crucial than investing in other pressing requirements (Mohammad Kamal 2016). Then there is the middle-ground opinion which talks about the development agenda through ICTs only if they are applied properly. Few scholars have investigated and come out with the opinion that increase in telecommunication and installation of telephone have resulted in the development of the rural people (Martens 2015). This calls for further research in this domain to ascertain the hypothesis that whether ICT installation and expansion can facilitate the social and economic growth of a country particularly the poor. Existing research does not specifically talk about the targeted benefits of ICTs in developing countries. They are more focused on the generic benefits that a country reaps through the implementation of IT and engineering solutions. However, it has been observed empirically that most of these benefits are leveraged by the wealthy and well to do people of a country (Kostakos Ferreira 2015). As we have discussed about several issue there is also considerable discussion regarding the issue of digital divide which has led to the inequitable distribution of economic benefits through information technology. For further discussion one needs to understand the definition of digital divide which is concerned with "situations in which there is a marked gap in access to or use of ICT devices" (Khwaja 2016). There is also ensuing debate in this respect as a group of scholar believe that the need for a discussion on digital divide is irrelevant since all the people who are in need of digital services especially in the developing countries have already access to such services or they must not be needing them and for that reason do not have them. However there has been several instances where it has been proved that if the reach of the digital services can be extended to those people then it leads to significant improvement in their lifestyle. There have been very stark examples withi n the same country where ICTs have been able to transform the lives of a certain part of the country while the remaining sections still live in oblivion (Faler 2010). It is expected that in the near future these differences will be eradicated through improved delivery of ICT infrastructure and social inclusion drive which aims to bring more people under the realm of the information society. There has been significant rise in the development of computing power, reduction in the cost of transportation of data through optical fibre networks, and significant convergence of information and communication technologies. At the end it can be said that this research deals more with the issue of bridging the gap rather than the requirement for debating that whether there is digital divide or not (Dror 2004). Research Questions, Aims and Objectives: The aim of the research is to understand the impact of ICTs on the growth and development of the social and economic sectors in the country. Their impact in transforming the lives of the downtrodden by providing them with increased scope for job opportunities and other facilities. The specific research objective questions include: What are the specific impacts of ICTs in the lower strata of the society especially in the developing countries? What are different methods of measurement to determine the above impact? To investigate the numerous methods that can be employed for bridging the gap between the ICT implementation of developed and developing countries? Theoretical Content/Research Methodology: The theoretical basis on which the research will be designed is the impact of digital transformation on the developing nations with special reference to the low income people in the society. The hypothesis for the analysis would be as follows: Advancement in ICT and digital transformation does not lead to any significant development of the low income people at the bottom of the pyramid particularly in developing nations. The methodology that will be used for the investigation of the aforementioned research topic is both qualitative and quantitative which is popularly called as the mixed methodology. The qualitative aspect will be looking at the social and economic factors of a country which have led to the failure of bridging the gap in development through the implementation of ICTs. The governance in the country and their political stability will be critically analysed to understand the effects and expansion of ICTs. As this requires data of diverse country sets it will be mostly conducted through secondary research and publicly available data for the analysis purpose (Dagiene Grabauskiene 2011). The quantitative model will be based on the capability index approach formulated by Amartya Sen for which he was awarded wide accolades. This index is mainly concerned with calculating the human development index which can be derived by incorporating several factors. This index can be modified as per the needs of the research and then applied to dig out the factors which is leading to the digital divide or disparity among the people in the country. This mixed methodology is expected to be successful in evaluating the research objectives as stated in the previous section (Burnett et al. 2006). Experimental Set Up: Sometimes in a quest to acquire record and data points, we might have to evaluate records which are confidential in nature or should not be disclosed in public. As we would try to maintain the privacy and accuracy of such data people might be sceptical about the use of such information. But in order achieve success in the research it has to be designed in such a manner so that it can be employed and utilised in the best possible manner to get the outcomes which are not skewed or biased (Browne Gavin 2010). Results and Outcome: At the end of the research proposal discussion it can be said that this article has thoroughly discussed all the aspects of the present literature that is available and also highlighted the issues that are pressing in this domain. With this research it is expected to understand the various reasons behind digital divide and the factors which have led to underdevelopment of few nations although there has been widespread implementation of ICT. The methodology of the research design id appropriate for the analysis that has been decided and would fetch the best possible results. Finally it is justified to mention that this research makes an attempt to critically analysed and investigate the reasons for the failed implementation of ICTs in the developing countries with special reference to the downtrodden people (Angeli Valanides 2005). Project Planning And Gantt Chart: Dates are indicative and can be replaced by actual project dates. References Angeli, C. Valanides, N. 2005, 'Preservice elementary teachers as information and communication technology designers: An instructional systems design model based on an expanded view of pedagogical content knowledge', Journal of Computer Assisted Learning, vol. 21, no. 4, pp. 292302. Browne, P. Gavin, T. 2010, 'Support for information technology development', Information Development, vol. 6, no. 1, pp. 2027. Burnett, C., Dickinson, P., Myers, J. 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