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Free Market and Market Character Essay The main difficulty in tackling this question is squaring moral means with moral ends, (Wilkinson, 2008). Moral character, or virtue, is a means to achieving moral ends. As the socioeconomic structure changes so do the means of achieving moral ends. Free markets flourishes along fast socioeconomic change, and therefore market cultures are most likely to see a mismatch between the traits of moral character valued by the culture and the traits of character actually effective as means within the existing structure for achieving moral ends. Due to the indifference of each individual, perspectives vary according to the superannuated standards of our lagging moral culture while the system simultaneously delivers moral goods more effectively than at any time in human history. So, the correct answer to the question is: Yes, market societies corrode traditional moral norms, although this corrosion is an integral part of moral progress. John gray in his view of the effect of free market on market character suggests comparison of realistic alternatives and understanding how different systems promote divergent types of human character. His definition of a free market sidelines the view that free markets emerge spontaneously when state interference in the economy is removed, or simply free markets the ‘absence of government’. Instead markets in his view depend on systems of law to decide what can be traded as a commodity and what cannot. Therefore, free markets not only contain some moral restraints which are policed by the government, but also rely on property rights mostly created and enforced by the government. The free market as in the past mid-Victorian England came about not because the state withdrew from the economy, but rather because state power was used to privatize land that had been under various forms of common ownership, or not owned at all. Historically, it is evident that economic systems are living things, and rarely do free markets operate according to the established economic models; except in economics textbooks where markets are self-regulating. On the contrary, the relation between economics and ethics can be seen more clearly in the light that traits of character most rewarded by free markets are entrepreneurial boldness, the willingness to speculate and gamble, and the ability to seize new opportunities. In order to survive and prosper in free market economies one has to embrace such skills and risk-taking actions as retooling one’s skills, relocating and switching careers. According to Adam Smith, one of the originators of free-market economics, markets cannot be confined to the marketplace because free markets demand a high degree of mobility and an ingrained readiness to exit from relationships that are no longer profitable; a direct reflection of the humanity in our lives. Adam’s fear and Gray’s perception matter the least when it has been proved that though free markets reward some moral traits, they also undermine others. The moral hazards of free markets do not mean that other economic systems are any better. Therefore, no economic system can fully attend to every aspect of moral character; instead all rely on motives that are morally questionable. A sensible combination cannot be achieved by applying an ideal model of how the economy should work. Different mixes will be best in different historical contexts. But one thing is clear: a modern market economy cannot do without a measure of moral corrosion. Tyler (2008) is of the opinion that free markets operate like amplifiers; the abundance placed in our disposal tends to boost and accentuate whatever character tendencies we already possess. He believes that other features of the free market also encourage the better angels of our nature and discourage our destructive impulses; thus allowing people to realize a range of good intentions. Market-friendly societies are attractive to immigrants. Transparency International annually issues an index of the most corrupt places in the world to do business. The countries topping last year’s list were Iraq, Myanmar, and Somalia, while the least corrupt countries were Denmark, Finland, and New Zealand, all of which have active market economies. In relation to such a report, it is obvious that the rise of markets and the decline of corruption are part of a common and consistent thread of progress. Markets purpose to create a consensus around certain moral expectations: that agreements should be binding, that honesty is expected in transactions, and that economic actors are held accountable for broken promises. However not all markets are ‘free’ because ‘corrupt’ markets do not meet the above standards, as a similarly in a variety of other human imperfections. By making more social activity of every kind possible, the market creates greater scope for these vices. As observers of economic life, many of us focus too often on these sorts of negative examples. But we need to take a wider view of human progress. In the midst of our own long era of economic growth and expansion, it is obvious that the positive features of markets decisively outweigh their negative features. This is true not only because of the practical and material benefits of wealth creation but because of its beneficial effect on personal morality as well. Irrespective of the side taken by each market analyst, a common ground runs through in the aspects of moral and social issues. In his judgment, Globalization, leads not only to the creation and spread of wealth but to ethical outcomes and to better moral character among its participants. In contrast Hymowitz believes that market economies weaken the cultural conspiracy in three powerful ways. First, they introduce novelty, which tests established cultural habits and moral verities. Second, they provoke individual desire in ways that can easily weaken the self-discipline and moral obligations that make free markets flourish. And lastly, as they advance, market economies become more likely to treat the yet-to-be-socialized child as an autonomous, adult-like actor rather than as an undeveloped dependent. On the hand, subscribes to the liberal school of thought as pioneered by Adam Smith or Milton Friedman. According to this school of thought, freedom of the individual is the highest aim, and the ultimate test of a ones character is his ability to pursue his own chosen goals in life without infringing upon the freedom of others pursuit of their own goals. From this perspective, free economic activity among individuals, corporations, and nations boosts such desirable qualities as trust, honesty, and hard work. Other panelists on the same big question, has each faithfully attested to his or her view but at one point came to the conclusion that the answer to this question depends on how one conceives the good life; prescribing that at all times we should ensure to take a wider view of human progress. ? References Jagdish, Bhagwati. Does the Free Market Corrode Moral Character? London. 2008 December 3, 2008. 3 March 2009 http://www. templeton. org/market/PDF/Cowen. pdf Tyler, Cowen. Does the Free Market Corrode Moral Character? London. 2008 December 3, 2008. 3 March 2009 http://www. templeton. org/market/PDF/ Bhagwati. pdf Will, Wilkinson. Does the Free Market Corrode Moral Character, London. 2008 October 6, 2008. 3 March 2009 http://www. willwilkinson. net/flybottle/2008/10/06/does-the-free- market-corrode-moral-character/ John, Templeton Foundation. â€Å"Supporting Science-Investing in the Big Questions: An interview with leading scientists, scholars, and public figures,† Does the Free Market Corrode Moral Character. 3 December 2008. 3 March 2009 http://www. templeton. org/market/ Lockwood, Anne Turnbaugh. Community Collaboration and Social Capital: An Interview with Gary G. Wehlage. Leaders for Tomorrows Schools. 2 May 2001. 19 July 2001 http://www. ncrel. org/cscd/pubs/lead21/2-1m. htm.

Holden Caufield vs Robert Frost :: essays papers

Holden Caufield vs Robert Frost Holden Caulfield, from J.D. Salinger’s The Catcher In The Rye, and Robert Frost, in his poem â€Å"Nothing Gold Can Stay† have very similar views on certain prospects of life. Frost shows the same perspective as Holden Caulfield. For example, both Caulfield and Frost want beautiful thing to last forever. They both protest the mutability of time. Lastly, they both want to hold on to innocence. In short, you could say that both Holden Caulfield and Robert Frost have a desire to be a â€Å"catcher in the rye†. Both Frost and Caulfield have the desire for beautiful things to last forever. Holden Caulfield recalls a time when he and Jane were younger, they would be playing checkers, and Jane would refuse to move her kings from the back row. It wasn’t any kind of a strategy, nor was it for any particular reason, besides the reason that Jane just happened to like the way they look back there. â€Å"She wouldn’t move any of her kings. What she’d do, when she’d get a king, she wouldn’t move it. She’d just leave it in the back row. She’d get them all lined up in the back row. Then she’d never use them. She just liked the way they looked when they were in the back row.† (Salinger, 31-32)Another example is when Holden is watching Phoebe go around and around on the carousel. He sees this moment as a beautiful thing that he wants to preserve. Robert Frost has the same idea when he says â€Å"Nature’s first green is gold, her hardest hue to hold†. He’s saying that this first green of nature is so beautiful, but there is no way to hold on to it no matter how much you’d like to. Both Caulfield and Frost protest the mutability of time. In Holden’s case, he enjoys going to the museum because it never changes. Everything has to stay the same. Holden likes how a single beautiful moment can be encapsulated behind glass, thus preserved forever. At the museum, a single moment is unaffected by time. Time stands still inside the walls of the museum. Year after year he can go back to the museum and he only thing that has changed is him. When Frost says that a â€Å"leaf subsides to leaf†, he’s describing how time passes and the leaves fall.

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This document can prove to be a major milestone with regards to the development of a marketing plan for the Electrolux Tumble dryers, a product of an American firm to be launched in the German market. This marketing plan intends to capture the German market with a full laid down disruptive marketing strategy. This marketing plan looks at the present market with all the existing market players in this field, and seeks to identify trends which will influence the market potential in the coming years.It looks at the position of the Electrolux brand in the German market, the strengths and weaknesses of the product under study – Tumble dryer. Moreover, these characteristics will be studied to know their influence on the customer and threats in the marketplace. The analysis of this plan identifies a number of probable target markets whose requirements very closely match by the advantages provided by the Electrolux tumble dryers. Finally the marketing plan will set penetration targets for the product and list down the main strategies that are needed to do so.This report lists down some major points that are needed to make a complete analysis of the American product for the German market. INTRODUCTION The Electrolux group was founded in the year 1910 as Elektromekaniska AB, and changed its name to Electrolux in 1919. The company was a holding company in 1928 and now is an independent company. The company has been highly successful in attracting the international customers, worldwide and has successfully gained a prominent market in the white goods industry.The concerned product – Electrolux is a mature product and reviewers acknowledge that it provides a decent amount of functionality that is needed by consumers. A PROPOSED MARKETING PLAN TEMPLATE A properly developed and executed marketing plan will outline the costs, sales, advertisements and promotional figures of the process of introducing Electrolux tumble dryers in the German market. These types of m arketing plans where disruptive marketing potential is being aimed at, it is better to help customers with less expensive and culturally adaptive products.The marketing plan starts with the thought process about the central business activities that will be involved in the marketing of the product. 1. Who are the potential customers and the targeted customers? 2. How will the company price the product after evaluating the buying potential of the buyer? 3. What are the possible channels, sales and methods that can be employed for the effective marketing of the Electrolux tumble dryers? 4. What is the time frame and plan to spend the marketing plans? A typical structure of a proposed marketing plan for the launch of the product in the German markets is represented below:A. Condition Analysis – In this part, the analysis of the targeted German market is done with references to the following issues. These issues may be related to the geographical image, present German market situa tion, competitive analysis of the different brands present in the German market, German customer or end user analysis, Electrolux tumble dryer product review and its distribution. Environment Analysis 1. German Demographic trends (age, gender, family size, family life cycle, income, occupation, education, religion, race, nationality) 2.German Economy and Financial trends 3. Technical Backdrops and Trends 4. Political Issues and Laws 5. German Communal Trends 6. Civilizing Trends within the societies 7. Material Supply Trends/Issues 8. Predictable impact of the Internet on the product marketing plan and Industry, both today and in the future Market Situation 1. German Market Situation 2. Size of total German market 3. Growth trend of total German market 4. Key elements that affect the German market scenario Competitive Situation 1. SWOT Analysis (strengths/weaknesses/opportunities/threats) 2.Listing down of key competitors and their market position with context to the German scenario 3. Evaluation of the size of the competitors and their revenue analysis 4. The German Market share of each of the key competitors 5. Sales trends of key competitors 6. Strong point of key competitors compared to the product or services. 7. Promotion strategies of key player and their likely impact on your product 8. Unique Selling Proposition of the product that can attract the customer 9. Competitors' likely response to your Advertising/Promotion program and your planned counter- measuresDistribution and Supply Situation 1. To organize an efficient distribution channel 2. significance of each distribution channel in terms of: – Percent of business sales – Development potential – Competitive status B. Goals and Objectives – The marketing plan also aims to define the goals of the company and devising the correct strategy. These include the following: 1. Financial objectives – under this, the following are to be considered: Gross sales, Cost of prod ucts, Gross margins, Net profit and ROI. 2.Marketing objectives – under this, the following are to be considered, sales revenue, total ales, and market share and distribution levels. This will also include a marketing timetable which lists all the marketing, advertising and promotional activities. CONCLUSION By choosing to invest in Germany, the investor would be able to be a pioneer in the international market that US is trying to establish. The investor would enjoy the benefits of low taxes, and easy penetration. The track record of the economic growth of Germany only shows that the company is worth investing in.There is a small risk of rental yields going down for the White goods market, this is because the country is improving on its international market and chances are, more and more people would come in the country. Comparing the risks and the benefits of investing in the German market, it is better to choose to invest than choosing not to. Reference List 1. Economist I ntelligence Unit. 2005. â€Å"Country Profile 2005: Germany †. The Economist Intelligence Unit Limited 2. Export Development United States 2006. â€Å"Exporting Globally : A Guide for White Goods Businesses †.

The Trading Dynamics of Institutional Investors - 809 Words

The fraction of corporate equity owned by institutional investors has grown considerably in the past several decades; institutional holding of shares in U.S. equities has increased from approximately 16% in 1965 to over 50% in 2010 (Federal Reserve Board, 2011). The fact that institutional investors are managing such a sizable wealth invested in U.S. equity market has potential important role in term of setting market prices. The growing impact of institutional investors on capital markets has induced to increased research on the behavior of this group of investors both by academics and policy makers, who tend to believe that institutional investor follow momentum based strategies, and often are alleged to herdinglike behavior and following destabilizing trading strategies. Recent studies investigating the behavior of institutional investors document three main results. First, institutional investors are momentum traders (buying past winners and selling past losers) and are more likely to follow past prices (\citet*{grinblatt1995momentum}). Second, Institutional investors sometimes trade in the same direction over a period of time or engage in herding behavior (\citet{wermers1999mutual}). Finally, the contemporaneous association between changes in quarterly institutional holding and quarterly stock returns is much stronger than the feedback trading effect (\citet{nofsinger1999herding,wermers1999mutual}). The previous studies on the behavior of institutional investorsShow MoreRelatedImpact Of Globalization On Non Institutional Investors1406 Words   |  6 PagesImpact on Non HFT institutional investors There is a severe variation of capital at risk of high frequency trading when compared to capita at risk for institutional investors as noted by KFY. 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