Quality of Life for the Patient and Family Essay

Quality of life has a different meaning for everyone. Many personal thoughts and feelings can come into play when caring for others during the end stages of life. However as a nurse and caregiver, these opinions must be put aside at this significant time. For some health care providers, we may feel that keeping the patient comfortable and having them surrounded by family is most important. However, for the patient, personal culture, lifestyle and value for one self as well as a sense of independence in handling this time alone is most imperative. Therefor a nurse must consider the individual’s past experiences, present lifestyle and personal hopes in which they choose to live in relation to their goals, expectations, standards and concerns at this stage. One must meet not only the physical needs of the patient but the psychosocial demands in this sensitive time of need. Seeking aggressive medical treatment vs. palliative care is something that is very personal and differs from individual to individual. Nurses’ opinions and suggestions of the â€Å"best care† should not be voiced to the patient or family, even if asked directly. For Mrs. Thomas, time also plays an important role. She is young and may have many other worries than those of an older age experience in preparing for end of life. A nurse must consider what areas of life are important to her and what is the relative importance of each of these areas. Personal perception that counting on family support is huge, but may not be possible in Mrs. Thomas’ situation as her children live out of town. STRATEGIES TO IMPROVE QUALITY OF LIFE The nurse should look at several strategies that directly impact the patient as well as the family. Quality of life not only looks at the health status the patient but those directly involved in the care of the patient. This encompasses a broader set of planning including finances, housing, and employment. This will have a direct impact on the entire family. Three important strategies that are helpful to relieve overall stress and promote optimal coping skills include: 1) patient awareness of disease process, 2) available support from healthcare providers and 3) addressing physical as well as the psychosocial needs of the patient. Healthcare professionals must be prepared and speak directly with the patient and family when it is determined best to the physician’s ability, that the identified disease of breast cancer will cause death. Advance planning and preparation may be helpful in dying well if Mrs. Thomas is more aware about her status of disease. Physicians and nurses must change the plan of aggressive medical treatments of curing the disease of breast cancer and concentrate providing support and a comfortable well being of the deteriorating disease process. This in turn should provide a plan of care for relief of pain, contentment to the patient and focus on the overall whole being of quality of life. The homecare team can include doctors, nurses, home health aides, social workers, and clergy as well as trained volunteers. Most team members provide on-call 24 hours a day, 7 days a week to deliver support. The patient and family should feel the comfort in calling these resources at anytime. The nurse must remind Mrs. Thomas and her husband that they are not â€Å"bothering† any team member by asking for assistance. The team must always work together and communicate the patient’s goals for end-of-life care. It is important for all to realize this is very individualized for each patient and family member. Each individual strategy should include caring for the whole person physically, emotionally, socially and spiritually. It important for the team to develop strengths based perspectives of psychosocial interventions and listen to what the patient and family have to say to enable them to cope better. In doing so, the team must also communicate on each encounter with Mrs. Thomas and family as well as each other to assure that her and the husband’s needs are being met. HOLISTIC CARE A holistic nursing care plan in valuable in delivering care to the entire person in supporting the physical, mental, spiritual, emotional, social and environmental needs. With this approach, nursing care needs to move away from viewing Mrs. Thomas as merely a ‘diagnosis’ and treating her as a whole person. Nursing goals should be to develop immediate trust with the patient and family, provide comfort, supportive care, and symptom management. This can be achieved by effective communication and providing a calm, relaxed setting for Mrs. Thomas. Allowing her to speak openly and honestly about her feelings and emotions of grief, physical complaints such as pain, nausea, and difficulty sleeping is a good way to start to develop a trusting nurse/patient relationship. As a nurse, one must be supportive and be willing to listen openly. Once Mrs. Thomas begins to express these types of things, the nurse must review and evaluate every visit to improve specific concerns with her. More importantly, healthcare providers must display an openness to hear new concerns and prioritize the needs of the patient and family. FUNCTIONAL ABILITY Assessments to maintain the self functional ability for Mrs. Thomas should include creating a plan to achieve realistic goals and allow self care as long as possible. This in turn can give control back to Mrs. Thomas, help raise confidence and value her quality of life. Mrs. Thomas’ physical, social and environmental conditions should also be considered to help her care for herself. Discussing the 24/7 availability of visits from registered nurses and social workers, involving family and friends or volunteers that can help with running errands and meal preparation for adequate dietary intake, and discussing appropriate medical equipment to assist with ADLs such as performing personal hygiene can prove to be helpful. PROVIDING ADDITIONAL CARE When self-care is no longer possible, the importance of more frequent nurse and/or social worker visits, and interaction of clergy is valuable. In addition, further involvement of additional family, friends, home health aides or volunteers to assist not only with running errands, meal preparation and assistance with ADLs but being present in the home for longer periods to care directly for Mrs. Thomas becomes more imperative. The nurse can assist in making sure appropriate DME equipment is in the home. In addition, this turns out to be a time when additional emotional support is of great concern for Mr. Thomas. CHRONIC DEPRESSION Mr. Thomas already suffers from chronic depression and now has to endure immense and continuous stress to care for his wife with advanced breast cancer. Over time this takes a toll his health, ability to work, finances, and their own personal and family needs. Involvement of not only the nurse, but also social worker and bereavement counselor can help Mr. Thomas tremendously. Encouraging him to take his medications will help both him and his wife. Also, reassurance that it is okay to want quiet time and allowing others to help to care for his wife should be verbalized to him in a caring manner. Taking some of the financial worries away from Mr. Thomas may help as well. The social worker can discuss resources that are of no cost from community volunteer organizations and review the reimbursement of covered services from the insurance organization at the beginning and in ongoing care of his wife. Sharing the right information with the patient’s family is very important and can assist in better coping. Again, the home care team must offer an environment that provides the openness to hear all concerns and overall needs of not only the patient but also her family.

A Comparative Look at the Japanese Healthcare System

A Comparative Look at the Japanese Healthcare Systems The Japanese health care system is one of the most efficient in the world. In fact, it is so efficient that the people of Japan have the highest life expectancy rate of any other country in the world (The Economist, 2011). Life expectancy at birth was 83 years in 2009 ; 79. 6 for males and 86. 4 years for females (Wikipedia, 2012). The Japanese government has been able to accomplish this through strict regulations and policies.Although this system has worked for the people of Japan since its institution in 1961, heir healthcare system is now facing financial ruins if changes are not implemented in the near future. It is my intent to explore why the Japanese health system has been able to function in a cost effective way and how it affects health outcomes. Japan has a universal health system called kaihoken (The Economist, 2011). Citizens are required to get insurance. Most people get it through their employers and are responsible for paying10%, 20%, or 30% of their healthcare costs depending on their family size and income.The government covers the difference (Wikipedia, 2012). If a itizen cannot get coverage through an employer then they have the option of participating in a national health insurance program that is managed by the local government (Wikipedia, 2012). Japanese citizens are free to go to any physician or healthcare facility that they want and cannot be denied treatment (Wikipedia, 2012). Because of this freedom, Japanese citizens visit the doctor four times more than the average American does in a year (Wikipedia, 2012). Japan has strict regulations on the healthcare system that allows them to keep their costs down.Japan has about the owest per capita health care costs among the advanced nations of the world, at around $2,873 (Arnquist, 2009). They are able to do this for many reasons. The first being they set a fixed price for services and medications with physicians every two years. This way there is no question about what their compensation will be (Harden, 2009). Also, administrative costs are four times lower than they are in the United States, partly because insurance companies cannot set rates for treatment or deny claims. It is against the law for them to make profits or advertise to attract low-risk, igh-profit clients (Harden, 2009).The downside to all of this is physicians in Japan are overworked and underpaid, making an average of about $125,000 by the time they are midway into their careers (The Economist, 2011). There is evidence that physicians and hospitals compensate for minimal reimbursement rates by providing more services. This is acceptable because the fee-for-service system does not limit the supply ot care comprehensively. Japan's physicians oversee almost three times as many consultations a year as their colleagues in other developed countries do. There s also a shortage of physicians within Japan, especially those who practice specialty medicine. In Japan, physicians who practice primary care makes more money than their colleagues who practice highly specialized care (Arnquist, 2009). This is the complete opposite from American doctors. Some other issues that the Japanese healthcare system faces are an aging population and an overutilization of services. As stated earlier, Japan has the highest life expectancy rate in the world. This also means that the government will have to take care of more of their citizens' medical eeds for an extended period of time. It is estimated that by 2050 two-fifths of the population will be over the age of 65 (The Economist, 2011).With an aging population and low birth rates, this puts a substantial strain on government spending. Another problem that Japan faces is an overutilization of services. By this I mean citizens are much more likely to go see a physician for minor illnesses because there are no restrictions on which they can see at any time, without proof of medical necessity and with full insurance coverage (Henke et. al. , 2009). Since everyone has access to edical care, long wait times in physician offices and overcrowding in emergency rooms are commonplace.A report has shown that more than 14,000 emergency patients were rejected at least three times by hospitals in Japan before getting treatment (Wikipedia, 2012). The average length of a hospital stay is two to three times as long in Japan as in other developed countries (Henke et. al. , 2009). In contrast, the U. S. has a lower life expectancy than Japan at 78. 7 years (CDC, 2010). This is in large part to our high obesity rates and unhealthy lifestyles. The older population, those persons aged 65 years and older, makes up about 12. % of the U. S. population (AOA, 2013).Both Japan and the U. S. have seen declines in their birthrates. But unlike Japan, Americans are less likely to seek medical care for minor ailments such as the Japanese. This is due to the fact that a large number of Americans have little to none insurance coverage. Those that do have coverage often have copays. Another vast difference between the two healthcare systems is the insurance regulations that many Americans encounter. It is not an uncommon practice for insurance companies to deny patients claims and not cover certain medical treatment.The patients are then forced to appeal the claim, pay out of pocket, or simply do without the treatment that they needed. One would think that because the Japanese have so much access to health services that their health outcomes would be above average. This is not always the case. The physician shortage means long wait times and shorter consultations. Those that have complicated medical cases often do not get the proper amount of medical attention (The Economist, 2011). The Japanese are only a quarter as likely as Americans to suffer a heart attack, but twice as likely to die if they do (The Economist, 2011).An oversaturation of hospitals also affects health outcomes. Research has shown that health outcomes are better when the centers and physicians responsible for procedures perform large quantities of them. Because Japan has so many hospitals, very few are able to achieve this (Henke et. al. , 2009). The small scale of most Japanese hospitals also means that they are inadequately equipped with intensive- care and other specialized units. Very few Japanese hospitals have oncology units. Theretore, a number ot ditterent departments in each hospi tal deliver care tor cancer Henke et. l. , 2009). In the U. S. physicians and nurse are required are certain number of Continuing Education hours every few years in order to renew their license. This helps them stay current with medical practices and sharpens their skills. In Japan, once a doctor or nurse is licensed, they are no longer required to further their education. There is no central agency oversees the quality of these physicians' training nor are there criteria for board certification in specialties (H enke et. al. , 2009). Despite some flaws, the Japanese healthcare system is able to do many hings well.For one, the Japanese system is quite proficient in chronic care, particularly due to the fact that it has so many older people. Along with appropriate medical care, Japan also provides long-term care to all older people who need it through a public insurance system that started in 2000 (Henke et. al. , 2009). In Japan, a person's income does not influence the quantity and quality of medical care that they receive. Premiums and out-of-pocket costs are minor concerns for most people, and those whom have a low-income and the elderly receive subsidies to afford care Arnquist, 2009).

Financial Analysis on Coles Myer & Woolworths Essay

Introduction Coles Myer Limited (CML) and Woolworths Limited (WOW) are two major Australian companies with extensive retail interest and listed on the Australian Stock Exchange. They are Australian public companies which operate a number of retail chains. CML is Australia’s second largest retailer, behind WOW. It operates a number of chains of retail outlets which are including Coles Supermarkets, Bi-Lo, Liquorland, Pick ‘n Pay Hypermarket, Kmart, Officeworks, Target, Harris Technology and Coles Express (Wikipedia, 2006) . WOW is currently the largest retail company in Australia and New Zealand by market capitalisation and sales. WOW operates in Australia through several retail banners such as Woolworths and Safeway Supermarkets, BWS, Dan Murphy’s, BIG W, Dick Smith Power House and Dick Smith Electronics (Wikipedia, 2006) . The purpose of this report is to analyse financial performances of the two publicly listed companies in last 5 years by using series of calculation tools include horizontal analysis and financial ratios. Also as a recommendation, we will advise investors to buy or not buy the two companies’ shares according to the results of the performance analysis. Financial Condition (See Appendix 1 & 2 for ratio details) 1. Overview The WOW’s revenue has increased every year, one year as great as 149.90 % in 2005 (see appendix 11 for details). In 2001, revenues were 20915.1 million while in 2005 revenue has increased to 31352.5 million. Since revenue increased, the net profit obviously has increased as well. Net profit rose 84.70% from 2001 to 2005. The Horizontal Analysis (Appendix 11 &; 14) indicates WOW is a very successful company and earning money. CML’s revenue has increased 52% and the net profit rose 314% from 2001 to 2005, the growth was tremendous because it occurred in typical connection with the restructuring of the method of financing a foreign operation (Financial Report, 2005). 2. Liquidity Current ratio This ratio represents the financial liquidity of the company. ‘The current  ratio compares the assets a company can quickly convert to cash to the liabilities it must pay in the near term’ (Vance, D. E. 2003). The higher the ratio, the more liquid the company is. For CML, there was a slight increase of 0.04 from 2001 to 2002. Then it followed by an obvious fall from 1.37 to 1.09 during period from 2002 to 2005. This represents that one-unit current liabilities is secured by 1.37 units of current assets in 2002 and 1.09 units, nearly one current asset for one current liability, in 2005. From the perspective of WOW, the ratio starts from 0.81 up to 0.84 then declined to 0.81 and finally dropped to 0.82 during this period of time. The current ratios are all less than one, indicating that one current asset will prepare for the payment of more than one unit current liability. That leads to high liquidity risk in the business operation. If there is an emergency to WOW, it wi ll encounter the problem of repayment. Quick ratio Quick ratio is similar with current ratio, but more conservative than current ratio, because in numerator, inventory is excluded from current assets, and in dominator, bank overdraft is excluded from current liabilities. ‘The quick ratio addresses the issue of whether current assets could cover current liabilities if inventory were found to be worthless’ (Vance, D. E. 2003). WOW experienced a slight increase from 0.2 to 0.26 in this period of time. In contrast, CML experienced a modest fluctuation and end up with 0.28 in 2005, the lowest one in 5-year time and the highest one is 0.41 in 2003. Generally, the quick ratios of CML exceed the ones of WOW. Cash flow ratio Cash flow ratio will analyse the ability of repayment on current liabilities from the perspective of the operating cash flows. Vance, D. E. (2003) states that it is another way to think about the risk of leading to, or investing in a company. These two companies both experienced a drop on this ratio from 2004 to 2005, 0.35 for WOW and 0.3 for CML in 2005. 3. Financial leverage Equity ratio & debt ratio Equity ratio and debt ratio are both designing for capital structure and they are negatively related with each other. The cost of equity is higher than the cost of debt, but shareholders will not require companies to repay them dividends and principals any time. However, companies must pay the debt holders interests and principals each year. And increasing leverage ratio will result in increasing the return to shareholders, yet at the same time, it will increase the repayment commitments and then raise the risk to company and shareholders. CML’s equity ratio increased to 0.4 and correspondingly debt ratio decreased to 0.15 from 2001 to 2005. Generally it is a good trend, even though there has been a decrease in equity ratio in 2005 from 0.45 to 0.40 and an increase in debt ratio from 2004 to 2005, it may be due to the acquisition from US group KKR. However, in 2005, equity is almost three times debt, which means the capital structure is still in good condition. On the other hand, WOW experienced a different trend that its equity ratio has decreased from 0.30 to 0.25, and debt ratio has significantly increased from 0.13 to 0.32 between 2001 and 2005. WOW raised funds heavily on interest-bearing liabilities and consequently takes higher risk than CML due to higher leverage ratio. Times interest earned & fixed charges coverage ‘Times interest earned ratio examines the ability of the business to meet its regular financial commitments’ (Harvey, McLaney and Atrill 2001). Fixed charges coverage ratio is very similar to Times interest earned ratio. These two ratios assess the profitability of company and the ability of interests and principal repayment. CML experienced a significant increase on these two ratios from 3.48 to 12.04 and from 6.81 to 16.64, even though there was a slight drop between 2004 and 2005. However, WOW experienced an obvious fall to 11.82 and 12.25 on times interest earned and fixed charges coverage  respectively. In 2005, compared with WOW, CML showed a better financial performance on the ability to repay the interests and principal. Average payment period CML experienced a decreasing trend on average payment period from 45.29 to 38.69. In contrast, WOW experienced an increase from 19.41 in 2001 to 37.78 in 2003, and a decrease to 34.77 in 2005. Compared with WOW, CML has a longer payment period. It means CML can hold its money more time and do some investments. 4. Assets management Sales turnover This ratio indicates assets management efficiency that one unit asset can generate how much sales. From the perspective of CML, the sales turnover gradually increased from 2.9 in 2001 to 3.94 in 2005. On the other hand, WOW maintained stable on about 4.5 sales turnovers. We can see that WOW managed its assets more efficiently than CML did. Average inventory turnover period This ratio assesses the efficiency of inventory management whether company reduce the inventories as fewer as possible. The fewer inventories, the more free cash flow company has to invest on other assets. Both WOW and CML experienced a decrease on inventory turnover period from 39.64 to 29.64 and from 59.45 to 41.38 respectively. It indicates that CML managed its inventories less efficiently than WOW did. 5. Profitability Return on sales WOW return on sales remained constant, 4% of sales. For CML, it maintained  stable, nearly 2% of sales. Obviously, WOW has a higher operating profit margin, and then a better profitability performance maybe due to the more efficient costs control. Return on assets ‘It is used to measure whether assets are being productively employed’ (Vance, D. E. 2003). This ratio indicates how much profit one unit asset can generate and how profitable company is as a whole. WOW and CML are both in the increasing trend, 0.17 and 0.1 respectively in 2005. In term of this ratio, it showed that WOW is more profitable than CML Return on equity & earning per share These two ratios reflect the return to the shareholders and the value increase for the shareholders. WOW and CML both experienced an increase on the return to the shareholders, yet the WOW’s increase of the return is more stable than CML’s. In 2005, in term of return on equity, WOW stayed with 37% of the equity, yet CML just 16%. Conclusion The two companies have been doing quite well in recent years as can be seen from the increasing profitability. The table in Appendix 15 indicates a comparison of the two companies according to the above discussion. CML has a better performance on liquidity and financial leverage but WOW managed Assets and Profitability better than CML. Recommendations On 8th September 2006, WOW’s closing share price is $20.80 and CML is $13.70. Based on the financial analysis above, we can conclude that WOW has maintained a constant financial performance in last 5 years, but their growth is not rapid. However, Simpson (2006) states that ‘At present Coles Myer is earning a 13 per cent return on capital invested in stores, compared  with 24 percent by Woolworths.’ Therefore, I recommend potential investors buy shares from WOW for a short-term. According to CML news released in March and June, CML had acquired Sydney drug stores Pty Ltd (CML News Release, 2006) and Hedley Hotel Group (CML News Release, 2006). CML will expand the pharmacy business further more and have a different strategy than WOW if the regulations change in the future becomes true. CML also will expand their liquor business to compete WOW as well. Thus, I believe that the potential financial growth of CML will be a lot higher than what it is right now and I su ggest investors put their money on CML for a long-term investment. References 1.Wikipedia 2006, Coles Myer Ltd, Wikipedia Free Source Organization, viewed 10 September 2006 2.Wikipedia 2006, Woolworths Ltd, Wikipedia Free Source Organization, viewed 10 September 2006 3.Financial Report, 2005, Coles Myer Ltd., pp 19 4.Vance, D.E. 2003, Financial Analysis and Decision Making, McGraw-Hill, United States of America 5.Harvey, D, McLaney, E and Atrill P 2001, Accounting for business, Butterworth-Heinemann, Oxford 6.Simpson, K. 2006, Market waits for higher Coles bit, The Age, 8 September 2006, front page of Business Section 7.News Release 2006, ‘Coles Myer Acquires Pharmacy Direct’, Coles Myer Ltd., 31 March 2006 8.News Release 2006, ‘Hedley Hotel Acquisition Complete’, Coles Myer Ltd., 14 June 2006

Life of Muhammad & The History of Islam Essay Example | Topics and Well Written Essays - 500 words

Life of Muhammad & The History of Islam - Essay Example In his teenage years, he married a widow but did not embrace polygamy. In those days, polygamy was a common occurrence. He developed a habit of visiting a certain cave in which one could only witness the sky and the mountains around. In later years when Muhammad turned forty, he received his first revelation from Allah. This happened in 610 CE and continued for the next twenty-two years. He began preaching the new faith to close people after two years of revelation. Later he started spreading the word to people publicly. However, he received opposition from most idol worshippers in the region. Despite the opposition, he still had many followers who listened and sought advice. The disbelievers, from the tribe of Quraysh, started an operation to stop the spread of Islam. The believers were constantly persecuted. Muhammad saw the suffering of the believers and could sometimes advice them to escape to safer regions. There was a plot to assassinate Muhammad quietly by the tribe of Quraysh but did not succeed. Many believe that a divine intervention saved Muhammad. He later fell ill and died (Allen & Toorawa 4-10). The word Islam in Arabic language means submission. The followers of the religion are referred to as Muslims. The Muslims population is about a billion worldwide (Allen & Toorawa 4). As others believe that Islam began in Mecca, where Prophet Muhammad was born, others believe that it has been in existence since the time of Adam, Abraham and Jesus. The religion is known to start spreading after the death of the last prophet Muhammad. The division after the death of Muhammad led to the formation of two groups. These groups were Shia and Sunni. The Shia believe that Muhammad named a successor, and they follow the authoritative teachings from them. On the other hand, the Sunni rely on the teachings from the hadith. These two groups became the main ones in Islam. They both believe in Quran, and the distinction is only in leadership beliefs. By the end of

Rhetorical Devices Essay Example | Topics and Well Written Essays - 500 words

Rhetorical Devices - Essay Example Soliloquy is used as the best way to give insight into the character of the narrator because he or she would not lie to himself when he talks to himself. In Act I, scene 3 lines 149-197, Othello basically portrayed himself as a great heroic figure beginning from his childhood to his later exploits evident with this line â€Å"the story of my life  From year to year--the battles, sieges, fortunes  That I have passed. I ran it through, even from my boyish daysâ€Å". This narration of Othello’s heroic exploits was necessary to convince the Venetians that he is not a threat to them, particularly the Duke who was about to send him against the Ottoman soldiers. Othello needs to convince the Venetians as well as the Duke because he is considered as an outsider in Venetian society as he looked different from them and to some extent, he was perceived as a sort of witch doctor. So he has to convince them that he will act in their best interest even if he is an outsider. Othello a lso needs to convince the Duke that he did not bewitched Desdemona (daughter of the Duke) and that the only thing he did was charm her with his stories. These stories were then told to the Duke that these are harmless personal exploits of bravery to convince him and the Venetians that he is not a threat. During the process of Othello’s soliloquy, he claimed that Desdemona fell in love with him because of this background as told by his soliloquy. These adventures of his, was a sort of an aphrodisiac that Desdemona loved him because of this. For his part, Othello fell in love with her because of her fascination to his story indicating that Desdemona’s patronage and faithfulness to his self-image is very important to him and probably one of the pre-requisite for him to fall in love with her. Through this rhetorical device of soliloquy also, it is hinted to us the nature of Othello’s character to be somewhat narcissistic or that he loves himself too much but at

'Poetry exists to disrupt habitual perception' Essay

'Poetry exists to disrupt habitual perception' - Essay Example Jonathan Swift an Anglo-Irish poet of the eighteenth century, is considered a skilled satirist whose most famous work would be Gulliver’s Travels, a novel that which satires human nature and political struggle. Considered to be his best poem and perhaps his best work, â€Å"A Description of a City Shower† is a commentary on urban life and the way that life in a city can be inauthentic and artificial. The poem is constructed with lines in a loose version of iambic pentameter, in heroic couplets. It can be said that the poem evokes that feeling of ’shared experience’ as those portrayed are collectively together and captured in the event of a storm. However, the other shared experience that is just past The subjects of his words are treated with wit and social relevance. The poem is filled with small references some of which may not be immediately revealed, but on repeated readings the joyful mockery has extraordinary appeal. At one point within the poem a direct jab is taken towards the political parties who forever argue and accomplish little in the process. Swift says, â€Å"Triumphant Tories, and desponding Whigs, forget their feuds, and join to save their wigs.†[1]. In one quick stab of wit, Swift suggests that in this moment of rain, the Tories and the Whigs finally have a common element in their experience. The rain may destroy their wigs. In this manner, he reduces the members of these groups to a common element of humanity. With skill and a great, quiet power, Swift is able to reduce his subjects and require humility as they must step off of their pedestal for a moment - all disguised within a cleverly crafted rambling of the story of a rain shower. Louis MacNeice‘s, another Irish poet, wrote â€Å"London Rain† (1941) which also speaks of a rain shower. MacNeice’s work wasn’t intended to have quite the wit of Swift’s work, however his thoughtful and

Compare and contrast market systems and the role of an economist Research Paper

Compare and contrast market systems and the role of an economist within these systems - Research Paper Example Perfect Competition is a market system defined by a large number of buyers and sellers, similar type of products and a low cost of production (Pass, Lowes & Davies, 1993). In Perfect Competition, the role of an economist is to identify the barriers that may hamper the free play of demand and supply. Monopoly is a market system that comprises of a single seller and a product with no close substitutes (Pass, Lowes & Davies, 1993). Contrary to Perfect Competition, in a Monopoly, the seller commands a significant control over the price of the sold goods or services. Any economist dedicated to capitalism ought to extend a theoretical and ethical resistance in a monopolistic scenario. An Oligopoly is a market system dominated by a few sellers (Pass, Lowes & Davies, 1993). The products sold are usually identical or similar and are mostly associated with high cost investments, thereby discouraging the entry of the new players. The primary job of an economist in an oligopolistic market system should be to strive for a more efficient distribution of resources, thereby enabling the entry of new firms and an augmentation in