Saturday, October 26, 2019
Oppostition To The New Deal :: essays research papers
Why was there opposition to the New Deal? In many ways the New Deal turned out to be a success. It clearly stopped the Depression from getting worse; gave hope and confidence to the American people at the worst tome in their history; and ââ¬Ësavedââ¬â¢ American democracy. But why did it face so much opposition and criticism. Firstly, many people believed that the New Deal went against the basic principles of the American constitution. Many people, including the Republicans, thought that the government should not interfere with the economy or help the poor, i.e. there should be policy of laissez faire. However, Roosevelt defied this by setting up social welfare systems and by setting up the National Industry Recovery Act. Later on, however, the Supreme Court decided that several of Rooseveltââ¬â¢s laws were unconstitutional and they were subsequently vetoed. Moreover, after Rooseveltââ¬â¢s victory in the 1936 election, Roosevelt grew so confident that he felt he could replace members of the Supreme Court with people chosen by himself. However, this did no go down well with the American public and as a result many people began to oppose Roosevelt and his policies. Secondly, the New Deal meant that the rich were taxed more in order to pay for the schemes to help the poor. Many business leaders also opposed Rooseveltââ¬â¢s support for trade unions and employee rights. Wealthy business organisations, such as the American Liberty League, opposed Roosevelt. As they did not like the way the New Deal ââ¬Ëinterferedââ¬â¢ with business. Thirdly, more serious opposition came from radicals, such as Louisiana state senator Huey Long, who believed the government and the New Deal had not done enough to stop poverty and unemployment. Long called for taxation of the rich and the total confiscation of all fortunes over $5 million. His ââ¬ËShare our Wealthââ¬â¢ scheme, Long claimed, would give each American family $6,000 to spend. These ideas became very popular among the poor, with over 7.5 million people joining these schemes. There was also much opposition from the States who believed that the New Deal was undermining their authority. Oppostition To The New Deal :: essays research papers Why was there opposition to the New Deal? In many ways the New Deal turned out to be a success. It clearly stopped the Depression from getting worse; gave hope and confidence to the American people at the worst tome in their history; and ââ¬Ësavedââ¬â¢ American democracy. But why did it face so much opposition and criticism. Firstly, many people believed that the New Deal went against the basic principles of the American constitution. Many people, including the Republicans, thought that the government should not interfere with the economy or help the poor, i.e. there should be policy of laissez faire. However, Roosevelt defied this by setting up social welfare systems and by setting up the National Industry Recovery Act. Later on, however, the Supreme Court decided that several of Rooseveltââ¬â¢s laws were unconstitutional and they were subsequently vetoed. Moreover, after Rooseveltââ¬â¢s victory in the 1936 election, Roosevelt grew so confident that he felt he could replace members of the Supreme Court with people chosen by himself. However, this did no go down well with the American public and as a result many people began to oppose Roosevelt and his policies. Secondly, the New Deal meant that the rich were taxed more in order to pay for the schemes to help the poor. Many business leaders also opposed Rooseveltââ¬â¢s support for trade unions and employee rights. Wealthy business organisations, such as the American Liberty League, opposed Roosevelt. As they did not like the way the New Deal ââ¬Ëinterferedââ¬â¢ with business. Thirdly, more serious opposition came from radicals, such as Louisiana state senator Huey Long, who believed the government and the New Deal had not done enough to stop poverty and unemployment. Long called for taxation of the rich and the total confiscation of all fortunes over $5 million. His ââ¬ËShare our Wealthââ¬â¢ scheme, Long claimed, would give each American family $6,000 to spend. These ideas became very popular among the poor, with over 7.5 million people joining these schemes. There was also much opposition from the States who believed that the New Deal was undermining their authority.
Thursday, October 24, 2019
Essay --
Non-Small Cell Lung Cancer: A Review of the effects of Chinese Herbal medicine in NSCLC treatment By: Jay Shah December 11, 2013 Pharmacology 5600 Herbal medicine, like any alternative forms of medicine and therapy has its share of critics, but like most herbal medicine, it has been developed and practiced for millennia. The first known record of Chinese herbal medicine was found in the ââ¬Å"Wushier Bingfangâ⬠(prescriptions for fifty-two ailments) silk manuscript from the Han Dynasty around 206 BCE (Zhang et al, 2012). It contains two hundred and fifty herbal cures to issues such as hemorrhoids, arthritis, inflammation, seizures, warts and many others (Zhang et al, 2012). Historical records of Chinese herbs include over a hundred thousand medicinal recipes to thousands of issues, mostly consisting of plant extracts (Chen et al, 1999). The understanding behind Chinese herbs is an elemental approach that looks as humans as a component of nature and hence can be cured of ailments through natural elements (Chen et al, 1999). Image 1 depicts various Chinese herbs including, ginseng, Astragalus, lilyturf and others. With the development of allopathic medicine from the western world, herbal medicine from around the world has been castigated out of the mind for the majority of the world due to its lack of proper scientific evidence. Recently however, herbal medicine, especially Chinese and Indian has seen somewhat of a resurgence on the global scale in terms of credibility thanks to new research and data from around the world. The National Institute of Health recognizes Traditional Chinese Medicine (TCM) as a viable source of alternative treatment for various ailments and says that over a million people as of 2004 regu... ..., Zhang L, et al. (2011) Effect s of chemotherapy combined with Chinese herbal medicine Kangliu Zengxiao decoction on tumor markers of patient s with advanced non-small cell lung cancer: a randomized, controlled trial. J Chin Integr Med 9: 525ââ¬â530. 11. Li G, Shu-Ping B, Ling Z, Xiao-Hong W (2009). Astragalus polysaccharide injection integrated with vinorelbine and cisplatin for patients with advanced non-small cell lung cancer: effects on quality of life and survival. Journal of Medical Oncology s12032-011-0068-9. 12. Liu QY, Yao YM, Zhang SW, et al. Astragalus polysaccharides regulate T cell-mediated immunity via CD11c (high) CD45RB (low) DCs in vitro. J Ethnopharmacol. 2011; 136(3):457ââ¬â64. 13. Clement-Kruzel S, Hwang SA, Kruzel MC, et al. Immune modulation of macrophage pro-inflammatory response by goldenseal and Astragalus extracts. J Med Food. 2008; 11(3):493ââ¬â8.
Wednesday, October 23, 2019
Friedman Family Assessment Essay
The Friedman Family Assessment assists the nurse in assessing a family and establishing family nursing interventions. This tool allows the community nurse to assess the family system as a whole, as part of the whole society, and as an interaction system (Stanhope & Lancaster, 2008). This paper will review a family that consists of a mother, stepfather, and adopted son. Identifying Data and Composition see more:welcome speech for annual function The family name, address, and phone number is not disclosed in this paper in-order to protect the familyââ¬â¢s identity. The mother CD, who is 44, stepfather PD, who is 55 and her adopted son KD, who is 10 live in the home. The family form is a low middle-class income family of three and the sonââ¬â¢s adopted father is still in the picture and has joint custody. CD and PD have been married only three years. They are Caucasian and speak the English language. CD is not aware of her ethnic background because she was adopted. PD has a French descent. KD has an Asian descent. CD was previously married for 22 years. CD and her x-husband adopted KD at birth. This is PD first marriage. The family religious affiliation is Baptists; they are members at a church two miles away from the home. CD is very involved in their church attending services every Sunday and on Holy Days of Obligation. They live in a singlewide two bedrooms mobile approximately 25 years-of-age and station in a small c ommunity trailer park on the outskirts of town. The mobile home is completely paid for and solely owned by CD. CD makes a living as a unit clerk at a local nursing home and is the breadwinner of the household. She also sells jewelry on the side. PD makes a living at a manufacturer plant that makes engines for lawn mowers, approximately 20 miles from home. Their eating, dressing, and health views are typically of a low middle-class household. CD lives week-by-week on herà paycheck, and she pays for everything accepts the park rent. PD is only responsible to pay the park rent with his paycheck. The household income is not a combined income to help share the responsibility. CD states, she does not know what PD does with his money. The family eats together usually at breakfast and dinner only but in front of the television. They try to eat healthy but sometimes with their busy schedule, they eat out more than they eat in. Both CD and PD states, they do not drink or smoke and believe that they are in good health, but believes they ha ve a weight problem. CD currently weighs 250 lbs. and is 66 inches; she has a body mass index (BMI) of 30, which is obese according to the United States Department of Health and Human Services (2010). PD currently weighs 230 lbs. and is 72 inches; he has a body mass index (BMI) of 32, which is obese according to the United States Department of Health and Human Services (2010). KD currently weighs 95 lbs. and 65.0 inches; he has a body mass index (BMI) of 18.6, which is a healthy weight according to the United States Department of Health and Human Services (2010). The family states, they have a good appetite and have been trying to lose weight but find it difficult because of the day-to-day stressors they encounter. They believe they need more exercise in the lifestyle but cannot find the time to fit it into the daily lives. They do get annual check-ups and follow-up with their physician as needed. CD and PD both have a high school degree and KD is in the fifth grade at the local elementary school. CD likes to hang out with her son and is involved with her community church. PD likes to watch television and hangout with his guy friends. KD likes to play video games and occasional play basketball with the neighborhood children and play with is pet dog, a miniature long hair Dotson name Jack. Developmental Stage and History of Family The CD is in her forties, and PD is in his fifties and according to the Eriksonââ¬â¢s developmental stage, they are both in generativist versus stagnation. Harder (2009) ââ¬Å"so when weââ¬â¢re in this stage we often fear inactivity and meaninglessnessâ⬠(7). The son is 10 years-of-age and according to Eriksonââ¬â¢s development stage, he is in industry versus inferiority. During this stage, the son is capable of learning, creating, and developing new skills. In addition, he should be very social but ifà feelings of inadequacy among his peers he may have problems with competence and self-esteem (Harder, 2009). CD was born in America on August 11, 1965, was adopted by the age of eight. She recently has contacted with her biological father and keeps in-touch with him. Her biological fathersââ¬â¢ background is unknown because he was also adopted at birth. CD does not know anything about her biological mother and prefers to keep it that way. CD states, she was abandoned along with her two younger brothers at a young age. CDââ¬â¢s father was could not handle the children, both financial and emotional so he gave them up for adoption. CD and her younger brother were adopted together to an English-speaking American family in Colorado. A younger couple looking to adopt a baby adopted CD baby brother at the age of one. CD states, her adopted parents were both very loving parents to them, and they had good religious upbringing. CD first marriage failed after 22 years and through this marriage, they adopted CDââ¬â¢s niece infant son. KD who is 10, and he was born on March 5, 2001. CDââ¬â¢s husband PD, was born in the East Coast of New Hampshire in 1956, and he has lived here his entire life. CD and PD lives in a trailer park and just barely makes ends meet. They both work but their income is not pulled together and shared to pay the bills. CD states, she pays for everything, whereas, PD is only responsible for park rent, but there has been time that he neglected to pay and CD had to pay the rent. CD is concerned where he spends his money, and although she loves him, he is not a partner in this relationship. Environmental Data The familyââ¬â¢s home was factory built-in 1986. As I drive up to their home, they have a paved driveway and storage shed adjacent to the trailer. There is no garage for their two vehicles they own. As you walk up to the home, they have a small deck at the front entrances. Once inside the front door you walk into an open concept kitchen, dining room, and living area. The bedrooms are at the end of the narrow hallway and with one full size bathroom and a laundry-room adjacent to the bathroom. The home is heated by propane force-hot-air. There are smokes and carbon monoxide detectors located at both end of the home are functioning properly. Their home is very well maintained and presents a welcome home like feeling. The neighborhood is somewhat a loner community not actively withà socializing. Everyone keeps to himself or herself unless they have kids. There are 25 other well-maintained trailers and good landscaping in the park. There are five families in the park that have children at the same age as KD, and the neighborhood children frequently get together to bike or play sports. There is a play park with basketball hoop, swings, and jungle bars for the neighborhood kids, so they can play and interact. Major grocery store is just one mile from the park, and the park is approximately five miles from downtown. CD states, she does not socialize with her neighbors but thinks that they are pleasant. The family believes that the neighborhood is safe and has a low crime rate. The family spends most of their time with community service through their church. Family Structure and Functions I found during my interview with the family that communication patterns were not shared but was dominated by CD who was more out spoken than PD and KD. CD answered most of the interview questions but PD charmed in from time-to-time if he wanted to add more in-site to the questions or if the question were more pertaining to his background. KD was somewhat shy and clinks to his mother most of the time especially, when he was not feeling well. KD is well behaved and communicates with his parent with respected. KD gets along well with his stepfather; there is no evidence of any behavioral issues in the relationship. KD sees his adopted father every other weekend, and he enjoys his visit with him. Both CD and PD do not believe in spanking as a form of punishment when KD needs discipline but believes in time-out and or grounding him when itsââ¬â¢ needed. CD states, she is the sole decision maker in the family. They do not have a joint bank account, PDââ¬â¢s money is his, and CDââ¬â ¢s money is hers. CD manages and pays the bills, whereas PD is only responsible for the park rent. CD states, her employer has cut her hours from 40 to 32 hours, she is finding it difficult to keep up with the bills and being the main support of the family. She states, PD has not always paid the park rent so that leaves the burden on to her. When I asked PD why CD is managing the household financials by herself, he did not want to discuss the matter. PD and CD share the responsibility in cooking the meals, cleaning the house, and taking care of the laundry. KD helps with keeping his room cleaned and takes out theà trash. PD is also responsible for mowing the grass and taking care of the yard. The family demonstrates reserved affective and socialization functions. Their affection is demonstrated by helping each other with the household responsibility and taking care of KD. CD and PD shows affection with verbalization of I love you and a kiss. KD is close with his mother and hangs out with his step dad occasion. The family as hole respects each other and can express their concerns or issues to one another. The family takes their health care functions seriously. They receive routine health care check-up and believe in healthy eating but do not always practice it routinely. The family at present seems to be healthy and well developed they like to take frequent walks around the neighborhood as a form of exercise. CD is currently being treated for depression and for neck pain. She has a past medical history of asthma, arthritis, and hysterectomy at the age of 34 years-or-age, and she wears prescription glasses to drive. PD is currently being treated for GERD and hypertension. He is not always good about taking multivitamins and the last doctor visit was a year ago. Both CD and PD do not drink or smoke. CD and PD make sure that KD has regular health check-ups, along with keeping up his immunization shuts. Recently KD has developed constipation and stomach pain, he has been through testing, and his physician is not able to find anything medically wrong. KDââ¬â¢s physician believes it could be related to the new stressors in his life regarding his adopted father and his new girlfriend. Family Stress and Coping As talking to both CD and PD, they both demonstrate dealing with stressors in the household and at work. CD and PD are worried about KD and what is causing his feeling sick both emotional and physical at times. The family has seek both medical and psychological advice and getting KD the help, he needs dealing with his adopted father and his new girlfriend. CD is also dealing with several stressors at the present both at home and work. Her work-related stressor is that her hours have been cut back, and she does not know how she going to get all her work done in a short period. She believes her home-related stressor is she will not be able to financial support her family because of her decrease income and her x-husband has been laid-off so most likely will not get child support for a while. PD stressor at home is not providing more of the financial support that he should. They believeà most of the time they handle stressors well, by talking things through, but they admit there is some things they do not feel comfortable bring things up in-order to deal with them. Family Nursing Diagnosis As I looked at the information that I had gathered through Friedman Family Assessment, I found several opportunities that I could focus on for a priority nursing diagnosis. However, I felt that the one that I could contribute more energy to is improving the family nutritional intake and improve in the family activities to promote good health. The priority nursing diagnosis is imbalanced nutrition: more than body requirements related to food intake that exceeds body needs, psychosocial factors, and socioeconomic status. The evidence is noted by the lack of exercise, family activities, excessive intake in relation to metabolic need and BMI indicates obesity for both parents and eating out more often than cooking meals at home. The second nursing diagnosis is interrupted family processes: changes in mutual support related to modification in family finances. The evidence is noted by CD work hours decrease so she will be bring home less pay, PD not contributing to the household income, and x-husband lose job and no longer will be able to provide child support. The third diagnosis is impaired parenting: frequent illness related to KD coping with the stressor the potential of him feeling he is losing his adopted father who is in another relationship. The evidence is noted by KD complaining of stomach pain, nausea, and constipation. Community Health Nursing Interventions The interventions that the nurse will start with for this priority nursing diagnosis is ascertain previous dieting history. This will help the nurse and family determine, which diets and strategies used, results, and individuals frustrations, and factors interfering with his and her success. Another intervention is to implement and review a daily food diary. Both CD and PD are to keep a daily diet dairy for the next two weeks to help determine what time they eat, what they eat, how much the eat, where they eat and why they are eating or reflect on their feelings at the time. This will help the nurse understand CD and PD eating patterns with the when, what, how, and the why approach. The last nursing intervention is for the nurse to determine the CD and PD motivation for weight loss, by assessingà why both want to lose weight. Weight loss is depended on what type of motivates CD and PD. Is the motivation related to health concerns, own satisfaction, and gain approval from others or from each other. The community nurse will be able to help families like this one by using assessment tools such as Friedman Family Assessment model. The tool is important to assess the family in-order to provide valuable information about the family to help complete the nursing process. The information collect will help the community nurse to focus on the family needs. In addition, to help the family develops objectives, goals, and intervention on how to achieve and maintain the goals along with making sure that the family has a positive outcome. References Harder, A.F. (2009). Erik erikson stages of development. Retrieved from http://www.learningplaceonline.com/stages/organize/Erikson.htm Stanhope, M., & Lancaster, J. (2008). Public health nursing: Population-centered health care in the community, (7th ed.). Retrieved from the University of Phoenix eBook collection database. U.S. Department of Health and Human Services (2010). Calculate your body mass index. Retrived from http://www.nhlbisupport.com/bmi/bmicalc.htm
Tuesday, October 22, 2019
ECE Lab Report essays
ECE Lab Report essays In this experiment, we constructed a circuit that was connected to a 7-panel writing board. The 6 inputs from the circuit were hooked up to the corresponding pins on the XS40 FPGA board. Then 6 outputs from the corresponding pins on the XS40 FPGA board were then connected to a ribbon cable that was connected to a computer. When the circuit was complete, we wrote a program in C++ to interface the hardware with the PC using its parallel-I/O port. The program was then improved to implement a calculator interface and performed mathematical operations. There were 15 different combinations on writing panel, which corresponded to 10 different digits, 4 different operands, and an equal sign. Writing panel: it is consisted of 7 metallic panels. Each panel is soldered to a wire, which is connected to the D-latch. The writing panel is used for the user to input the combination of the corresponding number, operand, and equal sign. 7474 D-latch: four chips were used during this lab because we need 7 inputs (Preset). Each panel from the writing board is connected to the PRE on the D-latch to set the state, 1 being used and 0 being unused. Three of four D-latches CLRs were all connected to together in order to clear the writing panel when it is grounded; moreover, all CPs and Ds were grounded. XS40 FPGA board: it used to run VHDL program I/O Port: Port A is connected to the 6 outputs from the XS40 FPGA board, D-latch from the 4th D-latch chip, and the last used PIN being grounded. Port B is connected to the common RESET. I/O port is then attached by a ribbon cable from the computer. This configuration is simply to send inputs to the computer, where a calculator program is implemented. Once a digit, an operand, or an equal sign has been entered, it is sent to the computer and then the computer will automatically clear the writing panel through Port B to RESET. Circuit Diagram and Block Diagram ...
Monday, October 21, 2019
Standard Molar Entropy
Standard Molar Entropy Youll encounter standard molar entropy in general chemistry, physical chemistry, and thermodynamics courses, so its important to understand what entropy is and what it means. Here are the basics regarding standard molar entropy and how to use it to make predictions about a chemical reaction. What Is Standard Molar Entropy? Entropy is a measure of the randomness, chaos, or freedom of movement of particles. The capital letter S is used to denote entropy. However, you wont see calculations for simple entropy because the concept is fairly useless until you put it in a form that can be used to make comparisons to calculate a change of entropy or ÃâS. Entropy values are given as standard molar entropy, which is the entropy of one mole of a substance at standard state conditions. Standard molar entropy is denoted by the symbol Sà ° and usually has the unitsà joules per mole Kelvin (J/molà ·K). Positive and Negative Entropy The Second Law of Thermodynamics states the entropy of isolated system increases, so you might think entropy would always increase and that change in entropy over time would always be a positive value. As it turns out, sometimes entropy of a system decreases. Is this a violation of the Second Law? No, because the law refers to an isolated system. When you calculate an entropy change in a lab setting, you decide on a system, but the environment outside your system is ready to compensate for any changes in entropy you might see. While the universe as a whole (if you consider it a type of isolated system), might experience an overall increase in entropy over time, small pockets of the system can and do experience negative entropy. For example, you can clean your desk, moving from disorder to order. Chemical reactions, too, can move from randomness to order. In general: Sgasà Ssolnà Sliqà Ssolid So a change in state of matter can result in either a positive or negative entropy change. Predicting Entropy In chemistry and physics, youll often be asked to predict whether an action or reaction will result in a positive or negative change in entropy. The change in entropy is the difference between final entropy and initial entropy: ÃâS Sf - Si You can expect a positive ÃâSà or increase in entropy when: solid reactants form a liquid or gaseous productsliquid reactants form gasesmany smaller particles coalesce into larger particles (typically indicated by fewer product moles than reactant moles) A negative ÃâSà or decrease in entropy often occurs when: gaseous or liquid reactants form solid productsgaseous reactants form liquid productslarge molecules dissociate into smaller onesthere are more moles of gas in the products than there are in the reactants Applying Information About Entropy Using the guidelines, sometimes its easy to predict whether the change in entropy for a chemical reaction will be positive or negative. For example, when table salt (sodium chloride) forms from its ions: Na(aq) Cl-(aq) ââ â NaCl(s) The entropy of the solid salt is lower than the entropy of the aqueous ions, so the reaction results in a negativeà ÃâS. Sometimes you can predict whether the change in entropy will be positive or negative by inspection of the chemical equation. For example, in the reaction between carbon monoxide and water to produce carbon dioxide and hydrogen: CO(g) H2O(g) ââ â CO2(g) H2(g) The number of reactant moles is the same as the number of product moles, all of the chemical species are gases, and the molecules appear to be of comparable complexity. In this case, youd need to look up the standard molar entropy values of each of the chemical species and calculate the change in entropy.
Sunday, October 20, 2019
The Rise and Spread of Communism in China essays
The Rise and Spread of Communism in China essays The Rise and Spread of Communism in China The aftermath of World War II had left many countries in ruins, as great masses of countrymen were beginning to suffer from its devastating effects. The remains of what had once been great cities were now destroyed, and the remnants of great buildings and architectural structures now littered the streets. At such a critical and dreadful time, many societies were forced to re-establish and reconstruct, as the war left many injured and homeless, in a daily struggle for survival. An ideal revolution was required, and for China during this post World War II era, communism inevitably became their glorious path towards restoration. The ideal of communism, which can briefly be described as an economic system that is characterized by collective ownership of property with an organization of labor providing for the common good of all the members, contained many political and social aspects, which seemed ideal to a devastated China. Furthermore, the implementation of a new communistic society required the destruction of the previous anti-communist Guomindang regime. Political aid, along with military support additionally played a significant part in the post World War II, as many third worlds became nothing more then pawns in these ongoing contests of the two global superpowers, the United States and the Soviet Union (Turbulent Passage, 118). Inevitably, the aftermath caused by World War II caused the rise and spread of communism, as China desperately needed to diverge from a former Guomindang regime, towards a new communist ideal. The spread of Communism and its ideals in China significantly increased during the occurrence of the war. The rise of Communism during this period is additionally affiliated with the gradual destruction of Chiang Kai-Sheks regime of the anti-communist, Guomindang. Despite initial support of the Guomindang provided by their military, peasants, and landlo...
Saturday, October 19, 2019
The Relationship between Entrepreneuship, Innocation and Economic Essay
The Relationship between Entrepreneuship, Innocation and Economic Development - Essay Example A variety of theories and policy approaches have been advanced with Keynesian influenced stimulus packages being infused into Western economies with varying degrees of success. Still, a growing body of support has turned to the potentials of economic development occurring through entrepreneurship and innovation. Theorists such as Joseph Schumpeter argue that entrepreneurship and innovation are core elements for economic development, and subsequent city and state governments have oftentimes-established incubators and given increased funding to ensure that innovation is supported. This essay examines the relationship between entrepreneurship, innovation and economic development. The essay also considers the role creativity and problem solving play in this relationship, with reference to both theory and examples from the business world. Analysis When examining the relationship between entrepreneurship, innovation, and economic development perhaps the most groundbreaking theorist has bee n Joseph Schumpeter. While Schumpeterââ¬â¢s insights into economic development span a wide array of understandings, there are a number of specific considerations that are relevant for this specific mode of investigation. One of Schumpeterââ¬â¢s most important notions is that of ââ¬Ëcreative destructionââ¬â¢. ... Individuals such as Alan Greenspan have noted that this process underlines economic development. He notes, ââ¬Å""Capitalism expands wealth primarily through creative destructionââ¬âthe process by which the cash flow from obsolescent, low-return capital is invested in high-return, cutting-edge technologies" (Greenspan 2002). There are a number of specific means by which entrepreneurship and innovation carries out such creative destruction. In his text ââ¬ËTheory of Economic Developmentââ¬â¢ Schumpeter argued that entrepreneurship didnââ¬â¢t simply create new industries, but also resulted in the combination of past industries (Schumpeter 1982). One example of this is that the development of the steam engine combined with carriage development techniques to form the automobile. The development of the automobile then drastically shifts previously held economic and social structural elements, reenergizing the economy and contributing to economic development. While Schumpeter ââ¬â¢s theories have received a degree of criticism that remain prominent and highly relevant in the contemporary world environment. In large part, Schumpeterââ¬â¢s understanding of entrepreneurship and innovation as contributing to economic development has been echoed through endogenous growth theory. This perspective contends that a nationââ¬â¢s economic growth occurs through internal rather than external factors. In this context of understanding itââ¬â¢s clear how Schumpeterââ¬â¢s theory on entrepreneurship is squarely rooted within the endogenous means of growth. While entrepreneurship is popularly viewed in terms of inventions and small business owners, in further examining its impact on economic development one must consider the more abstract notion of innovation
Subscribe to:
Posts (Atom)