This document discusses privatization in three parts. It begins with background on state-owned enterprises in Nepal, noting many are inefficient and incurring large losses. It then discusses the history and reasons for privatization, including potential cost savings, improved quality and accountability. Finally, it discusses different methods of privatization and debates around balancing private vs. state control of industries and services.
The document discusses different types of economic systems and the concept of a mixed economy. It explains that a capitalist economy relies on individual decisions and market forces, while a socialist economy relies on decisions made by the state through central planning. Most modern economies are mixed economies, with elements of both private enterprise and state involvement. The concept of a mixed economy emerged as a compromise between purely capitalist and socialist systems.
The ending of capitalism have been subject to predictions that anticipated an end, but it has prevailed and has strengthened; apparently has more strength and staying power now than before
This document discusses the rise of capitalism in the United States in the late 19th century. It focuses on key figures like Andrew Carnegie, John D. Rockefeller, and philosophers like Karl Marx and Herbert Spencer. It also discusses the impact on workers, including long hours, low pay, and unsafe conditions. This led workers to form labor unions, though there were divisions between more mainstream unions and more radical ones that advocated for socialist or communist systems.
Government Intervention & its Effects on the Economyraj_veda
The document discusses the effects of government intervention in markets. While governments intervene to address inefficiency and maximize social welfare, intervention often has the opposite effect. Common forms of intervention include taxation, which dampens the economy by taking money from consumers and businesses, and price setting/subsidies, which force consumers to pay higher prices. Though interventions aim to solve short-term problems, they cause long-term harm to the economy. The document argues that leaving markets free of intervention allows workers, businesses and resources to be allocated most efficiently to meet consumer needs. The government's role should be to protect rights and establish security, justice and arbitration systems rather than interfere in markets.
Reality and Potential of the Indian EconomyRHIMRJ Journal
The document discusses the Indian economy, noting that while India has the 10th largest nominal GDP and 3rd largest GDP by PPP, it still faces issues with poverty, unemployment, and population growth. The economy has struggled with weak policies prior to 1991 liberalization reforms and issues still remain like inefficient state-owned enterprises and restrictive labor laws. While India has great economic potential due to its large population and workforce, corruption and a focus on politics over the economy have hindered growth and employment opportunities. Overall reforms are still needed to the policy, legal, and business environment to strengthen India's economy.
This document contains a cover letter and resume from Alan T. Dixon applying for a position with DECA (Delta Epsilon Chi Alpha). The cover letter discusses Dixon's aspirations to advance economic development and create a tolerant international society through respect and economic cooperation. The resume provides details on Dixon's background in economic and financial studies, including analyses of different economic models, global trade, and technological impacts on employment.
Alan Dixon aspires to create a tolerant and peaceful international society through economic cooperation and respect for human rights. He proposes adopting aspects of South Korea's economic model to promote wealth distribution and reduce inequality within and between countries. This system would balance corporate incomes, reallocate funds to lower-level employees, and use a weighted tax system to stimulate commerce between businesses and households, creating jobs and economic growth. Nation-building and institution-building are also important to develop the global economy and address issues like poverty, debt crises, and rising security costs faced by wealthier nations.
The document discusses the mixed economy model. It defines a mixed economy as a combination of capitalistic economic freedom and principles of socialistic economic control. A mixed economy has elements of both private enterprise and state monopoly, with means of production shared between private and public sectors. Reasons for developing mixed economies include addressing the demerits of purely capitalist or socialist systems. Features include coexistence of private and public sectors, personal freedom, economic planning, and checks on inequality. The document outlines the private, public, and semi-public/autonomous sectors that make up a mixed economy system.
The document discusses different types of economic systems and the concept of a mixed economy. It explains that a capitalist economy relies on individual decisions and market forces, while a socialist economy relies on decisions made by the state through central planning. Most modern economies are mixed economies, with elements of both private enterprise and state involvement. The concept of a mixed economy emerged as a compromise between purely capitalist and socialist systems.
The ending of capitalism have been subject to predictions that anticipated an end, but it has prevailed and has strengthened; apparently has more strength and staying power now than before
This document discusses the rise of capitalism in the United States in the late 19th century. It focuses on key figures like Andrew Carnegie, John D. Rockefeller, and philosophers like Karl Marx and Herbert Spencer. It also discusses the impact on workers, including long hours, low pay, and unsafe conditions. This led workers to form labor unions, though there were divisions between more mainstream unions and more radical ones that advocated for socialist or communist systems.
Government Intervention & its Effects on the Economyraj_veda
The document discusses the effects of government intervention in markets. While governments intervene to address inefficiency and maximize social welfare, intervention often has the opposite effect. Common forms of intervention include taxation, which dampens the economy by taking money from consumers and businesses, and price setting/subsidies, which force consumers to pay higher prices. Though interventions aim to solve short-term problems, they cause long-term harm to the economy. The document argues that leaving markets free of intervention allows workers, businesses and resources to be allocated most efficiently to meet consumer needs. The government's role should be to protect rights and establish security, justice and arbitration systems rather than interfere in markets.
Reality and Potential of the Indian EconomyRHIMRJ Journal
The document discusses the Indian economy, noting that while India has the 10th largest nominal GDP and 3rd largest GDP by PPP, it still faces issues with poverty, unemployment, and population growth. The economy has struggled with weak policies prior to 1991 liberalization reforms and issues still remain like inefficient state-owned enterprises and restrictive labor laws. While India has great economic potential due to its large population and workforce, corruption and a focus on politics over the economy have hindered growth and employment opportunities. Overall reforms are still needed to the policy, legal, and business environment to strengthen India's economy.
This document contains a cover letter and resume from Alan T. Dixon applying for a position with DECA (Delta Epsilon Chi Alpha). The cover letter discusses Dixon's aspirations to advance economic development and create a tolerant international society through respect and economic cooperation. The resume provides details on Dixon's background in economic and financial studies, including analyses of different economic models, global trade, and technological impacts on employment.
Alan Dixon aspires to create a tolerant and peaceful international society through economic cooperation and respect for human rights. He proposes adopting aspects of South Korea's economic model to promote wealth distribution and reduce inequality within and between countries. This system would balance corporate incomes, reallocate funds to lower-level employees, and use a weighted tax system to stimulate commerce between businesses and households, creating jobs and economic growth. Nation-building and institution-building are also important to develop the global economy and address issues like poverty, debt crises, and rising security costs faced by wealthier nations.
The document discusses the mixed economy model. It defines a mixed economy as a combination of capitalistic economic freedom and principles of socialistic economic control. A mixed economy has elements of both private enterprise and state monopoly, with means of production shared between private and public sectors. Reasons for developing mixed economies include addressing the demerits of purely capitalist or socialist systems. Features include coexistence of private and public sectors, personal freedom, economic planning, and checks on inequality. The document outlines the private, public, and semi-public/autonomous sectors that make up a mixed economy system.
Capitalism generates significant inequalities in income and wealth which reduce overall social welfare. While private ownership and market forces lead to economic growth, capitalism also produces goods and services that are harmful or do not meet real social needs. The system is also unstable and prone to economic crises. Some failed capitalist states have extreme poverty, while others require costly bailouts. Islam prohibits practices like usury and monopoly that are necessary for capitalism to grow. In conclusion, capitalism has become a curse by prioritizing profits over people through exploitation, unsafe products, pollution, and corruption.
Capitalism is an economic system where private individuals and businesses own and operate production of goods and services for profit. There are different types of capitalism including free-market capitalism with no government intervention, social market economies with some social policies, and mixed economies with both public and private ownership. Capitalism began with the emergence of private capital and markets in Europe in the 12th-13th centuries. While capitalism allows for private property and free markets, governments often implement minimum wages, safety standards, and other policies. Economists and critics have different perspectives on capitalism and its impacts.
The document outlines the top 10 greatest benefits of capitalism according to the author. It argues that capitalism provides greater choice, freedom, and opportunities for economic growth and innovation. It also claims that there are no viable alternative systems that have proven to work as well as democratic capitalism in modern times. The author concludes that the foremost capitalist democracies like the US, Canada, and countries in Europe are the happiest places in the world.
Comparative Economic Systems - Intro to Capitalism. Read about the Capitalism, its advantages and disadvantages. You will find it helpful in your studies. Don't forget to like and follow.
Very essential to know the rules and regulations of government due to law & acts . and also it's represents the indian govt give how much impotence for business how they protect the small scale units ....
This document discusses several key aspects of economic systems and development. It defines the economy as a system and discusses occupations, work, and how the industrial revolution changed civilization. It also covers concepts like private property, capitalism, socialism, multinational corporations, and how social factors influence economic development. Technological adoption, innovative personalities, population growth, and the cultural support for technology are some of the social influences discussed.
Post socialist transformation in east central europeMaya Humbatova
This document discusses the economic transition of post-communist countries, focusing on the Czech Republic. It outlines the steps of transition according to the IMF, including liberalizing markets, macroeconomic stabilization, and privatization. It then examines the Czech Republic's transition in more detail, noting it adapted quicker than others due to prior exposure to capitalism and democracy. Reforms included replacing central planning with free markets and establishing legal frameworks to support privatization and private business. While reforms faced challenges like corruption, the Czech Republic saw positive economic growth supported by foreign investment attraction. However, lingering state control and delayed bank privatization remained issues.
The document discusses different economic systems such as capitalism, socialism, and mixed economies. It provides definitions and characteristics of each system. Capitalism involves private ownership and operation for profit, while socialism involves social ownership and cooperative management. A mixed economy combines aspects of both systems. The document then compares capitalism and socialism, noting differences in ownership, incentives, equality, and employment. It outlines benefits of capitalism like efficient allocation and production but also drawbacks like inequality, pollution, and exploitation. In the US, issues highlighted include high poverty and wealth inequality.
The document discusses several economic systems - Islamic economy, capitalism, and mixed economy. The Islamic economy is based on principles like zakat (charitable donations), profit and loss sharing, and prohibiting interest. Capitalism is based on individual rights and free enterprise, prioritizing self-interest and economic growth. A mixed economy combines elements of socialism and capitalism, with the government controlling some industries while allowing private enterprise in others.
Unit 6 - Role of Government In Business - Notesdescelsesser
The government regulates business in several ways:
1) Creating laws to foster economic success and protect competition, business agreements, and production processes.
2) Regulations occur at the federal, state, and local levels and the federal government oversees interstate commerce.
3) Governments serve citizens by providing key services and goods using tax revenue, distributing income through programs, and providing jobs, incentives, and allocating resources.
Economic role of government in Indian BusinessGeorge V James
The document discusses the economic role of the Indian government in business. It outlines several key roles: regulator, promoter, entrepreneur, and planner. It also discusses factors that influence the government's role like the economy's development stage. Additionally, it examines issues the government aims to address like poverty, unemployment, and infrastructure development through various policies and programs. The government strives to balance economic growth with social welfare objectives.
The document discusses three main economic systems - capitalism, socialism, and mixed economies. Capitalism relies on private ownership and market forces, while socialism involves state ownership and central planning. Most countries have mixed economies that incorporate aspects of both systems, with private and public sectors operating side by side. The US and Canada are provided as examples of capitalist economies, while India has established a mixed economy with strategic industries controlled by the government and others left to private enterprise.
Economic Institution Issues in PakistanAYESHA JAVED
The document discusses key concepts related to economics including the definition of an economy as the production, distribution, and consumption of goods and services. It also defines different economic systems like capitalism, which is based on private ownership and free market competition, and socialism, where resources and means of production are owned by society and controlled by the government. The document then discusses Pakistan's economic institutions like agriculture, industry, and issues it faces including fiscal and monetary policy challenges, power crisis, law and order issues, low exports and high imports, and lack of tourism. It emphasizes that GDP is an important indicator of an economy and that Pakistan has potential for growth if the government and people work to improve areas like governance, education, technology, and natural resources
Effect of covid 19 on business by sneha aroraSnehaArora26
hey, the effect of covid 19 on business is the most common topic nowadays. so I decided to make my ppt on this.it includes a graph and everything that is required to make it presentable. hope you will like it.if you do then don't forget to like share to your friends and help them to score good marks in their project work
This document discusses government intervention in business. It begins by defining government intervention and noting that some level of intervention exists in all modern economies. The document then provides a historical perspective on intervention, tracing it back to early industrialization when intervention became necessary to address issues like poverty, exploitation, and human rights abuses exacerbated by industrialization. The document outlines various forms and reasons for intervention, such as addressing market failures from externalities, public goods problems, and information issues. It also discusses disadvantages of intervention like higher consumer prices. Finally, it argues that future intervention should focus on improving quality and selectivity, and addressing social issues like education, health, housing and nutrition.
Time-Consistent Fiscal Policy in a Debt Crisis - by Neele Balke and Morten O....ADEMU_Project
This document summarizes a research paper analyzing optimal fiscal policy in a sovereign debt model that incorporates feedback from policy to the economy. The key points are:
1) The model considers a production economy with unemployment and inequality, where the government sets taxes, transfers, public goods, and debt without commitment.
2) In normal times, the government uses procyclical fiscal policies but implements austerity (higher taxes and lower transfers/spending) during debt crises to reduce default incentives and access credit markets.
3) Austerity is optimal both when debt is expensive and strategically to commit not to stimulate the economy after defaulting. Commitment to fixed policies would make austerity unnecessary during crises.
This document summarizes the structural economic issues facing the Philippine economy and society, including rising inequality, unemployment, deindustrialization, and the impacts of neoliberal policies like trade liberalization. It discusses how these factors have contributed to the rise of political dynasties and "economic warlordism" in impoverished areas. The government's response to recent economic and climate crises is described as inadequate. Alternatives proposed include integrating domestic industries, implementing a high-wage labor regime, and recognizing climate debt owed by wealthy nations.
This document outlines 6 key characteristics of capitalism:
1. Economic freedom of choice and enterprise. Individuals are free to make their own economic decisions in the market.
2. Private property rights. Goods, services, and means of production are privately owned.
3. Self-interest and incentives. Individuals pursue self-interest in response to economic incentives like profits and wages.
4. Competition. Competition controls excesses and benefits consumers through lower prices, variety, and quality.
5. Price system. Prices are determined by supply and demand and coordinate resources through an "invisible hand."
6. Limited government role. Government establishes rules and settles disputes, rather than making
China has experienced rapid economic growth over the past 30 years, becoming the world's second largest economy. It is also the largest exporter and second largest importer globally. While China and India are often compared, there are important differences in their economic systems and growth drivers. China's growth has been led by large state-owned companies, while India's private sector has played a bigger role. China maintains more state control over its financial system and can direct credit, while India's system is more market-driven. Both countries still have work to do to address issues around development, inequality, environmental protection, and an aging population as they continue growing in the decades ahead.
This document provides an introduction to the book "Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond" which examines new forms of state capitalism that have emerged around the world. It discusses two new models - Leviathan as a majority investor, where the state remains the controlling shareholder but allows private investment, and Leviathan as a minority investor, where the state takes minority stakes or provides loans while relinquishing control. The introduction uses examples from China and Brazil to illustrate these models and argues that state-linked companies now account for a significant portion of stock market capitalization globally. While some view these new forms of state capitalism critically, the book aims to provide a nuanced analysis of when and how state intervention can
This slideshare throws light on the benefits of investment i.e Inter Corporate Deposits in the backdrop of other options available in the backdrop of changing economic conditions.
Capitalism generates significant inequalities in income and wealth which reduce overall social welfare. While private ownership and market forces lead to economic growth, capitalism also produces goods and services that are harmful or do not meet real social needs. The system is also unstable and prone to economic crises. Some failed capitalist states have extreme poverty, while others require costly bailouts. Islam prohibits practices like usury and monopoly that are necessary for capitalism to grow. In conclusion, capitalism has become a curse by prioritizing profits over people through exploitation, unsafe products, pollution, and corruption.
Capitalism is an economic system where private individuals and businesses own and operate production of goods and services for profit. There are different types of capitalism including free-market capitalism with no government intervention, social market economies with some social policies, and mixed economies with both public and private ownership. Capitalism began with the emergence of private capital and markets in Europe in the 12th-13th centuries. While capitalism allows for private property and free markets, governments often implement minimum wages, safety standards, and other policies. Economists and critics have different perspectives on capitalism and its impacts.
The document outlines the top 10 greatest benefits of capitalism according to the author. It argues that capitalism provides greater choice, freedom, and opportunities for economic growth and innovation. It also claims that there are no viable alternative systems that have proven to work as well as democratic capitalism in modern times. The author concludes that the foremost capitalist democracies like the US, Canada, and countries in Europe are the happiest places in the world.
Comparative Economic Systems - Intro to Capitalism. Read about the Capitalism, its advantages and disadvantages. You will find it helpful in your studies. Don't forget to like and follow.
Very essential to know the rules and regulations of government due to law & acts . and also it's represents the indian govt give how much impotence for business how they protect the small scale units ....
This document discusses several key aspects of economic systems and development. It defines the economy as a system and discusses occupations, work, and how the industrial revolution changed civilization. It also covers concepts like private property, capitalism, socialism, multinational corporations, and how social factors influence economic development. Technological adoption, innovative personalities, population growth, and the cultural support for technology are some of the social influences discussed.
Post socialist transformation in east central europeMaya Humbatova
This document discusses the economic transition of post-communist countries, focusing on the Czech Republic. It outlines the steps of transition according to the IMF, including liberalizing markets, macroeconomic stabilization, and privatization. It then examines the Czech Republic's transition in more detail, noting it adapted quicker than others due to prior exposure to capitalism and democracy. Reforms included replacing central planning with free markets and establishing legal frameworks to support privatization and private business. While reforms faced challenges like corruption, the Czech Republic saw positive economic growth supported by foreign investment attraction. However, lingering state control and delayed bank privatization remained issues.
The document discusses different economic systems such as capitalism, socialism, and mixed economies. It provides definitions and characteristics of each system. Capitalism involves private ownership and operation for profit, while socialism involves social ownership and cooperative management. A mixed economy combines aspects of both systems. The document then compares capitalism and socialism, noting differences in ownership, incentives, equality, and employment. It outlines benefits of capitalism like efficient allocation and production but also drawbacks like inequality, pollution, and exploitation. In the US, issues highlighted include high poverty and wealth inequality.
The document discusses several economic systems - Islamic economy, capitalism, and mixed economy. The Islamic economy is based on principles like zakat (charitable donations), profit and loss sharing, and prohibiting interest. Capitalism is based on individual rights and free enterprise, prioritizing self-interest and economic growth. A mixed economy combines elements of socialism and capitalism, with the government controlling some industries while allowing private enterprise in others.
Unit 6 - Role of Government In Business - Notesdescelsesser
The government regulates business in several ways:
1) Creating laws to foster economic success and protect competition, business agreements, and production processes.
2) Regulations occur at the federal, state, and local levels and the federal government oversees interstate commerce.
3) Governments serve citizens by providing key services and goods using tax revenue, distributing income through programs, and providing jobs, incentives, and allocating resources.
Economic role of government in Indian BusinessGeorge V James
The document discusses the economic role of the Indian government in business. It outlines several key roles: regulator, promoter, entrepreneur, and planner. It also discusses factors that influence the government's role like the economy's development stage. Additionally, it examines issues the government aims to address like poverty, unemployment, and infrastructure development through various policies and programs. The government strives to balance economic growth with social welfare objectives.
The document discusses three main economic systems - capitalism, socialism, and mixed economies. Capitalism relies on private ownership and market forces, while socialism involves state ownership and central planning. Most countries have mixed economies that incorporate aspects of both systems, with private and public sectors operating side by side. The US and Canada are provided as examples of capitalist economies, while India has established a mixed economy with strategic industries controlled by the government and others left to private enterprise.
Economic Institution Issues in PakistanAYESHA JAVED
The document discusses key concepts related to economics including the definition of an economy as the production, distribution, and consumption of goods and services. It also defines different economic systems like capitalism, which is based on private ownership and free market competition, and socialism, where resources and means of production are owned by society and controlled by the government. The document then discusses Pakistan's economic institutions like agriculture, industry, and issues it faces including fiscal and monetary policy challenges, power crisis, law and order issues, low exports and high imports, and lack of tourism. It emphasizes that GDP is an important indicator of an economy and that Pakistan has potential for growth if the government and people work to improve areas like governance, education, technology, and natural resources
Effect of covid 19 on business by sneha aroraSnehaArora26
hey, the effect of covid 19 on business is the most common topic nowadays. so I decided to make my ppt on this.it includes a graph and everything that is required to make it presentable. hope you will like it.if you do then don't forget to like share to your friends and help them to score good marks in their project work
This document discusses government intervention in business. It begins by defining government intervention and noting that some level of intervention exists in all modern economies. The document then provides a historical perspective on intervention, tracing it back to early industrialization when intervention became necessary to address issues like poverty, exploitation, and human rights abuses exacerbated by industrialization. The document outlines various forms and reasons for intervention, such as addressing market failures from externalities, public goods problems, and information issues. It also discusses disadvantages of intervention like higher consumer prices. Finally, it argues that future intervention should focus on improving quality and selectivity, and addressing social issues like education, health, housing and nutrition.
Time-Consistent Fiscal Policy in a Debt Crisis - by Neele Balke and Morten O....ADEMU_Project
This document summarizes a research paper analyzing optimal fiscal policy in a sovereign debt model that incorporates feedback from policy to the economy. The key points are:
1) The model considers a production economy with unemployment and inequality, where the government sets taxes, transfers, public goods, and debt without commitment.
2) In normal times, the government uses procyclical fiscal policies but implements austerity (higher taxes and lower transfers/spending) during debt crises to reduce default incentives and access credit markets.
3) Austerity is optimal both when debt is expensive and strategically to commit not to stimulate the economy after defaulting. Commitment to fixed policies would make austerity unnecessary during crises.
This document summarizes the structural economic issues facing the Philippine economy and society, including rising inequality, unemployment, deindustrialization, and the impacts of neoliberal policies like trade liberalization. It discusses how these factors have contributed to the rise of political dynasties and "economic warlordism" in impoverished areas. The government's response to recent economic and climate crises is described as inadequate. Alternatives proposed include integrating domestic industries, implementing a high-wage labor regime, and recognizing climate debt owed by wealthy nations.
This document outlines 6 key characteristics of capitalism:
1. Economic freedom of choice and enterprise. Individuals are free to make their own economic decisions in the market.
2. Private property rights. Goods, services, and means of production are privately owned.
3. Self-interest and incentives. Individuals pursue self-interest in response to economic incentives like profits and wages.
4. Competition. Competition controls excesses and benefits consumers through lower prices, variety, and quality.
5. Price system. Prices are determined by supply and demand and coordinate resources through an "invisible hand."
6. Limited government role. Government establishes rules and settles disputes, rather than making
China has experienced rapid economic growth over the past 30 years, becoming the world's second largest economy. It is also the largest exporter and second largest importer globally. While China and India are often compared, there are important differences in their economic systems and growth drivers. China's growth has been led by large state-owned companies, while India's private sector has played a bigger role. China maintains more state control over its financial system and can direct credit, while India's system is more market-driven. Both countries still have work to do to address issues around development, inequality, environmental protection, and an aging population as they continue growing in the decades ahead.
This document provides an introduction to the book "Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond" which examines new forms of state capitalism that have emerged around the world. It discusses two new models - Leviathan as a majority investor, where the state remains the controlling shareholder but allows private investment, and Leviathan as a minority investor, where the state takes minority stakes or provides loans while relinquishing control. The introduction uses examples from China and Brazil to illustrate these models and argues that state-linked companies now account for a significant portion of stock market capitalization globally. While some view these new forms of state capitalism critically, the book aims to provide a nuanced analysis of when and how state intervention can
This slideshare throws light on the benefits of investment i.e Inter Corporate Deposits in the backdrop of other options available in the backdrop of changing economic conditions.
Presented by Andrew Duck - Audience Media (Vietnam)
This slideshow is from a presentation at the M2 Marketing & Media events in Ho Chi Minh City, Vietnam organized by ITV-Asia.com and VietnamBusiness.TV
To see videos from the events, interviews with speakers and to get information on upcoming M2 - Marketing & Media Network events please visit VietnamBusiness.TV
We live in a time of new business models, exponential technologies and digital native customers. Businesses are being challenged and looking for innovation. Some designers who design products and services today are the creators of new organisations and businesses tomorrow. Let me share some of the new vocabulary and colourful toolsets you’ll encounter in the future.
About Valentijn
As a UX-expert and creative director Valentijn co-founded the digital product-design studio Little Miss Robot. In 2014 he co-founded Wonderland where he helps companies explore new opportunities with design-led innovation and business-prototyping in a time of digital transformation.
This presentation summarizes processes and tools in managing student workforce scheduling and monitoring for the HelpDesk at the University at Albany's Information Technology Services-Client Support Services. I presented this at the 2014 SIGUCCS Service and Support conference.
Presented by Jay Kumar Kamala - Epinion Vietnam
This slideshow is from a presentation at the M2 Marketing & Media events in Ho Chi Minh City, Vietnam organized by ITV-Asia.com and VietnamBusiness.TV
To see videos from the events, interviews with speakers and to get information on upcoming M2 - Marketing & Media Network events please visit VietnamBusiness.TV
Over the last 10 years, design has gained strategic importance, design thinking has become the norm in many fields outside R&D such as product management, sales or even strategic planning. None of this has any meaning without the thorough understanding of the customers’ needs (a concept which has become known as ‘empathic design’), and the notion that all business efforts should be based on these. However, empathic design is only a starting point, I have experienced that it is essential to develop a common company mentality to really make it work.
Managing Me - Finding Harmony in Skills and SelfKhe Hy
This document appears to be notes from a presentation or discussion on personal development topics like managing energy, ego, meditation, and inner peace. Some key quotes discuss the importance of asking good questions, letting go of ego to avoid suffering, and finding tiny slices of joy. The presentation recommends shifting one's approach by asking better questions, facing fears, releasing ego, practicing stillness, and being your best self.
In this special edition of Political Economic Digest Series, we will look back at some of the highly commendable voluntary efforts made by the people (individuals and groups), coming together for the victims spontaneously, as the earthquake hit. The articles that follow contain documentations of how people acted on their own, in any capacity they could, rather than waiting for the government relief to reach the victims of the quake. Additional articles feature opinions about the spirit of entrepreneurship that has been gaining grounds in Nepal, and also about how the affected people have lost their homes but not their skills – the skills that the people will use to rise again. In the article “A new generation will help Nepal rise up and rebuild,” by Tashi Sherpa, he talks about the faith he has in the entrepreneurial youth of the nation and expresses his belief in them in re-building the country. The article “Unbent and unbowed,” by Samrat Katwal, contains additionally, useful words of caution as we move towards the reconstruction phase. He talks about protecting and using the indigenous knowledge about construction in different topographical and cultural regions of the country.
Presented by John Sampson - DDB Group Vietnam
This slideshow is from a presentation at the M2 Marketing & Media events in Ho Chi Minh City, Vietnam organized by ITV-Asia.com and VietnamBusiness.TV
To see videos from the events, interviews with speakers and to get information on upcoming M2 - Marketing & Media Network events please visit VietnamBusiness.TV
The document is a cover letter and CV from Yahia Hussein applying for a position in the sales or services department. In his cover letter, he highlights his qualifications and experience in logistics from previous roles that match the company's requirements. His CV then provides details of his work experience in events management, operations, and as a contracts coordinator. It also lists his qualifications, courses taken, projects worked on, skills, and objective of seeking a new challenging career in logistics support.
Here are the key advantages and disadvantages of privatization and commercialization in Nigeria:
Advantages:
- Increased efficiency as private companies are profit-driven to cut costs and improve productivity. This leads to better quality and lower prices for consumers.
- Infusion of private capital which helps improve infrastructure and technology. The government does not have to bear the entire financial burden.
- Reduction of government role in business allows it to focus on core functions like regulation.
Disadvantages:
- Potential job losses as private companies aim to reduce excess staff. This increases unemployment.
- Risk of monopoly as key sectors may be dominated by few large private players. This can lead to reduced competition and higher prices.
- Reduction
The document discusses privatization and commercialization of airports. It begins by defining privatization as the transfer of ownership and control of a government entity to a private entity, either wholly or partially. Different types of privatization are described, including concessions, divestitures, joint ventures, trade sales, and liberalization. Airport commercialization transforms an airport into a commercial enterprise, while privatization transfers management and potentially ownership to the private sector. Privatization of airports has occurred in countries like the US, Australia, and some Asian nations. The types of privatization used include share flotations and trade sales. Overall, the document examines the concept and practice of privatizing airports internationally.
This long essay examines the issue of rising government debt in South Africa and proposes privatization as a solution. It discusses how public debt increases the burden on taxpayers and can inhibit economic growth. The literature review covers the causes and impacts of public debt, as well as theories for and against privatization. The document analyzes South Africa's debt levels and proposes partially privatizing state-owned enterprises while implementing regulations to address issues like equitable distribution, growth, transparency and environmental protection. It acknowledges potential opposition but argues privatization could improve fiscal health while increasing investment and efficiency.
Privatization involves transferring public sectors or enterprises to private ownership through various methods like selling state-owned enterprises, issuing shares, or contracting government services to private firms. Tanzania implemented wide-scale privatization of its parastatal organizations beginning in 1995, selling 219 state-owned enterprises. Privatization aimed to improve economic efficiency, reduce the government's financial burden, and stimulate private sector growth by mobilizing domestic and foreign investors. However, critics argue it has also increased unemployment, income inequality, and the potential for private monopolies in Tanzania.
The document discusses quangos, which are quasi-autonomous non-governmental organizations in the UK whose board members are appointed by the government to perform public functions. It notes that in 2006 there were over 800 such organizations, spending over £167 billion. While quangos aim to provide expertise and flexibility to the government, some question whether they remove issues from public scrutiny or are needed given existing government resources. The document examines different types of quangos and their purposes but notes exclusions like government departments.
Economic Significance Of Renewable Energy PolicyDiane Allen
This document discusses the evolution of the US Constitution over time to adapt to societal changes. While the core principles and six functions of government outlined in the Preamble have remained the same, the interpretation of the Constitution has broadened to address issues not foreseen by the founders. Specifically, amendments and court rulings have expanded civil rights and liberties protections and the role of the federal government in areas like the economy and social welfare. The Constitution remains the foundation of US governance but has demonstrated flexibility to keep pace with a modernizing nation while preserving its foundational purposes.
Globalization refers to the increasing integration and interdependence of national economies through cross-border movement of goods, services, technology and capital. It involves both economic and social effects as barriers to international trade and cultural exchanges are reduced. Key aspects of globalization include the expansion of international trade, growth of multinational corporations, increased capital flows between countries, and the spread of technology and culture to new parts of the world. While globalization opens new markets and opportunities for businesses, it can also face objections related to issues like outsourcing and loss of domestic jobs. Overall, globalization affects both businesses and societies in complex ways.
The document provides an overview of a mixed economy, which combines elements of a market economy and planned economy. A mixed economy allows for private business and economic freedoms, but the government also regulates businesses and the economy through taxation and public services. It describes how the private sector and public sector benefit each other through taxation that funds infrastructure like roads, which private entities then construct. Examples of mixed economies include the U.S., U.K., and other developed nations. It concludes by listing some key elements of a mixed economy, such as private ownership and participation in managerial decisions.
The document discusses the history of government regulation of markets in the US. It explains that regulation first began in response to large monopolistic corporations and unsafe food/drugs. Regulation expanded greatly during the New Deal in response to the Great Depression. The document then focuses on telecommunications deregulation in the 1980s and 1990s. It analyzes the impacts and challenges of deregulating regional telecom monopolies and allowing more competition.
This document discusses how transnational corporations have secured "legal certainty" through a new global corporate law made up of numerous trade and investment agreements and norms. This legal framework protects corporate interests over people's rights and national sovereignty. The concept of legal certainty is often misused to justify protecting past contracts and investments over human rights. True legal certainty would place international human rights law above corporate interests. There is a need to reform international law to subordinate trade and investment rules to human rights and make peoples' sovereignty the top priority.
The public sector occupies a key position in India's economy, with over Rs. 20,000 crores invested, about a quarter in railways. The public sector was established to ensure balanced development across all regions and sectors, unlike private enterprises which focus only on certain profitable areas. Public sector units were set up in industries like steel, heavy machinery, and oil to plan development in an equitable manner and make the nation self-sufficient.
This document discusses the relationship between international business and politics. It explains that political changes often precede and enable economic changes, using examples from Eastern Europe and Asia. As countries transition to market-driven economies and privatize state assets, new opportunities arise for multinational enterprises. However, different political ideologies and economic systems, such as democracy versus totalitarianism and market versus centrally planned economies, create different environments for international business. The document also examines forms of economic integration like free trade areas, customs unions, and common markets that aim to increase regional trade.
The article illustrates the results of the economic development of the first fifteen years of the XXI century under the conditions of unprecedented economic freedom, globalization and the appearance of new informational sectors up to and including the first attempts at revising liberalism. The analysis of statistical data demonstrates an obvious increase in the percentage of well-off people in many countries as well as the increased economic capabilities of small, medium and large businesses, whose assets are distributed among an ever-increasing number of owners. This provides the impetus to review our collective approach to liberalization and globalization, as well as to view its unexpected strong sides that make human progress possible.
Privatization involves transferring state-owned or controlled enterprises to private ownership or control. It has involved two phases in Russia: 1) distributing vouchers to citizens to purchase state enterprises, and 2) permitting cash purchases of state enterprises, enabling foreign investment. While privatization aims to improve efficiency, it can also be driven by greed and corruption at the expense of public services, workers, and accountability. The terms "public" and "private" are complex with both governmental and common/societal meanings in different contexts.
Privatization involves transferring state-owned or controlled enterprises to private ownership or control. It has involved two phases in Russia: 1) distributing vouchers to citizens to purchase state enterprises, and 2) permitting foreign and domestic investors to purchase state enterprises for cash. While privatization can increase investment, it also risks lack of oversight and corruption if not properly regulated to protect the public interest.
The document discusses the concepts of public goods and private goods and the need for government intervention in economies. It defines public goods as indivisible goods like national defense and street lighting that cannot be priced or exclude users. Private goods are divisible and can be priced so users can be excluded. It also discusses the "free rider" problem where individuals may not voluntarily pay for public goods. The document argues that government intervention is needed to address issues like inequality, monopolies, unemployment, instability, and externalities in free market systems. It provides examples of fiscal, monetary, and supply management measures taken by the Indian government to stabilize the economy and reduce inequality.
The document discusses government intervention in markets. It explains that while free markets are generally best at allocating resources, governments intervene in markets for several reasons: to correct market failures, achieve a more equitable distribution of income/wealth, and improve economic performance. The document then provides examples of different types of government intervention, including legislation/regulation, direct provision of goods/services, fiscal policy tools, and interventions to address information gaps. It also discusses privatization and nationalization of industries as well as the importance of considering stakeholders affected by policy decisions.
The Role Of Privatization In Improvement Of Productivity...Susan Kennedy
The document discusses the role of privatization in improving productivity in the public sector. It begins by defining privatization as the transfer of asset ownership from public to private hands. Privatization can take several forms, such as divestiture, sale of shares, and transferring management to the private sector. There are several rationales for privatization, including increasing economic efficiency and streamlining the public sector. At the same time, there has been increasing public loss of confidence in government institutions providing public goods and services. This, along with other factors, has driven movements toward greater privatization.
Similar to Privatisation. Political Economic Digest Series - 14. (20)
Milton Friedman discusses the power of free markets using Hong Kong as an example. He summarizes that Hong Kong has thrived due to having one of the freest markets in the world, with minimal government intervention and no trade restrictions. This has allowed its industrious people to transform a barren rock into a prosperous, dynamic city through hard work and innovation. Friedman argues that free markets are the best system for improving living standards and reducing poverty worldwide by fostering cooperation and releasing human potential and creativity.
Improving Business Environment at Sub-National LevelAkash Shrestha
The capital of State 4, Pokhara - Lekhnath Metropolitan City (PLMPC) – the largest city by area and second largest city by population in Nepal – has immense potential for growth. Its rich abundant natural resources and scenic landscapes have helped promote the region as a tourist hub. However, there is an urgent need to improve the overarching macroeconomic indicators and regulatory barriers that pose a serious threat to the city’s economic development. To the same end, promoting enterprises with the highest-growth potential by creating a conducive business environment also becomes extremely vital.
Rising property ownership among women in Kathmandu, Nepal: an exploration of ...Akash Shrestha
There is evidence that property ownership empowers women
by increasing their self-confidence, ability to contribute to
decisions, control over their reproductive behaviour, ability to
borrow and economic independence. Yet, women around the
world own negligible assets. It is not surprising that assets
ownership among Nepalese women is insignificant. In urban
areas of Nepal, however, women’s assets holdings have
increased dramatically over the last four decades. The article
analyses the institutions that resulted in increased asset hold-
ings among women in Kathmandu, Nepal, and shows how
strategic action by some men and women has given rise to new
norms which favour property ownership among women. The
findings are based on a sample of 193 women who legally own
property (home or land) in Kathmandu, Nepal.
In this chapter, we won’t try to prove that trade is good for growth and that liberalisation is good for trade, so liberalisation is always good for growth whatever the circumstances. But we will demonstrate that an open trade policy is more likely to contribute to economic growth than alternative policies. We’ll start by looking at the different factors that contribute to economic growth and how trade affects them, and then we’ll look at the relationship between trade and R&D, trade and the diffusion of new technologies, and trade and investment.
The anti-globalization movement had its coming-out party in Seattle in 1999, when thousands of activists and trade union members protested against a new round of trade negotiations in the World Trade Organisation. Millions were drawn to these protests because of a preceding anti-WTO statement that was circulated on the internet, and signed by about 1 500 different groups, from churches to militant communists.
China is passing through massive transformation; from a command to a market economy, from an economy based on agriculture to one based on manufacturing and services, from one with high fertility and low longevity to one faced with OCDE style low fertility and high longevity, and from an economy that was almost totally closed to one that, today, even before her accession to the WTO, is much more open than most countries at the same level of income. This vast movement of transformation started on a very simple principle frequently stated by Deng Xioaping: “Poverty is not socialism”. Prosperity was the new face of the socialism according to Deng Xiaoping’s famous dictum: to get rich is glorious. In the past socialism used to mean government planning, for the new China, it means common prosperity.
How indias liberalization shaped a generation of entrepreneursAkash Shrestha
India's economic liberalization in 1991 unleashed entrepreneurship and led to significant growth for companies like Infosys. A study found the number of first-generation companies listed in the elite Group A of the Bombay Stock Exchange grew from 9 in 1991 to 30 in 2011, a 588% increase. Even with recent policy paralysis, the researcher believes entrepreneurs will continue to find ways to succeed and contribute more to India's GDP and socioeconomic development due to skills and attitudes developed during the post-liberalization period.
There has been widespread criticism that the reforms of the last 20 years have bypassed poor regions; have bypassed poor sections of the population like dalits (formerly called untouchables); that poor people have in desperation taken to Maoism, which now affects almost a quarter of all districts; and that social and poverty indicators have not improved fast enough. These criticisms are mostly exaggerations or falsehoods.
Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to society . . . . He intends only his own gain, and he is in this, and in many other cases, led by an invisible hand to promote an end which was not part of his intention.
- Adam Smith
सरकार एउटा संस्था हो, जोसँग निश्चित भौगोलिक क्षेत्रमा सामाजिक आचरणका नितिनियमहरु लागु गर्ने शक्ति हुन्छ । के व्यक्तिलाई यस्तो संस्था आवश्यकता पर्छ? पर्छ भने किन?
There cannot be a second opinion when we say that human civilization has profited immensely by opening up markets and fostering the spirit of entrepreneurship. Before the last two centuries, almost every human kind lived in poverty. Suddenly everything changed. After the industrialization in United Kingdom and capitalist approach in United States of America, the globe witnessed increase in wealth of people along with the rise in their life expectancy rate. But how was this suddenly possible? Maybe the answer is quite relevant and required for our country.
Introduction to Free Market and Market EconomyAkash Shrestha
The document discusses the history and evolution of economic systems and concepts of economic freedom. It explains that after the decline of mercantilism, debates emerged around socialist and capitalist economic models. While socialist economies initially saw some success, the collapse of the Soviet Union demonstrated their internal flaws and limitations. This led to increased exploration of alternatives and emphasis on economic freedom, defined as individual choice, free markets, and secure private property rights. Countries with higher levels of economic freedom tend to have greater prosperity, growth, and citizen satisfaction according to research.
Should the minimum wage be abolished (i.e. reduced toAkash Shrestha
In presidential and Congressional campaigns, the issue of raising the minimum wage workers is often brought up. Most Republicans and many Democrats oppose a rise in the minimum wage. Some economists believe it should be abolished altogether; in other words, businesses would be able to pay $1 or $7 per hour if they wanted, assuming they could find people to hire at the specified rate. This analysis examines the pros and cons of the economists' suggestion.
The social costs of monopoly and regulationAkash Shrestha
The traditional analysis of the costs of monopoly concentrates on the deadweight loss involved, monopoly rents being considered merely a transfer to the monopolist from the consumer surplus that would exist under competition. Some years ago, that analysis was challenged by Posner (1975), who presented an ingenious argument that monopoly rents in fact measure the resources lost to society through rent seeking activities and thus should be counted in the costs of monopoly. That argument has recently been used by staff members of the Federal Trade Commission (Long et al. 1982, chap. 3, esp. pp. 77, 97, 104; see also Tollison, Higgins, and Shugart 1983, pp. 23-44) in an attempt to estimate the benefits potentially flowing from the use of the FTC's line-of-business program in antitrust enforcement.
The document discusses the history and evolution of economic systems and concepts of economic freedom. It explains that after the decline of mercantilism, debates emerged around socialist and capitalist economic models. While socialist economies initially saw some success, the collapse of the Soviet Union demonstrated their internal flaws. This led to increased exploration of alternatives and emphasis on economic freedom, defined as individual choice, free markets, and secure private property rights. Countries with higher levels of economic freedom tend to have greater prosperity, growth, and citizen satisfaction according to research.
उच्चस्तरीय शिक्षा आयोगको प्रगति प्रतिवेदन तथा सिफारिसहरू (मस्यौदा) २०७४ पौष ४...Akash Shrestha
The document discusses the formation and initial work of Nepal's High-Level Education Commission formed in 2074 to provide recommendations on reforming and improving Nepal's education policies, programs, and organizational structure in line with the federal system. It notes the commission was tasked with studying 10 areas of education and submitting a report to the Ministry of Education within 5 months. It also summarizes the experts formed to assist the commission and some of their initial activities, which include reviewing past commission reports and education news/views, and analyzing current annual and long-term plans.
Foreign Direct Investment. Political Economic Digest Series - XVIAkash Shrestha
In this issue, we will be discussing about Foreign Direct Investment (FDI).
Foreign Direct Investment has been a very productive tool for the economic growth of many countries. Recently after the government made the decision to celebrate 2012/13 as investment year and after the agreement with India i.e. Bilateral Investment Promotion and Protection Agreement, the topic of Foreign Direct Investment has been highly discussed among the lawmakers, policymakers and general public. The examples provided in this issue of different countries regarding FDI has shown how the growth rate is positively affected by the investment from outside the country.
On Education. Political Economic Digest Series - 12Akash Shrestha
In this series, we have a couple of readings that talk about alternative approaches to this issue. First reading is an article entitled “Improving Nepalese Education through choice”, in which the author talks about the education voucher system and its implementation in Nepal.
Education Voucher System developed by Nobel Laureate economist Milton Friedman intends to bring more quality and responsibility in public education system by bringing the virtuous qualities of markets i.e. competition and incentives to the public education without harming the access of the poor to education. Second reading in the series is an article entitled “The Failures of State Schooling in Developing Countries and the People’s Response” by James Tooley and Pauline Dixon.Mr Tooley is a prominent figure in the study of educational systems and educational policies around the world. In this article, the authors have discussed about the various alternatives poors have adopted in response of failure of the State to provide quality education.
Globalisation and Poverty. Political Economic Digest Series - 11Akash Shrestha
In this series, we’ll be discussing about globalization and poverty. As we discussed in our earlier series, globalization and free trade are among the most prominent issues of discussion in the policy discousrse countries out of dire poverty. However, globalization isn’t free from criticisms or opponents. Critics of today. Globalization has contributed significantly in lifting millions of citizens of the Third World globalization hold globalization responsible for the increasing environmental degradation, consumerism and most of all increasing the gap between rich and the poor. In popular words, “rich are getting richer poor are getting poorer”.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
हिंदी वर्णमाला पीपीटी, hindi alphabet PPT presentation, hindi varnamala PPT, Hindi Varnamala pdf, हिंदी स्वर, हिंदी व्यंजन, sikhiye hindi varnmala, dr. mulla adam ali, hindi language and literature, hindi alphabet with drawing, hindi alphabet pdf, hindi varnamala for childrens, hindi language, hindi varnamala practice for kids, https://www.drmullaadamali.com
Communicating effectively and consistently with students can help them feel at ease during their learning experience and provide the instructor with a communication trail to track the course's progress. This workshop will take you through constructing an engaging course container to facilitate effective communication.
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 𝟏)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐄𝐏𝐏 𝐂𝐮𝐫𝐫𝐢𝐜𝐮𝐥𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐚𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptxEduSkills OECD
Iván Bornacelly, Policy Analyst at the OECD Centre for Skills, OECD, presents at the webinar 'Tackling job market gaps with a skills-first approach' on 12 June 2024
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptx
Privatisation. Political Economic Digest Series - 14.
1. Political Economic Digest Series 14 Samriddhi, The Prosperity Foundation
Political Economic Digest Series- 14
Dear Political Economic Digest Series participant,
In last series we discussed about sources of economic progress for a country. The reading was
chapter from the book called “Common Sense Economics: What everyone should know about
wealth and prosperity” written by three prominent economists. In this series we will discuss
about Privatization.
Background
Across the world, the state is associated with the welfare of its citizen. The degree and kinds of
such welfare vary from nation to nation. Countries such as Sweden, Norway, Cuba, Venezuela,
etc., provide a large portion of services and facilities (i.e. healthcare, education and much more)
to its people through high taxes. On the other hand, there are liberal countries where the
private sector provides the most essential of services to the people and the government has
limited role and scope when it comes to citizen welfare. In the Nepalese context, the
government has been trying to take up the role of welfare provider for its citizens not only
through attempts of providing social security but also opening up state enterprises to provide
many basic service and facilities to the people. There are state enterprises for basic services
which range from dairy to electricity to cigarette to medicines to aviation to educational
materials to media to cement to fuel and many more. Many of such enterprises have remained
a monopoly and have been non-performing. There are a total of 36 fully government owned
and 39 partially owned such public enterprises in Nepal which intend to provide service to the
people. According to The Economic Survey, 2000/10 shows that out of the 36 State Owned
Enterprises (SOE), only 50% are in profit. However, we cannot be very satisfied with the
remaining half of those which are making profit as these SOEs have been enjoying monopolies
and subsidies. Except for a few, SOEs in Nepal have been known for corruption, inefficiency and
financial disasters. The corruption scandals at the Nepal Airlines Corporation (NAC), Janak
Educational Materials Center, Nepal Food Corporation and other SOEs make it to the headlines
of the Nepalese newspapers more than often. The losses incurred by Nepal Oil Corporation
(NOC) have been a huge burden on the economy. According to latest figures, NOC’s estimated
total loss for the month February 2012 was NRs.1,180,254,227. Some of the public enterprises
have even negative net worth owing to the continuous losses over a long period of time. The
state owned Nepal Electricity Authority (NEA) is only able to provide electricity eight to ten
hours during the dry season. Similarly, the severe shortages of fuel are a part of the social fabric
by now where the state owned NOC holds monopoly. State Owned Enterprises which are
2. Political Economic Digest Series 14 Samriddhi, The Prosperity Foundation
opened based on the rationale of providing quality services at low prices to the people have
been known for all the wrong reasons over the years such as corruption, sub-standard services,
untimely or no delivery and utter lack of accountability. While this is the situation of
the public sector, most of the functions of these enterprises are being taken up by private sector
which is performing pretty well. For example, the case of state run Janakpur cigarette factory
versus private Surya tobacco. Janakpur Cigarette Factory has an accumulated loss of more than
a billion rupees and has been operating on loss for almost two decades now. It has more than
1100 staffs. Compare it to Surya tobacco which is one of the largest taxpayer of the country
which has about 900 staffs. The scenario is not very different in the case of many of our public
enterprises.On the other hand, there are example where deregulation in sectors like
telecommunication and partially privatizing the state owned telecommunications corporation
had turned it into one of the highest tax payers of the nation.
Hence, some important questions to ponder over would be are private companies better at
providing quality goods and services at lowest rates possible when being guided by profit? What
kind of incentive systems are at interplay which make private companies usually more
accountable than state owned enterprises? Would privatization help Nepal’s grief struck SOE’s
like NOC, NEA etc.? Would people enjoy better goods, services, choices and accessibility in
cheaper rates with privatization ?
Privatization
Privatization can also be called denationalization or disinvestment. All three terms describe a
situation where a government decides to transfer control of a government, and thus public
owned, resource to the private business sector, either partially or totally. Sometimes, the
government continues to exert a certain amount of control over the industry or service, called
municipalization. For example the government may be able to limit prices and make certain
demands through contracts, but private companies perform the work for a municipalized
industry or service. The reverse process of privatization is called nationalization, when a
government takes control of an industry or service from the private sector.
Privatization is a fuzzy concept that evokes sharp political reactions. It covers a great range of
ideas and policies, varying from the eminently reasonable to the wildly impractical. Yet however
varied and at times unclear in its meaning, privatization have unambiguous political origins and
objectives. It emerges from the countermovement against the growth of government in the
West and represents the most serious conservative effort of our time to formulate a positive
alternative. Privatization proposals do not aim merely to return services to their original
location in the private sphere. Some proposals seek to create new kinds of market relations and
promise results comparable or superior to conventional public programs. Hence it is a mistake
to define and dismiss the movement as simply a replay of traditional opposition to state
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intervention and expenditure. The current wave of privatization initiatives opens a new chapter
in the conflict over the public-private balance.
In the ideological world we inhabit, contesting interests and parties use "public" and "private"
not only to describe but also to celebrate and condemn. Any serious inquiry into the meaning of
privatization must begin, therefore, by unloading the complex freight that the public-private
distinction carries. In this section I analyze, first, the general uses of the public-private
distinction and, second, the recent political application of the concept of privatization.
Source : The Meaning of Privatization by Paul Starr http://www.wisegeek.com/what-is-
privatization.htm
History
A long history of privatization dates from Ancient Greece, when governments contracted out
almost everything to the private sector. In the Roman Republic private individuals and
companies performed the majority of services including tax collection (tax farming), army
supplies (military contractors), religious sacrifices and construction. However, the Roman
Empire also created state-owned enterprises—for example, much of the grain was eventually
produced on estates owned by the Emperor. Some scholars suggest that the cost of bureaucracy
was one of the reasons for the fall of the Roman Empire.
Perhaps one of the first ideological movements towards privatization came during China's
golden age of the Han dynasty. Taoism came into prominence for the first time at a state level,
and it advocated the laissez-faire principle of Wu wei, literally meaning "do nothing". The rulers
were counseled by the Taoist clergy that a strong ruler was virtually invisible.
During the Renaissance, most of Europe was still by and large following the feudal economic
model. By contrast, the Ming dynasty in China began once more to practice privatization,
especially with regards to their manufacturing industries. This was a reversal of the earlier Song
dynasty policies, which had themselves overturned earlier policies in favor of more rigorous
state control.
In Britain, the privatization of common lands is referred to as enclosure (in Scotland as
the Lowland Clearances and the Highland Clearances). Significant privatizations of this nature
occurred from 1760 to 1820, coincident with the industrial revolution in that country.
In more recent times, Winston Churchill's government privatized the British steel industry in the
1950s, and West Germany's government embarked on large-scale privatization, including selling
its majority stake in Volkswagen to small investors in a public share offering in 1961. In the
1970s General Pinochet implemented a significant privatization program in Chile. However, it
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was in the 1980s under the leaderships of Margaret Thatcher in the UK and Ronald Reagan in
the USA, that privatization gained worldwide momentum. In the UK this culminated in the
1993 privatization of British Rail under Thatcher's successor, John Major; British Rail having
been formed by prior nationalization of private rail companies.
Significant privatization of state owned enterprises in Eastern and Central Europe and the
former Soviet Union was undertaken in the 1990s with assistance from the World Bank, the U.S.
Agency for International Development, the German Treuhand, and other governmental and
nongovernmental organizations.
Source: http://en.wikipedia.org/wiki/Privatization
Why Privatize?
By Reason Foundation
As this is written in 2010, a recession is causing fiscal trauma in many states. The 50 states face
a combined budget gap of approximately $200 billion. Many local governments are in
desperate straits due in part to declining property tax revenues. "Creative budgeting" is no
longer sufficient to hide the need to cut spending.
Government managers and concerned citizens can use privatization to achieve a number of
other goals:
• Cost Savings: A Reason Foundation review of more than 100 privatization studies found
savings ranging from 20 percent to 50 percent.
• Access to Expertise: Contracting gives governments access to expertise they do not have
in-house on an as-needed basis. It is cheaper to retain architects, engineers, and lawyers
on an as-needed basis than to hire them as full-time employees.
• Better Quality: Competition brings out the best in competitors, whether it is in sports or
in the business of providing public services. Bidders have incentives to offer the best
possible combination of price and service quality to beat their rivals.
• Improved Risk Management: Contractors, rather than the government, are responsible
for cost overruns, strikes, delays, and other risks.
• Innovation: Competition to win and retain contracts spurs the discovery of new, cutting-
edge solutions. Without competition, even top-notch employees may stop looking for
ways to improve how they meet customers' needs.
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• Meeting Peak Demand: The cost of providing a public service can be raised considerably
by the capital and manpower needed to satisfy demand at peak periods, even though
those peaks may last only for a few hours a day, a few days a week, or a few months a
year. Contracting allows governments to obtain additional help when it is needed so
that services are uninterrupted for residents.
• Timeliness: "Time is money" if you are a contractor footing the bill, or if your contract
with the city or state includes penalties for delays. Contractors can recruit additional
workers or provide performance bonuses to meet or beat deadlines, options that often
are unavailable to in-house staff.
If badly executed, privatization like any other policy can fail. Taxpayers are no better off, and
may be worse off, if a service is moved from a government agency to an incompetent or
inefficient private business. But we have the experiences of governments in the United States
and around the world to learn from. The 10 principles of privatization that follow in this report
capture the best practices that have emerged from those experiences.
How to privatize ?
There are many ways to privatize public services. The four most common methods, listed in order by
how much responsibility to oversee or subsidize the service the government entity typically retains
(from most to least), are:
# Contracting out: Governments contract with private-sector service providers, either for-profit or
nonprofit, to deliver public services for a fee.
# Franchises: Governments award private firms exclusive rights to provide public services or operate
public assets, usually in return for annual lease payments or a one-time, up-front payment and subject
to meeting performance expectations outlined by the government agency. This is also sometimes called
leasing or concessions.
# Vouchers: Governments give consumers vouchers or certificates that can be redeemed for a specific
service provided by a participating private business or nonprofit. Vouchers are used in several states to
expand school choice (Walberg 2010).
# Service Shedding or Divestiture: Governments shed responsibility for providing a service, activity, or
asset entirely, often through outright sales. Local governments routinely sell off aging or underutilized
land, buildings, and equipment, returning them to private commerce where they may be more
productively used.
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Privatization vs. the State
by Chris Woltermann
Bertrand de Jouvenel wrote that history "is the picture of a concentration of forces growing to... the
state, which disposes, as it goes, of ever ampler resources, claims over the community ever wider rights,
and tolerates less and less any authority existing outside itself."
We should remember his words in assessing the progress of privatization of state-owned assets in
Eastern Europe and the various Republics of the Soviet Union. The need for privatization is urgent, but
unless ex-communists disabuse themselves of the notion that government should administer the
transfer of state properties to private hands, privatization will remain an empty promise, and enervated
state systems will lumber on indefinitely.
So far, the efforts in those countries resemble that of a witless counterfeiter who copies other
counterfeiters' work. Such a bungler will produce a product twice removed from the genuine article.
In theory, the policy of governments to divest themselves of socialized properties should reverse the
historical trend toward the distension of public authority. Privatization should augment private interests
in civil society while reducing both the scope and the intensity of governmental activity. This reasonable
theory, however, proves practically inoperable. It only serves to mask--and thereby facilitate--the state's
growing subjugation of private interests.
Western privatizers take an action-oriented, empirical perspective: privatized enterprises are desirable
because they yield tax revenues. and the proceeds from the sale become available to finance new
governmental programs. Then, too, the welfare state's "mandated benefits" can be expanded to newly
private firms. In contrast, government-owned businesses require subsidies that divert public spending
from other objectives. Thus privatization serves the welfare state by both funding it and relieving it of
someof its burdens, freeing resources for the state to meddle yet more intrusively in the lives of its
subjects.
State-sponsored privatization does not reverse the welfare state's pernicious conflation of public and
private interests. Instead, all property takes on an air of conditionality: it becomes a species of "social
grant," something analogous to an entitlement whose beneficiaries retain their positions on condition
that they fulfill social democratic pods.
Everything denoted by proprietorship has come to subsist at the will of those who staff the
government's apparatus. Under penalty of the state's sanction, property owners must manage their
possessions so as to satisfy the demands of egalitarian victim groups. If two hallmarks of ownership are,
as Aquinas taught, exclusive possessionand the right to control, then today's proprietors appear
increasingly to be mere stewards of public property.
This is precisely the conundrum of privatization in Eastern Europe and the Soviet Union. These efforts
are already floundering and causing a public backlash against privatization by bureaucracies and
international agencies. Only in former East Germany is privatization taking hold, but there again in its
social democratic variety, and with the help of a "rich uncle" to stand surety for their future.
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If not through a state-run program, how, then, to privatize? If it happens, it will be through a radical
privatization from below--an authentic dismantling of the state--rather than from above, where the
state disingenuously divests itself of costly socialized property.
No blueprint exists for privatization from below, yet the history of the Western Roman Empire's
dissolution provides an inkling of what workable privatization might look like. Russian-born historian,
Mikhail IvanovichRostovtsev, provides suggestive analysis in his Social and Economic History of the
Roman Empire.
The reforms of Diocletion and Constantine, explains Rostovtsev, brought productive activity nearly to a
standstill. Although this was hardly the emperors' intention, their ruinous taxes, which systematically
despoiled the private sector, made disaster inevitable. No longer could men employ their creative
energies and ideas--and what was left of their capital assets--to generate wealth. The only path to
personal enrichment was state employment, where the corrupt cunning exploitation" of one's position
enabled one to plunder both the people and the government. The entire situation.like today's collapsing
communist societies, was extraordinarily unstable.
That's when privatization got underway. Roman officeholders appropriated state lands as their private
property. Other officials used ill-gotten liquid wealth to purchase real estate of newly-impoverished
merchants and landowners. Rome's erstwhile "public servants," having acquired vast estates where they
ruled amidst mercenary retainers, came to devote their time and energy to private concerns. By default,
the Roman state withered away.
Nor were the officeholders the only practitioners of crude privatization. Barbarian invaders seized much
property. And Romans who were not officials, provided they were energetic and unscrupulous, also
grabbed public and private lands.
The late Roman Empire's process of privatization was chaotic, lawless, and often violent. Yet despite the
untold suffering it involved, it swept away the abominations wrought by Diocletian and Constantine.
Thus in some ways it worked splendidly. Moreover, it was--and remains in both retrospect and prospect-
-the only conceivable means to reverse statism.
If replicated in lands blighted by communism, the Roman precedent would have government officials
and/or ex-communist party members privatizing--that is, seizing for their private purposes the lion's
share of public properties. Ambitious civilians, certainly including common criminals, would also grab
quite a bit. The role of barbarian invaders would fall to foreign investors intrepid enough to invest
without guarantees. The entire affair would be an enormous upheaval, the sort of epochal event which
gives birth to epics and tragedies.
What about the necessity of orderly change? It is commonly suggested that the first step towards
orderly dismantling communism is the creation of laws that respect private property. In fact, private
property is chronologically and logically anterior to laws that respect it. Private property must exist
before there can be laws enshrining it as a right. In our example, the property rights established amidst
the debris of the Western Roman Empire became the basis of new civil codes cobbled together with
Roman jurisprudence. Laws by themselves do little or nothing to alter their social contexts. Private
property must be established before it can be legalized and protected.
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If Western privatization enthusiasts are right to be optimistic about the future of former communist
societies, it will be the first time in history that internal revolutionary change significantly diminished
state power. The ghosts of Diocletian and Constantine will always demand their revenge.
"Revolutions liquidate weakness and bring forth strength," said de Jouvenel. That's why, short of the
solution laid out here, a gambling man would require steep odds to bet in favor of authentic, state-run
privatization.
Is Privatization Necessary?
John Nellis
The World Bank FPD Note No. 7 May 1994
The answer is a decided “yes.” Privatization is necessary and not simply to improve the performance of
public enterprises—though the evidence is striking that it can and does improve performance.
Privatization’s essential contributions are to “lock in the gains” achieved earlier in reforming public
ownership or in preparing a firm for sale, to distance the firm from the political process, and to inoculate
it against the recurrence of the common and deadly ailment of public enterprises: interference by owners
who have morethan profit on their minds.
Performance and ownership—the debate
Market forces
Neoclassical economic theory suggeststhat the relationship between ownershipand performance is
tenuous; efficiencyis seen mainly as a function ofmarket and incentive structures. Intheory, it makes
little difference whethera firm is privately or publicly owned aslong as:
• It operates in a competitive or contestablemarket without barriers toentry or, just as important,
barriers
to exit.
• The owner instructs management tofollow the signals provided by themarket and gives it the
autonomy todo so.
• Management is rewarded and sanctionedon the basis of performance.Evidence shows that the theory
doesindeed apply in practice—with twocrucial qualifications. First, the full setof necessary conditions is
only rarelymet. And second, even when it is met,it tends to stay met for only a while;the necessary
conditions cannot bemade to endure.
Principal and agents
There are a number of modern amendmentsto neoclassical reasoning thatattempt to establish a clearer
relationshipbetween ownership and efficiency.These come mainly from publicchoice theory and the
literature onprincipal and agents. Operationally,this reasoning says that private ownershipwill produce
superior efficiencyoutcomes because of five factors:
• Private ownership establishes amarket for managers, leading tohigher-quality management.
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• Capital markets subject privatelyowned firms to greater scrutiny anddiscipline than they do public
enterprises. Public enterprises often operate on Janos Kornai’s famous “soft budget constraint.” Because
of explicitor implicit guarantees from the state, public enterprisescan borrow capital at less-than-market
interestrates, and they often enjoy outright subsidiesand other concessions from the state (meaningthat
they don’t pay their taxes, their utility bills,their accounts payable to other public enterprises,customs
duties, or the like).
• Private firms are subject to exit much more oftenthan public enterprises. Private firms are moresubject
to bankruptcy, liquidation, hostile takeover,and closure than public corporations. Whenexit is a real
possibility, there is a greater likelihoodthat owners and managers will take active,efficiency-enhancing
measures to avoid it.
• Politicians interfere less in the affairs of privatethan public firms. Political interference is a majorcause
of efficiency-reducing conditions in publicenterprises; it manifests itself in overstaffing,
undercapitalization,inappropriate plant location,wrong use of inputs, and many other costly acts.
• Private firms are supervised by self-interestedboard members and shareholders, rather than
bydisinterested bureaucrats, and are thus more likelythan public firms to use capital efficiently and
tomaintain it.
Practical solutions
The problem with all five of these arguments is thatone can readily conceive of mechanisms to
correctthe perceived deficiency—without changing ownership.For example, if finding and rewarding
excellentmanagers is the issue, enterprises could recruitoutside the public sector, or even
internationally,and offer incentive packages equal to private sectorscales. If the soft budget constraint is
the problem,governments could eliminate all guarantees and stipulatethat public enterprises must turn
to commercialcapital markets and act, and be treated, like anyprivate sector borrower. If exit is the
constraint, governmentscould liquidate persistently poorly performingpublic enterprises. If political
interferenceis the difficulty, then the owner and the enterprisecould sign a performance contract
specifying themutual obligations and responsibilities of the principaland the agent; or the owner could
constitute andempower a new and more independent board ofdirectors and give it explicit instructions
to maximizecommercial profitability; or the owner could name apowerful and independent chief
executive officer,and give him or her a free hand. The fifth factor—better representation of the interests
of capital—ismore difficult to resolve without some change inownership, or at least some privatization
of management—through management contracts, leases, franchises,or concessions. But even here
performanceagreements and other mechanisms to create surrogatecapitalists are imaginable: for
example, establishinga holding company or companies andinstructing them to act like private owners, or
fragmentingownership among several different levels ofgovernment or state agencies and making them
dependenton the income generated by the enterprise.Both institutional approaches would
presumablydiminish the saliency of noncommercial objectives.
Tried and tested?
All of these theoretically applicable solutions haveindeed been tried, or are presently being tried,
around the world—with some highly positive responses.New Zealand’s “corporatization” efforts of the
mid-1980s achieved efficiency and financial gainsin ten of eleven enterprises studied by Duncan and
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Bollard in Corporatization and Privatization:Lessons from New Zealand.1 Korea’s performanceevaluation
system for twenty-six of its governmentinvested enterprises reduced, for a time, financiallosses to zero.
These financial gains were accompaniedby a declining ratio of costs to sales, indicating efficiency gains.
Korea’s reform program reliedheavily on a goal setting and review system—completewith rewards—and
a massive change in theboards of directors that reduced civil servant membershipto a small
minority.The most powerful recent empirical evidence to supportthe thesis that reform can work
without ownershipchange comes from China. There are now about1.3 million township and village
enterprises employing90 million people. They account for more than 20 percent of China’s industrial
production and are growing far more rapidly than the traditional state owned enterprise (SOE) sector.
Their financial and economic performance surpasses that of the traditional SOEs by two or even three
times. They are a stunning example of how positive performance can be achieved by firms that are not
privately owned— but that are made to act as if they were.
Added to these positive cases are the findings of a fairly extensive literature, most of it dating from the
early 1980s, which tried to measure public versus private performance. This was done basically on a
“with and without” basis; that is, comparisons were between roughly similar public and private
enterprises in operation. The conclusions reached were by no means unanimous, but more often than
not the literature suggested that, after correcting for market structure, there are no real differences
between public and private ownership. The policy implicationis that perceived deficiencies of public
enterprise performance can be corrected by changes in policy, incentives, and institutions, and that
ownership change is not necessary.
In light of all this, how can one still reasonably contend that ownership matters?
Why ownership matters
Probability
The first strand of the case is probabilistic in nature.While private firms do not always outperform public
enterprises, the evidence shows that they usuallydo. For example, over the years, the World Bank has
noted that rates of return on equity invested inindustrial or commercial public enterprises oftenare
about a third of those in the country’s industrialprivate sector. The overall contention is that thereare
two spectra of performance from good to bad—one for public enterprises, one for private firms.
There is a fair degree of overlap between the two.But the private sector performance spectrum extends
somewhat to the right of the public enterpriseperformance spectrum—and mean performance
forprivate enterprises is also somewhere to the right.That leaves a variance to explain—and ownership
isa strong candidate for a good part of the explanation.
Empirical work
The second strand of the argument is empirical. It isbased on several recent and rigorous studies that
have looked at firms before and after privatization.These recent studies show generally, and
impressively,improved performance after sale. A Journal ofFinance article2—by Megginson, Nash, and
van Randenborgh—compares the pre- and postprivatizationfinancial and operating performance of
sixty-onecompanies from eighteen countries in thirty-twoindustrial sectors. The study shows strong
post-saleperformance—increased real sales, greater profitability,increased investment spending,
improvements inoperating efficiency, and, most surprising, a slightincrease in work forces.
A second study, on the welfare consequences ofselling public enterprises,was conducted by theWorld
Bank in collaboration with Boston Universityeconomists. This study looked at pre- and post-
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saleperformance in profitability and productivity intwelve firms in four countries. It went on to
constructan elaborate counterfactual, to determine whatwould have happened had the enterprises not
beenprivatized. The authors then were able to say “hereis what was actually happening before sale,
here iswhat actually happened after the sale, here is whatwe reason would have happened under
continuedgovernment ownership.” In constructing this scenario,they did their best to isolate and
neutralize thegains and losses due to factors other than divestiture.They then subtracted the
hypothetical from thehistorical, and thus derived a measure of the gainsdue to ownership change. This
study quantifies thewelfare gains and losses of the various actors in theprocess; that is, the costs and
benefits to the sellinggovernments, purchasers—domestic and foreign—workers, consumers, and
competitors. The resultsare as follows: in eleven of twelve cases studied,there were positive welfare
effects for society becauseof the sale, and improved performance at thelevel of the firm.
Compromise and backsliding
The third and final strand of the argument for private ownership is political and organizational in
character. The idea is twofold. First, as noted, most governments find it difficult if not impossible to
apply the entire package of qualifying conditions that are essential for reforms short of ownership
change to work. The landscape, particularly in developing countries, and now in ex-socialist countries as
well, is littered with partial attempts to impose reform where the government owners hadn’t the will or
the fortitude or the knowledge or the capacity or the luck to impose the whole of the reform package—
and the results were minimal, modest, or nonexistent. There are innumerable examples in which
government owners kept prices for the products of supposedly reformed public enterprises too low to
cover costs, out of fear of the political consequences of price increases. Governments may shut off
direct budget flows to public enterprises, but few then go on to block concessionary transfers from the
banking system. Governments grant operational autonomy to managers, but not with regard to hiring
and firing, or plant location, or from whom to obtain inputs. Technically innocuous board of director
reforms have been halted in Kenya, Morocco, and elsewhere because board membership is a lucrative
core part of the patronage system. The list is endless, and the point is obvious: most governments have
noneconomic objectives for their public enterprise systems. While they want them to be profitable and
productive, they are most often unwilling or incapable of allowing these commercial aims to take clear
precedence over the noncommercial. Thus, their reform efforts tend to be partial.
Second, in the few cases in which governments do establish and maintain the precedence of commercial
over noncommercial aims, the results are, as we have seen in China, very good. But they tend not to last.
In most instances there is pronounced backsliding. The common story is that bad times make for good
policies—in crises governments do establish the precedence of commercial objectives, they do impose a
harder budget constraint, and they do give autonomy to public enterprise managers to achieve
commercial aims. But again and again, when the crisis fades, or when the regime changes, or when
some major political claim arises, commitment to the priority of commercial aims and to
noninterference in day-to-day management of the firm fades with it. Examples of backsliding include the
New Zealand Post Office, the Japanese National Railway, Pakistan public industrial enterprises, and
some of the Korean government invested enterprises.
Conclusion
Based on this reasoning and evidence, it is clear that ownership matters—that it is a significant
determinant of the profitability and productivity of an enterprise. Political and organizational factors are
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fundamental to the reason why. Ultimately, as Oliver Williamson is fond of saying, “politics trumps
economics.”
Question to think about
1. What do you think about the public enterprises in Nepal?
2. Should Government involve in business or work to improve the business environment?