Category: Economic

Currently, the USA is known for having two main political parties: the Republican Party and the Democratic Party. Still, they did not appear simultaneously. In the 19th century, democratic Americans started to emphasize the necessity of slavery abolition. However, they could not come to an agreement considering this point. On the basis of this issue, the Democratic South that was interested in the massive territorial expansion of the country due to economic considerations separated from the North. This paper will discuss these events in detail, emphasizing that the emergence of the Republican Party took place not only because of the conflict between the North and the South considering slavery abolition but due to the combination of different forces that existed in the middle of the 19th century. Social, political, and economic factors will be identified, and two ideologies will be compared.

The conflict between the North and the South started in the 1840s, as a tariff for revenue bill was lowered. Such alteration was advantageous for the South because it had a positive influence on their one-crop economy, but the representatives of the North considered that such change would have a negative influence on the USA manufacturing. Soon, social tensions became even more critical because the question of slavery expansion arose and the views of Northern Democrats and Whigs were opposed to those their southern cohorts had.

During the same decade, the government claimed that it was willing to reach new destinations across the continent. In fact, it even seemed to consider such development to be Americans mission to spread their democratic traditions. The victory over Mexico provided an opportunity to fulfill this goal but also made the conflict between the South and the North even worse. It turned into the major political issue of that time because of Mexican-American and the desire to make California a part of the Union (even though they already had good commercial relations) made the government question the possibility of making the states free.

A part of the countrys population also believed that the expansion of slavery to new territories along with democratic ideas could have advantageous influences on the economy, while others saw it as the main threat. As a result, a lot of political debates emerged. Some decisions regarding them were even discussed by the court.

Still, the creation of the Republican Party was not triggered only by these issues. In addition to them, the market revolution also fuelled the process. The North received an opportunity to unify because new railroads that connected its eastern and western parts started operating>. Those people who followed the ideas of Republicans received a chance to gather and develop their political interventions.

Increased immigration to the country was considered as a negative experience that prevents America from developing by some populations. Those people who revealed a strong sense of nativism created the Know-Nothing Party. Its views did not coincide with those the Democratic Party had, which led to conflicts. It would emphasize the necessity to have only native-born American politicians in the government. As this party fell apart, its disappointed representatives joined the Republicans.

The development of free labor ideology also turned out to be rather a beneficial alteration for the creation of a new party. It underlined Americans desire to abolish slavery. A part of the population supported this belief because the connection between the image of the country and free labor was established. Frederic Douglas wanted to avoid misunderstandings and tried to allow the states make a personal decision regarding this question. Such intervention led to Bleeding Kansas and turned out to be advantageous for Republicans, as Missourians would come to Kansas to vote for slavery.

Of course, the American presidents were also involved in this process. Douglas, who expected to be reelected, suddenly faced strong opposition from Lincoln while campaigning for a place in the Illinois senate. Lincoln underlined moral fervor of the issue and resorted to the Constitution to support his views, which had the positive influence on the peoples perceptions. Even though Douglas with his value of self-government and self-determination was reelected, Republicans obtained their auditorty. Finally, with the election of Lincoln as a President determined the road to secession, as the South would believe that its interests were not supported and its rights were not recognized.

All in all, it can be stated that Democrats wanted the government to let the states be free, while Republicans wanted to be supported. The Democratic Party paid more attention to agriculture, while the Republican one focused on manufacturing. Democrats were against slavery abolition, but Republicans were for it.

Thus, it can be concluded that the Republican Party emerged due to the development of different views considering slavery. It gathered the representatives of other political parties that fell apart at that time and turned into one of the leading parties in the country just in two years. The party believed that slavery should not spread to new territories even though it was not concerned about its total abolition. They thought that new territories could turn into the land of second chances for poor people.

Bibliography

Bates, Christopher. The Early Republic and Antebellum America. New York: Routledge, 2013.

Broadwater, Robert. Did Lincoln and the Republican Party Create the Civil War? Jefferson: McFarland, 2008.

Carnes, Mark. Historical Atlas of the United States. New York: Routledge, 2013.

Eual, Yonatan. The Young America Movement and the Transformation of the Democratic Party. New York: Cambridge University Press, 2007.

Foner, Eric. Give Me Liberty! An American History. New York: W. W. Norton & Company, 2013.

Guelzo, Allen. Lincoln and Douglas: The Debates that Defined America. New York: Simon and Schuster, 2010.

Paley, Carl. The Late, Not So Great, Republican Party. Pennsauken: BookBaby, 2014.

Wroe, Andrew. The Republican Party and Immigration Politics. New York: Springer, 2008.

Introduction

Lanis Hicks is the author of Economics of Health and Medical Care, the book about economics, various economic tools and methods that can be used in health care, and health policies that have to be taken into consideration. The book is divided into several parts with a number of chapters in each section. In this project, Chapter 14, titled Financing Health Care will be summarized and analyzed. At the beginning of the chapter, there are six main objectives set.

One of the tasks the author of the chapter offers is the identification and description of basic insurance terminology. In other words, it is necessary to clarify the main terms in order to use them properly. In health care, there are three main methods of financing that are out-of-pocket payments by consumers, insurance premiums, and taxation (Hicks 385). Each method has its own characteristics, types, impacts on different groups of people, and various costs. It is not enough to know the existence of such methods. It is more important to comprehend how to use the offered methods and what benefits or challenges to expect.

Importance of Financing Characteristics

The main characteristics of financing health care methods vary considerably including the sources of payment, the reasons for payment, etc. For example, such financing category as consumers out-of-pocket payments may contain plenty of techniques and approaches such as deductibles that may influence certain administrative costs, copayments that are applicable when certain health care services have fixed prices, and coinsurance that is used to pay the difference, full consumer payments, etc.

The impact of each financing method varies because of the different characteristics of people, who are involved in financing operations. Much attention is paid to income levels or family sizes. It is important to evaluate patients abilities to pay for health care services and establish the most appropriate for their opportunities. For example, taxes depend on peoples incomes and the choice of products.

People with different incomes cannot allow themselves to have the same level of taxes. Besides, people can analyze their working conditions to make sure who should pay for health care services. In some situations, the same financing methods may be paid in a variety of ways. For example, it is possible that patients themselves or their organizations could pay a patients insurance premiums any time they find it necessary. Hicks also underlines that some financing methods may be interrelated. So that insurance premiums may be partially excluded from taxation (Hicks 385).

Key Terms of the Chapter under Analysis

In this chapter, the author focuses on the terms that have to be properly understood by the reader. There are many insurance concepts that should be clarified before the evaluation of health care financing and health care costs occurs. The description of each term has its reason and an overall impact on the financing process. The following definitions are given:

A deductible

Is a fixed amount that should be paid by a person before a company starts paying for their health care services. It helps to eliminate the processing of claims that could be in a form of small amounts or significant amounts. If the deductible is high, it is possible to expect a few claims. Besides, the deductible is a great burden for people with low incomes because it turns out to be a huge percentage of total income (Hicks 386).

A copayment

Is a significant part of an insurance policy that represents a large portion of income. When a person visits a doctor, needs some prescription drugs, or asks for primary care, they have to consider this amount in addition to the payment offered by the insurer.

Coinsurance

Is the percentage of costs that is spent on medical services by the beneficiary and paid by the insurer as a kind of balance between what is spent by the patient and required by an organization. It helps to lower the price of the covered medical services in regard to the sum paid by the insurance company.

Stop-loss

Is a type of insurance that protects people against various unpredictable losses and reduces the possible risks connected with catastrophes that cannot be controlled or predicted by people.

Community rating

Is the method that covers all taxpayers and identifies the same payments for all people regardless of their family size, incomes, and the number of their addresses to hospitals and requests for health care. It means that there is a group of people, who use health care services frequently, and there is a group of people, who use the same services rarely. Still, both groups pay the same amount of money, and the first group of people gets more benefits in comparison to the second group of people.

Experience rating

Is the opposite of the community rating method. There are people, who have already used health care services and paid for them, and people, who use such insurance the first time. The result is the possibility to get different rates that depend on their experiences with the usage of medical services. This method helps to define low-risk groups of users so that they can pay low insurance amounts.

Financing Health Care in the United States

As soon as general terms are identified, and clear explanations are given, the author focuses on the health care of the United States, describes the mechanisms used by different insurance companies, and uses statistics to prove that the chosen topic is burning and interesting for discussions. For example, it is concluded that, in 2010, more than $2,500 trillion was spent on health care in the United States with about $300,0 billion financed by out-of-pocket payments by consumers (Hicks 388).

Besides, certain comparisons were given to explain how the American health care insurance system has been developed with time. For example, in 1965, only 24% of private health insurance occurred. In 2010, the percentage was about 33%. Employment-based insurance remains to be the main coverage for the majority of people. The author introduces the table with clearly identified sections and numbers to demonstrate the changes between 1965 and 2010.

A number of premiums are usually paid by employers. Such a decision is made to gain the required workplace benefits and to cover the changes connected with income taxes. Employees have to spend small amounts of money and, as a result, bear a certain share of such premium costs because of low direct wages (Hicks 388). Taxation is defined as one of the frequently used finance methods based on the Medicare program. Certain individuals, employees, and organizations pay different taxes in regard to their wages and experience. In America, $1.35 trillion of total health care financing was based on taxation.

Sources of Health Care Services Funding

In fact, the sources of health care services funding vary considerably and have been enlarged with time. In addition to the already mentioned funds such as out-of-pocket methods and private health insurance, there are such public funds as Medicare and Medicaid. There were absent in 1965. Still, nowadays, more than 20% (Medicare) and 10% (Medicaid) of health care insurance come from these organizations.

There is also a small portion of people, who rely on such funds as Veteran Affairs, General Assistance, Department of Defense, etc. Still, each financing method has its burdens that may be imposed on different groups of people. Therefore, the author suggests examining and analyzing various situations to comprehend the benefits and shortages of different financing methods in health care.

Alternative Payment Methods and Sources

In the chapter, the author also discusses several additional payment methods such as insurance premiums and taxation that are available to people and their impact on employees and companies owners. Insurance is available to people in two forms: first, they can purchase them independently, and second, they can get it through the workplace. It can be paid by employees, employers, and the combination of both. The system of insurance premiums is not complicated.

If employees are worth a certain amount of money, employers will be ready to pay the same amount of compensation that can be in a form of salaries or special benefits. In case the increase in benefits is observed, the employer has the right to reduce salary. In such a situation, the economic burden will fall on the employee directly or indirectly (Hicks 391). There are also mandated insurance benefits that can be used by individuals to cover their treatment using special laws and legal explanations of the possibilities of having free treatment.

Taxation is another alternative method of health care public funding. Taxes are usually regarded as income reductions without any benefits. Though some benefits could be observed in this financing method, they can hardly be observed directly and at the moment of payment or using services. As a rule, taxation could be direct (levied on income and cannot be shifted) and indirect (can be shifted). Payroll taxes and sales taxes as the main types of taxes that people should be aware of.

Payroll taxes are usually levied on wages that used to finance hospitals. A worker pays it. The peculiar feature of this tax is that it is equal for all people, who work. Sales taxes are levied on services or products that are offered to people (Hicks 397). They are defined as the main sources of revenue. There are three types of sales taxes: general, modified general, and specific. Taxes can also be regressive (low-income individuals are less dependent on their incomes in comparison to high-income individuals) and progressive (high-income individuals are less dependent on their incomes in comparison to low-income individuals). There are also neutral taxes when the same relative impact on all income cohorts (Hicks 399).

In general, in this chapter, Hicks explains that people should have enough amount of information in order to make the right choices and consider personal incomes to make reasonable payments. The evaluation of the financing system in the United States is an attempt to understand that the benefits of financing practices actually cover all costs and challenges of the process.

Works Cited

Hicks, Lanis. Economics of Health and Medical Care. Burlington: Jones & Bartlett Publishers, 2012. Print.

Executive Summary

Private health insurance industries play essential role in the healthcare system of America. Reflectively, one dollar out of every three dollars spent in 2011 on healthcare was paid to private insurers (Davies and Crombie 22). The Standard Industrial Classification (SIC) was created to establish a standardized system of classification for business organizations to aid in the comparison of statistical data used in describing various aspects of the United States economy.

Reflectively, the main objective of health economics is to promote better understanding of economic aspects of health care problems so that corrective health policies can be designed. Therefore, it is important to analyze fixed and variable costs in private health care insurance industry and how these determinants interact with demand in the market.

Among the general strategies adopted by players in this industry include developments of an inclusive stakeholder strategy, designing of competitive insurance packages, and diversification in terms of designing tailored products. This reflective treatise attempts to explicitly reflect on the Porters model founded on the premises that corporate plans should meet the opportunities and pressure in the organizations outside setting.

Among the discussed factors include threat of entry of new competitors, the bargaining power of buyers, and suppliers bargaining power. In addition, the influence of substitute products and stiff competition between industries are analysed in terms of how they affects profit margins. Specifically, the focus is on management strategies to counter competition as applied by the Grand Valley Health Plan (HMO) Michigan.

Health Economics-SIC and NAICS

Introduction

Private health insurance industries play essential role healthcare system in the U.S. today. Davies and Crombie note that one dollar out of every three dollars spent in 2008 on healthcare was paid to private insurers (Davies and Crombie 22). Moreover, several public insurance plans now rely on services of private insurers to help manage a significant share of spending (Davies and Crombie 32).

In spite of this important role, the private health insurance segment has gained relatively modest attention from researchers, mainly because of limited availability of data on insurance contracts. By studying health economics, Neun and Santerre argue that Health economics encompasses a broad range of theories, concepts, and topics thus it is difficult to precisely define (4).

Davies and Crombie define health economics as study of supply and demand of health care resources among a population (Davies and Crombie 12). They note that the study of health economics encompasses the application of a range of micro-economic tools which include demand, to health concerns and problems (Davies and Crombie 32).

Description

The key objective of health economics is to promote the better understanding of economic aspects of health care problems so that corrective health policies can be designed. To be able to tackle the problems mentioned Office of Management and Budget (OMB) in collaboration with other agencies created the North American Industry Classification System (NAICS), a classification system that substituted the Standard Industrial Classification (SIC) system.

Since 1993 efforts have been made to enable the transition from NAICS to SIC, and in 2001 NAICS was formally adopted. These efforts have materialised into reliable and relevant classification systems within the periphery of private health care insurance industry. The NAICS, OMB, and SIC are associated with progress in the development of health economics solutions through insurance premiums. Besides, these agencies are associated with the review of health policies across the United States of America.

History

Standard Industrial Classification (SIC) was established in 1938, and since then has been recently revised. The Standard Industrial Classification (SIC) was created to establish a standardized system of classification for business organizations, and in so doing to aid in the comparison of statistical data used in describing various aspects of the United States economy.

After a series of revisions to SIC, the Office of Management and Budget (OMB) in 1997 approved the adoption of North American Industry Classification System (NAICS) to substitute the Standard Industrial Classification (SIC) in the collection of industry statistics.

As a replacement to the Standard Industrial Classification (SIC), North American Industry Classification System (NAICS) were established in 1997. Like SIC the NAICS has been revised and updated. For example, a result of the North American Free Trade Agreement (NAFTA) the NAICS codes have been revised in 2002 and 2007, and NAICS now apply to Mexico, Canada, and the United States.

Experts argue that rationale for introducing NAICS codes to replace the SIC was to permit the inclusion of industry ratios and averages that could be compared between the three countries, and to incorporate newer industries not covered in the SIC codes, like, high tech industries, biotechnology, and services industries (Tolley 33).

Organization

NAICS and SIC and industry categories cannot be compared directly because the NAICS codes change has split some SIC categories. Previously, under the SIC groupings; there was no distinction of corporate headquarters from the service or product they produced. However, under NAICS codes there is the recognition of corporate headquarters in the Management Sector.

Manufacturing, for example, has been is reorganized to include high-technology industries. Moreover, NIACS offers a more detailed account on a company including an additional breakdown of services sector in SIC system into nine new sectors.

Government policies

Office of Management and Budget established the Economic Classification Policy Committee in 1992 to pursue a fresh slate examination of economic classifications for statistical purposes1. Since 1939 the U.S. has been using the Standard Industrial Classification (SIC) system.

While SIC had undergone periodic revisions, the last one in 1987, rapid changes in the U.S. and world economies brought SIC under increased scrutiny. In response to the need for a classification system that better reflected the dynamic nature of economies, OMB established the Economic Classification Policy Committee 2. Government agencies from the United States, Mexico and Canada3 were tasked with the development of a system that accounted for rapid changes in the U.S and world economies.

Industry Demands: Determinants of existing firms

Fixed costs

Irrespective of the dynamics in the private health insurance industry, fixed costs does not change over time. For instance, utility costs are characterised as fixed cost since the accrued value remains constant irrespective of any change in other cost in private health insurance industry. However, an upsurge in business utilities may transform the same to variable cost in that it may determine profit levels.

This is minimal and has no substantial contribution towards influencing the industry demands. For instance cost of maintaining the insurance firm in terms of bills and rent may not change and has no impact on performance of the firm. Thus, fixed costs are assumed to be constant, are experienced internally, and often budgeted for as component of daily operation.

Variable costs

Variable costs are very responsive to swings in business environment in health insurance industry. As a matter of fact, since these costs are not constant, a firm is likely to experience impact of change in business environment. For instance, when the business volume increases, variable costs also increase.

On the other hand, when business volume decreases, variable cost will respond in the same way and decrease proportionally. Variable costs have direct influence on private health insurance industry demands. Variable costs are also called the deductable and influence the choice between partial and complete coverage as controlled by expected gains on utility.

For instance, an increase in the premium rates may negatively affect demand for private health care insurance since some customer may shy away from one insurance firm in favour of another. In the event of this scenario, demand will decrease. Examples of variable costs in private health insurance industry include expansionary cost, cost of preferring one product over another, and inventory.

Current changes

In the last decade, private health insurance industry has undergone series of changes in line with the American health care reforms agenda. Under the new arrangement, the private health care insurance industry must seek approval from the government and justify charges before clearance (Neun and Santerre 122).

As the cost of living increases, insurance industries offering private health cover have been forced to reduce their premium and embrace bottle neck competition from the government sponsored insurance cover for the citizens of America. In response, most of private healthcare insurance industries have opted for product tailoring and customisation as a remedy for survival. Unlike before, this industry now offers packages such as compensation against incurable diseases such as HIV/AIDS, cancer, and other viral infection to their clients.

Shape of curves

The above curve represents the relationship between price and quantity demanded in the long run. The as price for a product decreases, the quantity offered will also decrease. In the long run, an increase in price will respond positively with an increase in quantity of packages offered by private health insurance companies.

Key:

• AFC  Average Fixed Cost
• AVC  Average Variable Cost
• MC  Marginal Cost
• ATC  Average Total Cost

Among the components of marginal cost curve include the short run and long run curves which directly influence productivity and performance at ceteris peribus. As indicated in the above curve, production inputs changes up to a point of diminishing returns. At this point, market is exhausted. Further introduction of more products will not change returns. This means that economies and diseconomies of scale are exhausted. In relation to private health care insurgency industry, economies of scale margin are noted in the declining long-run average total cost curve. On the other hand, diseconomies of scale trigger the long-run average total cost curve to rise.

Analysis of Competitive Forces as applied in the Grand Valley Health Plan (HMO) Michigan

In 1980, Michael Porter in his book, Competitive Strategy: Techniques for Analyzing Industries and Competitor, identified a five competitive forces model for strategic analysis of an organizations industry structure and processes. Porters model is the founded on the premises that corporate plans should meet the opportunities and pressure in the organizations outside setting. In particularly, competitive strategy should understand the organization structures and their dynamism.

These forces according to Porter show the levels intense competition between industries and therefore, determine the productivity and charm of an industry. As a result, the corporate objective should be to adjust the driving forces in such a way that they improve the situation of the organization same as in the case of HMO which opted for diversification, introduction of competitive price mechanism, streamlining operations, and managing inventory.

Threat of entry of new competitors

Porter argues that competition, especially when stiff, is directly related to performance of a product or service in the demand market. When such phenomena occur, the new entrants have the capability to change key market determinants such as market prices, market share and customer loyalty.

Moreover, the threat caused by new entrants is subject to the barriers to entry in the business. For example, the insurance industry in the U.S. have laid down requirements for any company that intends to run an insurance firm; there is a minimum amount of money that must be deposited in the central bank.

For example, all states require insurers to be financially solvent and capable of paying claims. States also require prompt payment of claims and other fair claims handling practices. These high initial capital requirements have inhibited the numbers of new entries recorded over the decades as HMO remains established and profitable (Neun and Santerre 178).

Intensity of rivalry

Intensity of rivalry is applied by Porter to describe the levels of competition amongst existing industry players. Economically, whenever there is competition between industries pressure is often than not directed in to prices of goods and services. Thus, stiff competition between industries affects profit margins for every single company in that industry.

Porter states that competition between industries is greater when the existing industries have same strategies, there is less product diversification and when the industries are almost the same size. In the US on the contrary, apart from product differentiation by the private insurance companies have, the companies operate at very different levels in terms of economy of scales (Normand and McPake 78).

Competition generally determines the profit margin. Therefore, established companies may be in a better position to compete those weak firms. As a result, this aspect has a very strong influence on survival and performance of firms in this industry such as HMO since it has integrated the ability to survive and thrive amidst competition through tailoring of its family health insurance package.

Pressure from substitute products

Substitute products cause threats in an industry when alternative goods and services are available in the market and offer better prices and performance. Such substitute products are likely to capture a large portion of the market thus reducing the sales volume of each existing industry. The US private insurers provide a variety of insurance policies that suits an individuals income and needs.

As a matter of fact, these substitutes are spread across the market and may not necessarily satisfy demands of different customer. Though the number of substitutes may be substantial, many players may want to incorporate them in the bracket. Thus, volume of sales realised will be relatively lower as these players outdo one another through modification. However, HMOs products are unique products that fit different classes of clients from high end to low end income brackets.

Bargaining power of buyers

In addition, the bargaining power of buyers determines how much buyers can enforce pressure on market margins and volumes. The bargaining power of buyers of policies is high when the industry comprises great numbers of small and medium term operators and when buyers purchase large in volumes.

Most policy buyers in health insurance have the opportunity to buy policies from numerous insurance firms that increasing their bargaining power. However, if with this bargaining power, there are federal laws that guide the insurance industry on the amount of premiums to charge (Neun and Santerre 158). These federal laws control and regulate the types of premium which makes it into the market.

On the measurement scale, this aspect can be classified as having a strong influence since bargaining power of the buyer influence quantity of sales and overall returns. Behaviour of utilities is determined by the responsiveness of buyers and their purchasing power to purchase services offered by private healthcare insurance companies. In the last decade, HMO has managed to maintain position four due to its integrated pricing model that is friendly to clients.

Bargaining power of suppliers

Finally, Porter coined the concept of suppliers bargaining power to denote the ability of all those involved in the provision that particular service to influence the terms and conditions of policies in their favour. The private insurance companies without government regulations would want to sell their policies at the maximum possible prices (Davies and Crombie 43).

However, government regulation controls their activities and evaluates their policy before introduction into the market. Thus, government control, through regulatory authority, often influences overall impact of policies floated by players in this industry. As a matter of fact, this aspect has moderate effect on demand in HMO which often uses in house supply chains and outsources the most cost effective suppliers such as the Virginia Medicare.

Conclusion

Conclusively, competition is a major factor that influences operation and organization of private health care insurance industry. As a matter of fact, the aspect of historical review displays series of changes that has gripped this industry and threat of high living standards making some of their client opt for public healthcare insurance.

Fixed and variable costs in private health care are determinants of demand in the market. Variable costs change as the demand in the market change. However, fixed costs are assumed to remain constant irrespective of market swings since they are covered in the budget and are predictable.

Threat of entry of new competitors contributed minimal challenge to player in this industry as compared to the bargaining power of buyers which determines how much buyers can enforce pressure on market margins and volumes. Besides, suppliers bargaining power denotes the ability of all those involved in the provision that particular service to influence the terms and conditions of policies in their favour. This aspect presents a moderate challenge to player in this industry since they are easily replicable.

Substitute products cause threats in an industry when alternative goods and services are available in the market and offer better prices and performance. Generally, stiff competition between industries affects profit margins for every single company in this industry. Reflectively, the above aspects control survival and profitability of firms in this industry since they influence positioning and maintaining a market niche.

Works Cited

Davies, How, and Crombie Ian. What are confidence intervals and p-values? London: Hayward Medical Communications, 2009. Print.

Neun, Stephen, and Santerre Rexford. Health Economics: Theories, Insights, and Industry Studies. 5th ed. 2009. Alabama: Cengage Learning. Print.

Normand, Charles, and McPake Barbara. Health economics: an international. 2nd ed. 2008. New York: Taylor & Francis. Print.

Tolley Keith. What are health utilities? London: Hayward Medical Communications 2009. Print.

Abstract

Advocacy for the development of affordable medical cover is fundamental in the advancement of the populations health. Populations especially those, who hail from underprivileged and middle incomes, choose a medical cover using economic factors like opportunity cost and willingness to purchase. By advocating for the creation of the affordable medical cover, there has been a rise in the number of people from less privileged communities, who have purchased and consumed a wide range of medical services provided by the state.

A good and affordable medical cover is fundamental in the overall health of citizens living in a particular country. Advocacy for affordable medical cover is the health care decision that I made. The healthcare decision transpired because several individuals in less privileged regions of the world suffer from expensive medical services (Ballentine, 2011). Over time, I have witnessed individuals, who suffer from ailments but instead of visiting medical centers for treatment, opt for OTCs over-the-counter medication from chemists. Getzen (2013) highlights that there are numerous cases of people, who develop complications after consuming OTCs. From the observation, I decided to advocate for the creation of a medical cover that is affordable to the less privileged communities.

Opportunity cost and willingness to purchase comprise the two economic factors or economic principles that influenced my decision to advocate for affordable medical cover. In my observation, I realized that several people, who hail from underprivileged communities, could not afford the various medical covers that the health care sector provides. McCaughey and Bruning (2010) explain that while the cover provided by the health sector may look like it is affordable, people from underprivileged communities forego the cover, and purchase services deemed to be more important. As such, they are unwilling to purchase and consume the services envisaged by the medical cover. For instance, in several parts of the United States, underprivileged communities use their little income to purchase food, clothing, and shelter and forego the medical cover provided by the state (Brannon, & Feist, 2010). The situation compounds because a large number of people in less fortunate communities are not in formal employment that provides a medical cover.

One way that my health care decision has had an impact on the public health is the increased scale of initiatives that champion for creation of affordable medical cover. The impact on public health is a rise in the number of people, who have purchased and utilized the affordable medical cover provided by the state. Although the increase is not at its optimum level, it is encouraging. Therefore, increased numbers of people, who are purchasing medical cover, comprise some of the impacts associated with my healthcare decision. Increased initiatives that focus on development of an affordable medical cover is also among the benefits that my health care decision has accrued to the public health sector.

My health care decision to advocate for affordable health care that is within the reach of middle-income earners and less privileged in the community is one that has been fruitful. The fact that an increasing number of people are starting to purchase the medical cover is one of the impacts that the healthcare decision has accrued in the sector of public health. It is notable to assert that although the range of medical cover present is encouraging, the health care sector needs to do more in order to advance the overall health of the population.

References

Ballentine, J. (2011). Your Right to Make Healthcare Decisions. Colorado: Colorado Hospital Association.

Brannon, L., & Feist, J. (2010). Health Psychology: An Introduction to Behavior and Health. Sydney: Cengage Learning.

Getzen, T. (2013). Health Economics and Financing. Hoboken: John Wiley & Sons.

McCaughey, D., & Bruning, N. (2010). Rationality Vs Reality: The Challenge of Evidence-Based Decision Making for Health Policy. Implementation Science, 5(39), 1-13.

Introduction

The health sector is essential in every country, and governments should ensure that individuals can access quality patient care with ease. America is one of the countries that have primarily focused on developing healthcare facilities. For instance, the introduction of Obamacare was designed to guarantee that people can access healthcare services in the community. The Affordable Care Act was also implemented to enable all people to have easy access to hospitals and receive quality services. Although various aspects can be analyzed regarding the Affordable Care Act, one can focus on whether it aligns with the four economic objectives. Additionally, individuals can determine the approaches they would keep or do differently to better balance patient care and financials.

How the Affordable Care Act Aligns with the Four Economic Objectives

One of the economic objectives is equality, whereby all people are given equal opportunities in the community. Thus, the Affordable Care Act is crucial as it aligns with this aim. The policy guarantees that all people can access healthcare services irrespective of their race, originality, and ethnicity. For instance, many people have faced racial-based discrimination in health facilities. Additionally, some patients have claimed that they have received poor services in various hospitals. Consequently, the Affordable Care Act plays a significant role in ensuring that such issues are curbed, and equality is achieved.

Price stability is another essential economic objective that can be considered when focusing on the Affordable Care Act. Many people do not have adequate money to buy medications and pay for their healthcare services (Amadeo, 2021). Moreover, some medical treatments are expensive, and not many patients can afford them. Consequently, the introduction of Obamacare has enabled people to improve their health as it slows the rise of healthcare costs (Amadeo, 2021). Many individuals have received their health insurance, and preventive care has also been made accessible. Therefore, people can receive treatment before their illnesses worsen and prevent the need for expensive emergency room services.

A high but sustainable rate of economic growth is a financial objective that can be achieved if the community is healthy. Thus, the Affordable Care Act can be aligned with this aim since it focuses on improving individuals health. Typically, when people are healthy, they largely contribute to activities that lead to economic growth. Moreover, individuals can work in different organizations and sectors, leading to their development and limiting societys financial crises. Thus, many people can access quality healthcare and become active community members due to the Affordable Care Act.

Full employment is an economic objective that helps the government focus on creating more job opportunities. This aim can be linked to healthcare as to be productive in their work fields, people have to be healthy. Therefore, the Affordable Care Act is aligned with this objective as it helps individuals improve their health and seek various job opportunities. Full employment is also a vital factor that leads to the development of communities. Consequently, the Affordable Care Act is essential since it has led to improved health, enabling people to seek job opportunities in various organizations and contribute to the countrys development.

Approaches to Improve Balance Between Patient Care and Financials

Insuring people is an effective approach I would keep since it helps patients access healthcare services easily. People who are not insured have experienced challenges when seeking medical assistance. Moreover, some people lack funds to obtain their insurances (Courtemanche et al., 2018). Thus, guaranteeing that people can acquire the insurances with ease is an essential strategy that can significantly improve many peoples health. Limiting discrimination in the healthcare sector is another primary approach I would use to ensure that all people acquire quality medical care. In some cases, groups of people are discriminated against when seeking healthcare services. For instance, people with disabilities have experienced challenges in hospitals, whereby some healthcare practitioners have failed to treat them.

Racial-based discrimination is also experienced in healthcare facilities, and many black Americans have argued that they have been discriminated against in medical settings. Thus, policies to curb such issues can be introduced to ensure that all people obtain quality patient care irrespective of their race. Lowering the prices of some services and healthcare products is another vital strategy that can be introduced to enable people from low socioeconomic families to access healthcare services with ease (Courtemanche et al., 2018). Another approach would involve confirming that more healthcare facilities are built in rural areas. Improving rural health will also help in limiting deaths experienced in these areas due to the lack of treatment.

Conclusion

To conclude, good health is essential to all people in the community. Thus, the Affordable Care Act has been of great significance since it has improved many peoples health. Individuals have obtained quality health care since they are insured. Moreover, equality has been encouraged, whereby people from different races, religions, and origins have accessed healthcare facilities with ease. The Affordable Care Act has contributed to economic growth as it has led to a healthy and active society. Therefore, I believe that people should recognize and appreciate the various advantages of the policy.

References

Amadeo, K. (2021). Pros and cons of Obamacare. The Balance. Web.

Courtemanche, C., Marton, J., Ukert, B., Yelowitz, A., & Zapata, D. (2018). Effects of the Affordable Care Act on health care access and self-assessed health after three years. The Journal of Health Care Organization, Provision, and Financing, 55(1). 1-10. Web.

Nursing organizations require funding to support important roles relating to the dissemination of information on appropriate healthcare practices and safeguarding the welfare of nursing professionals by promoting policies to support education and training. The essay analyzes the economic structure of the International Council of Nurses (ICN), the National Association of Pediatric Nurse Practitioners (NAPNAP), and the American Association of Neuroscience Nurses (AANN).

The International Council of Nurses (ICN) supports its operations using funding from member associations, foundations, and project grants from partners and supporting bodies. The International Council of Nurses Foundation (ICNF) supports charitable purposes, which encourage individuals and organizations to donate to the sustenance of ICNs operations. External funding and support are crucial to the implementation of the diverse projects by ICN. The funding helps to minimize challenges relating to the management of the organizations core budget considering that ICN operates as a non-profit making entity (Blais & Hayes, 2010). ICN does not offer individual membership, which means that the organization cannot increase its funding through membership subscriptions. The diversity of projects under the ICN umbrella demands the input of relevant organizations and sectors to help extend the ICNs capacity to implement and accomplish various initiatives in alignment with the Millennium Development Goals (MDGs). Although ICN does not describe its status and framework as a profit-generating organization in its mission statement, company overview, or description, the organization operates as an NGO, which means that the objective for ICNs formation and operation is not conventional profit generation (Drucker, 2012). The nature of membership of some of ICNs member organizations highlights the balance of representation of practicing nurses and managerial entities. An analysis of ICNs membership highlights the organizations accommodation of financially challenged members, which would likely not be the case for a profit-making entity because the underfunded members would introduce financial constraints on the organizations ability to manage its operations.

Response 1

NAPNAP gets funding by forming partnerships with entities such as the State Division of Healthcare Financing and the Bureau of Milwaukee Child Welfare, which facilitate the pooling of funds to provide a flexible and sufficient source of funding. The organization indirectly sources funds by influencing legislation relating to maternal and child health care programs, which are core elements in its scope of operations. For example, NAPNAP lobbied for an eight percent increase in the national budgetary allocations on nursing programs during the 1998 fiscal year (Cashin & Cook, 2011). The organization lobbied for the enactment of a federal childcare bill, which designated entitlements for childcare at the state and local levels. Apart from legislation and partnerships, NAPNAP obtains funding from fees on different membership subscription packages. NAPNAP Foundation sources donations to improve the welfare of children and their families (Kjervik & Brous, 2010).

Response 2

AANN is a non-profit making organization whose economic structure highlights the organizations dependence on funding from the government, supporting bodies, and corporate partnership programs such as AANN membership. The organization has collaborated with entities such as ANA, ASA, NNF, and WFNN, which help in lobbying for the enactment of policies and proposals to increase the number of funds that government ministries allocate to the organization (Hickey, 2011). AANN accepts donations through the Neuroscience Nursing Foundation (NNF), which focuses on the sourcing of funds for supporting neuroscience nursing. The funds help to sustain educational grants and support research in the field of neuroscience (Nursing: scope and standards of practice, 2010).

References

Blais, K., & Hayes, J. (2010). Professional nursing practice: concepts and perspectives. Upper Saddle River, N.J.: Prentice Hall.

Cashin, A., & Cook, R. (2011). Evidence-based practice in nursing informatics concepts and applications. Hershey, PA: Medical Information Science Reference.

Drucker, P. (2012). Managing the Non-Profit Organization. New York: Routledge. Hickey, J. V. (2011). The clinical practice of neurological and neurosurgical nursing. Philadelphia, PA: Lippincott Williams & Wilkins.

Kjervik, D. K., & Brous, E. A. (2010). Law and ethics for advanced practice nursing. New York: Springer.

Nursing: scope and standards of practice. (2010). Silver Spring: American Nurses Association.

A multiplicity of environmental problems and challenges now affect our entire world, and the problems are becoming increasingly serious to warrant international concern.

Today, more than ever before, environmental challenges such as acid rain, air pollution, hazardous solid waste, destruction of natural ecosystems, water pollution, and overpopulation, among others, continue to affect societies, particularly in countries with inadequate or inefficient policies and frameworks geared towards environmental management (Thomas-Hope, 1998). This paper purposes to evaluate some of the persistent environmental problems in China and how the country is dealing with the issues.

For decades now, China has been struggling with the problems of habitat and biodiversity loss and air pollution, and analysts are quick to point out that these environmental challenges largely emanate from yet another environmental concern known as overpopulation (WWF, n.d.). China is the most populous nation in the world, with one-fifth of the global population residing in the country.

The countrys population impact is clearly evident not only in China, but across national boarders as the demands of the huge Chinese market pose serious threats to biodiversity and air pollution as far away as Africa. In china, ill-planned hydrological engineering projects and conversion of wetlands for agriculture intended to feed the huge population have caused untold destruction on the countrys habitat and ecosystems, in the process driving species such as the revered pandas out of their natural homes (WWF, n.d.).

Natural forests continue to be cleared for food production, timber and fuel-wood, further aggravating the situation. The high demand for automobiles to serve the high Chinese population in addition to the indiscriminate opening of factories that depend entirely on coal have been noted as some of the major causes of air pollution in the country.

The problem of air pollution can be scientifically validated by evidence that respiratory and heart diseases related to air pollution are the foremost cause of mortality in China (WWF, n.d.). In addition, air pollution costs the Chinese economy in excess of 10 percent of its GDP annually. Of all the species documented by the Convention on International Trade in Endangered Species (CITES) as fundamentally endangered, just about a quarter are found in China, demonstrating scientific evidence of the implications of habitat and biodiversity loss.

In terms of correctional measures, the Chinese government has been closing down many of the polluting factories and giving incentives to industries that are cleaner (Sasso, 2007). This is aimed at lessening air pollution while laying the focus on economic expansion to meet the ever increasing demand. China is also increasingly relying on nuclear-generated energy to reduce emissions coming from coal-operated industries.

In habitat and biodiversity loss, the Chinese government is allocating more resources towards the protection of endangered species and in efforts aimed at reconstituting the natural ecosystem through reforestation practices (Gallagher, 2006). China is also imposing stiffer penalties on illegal wildlife hunters and poachers.

It is important to note that stakeholders have been faced with challenges in their attempts to implement these policies and laws aimed at curtailing the discussed environmental problems. Particularly, China has been faced with challenges in its attempts to control air pollution largely due to conflicting goals between its development agenda and environmental conservation (Gallagher, 2006).

The large population demands a sustained expansion of the economy to meet its needs, but this expansion has to a large extent caused air pollution. In addition, some industries continue to utilize loopholes contained in the policies and laws to continue polluting the environment through massive emissions.

It is also costly to build nuclear plants that will fulfill and sustain Chinas energy needs, not mentioning that some industries want to generate more revenues by using cheaper sources of energy, such as coal, which ends up polluting the environment. Lastly, the government has been blamed for laxity in implementing policies and laws that will nip the problem of air pollution in the bud before it brings the country down to its knees.

In habitat and diversity loss, challenges have emanated from cross-boarder poaching and ignorant destruction of the natural habitat by the local populations, who seem unenthusiastic to conserve the environment for future generations (Gallagher, 2006). Still, many analysts especially in the tourism industry feel the government is not doing enough to protect the endangered species from further destruction.

There are some recommendations that China could adopt to curtail the environmental problems discussed in this paper. In terms of air pollution, the government should design a policy aimed at making the various industries accountable for their pollution behaviors.

Such a policy would entail imposing an economic cost on factories based on the amount of hazardous emissions released into the environment (Gallagher, 2006). Such a policy will not only work to discourage the industries from releasing emissions into the environment, but will serve as an incentive to embrace newer and safer methods of generating energy.

In addition, the money received from the polluting factories could be used to cater for the health needs of people who continue to suffer various ailments as a direct consequence of the air pollution. In terms of habitat and biodiversity loss, education, awareness, and involvement of the locals is needed to curtail further loss. As already mentioned, many locals engage in habitat destruction due to sheer ignorance and lack of adequate knowledge (Gallagher, 2006).

When the information is availed, it will assist them realize the importance of coexisting with other species and discourage further poaching of endangered species. Involving the locals in habitat management and sharing in the accrued benefits will provide them with a platform to protect the resources as a source of economic wellbeing, thus curtail urges for further destruction.

Reference List

Gallagher, K.S. (2006). China shifts gear: Automakers, oil, pollution, and development. Cambridge, MA: Massachusetts Institute of Technology.

Sasso, M. (2007). China says its cleaning up products, pollution. Web.

Thomas-Hope, E. (1998). Solid waste management: Critical issues for developing countries. Kingston: Canoe Press.

World Wildlife Fund. (n.d.). Environmental problems in China. Web.

Introduction

The distribution of worlds natural resources is not even among countries. As such, there are areas of the world that are rich in natural resources while other regions have few or none at all (Burke, 2010). For this reason, interdependence among countries on the available resources is inevitable. There is need, thus for all countries to conserve their natural resources and to ensure that they use them in the best way possible (Conrad, 2000).

This explains why environmental and natural resource economics is important in any country since this subject offers more insight on the earths natural resources, their allocation, demand, as well as supply (Dukert, 2009). Natural resource in this context, refers to any material that is a source of wealth, found in its natural state, as well as exhibits some economic value. The subject of environmental and natural resource economics is important in that it provides an understanding of the significance of natural resources in any country, and largely their contribution to the economic growth of any country (Groombridge & Jenkins, 2002).

With such knowledge, countries can be in a position to work out sustainable, as well as sustainable methods that they can adopt in order to effectively manage their natural resources (Gustafson, 2007). This paper provides an analysis of the environmental and natural resources of China, United States of America, Australia and Japan. This analysis will help in providing an insight on the prevailing energy supply discourse as well as an overview of how the supply of energy has changed with time.

Data selected description

In this report, the primary concern for the energy supply mix was on data about energy consumption in the industry, as well as in the transport sector. Energy has been cited as one of the most important part of the economic systems of the world since it affects all people. In addition, energy is used, as well by other living organisms, including the plants, apart from the human beings. However, energy can come from a number of sources such as natural gas, oil, and biomass as well as solar. The data below is an analysis of the energy mix of Australia, China, Japan and the United States of America (Harris & Roach, 2013).

Reason for data selection

Data on consumption of energy in industry and transport sector was chosen based on the fact that the two sectors are very important in any country. As such, it was chosen because the approach of the data on these two areas would give a clear picture on the energy supply mix of the chosen countries.

Consumption of Energy by country

Australia

• The following data show consumption of energy in Australia in 1990

Industry

The graph below shows the total industrial consumption of Australias energy by source, in 1990

Transports

The graph below shows the total consumption of Australias energy in the transport sector by source, in 1990

• TPES data for Australia in 2010

Industry

The graph below shows energy supply mix in the industry sector of Australia in 2010

Transport

The graph below shows energy supply mix in the transport sector of Australia in 2010

Non-energy

• Energy consumption in China

Industry

The graph below shows energy supply mix in the industry sector of China in 1990

Transport

The graph below shows energy supply mix in the transport sector of China in 1990

• Energy consumption in Japan

Industry

The graph below shows energy supply mix in the industry sector of China in 1990

Transport

• Data: 2010

Industry

Transport

The graph below shows energy supply mix in the transport sector of Japan in 2010

• Energy consumption in USA

• 1990

Industry

From the above it can be seen that the amount of energy consumed in US for the year 1990, came from different sources with natural gas contributing the highest share.

Transport

The graph below shows the amount of energy that is consumed in the USs transport sector in 1990.

The consumption of energy in the United States of America was high especially from natural gases, and oil products (Krutilla & Reuveny, 2004). Following variations of climate in the United States of America led to the change in the amount of energy consumed between 1990 and 2010. Such changes were noted following the overreliance of US on energy from both renewable and non-renewable sources of energy.

• 2010

Industry

The graph below shows energy supply mix in the industry sector of US in 2010

Transport

The graph below shows energy supply mix in the industry sector of US in 2010

Comparison of IEA data with fig 12.1 b given

The data obtained from the IEA seems to be consistent with the data on the energy consumption in US, obtained from the Energy Information Administration. The similarity appears in the amount of energy consumed by source. For example, both sources indicate that much of the energy consumed in the United States of America came from oil followed by natural gas. In addition, the two sources indicate that wind, solar and geothermal had the least contribution in terms of energy consumption in USA.

Energy Supply Mix

Evolution of energy

All the energy used all over the world comes from either natural or human-made resources. However, most of the energy comes from natural resources. The natural resources are divided into renewable and non-renewable resources. Renewable resources refer to the natural resources whose source can be replenished. The non-renewable resources, on the other hand, include the natural resources that can never be replenished after getting exhausted.

Examples of non-renewable resources include natural gas, oil, coal, non-metal minerals and metal minerals (Hanrahan, 2008). A review of natural resources indicates that energy is one of the most dependable resources all over the world (Sakaguchi, 2010). Even though only a small percentage of energy resources contribute to the gross domestic product any country, most of the major inputs of a countrys gross domestic product are depended on energy (Liu & Ang, 2007). Considering the countries that are yet to develop such dependence is highly pronounced.

As seen from the course material, the supply of energy resources is different with respect to the different type of supply. The economic and physicals supplies of non-renewable resources are different. For example, the physical supply can be described as finite while the economic supply is depended on factors such as exploration technology and economic incentives.

Four Stages of Non-renewable resources

Non-renewable resources have continued to play a significant role in the energy supply mix all over the world. With their impact in the supply of energy, the non-renewable resources follow fours stages in their process of exploitation. The first stage involves an abundant supply of high quality resources. In this stage, there are signs of technology improvement, as well as exploration expansion. It follows that the prices will tend to decline with the increase in rapid extraction.

The second stage is characterized by stable prices following a balance between technological development and further discovery. The third stage shows that the availability of limited resources makes demand to be high, prices increase resulting to change of sub-economic reserves to economic. During this stage, the advancement in technology does not meet the witnessed scarcity of resources.

The fourth stage features the depletion of reserves. Demand reduces as a result of prices rising to the choke level.

Energy has thus found many applications all over the world. However, it is important, as pointed out in the course material to be able to differentiate the various systems that are involved in the evolution of energy. For example, there is a difference between ecological and economic systems. In all of these two systems, energy is used in supporting, as well as expanding lifes functions. As such, according to the standard economic theory, there can be substitutability between energy resources given that capital, labour, as well as natural resources exploitation is depended on energy. Thus it is evident that the benefit-cost analysis within the energy sector can be used to determine and carry out an assessment of any proposed projects in the energy supply mix. In analyzing the energy supply mix, using the benefit-cost analysis, consideration of the environmental factors is important since they play a major role in determining the amount of renewable and non-renewable resources available in any country.

Energy Distribution

The need for people to take calories is basically a bodys demand for energy. In the traditional aspect of agriculture, solar energy is very useful as a source of energy.

The energy needs in any country increase with an increase in the development and complexity of economies within the concerned country (Smith, 2004). Looking at the past, it is evident that the supplies of energy from biomass and firewood were not sufficient as sources of energy (Timilsina, 2013). This was attributable to the fact that the world was experiencing a growth in its economies (Thanh, 1977). For this reason, many people preferred other sources of energy such as hydropower. Nevertheless, hydropower was still not sufficient and gave way to coal, oil and then natural gas. As economies grew and developed, the use of nuclear power became a part of the energy mix.

Looking at the statistics in energy distribution and consumption, it is evident that the rate of consumption has increased from 1990 to 2010 for China, US, Japan and Australia. This can be attributed to the growing population in the world and the need to meet technological and economic development. In china, there has been an increased growth the amount of energy consumed especially considering that Chinas transport sector is taking most of the oil from imports. For the case of the US, its high consumption of oil has pushed the country to start producing oil, in spite of its high dependence on imports. However, as seen from the data, the consumption of energy within the USs transport has decreased following the enactment of fuel-efficiency regulations.

As such, the use of natural gas, biomass, and oil have been found to increase from 1990 to 2010.

The primary objective of this report was to analyze the energy mix of United States of America, Australia, Japan and China. Such an analysis was important in that it offers insight on the assessment of the possibility that the prevailing energy mix is suitable for the current situation, as well as the chances that there are for the situation to change in the near future. However, the main concern should be on the methods that can be applied in the evaluation of the different energy sources. Following the allocations in the tables and pie charts above, it is evident that several criteria were used in evaluating the various sources of energy listed above for different countries.

Some of the characteristics considered include price, availability, environmental impacts, net energy, and suitability. The price of the given source of energy is one of the significant factors to consider. The variability of the price as well as the average price of the given energy source are key determinants in this case. For this reason, the overreliance on fossils fuels for any country is highly determined by the price considerations. In addition, the availability of fossil fuels determines the possibility of a particular type of fuel being used.

Generally, the supply of fossil fuels is limited and this explains where they are not so common in US, China, Japan and Australia s noted from the pie charts above. Even though renewable sources do not get exhausted, there are other factors that many affect the productivity and availability of some fuels. For example, daily and seasonal fluctuation of weather may affect the reliability of solar as a source of energy. Such variation of weather is responsible for the difference in the use of some of the renewable sources such as solar, which depend on various weather conditions.

Different sources of energy have different impacts on the environment. As a result there are different environmental impacts that are not allowed in different countries (Timilsina, 2013). For this reason, some sources of energy may not be used in certain countries due to their environmental impacts. For example, the mining of coal, its burning can lead to environmental pollution. In addition, the disposal of unwanted parts of the coal plant, as well as the decommissioning of the factory dealing with production of coal may have negative impacts on the environment.

There are several applications for various types of sources of energy. For this reason, it is evident as showed in the charts above that the usefulness of particular sources of energy may vary with regions and applications. For instance oil finds its suitability in the production of power for motor vehicles, while other sources such as the nuclear power are suitable in the generation of electricity (Tower, 1990). Geothermal energy on the other hand, is useful in heating buildings.

From the above, it suffices that different countries have different sources of energy. As showed from the data and the charts the source of energy can be attributed to a number of features such as its suitability, availability, price as well as the impacts that the source of energy has on the environment. However, it the report found out that even though, countries rely on their available sources of energy, and some tends to seek reliable sources from other countries through imports.

Reference List

Batabyal, A. (2011). Research tools in natural resource and environmental economics. Hackensack, N.J.: World Scientific.

Burke, P. (2010). Income, resources, and electricity mix. Energy Economics, 32 (3), 616-626.

Conrad, J. (2000). Resource economics. Cambridge, UK: Cambridge University Press.

Dukert, J. (2009). Energy. Westport, Conn.: Greenwood Press.

Groombridge, B., & Jenkins, M. (2002). World atlas of biodiversity. Berkeley, Calif.: University of California Press.

Gustafson, G. (2007). Energy conservation and pomeron loops in high energy evolution. Braz. J. Phys., 37(2c), 816-818.

Hanrahan, C. (2008). Global resources. Detroit: Greenhaven Press.

Harris, J., & Roach, B. (2013). Environmental and natural resource economics. Armonk, N.Y.: M.E. Sharpe.

Krutilla, K., & Reuveny, R. (2004). A Renewable Resource-based Ramsey Model with Costly Resource Extraction. Environmental and Resource Economics, 27(2), 165-185.

Liu, N., & Ang, B. (2007). Factors shaping aggregate energy intensity trend for industry: Energy intensity versus product mix. Energy Economics, 29(4), 609-635.

Sakaguchi, J. (2010). Best mix of primary energy resources by renewable energy and fossil fuel with CCS in view of security, stability and sustainability. Science in China Series E: Technological Sciences, 53(1), 62-68.

Smith, T. (2004). Renewable energy resources. Mankato, MN: Weigl Publishers.

Thanh, P. (1977). Growth and optimal growth with renewable and non renewable natural resources. Kingston, Ont., Canada: Institute for Economic Research, Queens University.

Timilsina, G. (2013). Biofuels in the long-run global energy supply mix for transportation. Philosophical Transactions of the Royal Society A: Mathematical, Physical And Engineering Sciences, 372(26), 20-22.

Tower, E. (1990). Environmental & natural resource economics. Durham, N.C.: Eno River Press.

In the recent time, a significant number of research papers are focused on the investigation of the economic inequality on the global scale. According to the researchers, colonialism is a major explanation behind todays differences in income inequality across countries (Angeles 1155). The economic gaps between the developed and the developing parts of the world experience dramatic growth. The rise in awareness regarding these issues demonstrate that the causes provoking inequalities and the economic underdevelopment must be evaluated and recognized to elaborate the effective methods for the improvement of the current situation and provide the balanced distribution of wealth among nations.

According to Cypher and Dietz, colonialism may be defined as the plundering of resources of an economically and military weaker country by a stronger nation that may also result in a severe demographic crisis (78). According to the recent research findings, the economic inequality was significantly higher in those countries where the number of the European colonies was bigger (Angeles 1155). It is observed that the colonization of the countries by the Europeans may be considered as the factor that predetermined the patterns of the local social, political, and economic institution development. The participation of the European settlers in the development of these institutions played a significant role in the provocation of the economic weakness of the colonized countries (Acemoglu, Johnson and Robinson 1369).

According to Promes, colonialism is defined as the domination of one group of people over another; this was made manifest through a condition of monopoly in the exploitation of natural resources, labor, trade, and fiscal revenues by the dominant power (6). Colonialism is the phenomenon that takes place when the technically advanced and developed civilization comes into contact with the less developed civilization. In this way, the dominant nation obtains the monopoly over human, economic, and natural resources in the region, and takes control over the informational and cultural sources as well. In case the monopolistic pattern of behavior successfully continues, the domination of one culture over another becomes stronger and progressive. It is observed, that the progressive colonization is characterized by the discriminative and manipulative attitudes in educational, legal, cultural, linguistic, and administrative dimensions of the social structure. As a result, social class divisions and socio-economic inequality occur. According to Promes, these internal divisions and structures would then remain intact long after the colonies had achieved independence (7).

The excess exploitation of resources by the ruling political forces during the period of colonization results in the economic underdevelopment and the low growth rates in the post-colonization period. According to the researchers of the African colonial experience, the poor political and economic development in the region was caused by both direct and indirect modes of rule. Under indirect rule, exploitation activities by the colonial ruler create distrust between the indigenous privileged class and other people, harming postcolonial economic and political development in Africa (Mizuno and Okazawa 406). Through the historical analysis, it was established that the colonial rulers and the ruling indigenous groups may exploit the local natural and economic resources for their benefit and personal consumption. At the same time, the subordinate groups cannot be fully aware of the extent and quantity of the taken resources. As a result, the imbalance of wealth distribution takes place.

According to the further research findings of Mizuno and Okazawa, when the non-indigenous colonial rulers withdraw from the state, the privileged group takes control over the political power (406). Nevertheless, the ideologies and beliefs that were formed throughout the colonization period may significantly affect the policies and legal regulations designed and adopted by a new local government. The tyranny of the colonial ruler makes the ruled group suspicious of the ruling group and leads to inefficient activities of the ruled group, such as underinvestment and revolt (Mizuno and Okazawa 406).

As Angeles claims, the income inequality growth inevitably followed the increase in the number of the European settlers in the colonized regions (1159). It is explained by the fact that the Europeans were able to benefit from the work of the native population and extract a larger part of the countrys production (Angeles 1159). On the colonized territories, the distribution of wealth was usually balanced among the members of the European population. Therefore, when the Europeans became the dominant majority, the inequality reached the normal level. There are a few colonies that became populated by the European majority: Australia, the USA, Canada, and New Zealand. This type of colonies is known as New Europes (Angeles 1159).

According to Angeles, another type of colonization is the Settler colonies (1159). In the Settler colonies, the Europeans constituted the large minority of the overall population. The European minority groups became more skillful in the appropriation of the regional resources while the indigenous people usually had limited access to land and its resources. As a result, they were obligated to work for European settlers to survive. In this way, in this colonial type, the minority groups became a privileged group with an advantageous political and social status that was succeeded by the European settlers descendants. As a result, the wealth was disproportionally distributed throughout the period of colonization. The Settler colonies were the countries of the Latin America and Africa.

According to the researchers of the colonial relationship in the Latin America, the interrelations between the native Mexicans and the mixed dominant population groups are characterized by ethnic discrimination, political dependence, social inferiority, residential segregation, and juridical incapacity (Promes 8). It is mentioned that the social structure during the period of the Mexican regions colonization is characterized by the social class division that may be defined primarily in terms of ethnicity. As the process of globalization and development of capitalism started gathering pace, the changes in the local economic and social conditions emerged. The interrelation between the global and regional economic forces in the 19^th century Mexico, conspired to keep native communities marginal, inward-looking, and isolated from the outside world (Promes 9). The regulatory policies and political ideas used throughout the centuries of Mexican colonialism continued to be applied by the governmental authorities to keep the minor native groups economically and socially inferior. In this way, even when Mexico became an independent state the balance between the indigenous people and other national groups stayed as it was in times of the colonization by Spain.

According to Couze, nowadays, the global economic inequality may be considered the central politico-economic problem, affecting social cohesion and conflict (226). As it is possible to assume, the inequality is the consequent result of the defects in the political and regulatory mechanisms that induce the misdistribution of economic resources on both regional and global scales. Colonialism is the social structural phenomenon that also involves the political aspects. According to Gonzalez Casanova, the researcher in anthropology, who focused on the investigation of the issues of social and economic inequality in the Latin world, the responsibility for the resolving of the problem is on the national officials (33). The process of decolonization may proceed through the application of the various educational, economic, and political tools, programs, and policies.

According to the neoliberalisms perspective, individual as a living being is premised on the universalization of property and competition as founding principles of society (Couze 226). According to the given principles, a person is largely driven by the self-interest in his/her economic performance. The principles of economic competition and individualism create the commonly accepted values of the capitalist society. Along with the principle of the economic redistribution (taxes, debts, charity, etc.), these values are regarded as the intrinsic elements of the social cohesion.

The legacies and beliefs inherited by the indigenous people from the times of colonization do not simply vanish after the country attains independence. The beliefs play a significant role in the formation of peoples attitudes towards political and economic systems. And as it is demonstrated in the previous literature findings, the colonial social concepts can affect social interactions. The level of indigenous population trust or mistrust towards its rulers influences the political and economic development on the national scale.

The comprehension of the multiple aspects affecting the economic development and wealth distribution in the global society such as political power, social privileges, cultural values, etc. can help to elaborate the novel political instruments that would allow achievement of the redistributive justice through the development of new economic culture and fostering new social and ethical values of equality.

Works Cited

Acemoglu, Daron, Simon Johnson, and James Robinson. The Colonial Origins of Comparative Development: An Empirical Investigation. American Economic Review 91 (2001): 13691401. Print.

Angeles, Luis. Income Inequality and Colonialism. European Economic Review 51.5 (2007): 1155-1176. Print.

Couze, Venn. Neoliberal Political Economy, Biopolitics and Colonialism A Transcolonial Genealogy of Inequality. Theory, Culture & Society 26.6 (2009): 206-233. Print.

Cypher, James, and James Dietz. The Process of Economic Development, New York: Taylor & Francis, 2008. Print.

Gonzalez Casanova, Pablo. Internal Colonialism and National Development. Studies in Comparative International Development 1.4 (1965): 27-37. Print.

Mizuno, Nobuhiro, and Ryosuke Okazawa. Colonial Experience and Postcolonial Underdevelopment in Africa. Public Choice 141.3-4 (2009): 405-419. Print.

Promes, Molly Ellen. Toward a New Theory of Structural Inequality: Internal Colonialism and the Case of Oakland, California. Order No. 1505104 University of Oregon, 2011. Ann Arbor: ProQuest. Web.

Introduction

Economics surrounds daily interactions that exist between scarce resources and unlimited wants. Everybody in an economic setup has limited resources that are needed to satisfy whatever he or she wants. As a result, they tend to achieve the unlimited wants using the available resources within their reach. The essay elaborates four key points namely market economy, regulations and laws on economy, economic decisions, and pricing of goods with respect to the market structure of the USA (Selwyn, 2014). These four key points are derived from the article Prediction: Economic Collapse, Civil Unrest in America by 2016 by Selwyn in 2014.The paper will also elaborate how current market systems have affected the USA economy.

Key points Relevant in Economic Newspaper

The first key point in economics is a market economy, a setup where people and private enterprises make decisions on matters concerning the production and utilization of products (Mitry, Smith, & Matula, 2014). Most enterprises under market economy reap high profits since they design unique production techniques, which are cheap and self-sustaining. For instance, the US can be categorized under market economy. A case is seen in the journal where banks escalate money prices that have led to inflation (Mitry et al., 2014; Selwyn, 2014).

A price level is the second point. It indicates how lowness or highness of the prices of commodities in the market within a given period. The price levels, especially in the oil and gas sector, have been noted to drop in the recent past (Mitry et al., 2014). Although a fall in prices is noted in gas and oil sector, market economy of the US still faces inflation since the private banks provide their monetary rate irrespective of the existing governmental regulations. As indicated in the article, an economic collapse is predicted due to such financial activities (Selwyn, 2014).

Regulations, decisions, and laws that are made in the private sector and/or the government affect business activities (Selwyn, 2014). Such laws and decisions fall under microeconomics. They elaborate the quantities and prices of commodities and services in a particular market. Furthermore, they deal with government regulations on taxes, prices, and quantities of products that are in the market (Mitry et al., 2014).

On the other hand, macroeconomics deals with economic systems at the national and global levels. Its main objective is to elaborate the acceptable price levels, national income, employment strategies, and production systems (Selwyn, 2014). It also provides information on the government taxes, price levels, and spending in a given country (Mitry et al., 2014).

Market Structure as a Concept of Economics

The organization of a given market based on its characteristics is termed market structure Baldwin & Scott, 2013). The structure of a given market ensures that both pricing and competition exist. Furthermore, it lays emphasis on market shares that are captured by the existing businesses (Baldwin & Scott, 2013).

Effects of Market Structure on the US Economy

The regulations and competition that are present in a given market can have both positive and negative effects on the national economy (Syverson, 2004). For instance, competition ensures that businesses achieve high prices for their goods. Such enterprises get high profits due to the barriers that are created to control market entrants and competition. When lower barriers exist, enterprises that are more new establish in the market thereby bringing about intense competition (Baldwin & Scott, 2013). For example, the USA has a market economy with lower barriers to new enterprises. As a result, competition is exhibited in the market setting (Baldwin & Scott, 2013).

As indicated in the journal, prices keep on shooting up due to individual decisions and frequent printing of money. This situation has adverse effects on the US economy since more banks determine their monetary values. In this case, price inflation occurs (Selwyn, 2014). Contrary to the above statements on the inflation of prices, it is noted that the global economy swift from low to high levels may result in the worsening of the US economy (Mitry et al., 2014). It is clear that financial and structural instabilities also exist in Europe and other upcoming economies such as China and India (Mitry et al., 2014). Current statistics show that the economic freedom score of the United States has dropped from 76.2 in 2015 to 75.4 in 2016 (Mitry et al., 2014). This situation is a clear indication that the regulatory burden of the country continues to increase with a view of regulation the international economy.

Conclusion

As revealed in the journal, the US economy has been hitched by various factors such inflation. Although the journal presents a prediction of an economic collapse, it can be said that the US government strives to counter various factors that can affect it economy adversely. There is also a plan to ensure that the economy remains stable through the establishment of regulations on most commodity prices. As a result, many businesses have complied with such regulations to ensure that they avoid losses. Furthermore, firms in the US are striving to innovate with a view of introducing new products that will most likely offer profitable opportunities in the international market.

Reference List

Baldwin, W., & Scott, J. (2013). Market Structure and Technological Change. Web.

Mitry, D., Smith, D., & Matula, T. (2014). Reconsideration of Globalization and Free Trade: Imperatives for Changes in Economics, Business, Political Science, and International Relations. ASBBS Proceedings, 21(1), 469.

Selwyn, D. (2014). Prediction: Economic Collapse, Civil Unrest in America by 2016.Web.