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This leads directly to the issue of efficiency, which can be seen quite clearly from the above description to be harmed by government intervention in the short-term; by not allowing the market to find appropriate price point in the rapid manner of supply and demand curves, efficiency is eroded. This is where things get complicated, however, and where a true definition of terms must occur. The concept of efficiency itself is fairly straightforward, but in this context long-term and short-term efficiency must be distinguished. Though short-term efficiency is diminished by government intervention, this is not necessarily the case when major detrimental fluctuations over the long-term are controlled.
It is in the area of market stability that the theoretical quandary of the efficiency issue can be solved. Government regulation quite directly and purposefully, in almost all circumstances, increases market stabilization by controlling prices, providing subsidies, and in some instances controlling the levels of production or allowances of consumption (though rationing days have not been seen in this country for generations). This ensures that a regular and dependable but artificially (usually) limited supply of a particular item or class...
If properly conducted, some measure of government regulation in industry can create much greater efficiency in the long-term, because planning can occur on a more certain level, fewer risks will be incurred or even possible, and each expenditure can be made with greater security and a fuller understanding of the true value being created and traded within the market system as it would proceed.
There are, of course, many different levels of government regulation, and extreme levels of central planning such as those that occurred in the Soviet Union tend to lead to long-term inefficiencies and even market instabilities -- or worse, a very stable and near-empty market -- but a happy medium of planned economies with fluctuations for supply and demand within limits, and with government oversight of accounting practices, can lead to greater long-term efficiency and stability. The reduction of the growth rate is a necessary element of this framework, and is itself perhaps avoidable in the long-term, because recessions and "corrections" will tend to be less extreme and of lessened durations as well.
Evidence-Based Proposal on Remote Patient MonitoringIntroduction to Remote Patient MonitoringThe ever-growing field of medical technology provides new opportunities for patient care, including remote patient monitoring (RPM). RPM is the use of technology to collect and transmit patient data from a distance, allowing for real-time sharing of information between patients and providers. While RPM offers many potential benefits, such as increased access to care and improved health outcomes, it also raises
1. The concerns Tonya and Lisa have regarding genetic testing raises several ethical questions that Dugas (2005) outlines. The right to self-determination is central in matters linked to genetic testing, and nurses do need to understand their role in providing informed consent when patients are faced with a decision similar to that of Tonya and Lisa (Dugas, 2005). In addition to providing patients with all the information they need to
Doctors of nursing practice have an ethical and professional obligation to disseminate findings that emerge from relevant and timely research. One area of ongoing concern is the near-epidemic levels of childhood obesity that have emerged in recent years due in large part to increasingly sedentary lifestyles and poor eating habits among young people. This paper provides an assessment and reflection on the success of the program design for disseminating the
Tobacco At first glance, many would agree that there is little reason to keep the tobacco industry afloat. The glaring health concerns and ethically questionable political actions of this industry have vilified its members in the eyes of countless global citizens. However, upon objective examination of the relevant data one finds this industry to be startlingly lucrative. Accordingly, the global production of tobacco continues to be a leading commodity in
Home/Water Birth An Analysis of the Benefits of Home/Water Birth Like all decisions to be made regarding the birth of a child, there are pros and cons that go along with them. This paper will look at the pros and cons of home/water birth, from a legal, moral, social and ethical perspective, and show why home/water birth with a midwife is a positive, low risk alternative. There are many points to consider when
Meat Limiting ApproachRecent environmental events like global warming, water and air pollution, loss of biodiversity, deforestation, and land degradation demonstrate the effect of human activities on the environment. These events are brought about by a wide range of human activities, particularly the emission of greenhouse gases due to industrialization. Zur & Klockner (2014) contend that household consumption is the major contributor of human-related emissions. This implies that housing, food, and