Wednesday, November 27, 2019

Market Value Concept from an Economic Perspective

Basically, political economy and in particular Marxian economics, the concept of exchange value is traditionally employed to define one of the core aspects of a commodity. Some of the correlated concepts are price, use value and value. This shows that a product has; a value, an exchange value, use value and a price.Advertising We will write a custom essay sample on Market Value Concept from an Economic Perspective specifically for you for only $16.05 $11/page Learn More These attributes have an extensive history ranging from the era of Aristotle all the way to the period of David Ricardo. However, the entry of Marx concepts tilted the earlier concepts of exchange value. From an economic perspective value is presented as the worth of either goods or services as set or determined by the existing markets. However, this observation does not hold the real formulation of what is in essence defined as value. For years economists as well as other social scientis ts have attempted to link and estimate the significance of value in relation to individual. Similarly, this approach has over the years been extended to both goods and services being exchanged. Hence, such approach saw the development of such dynamic concepts as value in exchange as well as value in use. Thus, examining the argument presented by Kalman Applbaum in the article â€Å"Pharmaceutical Marketing† the concept of value is correlated to marketing and branding. As the article asserts individuals are willing to pay higher prices for a brand than for a helpful product (Applbaum 0446). This concept is thus widely employed by pharmaceutical companies. The core objective of such approach is to create more earnings from a brand value than from the products. What this means is that brand value dictates what the greater society consumes. Equally, this same approach is well illustrated by the manner coca cola brand is marketed. Basically, the brand value seems to be more profou nd than the product itself. This indicates that value can be measured as the set price of the given products. However, in regard to the argument presented by neoclassical economists, the value of any product is correlated to its price in relation to the free and competitive market. And the value is thus determined by the demand of the product relative to the market supply. Examining the approach etched in the pharmaceutical industry it can be argued that the market demand surpass the supply and this has played a critical role in establishing what is in essence value. In relation to value in use as well as brand value, these firms have opted to embrace the concepts developed by neoclassical economists.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Thus, the elements of value are not linked to improving the innate consumption of humans but rather to attain the greatest profitable margin. Th e principal features which drive such an approach can be explained by the fact that brand value has over the years been used as the vehicle by corporations tied their hope (Applbaum 0447). Hence, this has resulted in a situation whereby brand value supersede the need for satisfying the innate needs of humans through provision of what anthropologists defines as human value. The scope of brand value is thus echoed by Robert J Foster in his article â€Å"The WORK OF THE NEW ECONOMY: Consumers, Brand, and Value Creation. The author observes that consumers tend to go for popular brands while the product manufacturers through elaborate marketing strategies exploit this window presented by brand value (Foster 708). Equally, this results in value creation which rests on brand value rather than on the product itself. Though, Foster seems to suggest that the creation of new values begins with innovation; it is evident that the natural flow of market demands creates values. Thus, in an econom ic perspective the intensity of value is compactly determined by price as well as the price attached to products whether goods or services. Another notable aspect examined by Foster revolves within the context of satisfying what is defined as surplus value. This concept is defined by Marxian theorists as a notion that attempts to define and explain market instability in regard to capitalism. Thus, this posits that human labor forms the foundation of economic value. Thus, exploring the argument presented in the article we find that the concept of surplus value is definitely less examined. This can be linked to the fact that modern corporations are more concerned in making profits rather than satisfying the market values. Hence, the creation of brand values which are becoming more potent than value in use. Comparing the explanations brought forward by both Foster and Applbaum it is evident that the concept of use value is less considered in the current society. This is elaborated in t he manner diverse organization are anchoring on massive marketing without examining the aspects of use-value which is in essence the qualitative characteristic of value, that is, the solid manner in which a product satisfy human needs.Advertising We will write a custom essay sample on Market Value Concept from an Economic Perspective specifically for you for only $16.05 $11/page Learn More Perhaps that is why Graeber argues that when we are talking of use value we tend to think that we are dealing with definite attributes such as tons of, dozens of or meters of (442). Basically, he notes that use-value correlated to commodities becomes real when the given commodity or product is used or consumed. According to Graeber the concept of value is predominantly defined differently economists (443). To his observations the concept of value have been restricted to market theories which are designed to produce mathematical satisfaction in relation to allocating l imit resources while pursuing profits. In essence, the core argument in his article suggests that the concept of value is based on market convenience rather than on satisfying the human needs. Hence he attempts to draw a parallel between what the anthropologists think of values and what economists take as value. From such an observation we are brought to the same sentiments voiced by Foster and Applbaum, exchange value seems to be the determinant factor in regard to what is assumed to be all inclusive. Thus, the scope of neoclassical economy is brought as being the modern measure of value, this approach assumes that human approaches calls for allocation of available resources in pursuit of limited resources. Yet exploring the dynamics of use value, brand value as well as surplus value, this concept fails to satisfy the innate needs of man. What this demonstrates is that the diverse economic projections witnessed have evolved to be restricted to the available resources or markets wit hout exploring other regions of improving on value. As noted in the article â€Å"The Work of the New Economy† the diverse attributes of what is defined as value can be said to be tied to profits This is also established by the massive marketing investments which have overtaken the noble cause of production. It ought to be noted that marketing is essential in building brand value and this has gone to the limit of misleading the consumers who rarely identifies the use value of the given product or services.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Graeber, â€Å"Value† Foster, â€Å"The Work of the New Economy† Applbaum, â€Å"Pharmaceutical Marketing† have all accepted that the scope of value is money-priced. This seems to be due to the emerging market demands which are not fully satisfied. Hence, the dynamics of value are not treated as processes of enhancing social well being rather the concepts of value are left to the domain of traditional social scientists. Thus, it becomes difficult to establish in essence what the core purpose of value is in the growing neoclassical economy. In conclusion, it is evident that the scope of value is the most disputed feature in regard to political economics. This can be allied to the fact that the hypothesis of exchange which rests on the porch of science happens to be the bridge linking problems allied to economics to problems social in nature. And this happens to be the pointer of exiting from the theoretical manipulation affecting the whole sphere of human economy . More so, its conceptual nature makes an objective approach quite complex for all those who have ventured into exploring the aspects of value in regard to human economy. Thus, the concept of market values in regard to exchange values though essential presents a mountain of queries than answers. As established by Graeber the concept of value compactly left behind as the political economists are more concerned with developing attributes that are profit oriented in regard to labor, pricing and distribution. And this seems to be the foundation laid by those advocating for neoclassical economy, that is, capitalist markets. Works Cited Applbaum, Kalman.Pharmaceutical Marketing.Pls Medicine 3.4. (2006):0445-0447. Foster, J Robert. The work of new economy. Cultural Anthropology 22.4 (2007):709- 729. Graeber, David. Value: anthropological theories of value. A handbook of economic  Anthropology. Oxford: Edward Elgar Publishing, 2005. This essay on Market Value Concept from an Economic Perspective was written and submitted by user Annabella K. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Sunday, November 24, 2019

Hospital Scrubbing Solution

Hospital Scrubbing Solution PICO question: For developing countries experiencing high rates of hospital-acquired infections (nosocomial infections), will the use of preventive measures as compared to many antiseptic scrubbing solutions decrease the rates of infections among patients.Advertising We will write a custom essay sample on Hospital Scrubbing Solution specifically for you for only $16.05 $11/page Learn More Population (P) Hospitals in the developing countries The target population in this project is based on the fact that it is well documented that nosocomial infections, which contribute to high rates of morbidity and mortality are a major problem in hospitals around the world particularly in the developing countries (Hugh, 2007). According to the World Health Organization (2012), hospital-acquired infections cause preventable diseases such as urinary tract infections, diarrhea, maternal and newborn infections, pneumonia, post-operative infections, and even death in developin g countries. Accordingly, the World Health Organization (2012) notes that the rates of nosocomial infections are high in developing countries due to poor infection prevention strategies and lack of supervision among other factors. Therefore, nosocomial infections still remain to be a major problem in developing countries, which should be addressed accordingly. Intervention (I) – The use of infection prevention measures Following the foregoing discussions, it is notable that one of the major factors contributing to the prevalence of high rates of nosocomial infections in developing countries is poor infection prevention practices. As a result, to address the problem of nosocomial infections in most hospitals across the developing world, there is the need to encourage the use of infection prevention practices. Some of the widely used practices include risk stratification, hand decontamination, sterilization, safe injection practices, use of protective clothing, and cleaning hos pital environment among others (World Health Organization, 2012). For the ICU where the rate of CR-BSIs is relatively higher, it is recommended that the use of antibiotic lock therapy, quinolone prophylaxis, and/or the use of antimicrobial-impregnated catheters could influence susceptibility to CR-BSIs, which have been shown to affect the use of antimicrobial therapy.Advertising Looking for essay on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More In fact, it is recommended that adherence to preventive practices that have been shown to reduce the risk of nosocomial infections should be encouraged in all ICUs (Vajpayee, 2010). Control (C) – Many antiseptic scrubbing solutions Most of the antiseptic scrubbing solutions, which are in use currently including isopropyl alcohol, chlorhexidine gluconate, iodophors, and chlorhexidine, have certain disadvantages despite their efficacy in either killing or removing bac teria from various surfaces. As a result, to find out how infection prevention practices will fair against these scrubbing solutions, it is important to have them as controls in this project. Accordingly, it is hypothesized that the best method for controlling and/or eliminating nosocomial infections in developing countries will be the use of infection prevention practices as outlined in the foregoing discussions. Outcome (O) – Decreasing the rate of nosocomial infections The ultimate goal for this project entails addressing the issue of high rates of nosocomial infections in developing countries, which will culminate into the decrease of the said rates of hospital-acquired infections. However, to achieve this goal and outcome, it is imperative to note that the World Health Organization (2012) has identified certain practical guidelines that should be followed in the prevention of hospital-acquired infections. For instance, before implementing any infection prevention measure , it is recommended that one should start by defining the epidemiology of nosocomial infections within a given area followed by the development of the infection control pragrammes and infection surveillance, which will then give way to dealing with outbreaks and finally, the implementation of infection prevention practices as outlined in the foregoing discussions. References Hugh, M. G. (2007). Complications in Cutaneous Surgery. New York: Springer.Advertising We will write a custom essay sample on Hospital Scrubbing Solution specifically for you for only $16.05 $11/page Learn More Vajpayee, D. (2010). Phacoemulsification Surgery. New Delhi: Jaypee Publishers. World Health Organization. (2012). Prevention of hospital-acquired infections: A practical guide (2nd ed.). The World Health Organization. Retrieved from https://www.who.int/

Thursday, November 21, 2019

Whos Cheap by Adair Lara Article Example | Topics and Well Written Essays - 1000 words

Whos Cheap by Adair Lara - Article Example It is evidently clear from the discussion that Adair Lara in  Who’s Cheap starts off the article by recounting her second date with a guy who came across as cheap to the author when he didn’t offer to help pay for gas. She stated that he was â€Å"as cheap as a two-dollar watch† (Adair, 68). Her response, in my opinion, is justified – anyone including myself in her position would be appalled. I remember that once, while I had some financial constraints, I did not pay my share of the bill with old friends, and despite knowing me, I got labeled as the cheap guy. Lara says that this reaction is commonly found amongst women. Yet they do not elicit the same reaction as males do. She wonders why this double standard still continues. She then states her main point of some traits being gender specific when it comes to distaste towards them. She particularly says that â€Å"men are beneath contempt when they are cheap† (Adair 68). I wholeheartedly agree wi th her on this point. Being a male, I have to constantly be careful in social situations, as men are quickly termed cheap, whereas my sister does not have to put in the same effort. She does say that despite women making as much and sometimes more than their male counterparts, it is usually considered ‘proper’ for a man to pick the check in a restaurant as well as offering to pay whenever the occasion arises. She does not actually state it as such up to this point in the article that what she really means is that men should always pay regardless of financial standing in comparison with the female. This idea is strengthened throughout the article. Even though this seems like a sexist stance for her to take, but once again, I can testify to the truth thereof. If I go out on a date, everyone would expect me to pay, interestingly enough, I was accosted by my mother once when I had the check divided between me and my date, with my dad saying that men were supposed to pick up the tab. Adair also states that some men are stingy by nature which is correct but in my opinion should be expanded to contain both genders. I have known some very stingy females in my life just as the author admits to. Once again it is not a trait that is gender specific yet more unpleasant when displayed by males. So this part of her argument I agree with. She also writes about a friend of hers dumping her boyfriend when he acted cheap on a movie date by handing her M&M’s one by one. I found this incident hilarious but find it hard to say how I would react in a similar situation. What might appear normal to some may be abominable to others. For example, she mentions how her own date she writes about at the beginning of the article, loved talking about purchasing his car, a feat that was likened to â€Å"buying shoes† (68) in her native California, by the author. Perhaps the author was a bit harsh on him without knowing the motive behind the act. Maybe the guy had to struggle to purchase the car and considered it an achievement which he wanted to share with those close to him. Once again, perhaps it depends on the person’s perspective or how the words are actually delivered.Â