INTRODUCTION A Jewish- American economist by the name of Harvey Leibenstein, was born in 1922 in Yanishpol, Ukraine. After attending Northwestern university, he joined Harvard where he made many written economic contributions namely: Economic Backwardness and Economic Growth (1957), and General X-efficiency theory and economic development (1978). His most renowned work is his book, “Beyond Economic Man” (1976). Leibenstein also derived a concept known as the X-efficiency theory. Leibenstein noticed that some firms in a specific industry are more efficient than others and there must be other intangible factors at work (Arndt, 1988:223). Neoclassical economists believed that under perfect competition, maximum efficiency needs to occur in order to make a profit, however X-efficiency explains …show more content…
He insisted that firms are not using their resources efficiently when there is an absence of strong competitive pressure (Perelman, 2011:211-22). After doing some research, Leibenstein noticed an ever recurring pattern where the factors of production were not being utilized to their full potential or they were being used in a wasteful way. These patterns did not coincide with the basic law of the neoclassical theory, as enterprises should be using their resources at optimum level and pursuing opportunities to achieve profit maximization. He also observed that the problems were not involved with markets directly but rather the activities inside the firms. The following conclusion was derived; if costs were not being minimized then one had to measure the variation between the actual and minimum costs and to do so, a name had to be found for this phenomenon, while secondly, the significance of this type of inefficiency had to be measured (Leibenstein, 1979:14). This is how the concept of X-efficiency was
Imagine you're in a concentration camp and you know your life is going to end, but then you see hope. In this essay I will be telling you about Oskar Schindler; Oskar was a wonderful man that did everything for his jew’s out of the kindness of his heart, and he saved 1200 jews from being murdered in concentration camps. Schindler did a lot of amazing things in his life, but these are just a few things he did.
This made me perceive myself as if I were subordinate or not enough, later on I found out that was not it; but for a while that was my battle. Daniel Munczek Edelman in his short academic journal also writes about the fear his mother had of him being different and not being able to speak the language (English), “My immigrant mother freaked out when I couldn't speak English at the beginning of nursery school.” (Edelman 59.40). His mother knew how hard it would be for him not knowing the language, how the difference of his culture would and could affect him. This article was written in two-thousand thirteen, it is a recent article proving that the differences in cultures are still relevant. His anecdote is essential because he gives background to what goes on in the differences of culture and examples of how culture has perceptions and how it can shape oneself. “My boss, half African-American and half white herself, jokingly called me "half-caste," insisting that I would one day admit that I wasn't totally white.” (Edelman 59.40) This justifies my point that the way we look does have an influence on the way others view “us”. Daniel Munczek Edelman’s boss did joke about his ethnicity because of the way he looked, he didn’t totally look like his other ethnicities and didn’t really involve himself
John Komlos creditably about the topic is really high. He is a professor emeritus of economics and of economic history at the University of Munich and on top of that, he also taught at Harvard, Duke and the University of Vienna as well. Base on the author information from the article John Komlos is also the author of the new textbook, “What Every
Before Stauffenberg made that decision, he declined multiple offers, however a series of events changed his mind. Eventually, Stauffenberg attempted to kill Adolf, which is known as the July Plot. Stauffenberg was caught by other officers earlier that day. As a result of this Hitler’s orders, Stauffenberg was to be executed for his crimes the day after. (Claus Von Stauffenberg, History Net)
The cost-efficiency implies that the company introduces changes that allow the company saving costs without harmful effects of such changes on the quality of products and services of the company. For instance, the company can optimize internal business processes through their automation (Clarke, 2000). The automation of internal business processes saves time of employees which they can use more effectively, for instance, to increase their productivity. In such a way, the company enhances its performance and increases its revenues while its costs drop.
Productive efficiency occurs when the firm produces its output at the least possible cost per unit. This requires the firm to produce at the minimum point of its long-run average cost curve. Allocative efficiency occurs when the goods that are being produced are the ones consumers most prefer. In order to achieve these efficiencies, firms are required to produce where price (which measures the consumers marginal valuation of the last unit of the product) equals marginal cost (which measures the opportunity cost of using resources to produce the last unit).
If composers are the masters of time, then the choreographer George Balanchine is the master of visual realization of that time in human terms. A master in both the kinesthetic and musical frames of creativity, he did not devote his energies to music visualization by assigning a certain number of dancers to represent strings, others the brass, and still others woodwinds or percussion but by creating a visual analogy in space that restates the musical structure with the trained dancer's body. He claimed that "Ballet... should not be an illustrator of even...the most substantive of literary sources. It will speak for itself. The ballet is flowers, beauty, poetry...I am, if you please, an advocate of pure art."
Tobias Wolff, a boy of a troubled childhood, and a very tough father. Tobias Wolff had no intentions of being a writer from the start; it just seemed to of popped into his life. The Amazing part about this writer is that he was not supported by anyone but himself. His father was against everything that he did, and his brother, Geoffrey, also a writer would always take his fathers side, leaving Tobias on a side of his own. “I wasn’t fair, I always took my father’s side.” Said Geoffrey (Wolff, G; Duke of 144) Geoffrey was known as the ‘Good Brother’ as his father would say. This was wrong for a father to do, parents can’t play favorites, because it leads to one child feeling left out, or rebelling against it like Tobias
Comparing Oskar Schindler throughout Schindler’s List Oskar Schindler was credited to saving more than a thousand Jewish people’s lives by having them work at his factory, but he didn’t always have the desire to save the Jews. Actually, throughout the whole movie he wore a Nazi pin on his shirt. While the movie progresses Schindler goes from having the same viewpoint as the Nazis to eventually siding with the Jews. Going through Schindler’s miraculous change of heart is very inspiring, and Schindler’s List should be seen by all to understand such a terrible time in our world’s history.
Over 11 million people died in the holocaust, and more than 7 million of them were Jewish. Oskar Schindler was an entrepreneur who sacrificed himself for a cause he believed was unjust. He spent most of his life around Germany in Europe. During the Holocaust, he saved over 1,200 people from the gas chambers. There are some people who don’t think of him as a hero, but as a man looking to make an easy dollar. In my opinion Oskar Schindler was a hero of the highest class and deserves all the credit he received for his actions. When Oskar was born in 1908, no one could’ve guessed he would have such an impact on the world.
If the marginal product per dollar spent on capital is less than the marginal product per dollar spent on labor, then in order to minimize costs the firm should use
“Little Italy” is the nickname given to Leichhardt due to the working-class Italian history and the plethora of Italian cake shops, restaurants with tasty pasta plates, gelato, and Italian pastries. Most of Leichhardt’s food and drink precinct is found along Norton Street, but from Parramatta Road to Lilyfield you will find several Italian shops, cafes, and restaurants. What is so special about Leichhardt?
The operations across all organizations, government, governmental agencies and small and large businesses are required to be efficient. However, these organizations function with some degree of inefficiency since the complete elimination of inefficiency is impossible in the real world. As these organizations operate in the real world, they are forced to operate with inefficiency though these inefficiencies are only lessened to an acceptable level or minimum.
A light can save you from the darkness. In every darkness there is always a light. People think that there were not any lights in the dark time of the Holocaust. However, there were many lights saving Jews from the darkness. These lights were called Rescuers. One of the lights that shinned the brightest was Oskar Schindler, who worked within the Nazi Party.
“George Gilder, whose Wealth and Poverty shot onto the best-seller lists in early 1981, was its Walt Whitman, celebrator of the entrepreneurial future that tax cuts would bring. An even more marginal figure than Wanniski, Gilder was sure that the argument for diminishing returns was wrong and that the application of mathematics to economic enterprise from the early nineteenth century forward distorted the matter entirely. The idea of society as a zero-sum game, he wrote, ‘strikes at the living heart of democratic capitalism.’ Classical economics' fatal mistake, he wrote, had been to emphasize the static intersection of supply and demand curves rather than ‘the turbulent process of launching new enterprise.’ Tax cuts were not about greed, Gilder