Intellectual Property And Copyright Property Rights Essay

Introduction When we use our mind as the intelligent humans we are, sometimes out of that comes Intellectual property. Intellectual property is an idea that was created by one with the intention to trademark, copyright or patent the creation they have made. There are many forms of intellectual property that exist ranging from artistic sides to mechanical sides and etc. With those many forms intellectual property is broken down into two factions, industrial property and copyright in which all the forms of intellectual property lye somewhere in those two factions. To understand intellectual property a little more we need too look at the two and break down the factions. Also take a look at the protection and the laws that pertain to copyright, trademarks, and patents. Discussion The term intellectual property refers to the innovations of the human mind. Intellectual property rights protect the interests of these innovators by giving them property rights attached to those ideas. The term intellectual property rights stands for these legal rights that authors, inventors, and other creators have. Intellectual property laws relate to a particular way in which ideas or information is expressed or displayed, but not the actual ideas or exact concept itself. The first use of the expression intellectual property appears to be October 1845, in Davoll vs. Brown, a patent case in Massachusetts. Justice Charles Woodbury said that only in this way can we protectShow MoreRelatedIntellectual Property Rights, Copyrights, Patents, And Trade Secrets2320 Words   |  10 PagesMid-Term Exam 1. 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The Role of Government in Economy Free Essays

Nowadays, there are debates on how far government should interfere with the economy. Government has played an impact on the economy with the purpose to maximize the well-being of society. What governments generally do is to assure the economy grows at a steady pace, increase level of employment and stabilize the price level. We will write a custom essay sample on The Role of Government in Economy or any similar topic only for you Order Now However, whether government should take active policies to interfere with economy or just let it grow naturally has raised widely discussion. This essay discusses the role of government by analyzing both thought of Keynes and Friedman and then prove the effectiveness of Friedman’s theory with historical examples. Firstly, the Great Depression of the 1930s has helped prove the importance of government’s intervention on the economy in the past. The Great Depression started with a decrease in stock prices in America and then quickly spread to most parts of the world (McElvaine, 1993, p 59). There was a tremendous decrease on the demand and global trade, followed by high unemployment rate. As a result, various measures were taken by governments worldwide in an attempt to accelerate the economy’s recovery and reduce the unemployment rate including stimulation on demand by spending much more than they took in (Fox, 2008, p 1). At the final several years of the Great Depression, Keynesian macroeconomic theory, which shows the importance of government’s role on the economy, has played an impact on interventionists’ policies. In Keynesian economics, when inefficient economic outcomes aroused from decisions of private sector, public sector needs to take active measures. By fiscal policy adjusting taxes and government spending and monetary policy which deals with the amount of money supplied and credit, government could help stabilize the economic growth rate, and then plays an impact on price level and employment rate in the process (Congdon, 2007, p 169). In the case of the Great Depression, Keynes said the low unemployment rate were the result of insufficient demand, thus intervention of government was important to run deficits, increase spending and/or cutting taxes, and so as to keep people fully employed (Aikins, 2009, p 403). However, the stagflation of 1970s has challenged Keynesian theory bringing debates on the intervention of government on the economy (Gittins, 2010, p 6). According to Bresiger (2009) it was the 1970s, economic growth was weak, resulting in rising unemployment that eventually reached double-digits. The easy-money policies, which financed huge budget deficits and were supported by political leaders, were then undertaken by the American central bank, in order to generate full employment. However, it also caused high inflation which began in late 1972 and didn’t end until the early 1980s. The great inflation, and the recession that followed, wrecked many businesses and hurt countless individuals. As Bresiger (2009) concluded in his article that before inflation returned to low single digits, another brutal policy of tight money, including the acceptance of a recession would be expected, and meanwhile the unemployment rate would exceed 10%. Given the increasing skepticism towards usefulness of fiscal policy and its multiplier effects proposed by Keynesian theory, another macroeconomic policy named monetarism chiefly proposed by Milton Friedman has attracted growing supports (Issing, 2010, p 35). It was supported by Bernhut (2003) concerning monetary policy, emphasizing on the amounts of money that government should determine to supply in circulation. The theory of monetarism puts a stress on the benefits aroused from free market economics and weaknesses associated with government intervention on the economy (Congdon, 2007, p 200). The appropriate economic role for government is to manage the amount of money in circulation, so as to influence aggregate output in the short run and finally control the level of prices and inflation rate over longer periods. Particularly during the 1980s, some of the laissez-faire thoughts proposed by Friedman including monetary policy, privatization, deregulation and taxation, were used by governments (Congdon, 2007, p 202). After analyzing the thought of both Keynes and Friedman respectively, it may be better to give a comparison on the two theories in order to see what role government should take in the economy. As Issing (2010 p 1) says in his article, after the Great Depression, there was dominant belief on the Keynesian theory. However, the lessons obtained from the stagflation of 1970s, associated with Keynesian policies, are that unrestrained and neffectively planned intervention by government could give rise to market failure and adverse economic outcome (Aikins, 2009, p 405). The weakness of Keynesian theory was supported by Callaghan who stated that cutting taxes and boosting government spending during recession would inject higher inflation rate followed by higher rate of unemployment (Issing , 2010, p 2). On the contrary, rather than regarding insufficient demand as the key factor driven the Great Depression, Friedman argued it was largely caused by the Federal Reserve reducing the money supply. In the article, Issing (2010) plays an importance on the money by illustrating that ignoring monetary factors has led to the worst crisis since the Great Depression related to the asset price bubbles. Another example which helps prove the effectiveness of monetarism was given by Congdon (2007). When Margaret Thatcher won the 1979 general election in United Kingdom, Britain had several inflation for several year, with inflation rate rarely below 10%. Even worse, the rate had reached 27% by the time of the election. Thatcher implemented monetarism to control inflation, and successfully reduced the rate to 4% at 1983. There was a global recession at that time, and Thatcher’s monetarist policies contributed to the success of fighting against the recession, meanwhile helped Britain become one of the nations which recover economic growth firstly. To sum up, this essay has examined two theories concerning about the role that government should take in economy. In Keynesian economy, fiscal policy is particularly an important tool that government should use when aggregate demand is not insufficient and keep full employment by running government deficit. Historical evidence has showed that it was not an efficient way to fight recession. Conversely the monetarism offers Keynesians a better view of monetary policy. It can be shown that the core ideology of monetarism can still work well today and monetary factors can not be neglected, thus government has a role to determine amount of money supplied as well as the volume of credit in all aspects, but not interfere with the economy unrestrainedly and ineffectively. How to cite The Role of Government in Economy, Papers

Rough Waters free essay sample

My mind was racing, as the bay had reached capacity. The water rushed into the backyard, flowing through at an alarming rate devouring all empty space. The cold, salty bay had invaded the house, filling like a reservoir before my eyes. Running on adrenaline, I quickly moved everything of importance from its path. It was useless; the water kept throwing all the objects around that were in its reach. There was no land left and even the park across the street had become a frosty, war torn ship sitting in the middle of the artic. The day was cold, and the air was brisk, rubbing against one’s face like a sand storm. It was like any other New England winter except that I was alone and the house was under siege. As the bay began to enter my basement, so did the energy inside my brain. On the other side of the door lay a backyard submerged in water that was ready to rush in. We will write a custom essay sample on Rough Waters or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Promptly, I gathered the several pumps and a sheet of plywood; dancing threw the cold water as it bit into my skin. I attempted to divert the water and create a seal protecting all valuables, living and non that resided within. Most high school students desire more free will in their lives every waking moment, yet do not know what it truly entails. They have never experienced total control and responsibility. You’re under your own guidance and ingenuity; no one is around to take you by the hand or make things right. This became a shocking reality to me three winters ago, when I decided to stay home one day while my family went to visit my aunt. That day I was not only scared that the over four feet of slushy water might damage the house, but also that I would not be able to respond effectively. That day taught me what it is like to be self-reliant, to adapt, and to function as an individual. People are sure to have help in one form or another from teachers, parents, and frie nds alike. In reality though, they cannot be with you every day, help make all your choices and to bring you past all your obstacles. Nobody’s perfect, but each experience I’ve persevered through has developed me as an individual, making me prepared to wade through any challenge. College is in many ways similar. You have to be able to help yourself, think for yourself, and solve problems for yourself. If you cannot apply your knowledge and skills to the real world you have not learned anything. It is one thing to have intelligence, something anyone can achieve and still too, to have common sense, but to be able to apply these things together and be resourceful is more of a rarity. For some, college will crash upon them like a title wave overwhelming them, while others may ultimately succeed. Obstacles will always flood my path, its immensities engulfing, but I will always be ready; for once the tides recede truth will take its place.