Social Work Wealth Inequality

Question: Discuss about theSocial Workfor Wealth Inequality. Answer: Introduction Issue: Rapidly Increasing Inequality in Australia (Source: Douglas, et al., 2014) The biggest issue which is prevailing in the nation is wealth inequality. The rich are getting richer and the poor are getting poorer. The wealth inequality is rising rapidly from last few decades. The inequality was observed in the mid-1970s when the earnings of the top tenth have been increased by a significant percentage i.e. 59 whereas the increase in the wages of the bottom tenth was just 15 percent. These figures clearly demonstrate the issue of wealth inequality (Douglas, et al., 2014). In the year 2009, there was more than 100 times increase in the wages of the top 20 CEOs of the nation. This has considerably shown that there is unfair wage structure taking place in Australia. The increased inequality resulted into up surged poverty (Douglas, et al., 2014). There are various causes which gave rise to wealth inequality in Australia such as the governing economic paradigm inappropriate and inequitable taxation, decrease in the relative value of the transfer payments of few governments, inequalities related to education and theories prevailing in the nation related to inequality and capitalism (Norton, et al., 2014). Need of Change There is an extreme and significant need that these wealth inequality issues must be eliminate and for this there is a need of change in the wealth structure of the nation. There are several consequences of wealth inequality such as unequal admittance towards quality healthcare, nutritious food, education and housing. There is a greater risk of mental illness and cardiovascular diseases because of the precarious jobs and inadequate living conditions. Housing stress is another issue which is an outcome of wealth inequality in Australia. Increase in speculative investments, rapid increase of house prices, job insecurity, weakening of the working conditions and job losses are few other major consequences of wealth inequality (Saunders and Wong, 2013). The Way it Should be Changed To have a change in the wealth structure and to bring equality there is a need of change. And following are the changes which are required to be done to have optimistic outcomes. Re-establishment of better individual autonomy, welfare and probable health benefits To effectively reduce the wealth inequality there must be adequate efforts and emphasis to be laid over the development of the personal autonomy, the health facilities and benefits provided to all the people and the well-being amenities. The more there will be emphasis over these elements the lesser will be chances of inequality to take place in the nation (Douglas, et al., 2014). Development in social mobility There is a set tendency that the children of rich people tend to get all the facilities and amenities and they are the next generation of the rich class and same with the poor class. But if there will be improvements on the social mobility then it would relatively decrease the wealth inequalities in the nation. There must be adequate opportunities for all the children to grow and develop so that they can have improved social mobility and thus inequality can be controlled (Douglas, et al., 2014). A More Efficient and Better Functioning Economy If there will be improved economy there will be a direct impact over the issue of inequality. It is very well established notion that if the high income and high taxation nations generally have low inflation as well as low unemployment rates and thus there is increased well being and social satisfaction among the individuals. Therefore there must be increased number of investments in infrastructure, housing, health and education as this will result into increase equality in social mobility and growth opportunities (Ford, 2013). Implementation of Policies for Reducing Inequality There are various policies which are required to be implement in the nation for reducing the wealth inequality and obtaining a suitable and equitable living and working standards. Following are few policies which are required to be implemented: There should be a National Conversation regarding the issue of inequality, it major impacts and consequences as well as thee should be discussion related to eliminate this issue. There must be equitable and fair taxation reforms and adequate distribution of government revenues and proper disclosure of the financial statements. Fair funding reforms in context with schools so that there can be improved development of the next generations. Increase investments for child development so that there can be early childhood growth and improvements as well as uplifting of the disadvantaged groups. Setting of pensions and benefits appropriately (Douglas, et al., 2014). Job creation programs must be established in the more required and priority regions so that there can reduced rate of unemployment and every individual can get the equal opportunity to work. A National Research Program must be established so that there can be effective monitoring and test of the progress and growth of the effect of the interventions which has been taken place for the reduction of wealth inequality (Katic and Leigh, 2015. Expected Benefits of Change By implementing the above discussed changes thee can be number of benefits which are expected their effective implementation such as if there will be improved social mobility then it would assure that the coming generation need not be in the same wage structure and living standard, there will be an equitable opportunity given to the people to rise. With the improved economy there will be a balanced wage structure and decrease unemployment and poverty rates. It will also aid in increase the working conditions of the people. The major benefits will be driven by the implementation of the effective policies. The fair funding and increased investments will develop the living standards and conditions of the people and will provide them a fair living culture. The various programs will also support in providing clear results and will help in raking measurable actions for increased wealthy equality in the nation (Bagchi and Svejnar, 2015). Strengths and Weaknesses of Change Proposal By analyzing the change proposal it can be observed that there are number of strengths which are associated with the change proposal. It will offer extreme benefits and advantages to the people who are victims of wealth inequality as well as it will help in establishing an equitable national culture and democracy. The change proposal focuses on effective measures which can support the change program significantly. Therefore it can be evaluate that there are considerably no such weakness which is associated with the change proposal as well as it holds major strengths which can help in uplifting the living standards and wealth equality in Australia. Conclusion This change proposal presented here highly focuses upon reducing the wealth inequalities in Australia. The measures provided here to reduce the inequality are highly effective and their effective implementation can help in uplifting the living conditions and working standards of the people. These effective policies will also aid in reducing the poverty ratio of the nation. Thus it can be said that the change proposal is effective for managing equality in Australia. References Bagchi, S. and Svejnar, J., 2015. Does wealth inequality matter for growth? The effect of billionaire wealth, income distribution, and poverty.Journal of Comparative Economics,43(3), pp.505-530. Douglas, B., Friel, S., Denniss, R. and Morawetz, D., 2014. Advance Australia Fair? What to do about growing inequality in Australia. The Australian National University. Pp. 72. Accessed on: 18th October, 2016. Accessed from: https://www.australia21.org.au/wp-content/uploads/2014/06/Final-InequalityinAustraliaRepor-2.pdf Ford, M., 2013. Achievement gaps in Australia: What NAPLAN reveals about education inequality in Australia.Race Ethnicity and Education,16(1), pp.80-102. Katic, P. and Leigh, A., 2015. Top Wealth Shares in Australia 19152012.Review of Income and Wealth. Norton, M.I., Neal, D.T., Govan, C.L., Ariely, D. and Holland, E., 2014. The Not?So?Common?Wealth of Australia: Evidence for a Cross?Cultural Desire for a More Equal Distribution of Wealth.Analyses of Social Issues and Public Policy,14(1), pp.339-351. Saunders, P. and Wong, M., 2013. Examining Australian attitudes to inequality and redistribution.The Journal of Australian Political Economy, (71), p.51.

The Role Of The Witches Essay Research free essay sample

The Role Of The Witches Essay, Research Paper When Shakespeare wrote this drama in 1606 a big bulk of people were interested in witchery. King James was so fascinated by enchantresss that he wrote an article about them in 1957 called # 8216 ; Demonologie # 180 ; . So this is why Shakespeare has made the enchantresss and the enchantresss # 180 ; prognostications play a major portion in the plot line and overall feeling of the drama Macbeth. In the clip of Macbeth enchantresss were non thought to be supernatural existences themselves, but purportedly gained their powers by selling their psyches to Satan, and were so instructed and controlled by # 8216 ; familiar liquors # 180 ; . The being of witchery was recognised by English jurisprudence # 8211 ; an act of 1604 made the pattern of it punishable by decease # 8211 ; but it was by no agencies unquestioned. There can be small uncertainty that most of Shakespeare # 180 ; s audience would hold believed in enchantresss, and for the intent of the drama, at least, Shakespeare be sides accepted their world. We will write a custom essay sample on The Role Of The Witches Essay Research or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The three enchantresss in the calamity Macbeth are introduced right at the beginning of the drama and the brief opening few scenes give an immediate feeling of enigma, horror and uncertainness. This is a mark of things to come as witchery is used as one of the chief subjects of the drama. The enchantresss create an ambiance of immorality and upset. In the gap scene the conditions is thunder and lightning which is a mirror image of the manner the enchantresss are perceived. When you think of boom and lightning you think of immoralities and devastation, this is precisely the manner enchantresss are represented in this drama. They are evil and cause devastation in Macbeth # 180 ; s life. Banquo says in act 1 scene 3 line 124: # 8220 ; The instruments of darkness tell us truths, Win us with honest trifles, to bewray # 8217 ; s In deepest consequence. # 8221 ; He thinks and says bad things of the enchantresss. He calls them instruments of darkness and the Satan. He believes that these prognostications will merely convey injury even before anything begins to go on. He sees beyond the enchantresss and can see that they are evil where as Macbeth is taken in by the enchantresss and this # 8216 ; blindness # 180 ; is what causes his declivitous spiral of jobs. So his best friend warns Macbeth before he makes any determinations that the enchantresss are evil, and what they suggest is evil. If Macbeth had listened to his friend Banquo so possibly the tragic events to follow could hold been stopped. But the enchantresss who could purportedly announce the hereafter, add enticement, and influence Macbeth. They had told Macbeth that he would be King he became impatient and t ried to travel rapidly it every bit rapidly as he could. But they can non command his fate. Macbeth creates his ain wretchedness when he is driven by his ain sense of guilt. This causes him to go insecure as to the grounds for his actions, which in bend causes him to perpetrate more slayings. The enchantresss offer great temptation, but it is in the terminal, each person # 180 ; s determination to fall for the enticement, or to be strong plenty to defy their fascination. The three Enchantresss are merely responsible for the debut of these thoughts and for farther organizing thoughts in Macbeth caput, but they are non responsible for his actions throughout the drama. Everything that the enchantresss say sounds they are intoning a thaumaturgy enchantment. In act 4 scene 1 lines 4-9: # 8216 ; Round about the caldron go # 8230 ; # 8230 ; # 8230 ; .charmed pot. # 180 ; Here the poet uses riming pairs and a different beat to the remainder of the drama. There is a perennial chorus in which they all join in. # 180 ; Double, double, labor and problem: Fire, burn ; and cauldron, bubble. # 180 ; The initial rhyme with the repeated # 8216 ; d # 180 ; and # 8216 ; b # 180 ; sounds make the chant sound really powerful and is really tricky. Lady Macbeth is shown early in the drama as an ambitious adult female with a s ingle intent. She can pull strings Macbeth easy. This is shown in act 1 scene 5: â€Å"That I may pour my liquors in thine ear† She is altruistic, and wants what is best for her hubby. Before the address that Lady Macbeth gives in act one scene five, Macbeth is resolved non to travel through with the violent death of the male monarch. However, Lady Macbeth manipulates Macbeth’s self-esteem by playing on his manfulness and his courage. This so convinces Macbeth to perpetrate the slaying. It is like a kid who is easy guided. Lady Macbeth knows this and uses this to her advantage. Although Macbeth has the concluding say in whether or non to travel through with the initial violent death, he loves Lady Macbeth and wants to do her happy. Lady Macbeth is the ruling person in the relationship, it seems that she can convert him to make anything every bit long as she pushes the right buttons in act 1 scene 7 line 39 she says: # 8221 ; Art thou afeard To be the same in thine ain act and heroism, As thou art in desire? # 8221 ; This is her inquiring Macbeth whether he has the bravery of his strong beliefs to accomplish what he desires, once more she is playing on his bravery and courage to seek and pull strings him into killing Duncan. On the other manus, as the drama progresses, and Duncan is killed, there is a reversal of natural order, and Macbeth becomes the dominating spouse once more. Lady Macbeth becomes subservient. She becomes hapless and merely a shadow of her former ego. Ambition plays a big function in this calamity. Both Macbeth and Lady Macbeth have hig h aspirations that drive them. Lady Macbeth # 8217 ; s aspiration drives her to pull strings Macbeth into perpetrating the offenses. Macbeth # 8217 ; s ferocious aspiration is present before the enchantresss # 8217 ; prophesies, but, He would neer hold thought earnestly about killing Duncan without the enchantresss or Lady Macbeth. Yet the combination of his ambitious nature, the initial prophesies and his married woman # 180 ; s influence leads him to kill the male monarch. It is Lady Macbeth who states, # 8220 ; Thou wouldst be great Art non without ambition. # 8221 ; Macbeth states that it is # 8220 ; his harassing wickedness: I have no goad To prick the sides of my purpose, but merely Vaulting ambition. # 8221 ; Macbeth # 8217 ; s continued aspiration is present in his wanting to hold a sequence of male monarchs after him. Macbeth # 8217 ; s aspiration is deep within him and because of this, both the enchantresss and Lady Macbeth are able to rock him to evil. It is thi s aspiration that gets him into so much problem ab initio. Once Macbeth putting to deaths for the first clip, he has no pick but to go on to cover up his incorrect behaviors, or hazard losing everything he has worked so difficult for. In the terminal, it all becomes excessively much for Macbeth. He starts to travel brainsick and on the dark of the Duncan slaying many unusual things happen. Macbeth has a vision of a sticker, which so leads him to Duncan # 180 ; s room, Lenox heard shriek, the conditions turns into a ramping storm, the Equus caballuss eat each other and a bird of quarry ( falcon ) is killed by an bird of Minerva. These unusual and unnatural events, particularly the fanciful sticker, show that Macbeth is non to the full in control of his ain actions and is being influenced by immorality. But everyone is responsible for his ain fate. This is an indispensable subject in this calamity. Macbeth chooses to chance with his psyche and when he does this it is merely him who c hooses to lose it. He is responsible for anything he does and must take entire answerability for his actions. Macbeth is the 1 who made the concluding determination to transport out his actions. He made these concluding determinations and continued with the violent deaths to cover that of King Duncan. However where as some facts show that the consequences were all of his ain making, in act 4 he returns to the enchantresss voluntarily to happen out his destiny in order to see what actions he should take. This suggests that the enchantresss did hold a great influence on his actions.

Blood Donation Essays

Blood Donation Essays Blood Donation Essay Blood Donation Essay In conference proceedings of American Marketing Association Services Special Interest Group, Helsinki Finland, June 7-9 Purpose While the Australian-Red-cross-Blood-service has been effective at acquiring new youth donors, in recent years the retention rate has declined. One reason suggested for the lack of loyalty is the emotional ambivalence created by the motivational inflict between approach and avoid motives leading to defection. Method This project explored the motivations and affective appraisals of non-donors, novice, experienced and lapsed Gene-Y blood donors. Responses from 68 young Australians were gained from twelve focus groups. Fledglings Cent-Y donors were ego rather than altruistically motivated. Experienced donors felt little motivational conflict, used cognitive re-appraisal, novice/ lapsed donors experienced higher levels and used emotional suppression and manipulation of the irreverence. Indoors were unable to overcome the high levels of conflict. Research- implications Further research needs to investigate why the non-donors could not overcome the motivational conflict. The role of customer value and social capital could provide useful explanations for this finding. Practical-implications To encourage Gene-Y to donate blood, there needs to be recognition of the non- altruistic motivations for donation to inform marketing strategies. While Gene-Y want o help others, if this comes at too high a price they are less likely to ordinate. Social-implications This research is essential to the provision of a sustainable blood supply in Australia. Without establishing a foundation of donors amongst Gene-Y now there will be a shortage of donors in the future. Originality This paper has identified a new form of emotional regulation; manipulation of the serviceable and egoism rather than altruism as a motivation for blood donation.

Lower the college tuition Essay Example | Topics and Well Written Essays - 1000 words

Lower the college tuition - Essay Example Since education is based upon the ideals of opportunity for all and higher personal advancement, increased tuition costs ruin the promise of education and make it only available to the elite members of society. Education is supposed to be meritocratic in nature and that means that people are accepted into universities and colleges across this country based on their abilities and not the wealth of their parents. Education is the way in which people break through social barriers like class and privilege. Is it true that education is merit-based? Is it true that America’s ideas about higher education are based upon the notion that it allows people to advance, progress and move forward in life? A basic idea behind the sociology of education is that it promotes greater equality and is based upon merit and equal opportunity for all. The expansion of education in the past two hundred years in the United States is an incredible advance which has supposed increased social equality and made society a better place. Less than one hundred years ago, the educational institutions of this country were closed to women, ethnic minorities such as African-Americans and a whole bunch of other social gro ups. What is amazing is that while a long time ago educational opportunities were denied to more than 50% of the population, today education is supposed to be available to all. Education is supposed to promote social equality and when tuition is high and out of reach for many students, it promotes division based on social class and limits the opportunities for many qualified students (Conley, 59-72). Looking at the opportunities associated with higher education, academics Persell & Cookson studied education and privilege. They determined that through education â€Å"the transmission of privilege is central to the reproduction of an

Central Banks Propel Asia Markets Essay Example | Topics and Well Written Essays - 1500 words

Central Banks Propel Asia Markets - Essay Example The loosening of the policy concerning the dollar came because of the slow economic momentum, a factor that prompted the mentioned economies to come to their agreement. The slow economic downturn started as early as November, therefore, an economic intervention was needed to boost the stock markets in Asia, Europe and the other countries, which were included in the financing deal. Critical Analysis It is the job of policy makers to ensure that they set up appropriate policies, which will ensure that the economy is stable and money value is not lost. The policy indicated by the above scenario indicates that the actions by major world economies in the stock market have the capability to influence financial markets in the world. The lowering in dollar financing costs by the major policy deciders in both Europe and the North American continent helped to reduce the risks of global financing, which in turn increases investor confidence in the markets. Therefore, the resultant effect, the r ise in stock markets in the Asian, American and European economies can be attributed to a rise in investor confidence in the stock market. ... expected to benefit other economies, for example, the US, Canadian and European economies witnessed an increase in the indices used in the respective countries. Critical Questions 1. How does the boosting of liquidity in one country affect the stocks in another country? 2. What are the perceived benefits of the increase in liquidity in the Asian economies? Work Cited Turner, Susan. Central Banks Propel Asia Markets, 2011. Web. December 01, 2011. Available at: Portugal Hit by Downgrade and Strike Summary The article â€Å"Portugal Hit by Downgrade and Strike†, by Kowsmann describes two major events that affected Portugal’s economy in the last one week. The article states that the Portuguese economy faced a double tragedy when its debt was downgraded to junk, and a strike paralyzed operations in the country. The nationwide strike was occasioned by growing fears and discontent that austerity measures were pushing the country deep into recession. The second tragedy was the lowering of the country’s debt rating by Fitch’s Rating index, an index that describes the debt-characteristic of various economies. Portugal’s debt rating was lowered from triple-B-Minus to double-B-Plus, which means that the country is considered an ineffective credit controller. This was caused by the country’s perceived fiscal imbalances and debt figures across all sectors of the economy. Effectively, the lowering of the rating indicates that the country is no longer investment worthy, meaning that investors will be scared away from the economy. Critical Analysis The downgrading of the Portuguese economy, accompanied by the nationwide strike is not a stand-alone factor. This is evident from the current debt

Birth of a Nation Movie Review Example | Topics and Well Written Essays - 500 words

Birth of a Nation - Movie Review Example However, some of the scenes depicting the civil war are unnecessarily lengthy while the death of soldiers is shown in a rather funny manner. The movie can simply be termed as a portrayal of the dark side of the cruel and unjust that progresses towards an imminent controversy. While the message delivered by the film is indeed horrible to imagine, especially under modern times, the most notable aspect is that all the black characters in the film were in fact played by white people. The movie is worth noting for incredible camerawork and narrative techniques that provides for an easy understanding even without the existence of any audio (it is a silent movie). The locations used to film the scenes are easily recognizable as most of the shots were taken from a single angle thereby helping viewers recollect locations from previous scenes. Much attention was also given to the interiors thereby making them resemble more like rooms rather than filming sets. While the story aims to present a strong opinion of a section of the society, the enactments are too exaggerated at several places throughout the film. Thus, the movie could have been shorter by many unnecessary and unrelated scenes.

Factors Affecting Firm Size

Factors Affecting Firm Size Before explaining the factors that exert limits on the size of firms, it is very important to understand what a firm is and how do we measure its size. Lets start with a basic definition of a firm. In simple terms, a firm is a legally recognized organization designed to provide goods, services or both to consumers or tertiary business in exchange for money( Sullivan Arthur; Steven M. Sheffrin (2003). Now that we have an idea of what a firm is lets move on to the ways in which we can measure its size. A lot of ways can be used to measure the size of a firm. One can measure its size by the total revenue it generates, but this does not tell us anything about the scope of a firms underlying activity. Another way is value added( i.e.the sum of factor inputs). This gives us a precise measure of activity in the firm , but this data is generally not available from the company. Lastly, there is the number of employees working in the firm, which is the most widely used measure with more than 80 percent of the studies using it (Kimberley(1976, 587). The size of a firm has been measured as per the number of employees working in a firm in this essay. Before we embark on the long list of factors that exert limits on a firms size, lets just see if these limits are just theoretical aspects or do they actually exist. Have you ever wondered why do big companies like Toyota only limit their area of operations to a few sectors like automobiles? Why dont these companies expand in different directions and produce a wide array of products like food products, milk, laptops etc.? Everyone talks about how important size is, but if size was such a great advantage, the smaller companies would have soon disappeared. But as we see around us, this is not happening. If there had been no limits to the size of a firm then there would have been an inexorable concentration of industries and economies until there was only one global firm left. Since this is not happening, this proves that there do exist certain factors that exert certain limits on the size of a firm. Lets study these factors in detail: FACTORS LIMITING FIRM SIZE Diseconomies of scale It is a well documented fact that higher levels of production permit the use of more efficient techniques. They vindicate the investment in cost reducing technologies and allow workers to be more specialized. But however persuasive they may be, returns to scale have their limits. Machines related to two production units can be advantageously pulled together only if they are not employed to their capacities, similarly the law of large numbers becomes smaller and smaller as the firm grows, ultimately leading to increasing cost of production of goods and services for the larger firms leading to diseconomies of scale. Williamson(1975) identified four main categories of diseconomies of scale Communications Failure due to bounded rationality It is impossible to expand a firm without adding hierarchical layers. As information is passed between layers their is a high probability that it gets distorted, reducing the ability of high level managers to make decisions based on facts and leads to declining return to entrepreneurial function. Bureaucratic insularity Williamson argued that as firms increase in size the senior managers are less accountable to the lower ranks of the organization and to the shareholders. They thus become insulated and will strive to maximize their personal benefits rather than the profits of the firm. The consequences are that large firms tend to more easily accept organizational slack and resources are misallocated Employee alienation As firms expand there will be increased specialization, but also less moral involvement of the employees, according to Williamson (1975, 128-129). The decline in moral involvement is due to the difficulty for the employee to understand the purpose of activities as well as the small contribution each employee makes to the totality. Thus, alienation is more likely to occur in large firms. Misalignment of incentives Firms can not compensate their employees perfectly due to a number of limitations according to Williamson (1975, 129-130). First, large bonus payments may threaten senior managers. Second, performance related bonuses might affect the employment contract so that less than optimal behavior is encouraged. The outcome is that large firms tend to pay based on tenure and position rather than on merit. This is especially important in product and process development where the large firms are at a disadvantage to smaller enterprises. Availability of Finance/Capital Every firm at some point or the other needs to employ some external capital to grow. There is a strong and positive relationship between the amount of finance that a firm can raise and the managerial ability and entrepreneurial capital that the firm has, i.e. higher the entrepreneurial capital higher the amount that the firm can borrow. Also, given the existence of capital market imperfections, it would be unwise to assume that finance is never a real problem. It has been generally observed that the average size of firms is larger in countries with better financial markets, suggesting that financial constraints keep firms small. An example in this regard can be of Finland, where the size of the firms are large, despite the countrys small size, as compared to say Spain or Italy because it has a very efficient financial system, as measured by its accounting standards. Role of Government/Judicial Factors Government also plays a crucial role in determining the freedom that the firm enjoys in performing its operations with full capacity. Governments often employ certain regulations which put a limit on the size of the firm. Many costly regulations apply to larger firms (for example the obligation to provide health insurance in the US or Union Laws in Italy). This tilts the playing field towards small firms. Other regulations, such as strong product liability laws, favor the creation of separate legal entities that can avail the protection afforded by limited liability. This further leads to smaller firms. High corporate taxes could also drive many economic activities into the informal sector, and reduce reduce the incentive to create larger firms, this is probably why Italy has so many small firms. It has been observed in certain countries, that the government in order to protect the local market sometimes puts restrictions on the import of certain raw materials or machinery. This puts the firms in such countries at handicap when competing with foreign firm and in turn puts a limit on the size of the firm, as their area of operation remains limited to the local market. An efficient government and legal system on the other hand eases managements ability to use critical resources other thaan physical assets as source power, which leads to establishment of firms of larger size(Rajan and Zingales(1998c)). It also protects outside investors better and allows larger firms to be financed . Finally, an efficient government and legal system reduces coordination costs and allows larger organisations(Becker and Murphy(1992)). Limitations of the market Another major factor that limits the size of the firm is the limitations posed by the market, the expansion of which would require unprofitable price reductions or increase in selling cost. Adam Smith(1776) had suggested that the extent of specialization was limited by the size of the market. If a worker needs to acquire task specific human capital, there is a set-up cost incurred every time the worker is assigned a new task. It is, therefore reasonable to expect workers to perform specialized tasks and to expect a firm to hire more workers when its production process becomes more specialized. Therefore, one would expect not only the extent of specialization but also the size of the firms to be limited by the size of the market that is being served. Security There are always considerations of security to take into account- both security against bankruptcy and security against a takeover bid. The faster a firm attempts to expand, the more it will be driven to accept high-risk investments and the more it may have to rely on fixed interest debt. Both endanger the future of the firm. The failure of a major investment or the high level of fixed charges that a firm is obliged to meet when trade is depressed may bring it to its knees. Too rapid a rate of growth may also expose the firm to the danger of a takeover bid. This may occur if rapid expansion depresses the firms profitability or if it results in high retention of profits and low dividend payments to shareholders.Too low a rate on the other hand, may also attract a takeover bid. A profitable firm with a high conservative management may have a high level of liquidity. A prospective acquirer may feel confident that the funds can be put to more profitable use. Thus, this fear of security m ay also limit the size of the firm in that the firm may not be inclined to accept high risk investments in view of the fixed costs they have to pay off, thus limiting growth. Fear of expropriation Fear of expropriation is also a key factor that limits the size of the firm. This fear has been appropriately analyzed by Rajan and Zingales(1998c) with the help of a stylized model where an entrepreneur has a critical resource with which he wants to produce. In order to produce he has to offer employees access to the resource and its mode of employ. There are constant returns to scale in production but increasing returns to scale in marketing so that a larger firm captures a disproportionate share of the market. The problem is that the property rights of the entrepreneur are not fully secure. As a result he has to limit the number of employees who have access to the resource. The reason is that while he has a noyeaux dur of employees who have specialized to the firms business, have high switching costs, and are therefor loyal, new unspecialized employees on the other hand have low switching costs. If there are sufficient number of them, they will know they can capture a large market share if they band together and make away with a copy of the critical resource. thus, the entrepreneur can employ only a few employees, and has to wait until they specialize and become loyal before admitting new ones. It turns out that not only does this fear of expropriation limit the rate of growth of the number of employees in the firm, it also limits its eventual size. An example in this regard can be taken of the Venezuelan steel company Sidetur, which was recently expropriated by the government. Availability of Technology Sometimes the availability of a particular technology also limits the size of the firm. For example a person may have patented a particular technology and might be the only one who can use it for some time to come. In that scenario a firm producing the same product is handicapped as they do not have the access to the same technology that its competitor has and thus cannot increase its size and becomes stagnant. Another example in this regard can be a strict government policy which does not allow the firms in a particular country to import a particular technology, thereby limiting the size of the firm by not allowing the firm to compete in the global market. Uncertainty Uncertainty plays a crucial role in limiting the size of the firm. It is clear that the seriousness of this problem can be reduced, but only at the cost of additional management effort, which may affect the pattern as well as the rate of growth. This can be illustrated by considering some of the ways in which a firm might respond to uncertainty. One possible response is to increase the variety of goods produced . This would clearly affect the pattern of growth and might increase the managerial resources needed to coordinate the firms activities. Indeed, management problems in a diversified firm might be so acute that they lead either to voluntary disinvestments(can be expanded ;), or to exposure of the firm to a takeover bid.Part of the attraction of a takeover for the predator might also be the profitable sale of subsidiaries of the acquired company to more specialist producers. Another response may be to emphasize short-term projects to the neglect of the long term ones, which agai n would affect the pattern of growth as well as the long term growth rate. Yet another response is to take longer in arriving at investment decisions : for instance, by carrying out more market research before deciding to launch a new product. In this respect different attributes would have a crucial impact on business performance, for the firm that is perfectly risk averse may find that it delays for so long before making a decision that it loses a potential position of market leadership to a competitor. Given the managerial resources available, uncertainty will place a limit on the rate of expansion or size by affecting the volume of managerial services required for a given amount of expansion.