Happiness Is The Ultimate Goal Of Existence

Three California traders pled guilty to wire fraud? Four Merrill Lynch executives pled guilty to fraud in the Nigerian Barge case? It is a competitive market, traditionally described as the economic environment of many buyers and sellers, easy entry and exit for new and old firms, price taking as the standard pricing strategy, as well as the measurement of economic success when marginal revenues are equal to marginal costs.

Exam (elaborations)

Augustines Confessions assumptions and expectations of the competitive market include a level playing field for industries 4 competing for customers — customers who assume that they are privy to all relevant information possible for buying decision making as well as investment decisions for the capital consumer. As described above in the Enron collapse, something that seemed so entirely right about this Fortune 15 Corporation was in fact so profoundly wrong. In the domain of economics and public policy, Enron represents a market failure under the theory of information asymmetry.

It is much easier, perhaps, to analyze a market or firm that declines or fails because of outlying economic indicators — diminishing product demand, failure to innovate, global competition, natural disaster to name a few. However, what is so morally frustrating, and what drives the basis of this study, is that the root of the Enron collapse is simply, yet profoundly, bad behavior. Recently, Hendry described the concept Happiness Is The Ultimate Goal Of Existence market failure within the paradigm of the American enterprise: …even in America, for long the spiritual home of free enterprise and individual achievement, the values that drive that enterprise and achievement have been called into question, as businesses have been treated with a degree of suspicion not seen for nearly a hundred years…Traditional moral principles still matter, and for some people and in some areas they still matter deeply.

But for most people, in most areas of life, they are no longer the only or dominant consideration.

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Increasingly, it seems, we weigh our perceptions of moral duty and obligation against perceptions of Happiness Is The Ultimate Goal Of Existence own legitimate self-interestp. The problem at its most basic level is that somewhere along the road of success, a handful of corporate executives let greed, risk, the thrill of deception, and the lure of excessive and secretive profitability obscure their ethical guidance system. This paper does not look closely into the soul of the person to unveil this problem — I reserve this study for my other collection of essays on go here future manager.

However, in order to understand more fully the nature of the problem of bad behavior and the regulatory windfall by way of Sarbanes-Oxley, we must first examine the theoretical context of the public policy field. With regards to our problem of market failure and SOX, Weimer and Vining say that policy analysts …need a perspective for putting perceived social problems in context.

When is it legitimate for government to intervene in private affairs? Also, understanding the world views of clients and potential opponents enables the analyst to marshal evidence and arguments more effectively. The simplest approach to providing answers involves contrasting public goods with private goodspg. Public goods are identified as nonrivalrous in consumption and nonexcludable in use, or both — the authors refer to the ocean or national defense as a public good.

Happiness Is The Ultimate Goal Of Existence

Private goods on the other hand, are rivalrous in consumption and excludable in ownership use. With regards to the corporate scandals and the government response through regulation, the situation pertaining to public goods might refer to the free information available to the potential investor, such as a 10K report easily obtainable using online databases that specifically publish the financial reports of public companies.

With regards to the private goods associated with the corporate product, consider the private ownership of stock.

Other leaders in the public policy field connect the issues of market failure to the concept of externalities permeating the consumer and provider relationship. Externalities such as information deficits enable competitive failures Bozeman, This information deficit, in the case of corporate fraud, is simply lying, cheating, and stealing.

Weimer and Vining put the information problem into the theoretical context of information asymmetry, in essence, the centerpiece for Sarbanes-Oxley: Information is involved in market failure in at least two distinct ways. First, information itself has public good characteristics.

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Thus, in the public goods context, we are interested in the production and consumption Happiness Is The Ultimate Goal Of Existence information itself. Second — and the subject of our discussion here there may be situations where the amount of information about the characteristics of a good varies in relevant ways across persons.

The buyer and the seller in a market transaction, for example may have different information about the quality of the good being tradedp. In the case of the corporate fraud of the late s and the early s, all of these professional assumptions are in fact null and void, and the consequences are not simply market failure, but the collapse of organizations, livelihoods, retirement funds, and, most importantly, the collapse of investor confidence in the American capital market — a place that was traditionally a good place for positive self-interest where buyers and sellers would grow capital, wealth, and the future.

If you were to look into the historical aspects of SOX, you will generally find biased media related stories of the corporate fraud cases of Enron, WorldCom, Tyco — these are the big ones. In your search you would find feature articles highlighting the crimes of the CEOs and CFOs — the millions of dollars embezzled or the millions of dollars in phony deals, the customized balance sheets, and perhaps you would also read about the largescale cover-ups from accounting firms such as Arthur Andersen, a one-time valiant leading CPA firm grounded in corporate ethics and social responsibility in its founding years.

Amidst all of this bad news, which one might better understand Happiness Is The Ultimate Goal Of Existence reason for government intervention to cure this problem, remain the critics of government that see corporate reform measures, such as the Sarbanes-Oxley Act, as unfair, too costly, or an attack on profitability.

In fact, the research on SOX is predominantly critical of its costs and very soft on its benefits. Costs and their relationship to profitability are indeed important to the financial health of the firm and the evidence is clear from the growth in consulting firms, for example, that have evolved to assist with the heavy compliance mandates of Section which I discuss in detail below and the added staff and services required of public companies and the CPA firms who have also added cost factors to respond to more demand via SOX. According to the co-author of the bill, Rep. Certainly, Wal-Mart and other public companies would enjoy the opportunity to spend this money on profit sharing redistribution of wealth or on a number of capital investments targeted for growth. However, like other regulatory mandates, such as laws implemented to minimize or remove pollution as in the Clean Air and Water Acts, these laws are costs to the firms in the form of taxes or permits.

SOX, with its clear mandate to reform corporate ethical behavior, is Marketing Essay Hypermedia tax-like cost Happiness Is The Ultimate Goal Of Existence, like pollution control, is intended to help the greater good by increasing investor confidence through stronger transparency requirements as well as strict punishments for executive fraudulent behavior.]

Happiness Is The Ultimate Goal Of Existence - and

Chapter 1 starts with a discussion of the subjective approach to measuring well-being and lays the foundation for the empirical work that follows in chapters 2 and 3. This approach has a strong appeal because ancient and modern cultures, and a long tradition in philosophy, view achieving happiness as the ultimate goal of human existence. It also recognizes that humans are the best judges of their own condition. In this first chapter, I discuss some common ambiguities related to the term happiness and outline some of the most common ways in which subjective well-being SWB data is measured. Next, I discuss how reliable subjective well-being data is and what are some of its strengths and weaknesses in the context of economic research. Some major insights from the growing literature on happiness economics are also provided and alternative approaches to measuring quality of life and well-being are suggested in the last section. One puzzle in the happiness economics literature has been that although real incomes have substantially improved over the past 40 years, happiness levels in the United States have stagnated. Happiness Is The Ultimate Goal Of Existence

Happiness Is The Ultimate Goal Of Existence - have

Questions Questions about the meaning of life have been expressed in a broad variety of ways, including: What is the meaning of life? What's it all about? Who are we? What are we here for? What is the nature of reality?

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