Rational Choice Theory Essay

A Significant theory to me will be the Rational Choice theory. This theory explains how people make decisions by seeking the most cost-effective means to achieve a specific goal without reflecting on the worthiness of that goal; to maximize personal advantage by weighing costs against benefits without moral or ethical values. It is a popular theory as it is an efficient system that explains and predicts a behavior of a person, and to larger extent, a collective group of people. Understanding this theory would allow a person to understand quickly how decisions are made, and the impact of the decisions on a society — how it functions and performs economically. Based on this theory, people’s measured decisions are often calculated based on financial benefits and costs. Singapore, by and large, has functioned on this theory, which has benefited from this tool of measurement and prospered since the days of nation building. However, this theory will work perfectly only if eve ryone in the society shares the same values, had perfect information, and the ability to make the most rational decisions at any point in time. People living in a society with homogenous values, such as Singapore, have similar behavioural patterns, which enable this theory to work. However, on a global scale, this theory will no longer work as peoples’ values are varied and culturally diverse. The most rational choice for one man might be an irrational choice for another. And when this occurs, there will be unpredictability and the results that follow can be disastrous. The Great Financial Crisis is a good example of the rational choice theory gone awry. Financial institutions’ goal is to maximize profits. To maximize profits, financial institutions have to find ways to create profits. One of these methods was to get creative with offering mortgage to people who wanted to own homes. Credit terms were made easy and the securities in place to safeguard the process were ignored. These consolidated loans were sold to big investment banks which resold them as securities offering high returns. Credit agencies working for these investment banks told investors’ that securities were safe. Selling a financial product based on a large group on loans was supposed to limit the risk if a few loans went bad. However, a large number of loans, later known as toxic, were borro wed by individuals with no financial means. Furthermore, many of these loans were offered in the form of adjustable rate mortgage, which started out with an initial period of low interest rate, and later ballooned up to three times the initial rate. All these borrowers were saddled with a monthly mortgage payment way beyond their monthly income. To make matters worse, the sprint to own a house on such easy terms had created a housing bubble, causing house prices to escalate astronomically. This phenomenon further pushed people to borrow way beyond their means. Consequently, millions of homeowners were unable to repay their mortgage loans. The financial institutions disregarded moral and ethical values to draw up shady credit schemes. Consolidated mortgages were bundled in with the toxic ones and resold for profits. Individuals felt the need to buy a house simply because everyone else was buying a house without the discretion of affordability and the hyper-inflated housing prices. Ea ch acted on imperfect knowledge to maximize personal benefits and disregard moral and ethical values. Rational choice theory can be an efficient method as a decision-making tool to attain goals, but it is definitely too simple an application on a macro context. To make a good decision, one has to balance cost-benefit analysis with moral and cultural factors.

How and why the royal inscriptions in Persia was used and continued to Essay

How and why the royal inscriptions in Persia was used and continued to be used by achaemenids - Essay Example Writing on paper in that era and place was unknown and the Kings inscribed their story on huge rocks and structures (Livius, 1997). This paper examinees a few os such inscriptions to understand why these inscriptions were made and why the Achaemenid kings continued to use them. Specifically the paper would examine the inscriptions of King Darius I, his son Xerxes and Cyrus II the Great. Till King Darius I came to power, the Achaemenid kings were not regarded very seriously and were restricted to small fringe areas. However, King Darius I who ruled from 522 to 486 BC turned the pastoral Achaemenids to be a force to reckon with. The King achieved a number of victories, encouraged trade to grow and the kingdom became wealthy and rich. To announce his achievements to the world and to ensure that his achievements would remain forever, he had his story of victories carve in stone on tall cliffs and towers, where no one could tamper with them. However, unfortunately no one could climb to the heights and read then since the craftsmen removed all access ledges and walkways. Therefore, the inscriptions were created so that the Achaemenid could leave evidence of their achievements for all posterity. Other kings also were equally vain glorious and also wanted to leave evidence of their achievement for posterity and thus the tradition continued. Paper and Papyrus was not easily available in the Achaemenid kingdom and hence the Kings had to use stone as the media for writing (Livius, 1997). King Darius I came to power after killing king Gaumà ¢ta in 522 BC. He also entered into a deadly civil war that he won and he fought many wars and conquered more and more lands. At the time of his death in 486 BC, the Achaemenid kingdom extended till India and Thrace in Greece. After the victories, King Darius I decided to set up the Behistun inscriptions. Behistun was a village in Iran and has many ancient monuments. The village was situated

Final Essays Essay Example | Topics and Well Written Essays - 750 words

Final Essays - Essay Example Jesse Ventura didn’t talk down to people like Nader did, nor did he have the boring, stifling personality that Ross Perot projected. Ross Perot, it might be said, had some advantages over Ventura. He shared Ventura’s style of â€Å"straight talk† which appealed to a lot of Americans. With his Southern drawl and antebellum charm, Ross Perot was somewhat of an interesting character, especially due to the fact that he liked showing a lot of visuals (i.e., charts) whilst speaking. Perot also appeared more â€Å"serious† about life than Ventura, who most people might not have taken seriously because of his celebrity. Nader possessed the advantage over Ventura in that, he seemed like a more â€Å"serious† candidate, and a well-educated one at that. Ralph Nader is most famous for his exposure of hot dogs not having met FDA standards. Trained in both economics and green living, Nader cares about organizations like PETA (People for the Ethical Treatment of A nimals). These three candidacies show us that the likelihood of a third party in America—even if it were moderately strong—is not enough to defeat the two main parties of Democrat and Republican that are in place. Independent party candidates are not usually serious in scope, and thus, they undermine themselves. 2. E.E. Schattschnieder says "democracy without political parties is impossible." Is he correct? Why? (250 words) Democracy, as Schattschneider said, would probably most likely be impossible without political parties. Indeed, â€Å"†¦E.E. Schattschneider sought to redefine democracy and popular control of government by formulating a concept that has since become known as the ‘doctrine of responsible party government.’†1 Basically, without political parties, the best way that the government would be described is total anarchy. There would be complete chaos without political parties because it would be â€Å"every man for himself.† To be more politically correct, one could also say it would also be â€Å"every woman for herself.† Indeed, political parties in a democracy serve to help checks and balances stay in effect. The fact that there are two opposing political parties is ideal in the sense that one party can check the other by not allowing certain actions to happen based on the way the parties vote strategically in both houses of Congress—the Senate and the House. On the other hand, one of the disadvantages is not necessarily with not having parties, but with having two parties only—which many times makes politics in the United States a polarizing, partisan, all-out, knock-down, dragged-out war. Both political parties, the Democrats and the Republicans, equally believe in their opinions. The problem is that many times, neither side wants to make concessions in order to get deals made and laws passed because both sides always have scruples when it comes to getting their particular leg islation passed. To this end, it is hoped that in the future both sides collaborate. 3. According to "Toward a More Responsible Party System All Over Again" is there a need to re-conceptualize and restructure our party system to establish programmatic-based political parties, disciplined parties, and party responsibility? (270 words) There is a dire need in the United States to definitely re-conceptualize and restructure the existing party system in this country. All types of parties should be considered as long as they only serve to help people and espouse a noteworthy cause or group of

The case for Bainbridge Borough Essay Example | Topics and Well Written Essays - 500 words

The case for Bainbridge Borough - Essay Example First and foremost, this person will undergo intensive labour to deliver the baby. This entitles the person to have some time to rest in order to be able to recover from the pain likely to be experienced during the period of giving birth. Secondly, the mother needs to nurse the newly born baby by suckling her and providing other necessary gentle care. Instead, Carol was offered two consecutive 90-day reasonable purpose leaves which amounted to 6 months of leave. This is a relevant contract provision which states that leaves of absence for a limited period without pay—not to exceed 90 days—shall be granted for any reasonable purpose. What Carol wants is leave to be with her adopted baby so this unpaid leave is just as good as maternity leave. In other words, it can be seen that Carol just wants to be controversial over nothing since she has been given another alternative to maternity leave which is specifically meant for mothers who have given birth naturally. 2. As an attorney for AFSCME Local 10, I think the council’s rejection of Carol’s unpaid maternity leave request violated the collective bargaining agreement. Article X, Section 4.A which deals with issues related to maternity as indicated by the final agreement between Bainbridge Borough and Local 10 state that maternity leaves not to exceed 6 months shall be granted at the request of an employee. As stipulated in this provision, it can be seen that Carole has requested for the leave, therefore she should be granted the opportunity to get it. Maternity leave covers various issues related to child bearing and rearing hence Carol should also be granted this leave since she intends to take care for her newly adopted baby. The baby needs mother care and this is the reason why I believe that Carole should be granted the leave. The refusal by the council to grant Carol this leave can be regarded as discrimination since the law is very clear that this leave can be granted to the

Theme 2 Essay Example | Topics and Well Written Essays - 1000 words

Theme 2 - Essay Example The â€Å"Tale of Kieu† is a typical example that exemplifies the concept of morality within a literary piece. The poem tackles the concept of morality in differing dimensions as displayed by different characters in the play. Depending on one’s school of thought in evaluating the concept of morality, â€Å"The Tale of Kieu† can largely be considered as an immoral piece that exposes the societal immoral acts through relationships and promises in a larger societal set up. My argument to justify this line of thought is largely influenced after examining the characters and behaviors of the main protagonist, Kieu, Kim and Thu and their liberal actions in the entire poem. I therefore strongly argue that â€Å"The Tale of Kieu† points out the conflicting merits imposed on people and the way these merits affected their immoral lives in the years to come. (Du) Morality is one of the key themes in controversy of events surrounding â€Å"The Tale of Kieu†. It is a usual thing that fundamental moral acts largely involve the keeping of promises, being steadfast during times of opposition, and due unselfishness concerning being accommodating to others opinions and suggestions. Emanating from that basic understanding one may be at a crossroads in solving the moral equation of Kieu and other characters as exemplified in this poem. As such, one would commonly ask, is â€Å"The Tale of Kieu† an ideal moral poem? In my personal opinion, the poem just displays how many people in the real world can do â€Å"whatever they can get their hands on† so that they get what they desire even if their actions considerably affect those around them. The fascinating evidence in the story undoubtedly justifies my line of thought, as â€Å"The Tale of Kieu† is not that moral piece as some may argue. For instance, Kim Throng is displayed as a young, brilliant of mind man who desires Kieu. He is riches and sets out to love Kieu. In one instanc e, we are told how the two lovebirds go out to bond their relationship. Kim pours out his heart to Kieu and asserts, â€Å"Let's pledge our troth with something† (line 341) which Kieu responds, â€Å"to your kind bosom†¦ I’ll etch your word, our troth, in stone and bronze.† (Line 352) The above statement sought to re-affirm each other’s promise. Kieu further consolidates this promise by saying that â€Å"while am alive you’ll sometimes get your due† (line 522) suggesting a long trusted mutual relationship between the two lovers, and their intention of keeping the promise and living by the morality principle they swore. However, on their first date, we see Kim making sexual advances towards Kieu, was this action justified, being that both of them were not married? Keeping this purity until marriage was a noble thing to do as they both made vows to each other. In fact, it takes the efforts of Kieu to remind Kim of the noble vow they swore that they would keep the sexual affair issue until marriage. Immediately two issues emerge from the above analysis, Kim considerably displays immoral acts while Kieu is the moral one trying to live by the principles of their vow. The moral principle requires making a promise and keeping that particular promise irrespective the social circumstances and situations one finds him or herself. Kim and Kieu had made a promise to marry each other and

Philosophy ( Against Bioethics) by jonathan baron Essay

Philosophy ( Against Bioethics) by jonathan baron - Essay Example This essay will explore the meaning of QALY in bioethics. A QALY is an initial of the terms quality-adjusted life year. It refers to a measure of health outcome values and includes quality and quantity of life lived. QALYs measure an individual’s expected life years in both healthy and unhealthy conditions. To determine the value of QALY, one multiplies the utility value associated with a state of health by the number of years the individual lives in that state. The calculations involved in finding out how QALYs are measured are as explained below. QALYs were first introduced by the researchers and decision analysts in the United States of America. Quality-adjusted life year is used in assessing the monetary value of a medical intervention. This model is based on the life period that would be added in the intervention. Yearly, if an individual is in perfect health, they earn a value of 1.0 up to 0.0 for death. However, in cases where the patient incurs some unhealthy conditions that may be long lasting, then a value of between 0(years) and 1(year) is assigned to account for the unhealthy condition. Some of the conditions may even include blindness and physical challenges to the body which may even lead to individuals using wheel-chairs. Baron argues that applied bioethics lacks the element of a coherent theory, and for this fact; it is largely based on judgments that are intuitive. He continually proposes the fact that bioethics could have a coherent theory based on decision analysis and utilitarianism. The utilitarianism factor defines the best option as the one that gives the best output. Such a theory makes bioethics yield the best results in relation to the people involved. Furthermore, Baron argues that the recent practices involved in bioethics should be avoided. He also notes that with the combination of utilitarianism and decision analysis, bioethics can achieve most out of it by

Philosophy - Social Justice Essay Example | Topics and Well Written Essays - 1000 words

Philosophy - Social Justice - Essay Example This is because the definitions vary basing on a variety of factors, like political factors, religion, and the social philosophy. From a postmodernist point of view, one can get a definition that is only a concept that may never be practical anywhere in life. In general, Boylan (p. 91) writes that social justice is more of equal justice, not only in the judicial system, but in all other aspects of the society. From this concept, we can say that social justice demands equal rights and opportunities for everyone regardless of the social status. Therefore, we can sum up by saying that social justice is an idea which involves fashioning a society or an institution basing on the principles of equality and solidarity. This system understands the values of human rights with recognition of every individual’s dignity. Generally, social justice bases on the concepts of human rights and equality. It also involves economic egalitarianism. This is through progressive taxation, and redistri bution of property and income. Through such policies, it is easier to attain equality in opportunity, hence creation of outcome equality. In order to create a just society from the perceptive ‘privileged society’, where not every individual has equal opportunity to enjoy the freedom that people share, one must be ready to learn more about the issues of social justice like tolerance, equity and diversity promotion, and fighting hatred, among others. It is easier to act after educating oneself about the issues of social justice. Secondly, it is not easy to achieve the social justice that on desires without incorporation from the general society. It is, therefore, imperative to get help from the general people in the society. Joining a social justice group, which will stand up to hatred in all forms, will engage the community in a process that will build the society towards respectful, safe and fair environment. With this, one will get the support that will help in creatin g a firm foundation towards achievement of the just society (Boylan, p. 93). One must understand that they can not come up with a just society without learning from others. This is because a just social system recognizes all forms of diversity, be it cultural, economic or any other form. Therefore, it is important for one to learn to leverage the benefits of diversity surrounding them. One can expose themselves to other cultures, eat and intermingle with other people in the society, read about different cultures, subscribe to other cultures and open ones mind to diverse perspectives around them. Through this, one will learn about the challenges that they will have to overcome in order to justify all the social needs in the diversity among the people in the society. It is also important for one to take challenges, like asking oneself if the immediate friends reflect what a just society is. One can ask themselves if friends around portray the diversity of genders, races, cultures, age s, political affiliations, and any other relevant aspects of diversity. In order to achieve a perfect framework of social justice, one must open the mind and heart to experience people with other perspectives and insights that will or may be challenging, while some may be interesting. Such diversification will eradicate issues of discrimination and will ensure achievement of a liberal society. A perfect view of a just society will have socially responsible