Saturday, December 28, 2019
Social Workers And Social Work - 2173 Words
Social workersââ¬â¢ commitment to social justice means they want everyone to have a fair and equal opportunity to an assessment. In line with fairness, social workers should tell carers about their right to refuse an assessment as their permission, and not the person receiving care, is needed before the carerââ¬â¢s assessment can commence. In addition, social workers, bound by legislation regarding confidentiality and information sharing, must reserve the carerââ¬â¢s right to privacy whilst uphold their right to a fair hearing. This is achieved by only disclosing carerââ¬â¢s personal details to 3rd parties with consent, unless a safeguarding concern arises. A social worker is obligated to report suspected abuse or neglect of a vulnerable adult as under section 42 of Care Act 2014 safeguarding regulations this is a reasonable cause for a Local Authority to conduct an enquiry (Care Act, 2014c.23:P1:s42). Hence, even when working with family carers, social workers remain vigilant as according to Age UK (2016) 50 vulnerable people per hour are abused or neglected within their own home by people known to them. Accountability could explain social workersââ¬â¢ preference to undertake the assessments of both carer and who they care for at the same time as discrepancies, like those which may cause alarm, can be clarified easier by working simultaneously with the carer and ââ¬Ëpatientââ¬â¢ (Knapp and Hewison, 1999). Likewise, Campbell Reay and Browne (2001) state that in-depth knowledge of the carersââ¬â¢Show MoreRelatedSocial Workers And Social Work Essay1165 Words à |à 5 Pages In today`s society, social work as a profession has changed enormously over time. Many interviews, samples and surveys from individuals have been taken over the years about the perception of social workers. Earlier samples of surveys and interviews have shown that social work was not always a popular profession, but now social workers are popular publicly. The public as in people now has a better understanding of social work. Studies showed that numerous of people do not quite have a full understandingRead MoreSocial Workers And Social Work1684 Words à |à 7 Pages At the heart of social work most social workers consider their social work values as one of the most crucial principles of the social work profession (Higham 2006). The recent report of the social work taskforce sets out a vision of social work for a profession confident about its values, purpose and identity (Social Work Taskforce, 2009, pg61). Generally, the term value is viewed as particular beliefs or principles an i ndividual may hold deemed worthy or valuable (Banks,S, 2006). BASWA 2012 definesRead MoreSocial Workers And The Social Work Essay1706 Words à |à 7 PagesSocial workers are caregivers, they provide assistance to people in need, and they address social problems. The social workerââ¬â¢s goal is the improvement of society to better the lives of individuals in need. The social work professional mission is to enhance the well-being of people and to assist them in meeting their basic needs, with particular emphasis on the needs of the poor, and the vulnerable individual. The Social Work profession has six core values. Social workers incorporate these core valuesRead MoreSocial Workers And Social Work950 Words à |à 4 Pages The social work profession is a profession that is created with educated professionals, social workers, which make important contributions to society by helping societyââ¬â¢s most vulnerable individuals, families, and groups. Social workers assist vulnerable populations with enhancing their social functioning, meeting their needs, and solving problems. Social policies are a key component in the success of the social workers ability to help the vulnerable. ââ¬Å"Social policies are the laws, rules, and regulationsRead MoreSocial Workers And Social Work1377 Words à |à 6 PagesSocial Workers Issues We are the present. The future is our children. We all have some child(ren) in our lives whom we love dearly and would probably die for them. They are our future. Many of those children need help; mental, emotional, and physical help. If these children do not receive help, our future will be worse than the present is now. Social workers can help fix that. In the last paper, I addressed the issue of social status/work. The work status fluctuates greatly pending on the fieldRead MoreThe Social Work Of A Social Worker1585 Words à |à 7 PagesAs a social worker, we are essentially given the opportunity to utilize our past and personal experiences, educational background, and diverse relationships to make a difference in countless peopleââ¬â¢s lives. Whether we choose to dedicate ourselves to practicing micro or macro social work, we can influence the outcomes of social policies, assist clients with obtaining basic necessities, or change a personââ¬â¢s thought processes by applyi ng psychosocial theories as necessary. However, we are obligatedRead MoreThe Social Work Of A Social Worker1551 Words à |à 7 PagesUnder the social work profession, social workers embrace the principle of social justice and are committed to work toward achieving social change. In direct practice, social workers work with individuals living in poverty and subjected to all sorts of injustices. In social work, practitioners work in partnership with clients, when coming up with possible solutions to the presenting problems. It is important that in the process, social workers remain with a nonjudgmental attitude and look at howRead MoreSocial Work As A Social Worker1414 Words à |à 6 PagesWhat makes social work idiosyncratic unlike the rest is the willingness and passion to promote human well-being. I yearn and hunger to see growth of what is already innate. That is the reason psychology became my undeclared major. My ignorance of the social work role did create misconceptions and fears. I knew I had to be in some helping profession. I was not sure if I would do so through occupational therapy, psychology, teaching, or social work. I wanted to be a social worker, but I wasRead MoreSocial Worker And Social Work Essay1076 Words à |à 5 Pagesdefinition of what social work is. My view of social work was based off of movies that portrayed social workers as individuals who only worked with children. In these movies, the social worker was known as the Child Protective Agent and was called in when a child or children were being mistreated. After taking this course, I now know that my idea of a social worker, although right, was only the tip of an iceberg. The social worker does not only work with children, they work within a large social system thatRead MoreSocial Work : A Social Worker1033 Words à |à 5 Pagesbecome a social worker. Social work is a professional and academic discipline that works to improve the quality of life and enhance the wellbeing of individuals, families, couples, groups, and communities. Heather Holland is a Social Worker at Uniontown Hospital who has over 12 yearsââ¬â¢ experience in the field. She explains that a typical day on the job is far from easy. ââ¬Å"Days in this career are crazy, busy, and mostly, undeterminedâ⬠Holland explains of her days on the job. Social work is a very
Friday, December 20, 2019
Global Warming And Its Effects - 976 Words
As global warming, we understand that is the rise in the average temperature of Earthââ¬â¢s atmosphere and oceans. It has been an immense concerning all over the world for the past decades since the current cycle of global warming is changing the rhythms of climate that humans, animals and plants rely on. Scientists have studied the natural cycles and events that are known to influence the change in climate to discover what is originating the current global warming. However, the amount and pattern of warming that has been measured on the planet cannot be explained just by natural factors. Therefore, it is impossible to neglect the influence of greenhouse effect, brought about the increased levels of greenhouse gases, due to the effects of different aspects as the burning of fossil fuels, agriculture activities, deforestation and the growth of population (2007). These greenhouse gasses are endangering important and necessary aspects of life and its consequences will affect each one of us. The primary greenhouse gas in earthââ¬â¢s atmosphere responsible for the most global warming is carbon dioxide (CO2). According to the Intergovernmental Panel on Climate Change (IPCC) on the same national geographic report, other contributors include methane released from landfills in agriculture, nitrous oxide from fertilizers, industrial processes, and the loss of forests that would otherwise store CO2 (2007). Most greenhouse gases come from the combustion of fossil fuel, energy generationShow MoreRelatedGlobal Warming And Its Effects985 Words à |à 4 PagesEnvironmental Science Professor Mahoney 11/11/14 Global Warming Over the last few decades global warming has become one of the biggest environmental issues of all times. Every year, global warming gets worse and itââ¬â¢s affecting the way people live, it is affecting the atmosphere in general, and other living organisms in our planet. Global warming is the gradual and increasing rise of the overall temperature of the Earth caused by the greenhouse effect due to the increased levels of carbon dioxide andRead MoreGlobal Warming And Its Effects Essay1040 Words à |à 5 PagesGlobal warming is directly causing the rise in temperature of the Earth. The melting of the polar ice caps causes some of the most pressing issues including the endangerment of species indigenous to this region and the rise of ocean levels. Global Warming Global warming is the steady rise of temperature of the Earthââ¬â¢s surface. What exactly causes global warming? Numerous sources fuel global warming, such as deforestation, permafrost, and even sunspots. Obviously, many factors contribute to thisRead MoreGlobal Warming And Its Effects1331 Words à |à 6 PagesGlobal Warming Global warming is the causation of the Glaciers melting, sea levels rising, cloud forests drying, and wildlife struggles today. Humans are making this possible because of their release of heat-trapping gasses known as greenhouse gasses by their modern devices. Global warming is the abnormal speedy increase in the Earthââ¬â¢s average surface temperature. It is believed that this is due to the greenhouse gasses that people release into the atmosphere by burning fossil fuels.The greenhouseRead MoreGlobal Warming And Its Effects1571 Words à |à 7 PagesAs global issues today become increasingly controversial, many people are inclined to believe that Global Warming is an issue that can take a backseat to more significant issues that plague todayââ¬â¢s society. The information presented throughout my research in regards to the rising sea levels and the melting of glaciers and ice shelves, highly indicates that it cannot. What many Americans fail to realize is that if sea lev els continue to rise due to Global Warming, then more than half of LouisianaRead MoreGlobal Warming And Its Effects1544 Words à |à 7 PagesGlobal warming is one of the vigorously discussed topic on Earth today. According to a TechMedia Network, ââ¬Å"Global warming is the term used to describe a gradual increase in the average temperature of the Earthââ¬â¢s atmosphere and its oceans, a change that is believed to be permanently changing the Earthââ¬â¢s climate.â⬠(ââ¬Å"Global Warming â⬠¦ Effectsâ⬠). We have been witnessing the change in Earthââ¬â¢s climate since past few years, and we are well aware of the consequences of climate change as well. Global warmingRead MoreGlobal Warming And Its Effects1432 Words à |à 6 Pageshas an effect on climate change and contributes to global warming. Yet people tend to turn a blind eye to global warming and label it as a myth, whether they do not believe in it or it is not in their best financial interest to believe in it. Let us take a closer look at global warming and the effects it has on our people, homes and environments. Global Warming has become a rising problem in our worldââ¬â¢s climate. Itââ¬â¢s time we show the initiative to understand the concept of global warming and showRead MoreGlobal Warming And Its Effects928 Words à |à 4 PagesGlobal-Warming Mother Earth is burning as we speak; humanity has killed our precious Earth. Global-warming is a vicious killer that was created by the humans on this Earth, and there s no way to cure it. We, as humans, have the power to cleanse the Earth, but instead we destroy it. Heat is absorbed by carbon dioxide and greenhouse gases. A greenhouse gas absorb thermal radiation emitted by the Earth s surface. As the sun s energy reaches the Earthââ¬â¢s surface some of it goes back out into spaceRead MoreGlobal Warming And Its Effects1416 Words à |à 6 Pages Global Warming The earth is getting warmer, animals and their habitats are declining, human health is at risk and the cause of all this terror is Global Warming. Global warming will cause many parts of the world to change. In the next 50 years climate change could be the cause of more than a million terrestrial species becoming extinct. Sea levels will raise which means more flooding and is not good for the plants. With too much water the plants will die and herbivores will lose theirRead MoreGlobal Warming And Its Effects1312 Words à |à 6 PagesGlobal warming is presenting a lot of environmental and health problems to many countries. A lot of heat gets trapped on earth due to formation of a non-porous layer gases below the atmosphere. The worst effect is felt by developing countries, which are also geographically disadvantaged. The establishment of such countries is on low altitude areas. This position makes developing countries to be direct victims of floods from the melting snow at high altit ude areas. A lot of scientific research associatesRead MoreGlobal Warming And Its Effects1512 Words à |à 7 PagesGlobal warming is one of the most alarming and pressing issues that the world faces today. Global warming is the rise of the earthââ¬â¢s temperature over time. The damaging effects of global warming have become more and more apparent, with more tropical storms and hurricanes causing massive destruction, more animal species losing their habitats and coming under threat, rising sea levels, etc. According to NASA, the hottest year on record was 2005, which was the same as 1998. In the last ten years, twice
Thursday, December 12, 2019
Ethical Communication for Business Organization-Free-Samples
Question: Select an organisation with offices in Australia and research the organisation in order to compile a comprehensive report that outlines the following: What the organisation does and a brief history What industry it is in and what are the specific characteristics of this industry How the organisation is performing (financially, or in terms of market share, reputation) How does the organisation manage its communications How the organisation is perceived publicly Answer: Introduction Hungry Jacks, a renowned fast food organization, a franchise of the international Burger Kings Corporation and owned by Jack Cowin has its outlets in over 300 locations across the Australian continent. The fast food company is further known as the second largest franchiser of the Burger King. The primary products sold by the company are sandwiches and burgers, which called Whooper and the Tendercrisp (Hungryjacks.com.au 2018). Hungry Jacks has been known for its commitment and dedication of nurturing sustainable business operations. The restaurant claims to serve the best quality and innovative food items further enhancing their customer base. The report will briefly evaluate the overview of the fast food industry by further highlighting Hungry Jacks background and its operations (Wellard et al. 2015). The paper will further explore the economic performance along with its market share and reputation in the fast food industry. In addition to this, it will focus on the way Hungry Jacks maintain its communication processes through several communication channels of advertising and digital communication. Lastly, the paper will provide an insight of the way the company is perceived by the public. Discussion Company Background and Operations Hungry Jacks has been operating in Australia since early phase of 1970 with its first outlet opened in a suburb of Perth. It has been noted that the initial achievements of the company has led to a rapid development. The company has its ownership as well as operations of Burger King or Hungry Jacks fast food chains in Australia (Food and Council 2014). The company being known as the chief franchise for Australia, Hungry Jacks has been accountable for licensing recent proponents and further establishing its own flagships and further maintaining standard supervision of the franchised locations within the Australian region. It has been noted that the name Hungry Jacks was initially a variant of Hungry Jack that is a brand of Pillsbury which had its registration for a pancake mix (Wellard et al. 2015). However, the company was later selected by an Australian franchisee Jack Cowin when he intended to seek the unavailability of the Burger King brand in the country. Industry Overview Hungry Jacks being the leading fast food restaurant chain is regarded as one of the dominant operators of the Australian fast food industry. The fast food industry has been reportedly reached over 110 billion in 2016, with a compound annual growth of 3% that further indicates a general developed market (Allegretto et al. 2013). The fast food industry has a revenue generation of over $550 billion that is considered higher than the financial worth of the majority of the nations (Lacy and Rutqvist 2016). The revenue rate in Australia has been recorded of $200 million in 2016 that is considered an elevated rate since the revenue generation of the past two decades (Moodie et al. 2013). The industry is anticipated to acquire an annual growth of over 2% for the following years. In recent times, the company has been acclimatizing to the increasing demand of food, which must be meeting health and quality standards. The consumer health awareness has altered the fast food industry over the past few years. The Australian fast food industry currently has experienced dynamic expansion because of the increased number of preferences of people towards restaurants and fast food chains . Fast food chains along with independent outlet were offering around 1.7 billion of takeaways and meals in the corporate foodservice sector (Wellard et al. 2015). The Australian fast food industry has witnessed a dynamic annual average GDP growth rate of almost 3% during the period of 2012-15 (De Vogli, Kouvonen and Gimeno 2014). However, it must be noted that the industry currently has been encountering a decline since the last two years and noted a decreased development rate of 0.8% in 2016. The logistics of food service and business within the sector have been recognized as significa nt factors. The whole fast food industry is largely been dominated by Quick Service Restaurants (QSR) that is held accountable for over 70% of the revenue generation of the whole fast food industry. The key players of the fast food industry are Hungry Jacks, Dominos Pizza, Donut King, Eagle Boys whereby Hungry Jacks possesses the most varied profile (Allegretto et al. 2013). It must be noted that the majority section of these large organizations have the beneficial factor of economies of scale, that is exhibited in the industrys enduring effort to offer reasonable priced value food items to their consumers. Hungry Jacks Organizational Performance (Economic, Market Share and Reputation) According to several reports, Australians spend over $1.2 billion in a year at fast food restaurants. Hungry Jacks in Australia owns over 400 outlets in Australia with an employee base of more than 15,000 people (Hungryjacks.com.au 2018). The company has recently experienced a profit of around $25 million, noting a 29% decline on its previous years revenue generation (Hungryjacks.com.au 2018). Australians spend about $25 billion annually on takeaway food as reported by investment bank UBS in December. Furthermore, Dominos its competitor has recently revealed a 27.8% increase in sales to $1.15 billion, whereas the biggest rivalry Mc Donalds exposed the gross sales of $5 billion (Lacy and Rutqvist 2016). As per the revelations of Australian Securities and Investments Commission, the competitive and fast food chains along with some KFC stores in Australia made a profit of around $20 million from $1 billion in profit in 2014 (Allegretto et al. 2013). However, Hungry Jacks has been known to dominate the fast food market, but elevated diversification is likely to restrain their revenue generation (De Vogli, Kouvonen and Gimeno 2014). Along with the fast food company has been concentrating on waste reduction in order to minimise costs while larger organizations contract directly with the suppliers to circumvent the wholesale growth. The fast food company has claimed to have experienced several backlashes in order to establish on the value and quality it is recognised for. The brand introduced its new supreme Grill masters range thereby marking the establishment of a menu refurbishment that will further aim to strengthen the reputation of the company for its Better beef (Hungryjacks.com.au 2018). Hungry Jacks is further recognized for its brand image that ascertains 1000% pure Aussie beef along with no added HGPs in the preparation of its burgers. The company further revealed its recent enduring strategies in order to reassesses its consumer demands and expectations and further adapt to the altering preferences of its consumer base. The fast food company in order to maintain its brand image and tagline The burgers are better at Hunger Jacks, has assured its dedication and commitment of keeping their items better at everything that is present on their menu, along with its store experience and the appearance and fe el of its outlets. Recent reports and articles reveal that the reviews and feedbacks of customers have been enchanting and facilitating to enhance their brand value and loyalty (Lacy and Rutqvist 2016). The company has been continuing to reinvent itself and further attempt to reflect better customer demands and enhanced transparency. Hungry Jacks Unique Communication Process The company being recognized as an iconic brand committed in delivering valued and quality products since it has established its business in Australia. Being a brand of proving consistent high standard customer service, the team has resolute to introduce improved approaches to reach their buyers and thus started to develop an improved social media strategy that incorporated social networking sites namely Facebook, Twitter and Pinterest (Hungryjacks.com.au 2018). Hungry Jacks has been employing Radian6 in order to listen and further track their efforts and further raise their level of engagement with the customers and provide them with productive insights into their endorsement and promotional activities (Wellard et al. 2015). The company has further introduced their major brand promotion by bring in the tagline Keeping it Real. The campaign was accounted for parodying the foodie culture that has been the trend of recent times thereby dominating the major part of Australia (Lacy and R utqvist 2016). The amount of expenditure spent by the company has been minimal to track, as their consumers owned a common base across the numerous social media networks. Furthermore, sourcing services from Fiverr.com, the company has managed to achieve its social media followers to employ one of the TVC stars, that is Axel, the dog with the owner who has been rewarded $5 for the image of Axel (De Vogli, Kouvonen and Gimeno 2014). The companys experiment of $5 has resulted a rise in the level of social media engagement of the company that is over 250,000 customers, producing considerably increased conversations among the users of Facebook on the initial book of the $5 Experiment as well as attracting millions of recent Facebook followers along with YouTube video views (Allegretto et al. 2013). The social media endorsements have been vital to the fast food companys brand image, further permitting the company to receive instant customer reviews and feedbacks. Through the massive socia l media implementation, the company has managed to witness a growth of over 50% since 2016 (Freeman et al. 2014). Public Perception on Hungry Jacks Hungry Jacks though being the leading fast food chain in Australia is being incompetent to maintain a renowned reputation lately. The company must take its accountability to keep effective supervision of its employee base. Hungry Jacks has posed no compulsion to seek to have the debtor organization that would consider the employee responsibility taking into account the commencing procedures. The company has been Australians favourite because of its high quality food. The fast food outlet has recently been in the light of media regrading work permit of foreign workers. The ministry of immigration and border protection recently has made an announcement of terminating the employment agreement of fast food industry whereby, foreign labourers are prohibited to work in their outlets (Lacy and Rutqvist 2016). Since the contract was announced, only 400 foreign labourers have been granted visas for employment in the Australian fast food industry (Doherty 2018). The Australian employees specif ically the youth population of Australia have been provided with utmost priority and has been guaranteed of productive career pathways to the young Australians. As the result, Hungry Jacks has intensively focused on employing young Australians recruits further giving them greater opportunities and career growth. Thus, the company recently has gathered a lot of attention from the countrys people further enhancing its brand image as well as employee retention. Conclusion Therefore, from the above discussion it can be concluded that Hungry Jacks has been dominating the Australian fast food industry for decades and thus performing effectively to maintain its brand image to retain its customer base. The paper effectively evaluated the organizational overview and background of Hungry Jacks. Furthermore, the report explored the characteristics of Australian fast food industry. In addition to this, the paper shed light on the communication procedures of the company by focusing on its social media implementation. The report has also examined the economic performances of Hungry Jacks by evaluating its growth of revenue generation in relation to market share and public reputation. Lastly, this paper has concentrated to the public perceptions of the company by reviewing its recent news and articles References Allegretto, S.A., Doussard, M., Graham-Squire, D., Jacobs, K., Thompson, D. and Thompson, J., 2013.Fast food, poverty wages: The public cost of low-wage jobs in the fast-food industry. UC Berkeley Center for Labor Research and Education. De Vogli, R., Kouvonen, A. and Gimeno, D., 2014. The influence of market deregulation on fast food consumption and body mass index: a cross-national time series analysis.Bulletin of the World Health Organization,92(2), pp.99-107A. Doherty, B. 2018.Fast-food chains barred from using foreign workers on 457 visas. [online] the Guardian. Available at: https://www.theguardian.com/australia-news/2017/mar/02/fast-food-chains-barred-from-using-foreign-workers-on-457-visas [Accessed 25 Apr. 2018]. Food, A. and Council, G., 2014. Quick service restaurant initiative for responsible advertising and marketing to children.Australian Food and Grocery Council. Freeman, B., Kelly, B., Baur, L., Chapman, K., Chapman, S., Gill, T. and King, L., 2014. Digital junk: food and beverage marketing on Facebook.American journal of public health,104(12), pp.e56-e64. Hungryjacks.com.au. 2018. Hungry Jack's - About Us. [online] Available at: https://www.hungryjacks.com.au/about-us [Accessed 25 Apr. 2018]. Hungryjacks.com.au. 2018.Hungry Jack's - About Us. [online] Available at: https://www.hungryjacks.com.au/about-us [Accessed 25 Apr. 2018]. Lacy, P. and Rutqvist, J., 2016.Waste to wealth: The circular economy advantage. Springer. Moodie, R., Stuckler, D., Monteiro, C., Sheron, N., Neal, B., Thamarangsi, T., Lincoln, P., Casswell, S. and Lancet NCD Action Group, 2013. Profits and pandemics: prevention of harmful effects of tobacco, alcohol, and ultra-processed food and drink industries.The Lancet,381(9867), pp.670-679. Pettigrew, S., Rosenberg, M., Ferguson, R., Houghton, S. and Wood, L., 2013. Game on: do children absorb sports sponsorship messages?.Public health nutrition,16(12), pp.2197-2204. Savitz, A., 2013.The triple bottom line: how today's best-run companies are achieving economic, social and environmental success-and how you can too. John Wiley Sons. Webster, J., Trieu, K., Dunford, E. and Hawkes, C., 2014. Target salt 2025: a global overview of national programs to encourage the food industry to reduce salt in foods.Nutrients,6(8), pp.3274-3287. Wellard, L., Havill, M., Hughes, C., Watson, W.L. and Chapman, K., 2015. The availability and accessibility of nutrition information in fast food outlets in five states post?menu labelling legislation in New South Wales.Australian and New Zealand journal of public health,39(6), pp.546-549. Wellard, L., Havill, M., Hughes, C., Watson, W.L. and Chapman, K., 2015. Energy?dense fast food products cost less: an observational study of the energy density and energy cost of Australian fast foods.Australian and New Zealand journal of public health,39(6), pp.544-545.
Wednesday, December 4, 2019
Features of Mercantilism free essay sample
Trade In the first place the mercantilists laid great emphaà ¬sis on a favourable balance of trade. They held that the strength and richness of a country depends on two things-the possession of gold and silver mines and favourable balance of trade. As all the countries did not possess mines of gold and silver, they could built up rich stocks of these metals by exporting maximum of their manufactured articles and importà ¬ing minimum of commodities from other countries. Highlighting the imà ¬portance of foreign trade Thomas Mun wrote: The ordinary means. o increase our wealth and treasure is by Forign Trade. This ought to be encouraged, for upon it hangs the great revenue of the king, the honour of the kingdom, the noble profession of the merchant, the school of our arts, the supply of our poor, the improvement of our lands, the nursery of our mariners, the walls of the kingdom, the means of our treasures, the sinews of our wars and the terror of our enemies. We will write a custom essay sample on Features of Mercantilism or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For the maintenance of a favourable balance of trade the mercantilists favoured commercial regulation. They insisted on discouraging the imà ¬ports through imposition of heavy duties and prohibitions on foreign goods. On the other hand, the exports should be encouraged through bounties and other artificial stimulation of domestic agriculture and indusà ¬try. For the promotion of the countrys trade a number of Navigation laws were passed to ensure that the countrys trade remained in the hands of the native shippers. The mercantilism not only laid emphasis on the regulation of foreign trade but also emphasized the principle of monopoly. In most of the European countries the right to engage in foreign trade was vested only in a small privileged section of the society. For example, the British governà ¬ment allowed its subjects to trade freely only with a small area (viz. France, Spain and Portugal) while the rest of the world was divided for trading purposes amongst numerous joint stock companies. Each comà ¬pany was allotted a definite trading sphere. Thus the East India Company enjoyed monopoly of trade with Asia, Africa Company with Africa and Levant Company with the Mediterranean. Similarly, the European powers also vested the right of trade in various joint stock companies. East India Companies were formed in France, Holland, Sweden and Denmark for carrying on trade with the East. The mercantilists applied the principle of monopoly with regard to their colonies also. It was asserted that colonies had no right to regulate their economic independently and must try to meet the needs of the mother country through supply of raw materials for her manufacturers. The other foreigners were excluded from the colonial trade. They were not permitted to carry on trade with the colonies except in some less important articles. Industries were permitted to develop in the colonies only if they did not compete with the mother country. Obviously this policy led to complete neglect of the interests of the colonial people. 2. Importance of Money. Mercantilism attached great importance of money. It considered the wealth as the source of all powers and laid great emphasis on the importance of gold, silver etc. It also considered money as a significant factor for the commercial advancement. Further as the trade in those days was mostly carried on the basis of barter of goods, the people naturally preferred to keep gold and silver rather than the commodities. The importance of money also increased because the state needed more taxes for the management of its affairs and it naturally preferred those taxes in money rather than in kind. The enormous amounts required for the conduct of commercial wars with other nations for the retention of colonies also greatly contributed to the importance of money. Money was also considered essential for abundance of trade. It was commonly held that where money was scarce, trade was sluggish, where it was abundant, trade boomed. In short, mercantilism emphasized the importance of money on account of numerous reasons. 3. Interest. The concept of interest formed an important part of merà ¬cantilism even though there was no unanimity among the various mercanà ¬tilists regarding its use and importance. For example, Mun justified chargà ¬ing of interest on the money because it could be profitably employed in trade and enabled the borrower to make hugh profits. However, by and large the mercantilists favoured low rates of interests. They believed that the high rates of interests made the money scarce. Some of the mercanà ¬tilist writers who favoured low rates of interests included Thomas Manley, John Locke, Nicholas Barbon etc. This stand of mercantilist was quite natural in view of the fact that it was an age of great scarcity of liquid funds, underdeveloped banking facilities and growing antagonism between the mercahnt-manufacturers and the goldsmiths and big merchant finanà ¬ciers. 4. Factors of Production. The mercantilists considered the land and the labour as the sole factors of production. Petty asserted, Labour is the father and active principle of wealth, as lands are the mother. Similarly, Josiah Child held that land and trade went hand in hand. Most of the mercantilists laid emphasis on the need of increasing production with a view to attain self-sufficiency in foodstuffs as well as encouragement of exports. Emphasis was laid on the cultivation of waste lands to increase . reduction of agriculture. 5. Large Populations. Mercantilism emphasized the need of possessing large population for increasing production and participation in the war. Highlighting the importance of large popuation Davenant said, The people are the real strength of the community; dense population made inventions. It also developed industries which brought riches to the naà ¬tion. In view of the importance of the population Samuel Fortrey pleade for freedom of immigration and granting of equal rights to the immià ¬grants. He argued the immigrants would bring riches with them and improve the condition of trade and industry in the country. Large populaà ¬tion also made available cheap labour which helped a country to increase its domestic population and successfully compete with the foreign counà ¬tries. In view of this the state encouraged matrimony and parenthood. 6. Commercial Regulations. Mercantilists accepted the need of comà ¬mercial regulation for the smooth working of the economy and promotion of social welfare. Almost all the European countries framed regulations with a view to restrict the imports of foreign goods and encourage exports. Generally the import of raw materials was preferred over import of finished product because it helped the industrial development of the counà ¬try. Most of the states imposed artificial restraints on internal and exterà ¬nal trade keeping in view the national interests. As the mercantilists believed that a country could obtain an advantage at the expenses of another country only, the commercial regulations were framed keeping in view selfish national interests. This explains why often the mercantilists did not permit the economic considerations to outweigh the political conà ¬siderations and agreed to subserve the economic life to the political end.
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