Adam Smith- Renowned Scottish economist philospher and
author- Studied Latin Mathematics history and writing at
the Burgh School England- Enrolled into the university of Glasglow at the age
of 14 and the University of Edinburgh- Appointed as a member of faculty at the
Unversity of Glasglow in 1751- Appointed as the rector of the University of
Glasglow- Died in 1790 at the age of 67
Main MessageThe main message of wealth of nations is the path taken by developed nations to arrive at the wealthy nation status
DIVISION OF LABOUR
bull Surge in production quantity is evidence of a thriving society
bull Division of labor ensures a faster approach for production
bull Higher dexterity for each worker ensures better output
DIVISION OF LABOUR Smith recognizes certain
problems with division of labor eg
bull It may encourage automation ndash leading to the loss of jobs
bull It is not always applicable ndash the periodicity of farming practices for instance does not allow for division of labor
Given that the pros outweigh the cons division of labor is still highly advocated for
NATURAL WAGES
- Alternative to achieving prosperity
- Capitalist Society- Production Minimum- Time derivative
DEMAND AND SUPPLY
- Individualrsquos willingness- Employment inequalities- Rent- Modernization - Produce of silver and its value
Foreign Trade- He argues against
mercantililsm and advocates for unregulated foreign and domestic trade
- He argues for specialisation with the claim of reducing the cost of trading
- Free trade without restrictions
CONTRIBUTION TOWARDS SOCIETY
- Liberty Limited Government Intervention- Efficiency Division of Labour and
Specialization- Community Free Trade- Equality Equal Employment
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Adam Smith- Renowned Scottish economist philospher and
author- Studied Latin Mathematics history and writing at
the Burgh School England- Enrolled into the university of Glasglow at the age
of 14 and the University of Edinburgh- Appointed as a member of faculty at the
Unversity of Glasglow in 1751- Appointed as the rector of the University of
Glasglow- Died in 1790 at the age of 67
Main MessageThe main message of wealth of nations is the path taken by developed nations to arrive at the wealthy nation status
DIVISION OF LABOUR
bull Surge in production quantity is evidence of a thriving society
bull Division of labor ensures a faster approach for production
bull Higher dexterity for each worker ensures better output
DIVISION OF LABOUR Smith recognizes certain
problems with division of labor eg
bull It may encourage automation ndash leading to the loss of jobs
bull It is not always applicable ndash the periodicity of farming practices for instance does not allow for division of labor
Given that the pros outweigh the cons division of labor is still highly advocated for
NATURAL WAGES
- Alternative to achieving prosperity
- Capitalist Society- Production Minimum- Time derivative
DEMAND AND SUPPLY
- Individualrsquos willingness- Employment inequalities- Rent- Modernization - Produce of silver and its value
Foreign Trade- He argues against
mercantililsm and advocates for unregulated foreign and domestic trade
- He argues for specialisation with the claim of reducing the cost of trading
- Free trade without restrictions
CONTRIBUTION TOWARDS SOCIETY
- Liberty Limited Government Intervention- Efficiency Division of Labour and
Specialization- Community Free Trade- Equality Equal Employment
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Main MessageThe main message of wealth of nations is the path taken by developed nations to arrive at the wealthy nation status
DIVISION OF LABOUR
bull Surge in production quantity is evidence of a thriving society
bull Division of labor ensures a faster approach for production
bull Higher dexterity for each worker ensures better output
DIVISION OF LABOUR Smith recognizes certain
problems with division of labor eg
bull It may encourage automation ndash leading to the loss of jobs
bull It is not always applicable ndash the periodicity of farming practices for instance does not allow for division of labor
Given that the pros outweigh the cons division of labor is still highly advocated for
NATURAL WAGES
- Alternative to achieving prosperity
- Capitalist Society- Production Minimum- Time derivative
DEMAND AND SUPPLY
- Individualrsquos willingness- Employment inequalities- Rent- Modernization - Produce of silver and its value
Foreign Trade- He argues against
mercantililsm and advocates for unregulated foreign and domestic trade
- He argues for specialisation with the claim of reducing the cost of trading
- Free trade without restrictions
CONTRIBUTION TOWARDS SOCIETY
- Liberty Limited Government Intervention- Efficiency Division of Labour and
Specialization- Community Free Trade- Equality Equal Employment
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
DIVISION OF LABOUR
bull Surge in production quantity is evidence of a thriving society
bull Division of labor ensures a faster approach for production
bull Higher dexterity for each worker ensures better output
DIVISION OF LABOUR Smith recognizes certain
problems with division of labor eg
bull It may encourage automation ndash leading to the loss of jobs
bull It is not always applicable ndash the periodicity of farming practices for instance does not allow for division of labor
Given that the pros outweigh the cons division of labor is still highly advocated for
NATURAL WAGES
- Alternative to achieving prosperity
- Capitalist Society- Production Minimum- Time derivative
DEMAND AND SUPPLY
- Individualrsquos willingness- Employment inequalities- Rent- Modernization - Produce of silver and its value
Foreign Trade- He argues against
mercantililsm and advocates for unregulated foreign and domestic trade
- He argues for specialisation with the claim of reducing the cost of trading
- Free trade without restrictions
CONTRIBUTION TOWARDS SOCIETY
- Liberty Limited Government Intervention- Efficiency Division of Labour and
Specialization- Community Free Trade- Equality Equal Employment
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
DIVISION OF LABOUR Smith recognizes certain
problems with division of labor eg
bull It may encourage automation ndash leading to the loss of jobs
bull It is not always applicable ndash the periodicity of farming practices for instance does not allow for division of labor
Given that the pros outweigh the cons division of labor is still highly advocated for
NATURAL WAGES
- Alternative to achieving prosperity
- Capitalist Society- Production Minimum- Time derivative
DEMAND AND SUPPLY
- Individualrsquos willingness- Employment inequalities- Rent- Modernization - Produce of silver and its value
Foreign Trade- He argues against
mercantililsm and advocates for unregulated foreign and domestic trade
- He argues for specialisation with the claim of reducing the cost of trading
- Free trade without restrictions
CONTRIBUTION TOWARDS SOCIETY
- Liberty Limited Government Intervention- Efficiency Division of Labour and
Specialization- Community Free Trade- Equality Equal Employment
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
NATURAL WAGES
- Alternative to achieving prosperity
- Capitalist Society- Production Minimum- Time derivative
DEMAND AND SUPPLY
- Individualrsquos willingness- Employment inequalities- Rent- Modernization - Produce of silver and its value
Foreign Trade- He argues against
mercantililsm and advocates for unregulated foreign and domestic trade
- He argues for specialisation with the claim of reducing the cost of trading
- Free trade without restrictions
CONTRIBUTION TOWARDS SOCIETY
- Liberty Limited Government Intervention- Efficiency Division of Labour and
Specialization- Community Free Trade- Equality Equal Employment
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
DEMAND AND SUPPLY
- Individualrsquos willingness- Employment inequalities- Rent- Modernization - Produce of silver and its value
Foreign Trade- He argues against
mercantililsm and advocates for unregulated foreign and domestic trade
- He argues for specialisation with the claim of reducing the cost of trading
- Free trade without restrictions
CONTRIBUTION TOWARDS SOCIETY
- Liberty Limited Government Intervention- Efficiency Division of Labour and
Specialization- Community Free Trade- Equality Equal Employment
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Foreign Trade- He argues against
mercantililsm and advocates for unregulated foreign and domestic trade
- He argues for specialisation with the claim of reducing the cost of trading
- Free trade without restrictions
CONTRIBUTION TOWARDS SOCIETY
- Liberty Limited Government Intervention- Efficiency Division of Labour and
Specialization- Community Free Trade- Equality Equal Employment
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
CONTRIBUTION TOWARDS SOCIETY
- Liberty Limited Government Intervention- Efficiency Division of Labour and
Specialization- Community Free Trade- Equality Equal Employment
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
CRITIQUE- Adam Smith mostly talks about things in relation to England- Specialization has its pros but also presents some cons as well- Free Trade might not be the best form of generating wealth in a
country- Style of writing used by Adam Smith makes it difficult for modern
English users to follow what he is putting across- Some examples used in his book are not relatable in present
day- Adam Smith says that people work or make products based on
their self-interest Not necessarily the case- He also advocates for reduced intervention by the government
on trade This can serve as a grounds for mischievous conducts
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
IMPLICATIONS FOR CONTEMPORARY LEADERS
- emphasis should be placed on self-sufficiency
- Government or organizational institutions with board of leaders should select people based on their specialization
- Leaders should not have the pursuit of self interest
- Government leaders should not over-step the boundaries of their power
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
OUR VIEWS- Relevance of Specialisation- Free trade- Equal opportunities
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Kicking Away
The Ladder
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Background of Ha-Joon Chang Born 7th October 1963 South Korean Wrote a thesis on The Political Economy of Industry- Reflections on the role
of state intervention for his PhD which relates to his book Kicking Away the Ladder
Institutional Economist Reader in Political Economy of Development at the University of Cambridge
Ranked one of the top 20 World Thinkers by the Prospect magazine in 2013 Served as a consultant in the World Bank Asian Development Bank
European Investment Bank Oxfam and various UN agencies A fellow at the Center for Economic and Policy Research Washington D C Serves on the advisory board of Academics Stand Against Poverty Has been an important academic influence on the president of Ecuador His book Kicking Away the Ladder won the 2003 Gunnar Myrdal Prize of
the European Association for Evolutionary Political Economy as well as the 2005 Wassily Leontief Prize
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Good Policies1 Conservative macroeconomic policy
2 Liberalization of international trade and investment
3 Privatization
4 Deregulation
Chapter 1
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Key Institutions
1 Democracy
2 lsquoGoodrsquo bureaucracy
3 An Independent Judiciary
4 Strongly protected private property
5 Transparent and market-oriented corporate governance
Chapter 1
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Questions the Book Tries to answer
1 Are these recommended policies and institutions appropriate for developing countries
2 Arent they kicking away the ladder for the developing countries
Chapter 1
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
The Orthodox Myth About USA and Britain
The myth states that The two countries adopted free trade and laissez faire during their development
Claims that other countries consequently adopted it because of the ldquobenefitsrdquo Describes the 19th century as the free trade era- Britain other European countries
and their colonies adopted unilateral free tradeDespite the orthodox myth The NDCs used protectionist policies during world wars 1 and 2 and even after
when they did not need to Even after reaching technological peaks they still used protectionism to pull
themselves from competitionSome Policies they used to pull from competition Controlling skilled workers migration and machinery export Pressuring less developed countries to open up their markets
However these other economies retaliated by smuggling machinery and poaching of workers
Chapter 2
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
The PioneersBRITAIN
Promoting local industry by banning import of woolen cloth Walpoles law of 1721 -dropping import duties on raw materials for exporting
manufacturers export duties on manufacturers abolished export subsidies increased regulation to control quality of manufactured products
Widening technological lead over other countries by high tariffs on manufactured products
Ban imports of superior products from some of its colonies if they happened to threaten British industries
USA Alexander Hamilton argued that competition from abroad would mean that infant
industries that could soon become internationally competitive could not be started in USA unless initial losses were provided by the government and these initial losses were import duties and prohibition of imports
In 1816 a new law was introduced to keep tariff level close to those of wartimes (high) When America finally resorted to free trade it still administered hidden protectionist
measures such as voluntary export measureChapter 2
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Some strategies countries adopted to promote their industrial success in Europe To develop Britainrsquos wool manufacturing industry King Henry VII sent royal missions
to scout potential locations for manufacturing he acquired workers from the Low Countries increased duties and temporarily banned export of raw wool
The French state recruited skilled workers from Britain and promoted espionage to procure information on new technologies Through this France was able to close the technology gap with Britain leading to successful industrialization
Germany pursued a range of policies to promote new industries Tariff protection monopoly grants and cheap supplies from royal factories were used Overall the statersquos direct involvement in industrial development was key
Netherlands adopted a laissez-faire regime which led to sluggish economy and shallow industrialization So the country introduced interventionist policies promoting the development of the aluminium industry and key infrastructures
Catch-Up Strategies
Chapter 2
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Switzerland was one of Europersquos early industrializers thus the technological gap meant that infant industry protection was not very necessary for Switzerland as it would have been costly for Switzerland to maintain
In the early years of its development Japan was not able to use trade protection and so State involvement was crucial to infrastructural development So the state adapted institutions from more advanced countries that were regarded as necessary for industrial development
Belgium was one of the most industrialized parts of central Europe but they had to adopt tariff protectionism because of the countryrsquos small size and political weakness
Sweden established strong tariff laws similar to Britainrsquos to protect the agricultural and industrial sectors This strategy contributed to Swedenrsquos successful industrial upgrading
Catch-Up Strategies Cont
Chapter 2
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
The Pulling-Ahead Strategy by the Leader and the Responses of the
catching-up Countries ndash Britain and its followers
Policies intended to prevent the development of manufacturing in the colonies
Attempts to impede the development of manufacturing in semi-independent countries (less developed countries)
Use of alternative methods against Competitor nations
Chapter 2
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Institutions and Economic Development ldquoGood Governance in Historical Perspectiverdquo
SECTIONS
How the institutions advanced in the NDCrsquos when they were now
developing
Economic developments preconditioned by the lsquogood
institutionsrsquo were attained by the NDCrsquos in the past compare with
developing countries at comparable levels of development
Chapter 3
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
APPROACHES To understand what institutions will be good and will work for the developing
country by transplanting them and analyzing how they fare To wait for a ldquospontaneous institutional evolutionrdquo ndash letting the institutions evolve
naturally like it happened to the NDCs Learn from History ndash looking at institutional development
from historical perspectives to obtain lessons
ANALYSIS ON EACH ldquoINDENSPENSIBLErdquo INSTITUTIONDEMOCRACYVoting ndash Universal Suffrage -- DecadesFrance males above 30 (03) USA Black males were not allowed to vote In Spain there was a war when universal suffrage was introducedRacial and Gender RestrictionsSecret Balloting and Vote Buying
BUREAUCRACYNepotismSpoils System ndash Government gives civil service jobs to supporters after election winSale of Public enterprises to Private companiesFrance and Germany--about 23 percent among the high-ranking bureaucrats had fathers who served as elite administrators
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
JUDICIARY Political Influence in Judiciary--USA an UK the boundary between their judiciary and legislature were blurlsquoclass justicersquo --military and middle-class rimes were hardly brought to court and less severely punished
PROPERTY RIGHTS REGIMESWeak Patent Rights systems ndash UK France and Germany lacked ldquodisclosure requirementsrdquo incurred very high costs in filing and processing patent applications and were provided inadequate protections to the patenteesrdquo
Chapter 3
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
The History of Institutional Development in The Developed Countries
Corporate Governance- Limited Liability
- Bankruptcy Law
- Competition Law
Financial Institutions- Central Banking
- Securities Regulation
Social welfare institution
Chapter 3
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
INSTITUTIONS REGULATING CHILD LABOUR AND ADULT WORKING CONDITIONSCHILD LABOUR
Heated debate on child labour since early days of industrialization Proposals by NDCs for developing countries to stop child labour through imposing trade sanctions Wide spread concern that the developing countries cannot afford these institutional demandsAttempts taken to regulate child labourbull First serious attempt -1833 Factory Act that only involved cotton wool flax and silk industries The act banned the employment of children under 9 and restricted the number of working hours for childrenNB- In the1870S no cosmetic legislation existed on child labourbull 20th Century ndash reasonably serious child labour regulations prevailed in the NDCsbull WW1 ndash nearly every state had introduced laws banning the employment of children and limiting the number of working hours for children
ADULT WORKING CONDITIONS Donrsquot attract much attention as those regulating child labour Substantive issues involved in their implementation are essentially the same as those regulating child labourCharacteristics of Adult Working Conditionsbull Working hours exceeded 12hours Immigrants 16hoursbull Factory Act banned women to work at nightbull The exploitation of various legal loopholes by employers and the poor enforcement of safety lawsbull Legislation for special industries such as railways and mining companies
Chapter 4
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
The process of institutional development in the NDCs has been slow and uneven with frequent reversals in the process Contemporary developing countries actually have much higher levels of institutional development than the NDCs had at comparable stages of
development
Characteristics of early industrialization(18th century) Presence of nepotism spoils and sinecures in bureaucratic offices Limited liability was not a generalized institution Highly deficient bankruptcy laws-Banks were still a novelty No social welfare institutions or labour regulations Highly inadequate security market regulations
Industrialization(1875) Most things remained the same as in the early industrial stage
Characteristics of the industrial maturity(1913-Onwards) Institution of professional bureaucratic systems Development of democracy Institution of labour regulation
A BIRDrsquoS EYE VIEW OF THE HISTORICAL DEVELOPMENT OF THE NDCs
Chapter 4
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
LESSONS FOR THE PRESENT A consistent pattern emerges in which all the catching up economies use
activist industrial trade and technology(ITT) policies The counter argument against activist industrial trade and technology(ITT)
Policies being based on the fact that times have changed Effects of the Neo-liberal Reforms reform not being able to achieve
economic growth 1 Rethinking institutional Development Deciding exactly which variety of which institution is necessary for every
type of country Good institutions promote growth only when they are combined with good
policies
Chapter 4
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
IMPLICATIONS FOR CONTEMPORARY LEADERS No one best practice is good for the
development of countries Institutional development when done in a more
realistic way can play a positive role in the development process
Learning from history Leaders must be well vexed in issues relating to
economic development( backed by Adeirsquos four dimensions of nation building)
Leaders must focus on developing locally first before thinking internationally
Leaders should be innovative and also try out new ideas(iterations are vital in the development process)
Chapter 4
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Main message of Changrsquos Ideas
The developed countries did not get where they are now
through the policies and the institutions that they
recommend to developing countries
today
Rich countries have lsquokicked away the ladderrsquo by forcing free-
market free-trade policies on poor countries Already
established countries do not want more competitors emerging
through the nationalistic policies they themselves successfully
used in the past
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
What matters for economic development is not simply the
protection of all existing property rights regardless of their nature but which property rights are protected under
which condition
The best way to boost the economy is to redistribute wealth downward as poorer people tend to spend a higher proportion of their income
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Contribution to Good Society
Use of Tariff Protection and subsidies to develop industries and not free market and free trade
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Positive Critique
The NDCs did not use these policies and institutions they recommend to the developing countries
The policies donrsquot work for every developing countries
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Negative critique of Kicking Away the Ladder
Chang uses sample selection bias a questionable scientific and historical method
Chang credits only infant industry promotion for Americarsquos economic success
Chang disregards the role that colonialism and imperialism played Chang overstates the degree to which developing countries today are prevented
from pursuing interventionist trade and industrial policies The book is a scathing attack on Alexander Hamiltonrsquos economic ideologies The book falls short of persuading and acknowledging other historical sources ldquoCorrelation therefore attributionrdquo approach not explained and backed with
proper evidence
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
How our minds have changed towards
leadership
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Conclusion
The book raises fascinating question and succeeds in being provocative but it ultimately fails to be convincing If Chang
had focused in-depth analysis on one particular question eg the degree to which protectionist policies account for the success of todayrsquos developed countries and came to
terms with the work of economic historians more directly he might have made more of a contribution
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
GROUP 1THE MYSTERY OF CAPITALKENNEDY YAW MINTAH MAAME EFUA DADZIEETONAM YAW DOTSE PAULINE OWINOMAAME AKUA WUSU-ANSAH TAMAKLOE CLAUDE-NOEL
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
ABOUT THE AUTHOR Hernando De Soto Polar Born 2nd June 1941 A Peruvian Economist His father sought exile in Switzerland after military coup in Peru Completed his undergraduate at International School of Geneva and Post graduate at the
Graduate Institute of International Studies Worked as a Peruvian diplomat in Lima New York and Geneva Received a Milton Friedman Prize for Advancing Liberty in 2004 Other books written include Realizing Property Rights and The Other Path The Economic
Answer
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Main Message De Soto argues that even if countries liberalize and open their economies to
foreign investment they will not succeed in bringing prosperity to ordinary people until they have established a formal system of property rights
Key Concepts in Book Dead Capital Extralegal activities Bell Jar
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Mystery of Missing Information The possessions of developing and former
communists nations are not represented in a way to produce additional value (dead Capital) Why Extralegal activities
It is hard to get and maintain legal title or right
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
The reason capitalism works in the west and nowhere else is because only western countries have the tool needed to create capital
What is capital Capital is the potential in an item has to produce surplus value
He identified six effects of a formal property right system 1 Fixing the Economic Potential of Assets 2 Integrating Dispersed
Information into One System 3 Making People Accountable 4 Making Assets Fungible 5 Networking People 6 Protecting Transactions
Mystery of Capital
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Political awareness as a mystery why capitalism succeeds in the west Migration the development of extra-legals and the legalization of their activities Blind spots as main problem of non-westernized nations Blind Spot I - This talks about how governments fail to recognize the flow of
extra-legal activity that has created a new class of entrepreneurs with their own legal laws
Blind spot II - This touches on the inability of governments of developing countries to learn from experiences of countries who have already passed through this stage
Mystery of Political Awareness
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
The author views the US from a different angle and strives to show what people do not see
He researched on the history of how the property rights were established and discusses the process and noted that it was formed over centuries hence it is practically unknown
- This boosted the system of property rights and improved the US- Formal system of property rights brings prosperity to ordinary people- The author repeatedly argues that capitalism in countries outside the West
is a failure
Mystery of Legal Failure
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Contribution towards the Good Society Mystery Of Capital touched on all the four coordinates of a good society
However De Soto was strong on efficiency and equality but weak on community and liberty
For efficiency he believed in capitalism For equality he believed that the bell jar should be opened to consider the
poor For community he believed in the peaceful co-existence between people For liberty he believed that if people have the right to their property they
would have the freedom to do anything legal with it
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
CRITIQUES He acknowledges availability of wealth in developing countries and suggests ways
of improving it He is not for redistributing capital but rather encouraging development of capital He acknowledged the fact that extralegal rights were best suited for the Western
countries and could not be developed in the former communist nations He emphasized property formalisation as the only reason behind economic growth
of western countries Poverty is not homogeneous therefore a single solution cant work
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Implication for contemporary leaders It informs contemporary leaders of developing
countries about the importance of opening the formal property system to the poor
It informs contemporary leaders about the situation and potential of the poor need to be better documented
It informs contemporary leaders that all people in the society are capable of saving
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
How it informs group membersrsquo leadership thinking and development The importance of focusing on improving the
condition of the poor Brings about the importance of falling back on
historical leadership decisions to inform present leadership decisions
We should not look far and wide in the generation and addition of value to capital
Society should focus on patronizing locally made goods
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
About the author Milton Friedman was born on 31st July 1912 in Brooklyn NY He graduated from Rahway high school in 1928 and awarded a competitive
scholarship to Rutgers university and graduated in 1932He financed the rest of his college by working as a waiter and a clerk in a retail store
Friedman initially specialized in mathematics intending to become an actuary but later gained interest in economics He continued his economics studies at university of Chicago in 1933 and his PhD in Columbia university in 1946
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
About the author He became an adviser to US president Ronald Regan and British prime minister
Margaret Thatcher Milton once stated that his proudest accomplishment was his role in eliminating
the US conscription He published this book Capitalism and Freedom in 1962 in which he advocated many policies such as volunteer military floating exchange rates abolition of negative income taxes and school vouchers which led him to found the Friedman foundation for Educational Choice later renamed EdChoice
Died on 16th November 2006 in San Francisco California
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Main message of the author Economic freedom promotes political freedom and Capitalism is a necessary
condition for political freedom but it is not a sufficient condition The roles of the government in a free society include defense administrative
rules or legal structures (the majority rule) enforcement of law and order The governmentrsquos interference in private free enterprises must be reduced
rather than increased The problem facing the international monetary arrangement is the difference in
the national currencies and conversion rates
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Main message contrsquod Licensure should be eliminated as a requirement for the practice of medicine A major problem of interpreting the distribution of income is determining
whether it has long run or short run differences in income Measures government can use to alter the distribution of income include
graduated taxes income redistribution has fostered welfare programs with unintended outcomes To alleviate poverty governmentrsquos support to the poor must be in cash
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Main message contrsquod Government should alter the tax levels in order to address swings in the
economy instead of adjusting its spending because it is not sustainable and does not always yield the expected results
Government should subsidize education for individuals instead of institutions in order to promote competition which will lead to an increase in the quality of education
Capitalism reduces discrimination because it is more expensive to discriminate in a free enterprise economy
Monopoly is undesirable in a capitalist economy and must be stopped by the government
Social responsibilities of businesses ldquoinappropriate use of corporate fundsrdquo and that the fact that businesses pay taxes is enough
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
contribution towards the ldquogood societyrdquo debate Created awareness on the importance of quality basic education He proposes more sustainable fiscal policies to help build the good society The book points out various flaws in the society and provides various solutions
to these flaws The book brings to light the need for the government to take care of the poor
(take necessary steps to alleviate or reduce poverty) He advocates for freedom and liberty of people in the society
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
critique the ideas he suggests are quite radical and he does not emphasize how they can
be moved from ideas to reality The free market gives people the power to inflate prices and exploit consumers He suggests that to alleviate poverty support for the poor should be in the form
of cash so that they will have the chance to choose whatever they want for themselves
He argues that social security is unfair and inefficient but he does not give any suggestions to improve on it
He argues against licensure even though it helps bring out the best people for the job
He argues that corporate social responsibility is an inappropriate use of funds even though it serves as a corporationrsquos way of paying for some of its negative externalities and a way to help the society in which they operate
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Implications for contemporary leaders Leaders should put some humanity into efficiency as okun suggests Leaders should preach and encourage unity and togetherness among followers
ndash the color of a mans skin or the religion of his parents is by itself no reason to treat him differently a man should be judged by what he is and what he does and not by these external characteristics
Leaders should think about the welfare of their followers (care) as suggested by adei
Leaders should plan for unintended consequences of their decisions
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
How it informs group membersrsquo leadership thinking and development
We should not accept the system just as it is we should always find better ways of doing things
We should empower people to lead themselves out of poverty rather than spoon-feed them
Power should not be concentrated in one area We should encourage cultural inclusion and avoid racism and discrimination We should show care and empathy towards followers
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Video to summarize the main points of the book
>
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
SILENT SPRINGGROUP 5
Benjamin Jnr Asare Henrika
Amoafo
Kwasi Korboe Christine
Buckle
Fauziya Mudasir Delasie
Fumey
Bruno Edoh Chantel Osei-
Nyarko
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Born in May 1907 and died in April 1964 as a result of breast
cancer
Her mother bequeathed to her a life-long love of nature
Attended Pennsylvania College for Women in 1925-1929
Won scholarship to Woods Hole Marine Biological Laboratory and
obtained her MA in Marine Biology and received her MA in zoology
from Johns Hopkins University in 1929-1932
Carson became a marine biologist later
She began a fifteen-year career in the federal service as a scientist
and editor in 1936 and rose to become Editor-in-Chief of all
publications for the U S Fish and Wildlife Service
She wrote pamphlets on conservation and natural resources and
edited scientific articles
Biography
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
She is the author of Under the Sea-Wind The Sea Around Us and The Edge of
the Sea
The publication of these books made Carson famous as a naturalist and
science writer
She resigned from U S Fish and Wildlife Service and devoted herself and time
to writing
She wrote several other articles designed to teach people about the wonder and
beauty of the living world including Help Your Child to Wonder (1956) and
Our Ever-Changing Shorerdquo(1957)
She was disturbed by the excessive use of synthetic chemicals in controlling
insects and this led her to write the book rdquoSilent Springrdquo in 1962
Biography
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Rachelrsquos Message
Though the book Silent spring isnrsquot a novel it has a plot The main theme in this
book is written along the lines of an initial state of harmony and productivity
It shows the drastic and profound fall in the wellbeing of the environment as well
as that of humans
In the first three chapters she talks of the ideal world we all want to live in with
birds singing and healthy crops and livestock which quickly vanishes into the grim
reality of the poor state of our present world
She embarks on an awareness campaign in her book to bring to light the harm
were are causing our environment with the use of poisonous chemicals in our daily
lives as individuals and by the government as a whole
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Rachelrsquos Message
She advocates for the ban on DDT and other chemicals
In her book she uses two rhetorical stand points to make her point
She first tugs on the readerrsquos sense of right or wrong then moves on to make
logical argument about how our actions over time have great effects on us
She tries to paint a picture of a spring when there is no sound of birds singing
due to the poor state of our environment
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Summary Discusses the environment as a whole and how insecticides affects the various
aspects of the environment
The question of why we must consider ldquonatural beautyrdquo to be weedsmdashtalks about
how weeds are cleared from highways to be used for utility lines and other projects
The killing of other animalsmdashthe case of sage bush(affected the prong-horn
antelope and the sheep)
How weed killers destroy some plantsmdashthe case of rag weed
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Summary
Talks about the ineffectiveness of massive spraying operations
Killing of non-targeted birds and animals through some actions
Little funding for natural control of insects
The Japanese beetle case
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Summary Carson speaks about how poisoning has now overtaken the personal frontier
with people using dangerous chemicals in their gardening and use of
insecticides in the home
She then goes on to say how humans need to be on the look out for a
cumulative effect of multiple exposures over years
Carson talks about the medical research that links pesticidesinsecticides to
death and diseases in humans
Carson then talks about manrsquos destruction of the natural balance of the
environment giving examples of animals becoming resistant to the pesticides
and the use of alternate methods such as male insect sterilization
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Summary Insect control programs are threatening to the balance of nature
New development of immunity of insects to chemicals as another
argument against pesticides
People underestimated the power of nature to adapt to these
chemicals and therefore waged a war with chemicals
The ignorance and neglect of nature by humans can cause
dangers to humans whether they see it or not
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Importance of Work amp Contribution to A Good Society
Her work started environmental awareness in the west through
the creation of the EPA
Brought awareness of global warming before it became a ldquobigrdquo
issue and the effects of pesticides
Her book led to the ban on DDT usage by showing it was
cancer-causing
Development and implementation of chemicals that reduce
environmental and human hazards
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
CritiqueShe appealed
to both the
moral and
logical sides of
people
1She focused
more on putting
humanity into
efficiency
2She lacked
objectivity after
some point due
to most of her
information
coming from
friends
3She heavily
relied on
alarmism in
making her
claims
4
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Implication for Contemporary
LeadershipLeaders should work on sustainability of the environment and
the long lasting effects of their policies
Adei - focus on wellbeing and democracy
Tolerance to opposing opinions
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Leadership Thinking amp Development
Ethicsconsideration for the people over monetary gain
Leaders should be receptive to the voices of the people and implement things to
better their issues
Leaders need to focus equally as much on the environment as they do with
economics
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Thank You
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Small is beautifulEconomics as if people mattered By EF Schumacher
BENJAMIN ANNANENAM NANEMEH FREDERICK PETER PLANGEKWAME BOAHENEMALIHA ABDULIANANIS KANANABENJAMIN BANOR
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
About the Author Ernest Friedrich Schumacher was born on the 19th of August 1911 in
Germany Studied at New College Oxford and later at Columbia University
earning a diploma in economics After the Second World War Schumacher worked as an economic
advisor to the British Control Commission Between 1950 and 1970 he operated as the Chief Economic Adviser to
the National Coal Board In Burma he developed a set of principals known as Buddhist
economics ndash a spiritual approach to economics which seeks to minimize suffering for all people
In 1973 he saw the publication of his book Small is beautiful a study of economics as if people mattered
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Main MessageBuddhist economics
He advocates for maximum satisfaction from minimum consumption and that mass production should not be our focus
Production of local resources for local needs is the most rational way of economical progress
He argued that modern economic policies had created rampant inefficiency environmental degradation and dehumanizing labor conditions
The Buddhists care about every aspect of production but with the western economics all they care about is end product
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Continuation of Main Message
A question of size Excessive materialism and meaningless
growth is an obstacle to human development Thus smaller sized appropriate technologies and societies will be beneficial to both humans and the environment
Advancements in technology in transportation and communication caused mass movement
His core philosophy is ldquoenoughnessrdquo appreciating both human needs limitations and appropriate use of technology
Faults conventional economic thinking of ldquobigger is betterrdquo
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Comparison between Buddhist economics and Modern economics
Modern Buddhist
Interested in goods and creation of wealth Economic thinking is based on greed as manifested in the efforts of business to maximize profits
Interested in liberationIt doesnrsquot oppose wealth what it opposes is attachment to wealth not the enjoyment of the things but the craving for them
Think that annual consumption is the measurement more is better than enough
Consumption is merely one measure of well-being
Try to maximize human satisfaction by the optimal pattern of consumption
Maximize consumption by the optimal pattern of productive effort
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Contribution towards a good society Community
o Local industrialization local resources should be used for local needso Environment preservation and human sustainability planting trees helps to
ensure we are safe in the environment which allows the community to progress
Equality Not for equality
Libertyo Enjoyment of work and leisure by ensuring that work involves less toil but
more time for artistic expression Efficiency
o Maximum satisfaction from minimum consumption of resources
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Critique Schumacher implies that imports and exports should be kept to the barest minimum
forgetting the idea of comparative advantage Reliance on human labor as Schumacher suggests would become difficult as population
growth occurs Schumacher forgets that technological advancement could help in conserving non-
renewable resources He claims that mothers with outside jobs is considered a serious sign of economic failure Technological advancement in transportation wouldnrsquot only lead to humans being
footloose but goods and services too Schumacherrsquos ideologies seem to be the cry of a romantic idealist
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Implications for Contemporary leaders
Leaders need to implement policies that are not solely centered on industrial growth but include the satisfaction of individuals in the economy in mind
Leaders should focus on maximizing satisfaction from minimum consumption
Leaders should strive to avoid depending on imports Develop economy so it can be self-reliant with regard to most resources
Production from local resources for local needs is the he most rational way of economic life
Leaders should implement policies on how resources should be extracted
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
How it informs group membersrsquo leadership thinking and development
A happy people make for a thriving economy Thus empathy is a vital quality needed by leaders
Leaders should employ policies to encourage and facilitate the usage of local resources to solve local needs
There should be a fine balance between technological advancement and human labor to bring satisfaction
He challenges our current perception about work and organization of work to give it a human face
Leaders should consider the type of economy present in their country before adopting certain economic systems
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
>
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
THE END
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
GROUP 3AMY KPENTEY
WAYNE GAKUOHADDIJATOU TOURAY
CYNTHIA MUHONJADORCAS NAKACHWAEKAB-OSOWO TAWO
ADWOA AMOABA WILSON
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
BACKGROUND Born November 28 1928 An American economist Chairman of the Council of Economic Advisers (1968 ndash
1969) Economic advisor under Kennedy and Johnson (White
House) Professor at Yale University Fellow at the Brookings Institute Particularly known for propagating Okunrsquos Law which
states that for every 1 increase in the unemployment rate a countryrsquos GDP will be roughly an additional 2 lower than its potential GDP
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
RIGHTS RIGHTS AND DOLLARSbull Equal justice and equal political rightsbull ldquoFind a job or go hungryrdquo ldquosucceed or sufferrdquobull Double standard of a capitalist democracybull Monitoring of a society that is both capitalist and democratic
THE DOMAIN OF RIGHTSbull Features of rightsbull Negative side of rightsbull The three routes for the justification of rights libertarian
pluralistic and humanistic
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
THE REASON FOR RIGHTS LIBERTYbull Limited government interventionbull Rights are conferred on people against the state PLURALISMbull The market needs to be kept in its placebull Rights are checks on market domination HUMANISMbull Human dignity of all citizensbull Reference to John Rawls (justice as fairness)bull John Rawls advocates for equality
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL How does the society draw a boundary between rights and the
market Rights lack an economic price tag The emancipation proclamation ndash took human beings out of
the market scope Rights are paid through taxation Every person regardless of their merit should have access to
medicine and food in the face of illness or malnutrition Statute books do not state explicitly the rights to survival The fulfilment of survival rights is expensive
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
THE DISTRIBUTION OF ECONOMIC WELFARE Income and wealth determine a personrsquos
economic standing Income is more important The accumulation of wealth The difference in saving patterns among the
different parts of the income pyramid
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
EQUALITY OF OPPORTUNITY The notion of fair race The line of unequal opportunity Inheritance of natural ability and
advantages of family position Clear cases of unequal opportunity occur outside family
relationships- Racism and discrimination in offices as well as favoritism
Conservatives- No need for a fight to equalized society as it is okay the way it is
Radicals- No amount of equality measure taken can cure the wounds of inequality as the system is rotten
Okunrsquos point of view- Involves the fact that much of the inequality in wealth and income reflects the inequality in opportunities and hopes certain policies can change this Such efforts deserve a real try he says
Okun believes that the greater equality of opportunities would produce an equality of income
Equality of opportunity as a value Trade-off between equality of opportunity and equality of income
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
THE AREA OF COMPROMISE Okun believed that if equality and efficiency conflict in a
society one has to be sacrificed for the other And any sacrifice of either has to be a means of obtaining more of the other
Equality and efficiency have to be balanced He agreed with John Stuart Mill that economic misery and deprivation should be eliminated in a democratic capitalism society
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
THE LEAKY BUCKET EXPERIMENT
A $28000+ income-earning family levied a tax of $4000 amp a $1000 grant is given to a $7000 income-earning family through Tax-and-Transfer Equalization Act in the name of equality
However the grant is transported using a leaky bucket and while on transit some money is lost The low-income families donrsquot get the full $1000 while the rich have given up all the $4000
Compares to those who would opt for the switch as long as something remains in the bucket with those who will not support the switch because whatever leaks out is the ldquowater needed to irrigate the next croprdquo
Okun opposes Rawlrsquos view of ldquoGive priority to equalityrdquo for it represents those who donrsquot know what their future holds as per their income He also disagrees with Friedmanrsquos view of ldquoGive priority to efficiencyrdquo for he believes the switch is only efficient when the leakage is about 10
He emphasizes on the need to come up with other alternative prescriptions whose aim is to reduce the disparity between the rich and poor (move from fair jobs to good jobs)
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
WHAT CAN CONTEMPORARY LEADERS LEARN Leaders can learn the role of markets and
fairness Leaders can learn to bridge the gap between
equality and efficiency for instance increasing access to higher education
You have to choose between equality and efficiency you cant have both
Understanding the economy and striking a balance
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY Liberty
There should be limited government intervention Equality
He was indifferent Efficiency
He wanted a balance between equality and efficiency Community
He wanted policies to reduce disparity between the rich and the poor
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
CRITIQUE He was right income distributive policies have major effects on the
economy His suggestions might not apply to the current economy since it has
changed I agree with Okun that in society equality and efficiency cannot be
achieved altogether They are a great trade off and I believe trying to achieve both at the same time will always result into losing more of the other
To me Okunrsquos argument was too vague No figures were attach to make things a bit clearer He was just making his argument without putting in conclusion or guidance on to how his points can be implemented in society
In short he didnrsquot give a clear conclusion How much of equality and efficiency is needed in order to achieve a good society Is the question I canrsquot find answer to from Okunrsquos book
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
>
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
CONCLUSION Okun concluded that the bottom fifth should be assisted by giving them
the content of the Leaky bucket and should be granted greater equality of opportunities
Capitalism and Democracy need each other in order to put some rationality into equality and some humanity into efficiency
There should be a balance every society should strive for a balance between equality and efficiency
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
GROUP 2Verissa OwusuZaneta AsareEmma ForsonSelassie SukaFelix OyooSamuel BunyanThomas Cramer Sam
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Karl Marx Karl Heinrich Marx was born in Trier Prussia on May 5 1818 He witnessed the exploitation and misery of the working class
people and was inspired to fight for social justice After graduating with a doctorate in philosophy from the
University of Berlin in 1841 Karl went to Cologne and worked as an editor for the liberal democratic newspaper Rheinische Zeitung
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Friedrich Engels
Friedrich Engels was born on 28 November 1820 in Barmen Prussia
As a young man his father sent him to England to help manage his cotton-factory in Manchester but Engels was shocked by the poverty in this city
In 1845 Engels met Marx and the two men became close friends
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Features of The Communist Manifesto Bourgeoisie and Proletarians Proletarians and Communists Socialist and Communist Literature Position of the Communist in relation to the
various existing opposition parties Principles of the communist
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Importance of The Communist Manifesto It provides an analysis of the limitations of capitalism and
class struggle and it presents the main principles of communist ideology in detail
It explains that each class of people in the society will work towards the destruction of classes that are inferior to them and in it is suggested that all classes and governments should be abolished
It has influenced many politicians and scholars around the world and has inspired revolutions that have resulted in the formation of communist states
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Main Points
I -- BOURGEOIS AND PROLETARIANS 1
Marx first introduces the idea that economic concerns of a nation drive history and that the struggle between the rich bourgeoisie and the hard working proletariat would eventually lead to Communism
Marx sites positives that were done by the proletariat but he certainly seemed more reflective on the negatives committed by the bourgeois
Marx states that the bourgeoisie has agglomerated population centralized means of production and has concentrated property in a few handsldquo
He then describes the proletarians or the labor class and how they were formed how they have suffered and how they must overcome their struggles
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
hellip Formation of the proletariat into a class to limit
bourgeoisie power In the process the proletariat are going to limit power of
any single group As a result they would not have power themselves but power will be shared amongst all groups
Examples of the ways it is going to be accomplished is by the abolition of property in land and application of all rents of land to public purposes centralisation of the means of communication and transport in the hands of the state free education for all children in public schools among others
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
The communists were chiefly focussed on Germany because the proletariat at that time and place were more educated civilised than those of the 17th and 18th centuries They believed that this revolution would be carried out under more advanced conditions
They supported every revolutionary movement against the existing social and political system
The communists laboured everywhere to bring together the democratic parties of all countries
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
hellip The book also talks about a Paris Commune which was a government
led by the working-class people in France to go against the bad leadership of the ruling class The Commune was to serve as a lever for uprooting class rule with labor emancipated every man becomes a working man and productive labor ceases to be a class attribute and abolish the class property which makes the labor of many the wealth of the few
Basically the book focuses on the critical struggles of the 19th century proletariat stressing on the uniqueness of their situation and measures to come out of it
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
CRITIQUE Marx didnrsquot lay out a clear plan as to how they would get into power
He just gave information on what they would do when they got into power
Marx assumes that all bourgeoisies are evil and they have no form of personal relationship with proletarians which might not always be the case
Marx does not justify why the revolution need be violent He also exaggerates the treatment of the proletarians by comparing
them to slaves Marx work has inspired the creation of trade unions that stand in
solidarity to support the workersrsquo social security welfare The Communist Manifesto focused more on the political aspect and
failed to regard the economic state of the nation
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Contribution to the debate of a ldquogood societyrdquo
Makes current bourgeoisie aware of the wails of the proletarians and therefore they try to make the lives of the proletarians better As they do so the proletarians are able to acquire property of their own and hence are able to increase their standard of living
Marx advocates for the equal distribution of resources and thatrsquos what a good society is all about
A good society is characterized by democracy OrsquoToole describes a good society as where these factors liberty
equality efficiency and communication meet and Marx talks a bit about how these factors would be met Eg free education for all children centralization of means of communication and transport in the hands of the state equal liability of all to work etc
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
Implications for contemporary leaders
Marx has influenced leaders of social institutions to provide scholarships and other opportunities for less-privileged people in order for them to be on the same level as everyone else
Leaders put in place rules that ensure democracy and which also brings a form of equality among people in a country eg elections
The government leaders have formulated tax payment policy such as progressive tax where there higher income earners wealthy pay more tax to foster distribution of resources
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
How it informs our leadership thinking and development
It hammers on the need for ethics but corrupt leaders make that impossible for some
We see the importance of focusing more on improving the conditions of people rather than trying to immediately abolish existing classes
The strength of empathy and vision portrayed in the manifesto shows us that leaders must possess these qualities to truly unite the people
African leaders need a higher sense of urgency for development
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
Slide 112
>
WEALTH OF NATIONS Adam Smith
Adam Smith
Main Message
DIVISION OF LABOUR
DIVISION OF LABOUR (2)
NATURAL WAGES
DEMAND AND SUPPLY
Foreign Trade
CONTRIBUTION TOWARDS SOCIETY
CRITIQUE
IMPLICATIONS FOR CONTEMPORARY LEADERS
OUR VIEWS
Slide 13
Background of Ha-Joon Chang
Good Policies
Key Institutions
Questions the Book Tries to answer
The Orthodox Myth About USA and Britain
The Pioneers
Slide 20
Slide 21
The Pulling-Ahead Strategy by the Leader and the Responses of t
Institutions and Economic Development ldquoGood Governance in Hist
Slide 24
Slide 25
The History of Institutional Development in The Developed Count
Slide 27
Slide 28
LESSONS FOR THE PRESENT
IMPLICATIONS FOR CONTEMPORARY LEADERS (2)
Slide 31
Slide 32
Contribution to Good Society
Positive Critique
Negative critique of Kicking Away the Ladder
How our minds have changed towards leadership
Conclusion
GROUP 1
ABOUT THE AUTHOR
Main Message (2)
Mystery of Missing Information
Slide 42
Slide 43
Slide 44
Contribution towards the Good Society
CRITIQUES
Implication for contemporary leaders
How it informs group membersrsquo leadership thinking and developme
Capitalism and freedom
About the author
About the author (2)
Main message of the author
Main message contrsquod
Main message contrsquod (2)
contribution towards the ldquogood societyrdquo debate
critique
Implications for contemporary leaders
How it informs group membersrsquo leadership thinking and developme (2)
Video to summarize the main points of the book
Slide 60
Slide 61
Slide 62
Slide 63
Slide 64
Slide 65
Slide 66
Slide 67
Slide 68
Slide 69
Slide 70
Slide 71
Slide 72
Slide 73
Small is beautiful Economics as if people mattered By EF Schu
About the Author
Main Message (3)
Continuation of Main Message
Comparison between Buddhist economics and Modern economics
Contribution towards a good society
Critique
Implications for Contemporary leaders
How it informs group membersrsquo leadership thinking and developme (3)
Slide 83
Slide 84
EQUALITY AND EFFICIENCY THE BIG TRADEOFF by Arthur M Okun
BACKGROUND
RIGHTS
THE REASON FOR RIGHTS
THE SCOPE OF RIGHTS amp THE FUZZY RIGHT TO SURVIVAL
THE DISTRIBUTION OF ECONOMIC WELFARE
EQUALITY OF OPPORTUNITY
THE AREA OF COMPROMISE
THE LEAKY BUCKET EXPERIMENT
WHAT CAN CONTEMPORARY LEADERS LEARN
OKUNrsquoS CONTRIBUTION TO THE GOOD SOCIETY
CRITIQUE (2)
Slide 97
CONCLUSION
Slide 99
Karl Marx
Friedrich Engels
Features of The Communist Manifesto
Importance of The Communist Manifesto
Main Points I
hellip
hellip (2)
hellip (3)
CRITIQUE
Contribution to the debate of a ldquogood societyrdquo
Implications for contemporary leaders (2)
How it informs our leadership thinking and development
