The Profound Aspects Of The Islamic Society Religion Essay

The Profound Aspects Of The Islamic Society Religion Essay During the sixth and fifth centuries B.C.E new religious philosophies came to the surface in India and rejected the ancient Indian religion that revolved around the ritual sacrifices offered by Brahmin priests in hopes that the gods would reward their loyal human servants. The development of the Indian economy and the evolution of the societies to wealthy classes have raised the questions about the ancient religion for its role in the societies and rejected it as meaning less and less connected to the Indian societies of the time. The early Buddhism started when the Buddha publicly announced his doctrine first time about 528 B.C.E in the Deer Park of Sarnath, near the Buddhist holy city of Banaras (modern Varanasi), in a sermon delivered to friends (Bentley and Ziegler 220). The core of Buddhas doctrine consists of Four Noble Truths that teaches that all life involves suffering; that desire is the cause of suffering; that elimination of the desire brings an end to suffering; and that a disciplined life conducted in accordance with the Noble Eightfold Path brings the elimination of desire (Bentley and Ziegler 220). The Noble Eightfold Path states that the individuals should seek to live balanced moderate lives by rejecting both the devotion to luxury and extreme asceticism (Bentley and Ziegler 221). Buddhism appealed to many people and become popular from social implication of the doctrine as well as the language and other community service reasons. The Buddhism did not favor the Sanskrit and adapted vernacular tongues that reached a much larger popular audience. In addition, the organization of Buddhism movement created many monastic communities that dedicated their life for enlightenment and salvation. Overtime these monasteries become important institutions in the Indian societies and served as community organizations such as banks and social welfare institutions for the Indian country side populations. As these networks of monasteries have evolved overtime, the monasteries have made significant impact on social, cultural and economic aspects of India. In addition, the Buddhism has also received the endorsement from the Mauryan dynasty, where a major empire Ashoka adapted the Buddhism in about 260 B.C.E, according to Ashokas own accounts (Bentley and Ziegler 221). This is con sidered as a major influence of Buddhism as the King Ashoka said that he had decided to pursue his aims henceforth by means of virtue, benevolence, and humanity rather than arms after his realization of war against Kalinga and adaptation of Buddhism (Bentley and Ziegler 221). By the Ashokas decision he has implemented nonviolence and banned animal scarifies in Paraliputra and gave up his beloved hunting expeditions, and eliminated most meat dishes from the tables of his court, a great example of religion influencing the rule of law in an empire and a government. In addition, he as encouraged Buddhists by awarding grants for spreading the Buddhism and developed monasteries, stupas, and holy sites of Buddhism. Furthermore, Ashoka also sent missionaries to other parts of the world such as Bactria and Ceylon and eventually spreading the religion to central Asia, east Asia, and southeast Asia (Bentley and Ziegler 222). Overtime, Buddhism was adapted by various classes of people at various levels and evolved to a more regional faith. A good example of this is the Mahayana Buddhism that flourished with its advanced educational system and advancement towards the future innovations of the society. The best known institution of historic time is Nalanda University of Gupta dynasty in the Ganges River valley near Paraliputra. The University was famous for teaching Buddhism as well as Vedas, Hindu Philosophy, logic, mathematics, astronomy, and medicine. In conclusion the Buddhism evolved from the rejection or way out of the strict Ancient Indian Religion and evolved to a more moderate religion and then influenced the Mauryan dynasty and spread across Asia and other parts of the world. The Christianity inception dates back to the tenth century B.C.E when the dissolution of the Jewish kingdom of David and Solomon occurred. While the Jewish people maintained their faith various other groups from Babylonian, Achemenid, Alexandrian, Seleucid, and Roman embraced many different ethnic and religious practices; and the empires created state cults that honored their emperors as gods. As these state cults evolved and imposed rules of their own, they clashed with Jews as they did not see the state cults as honorable and refused to participate in the state requirements and created tensions between imperial authorities and Jews and ignited wars between Jews and Roman forces. Ultimately Roman forces decisively defeated the rebels during the Jewish War of 66 to 70 C.E; and then Jews founded new sects that looked for saviors to deliver them from subjection; The Essenes formed one such sect; and one sect formed in 1947 by the discovery of Essene writings. According to the sources, though the early Christians probably had little contact with the Essenes they shared the similar concerns, and Christians formed their community around Jesus of Nazareth, Jewish teacher and a recognized savior. Jesus presented himself as peaceful man, who taught many about devotion to god and love for fellow human beings. He became popular and attracted large population for his wisdom and miraculous powers; especially the ability to heal the sick (Bentley and Ziegler 280). Jesus spread the spirituality and faithfulness towards the God to others and believed that the the kingdom of God is at hand. meant the spiritual realm in which God would gather those faithful to him (Bentley and Ziegler 280). The Roman administrators took this belief as a threat to the Roman Empire and executed Jesus by fixing him to a cross during the early 30s C.E; however, this did not put an end to the movement and continued the spread of the Jesus for his proclaimed presence after th e crucifixion. Although, the Christianity has originated as a sect of Judaism, with its popularity and adaptation by the urban populations, it became the most dynamic and influential religion in the Roman Empire by the third century C.E. The growth of Christianity occurred among mass populations in urban lower classes, and women who did not have the freedom to enjoy the freedom of spirituality in the Roman Empire. In addition, Christianity provided the platform of faith to women as well as men to succeed in life as long as they keep faith in god. In conclusion, the Christianity developed as a spiritual faithful religion promoting equality and hope for better life of all classes and genders of people, which was not evident by the various religions around the Roman Empire. About the 610 C.E, Prophet Muhammad underwent a profound spiritual experience and seeded the path for the religion Islam. According to the sources his convictions include that there is only one deity, Allah(God), that ruled the universe, that idolatry and the recognition of other gods amounted to wickedness; and that Allah would soon bring his judgment on the world (Bentley and Ziegler 348). As he shared his convictions with others, by about 620 C.E. enthusiastic and expanding minority of Meccas citizenry joined his circle and started the promotion of the Islam. During the first century of the Islams existence, Islam reached beyond Arabian homeland expanding to Persia, parts of Byzantine Empire; and by eighth century it has started influencing the political and economic sectors of the post classical societies. According to the sources, the early Islamic religious beliefs reflected the influence of Jewish and Christian faith, and the Muslim society reflected the nomadic and mercantile Arabian society from which Islam arose (Bentley and Ziegler 346). It is common observation in the Islamic society that the evolution of the religion includes the adaptation of various religious practices overtime. For example, after Muslims conquered Persia, they have adapted the Persian techniques of government and financial administration, Persian literature, science, and religious values. Similarly, during the later centuries Muslims adapted the traditions from Greek and India as they travelled or conquered these areas. It is observed that the Islamic society is rather formed by the inclusion of various practices from these other societies then being created as new by blending the elements from Arab, Persian, Greek, and Indian societies. One of the profound aspects of the Islamic society is the establishment Islam in Arabia, occurred when Muhammads followers attacked in 630 C.E. and conquered the city. They force the elites to adapt Muhammads faith and imposed government dedicated to Allah. This attached included the destruction of pagan shrines and were replaced by the mosques for Muslims praying holy places; by the prophets death in 632 C.E., most of the Arabia under the control of Muslims. During the Muhammads period, his faith and his personal leadership influenced significantly for the development of Islamic community. Muhammad founded the community based on the Five Pillars of Islam: (1) Muslims must acknowledge Allah as the only god and Muhammad as his prophet. (2) They must pray to Allah daily while facing Mecca. (3) They must observe a fast during the daylight hours of the month of Ramadan. (4) They must contribute alms for the relief of the weak and poor. (5) And, in honor of Muhammads visits to Mecca in 629, and 632, those who are physically and financially able must undertake the hajj and make at least one pilgrimage to Mecca (Bentley and Ziegler 351). Though, the Islamic community expanded the doctrine features with specific legal, social, and sects, the five pillars remained as basis and powerful. In addition, during the centuries after Muhammad the Islamic holy law, known as sharia, also added to the Islamic society governance model and was used as part of the Islamic empire. After Muhammads death in 632 C.E. his followers expanded the Islamic military power and expanded the Islamic empir e beyond Arabia and brought additional transformation to the Islamic society. As the evolution and spread of the Islamic society continued, it has thoroughly transformed the cultural traditions that it absorbed, and provided political and administrative framework for large part of the eastern hemisphere, from Africa to the islands of southeast Asia; this included the framework for trade operations for this part of the world. Eventually this is referred as dar al-Islam (house of Islam). In conclusion, the Islamic religion has founded as a powerful religion about during the 600 C.E and rapidly expanded the religious community and the Islamic empire that ruled significant part of the world and transformed some parts of the world permanently with Islamic traditions and practices. In conclusion, Buddhism, Christianity and Islam have evolved during the classical era and created permanent footprint in the world for their religious practices, beliefs, and faith towards god. In addition, these religions have provided framework and basis for the political and government systems and influenced, also dismantled other religions, in some cases, as part of the establishment process.

Novel Prize on Economics in 2009

TOPIC: Novel Prize on Economics In 2009 Abstract: This year's Nobel Prize in economics goes to Elinor Ostrom and Oliver E. Williamson. Elinor Ostrom received the prize for her analysis of economic governance, especially the commons while Oliver E. Williamson received the prize for his contributions to the economic governance, emphasizing the boundaries of the firm and its role in conflict resolution and case bargaining. Michael Spence, the 2001 Nobel prize winner, briefly summarized the main contributions of Elinor Ostrom and Oliver E.Williamson to the economic theory. Many economist and critics has given their speech about the novel prize award of this year. Some of them criticize the novel committee for giving the prize of these two persons while others congratulate the prize winners as well as the novel committee. Most of the people think Novel prize received by the right person for their great contribution on economics. Introduction: The Sveriges Riksbank Prize in Economic Scienc es in Memory of Alfred Nobel was established in 1968.Technically, there is no ‘Nobel’ prize in Economics; on the website of Nobel foundation, amongst Nobel Prize in Physics, Chemistry, Medicine, Literature and the Nobel Peace Prize, later ‘Prize in Economics’ commenced since 1969. After that this prise has been given regularly. 41 Prizes in Economic Sciences have been awarded every year since 1969. 22 Prizes in Economic Sciences have been given to one Laureate only. 15 Prizes in Economic Sciences have been shared by two Laureates. 4 Prizes in Economic Sciences have been shared between three Laureates. Nobel Prize in economics gets Elinor Ostrom and Oliver E.Williamson jointly in this year. Elinor Ostrom received the prize for her analysis of economic governance, especially the commons while Oliver E. Williamson received the prize for his contributions to the economic governance, emphasizing the boundaries of the firm and its role in conflict resolution and case bargaining. Objectives of the study: We are very interested about the novel prize that has been given on economics. Economics is one of the important issues for any country all over the world. As we are the student of business faculty we have to achieve vast knowledge on economics.A countries development basically depends on the prosperous economy. Moreover, we want to know about how economist of one country’s places their contribution in the development of the economy of the country. We also want to know how economist get novel prize on the economics. What contribution helps them to get the novel prize? After all as we are the students of business faculty we want to learn more about the economics. The main objective of the study is to know for what kinds of activities Elinor Ostrom and Oliver E. Williamson get the novel prize in the year 2009.Novel Prize on Economics In 2009 Nobel Memorial Prize in Economic Sciences The Nobel Memorial Prize in Economic Sciences, commonl y referred to as the Nobel Prize in Economics is an award for outstanding contributions to the science of economics and is generally considered one of the most prestigious awards for that science. The official name is the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. It is not actually one of the Nobel Prizes established by the will of Alfred Nobel during 1895, but is commonly identified with them.The Prize in Economics, as it is referred to by the Nobel Foundation, was established and endowed by Sveriges Riksbank, Sweden's central bank, during 1968 on the Bank's 300th anniversary, in memory of Alfred Nobel's 1895 will. Like the Nobel Laureates in Chemistry and Physics, Laureates in Economics are selected by the Royal Swedish Academy of Sciences It was first awarded during 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, â€Å"for having developed and applied dynamic models for the analysis of economic processes. † Funding of the PrizeAn endowment â€Å"in perpetuity† from Sveriges Riksbank pays the Nobel Foundation's administrative expenses associated with the prize and funds the monetary component of the award Since 2001, the monetary portion of the Prize in Economics has been 10  million Swedish kronor , equivalent to the amount given for the Nobel Prizes Since 2006, Sveriges Riksbank has given the Nobel Foundation an annual grant of 6. 5 million Swedish kronor. Relation to the Nobel Prize The nomination process, selection criteria, and awards presentation of the Prize in Economic Sciences are performed in a manner similar to that of the Nobel Prizes.The Prize is awarded by the Royal Swedish Academy of Sciences â€Å"in accordance with the rules governing the award of the Nobel Prizes instituted through his [Alfred Nobel's] will†, which stipulates that the prize is awarded annually to â€Å"those who †¦ shall have conferred the greatest benefit on mankind†. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel is the only non-Nobel prize that has ever been associated officially with the Nobel Foundation. The next time a similar offer was made — an offer by Jakob von Uexkull, who subsequently established the Right Livelihood Award — the offer was declined.Award nomination and selection process: Announcement of the Nobel Memorial Prize in Economic Sciences 2008 According to its official website, the Royal Swedish Academy of Sciences â€Å"administers a researcher exchange with academies in other countries and publishes six scientific journals. Every year the Academy awards the Nobel Prizes in Physics and Chemistry, the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, the Crafoord Prize and a number of other large prizes†.Each September the Academy's Economics Prize Committee, which consists of five elected members, â€Å"sends invitations to thousands of scientists, members of academies a nd university professors in numerous countries, asking them to nominate candidates for the Prize in Economics for the coming year. Members of the Academy and former laureates are also authorised to nominate candidates. † All proposals and their supporting evidence must be received before February 1. The proposals are reviewed by the Prize Committee and specially appointed experts. Before the end of September, the committee chooses potential laureates.If there is a tie, the chairman of the committee casts the deciding vote. Next, the potential laureates must be approved by the Royal Swedish Academy of Sciences. Members of the Ninth Class (the social sciences division) of the Academy vote in mid-October to determine the next laureate or laureates of the Prize in Economics. As with the Nobel Prizes, no more than three people can share the prize for a given year; they must still be living at the time of the Prize announcement in October; and information about Prize nominations can not be disclosed publicly for 50 years.With the Nobel Laureates in Physics, Chemistry, Physiology or Medicine, and Literature, each Laureate in Economics receives a diploma, gold medal, and monetary grant award document from the King of Sweden at the annual Nobel Prize Award Ceremony in Stockholm, on December 10—the anniversary of Nobel's death The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2009: The winners of the novel prize in 2009: | | Elinor Ostrom| Oliver E. Williamson| Elinor Ostrom: She got the novel prize for her analysis of economic governance, especially the commons.Her work is much more in the realm of economics than I believe you give her credit for, regardless of whether economists have heard of her. She did work in the allocation of resources and how economic institutions and situations are formed. Her work is incredibly important in study. Understanding that The majority of economists just postulate the existence of economic institu tions and the matters of economic decision making and then study the behavior – without ever questioning where the institutions and units that permitted that behavior ever came from.Her work is helpful in explaining that because she gets away solely from the economic perspective and looks at it from what circumstances and how we as humans function allows us to set up those institutions. Anyone who has read Dr. Ostrom’s work knows that her research is (1) heavily informed by the micro theory work done on the themes that she studies, and (2) she pays a lot of attention to the details that define the interactions between the individuals under Those are, of course, two characteristics inherent in the best applied economics research done anywhere in the world (political science departments included).Her work is carefully crafted, pragmatic in the sense of not being driven by fixed ideas about how the world works, sophisticated (in a game theoretic sense) and most importantl y, very insightful in illuminating the issues she studies. Oliver E. Williamson: He got the novel prize for his analysis of economic governance, especially the boundaries of the firm. His research was viewed as a hip, iconoclastic contribution to economics — something that was talked about by economist. What’s interesting is that in the ensuing 15 years, it seems that economists have talked less and less about Williamson’s research.It is also seemed that most assistant professors of economics have barely heard of him. Yet it is thought that the older generation of economists will applaud this choice. However most of the economics thinks that he was the appropriate person to get this prize. The Prize Amount The list below shows the Prize amount in Swedish kronor (SEK) through the years. The Prize amount for 2009 is set at Swedish kronor (SEK) 10 million per full Prize. YEAR| | PRISE AMOUNT | 2001|   | 10,000,000 | | 2002|   | 10,000,000 | | 2003|   | 10,000 ,000 | | 2004|   | 10,000,000 | | 2005|   | 10,000,000 | | 2006|   | 10,000,000 | | 007|   | 10,000,000 | | 2008|   | 10,000,000 | | 2009|   | 10,000,000| Nobel Prize for Economics 2009  Predictions: * MARK L. GERTLER Henry and Lucy Moses Professor of Economics, New York University, New York, NY, USA †¢ 2007-2008 Guggenheim Fellow and 2008 First Prize Award for Best Paper presented at the NBER’S International Seminar on Macroeconomics during its first 25 years Here are my comments for each of the fields. Behavioral Economics- I have read a bit of all the above except  Ernst Fehr. The Prize was given in 2002 for behavioral economics and I think giving another one in 2009 will be too early.And not having Thaler in the list for behavioral economics would be like awarding another award for International Trade without having Bhagwati on the list or  an award for environmental economics without having Nordhaus on the list. Moreover Rabin is just about 46 nowà ‚  and as per Nobel Prize winners’ age is too young for the award. But yes  whenever behavioral economics is awarded next, Rabin would be a strong contender. Environmental Economics- I have read very little about these two guys and environment economics in general. I have to read a lot more on this to comment anything.But yes see some recognition of the importance of the field soon. Till the committee does not award the field, it will always be in the prediction list. Monetary Economics- I have read quite a bit of John Taylor and if monetary economics is recognized, he would most likely get the award. His work on getting rules into monetary policy framework is quite a revolution. There are strong critiques of John Taylor but this is the case with much of economics. Gertler has written quite a few papers with Bernanke and is a leading proponent with Jordi Gali (see this) on New Keynesian Theory and DSGE Models.Given the current criticism on these models, I don’t think they will be awarded this time. So let’s wait for 12 October†¦. Ashok Chatterjee Says: September 11, 2009 at 5:40 pm Prof. Jagdish Bhagwati’scandidature for receiving this year’s Nobel Prize is not only overdue, but also it will be a fitting tribute to an economist whose contribution to the promotion of Globalization in Macroeconomics is unparalleled and unsurpassed. It would be a great pity if the Nobel Committee gets bogged down in an endless argument in stead of seeing the obvious giant among the great talents in Ecnomics Teddy Chabot Says:September 14, 2009 at 7:12 am I wouldn’t be surprised to see Jean Tirole win (with perhaps a few other folks given the committee’s recent track record) for his contributions to applied game theory in general and industrial organization in particular. The ’80s saw a veritable explosion in work in IO associated with game theory. In the last 10-15 years, we’ve seen a number of Nobels for game theory contributions, some of which involved more or less applied work. But we have yet to see anyone win for the massive insights that game theory provided to our understanding of competition among firms.Tirole is the most obvious candidate to be rewarded for those advances. YangC Says: September 14, 2009 at 11:57 am In the past couple of years, Hyperwage Theory has become controversial since it came out in 2005, because it has a specific solution to reducing poverty in the Third World countries. The only problem — the solution is one that is the opposite conventional wisdom. A few economics teachers are now giving the theory as basis for critiques. (I am a math major so I do not know one economic theory from the other, but the portion i’ve read makes sense to me. I think the Nobel should consider Hyperwage Theory at least. Ralph Byrns Says: October 9, 2009 at 5:39 pm Fehr, Rabin, and Thaler all deserve serious consideration. Their varied contributions in behavioral e conomics force us to rethink what economics has been (the study of decisionmaking and its consequences) versus economics as more narrowly focused on rational decisionmaking. If economics is defined, per the views of some scholars, as focused only on raional decisionmaking, then we are doomed to irrelevance in a world that is increasigly in need of multidisciplinary research. David Says: October 11, 2009 at 12:17 amIt is only a wishful thought, but I would be very happy if Tom Sargent wins the prize. Not only a great academic, but also a great person and teacher. Thanks. What This Year’s Nobel Prize in Economics Says about the Nobel Prize in Economics: By STEVEN D. LEVITT Earlier today, Elinor Ostrom and Oliver Williamson were awarded the Nobel Prize in economics for their work on the role of institutions. Congratulations to both of them! When I was a graduate student at MIT back in the early 1990’s, there was a Nobel Prize betting pool every year. Three years in a row, Oliver Williamson was my choice.At the time, his research was viewed as a hip, iconoclastic contribution to economics — something that was talked about by economists, but those students was not actually trying to emulate (and probably would have been actively discouraged from had they tried to do so). What’s interesting is that in the ensuing 15 years, it seems to me that economists have talked less and less about Williamson’s research, at least in the circles in which I run. I suspect most assistant professors of economics have barely heard of him. Yet I suspect the older generation of economists will applaud this choice.The reaction of the economics community to Elinor Ostrom’s prize will likely be quite different. The reason? If you had done a poll of academic economists yesterday and asked who Elinor Ostrom was, or what she worked on, I doubt that more than one in five economists could have given you an answer. I personally would have failed the test . I had to look her up on Wikipedia, and even after reading the entry, I have no recollection of ever seeing or hearing her name mentioned by an economist. She is a political scientist, both by training and her career — one of the most decorated political scientists around.So the fact I have never heard of her reflects badly on me, and it also highlights just how substantial the boundaries between social science disciplines remain. So the short answer is that the economics profession is going to hate the prize going to Ostrom even more than Republicans hated the Peace prize going to Obama. Economists want this to be an economists’ prize (after all, economists are self-interested). This award demonstrates, in a way that no previous prize has, that the prize is moving toward a Nobel in Social Science, not a Nobel in economics. According to Eric A:Elinor Ostorm’s work is much more in the realm of economics than I believe you give her credit for, regardless of wheth er economists have heard of her. She did work in the allocation of resources and how economic institutions and situations are formed. Her work is incredibly important in understanding that. The majority of economists just postulate the existence of economic institutions and the matters of economic decision making and then study the behavior – without ever questioning where the institutions and units that permitted that behavior ever came from.Her work is helpful in explaining that because she gets away solely from the economic perspective and looks at it from what circumstances and how we as humans function allows us to set up those institutions. It’s a failure of economists to not recognize some of the implications for her work; not the failure of the Nobel committee for honoring her insights into â€Å"New Institutional Economics. † Also, take a look at yourself. You’ve won a Clark medal and most of your work could easily be classified as sociology.If y ou had a degree in sociology and did the same work, you could make the same case that the Clark medal is becoming a prize for â€Å"social sciences†; but because your degree is in economics it’s without notice. I’m curious though, were economists upset by the prize being awarded to Thomas Schelling whose most impressive work is arguably just political science with insights from economics and game theory? Or because he’s an economist by training and manner that his prize is still considered an â€Å"economics prize†?Perhaps the award will act as a wakeup call to economists – just because it’s not called â€Å"economics† doesn’t mean it’s not applicable to your field. The natural sciences figured this out decades ago when the fields started to converge upon one another (see: the line between areas like physical chemistry and physics) – perhaps economist needs to start looking at the advantageous of political science research when it is clearly applicable to their area of study, rather than just ignoring it.One of the reasons the natural sciences have seen an explosion in information and advancement in the 20th century is because of the breaking down of barriers between fields and using insights of other areas in a synthesis – economics should do the same where applicable in fields of political science, sociology, and psychology. According to Sebastian The people who feel the need to comment on Obama here should be ashamed: This is an amazing day for two highly original, fascinating scientists. Why can’t you talk about their work or shut up? And the Obama Nobel jokes were old on Saturday, already). I actually don’t think that economists are going to hate this quite as much as Levitt thinks. I think Krugman is right that this is a price for institutional economics and I think many people can relate to that, especially as it’s also timely – institutional economics is very good in addressing regulation – be it of CO2 emissions or of the financial system. Certainly no begrudging from Alex Tabarok at MR, Krugman on his Blog and Michael Spence at Forbes. Too bad you don’t say a little more of their work.Readers who want to learn something should go to MR, which has two fantastic short posts. CONCLUSION: In this year Nobel Prize in economics 2009 gets Elinor Ostrom and Oliver E. Williamson jointly in this year. For her analysis of economic governance Elinor Ostorm gets the prize, especially the commons and Oliver E. Williamson received the prize for his contributions to the economic governance, emphasizing the boundaries of the firm and its role in conflict resolution and case bargaining. Many economist and critics has given their speech about the novel prize award of this year.Some of them criticize the novel committee for giving the prize of these two persons while others congratulate the prize winners as well as the nove l committee. Different people have different viewpoint but we think that Elinor Ostorm and Oliver E Williamson won the prize for their great contribution on the economic field. In the time of economic recession they analyzed economics governance and find out what are the reasons behind the economic recession. So we think that they received their prize for their great contribution in economics. References: Newspaper Magazine Articles on Novel prize in 2009 and Internet

Employee Performance Essay

The process of producing an environment in which individuals can perform duties to the best of his or her ability is known as performance management. The processes of performance management start when the company requires an employee to perform a specific and ends when an employee departs from the organization (Heathfield, 2013). At Riordan Manufacturing there are many important positions that depend on the performance management system to ensure that employees achieve company set goals and objections. Riordan Manufacturing performance management systems are very important. The two positions chosen by Team D to discuss in this paper are the customer service rep and chief financial officer. Team D will describe the general function of performance management systems, suggest two job evaluation methods for the positions, suggest two job evaluation methods for each position, and determine the advantages and disadvantages of the methods concerning each position. Team D will also compare and contrast possible compensation plans for the two positions and explain the importance of providing employee benefit plan to the customer service rep and chief financial officer positions at Riordan Manufacturing. General Function of Performance Management Riordan Manufacturing uses performance managing systems that include annual pay modifications based upon performance, along with employee recognition programs. Riordan’s determines the company’s annual pay changes by the position in relation to the external market, along with performance expectations set by the company. The performance expectations fall into three categories, which are does not meet, meets, and exceeds. Increase in pay is always a motivator for increasing performance and productivity among  employees. Riordan Manufacturing also offers three kinds of awards/programs for their employees under their performance management systems. The company offers an outstanding employee award once a year. Riordan’s management and employees nominate high performance employee who have achieved high rating in employee performance. The company’s committee of executives reviews the candidates selected and presents the winner with the most outstanding employee ’s award. One qualification is modeling respect for diversity, which is something that Riordan is serious about. Riordan rewards the value the company has in the morals of employees. The other award given by Riordan is the seniority award. The company gives these awards to employees as he or she complete career milestones at one year, fifth year, tenth year, and 20th year. Although the seniority award is not monetary, it is important for the employees to notice that Riordan is noticing their loyalty and contributions to the company. The last program offered by Riordan under their performance management systems is the employee suggestion program. The company gives this reward to employees when he or she make suggestions for products put into place. The employees receive a $25 check and their picture in the company newsletter; although this does not measure the staff’s daily performance it does motivate them to make contributions for the good of the company. Using performance management systems helps Riordan rate the employee’s performances and motivates each employee to work as a team. For example, using the annual pay adjustments it would becoming apparent to Riordan executives that employees were not doing their jobs if they rated â€Å"does not meet† for two years in a row, it would be time for a face-to-face. Job Evaluation Methods Riordan Manufacturing currently employs 550 employees. The company has positions ranging from production to chief legal counsel. The company takes pride in attracting highly qualified employees. Each position at Riordan plays a vital role to the company’s success. Therefore, company expects each employee to focus on achieving the company’s mission and goals. Many of the company’s job functions performed by employees assist Riordan in maintaining a competitive advantage on the market. Two important positions held at Riordan Manufacturing are the customer service representative and the  Chief Financial Officer. The customer service is one of the many faces of Riordan as the employee interacts directly with the customers of Riordan. The Chief Financial Officer takes on the responsibilities within Riordan and directs the human resources functions along with the financial operations. The customer service representative is a valuable position that would work well wit h the classification method. The classification method works well with organizations that have several locations or many employees. Therefore, Riordan classifies each customer service representative with other similar job content or classes. The advantage of using the classification method is that it will allow Riordan to organize easily the many positions along with establishing a compensation package for each position based upon their classification. Some of the disadvantages may include several positions appearing to fit in more than one class or the classifications may seem biased or subjective judgments. With the chief financial officer (CFO) possessing a more critical position and role within the company, the ranking method may also be beneficial to Riordan. The ranking method for job evaluations is quite simple and in most instances inexpensive. This can often reduce the money spent on implementing strategic techniques and be applied in other areas of Riordan such as company improvements, or employee rewards. The disadvantage of the ranking method is that it can be subjective or rely heavily on a person or group of people to determine the worth of each position. There are several job methods used to perform job evaluations; however, it is essential for Riordan or any organization to determine which one will most suites the company and aid in its success. Compensation Plans It is important to have competitive and attractive compensation plans to ensure that Riordan attracts highly qualified employees. There are many options or approaches to use with compensation plans. The employee’s position often dictates what type of compensation plan he or she receives. For a customer service representative (CSR), compensation plans may include a basic wage structure along with a merit pay incentive. With merit pay, the CSR receives an increase in pay based on a percentage (DeCenzo & Robbins, 2007). Employees who perform better typically receive a greater percentage increase. Another option is a pay-for performance program. This option uses  performance measures to determine the employee’s pay rate and not just time spent on the job. Each employee’s pay rate depends on his or her individual, team, department, or organizational productivity (DeCenzo & Robbins, 2007). Both of these compensation plans are effective but some employees may worried about not knowing what his or her pay rate is ahead of time in the pay-for-performance program. The compensation plans for the CFO are different from those provided for CSR’s. As an executive member of Riordan, the CFO’s salary is substantially higher than the lower-level employees. For example, the current Riordan CFO, Dale Edgel, received an annual salary of $125, 00 with the ability to earn up to 30% of his salary in executive bonuses (Riordan, 1999). Compensation plans for executive employees are considerably higher because of his or her level of responsibility. That responsibility not only provides the executives with higher salaries but also compensation plans that include stock option plans. Executive compensation plans serve the same purpose as those used from lower-level employees. Executive positions typically require specialized or advanced education and employees who meet those requirements can be very selective when choosing a job. The compensation plans for those positions must be very attractive to appeal to those individuals. Importance of Employee Benefits Riordan understand that benefits are essential in today’s workforce to retain current talent and attract new high-level talent. Riordan has benefit packages required by law, such as Social Security, Workers’ Compensation, Unemployment Compensation, and FMLA. The company also offers vacation benefits, 401k plans, childcare assistance plan, dental, educational assistance, flextime scheduling, and holiday pay to attract and retain employees. The company offers these benefits to full-time employees when hired into the company, and he or she can accrue more perks as tenure at Riordan grows. Riordan understands that employees need a benefit package that promote a work life balance, the ability to take care of his or her family in case of a medical emergency, and to plan for his or her future. Whether the employee is the CFO or a CSR the benefit package does not change. Employees who believe a company is willing to take care of him or her makes job satisfaction and employee engagement much easier to  achieve. Furthermore, employees who believe he or she is capable of advancing his or her career and the company paying for it helps entry-level employee. The company encourages customer service rep to believe that he or she has a future in becoming a future chief financial officer. Riordan provides Education Assistance Programs to help employees grow a skill set that relates to his or her role in Riordan. Although it does not guarantee advancement, it does promote engagement and sustain performance for the company’s staff. Riordan commits to making each employee know he or she is a value to the company from the top of the company to the entry-level jobs. The company understands that providing benefits in today’s economy is important in attracting the most talented and motivated individuals and believe the company’s array of benefits help accomplish goals and promote a healthy work environment. Conclusion Riordan Manufacturing recognizes the processes of performance management are essential in today’s working environment. Riordan Manufacturing Corporation’s process of performance management will assist the company in enhancing employee job satisfaction and commitment. Riordan Manufacturing used various job performance methods for each individual job position the company. These job performance methods help the company to maintain financial strength and promote employee growth. Riordan performance management’s process also includes an attractive compensation, employee benefits plan to attract highly qualified employees. Using this process is what helps Riordan Manufacturing ensure employees achieve company goals, and objections, and sustain the company’s employee job satisfaction. References DeCenzo, D., & Robbins, S. (2007). Fundamentals of human resource management (9th ed.), retrieved from The University of Phoenix eBook Collection database. Heathfield, S., 2013, Performance Management, Retrieved from http://humanresources.about.com/od/glossaryp/g/perform_mgmt.htm Riordan, Michael (August 15, 1999) Retrieved from https://ecampus.phoenix.edu/secure/aapd/CIST/VOP/Business/Riordan/docs/HR/EmpFiles/Dale%20Edgel%20Offer%20Letter.pdf

Biography of Georgy Zhukov, World War II Soviet General

Marshal Georgy Zhukov (December 1, 1896–June 18, 1974) was the most important and most successful Russian general in World War II. He was responsible for the successful defense of Moscow, Stalingrad, and Leningrad against German forces and eventually pushed them back to Germany. He led the final attack on Berlin, and he was so popular after the war that Soviet Premier Joseph Stalin, feeling threatened, demoted him and moved him to obscure regional commands. Fast Facts: Marshal Georgy Zhukov Rank: MarshalService: Soviet Red ArmyBorn: Dec. 1, 1896 in Strelkovka, RussiaDied: June 18, 1974 in Moscow RussiaParents: Konstantin Artemyevich Zhukov, Ustinina Artemievna ZhukovaSpouse(s): Alexandra Dievna Zuikova, Galina Alexandrovna SemyonovaConflicts: World War IIKnown For: Battle of Moscow, Battle  of Stalingrad, Battle of Berlin Early Life Georgy Zhukov was born on December 1, 1896, in Strelkovka, Russia, to his father, Konstantin Artemyevich Zhukov, a shoemaker, and his mother, Ustinina Artemievna Zhukova, a farmer. He had an elder sister named Maria. After working in the fields as a child, Zhukov was apprenticed to a furrier in Moscow at age 12. Completing his apprenticeship four years later in 1912, Zhukov entered the business. His career proved short-lived because in July 1915, he was drafted into the Russian Army to honorably serve during World War I. Following the October Revolution in 1917, Zhukov became a member of the Bolshevik Party and joined the Red Army. Fighting in the Russian Civil War (1918-1921), Zhukov continued in the cavalry, serving with the famed 1st Cavalry Army. At the wars conclusion, he was awarded the Order of the Red Banner for his role in putting down the 1921 Tambov Rebellion. Steadily rising through the ranks, Zhukov was given command of a cavalry division in 1933 and later was named deputy commander of the Byelorussian Military District. Far East Campaign Evading Russian leader Joseph Stalins Great Purge of the Red Army (1937-1939), Zhukov was selected to command the First Soviet Mongolian Army Group in 1938. Tasked with stopping Japanese aggression along the Mongolian-Manchurian border, Zhukov arrived after the Soviet victory at the Battle of Lake Khasan. In May 1939, fighting resumed between Soviet and Japanese forces. They skirmished through the summer, with neither gaining an advantage. Zhukov launched a major assault on August 20, pinning down the Japanese while armored columns swept around their flanks. After encircling the 23rd Division, Zhukov annihilated it, forcing the few remaining Japanese back to the border. As Stalin was planning the invasion of Poland, the campaign in Mongolia ended and a peace agreement was signed on September 15. For his leadership, Zhukov was made a Hero of the Soviet Union and was promoted to general and chief of general staff of the Red Army in January 1941. On June 22, 1941, the Soviet Union was invaded by Nazi Germany, opening the Eastern Front of World War II. World War II As Soviet forces suffered reverses on all fronts, Zhukov was compelled to sign the Directive of Peoples Commissariat of Defense No. 3, which called for a series of counterattacks. Arguing against the plans in the directive, he was proven correct when they suffered heavy losses. On July 29, Zhukov was sacked as chief of general staff after recommending to Stalin that Kiev be abandoned. Stalin refused, and more than 600,000 men were captured after the city was encircled by the Germans. That October, Zhukov was given command of the Soviet forces defending Moscow, relieving Gen. Semyon Timoshenko. To aid in the citys defense, Zhukov recalled Soviet forces stationed in the Far East, quickly transferring them across the country. Reinforced, Zhukov defended the city before launching a counterattack on December 5, pushing the Germans 60 to 150 miles from the city. Afterward, Zhukov was made deputy commander-in-chief and was sent to the southwestern front to take charge of the defense of Stalingrad. While the forces in the city, led by Gen. Vasily Chuikov, battled the Germans, Zhukov and General Aleksandr Vasilevsky planned Operation Uranus. A massive counterattack, Uranus was designed to envelop and surround the German 6th Army in Stalingrad. Launched on November 19, Soviet forces attacked north and south of the city. On Feb. 2, the encircled German forces finally surrendered. As operations at Stalingrad concluded, Zhukov oversaw Operation Spark, which opened a route into the besieged city of Leningrad in January 1943. Zhukov was named a marshal of the Soviet military, and that summer he consulted for the high command on the plan for the Battle of Kursk. Correctly guessing German intentions, Zhukov advised taking a defensive stance and letting the German forces exhaust themselves. His recommendations were accepted and Kursk became one of the great Soviet victories of the war. Returning to the northern front, Zhukov lifted the siege of Leningrad in January 1944 before planning Operation Bagration. Designed to clear Belarus and eastern Poland, Bagration was launched on June 22, 1944. It was a stunning triumph, Zhukovs forces stopping only when their supply lines became overextended. Then, spearheading the Soviet thrust into Germany, Zhukovs men defeated the Germans at Oder-Neisse and Seelow Heights before encircling Berlin. After battling to take the city, Zhukov oversaw the signing of one of the Instruments of Surrender in Berlin on May 8, 1945. To recognize his wartime achievements, Zhukov was given the honor of inspecting the Victory Parade in Moscow that June. Postwar Activity Following the war, Zhukov was made supreme military commander of the Soviet Occupation Zone in Germany. He remained in this post for less than a year, as Stalin, threatened by Zhukovs popularity, removed him and later assigned him to the unglamorous Odessa Military District. With Stalins death in 1953, Zhukov returned to favor and served as deputy defense minister and later defense minister. Though initially a supporter of Soviet leader Nikita Khrushchev, Zhukov was removed from his ministry and the Communist Party Central Committee in June 1957 after the two argued over army policy. Though he was liked by Communist Party General Secretary Leonid Brezhnev and Soviet leader Aleksei Kosygin, Zhukov was never given another role in the government. He remained in relative obscurity until Khrushchev fell from power in October 1964. Death Zhukov married late in life, in 1953, to Alexandra Dievna Zuikova, with whom he had two daughters, Era and Ella. Following their divorce, in 1965 he married Galina Alexandrovna Semyonova, a former military officer in the Soviet Medical Corps. They had a daughter, Maria. The World War II hero was hospitalized after suffering a serious stroke in 1967 and died after another stroke on June 18, 1974, in Moscow. Legacy Georgy Zhukov remained a favorite of the Russian people long after the war. He was awarded Hero of the Soviet Union four times in his career—1939, 1944, 1945, and 1956—and received many other Soviet decorations, including the Order of Victory (twice) and the Order of Lenin. He also received numerous foreign awards, including the Grand Cross of the Legion dHonneur (France, 1945) and the Chief Commander, Legion of Merit (U.S., 1945). He was allowed to publish his autobiography, Marshal of Victory, in 1969.