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BUREAUCRACY:
M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "officers, clerks, secretaries, inspectors and attendants are not appointed to benefit the public interest. Indeed the public interest appears to have been established so that offices might exist". Harolds J. Laski defines the term bureaucracy as a system of Government, the control of which is so completely in the hands of officials that their power jeopardises the liberties of ordinary citizens. The characteristics of such a regime are a passion for routine in administration, the sacrifice of flexibility to rule, delay in the making of decisions and a refusal to embark upon experiment. In extreme cases, the members of a bureaucracy may become a hereditary caste manipulating Government to their own advantage. Max Weber, the German social scientist thinks that bureaucracy is among those social structures which are the most difficult to eliminate. Bureaucracy is an ideal type as it is based on impersonal and rational basis. Weber classifies the authority as traditional, i.e. "resting on an established belief in the sanctity of immemorial traditions and the legitimacy of the status of those exercising authority under them", charistmatic i.e. "resting on the devotion to the specific and exceptional sanctity, heroism or exemplary character of an individual person, and of the normative patterns or order revealed or ordained by him", and legal, i.e., "resting on the premises of legality of patterns of normative rules and the right of those elevated to authority under such rules to issues commands". Legal authority is superior and more logical than charismatic.
Labor Productivity - Labor Productivity and Standard of Living - Consumption can increase if productivity increases. - Determinants of Productivity Stock of capit
Slope of an Iso-quant: Since along an iso-quant the level of output remains the same, if θL units of θL are substituted for K units of K, the increase in output due to θ L
cobb douglas production function?
Fixed costs are those which are independent of output that is they do not change with changes in output. These costs are a fixed amount which must be incurred by a firm in the shor
Lending Operations of World Bank: Resources of the Bank consist of the capital and borrowings. The capital of the bank is contributed by its 184 member-countries. Besides,
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An economist's view of costs contains both explicit and implicit costs. Explicit costs are accounting costs, and implicit costs are the opportunity costs of an allocation of resou
Ways in which the markets fail and discuss why government intervention is justified and whether government intervention works or not.
determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}
The drawbacks of a mixed economy actually depend on how "mixed" it is. For instance, if it is mixed more towards a free-market, there is little regulation (some may see this as a g
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