Lissez-Faire Economy and Functions of Government Coursework

Lissez-Faire Economy and Functions of Government - Coursework Example Laissez-faire economy holds the characteristics of a free market economy which supports the idea of working for private interests. This creates a ground for innovation and creativity to blend into an economy and work in the most efficient manner. In a laissez-faire economy, since there is no government intervention, price determination is done by the market forces of demand and supply and there are no regulations to be followed which are set by the government in a command economy. In such an economy, the producers are profit motivated which boosts up entrepreneurial mindset (Sloman, 2007). The following diagram shows the market forces of demand and supply: Adam Smith, who is regarded as â€Å"the father of modern day economics†, supported the idea of a laissez-faire economy and boosted its importance and significance into the course of history. He referred to ‘the invisible hand’ that regulates the well being of an economy, and consequently, since everybody works for self interest, it benefits the economy as a whole. However, Adam Smith himself supported the idea of government intervention up to a certain extent. The United States of America is a good example where a â€Å"laissez-faire† economy was under practice for a certain period of time. â€Å"Laissez-faire† gained popularity in America because of Adam Smith’s opinions that the government should not indulge too much in the running of economic activities. There existed a greater quantity of conservatives who thought that when government intervened, it was imposing too many regulations. Except the help of government in establishing the railroad system in the 19th century, the state did not intervene much into the decision making of the country. There was existence of private ownership of businesses until the economic system of USA started altering after the Great Depression. There was a great incentive of innovation and people constantly worked in their self interest . The state started intervening to reduce the concentration of businesses and to eradicate monopolies. Before that the state did not interfere in resource allocation of the country and the matters did start deteriorating. Private businesses which were on a large scale started victimizing the small firms and created monopolies. There was a need for government regulation and thus government started stepping in the matters of decision making. Today’s economies have evolved from historical economies and differ in nature and characteristics. In earlier times, government intervened a little too less into how an economic system was supposed to be established. Today’s economies support government intervention and mixed economies have come into existence. A government has vital roles to play and has proved to be beneficial at certain times. A government aims to provide the basic necessities that people or a country require. Its primary aim is to provide security and defense to guard the country against external threat. This enables the people to live in peace and carry out economic activities in the most efficient manner. Also, the government is there to serve justice to people and prevent any illegal activities to take place. But sometimes it pays too much attention on providing security and defense which results in suppression of creativity or innovation that could have resulted in entrepreneurial activities. A government

Water Quality Research Paper Example | Topics and Well Written Essays - 1000 words

Water Quality - Research Paper Example Different bodies set the standards for basing water quality measurements. The primary purpose for setting standards is protection of aquatic and human life. Standards The concerned organizations set different standards according to the varying uses of water (WHO 1). Environmental factors affect natural water bodies and environmental specialists work to identify sources of contamination. Many people usually associate the term â€Å"water quality† with contamination. Water quality, as a topic under discussion, is a complex subject since water cannot be separated from the ecology. The chief cause of water pollution on the globe is its use in industrial and commercial sectors of the economy. Untreated wastes from industries pose a significant threat to aquatic, as well as human life. Runoff water from agricultural activities also contaminates water. Parameters As stated earlier, standards for measuring water quality are set accordingly as uses of water vary. The intended use of wa ter, therefore, sets parameters for water quality. There is a focus on water treated for use in industries, by human beings or in the environment. Contaminants in untreated water intended for human use comprise of organic contaminants (chemical contaminants from industrial and petroleum use), inorganic contaminants (salts and metals), and microorganisms (bacteria and viruses). Water quality depends on bio network or ecology, as well as human uses of water. For example, water may be used to dispose sewage or industrial waste thereby affecting its quality (Kaul and Gautam 4). The United States Environmental Protection Agency (EPA), established in 1970s, has set two types of standards to limit contaminants in tab water. These standards are primary, which regulate substances that are likely to harm health of people, and secondary. Secondary standards dwell on the qualities that have an effect on odor, appearance and taste. Drinking water may have low levels of contaminants which may not necessarily pose a threat to health. Municipal water systems in urban areas use water purification technology to treat water from the source before distributing for human use. The terms â€Å"hard† and â€Å"soft† water describe types of water needed for industrial or domestic use. Hard water contains minerals, for example, magnesium and calcium, which hamper effective washing abilities of soap. Soft water, on the other hand, does not have minerals and people prefer it for washing. Soft water is not healthy for human consumption since it lacks minerals needed by the body. Therefore, softening of hard water for human use is not advisable. Environmental water quality touches on surface water in oceans, rivers and lakes. The quality standards for such water vary due to flora and fauna, ecological conditions and intended human use (â€Å"Water quality targets online† 10). Toxic substances in water, needed for fishing, irrigation and industrial use, present risk to health. Plants irrigated with such water absorb toxins which get passed on along the chain as animals consume them. Toxins also have adverse effects on aquatic life. Water quality regulations set standards for protection of water, and establish provisions to guard against water contamination. Environmental scientists strive to preserve flora and fauna and focus on preservation of endangered kind and the health of people. Water quality sampling and testing There are numerous water quality indicators which shows that water quality as an area under discussion is multifaceted. Water exists in balance with the environment and, hence, experts make precise measurements of water quality on the source. Measurements of temperature, turbidity, conductivity, dissolved gases, and transparency depth (closely related to