Gary Becker

of this journal entry is to discuss the cost/benefit analysis of extending a life, and to consider how it may impact the family financially vs. the expenses of caring for someone who is seriously ill. Examining the cost benefits of extending a life, depends upon many factors. One would have to weigh issues such as, whether or not the person is diagnosed with a terminal illness? Is the person is old and frail? Is this a young person, or someone who has a family to raise, or income to bring in? American economist Gary Becker (2011) questioned if there were indeed sizable benefits from extending life, and measure the statistical value of a life per year for the average young or middle aged American at around $120,000 (para. 4). This is in comparison to the average earnings for that age group which is $45,000, but the value of life estimates includes the value of hours not spent in the work place, and other utilities a person provides in that life (Becker, 2011). In short, the value of a person’s life is much more than a dollar amount, when considering how much a human contributes to society or the lives of others. When I think about the value of life, a fond memory comes to mind. My husband was stationed in Naples, Italy, and Mozzarella cheese was made from the milk of water buffalo from the Campania, region. A farmer I purchased the cheese from told me that there was an Italian law, whereas if one were to injure or kill a water buffalo, that the fee would be…

that HRM practices affect performance indirectly through intervening factors referred to as HR outcomes. Beer et al, (1984) propose competence, commitment, congruence and cost effectiveness as an intermediary variables. Becker and Huselid (1998) identified variables such as employee skills, employee motivation, job design and the work structure link to operating performance which in turn influences the profit and the market value. The approach of using intermediary variables is adopted in many…

In this essay I am going to discuss Gary Stanley Becker. He was born on December 2nd 1930 in Pottsville, Pensilvania and died on 3rd May 2014 in Chicago, Illinois. He was a major economist that received the Nobel Prize in Economics in 1993 for his work in widening the field of microeconomic study to include a increased range of human actions including non trade behaviour . I will discuss briefly his life and how it contributed to his work. Additionally I will aim to discuss his three main…

The uneven distribution of wealth in a society is explicit but the rationales behind it are implicit. Gary Becker and Kevin M. Murphy, both economists, tackle the positive aspects of income inequality in their article “The Upside of Income Inequality” featured by The American Enterprise Institute. Becker and Murphy argue for the positive correlation between income inequality and education levels. With background information of the publishers and the authors to cater towards credibility, Becker…

In the essay, “Upside of Income Inequality” Gary Becker and Kevin Murphy explains how education is directly related to the economic income gap. The authors suggest that the gap is due to the increase in return of human capital that education brings. They think the economic crisis we are in, is not to be blamed on the gap but on the policy makers that do not help the people who have not gotten a higher education. In this essay the authors, Becker and Murphy say that education is the only way…

In “The Upside of Income Inequality” Gary Becker and Kevin M. Murphy shed light on wealth gap, the reason behind it and the lesser thought perks it has. Throughout the article, the writers claim that it should be noted that inequality accord with being appreciative towards the return on investments made in human capital i.e. it rewards those who educate themselves more and are more adept and so is a positive catalyst toward the wage gap. According to me, the writers came across quite biased and…

In tennis, there are a few movements that are key to winning the match. When someone plays tennis they are looking for the other player to make a mistake, or to make a shot too hard for the other player to hit. The basic movements of a tennis match are serves and rallies. How a player hits the ball with their racket determines what speed, spin, and trajectory of the ball. These actions can be analyzed through the lens of a physicist to find out what exactly happens. Let’s begin with the serve.…

Goal 2: Improve physical and mental health Objectives: I will exercise twice a week for 30 minutes and do individual or group based yoga three times a week for 30 minutes Strategies: I will attend yoga sessions at the local YMCA. I will attend my local gym two times a week. I will walk around the track at the gym and do the row machine. I will keep track of this by completing a self-monitoring system and rewarding myself with a new journal or another reinforcer for completing the yoga and…

Leadership Goal 1 Goal Number 1 – Cognitive: “Keep the mind sharp” – Continual Learning Relevant Areas of Growth 1 – Critical and Creative Thinking 1. Personal Impact – Professional development; become more knowledgeable in the fraud prevention and intelligence spheres and have more opportunity for advancement within the Army Reserve and my civilian career. 2. Impact on others – Articulate information to support priority intelligence requirements to a higher headquarters. 3.…

Ernest Becker once said, “Man is literally split in two: he has an awareness of his own splendid uniqueness in that he sticks out of nature with a towering majesty, and yet he goes back into the ground a few feet in order blindly and dumbly to rot and disappear forever.” Hayley says there are only two types of people in the world: zombies and freaks. While Hayley’s aphorism was an admirable effort to display her attempt at a doctrine of ontological truth, Ernest Becker’s adage is a neurostorm…