ECONOMIC institution and policy(British economy) Essay - 1

ECONOMIC institution and policy(British economy) - Essay Example Globally, the manufacturing sector of UK is the sixth largest in the one and is one of the largest exporters of heavy industrial products1. The table underneath hints towards the growth of UK manufacturing and service sectors, between 1970 and 1994 compared to other nations. The base year being considered in this case is 1970 and the growth rate is found to be rather low over the years in relation to those for other nations. The progress of the sector is found to be quite low in contrast to the domestic service sector2. The present paper addresses the progress of the manufacturing sector over the years between 1970 and 2010 through illustrating its economic and social contribution to the economy of UK. It makes use of secondary quantitative data to draw a comparison over time and analyses on the basis of the same. Economic Contribution of UK’s Manufacturing Sector The following figures help in evaluation of the degree to which the manufacturing sector of UK has evolved over th e years since 1970 till 2010. ... Between 1970 and 2008, the percentage of contribution of industry behind national production has receded fast. The downfall had been the highest towards the end of 1970s as could be noted from the large difference in the statistic between 1970 and 1975 continuing to that in 1980. The diminishing contribution however, is not much reflected if gross fixed capital formation as percentage of GDP is considered. As the corresponding graph shows, the rate of capital formation had remained more or less stable over the years. Since capital formation is held identically equal to investment in capital, it could be implied that UK manufacturing sector did not contribute proportionally to the amount being invested in it. In other words, manufacturing sector suffered from a diminished productivity over time. Inward investment in UK manufacturing sector of UK is found to be fluctuating over time, as it falls down to a lower value from 1986 to 1991 and then improved to a positive value from 1991 to 1996 and to a further higher value in 2001. However, the downfall had been stark between 2001 and 2006 when growth rate of inward investment had been approximately equal to 60 percent. This only implies the erratic behaviour of the manufacturing sector of UK which over the years has lost its previous glory on account of a number of unavoidable reasons. Growth in industrial production too had been quite low over the years. To be precise, as the diagram below shows, UK manufacturing sector did not come across a consistent period of positive growth since 1970. Post 1970, the sector saw an entire decade of negative industrial growth. However, it gained momentum as growth rate surged up from 1980 to 1985 by 5.14 percentage points. But the following period of 15 years saw modest growth

Mandatory Vs. Voluntary Vaccincations Essay Example | Topics and Well Written Essays - 750 words

Mandatory Vs. Voluntary Vaccincations - Essay Example It is therefore important for those concerned to understand the pros and cons of both sides of the issue. There are always a number of factors to consider in both cases and these factors must be presented in the most authoritative and methodical manner for their decision making benefit. Perisic and Bauch (2009) have advocated the point of view of certain theorists when it comes to voluntary vaccination. It is their belief that â€Å"it should be difficult or impossible to eradicate a vaccine-preventable disease under voluntary vaccination: Herd immunity implies that the individual incentive to vaccinate disappears at high coverage levels. â€Å" Therefore they believe that mandatory vaccinations will not have any positive effect on the health of the individual child. Their theory, is based on historical accounts of the declining effectiveness of vaccines such as the MMR vaccine and whole-cell pertussis vaccine. Although there is some accuracy to their belief, Perisic and Bauch (200 9) based their reports on studies that were conducted in a controlled environment for children such as small communities where their exposure to air borne illness and the like can be controlled and prevented. However, there are also certain theorists who believe the opposite is also true. Meaning that on a large scale setting, leaving a child unprotected / non-vaccinated puts himself and the children around him at risk of infection and creates a network and sleeper carriers in the process. Once of the theorists who believe the opposite of Persic and Bauch is Sullivan (2010) who has tried to get healthcare workers across the country vaccinated against the most common viruses in order to protect the people around them and the people they care for. It is the belief of Sullivan (2010) that this lack of mandatory vaccination has led to the creation of adult viruses carriers and allowing the mutation of viruses along the way which can easily infect both the young and old due to the exposu re that the health care workers have on the job. Proponents of voluntary vaccinations claim that it is useless to get vaccinated because the government and our scientists continue to churn out imperfect vaccines this is according to Wu and Wang (2011). Considering that there have been instances wherein and individual's immune systems fails to absorb and fight off the controlled virus via vaccination, those who support mandatory vaccination believe that it is better to be vaccinated most of the time. They base their argument on what they consider to be a fact. That the government would have put a stop to the vaccination development sector eons ago. The debate on whether to allow mandatory of voluntary vaccinations reminds me of the same debate raging on within the HIV community. Even though the public realizes how easily the HIV virus can be transmitted from the mother to the child in the womb, HIV positive women still refuse mandatory HIV testing during pregnancy (Armstrong, 2008). The mandatory versus voluntary HIV testing procedure during pregnancy is still a hotly debated issue in our modern times. On the vaccination front, the major supporters of the voluntary vaccination issue, namely the concerned parents, add that their beliefs pertaining to