Unit 1

Submitted By:
MD:ERSHAD ULLAH
ID:16O1121412

2.1 Explain how economic systems attempt to allocate resources effectively

2.1.1 Introduction:
Economic systems are playing a vital role to allocate resources effectively and
resources are important factor for business growth. In the following sections we will
describe all these factors in brief. We will start by defining economic system and
resources.
References:
1) Treneman, Ann (24 July 2007). "Puritanism comes too naturally for 'Huck'
Brown". London: Times Online.
http://www.timesonline.co.uk/tol/news/politics/article2127640.ece.

2.1.2 Discussions:
Economic system and resources both are important factors for potential development
in any sector especially business sector. Without allocating resources appropriately a
large or small business cannot develop and as a result economic condition of an
economic zone can damage. In the later sections we will discuss all important factors
by turn in brief.
References:
1) Major recessions: Britain and the world, 19201995, Christopher Dow, Oxford
University Press, 2000, p. 303
2.1.3 Economic Systems:

An economic system is the combination of the various agencies, entities (or even
sectors as described by some authors) that provide the economic structure that defines
the social community. These agencies are joined by lines of trade and exchange along
which goods, money etc. are continuously flowing. An example of such a system for a
closed economy is shown in the flow-diagram. The economics system involves
production, allocation of economic inputs, distribution of economic outputs, landlords
and land availability, households (earnings and expenditure consumption of goods and
services in an economy), capitalists, banks (finance institutions) and government. It is
a set of institutions and their various social relations.
References:
1) Prospect magazine supplement, The return of manufacturing in Britain. "The
credit crunch has exposed our overdependence on the financial sector", The
Return of Manufacturing, Michael Prest, UK Manufacturing Prospect magazine
2009, p. 4

2) How Margaret Thatcher made Britain great again, Andrew Roberts, The First
Post, 25 February 2009 How Margaret Thatcher made Britain great again, "She
changed British reliance on manufacturing industry just in time"

2.1.4 Resources:
Resource economics is a subdivision of economics dealing with the scarcity of the
Earth's natural resources, particularly how it relates to humans' uses of those
resources. Resource economics deals not only with use, but also sustainability of
those resources. Thus, this field of economics is particularly interested in those fields
which take resources from the Earth, whether renewable or non-renewable.
References:
1)

Barnes, Peter, Capitalism 3.0, A Guide to Reclaiming the Commons, San

Francisco 2006, Whatiseconomy.com

2)

Dill, Alexander, Reclaiming the Hidden Assets, Towards a Global Freeware

Index, Global Freeware Research Paper 01-07, 2007, Whatiseconomy.com

2.1.5 Resources allocations by Economic System:

There are various ways of organizing this system of production and distribution, some
more humane than others As a n example we can say a purely communist system that
have called themselves communist were more centralized systems, where elite leaders
controlled the means of production and the distribution of resources within the
country, with little or no democratic input.
Another possible economic system is socialism, where the government owns the
means of production and oversees distribution by setting prices and wage levels. If
this government is subject to regular elections, such a system would be known as
democratic socialism. Conversely, dictatorships can claim to have socialist economic
systems, with a centralized government owning the means of production and
controlling the distribution of resources, as in Nazi Germanys National Socialist
German Workers Party. Mercantilism was an economic system that dominated
Western Europe from 1400 to 1800. In this system colonies and colonizers interacted
in a synergetic economic system in which both parts worked together to produce and
allocate resources for the whole: The so-called mother country (as in the case of
England) imported raw materials from the colonies, which were not allowed to
manufacture goods. Instead, England manufactured goods from these raw materials
and then sold these finished goods to the colonies for a profit. The colonies existed to
benefit the colonizers. At the end of the 18th century, the old mercantile economies of
Western Europe were breaking down as former colonies waged successful wars of
independence (including the British colonies, which became the United States).

References:

1)

Stiglitz, Joseph E., Global public goods and global finance: does global
governance ensure that the global public interest is served? In: Advancing
Public Goods, Jean-Philippe Touffut, (ed.), Paris 2006, pp. 149/164,
GSB.columbia.edu

2)

Where is the Wealth of Nations? Measuring Capital for the 21st Century.
Wealth of Nations Report 2006, Ian Johnson and Francois Bourguignon,
World Bank, Washington 2006, Whatiseconomy.com

2.1.6 Social Policy:

Social policy is the way to live in a society. Social Policy is the study of social
services and the welfare state. In general terms, it looks at the idea of social welfare,
and its relationship to politics and society. More specifically, it also considers detailed
issues in
policy and administration of social services, including policies for health, housing,
income maintenance, education and social work;
needs and issues affecting the users of services, including poverty, old age, health,
disability, and family policy; and
the delivery of welfare
References:
1)

Barnes, Peter, Capitalism 3.0, A Guide to Reclaiming the Commons, San

Francisco 2006, Whatiseconomy.com

2)

Dill, Alexander, Reclaiming the Hidden Assets, Towards a Global Freeware

Index, Global Freeware Research Paper 01-07, 2007, Whatiseconomy.com

2.1.7 Social Change:

Social change refers to an alteration in the social order of a society. It may refer to the
notion of social progress or sociocultural evolution, the philosophical idea that society
moves forward by dialectical or evolutionary means. It may refer to a paradigmatic
change in the socio-economic structure, for instance a shift away from feudalism and
towards capitalism. Accordingly it may also refer to social revolution, such as the
Socialist revolution presented in Marxism, or to other social movements, such as
Women's suffrage or the Civil rights movement. Social change may be driven by
cultural, religious, economic, scientific or technological forces.
More generally, social change may include changes in nature, social institutions,
social behaviours or social relations.

References:
Fehr Ernst, Schmidt, Klaus M., The Economics Of Fairness, Reciprocity and Altruism
- experimental Evidence and new Theories, 2005, Discussion PAPER 2005-20,
Munich Economics, Whatiseconomy.com
2.1.8 Rawlss argument
Rawls theory is that, if persons were to create a society where they did not know into
which social circumstances they would be born, they would rationally choose an
initial position of equality, rather than a system of inequality where an accident of
birth could deny them resources.
2.1.9 Utilitarian principle
The utilitarian principle is in direct contrast to Rawlss principle of justice as fairness.
Rawls posed the difference between the two philosophical positions in the following
way: The question is whether the imposition of disadvantages on a few can be
outweighed by a greater sum of advantages enjoyed by others; or whether the weight
of justice requires an equal liberty for all and permits only those economic and social
inequalities which are to each persons interest.
6

References:

Kantian Constructivism in Moral Theory." Journal of Philosophy (September

1980), 77 (9): 515-572.

"Justice as Fairness: Political not Metaphysical." Philosophy & Public Affairs

(Summer 1985), 14 (3): 223-251.

"The Idea of an Overlapping Consensus." Oxford Journal for Legal Studies

(Spring 1987), 7 (1): 1-25.

2.1.10 Conclusions:
We have tried to all discuss most of the important factors for economic system and
how the systems allocate resources effectively. Although the scope of the discussion
was limited but we have tried to present most important factors within the frame.

2.2 Assess the impact of fiscal and monetary policy on business organisations and
their activities

2.2.1 Introduction:
To run a Business organization and to get potential benefit from the business policy is
very important and it has impact on their activities. In the following sections we will
describe most of the important factors. We will start by defining fiscal and monetary
policy.

2.2.2 Discussions:
A policy is typically described as a principle or rule to guide decisions and achieve
rational outcomes. The term is not normally used to denote what is actually done; this
is normally referred to as either procedures or protocol. Policies are generally adopted
by the Board of or senior governance body within an organization whereas procedures
or protocols would be developed and adopted by senior executive officers. Policies
can assist in both subjective and objective decision making.
And policy is essential to get potential benefit from the current economic situations.
In the later sections we will describe all facts.
2.2.3 Fiscal Policy:
In economics and political science, fiscal policy is the use of government revenue
collection (taxation) and expenditure (spending) to influence the economy.[1] The two
main instruments of fiscal policy are government taxation and expenditure. Changes
in the level and composition of taxation and government spending can impact the
following variables in the economy:

Aggregate demand and the level of economic activity;

The pattern of resource allocation;

The distribution of income.

Fiscal policy refers to the use of the government budget to influence economic
activity

2.2.4 Monetary Policy:

Monetary policy is the process by which the monetary authority of a country controls
the supply of money, often targeting a rate of interest for the purpose of promoting
economic growth and stability. The official goals usually include relatively stable
prices and low unemployment. Monetary theory provides insight into how to craft
optimal monetary policy. It is referred to as either being expansionary or
contractionary, where an expansionary policy increases the total supply of money in
the economy more rapidly than usual, and this policy expands the money supply more
slowly than usual or even shrinks it. Expansionary policy is traditionally used to try to
combat unemployment in a recession by lowering interest rates in the hope that easy
credit will entice businesses into expanding.
Monetary policy differs from fiscal policy, which refers to taxation, government
spending, and associated borrowing.
2.2.5 Impact on Fiscal Policy:
Fiscal policy decisions have a widespread effect on the everyday decisions and
behaviour of individual households and businesses hence in this note we consider
some of the microeconomic effects of fiscal policy before considering the links
between fiscal policy and aggregate demand and key macroeconomic objectives.
Consider the impact of an increase in the basic rate of income tax or an increase in the
rate of national insurance contributions. The rise in direct tax has the effect of
reducing the post-tax income of those in work because for each hour of work taken
the total net income is now lower. This might encourage the individual to work more
hours to maintain his/her target income. Conversely, the effect might be to encourage
less work since the higher tax might act as a disincentive to work. Of course many
workers have little flexibility in the hours that they work. They will be contracted to
work a certain number of hours, and changes in direct tax rates will not alter that.

The government has introduced a lower starting rate of income tax for lower income
earners. This is designed to provide an incentive for people to work extra hours and
keep more of what they earn.
Changes to the tax and benefit system also seek to reduce the risk of the poverty trap
where households on low incomes see little net financial benefit from supplying
extra hours of their labour. If tax and benefit reforms can improve incentives and lead
to an increase in the labour supply, this will help to reduce the equilibrium rate of
unemployment (the NAIRU) and thereby increase the economys non-inflationary
growth rate.

2.2.6 Impact on Monetary Policy:

The monetary policy is the process that determines the buying power of money. Over
the centuries, various benchmarks have been used to do this, such as a unit of gold.
The current benchmark in New Zealand is not gold, but goods and services in general,
as described in the Consumers Price Index calculated by Statistics New Zealand. Thus
when money is holding its value, prices on average are stable. This confers significant
economic advantages. People can then more effectively plan their decisions to invest,
save and consume. For example, if prices are stable on average, then the parties to an
employment contract can be more confident that after 12 or 24 months the costs and
benefits to both sides will be similar to when the agreement began. This kind of
predictability makes sound business decisions easier and encourages people to invest
in the economy.
On the other hand, inflation can damage growth in a number of ways. To begin with,
when inflation is high price signals within the economy, by which people decide what
to buy, sell, make and invest in, become confused. This makes economic decisions
harder. For example, look at graph 1 on the opposite page. This shows "nominal"
house prices and "real" house prices from 1968 to now. Nominal house prices are the
actual listed prices on the day - what houses buy and sell for. However, if there is
inflation then over time nominal prices can easily deceive.
10

Thus, if you buy a house for, say, $100,000 and then some years later sell it for
$130,000, you appear to have made $30,000. But if during that period there's been 30
per cent inflation then in reality you've made nothing at all. That's because the buying
power of your money has fallen by 30 per cent. To work out whether the purchase
really made money, you need to subtract inflation from the sale price, which gives
what's called the "real" return.
Graph 1 shows that throughout the high inflation 1970s and 1980s house prices
seemed to be going up, yet actually there were significant periods when real house
prices were falling, most notably from late 1975 to late 1980. Misperceptions of this
kind can easily lead to poor investment decisions.

2.2.7 Conclusions:

11

In the earlier sections we have discussed how two policies playing important role for
potential business development. Although the scopes of the discussions are limited but
we have presented the entire gist within scope.

2.3 Evaluate the impact of competition policy and other regulatory mechanisms
on the activities of a selected organisation

2.3.1 Introductions:
An organization, which could be a business organization or could be a charity
organization but appropriately use of competition policy and other regulatory
mechanism properly can make a good sign of development. In the following sections
we will discuss competition policy and other regulatory mechanism by turn.
References:
1) "A Kantian Conception of Equality." Cambridge Review (February 1975), 96
(2225): 94-99.

2.3.2 Discussions:
2.3.3 Competition Policy:
Competition policy covers the different ways in which the competition authorities of
national governments and also the European Union seek to make markets work better
and achieve a higher level of economic efficiency and economic welfare.

12

References:
1) 1) "A Kantian Conception of Equality." Cambridge Review (February 1975),
96 (2225): 50-66.

2.3.4 The Main Aims of Competition Policy

The aim of competition policy is promote competition; make markets work better and
contribute towards increased efficiency and competitiveness of the UK economy
within the European Union single market. Competition policy aims to ensure.

There are four pillars of competition policy in the UK and in the European Union:
Antitrust & cartels: This involves the elimination of agreements which seek to restrict
competition (e.g. price-fixing agreements, or cartels) and of abuses by firms who hold
a dominant position in a market.
Market liberalisation: Liberalisation involves introducing fresh competition in
previously monopolistic sectors e.g. energy supply, telecommunications, air transport
and postal services together with new arrangements for car retailers inside the single
market.
State aid control: Competition policy analyses examples of state aid measures by
Member State governments to ensure that such measures do not artificially distort
competition in the Single Market (e.g. the prohibition of a state grant designed to keep
a loss-making firm in business even though it has no prospect of long-term recovery).

Merger control: This involves the investigation of mergers and take-overs between
firms (e.g. a merger between two large groups which would result in their dominating
the market).

13

"Ronald Coase said he had gotten tired of anti-trust because when the prices went up
the judges said it was monopoly, when the prices went down they said it was
predatory pricing, and when they stayed the same they said it was tacit collusion."
References:
1)

The Idea of an Overlapping Consensus." Oxford Journal for Legal Studies

(Spring 1987), 7 (1): 1-25.

2)

"The Priority of Right and Ideas of the Good." Philosophy & Public Affairs
(Fall 1988), 17 (4): 251-276.

2.3.5 Other regulatory mechanisms:

Regulatory mechanisms are those that are systems of control in keeping the internal
environment relatively stable and maintained within narrow limits, despite external
environment change.
Mechanisms like this include the Negative Feedback system, in which change in a
variable is detected (e.g. increase) and action occurs to produce a change in the
opposite direction (e.g. decrease).
References:
1)

The Idea of an Overlapping Consensus." Oxford Journal for Legal Studies

(Spring 1987), 7 (1): 1-25.

2)

"The Priority of Right and Ideas of the Good." Philosophy & Public Affairs
(Fall 1988), 17 (4): 251-276.

2.3.6 Conclusions:

14

We have discussed in the earlier sections about how competition policy other
regulatory mechanisms help to raise activity of any organizations. We have tried to
present all main factors in the discussions and proven the impotency of competition
policy.

4.1 Discuss the significance of international trade to UK Business organisations

4.1.1 Introductions:
United Kingdom is the heaven for business organizations and most of those are
experience about international treads. In the following sections we will discuss the
significance of international tread to United Kingdom business organizations.
4.1.2 Discussions:
International Trade covers the trade between UK entities and those in the Rest of the
World. Trade in goods data are collected from survey and administrative systems.
Trade in services information is produced from quarterly and annual inquiries and
government administrative records.
References:
1) CHRISLIP David D., LARSON Carl E, 2007, Collaborative leadership:
how citizens and civic leaders can make a difference, P-110-145

4.1.3 European Union:

With the European elections less than three weeks away Liverpool Chamber of
Commerce is urging business leaders to consider the implications of EU legislation on
UK business and the UK economy.

15

Liverpool Chambers Head of Policy, Maresa Molloy stated: Business leaders need
to be aware of the following key changes to UK legislation implemented by the
European Parliament.
1) Agency Workers and the Working Time Directive
2) Pregnant Workers
3) Small Business Act. & 3a. European Company Statute
4) Regulatory Reform
5) Late Payment Directive
6) Services Directive.
7) EU Recovery Plan.
Due to the limitations we are not going to discuss all the topic mentioned in the earlier
sections but these are vital in order to get potential benefit from the business
organization's point of view.
References:
2) Luke, Jeffrey S (1989). Catalytic Leadership: Strategies for an
Interconnected World.. San Francisco : CA 94104. P20-50
3) Chaffee, Ellen Earle; Tierney, William G. (1988). Collegiate Culture and
Leadership Strategies. 3rd ed. New York: Macmillan Publishing Company,
866 Third Ave. P-115-125

4.1.4 : European Company Statute

As currently drafted, it provides a relatively cheap and simple way of setting up a
company that can operate in one or more member states. It would allow businesses to
follow the same company law provisions across all member states and aims to reduce
compliance costs arising from the disparities between the 27 national rules on the
creation and running of companies.

16

The proposal does not affect national employment law, tax law, accounting, or
insolvency law. Nor does it deal with the contractual rights and obligations of the SPE
or those of its shareholders other than the ones deriving from the articles of
association of the SPE.
The new company form would exist alongside the UK private limited company,
providing an alternative, not mandatory form.
References:
1) 4) Drew Harrisb, (1999). Charismatic leadership: Strategies for effecting
social change. New York: Volume 10, Issue 3. Pages 449482

4.1.5 Regulatory Reform

Administrative burdens: the Commission has launched a competition asking
businesses to nominate the most burdensome piece of legislation they have to comply
with. They are hoping that this will provide further candidates for burden reduction
Impact Assessments: Last years external evaluation of the Commissions impact
assessment system confirmed BCC research. There is much more to do to improve the
quality of impact assessments (for example, only 10% of all IAs carried out since
2003 quantified the cost of proposals to SMEs; while 70% provided no analysis of the
impact on SMEs at all).
This has resulted in the SME test for all new legislation that was recently agreed by
all member states as part of the Small Business Act.
References:
1) 3) Chaffee, Ellen Earle; Tierney, William G. (1988). Collegiate Culture and
Leadership Strategies. 3rd ed. New York: Macmillan Publishing Company,
866 Third Ave. P-115-125

4.1.6 Fair tread:

17

Fairtrade is about better prices, decent working conditions, local sustainability, and
fair terms of trade for farmers and workers in the developing world. By requiring
companies to pay sustainable prices (which must never fall lower than the market
price), Fairtrade addresses the injustices of conventional trade, which traditionally
discriminates against the poorest, weakest producers. It enables them to improve their
position and have more control over their lives.
References:
1) Cliffsnotes (2012) Organization Control Technique,
Available [Internet] http://www.cliffsnotes.com/study_guide/OrganizationalControl-Techniques.topicArticleId-8944,articleId-8928.html,
[Accessed on 12/06/2012]

4.1.7 Fair-trade Foundation:

The Fairtrade Foundation is a development organisation committed to tackling
poverty and injustice through trade, and the UK member of Fairtrade Labelling
Organisations International (FLO). The Foundation works with businesses, civil
society organisations and individuals to improve the position of producer
organisations in the South and to help them achieve sustainable improvements for
their members and their communities. Certification and product labelling (through the
FAIRTRADE Mark) are the primary tools for our development goals. The backing of
organisations of producers and consumers in a citizens movement for change is
fundamental and integral to our work.
References:
1) Wango (2007) , The Principle Responsibilities of an NGO Executive
Director , Available [Internet],

18

http://www.wango.org/NGONews/June08/NGOExecDirector.pdf ,[Access on
12/06/2012]

4.1.8 Conclusions:
We have discussed in the earlier sections about the significance of international trade
to UK Business organisations. We have covered most of the important factors for that
and in recent statistics it was proven that London remain the best place for
International business organizations.

4.2 Analyse the impact of global factors on UK business organisations

4.2.1 Introductions:
United Kingdom is a great business place for business organizations. There are huge
impacts of global factors in UK business organizations. In the following sections we
will discuss most of the important factors by turn in brief.
4.2.2 Discussions:
Businesses are affected by an external environment as much as they are affected by
the competitors. Global factors influencing business are legal, political, social,
19

technological and economic. Understanding of these factors is important while

developing a business strategy
References:
1) Reference For Business (2012) Capital Structure, Available [Internet],
http://www.referenceforbusiness.com/encyclopedia/Bre-Cap/CapitalStructure.html , [Access on 13/06/2012]

4.2.3 Social Factors:

These factors are related to changes in social structures. These factors provide insights
into behavior, tastes, and lifestyles patterns of a population. Buying patterns are
greatly influenced by the changes in the structure of the population, and in consumer
lifestyles. Age, gender, etc all determine the buying patterns and understanding of
such changes is critical for developing strategies which are in line with the market
situations. In a global environment it is important that business strategies are designed
keeping in mind the social and cultural differences that vary from country to country.
Consumer religion, language, lifestyle patterns are all important information for
successful business management.
References:
1) Professional Development from Cornell University (2007), , Available
[Intternet], http://www.ecornell.com/certificate-programs/leadership-andstrategic-management-training/change-leadership-certificate/crt/LSMC03 ,
[Access on 13/06/2012]
2) Developing A Team Vision Statement (2010), Available [Internet],
http://www.leadership-and-motivation-training.com/developing-a-team-visionstatement.html , [Access on 13/06/2012]

20

4.2.4 Legal factors

These factors that influence business strategies are related to changes in government
laws and regulations. For a successful business operation it is important that the
businesses consider the legal issues involved in a particular situation and should have
the capability to anticipate ways in which changes in laws will affect the way they
must behave. Laws keep changing over a period of time. From the point of view of
business it is important that they are aware of these changes in the areas of consumer
protection legislation, environmental legislation, health & safety and employment law.
References:
1) Hacking, Ian. The Social Construction of What? . Harvard University
Press, 1999; ISBN 0-674-00412-4, p. 6. Emphasis added.
2) Hacking, Ian. The Social Construction of What? . Harvard University
Press,
4.2.5 Economic factors
These factors involve changes in the global economy. A rise in living standards would
ultimately imply an increase in demand for products thereby, providing greater
opportunities for businesses to make profits. An economy witnesses fluctuations in
economic activities. This would imply that in case of a rise in economic activity the
demand of the product will increase and hence the price will increase. In case of
reduction in demand the prices will go down. Business strategies should be developed
keeping in mind these fluctuations. Other economic changes that affect business
include changes in the interest rate, wage rates, and the rate of inflation. Incase of low
interest rates and increase in demand Businesses will be encouraged to expand and
take risks. Therefore, business strategies should have room for such fluctuations.
References:
21

1) Botella, L. (1995). Personal construct psychology, constructivism and

postmodern thought. In R.A. Neimeyer & G.J. Neimeyer (Eds.), Advances
in personal construct psychology (Vol. 3, pp. 335). Greenwich, CT: JAI
Press.

4.2.6 Political factors

This refers to the changes in government and government policies. Political factors
greatly influence the operation of business. This has gained significant importance off
late. For example: companies operating in the European Union have to adopt
directives and regulations created by the EU. The political arena has a huge influence
upon the regulation of businesses, and the spending power of consumers and other
businesses. Business must consider the stability of the political environment,
governments policy on the economy.

4.2.7 Technological factors:

These factors greatly influence business strategies as they provide opportunities for
businesses to adopt new innovations, and inventions. This helps the business to reduce
costs and develop new products. With the advent of modern communication
technologies, technological factors have gained great impetus in the business arena. .
Huge volumes of information can be securely shared by means of databases thereby
enabling vast cost reductions, and improvements in service. Organizations need to
consider the latest relevant technological advancements for their business and to stay
competitive. Technology helps business to gain competitive advantage, and is a major
driver of globalization. While designing the business strategies firms must consider if
use of technology will allow the firm to manufacture products and services at a lower
cost. Firms can select new modes of distributions with the help of technology. It has
become easier for companies to communicate with their customer in any part of the
world.

22

References:
1) Kroon,J. (1995), "General Management" (2nd Edition), Pearson South
Africa, p. 76
2) Kroon, J. (1995), "General Management" (2nd Edition), Pearson South
Africa, p. 76
3) Jeffs, C. (2008), "Strategic Management", SAGE Publications Ltd., p. 29 et
seq

4.2.8 Conclusions:
We have discussed in the earlier sections all the important global factors those has
potential impact on UK business.

References:

23

1) Treneman, Ann (24 July 2007). "Puritanism comes too naturally for 'Huck'
Brown". London: Times Online.
http://www.timesonline.co.uk/tol/news/politics/article2127640.ece.
2) Major recessions: Britain and the world, 19201995, Christopher Dow, Oxford
University Press, 2000, p. 303
3) Prospect magazine supplement, The return of manufacturing in Britain. "The
credit crunch has exposed our overdependence on the financial sector", The
Return of Manufacturing, Michael Prest, UK Manufacturing Prospect magazine
2009, p. 4
4) How Margaret Thatcher made Britain great again, Andrew Roberts, The First
Post, 25 February 2009 How Margaret Thatcher made Britain great again, "She
changed British reliance on manufacturing industry just in time"
5) Barnes, Peter, Capitalism 3.0, A Guide to Reclaiming the Commons, San
Francisco 2006, Whatiseconomy.com
6) Dill, Alexander, Reclaiming the Hidden Assets, Towards a Global Freeware
Index, Global Freeware Research Paper 01-07, 2007, Whatiseconomy.com
7) Stiglitz, Joseph E., Global public goods and global finance: does global
governance ensure that the global public interest is served? In: Advancing Public
Goods, Jean-Philippe Touffut, (ed.), Paris 2006, pp. 149/164, GSB.columbia.edu
8) Where is the Wealth of Nations? Measuring Capital for the 21st Century. Wealth
of Nations Report 2006, Ian Johnson and Francois Bourguignon, World Bank,
Washington 2006, Whatiseconomy.com
9) Barnes, Peter, Capitalism 3.0, A Guide to Reclaiming the Commons, San
Francisco 2006, Whatiseconomy.com
10) Dill, Alexander, Reclaiming the Hidden Assets, Towards a Global Freeware
Index, Global Freeware Research Paper 01-07, 2007, Whatiseconomy.com
Fehr Ernst, Schmidt, Klaus M., The Economics Of Fairness, Reciprocity and Altruism
- experimental Evidence and new Theories, 2005, Discussion PAPER 2005-20,
Munich Economics, Whatiseconomy.com

24

Kantian Constructivism in Moral Theory." Journal of Philosophy (September

1980), 77 (9): 515-572.

"Justice as Fairness: Political not Metaphysical." Philosophy & Public Affairs

(Summer 1985), 14 (3): 223-251.

"The Idea of an Overlapping Consensus." Oxford Journal for Legal Studies

(Spring 1987), 7 (1): 1-25.

"A Kantian Conception of Equality." Cambridge Review (February 1975), 96

(2225): 94-99.

1) "A Kantian Conception of Equality." Cambridge Review (February 1975),

96 (2225): 50-66.

The Idea of an Overlapping Consensus." Oxford Journal for Legal Studies

(Spring 1987), 7 (1): 1-25.

"The Priority of Right and Ideas of the Good." Philosophy & Public Affairs
(Fall 1988), 17 (4): 251-276.

The Idea of an Overlapping Consensus." Oxford Journal for Legal Studies

(Spring 1987), 7 (1): 1-25.

"The Priority of Right and Ideas of the Good." Philosophy & Public Affairs
(Fall 1988), 17 (4): 251-276.

1) CHRISLIP David D., LARSON Carl E, 2007, Collaborative leadership:

how citizens and civic leaders can make a difference, P-110-145

2) Luke, Jeffrey S (1989). Catalytic Leadership: Strategies for an

Interconnected World.. San Francisco : CA 94104. P20-50

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