Open topic Essay Example | Topics and Well Written Essays - 1000 words

Open topic - Essay Example For Smith, the market will regulate itself through its â€Å"invisible hand† which the government and its regulatory power play no part. In his monumental work â€Å"An Inquiry into the Nature and Causes of the Wealth of Nations† or â€Å"Wealth of Nations† (1776), he argued that individuals pursuing their self-interest are actually good for the larger society. To paraphrase Smith, he contended that â€Å"by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an  invisible hand  to promote an end which was no part of his intention. Nor is it always the worse for the society that it was not part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. (1776, 364). This idea of Adam Smith’s individual’s pursuit of self-interest to be good for society in general became the driving force of classical capitalist economies. This was however contradicted by John Maynard Keynes. ... These two economists contradicted in a manner that Smith negated the role of government intervention in the economy by solely relying on the market’s â€Å"invisible hand† while Keynes believed that the economy will work at its optimum with the influence and intervention of the government. Analysis While these two economists made two contradicting explanation and suggestion on how economies should work, they are however both correct. For Smith, while it may sound as an oversimplified generalization that the economy is ruled by â€Å"market forces’ invisible hand†, this truth however cannot be denied. We just cannot break the law of market forces that rules the economy. Our own pursuit for our individual success has also been generally good for society for we can contribute more when we are individually productive. For Keynes, his economic precepts has never been truer today with governments intervening in the recent 2009 Financial Crisis to bail out compan ies to save jobs and the economy in general from depression. Contradictory ideas but both are true and only different on its implication on the market and the economy in general. Smith may have explained the harsh reality about the dynamics of the capitalist economy and accepted the fact if individual’s are left on their own, we will be always be driven by our selfish motive. According to Smith, self-interest is not necessarily evil as he contends that our pursuit for self-interest will actually make the economy work efficiently and will be good in the long run. Keynes however made an assertion that this is in fact â€Å"disastrous if we attempt to apply it to the facts of experience† and attempted to temper the selfish and disastrous

Living With Dementia in Nursing Home Dissertation

Living With Dementia in Nursing Home - Dissertation Example ENGDAHL (2013) explains dementia as a kind of illness that is caused by brain disorder. It is caused by failure of some parts of the brain to function properly. The actual cause of failure of the brain functioning is not yet established by the scientists. There is not specific cure of dementia, while its severity intensifies with age. Victims of dementia have problems with thinking and remembering things clearly. Communicating and day to day chores among the victims is also a problem. As elaborated by ELSEVIER (2015) in the book - Confusion and dementia, people living with dementia are also prone to depression, mood swings and cases of aggressiveness. Due to the aspect of forgetting, people suffering from dementia may easily get lost or forget direction, hence going wandering. Over the years, scientists have been studying on the actual cause of the disease, but all in vain. Lack of the appropriate cure of dementia has been a major challenge in the health sectors. However, nursing department has created hope to the issue. The home nursing department has come up with various ways that can be implemented to mitigate the effects of dementia to the victims. These can be summed as living well with dementia in nursing home (CLARKE 2011). The nursing department explains how these patients worsen with age, and the need for personal care and close monitoring of the victims to ensure that their lives are not endangered.