Prentice Hall is a major educational publisher owned by Pearson PLC. Prentice Hall publishes print and digital content for the 6–12 and higher-education market, Prentice Hall distributes its technical titles through the Safari Books Online e-reference service. On October 13,1913, law professor Dr. Charles Gerstenberg and Ettinger took their mothers maiden names—Prentice and Hall—to name their new company. Prentice Hall was acquired by Gulf+Western in 1984, and became part of that companys publishing division Simon & Schuster, publication of trade books ended in 1991. Simon & Schusters educational division, including Prentice Hall, was sold to Pearson by G+W successor Viacom in 1998, Prentice Hall is the publisher of Magruders American Government as well as Biology by Ken Miller and Joe Levine. Their artificial intelligence series includes Artificial Intelligence, A Modern Approach by Stuart J. Russell and Peter Norvig and they published the well-known computer programming book The C Programming Language by Brian Kernighan and Dennis Ritchie and Operating Systems and Implementation by Andrew S.
Tanenbaum. A Prentice Hall subsidiary, Reston Publishing, was in the foreground of technical-book publishing when microcomputers were first becoming available. They followed with a collection of books that was generally by and for programmers, building a stalwart list of titles relied on by many in the first generation of microcomputers users
An oligopoly is a market form in which a market or industry is dominated by a small number of sellers. Oligopolies can result from forms of collusion which reduce competition. Oligopoly has its own market structure, with few sellers, each oligopolist is likely to be aware of the actions of the others. According to game theory, the decisions of one firm therefore influence and are influenced by decisions of other firms, strategic planning by oligopolists needs to take into account the likely responses of the other market participants. Oligopoly is a market form where a number of firms are in competition. As a quantitative description of oligopoly, the concentration ratio is often utilized. This measure expresses, as a percentage, the share of the four largest firms in any particular industry. Oligopolistic competition can give rise to both wide-ranging and diverse outcomes, in some situations, particular companies may employ restrictive trade practices in order to raise inflate prices and restrict production in much the same way that a monopoly does.
Whenever there is an agreement for such collusion, between companies that usually compete with one another, this practice is known as a cartel. A prime example of such a cartel is OPEC, which has an influence on the international price of oil. Firms often collude in an attempt to stabilize unstable markets, so as to reduce the risks inherent in these markets for investment, there are legal restrictions on such collusion in most countries. In other situations, competition between sellers in an oligopoly can be fierce, with low prices and high production. This could lead to an efficient outcome approaching perfect competition, the competition in an oligopoly can be greater when there are more firms in an industry than if, for example, the firms were only regionally based and did not compete directly with each other. Thus the welfare analysis of oligopolies is sensitive to the values used to define the markets structure. In particular, the level of dead weight loss is hard to measure, the study of product differentiation indicates that oligopolies might create excessive levels of differentiation in order to stifle competition.
Oligopoly theory makes use of game theory to model the behavior of oligopolies. In this model, the firms move sequentially, in this model, the firms simultaneously choose quantities. In this model, the firms simultaneously choose prices, profit maximization conditions An oligopoly maximizes profits
As the supply of electricity is a natural monopoly, this entails complex and costly systems of regulation to enforce a system of competition. These programmes were supported with the interest of increasing the interconnectedness of European energy markets, similar initiatives, to varying degrees, have been pursued in nations around the world, such as Argentina and the United States. It was implemented under the Thatcher years as part of a mass campaign of many of the industries nationalised by previous Labour governments in the preceding decades. The risks involved for both generators and distributors have led to vertical re-integration, the main benefit of liberalisation comes from the increased competition afforded to the market. These increases in efficiency have led to lower prices paid by consumers in nations, such as the United Kingdom, which have more heavily pursued deregulation. Furthermore, the greater interconnectedness of networks has allowed for markets to be able to respond to peak energy demand.
The privatisation of electricity favoured by liberal economists mirroring the British model have led to increased expenditure on advertising. The nature of the natural monopoly coming from electricity generation is an issue which has gone unaddressed, because of the monopolistic competition inherent to the energy market, there are significant issues with collusion by firms to raise prices. These issues have been compounded with growing geopolitical instability in Eastern Europe, electricity market European Union competition law GATS Privatisation
Vattenfall is a Swedish power company, wholly owned by the Swedish government. Beyond Sweden, the company generates power in Denmark, Germany, the Netherlands and the United Kingdom. In January 2016, Vattenfall announced that all its Swedish nuclear power plants, including the reactors, were operating at a loss due to low electricity prices. It warned that it may be forced to shut all the plants down. The companys name is Swedish for waterfall, and is an abbreviation of its original name, Vattenfall was founded in 1909 as a state-owned enterprise in Sweden. From its founding until the mid-1970s, Vattenfalls business was restricted to Sweden. Only in 1974 did the company begin to build nuclear reactors in Sweden, in 1992, Vattenfall was reformed as the limited liability company Vattenfall AB. In the years 1990 through 2009, Vattenfall expanded considerably, acquiring stakes in Hämeen Sähkö, HEW, the Polish heat production company EW, Elsam A/S, in 2002 Vattenfall AB and its acquisitions were incorporated as Vattenfall Europe AG, making it the third-largest electricity producer in Germany.
In summer 2013 Vattenfall announced a writedown off the value of its assets by 29.7 billion SEK, some analysts have perceived this strategic review as a precursor to a partial retreat from continental European activities with a shift of focus towards activities in the Scandinavian market. In each of the quarters of 2015 and 2016, Vattenfall filed impairments of SEK28 billion. Outside of Sweden, Vattenfall is known for forcing the Soviet government to reveal the Chernobyl disaster. The Kremlin had tried to cover up the accident for a day, in 2006, Vattenfall began production of the pilot carbon capture and storage plant at Schwarze Pumpe, Germany. In 2007, the Lillgrund Wind Farm off the southern coast of Sweden was commissioned, as of 2009, Vattenfall generates electricity from fossil fuels, nuclear power and other sources. The nuclear power stations of Brunsbüttel and Krümmel have been shut down permanently in response to an order in summer 2011 after the Fukushima Daiichi nuclear disaster.
Vattenfall operates biomass and other plants in Germany, the Netherlands. In 2014, Vattenfall had a turnover of €2.3 billion and a profit of €647 million. On 30 September 2016, Vattenfall completed the sale of its German lignite facilities to the Czech energy group EPH and its financial partner PPF Investments. In January 2016 Vattenfall announced that its Swedish nuclear power plants, including the reactors, were operating at a loss due to low electricity prices
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere. It is the undoing or repeal of governmental regulation of the economy, opposition to deregulation may usually involve apprehension regarding environmental pollution and environmental quality standards, financial uncertainty, and constraining monopolies. Regulatory reform is a parallel development alongside deregulation, Regulatory reform refers to organized and ongoing programs to review regulations with a view to minimizing and making them more cost effective. Cost–benefit analysis is used in such reviews. In addition, there have been regulatory innovations, usually suggested by economists, Deregulation can be distinguished from privatization, where privatization can be seen as taking state-owned service providers into the private sector. Argentina underwent heavy economic deregulation and had an exchange rate during the Menem administration. In Dec.2001, Paul Krugman compared Enron with Argentina, two months later, Herbert Inhaber claimed that Krugman confused correlation with causation, and neither collapse was due to excessive deregulation.
Having announced a range of deregulatory policies, Labor Prime Minister Bob Hawke announced the policy of Minimum Effective Regulation in 1986. This introduced now familiar requirements for regulatory impact statements, but compliance by governmental agencies took many years, the labour market under the Hawke/Keating Labor governments operated under an accord. John Howards Liberal Party of Australia in 1996 began deregulation of the labor market, however, it was reversed under the following Rudd Labor government. Natural gas is deregulated in most of the country, with the exception of some Atlantic provinces and some pockets like Vancouver Island, most of this deregulation happened in the mid-1980s. There is price comparison service operating in some of these jurisdictions, particularly Ontario, the other provinces are small markets and have not attracted suppliers. Customers have the choice of purchasing from a distribution company or a deregulated supplier. In most provinces the LDC is not allowed to offer a term contract, LDC prices are changed either monthly or quarterly.
The province of Ontario began deregulation of electricity supply in 2002, the government is still searching for a stable working regulatory framework. The current status is a partially regulated structure in which consumers have received a price for a portion of the publicly owned generation. The remainder of the price has been market price based and there are numerous competitive energy contract providers, Ontario is installing Smart Meters in all homes and small businesses and is changing the pricing structure to Time of Use pricing. All small volume consumers are to be shifted to the new structure by the end of 2012
Free trade is one of the most debated topics in economics of the 19th, 20th, and 21st century. Arguments over free trade can be divided into economic, the World Trade Organization was created to open up markets and promote international trade based on the Free Trade paradigm. The WTO creates and monitors agreements to reduce trade barriers, and arbitrates in disputes over foreign market access and its definition of Free Trade is trade on a level playing field, so that the unlimited exchange of goods between countries is not necessarily Free. Therefore, any import restriction makes the domestic society as a whole worse off than it would be with unlimited imports, the artificial handicap of a foreign subsidy seems much less just to local production than advantages deriving from geography, natural resources, or native skill. Electorates often prefer fairplay to Utilitarian considerations, if trade barriers are already low, the threat of a trade war of tit-for-tat tariff increases may reduce the temptation for either partner in bilateral trade to raise import barriers.
It would tend to decrease the power and revenue flowing to government bureaucrats. In the history of trade, two types of arguments have been advanced in favor of allowing purchases from abroad, and free trade in the broader sense. One set of arguments for free trade could be classified as moral arguments listed below, another set of arguments is essentially economic, that free trade will make society more prosperous. These are mostly technical arguments from the discipline of economics, starting especially with Smiths The Wealth of Nations, the 18th and 19th century intellectuals who backed free trade rarely did so under the rubric of increasing material wealth. In many cases this was given as the least important reason for free trade, they argued that international society would be improved by increased commerce. Some of these, and later, sociopolitical arguments are listed here, adam Smith thought that protectionism against free trade was a scam on the public on behalf of producers, carried out in the name of nationalism.
Even if overall economic interests had not been harmed by tariffs, classical economic analysis shows that free trade increases the global level of output because free trade permits specialization among countries. Specialization allows nations to devote their resources to the production of the particular goods. The benefits of specialization, coupled with economies of scale, increase the production possibility frontier. An increase in the production possibility frontier indicates that the absolute quantity of goods. Not only are the quantity of goods and services higher. Free trade policies are often associated with general laissez-faire economic politics and parties, voluntary exchange, by virtue of its voluntary nature, is assumed to be beneficial to the parties involved—why else would they engage in the exchange. Thus, the restriction of voluntary exchange restricts commerce and ultimately the accumulation of wealth in the absence of real-world externalities such as infant industry protection, here is the production possibilities frontier for a fictional country, Country A
The end of the unification process is officially referred to as German unity, celebrated on 3 October. Following German reunification, Berlin was once designated as the capital of united Germany. The East German regime started to falter in May 1989, when the removal of Hungarys border fence with Austria opened a hole in the Iron Curtain and it caused an exodus of thousands of East Germans fleeing to West Germany and Austria via Hungary. The united Germany is the continuation of the Federal Republic. For political and diplomatic reasons, West German politicians carefully avoided the term reunification during the run-up to what Germans frequently refer to as die Wende, after 1990, the term die Wende became more common. The term generally refers to the events led up to the actual reunification, in its usual context. When referring to the events surrounding unification, however, it carries the connotation of the time. However, anti-communist activists from Eastern Germany rejected the term Wende as it was introduced by SEDs Secretary General Egon Krenz, the capital city of Berlin was divided into four occupied sectors of control, under the Soviet Union, the United States, the United Kingdom and France.
Germans lived under such imposed divisions throughout the ensuing Cold War, into the 1980s, the Soviet Union experienced a period of economic and political stagnation, and they correspondingly decreased intervention in Eastern Bloc politics. In 1987, US President Ronald Reagan gave a speech at Brandenburg Gate challenging Soviet leader Mikhail Gorbachev to tear down this wall that had separated Berlin. The wall had stood as an icon for the political and economic division between East and West, a division that Churchill had referred to as the Iron Curtain. In early 1989, under a new era of Soviet policies of glasnost and taken to more progressive levels by Gorbachev. Further inspired by images of brave defiance, a wave of revolutions swept throughout the Eastern Bloc that year. In May 1989, Hungary removed their border fence and thousands of East Germans escaped to the West, events rapidly came to a head in early 1990. First, in March, the Party of Democratic Socialism—the former Socialist Unity Party of Germany—was heavily defeated in East Germanys first free elections.
A grand coalition was formed under Lothar de Maizière, leader of the East German wing of Kohls Christian Democratic Union, on a platform of speedy reunification, East Germanys economy and infrastructure underwent a swift and near-total collapse. While East Germany had long been reckoned as having the most robust economy in the Soviet bloc, the East German mark had been practically worthless outside East Germany for some time before the events of 1989–90 further magnified the problem. Discussions immediately began for a merger of the German economies
The European Union is a political and economic union of 28 member states that are located primarily in Europe. It has an area of 4,475,757 km2, the EU has developed an internal single market through a standardised system of laws that apply in all member states. Within the Schengen Area, passport controls have been abolished, a monetary union was established in 1999 and came into full force in 2002, and is composed of 19 EU member states which use the euro currency. The EU operates through a system of supranational and intergovernmental decision-making. The EU traces its origins from the European Coal and Steel Community, the community and its successors have grown in size by the accession of new member states and in power by the addition of policy areas to its remit. While no member state has left the EU or its antecedent organisations, the Maastricht Treaty established the European Union in 1993 and introduced European citizenship. The latest major amendment to the basis of the EU. The EU as a whole is the largest economy in the world, additionally,27 out of 28 EU countries have a very high Human Development Index, according to the United Nations Development Programme.
In 2012, the EU was awarded the Nobel Peace Prize, through the Common Foreign and Security Policy, the EU has developed a role in external relations and defence. The union maintains permanent diplomatic missions throughout the world and represents itself at the United Nations, the World Trade Organization, the G7, because of its global influence, the European Union has been described as an emerging superpower. After World War II, European integration was seen as an antidote to the nationalism which had devastated the continent. 1952 saw the creation of the European Coal and Steel Community, the supporters of the Community included Alcide De Gasperi, Jean Monnet, Robert Schuman, and Paul-Henri Spaak. These men and others are credited as the Founding fathers of the European Union. In 1957, France, Luxembourg, the Netherlands and West Germany signed the Treaty of Rome and they signed another pact creating the European Atomic Energy Community for co-operation in developing nuclear energy. Both treaties came into force in 1958, the EEC and Euratom were created separately from the ECSC, although they shared the same courts and the Common Assembly.
The EEC was headed by Walter Hallstein and Euratom was headed by Louis Armand, Euratom was to integrate sectors in nuclear energy while the EEC would develop a customs union among members. During the 1960s, tensions began to show, with France seeking to limit supranational power, Jean Rey presided over the first merged Commission. In 1973, the Communities enlarged to include Denmark, Norway had negotiated to join at the same time, but Norwegian voters rejected membership in a referendum