Impact do business and economic decisions have on society Essay

Impact do business and economic decisions have on society - Essay Example One of the major impacts of the shift from a State based system to a market based economy has been the emergence of large scale unemployment. The Central and East European countries made the dramatic transition to market based systems in the 1990s. During the first phase of the transition in economy, they were able to achieve macroeconomic stabilization but there was also a decline in employment, but there was a rise in unemployment.(Ham et al, 1993). The State based systems absorbed unproductive labour, however with privatization and the drive for profits that characterizes a market based system, the result has been double digit figures of unemployment. Unemployment can be detrimental to a society’s welfare, since a long duration of unemployment not only produces higher levels of human suffering but may also impair the long term efficiency of the economy by reducing the capacity of those who are unemployed to ultimately reintegrate themselves back into gainful employment, thereby making them burdens upon the State.(Ham et al, 1993). Unemployment rates in the Czech Republic were lower than the rates for any of the Central and east European countries, while other Slovakia, Bulgaria, Hungary and Poland have experienced much higher rates. This may be the result of much larger inflows and smaller outflows in Slovakia, or alternatively, differential allocation of resources among various districts, each of which is a fairly closed labor market (Ham et al, 1993). However, the transition in economy often causes suffering to the people due to the difficulties in sustaining and guaranteeing employment within a competitive framework. Different economies may therefore respond differently to the shift from State controlled to a market based economy, however in general it tends to produce unemployment which can produce a detrimental impact if unemployment is prolonged and individuals are unable to adjust into the requirements of the new economy. The emergence of

Engineering accomplishments Essay Example | Topics and Well Written Essays - 1250 words

Engineering accomplishments - Essay Example When the seals are exposed to temperatures above 5000 0F, they are not able to withstand for an extended period. Therefore, there has a been the need to develop an engineering technology that would ensure that the temperatures emanating from the motor joints do not damage the O-rings. The development of the rocket motor joint with thermal barriers was a major 21st century breakthrough. It has ensured that the heat generated by the motor joints is contained. This paper places into perspective the development of the thermal barriers in the rocket motor joints and the benefits that the engineering technology has brought. High temperatures in rocket systems require a thermal barrier. An efficient thermal barrier is one that is composed of a carbon fiber, which forms the core while braided carbon fibers, forms part of the layers. The layers are usually found around the core. The protection of the components of the rocket that cannot bear high temperatures is very vital, for example the elastomeric O-rings seals both the primary and secondary ones requires to be protected against high temperatures(Patrick  et al 577). This made it possible to develop an innovation that will see efficiency in the rocket in order to make the work of space exploration easy and efficient. Additionally, the thermal barriers are required in any other machines, especially that require high efficiency and are used for extended periods. The development of the Rocket Motor Joint with thermal barrier was considered the NASA Government invention of the year in 2004 (National Aeronautics and Space Exploration 14). This is because of its capacity to withstand extremely high temperatures. The development was made in consideration of the current as well as future rocket motors, some of which have been under development. In addition, it is not limited to use in the motors since it can also be uses in other equipment such as industrial