• Title/Summary/Keyword: the Purpose of writing

Search Result 749, Processing Time 0.029 seconds

A review of the contents about childhood health care in middle & high school textbooks (중·고등학교 교과서에 실린 소아 관련 정보의 조사)

  • Kim, Jung Hun;Park, Sung Won;Shin, Son Moon;Sung, In Kyung;Park, Mi Jung;Chung, Yoo Mi;Ha, Jeong Hun
    • Clinical and Experimental Pediatrics
    • /
    • v.50 no.4
    • /
    • pp.340-347
    • /
    • 2007
  • Purpose : The purpose of this study is to investigate the material in middle school and high school textbooks covering child care and children's health for medically inaccurate content and to make sure that the correct information is given to students. Methods : We have examined 47 kinds of textbooks on the subjects 'Home economics' and 'Technology and home economics' published in 2007 to find out how much importance is placed on children's health and childcare and to search for incorrect definitions, inaccurate facts or insufficient explanations. We have also analyzed the credentials of the writers of these textbooks. Results : Textbooks of middle school cover psychological and physical changes during adolescence and nutrition, and those of high school cover marriage and childcare. These materials covering health made up 27.5%, 11.7% of middle & high school texts. Age definitions of neonate and infant were incorrect. Inaccurate facts were mostly about fontanelles, primitive reflexes, breastfeeding and weaning. There also were wrong informations on the umbilical cord care and developmental milestones during infancy. The childhood immunization schedules and the growth curves were not up to date. Most of the authors major in home economics and the others were school teachers. There was no evidence of any review by a medical society or an expert. Conclusions : When writing about children's health and childcare in textbooks, a board-certified pediatrician or The Korean Pediatric Society should be consulted to provide accurate medical information to middle and high school students.

Community Dwellers' Perception of Past Life Recollection and Preparation for Death (서울시 일 지역 주민의 인생회고 및 죽음준비 인식)

  • Kang, Kyung-Ah;Lee, Kyung-Soon;Park, Gang-Won;Kim, Yong-Ho;Jang, Mi-Ja;Lee, Eun
    • Journal of Hospice and Palliative Care
    • /
    • v.14 no.2
    • /
    • pp.81-90
    • /
    • 2011
  • Purpose: This study is to understand how community members perceive past life recollection and preparation for death. Methods: Using a questionnaire, we surveyed 160 adult residents of one of the districts (gu) in Seoul, Korea. Descriptive statistics were used. Results: Participants chose their 30s and 40s as the most difficult time in their lives. The most painful experience was "an illness of a family member", followed by "trouble with a spouse", and "trouble with children". As for the most difficult social experience, "sense of loss in life" was ranked the highest. Personally, the happiest time was "accomplishment of a goal", while it was "happiness through children" in family relationship and "contribution to society through my career" in social life. As for the most regrettable experience, personally "having lived without purpose" was the highest, "not meeting my parents' expectation more" in family relationship; "not providing sufficient education" in relationship with children; "not having an occupation that I wanted" in work life, and "lack of social skills" in social life. More than 87% of the surveyed showed a positive attitude about the system of the do not resuscitate (DNS) order. For a situation where participants were supposed to have an incurable disease, "I want to be notified of the true condition" and "I want to write a will and advanced directives" ranked high, receiving more than 3.1 points out of 4. Conclusion: These results demonstrate the need for death education to provide people with an opportunity to accept their regrettable experiences in the past as part of their life. Also, this study suggests the importance of writing advanced directives for people to prepare for "death with dignity" how it can help their decision to be better respected.

The Contribution of Innovation Activity to the Output Growth of Emerging Economies: The Case of Kazakhstan

  • Smagulova, Sholpan;Mukasheva, Saltanat
    • Journal of Distribution Science
    • /
    • v.10 no.7
    • /
    • pp.33-41
    • /
    • 2012
  • The purpose of this study is to analyse the state of the energy industry and to determine the efficiency of its functioning on the basis of energy conservation principle and application of innovative technologies aimed at improving the ecological modernisation of agricultural sectors of Kazakhstan. The research methodology is based on an integrated approach of financial and economic evaluation of the effectiveness of the investment project, based on calculation of elasticity, total costs and profitability, as well as on comparative, graphical and system analysis. The current stage is characterised by widely spread restructuring processes of electric power industry in many countries through introduction of new technical installations of energy facilities and increased government regulation in order to enhance the competitive advantage of electricity market. Electric power industry features a considerable value of creating areas. For example, by providing scientific and technical progress, it crucially affects not only the development but also the territorial organisation of productive forces, first of all the industry. In modern life, more than 90% of electricity and heat is obtained by Kazakhstan's economy by consuming non-renewable energy resources: different types of coal, oil shale, oil, natural gas and peat. Therefore, it is significant to ensure energy security, as the country faces a rapid fall back to mono-gas structure of fuel and energy balance. However, energy resources in Kazakhstan are spread very unevenly. Its main supplies are concentrated in northern and central parts of the republic, and the majority of consumers of electrical power live in the southern and western areas of the country. However, energy plays an important role in the economy of industrial production and to a large extent determines the level of competitive advantage, which is a promising condition for implementation of energy-saving and environmentally friendly technologies. In these circumstances, issues of modernisation and reforms of this sector in Kazakhstan gain more and more importance, which can be seen in the example of economically sustainable solutions of a large local monopoly company, significant savings in capital investment and efficiency of implementation of an investment project. A major disadvantage of development of electricity distribution companies is the prevalence of very high moral and physical amortisation of equipment, reaching almost 70-80%, which significantly increases the operating costs. For example, while an investment of 12 billion tenge was planned in 2009 in this branch, in 2012 it is planned to invest more than 17 billion. Obviously, despite the absolute increase, the rate of investment is still quite low, as the total demand in this area is at least more than 250 billion tenge. In addition, industrial infrastructure, including the objects of Kazakhstan electric power industry, have a tangible adverse impact on the environment. Thus, since there is a large number of various power projects that are sources of electromagnetic radiation, the environment is deteriorated. Hence, there is a need to optimise the efficiency of the organisation and management of production activities of energy companies, to create and implement new technologies, to ensure safe production and provide solutions to various environmental aspects. These are key strategic factors to ensure success of the modern energy sector of Kazakhstan. The contribution of authors in developing the scope of this subject is explained by the fact that there was not enough research in the energy sector, especially in the view of ecological modernisation. This work differs from similar works in Kazakhstan in the way that the proposed method of investment project calculation takes into account the time factor, which compares the current and future value of profit from the implementation of innovative equipment that helps to bring it to actual practise. The feasibility of writing this article lies in the need of forming a public policy in the industrial sector, including optimising the structure of energy disbursing rate, which complies with the terms of future modernised development of the domestic energy sector.

  • PDF

[ ${\ulcorner}$ ]Standard Principles for the Designing of Prescriptions - The Theory for Monarch, Minister, Adjuvant and Dispatcher${\lrcorner}$ ("방제구성의 표준적 규격 - 군신좌사(君臣佐使)")

  • Kim Do-Hoy;Seo Bu-il;Kim Bo-Kyung;Kim Gyeong-Cheol;Shin Soon-Shik
    • Herbal Formula Science
    • /
    • v.11 no.2
    • /
    • pp.1-18
    • /
    • 2003
  • The Theory for Monarch, Minister, Adjuvant and Dispatcher (or the Theory of Principal, Assistant, Adjuvant and Guiding Korean Oriental Herbal Medicines) has served as a standard principle for newly developed prescription formulas as well as established ones. Despite its significance, however, this theory hasn't been thoroughly studied and covered in the academic journals of Korean Oriental Herbal Medicines (KOHM) yet. This paper inquires into the origin of the theory while presenting the definitions and functions of Principal, Assistant, Adjuvant, and Guiding KOHM. In the end, the recommended doses and number of the KOHM comprising each of Principal, Assistant, Adjuvant, and Guiding KOHM are suggested. The compatibility theory of Principal, Assistant, Adjuvant, and Guiding KOHM can be traced back to the Warring States Period during which it was recorded in the treatise of the various schools of thoughts and their exponents. The theory was firmly established as a full system in ${\ulcorner}Shinnong's\;Pharmacopoeia{\lrcorner}\;and\;{\ulcorner}Yellow\;Emperor's\;Cannon\;of\;Internal\;Medicine{\lrcorner}$. While ${\ulcorner}Shinnong's\;Pharmacopoeia{\lrcorner}$ focuses on the classification of the properties of KOHM, ${\ulcorner}Yellow\;Emperor's\;Cannon\;of\;Internal\;Medicine{\lrcorner}$ mainly deals with the principles for writing prescriptions. In this regard, it is ${\ulcorner}Yellow\;Emperor's\;Cannon\;of\;Internal\;Medicine{\lrcorner}$ that systemized the Theory of Principal, Assistant, Adjuvant, and Guiding KOHM in a real sense. Principal KOHM aims at the causes of diseases and treat main symptoms. The doses are greater than Assistant, Adjuvant and Guiding KOHM. With their comprehensive effects, Principal KOHM is a leading ingredient of any prescription formula. Assistant KOHM are similar to Principal KOHM in its natures and flavors. Although its natures, flavors as well as efficacies may slightly differ from those of Principal KOHM, Assistant KOHM strengthens the therapeutic effects, jointly working with Principal KOHM. They mainly treat accompanying diseases and symptoms. Adjuvant KOHM is divided into two types: facilitator and inhibitor. Facilitators with the similar properties to those of Principal and Assistant KOHM help strengthen the therapeutic effects. Since they usually treat accompanying symptoms or secondary accompanying symptoms (minor accompanying symptoms), there are two kinds of facilitators. (1) The first kind of facilitators assists Principal KOHM, targeting accompanying symptoms. (2) The second ones supporting Assistant KOHM are for accompanying or secondary accompanying symptoms (or minor accompanying symptoms). Inhibitors counteract and thereby complement Principal and Assistant KOHM. Some of them inhibit the side effects or toxicity of Principal KOHM for the sake of the safety of the whole prescription formula while the others generate induced interactions. Guiding KOHM can be used for two purposes: guiding and mediating. The Guiding KOHM for the former purpose leads the other KOHM in a prescription formula to the lesion. But, the Guiding KOHM for mediating coodinate and harmonize all the ingredients in a prescription formula. The number of KOHM for those Principal, Assistant, Adjuvant and Guiding KOHM and their doses are different, depending on the types of prescriptions: classical prescriptions, prescriptions after ${\ulcorner}$Treatise of Cold-Induced Diseases${\lrcorner}$ and prescriptions of Sasang Constitutions Medicines. In the case of the prescriptions after ${\ulcorner}$Treatise of Cold-Induced Diseases${\lrcorner}$, it is highly recommended to follow the view of ${\ulcorner}$Thesaurus of Korean Oriental Medicine Doctors in Chosun Dynasty${\lrcorner}$ for the number of KOHM to be used. For the doses, however, ${\ulcorner}$Elementary Course for Medicine${\lrcorner}$, is found to be more accurate. The most appropriate number of KOHM per prescription is 11-13. To be more specific, for one prescription formula, it is recommended to administer one kind of KOHM for Principal KOHM, 2-3 for Assistant KOHM, 3-4 for Adjuvant KOHM and 5 for Guiding KOHM. As for the proportion of the doses, when 10 units are to be administered for Principal KOHM in a formula, the doses for the other three should be 7-8 units for Assistant KOHM, 5-6 for Adjuvant KOHM and 3-4 for Guiding KOHM. The doses of the KOHM added to or taken out of the prescription correspond to those of Adjuvant and Guiding KOHM.

  • PDF

Chronopolitics in the Cinematic Representations of "Comfort Women" (일본군 '위안부'의 영화적 기억과 크로노폴리틱스)

  • Park, Hyun-Seon
    • Journal of Popular Narrative
    • /
    • v.26 no.1
    • /
    • pp.175-209
    • /
    • 2020
  • This paper examines how the cinematic representation of the Japanese military "comfort women" stimulates 'imagination' in the realm of everyday life and in the memory of the masses, creating a common awareness and affect. The history of the Japanese military "comfort women" was hidden for a long time, and it was not until the 1990s that it entered the field of public recognition. Such a transition can be attributed to the external and internal chronopolitics that made possible the testimony of the victims and the discourse of the "comfort women" issue. It shows the peculiar status of the comfort women history as 'politics of time'. In the same vein, the cinematic representations of the Japanese military "comfort women" can be found in similar chronopolitics. The 'comfort women' films have shown the dual time frame of the continuity and discontinuity of the 'silence'. In Korean film history, the chronotope of the reproduction of "comfort women" can be divided into four phases: 1) the fictional representations of "comfort women" before the 1990s 2) documentaries in the late 1990s as the work of testimony and history writing, 3) melodramatic transformation in the feature films in the 2000s, and 4) the diffusion of media and categories. The purpose of this article is to focus on the first phase and the third phase in which the issue of 'comfort women' is represented in the category of popular fiction films. While the "comfort women" representations before 1990 were strictly adhering to the framework of commercial movies and pursued the sexual exploitation of "comfort women" history, the recent films since the 2000s are experimenting with various attempts in the style of popular imagination. Especially, the emergence of 'comfort women' feature films in the 2000s, such as Spirit's Homecoming, I Can Speak, and Herstory, raise various questions as to whether we are "properly" aware of issues and how to remember and present the "cultural memory" of comfort women. Also, focusing on the cinematic representation strategies of the 2000s "comfort women", this article discusses the popular politics of melodrama, the representation of victims and violence, and the feature of 'comfort women' as meta-memory. As a melodramatic imagination and meta-memory for the historical trauma, the "comfort women" drama shows the historical, political, and aesthetic gateways to which the "comfort women" problem must pass. As we have seen in recent fiction films, the issue of "comfort women" goes beyond transnational relations between Korea and Japan; it demands a postcolonial task to dismantle the old colonial structure and explores a transnational project in which women's movements and human rights movements are linked internationally.

A Study on Korean-American Writer Hong-Eun($1880\~1951$) focusing on Mong-yu siga(Traditional Korean Poetry, gasa and sijo of strolling in the dream) (재미작가 홍언의 몽유가사$\cdot$시조에 나타난 작가의식)

  • Park Mi-Young
    • Sijohaknonchong
    • /
    • v.21
    • /
    • pp.77-110
    • /
    • 2004
  • This study is an exploration of a Korean-American writer, Hong-Eun's Mong-yu siga. Hong-Eun immigrated to the United States during the colonial rule of the Japanese government. He was a publisher of The New Korea Times, and contributed various literary works to it. The purpose of this study is to analyze his two Mong-yu sigas published in 1935 and 1947 and elucidate their meanings. Using dream as a primary motif, the intention of Mong-yu mode is to achieve desire which is impossible to reach in reality. While his staying in the United States, Hong-Eun could not return his home country for two reasons, that is, political and financial ones. To return Korea desperately, he wrote sigas by adopting Mong-yu mode. His first attempt was reflected as eight pieces of consecutive poetries titled This Mountain In My Dream, I am Home. This Mountain was published on the 25th of April, 1935 and In My Dream, I am Home was contributed from May the 9th of 1935 to July the fourth of the same year. These works were published in the The New Korea Times' poetry column under the pen name of Donghae-soboo , Representing gasa of the enlightenment era, this poetry depicts historical identity of Chosun dynasty, especially focusing on before and after the 1900s. As a result of it, the poetry sketches the ideology of the Middle Ages. His second attempt was A Country and Hometown written as a form of prelude on the 25th of September, 1947. In addition, A Country in My Dream was published as a form of six pieces of consecutive poetry from October the second to November the sixth of 1947. He chose sijo as a major form of poetry, and the image of the poetry seemed to be the continuation of his first attempt. Confronting the reality of the his own country which is divided, the writer expresses his antagonism toward America and Russia. Although he could eventually return his country later, he rationalized himself by saying that his it is not the ideal place to go. Mong-yu mode is a traditional poetic technique which the intellectuals of the Middle Age used to use as one pattern of allegory. In addition to this, in the period of the enlightenment of Korea, Mong-yu was used to avoid the Japanese censorship and experiment on the diverse ways of writing. In terms of literary history, the significance of Hong-Eun's creation of Mong-yu sigas is that Hong-Eun shares the same intention with Korean intellectuals of the enlightenment period.

  • PDF

Measuring the Economic Impact of Item Descriptions on Sales Performance (온라인 상품 판매 성과에 영향을 미치는 상품 소개글 효과 측정 기법)

  • Lee, Dongwon;Park, Sung-Hyuk;Moon, Songchun
    • Journal of Intelligence and Information Systems
    • /
    • v.18 no.4
    • /
    • pp.1-17
    • /
    • 2012
  • Personalized smart devices such as smartphones and smart pads are widely used. Unlike traditional feature phones, theses smart devices allow users to choose a variety of functions, which support not only daily experiences but also business operations. Actually, there exist a huge number of applications accessible by smart device users in online and mobile application markets. Users can choose apps that fit their own tastes and needs, which is impossible for conventional phone users. With the increase in app demand, the tastes and needs of app users are becoming more diverse. To meet these requirements, numerous apps with diverse functions are being released on the market, which leads to fierce competition. Unlike offline markets, online markets have a limitation in that purchasing decisions should be made without experiencing the items. Therefore, online customers rely more on item-related information that can be seen on the item page in which online markets commonly provide details about each item. Customers can feel confident about the quality of an item through the online information and decide whether to purchase it. The same is true of online app markets. To win the sales competition against other apps that perform similar functions, app developers need to focus on writing app descriptions to attract the attention of customers. If we can measure the effect of app descriptions on sales without regard to the app's price and quality, app descriptions that facilitate the sale of apps can be identified. This study intends to provide such a quantitative result for app developers who want to promote the sales of their apps. For this purpose, we collected app details including the descriptions written in Korean from one of the largest app markets in Korea, and then extracted keywords from the descriptions. Next, the impact of the keywords on sales performance was measured through our econometric model. Through this analysis, we were able to analyze the impact of each keyword itself, apart from that of the design or quality. The keywords, comprised of the attribute and evaluation of each app, are extracted by a morpheme analyzer. Our model with the keywords as its input variables was established to analyze their impact on sales performance. A regression analysis was conducted for each category in which apps are included. This analysis was required because we found the keywords, which are emphasized in app descriptions, different category-by-category. The analysis conducted not only for free apps but also for paid apps showed which keywords have more impact on sales performance for each type of app. In the analysis of paid apps in the education category, keywords such as 'search+easy' and 'words+abundant' showed higher effectiveness. In the same category, free apps whose keywords emphasize the quality of apps showed higher sales performance. One interesting fact is that keywords describing not only the app but also the need for the app have asignificant impact. Language learning apps, regardless of whether they are sold free or paid, showed higher sales performance by including the keywords 'foreign language study+important'. This result shows that motivation for the purchase affected sales. While item reviews are widely researched in online markets, item descriptions are not very actively studied. In the case of the mobile app markets, newly introduced apps may not have many item reviews because of the low quantity sold. In such cases, item descriptions can be regarded more important when customers make a decision about purchasing items. This study is the first trial to quantitatively analyze the relationship between an item description and its impact on sales performance. The results show that our research framework successfully provides a list of the most effective sales key terms with the estimates of their effectiveness. Although this study is performed for a specified type of item (i.e., mobile apps), our model can be applied to almost all of the items traded in online markets.

Dual Faces of Nationalism reflected in Contemporary Korean Art and Society (현대 한국미술과 민족주의란 두 개의 얼굴)

  • Choi, Tae-Man
    • The Journal of Art Theory & Practice
    • /
    • no.4
    • /
    • pp.145-180
    • /
    • 2006
  • In Korea, nation and nationalism are undeniable justice, absolute virtue and moreover system of desire. From the late Chosun Dynasty when the Korean Peninsula had to survive from the critical situation of being the arena of competition, and through the colonial period under Japanese imperialism, nationalism became stronger as a logic of survival. The policy of seclusion under closed and exclusive nationalism that didn't recognize the world situation well enough, eventually gave more pain to the nation. Nationalism in colonial Korea which was as reformed nationalism and on the other hand, as intransigent, resisting nationalism. Since the purpose of this writing is not for clarifying the argument raised on Korean nationalism, there is no use mentioning how it went with the change of time. But we have to focus on the fact that the word 'nation' which appeared under the influence of popular revolution and capitalism meaning 'a group of people', was translated and understood as a racial concept for strengthening the unity of 'single-race nation with five thousand years' history. First of all, there is nationalism used to fortify the system. 'The Charter of National Education' and 'The Pledge of Allegiance' were ornaments to intensify the ruling ideology and dictatorship to militarize entire South Korea for 'settling Korean democracy' professed nationalism. Also, another ruling ideology armed with 'self-reliance' put North Korea into the state of hypnosis called nationalism. Nationalism, claiming 'nation' outwardly, but in reality, being an illuminating, instructing ideology isolating each other was indeed a body with two faces. This made 'nation' in Korea mysterious and objective through work such as. The statue commemorating patriotic forefathers' and picture of national records' in South Korea art. Nationalism used to strengthening the system encountered the magical 'single-race' and made 'ghost' being an extreme exclusion to other nations. We can find pedigreed pureness not allowing any mixed breeds from the attitude accepting western art -via Japan or directly- and making it vague by using the word Korean and Asia. There's nationalism as a resistant ideology to solidify the system on the other side. It came out as a way of survival among the Great Power and grew with the task of national liberation to became as a powerful force facing against the dictatorship dominating South Korea after the liberation. This discussion of nationalism as a resistance ideology was active in 1980s. In 1980, democracy movement against the dictatorship of 5th Republic originated from military power which came out suppressing the democratic movement in Gwangju, spread out from the intellects and the students to the labors, farmers and the civilians. It is well known that the 'Nation-People(Minjoong)'s Art Movement could come out under this social condition. Our attitude toward nationalism is still dual in this opening part of 21st century. On one hand, they are opposing to the ultra-nationalism but are not able to separate it from nationalism, and on the other, they have much confusion using it. In fact, in a single-race nation like Korea, the situation of being nationalism and jus sanguinis together can cause dual nationalism. Though nationalism is included in the globalization order, it is evidence that it's effective in Korea where there are still modern fetters like division and separation. In particular, in the world where Japan makes East Asia Coalition but exposed in front of nationalism, and China not being free from Sinocentrism, and American nationalism taking the world order, and Russia fortifying nationalism suppressing the minority race after the dissolution of socialism, Korean nationalism is at the point to find an alternative plan superior to the ruling and resisting ideology.

  • PDF

The Present Status and Prospect of GIS Learning in Teaching Geography of High School (고등학교 지리학습에서 GIS 교육의 현황과 전망)

  • Hwang, Sang-Ill;Lee, Kum-Sam
    • Journal of the Korean association of regional geographers
    • /
    • v.2 no.2
    • /
    • pp.219-231
    • /
    • 1996
  • The aim here is to analyse the system of description of GIS in all of the high school textbooks passed with the official approval, to find the degree to which teachers understand about GIS, and to consider the present condition of GIS instruction. Most of the authors of textbooks generally underestimate importance of GIS, and there is difference among their awareness. In the system of description of GIS, there are only a few kinds of textbooks in which explanation of GIS is made coherently from the purpose of instruction aim through the chapter summary and to overall test in both of the Korean Geography and the World Geography. This trend is due to the degree of distribution of the GIS specialists in writing a textbook while the other texts books shows just a brief introduction of GIS concept. Although there is the limit for teachers to study how to teach GIS due to its very technological aspect as well as few previous training and teacher's guide. Thus it is evident that about a half of teachers who responded taught high school students without a knowledge on GIS, and a few of them even never referred to that concept. These facts may negatively affect the status of a geography in the society of information. For the solution of these issues, it is considered how to repair the description system and its contents. Besides, the variation among textbooks is reduced at the further revision of the 7th curriculum. And the printed matters of GIS are sufficiently provided for the teachers to use as their teaching aids. It is desirable that the GIS instruction models should be further developed for college education, and the programs for the on-the-job teachers training should be arranged. Besides, the previous training for the on-the-job teachers should be achieved more practically with enough time before the revision of curriculum.

  • PDF

The changes of economic though (The trial of supply-side economics) (경제사상의 변화 (공급측면 경제학의 시험))

  • 서홍석
    • Journal of Applied Tourism Food and Beverage Management and Research
    • /
    • v.8
    • /
    • pp.89-121
    • /
    • 1997
  • Many of the measures and policies advocated by supply-siders, such as lower taxation, less government intervention, more freedom from restrictive legislation and regulation, and the need for increased productivity can be found in writing the classical economist. Nor is supply-side economics a complete divorcement from Keynesian analysis. In both camps the objectives are the same-high level employment, stable prices and healthy economic growth, the means or suggestions for attaining the objectives, however, differ. Consequently, recommended economic policies and measures are different. keynesians rely primarily on the manipulation of effective demand to increase output and employment and to combat inflation. They assume ample resources to be available in order that supply will respond to demand. The supply-siders emphasize the need to increase savings, investment, productivity and output as a means of increasing income. Supply-siders assume that the increase in income will lead to an increase in effective demand. Keynesians suggest that savings, particularly those not invested, dampen economic activity. Supply-siders hold that savings, or at least an increase in after-tax income, stimulates work effort and provides funds for investment. Perhaps keynesians are guilty of assuming that most savings are not going to be invested, whereas supply-siders may erroneously assume that almost all savings will flow into investment and/ or stimulate work effort. In reality, a middle ground is possible. The supply-siders stress the need to increase supply, but Keynes did not preclude the possibility of increasing economic activity by working through the supply side. According to Keynes' aggregate demand-aggregate supply framework, a decrease in supply will increase output and employment. It must be remembered, however, that Keynes' aggregate supply is really a price. Lowering the price or cost of supply would there by result in higher profit and/ or higher output. This coincides with the viewpoint of supply-siders who want to lower the cost of production via various means for the purpose of increasing supply. Then, too, some of the means, such as tax cuts, tax credits and accelerated depreciation, recommended by suply-siders to increase productivity and output would be favored by Keynesians also as a means of increasing investment, curbing costs, and increasing effective demand. In fact, these very measures were used in the early 1960s in the United State during the years when nagging unemployment was plaguing the economy. Keynesians disagree with the supply-siders' proposals to reduce transfer payments and slow down the process of income redistribution, except in full employment inflationary periods. Keynesians likewise disagree with tax measures that favored business as opposed to individuals and the notion of shifting the base of personal taxation away from income and toward spending. A frequent criticism levied at supply-side economics is that it lacks adequate models and thus far has not been quantified to any great extent. But, it should be remembered that Keynesian economics originally was lacking in models and based on a number of unproved assumptions, such as, the stability of the consumption function with its declining marginal propensity to consume. Just as the economic catastrophe of the great depression of the 1930s paved the way for the application of Keynesian or demand-side policies, perhaps the frustrating and restless conditions of the 1970s and 1980s is an open invitation for the application of supply-side policies. If so, the 1980s and 1990s may prove to be the testing era for the supply-side theories. By the end of 1990s we should have better supply-side models and know much more about the effectiveness of supply-side policies. By that time, also, supply-side thinking may be more crystallized and we will learn whether it is something temporary that will fade away, be widely accepted as the new economics replacing Keynesian demand analysis, or something to be continued but melded or fused with demand management.

  • PDF