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Good Governance Is of Utmost Importance to a Healthy and Functioning Economy

Essay by   •  September 11, 2015  •  Article Review  •  669 Words (3 Pages)  •  1,222 Views

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Good governance is of utmost importance to a healthy and functioning economy. Given the sovereignty of countries, imposing external influence on them is difficult. Internally, however, please tell us the order in which the following options might offer political impact on the rich vs poor divide.

Items ranked: 


Option 1

Eradication of unions


Option 2

Total abolition of corporate donations


Option 3

Stricter penalties for unethical behaviour


Option 4

Caps on Politian's sitting terms

Item

Average rank

Best rank

Worst rank

No. of times ranked #1

Option 1

3.5

1

4

1 (9%)

 

Option 2

2.3

1

4

3 (27%)

 

Option 3

1.5

1

3

7 (64%)

 

Option 4

2.8

2

4

0 (0%)

 

No. of "no opinion" answers:

 0

Total number of answers:

 11

Question # 1

Unethical behaviours within organisation are in practice for many years. Rank among the following options, considering which unethical behaviour must be highly regulated by the government:

  1. Wages and working condition
  2. Bending the rules (making decision always in employer benefit)
  3. Environment
  4. Small vendor relationship
  5. Union

Question # 2

Half of the world's major economies are multinationals; these businesses play a crucial role in poverty alleviation and building a sustainable economic system. Does low regulation on multinational companies can help different economies of the world to grow as they can be the source of income for unemployed poor population? Rate from 1 (highly regulated) to 10 (low regulated).

Question # 3

Depending extremely on corporate entities and imposing high regulation and taxes on them to help in serving large number of poor people will motivate entities to involve in unfair trading and to be financially unethical in their book of accounts?

Rate from 1 – 10

Question: There are six policy clusters that the Millennium project has identified that an improvement in could assist poverty stricken countries to break out of poverty traps. Please rank in order of what you perceive to be of highest importance to lowest importance in reducing poverty and the rich poor gap.

Items ranked: 


Investing in human development

Nutrition, health, education, water & sanitation.


Helping farmers increase productivity

To break out of subsistence farming and chronic hunger.


Investing in infrastructure

Power, roads, ports, communications.


Developing industrial development policies

Foster growth in small and medium businesses through tax incentives and encourage public spending on research and development.


Emphasising human rights and social equity

Ensure that all people have freedom and the voice to influence decisions that affect their lives


Environmental sustainability

Protect key ecosystems that support life - clean air and water, soil, forests etc

Item

Average rank

Best rank

Worst rank

No. of times ranked #1

Investing in human development

2

1

4

4 (36%)

 

Helping farmers increase productivity

3.2

1

5

1 (9%)

 

Investing in infrastructure

4.6

1

6

1 (9%)

 

Developing industrial development policies

5

4

6

0 (0%)

 

Emphasising human rights and social equity

3.3

1

6

2 (18%)

 

Environmental sustainability

2.9

1

6

3 (27%)

 

Large number of experts said that investing in human capital can breakout poverty traps.

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