Leadership Assignment Example | Topics and Well Written Essays - 3750 words

Leadership - Assignment Example ii) Nature of Work to be adopted by the student The student must give equal values to profit and ethics in his working activities in future. He should try to get maximum returns from the work done but should never compromise on the social and moral values in business. In the course of his professional life, the student must try to stay at the highest position in his workplace. He must claim to serve his employer (if he works for someone) or customers (if he owns a business concern) with his best efforts. These goals can easily be achieved by the employees if he suffices the above mentioned vision criteria in future. It is assumed in the assignment that the student here desires to start up his business in future which would be entirely owned by him. This simply hammers on the fact that through entrepreneurship, a person can use his or her knowledge to create services or products for the benefit of the common people with their best efforts. By choosing to be an entrepreneur, a person c an have a better control over his future, a better understanding about the differences between value and work, the scale and scope of operations can be altered most efficiently by an entrepreneur in business. An entrepreneur has the best scope for innovation and improvement in work and also gets the best opportunities to learn and improve from the mistakes. It has been observed in the real world that many high-ranked corporate firms in the market had begun harbouring thoughts and inspirations of a single promoter in business. Like Anita Roddik, the lady who was the founder of the popular luxury cosmetics company ‘The Body Shop’. Such successful stories of famous business personalities carves ways to encourage the youth to take part in new entrepreneurship. The development of any economy is not possible without the successful contribution of creativity and invention. Thus it is highly rational on behalf of the student to start up his own business so that he can contribut e his learnt to the development of the society and economy in future. It is rather assumed that the student with the best or decent leadership skills should take up his own business as it is the best possible task that he can adopt (Lafer, 1999). iii) Personality traits In the theory of personality development, the Five Factor Model states that there are five types of personality traits. These are conscientiousness, openness, agreeableness, neuroticism and extraversion. The above vision, goal and the choice of work selected by the student clearly explains his personality traits. These are: Openness: as the individuals desires to set up his own business and explore the creative business skills in him independently. Extraversion: as the individual has the energy to reach the highest position in the business sector where he aims to reach. Agreeableness: as the individual realizes and gives much importance to moral and ethical values. He gives importance to social welfare. Conscientious ness: as the person tends to be self disciplined, he assures in his goal to work hard and efficiently in the course of his self owned business. The student asked his common friend Joe Parker to comment on the viability of the personal traits analyzed by the student. Joe Parker said that almost 75% of the analyses made by the student

Developmental Psychology Observation paper Essay

Developmental Psychology Observation paper - Essay Example By this time, there were about five of us outside watching her out-of-control behavior. My brother took her arms and tried to make Annalise laugh, and in turn she smacked him right in the face. Lisa, Annalise's mother, finally came out to help, but by this time Annalise was on a mission. She went after her mother, kicking her in the legs. As Lisa tried to pick her up, she pulled her mother's hair and wanted down. Annalise was so disturbed that she took off down the driveway, into the street, and laid down in the middle of the road. Although they eventually managed to get her back into the yard, her tantrum continued for at least fifteen minutes longer. By this time, my son had woken up crying because of the commotion going on outside, and I just wanted to go home. Luckily, the whole ride home went smoothly because Annalise fell back asleep. This episode left me asking myself many questions. Who are the parents here How often does this happen Does Annalise become angry often What woul d I do if this were my child Many theorists could place Annalise's behavior into their developmental stages. Freud would say that Annalise fits perfectly into the anal stage. During this stage, the biggest challenge faced by the child is potty training.

Impact of multimedia in learning English as a second language Literature review

Impact of multimedia in learning English as a second language - Literature review Example Meanwhile, learning happens as a process rather than an event. This means that for the acquisition of second language to take place, there are series of things that a person should do, as learning a second language will not happen overnight. Mayer (2003) used the cognitive theory to explain the processes that take place in the course of second language acquisition. It was noted that the more interaction a person has with the language being learnt, the better the chances of acquiring it more easily and quickly. Meanwhile, the interactions that a person has with language often differ in potency and impact. For example using the multimedia principle, Mayer (2003, p. 33) explained that ‘the human information processing system contains an auditory/verbal channel and a visual/pictorial channel’. By implication, a person gets an easier grip of a particular language being learnt if provisions are made for all of auditory, verbal, visual and pictorial channels. However, using multimedia such as audio and video easily provides all these channels at a go (Neal, 2006). Based on this, when designing a website for acquisition of English as a second language, it will be beneficial to include audio and video files that wil l provide multimedia learning platforms, rather than use only written and verbal means of acquisition. Neal, L. (2006). Predictions for 2006 — E-learning experts map the road ahead. Elearn Magazine [online]. Available at http://www.elearnmag.org/subpage.cfm?section=articles&article=31-1 [accessed 13 February

An evaluation of the impact of immigration on Social Cohesion in Essay

An evaluation of the impact of immigration on Social Cohesion in present day Britain - Essay Example Only 8 of the respondents representing 15.38% were dissatisfied with their financial situation while 28 (53.85%) were satisfied and another 4 (7.69%) were very satisfied. Fifteen (28.85%) of the respondent agreed that Britain provides adequate financial assistance to citizens while 16(30.77%) were neutral and 12 (23.17%) disagreed with 11 disagreeing and 1 strongly disagreeing. Nine of the respondents (17.31%) did not know. Nearly half (24 representing 46.15%) of the respondents thought that the number of immigrants in Britain were acceptable. Thirteen (25%) thought there were too many immigrants in Britain, 4 (7.15%) thought the number of immigrants in Britain were too low and 11 (21.15%) had no opinion or did not know. A majority of respondents thought that immigration was good for Britain (4 strongly agreeing [7.84%]; 18 agreeing [35.29%]) while 13 (25.49%) were neutral and 12 (23.53%) disagreed and 1 (1.96%) strongly disagreed. Three (5.88%) did not know. From the respondents’ perspective, immigration, social issues and education were the main issues effecting Britain today. However there were 13 items that the respondents were able to choose from and there were nearly evenly divided (See Figure 1 below). A majority of the respondents had neutral attitudes toward immigration (21 representing 44.46%) and 20 representing 44.44% had positive attitudes. Only 2 of the respondents (4.44%) and another 2 were negative or did not know. A majority of the respondents (2 [4.44%] strongly agreeing; 26 [57.785] agreeing) that the UK was land of economic opportunity). Seven (15.56%) were neutral, while 9 (20%) disagreed and 1 (2.22%) strongly disagreed. The results of the survey demonstrate that there is a significant shift on the public’s attitudes toward immigration. Previously, national polls had progressively demonstrated a negative attitude

How effective are the strategies to end poverty Research Paper

How effective are the strategies to end poverty - Research Paper Example Extreme poverty is characterized by having less than $1 a day income; these are those who are unceasingly hungry and do not have access to acceptable living conditions. This is often described as the type of â€Å"poverty that kills.† While moderate poverty is described as those living in $1 or $2 a day, fundamental needs are met but scarcely and through tremendous effort. And relative poverty is a family with an income that is below the average nationally but is not within the same level as those in the middle income range (Sachs, 2005). Poverty estimates published in 2008 showed that approximately 1.4 billion of the entire population which equates to 1 in 4 in developing worlds is living on an income that is not even $1.25 in a day for the year 2005. This is an improvement in comparison to 1981 wherein 1.9 billion or 1 in 2 families are living under the same circumstances. This set boundaries for poverty line is based on 2005’s mean for the about 10-20 poorest countries. And the adjusted estimate which is higher than those previously conceived for the almost one billion getting by for $1 a day based on prices in 1993. This is seen to be an improvement towards the goal of cutting the poverty in half on the base point of year 1990 by the year 2015. Yet, poverty is seen as more persistent than estimated particularly in parts of Africa and other major factor’s lack of data that greatly affects the issue (â€Å"Understanding Poverty†). There is no single thing that is attributed as the general cause of poverty. There are a number of reasons that contribute to the generalization of the reasons for poverty. One is the absence of education which eventually hinders children from being able to acquire jobs that would provide suitable living. Children are needed to help their families and therefore take any possible job to be able to provide food on their tables in a daily basis. Next is health, body decline limits the amount of work that can be

Pressure Ulcers in the Hospital Essay Example for Free

Pressure Ulcers in the Hospital Essay Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Pressure ulcers remain a common health problem throughout the health care system. It has been conservatively estimated that annually 1 million adults develop pressure ulcers due to faulty nursing or care management. The incidence rates vary greatly depending on the health care sector. However, pressure ulcer incidence rates for hospitals range from 0.4% to 38%, for skilled nursing facilities from 2.2% to 23.9%, and for home health agencies 0% to 17%. The development of pressure ulcers occurs when there is sufficient progressive or reoccurring pressure over time to case capillary destruction, which in the end results to tissue necrosis. The development of a pressure ulcer or failure to prevent such condition from progressing to a more severe stage can result in negative consequences for the health care system (Fitzpatrick and Wallace, p.482). Nursing research has remained at the force-front in building knowledge-based related to pressure ulcer prevention. Pressure ulcers have become a quality issue for all areas of health care. The incidence and severity of the condition are used as markers of quality of care by agencies and acute care hospitals. This emphasis on pressure ulcers across the spectrum of health-care settings highlights the importance of the condition for clinicians (Sussman and Jensen, 2007 p.337). Pressure ulcer management can be based on clinical practice guidelines, which can be a source of enhancement for care plan development. The existing guidelines are broad based and general and, as such, for a good basis for wound care when the goal is comfort as well as healing (Coyle and Ferrel, 2005 p. 320). Purpose of Research   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The purpose of the study is to illustrate the physiological relationship between wound healing and the occurrence of pressure ulcers in hospital work-settings in order to provide means to come-up with another research procedure. In this case, we have utilized various quality researches and validated supporting studies in order to illustrate probable connections. Critical analysis, comprehensive data integration, and interpretation of research outcomes are the founding methodologies applied in the course research. The value significance of this study provides awareness to the public especially in terms of what can these contributing factors impregnate to the condition occurrence. The relationship of wound healing and the occurrence of pressure ulcers are necessary knowledge contribution in the field of health care; since, this is one of the major quality indicators in the clinical setting. Problem and Rationale   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Pressure ulcers or decubitus ulcerations are the result of mechanical injury to the skin and underlying tissues. The primary forces involved are pressure and shear, which is the perpendicular force or load exerted on a specific area causing ischemia and hypotoxia of the tissues. High-pressure areas in the supine position are the occiput, sacrum, and heels. In the sitting position, the ischial tubersosities exert the highest pressure, and the trochanters are afflicted in the side-lying position (Beck 2005, p.205).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As the amount of soft tissue available compression decreases, the pressure gradient, consequently, increases, and vise versa. The occurrence of these pressure ulcers are greatly manifested on bony prominences where there is less tissue for compression and the pressure gradient within the vascular network is altered easily upon compression. The changes in the vascular network allow an increase in the interstitial fluid pressure, which exceeds the venous flow. This results in an additional increase in the pressure and impedes arteriolar circulation. The capillary vessels collapse and thrombosis occurs. Increased capillary arteriole pressure leads to fluid loss through the capillaries; hence, tissue edema, and subsequent autolysis results. Lymphatic flow is decreased as well, allowing further tissue edema that contributes to the occurrence of tissue necrosis (Sussman and Jensen, 2007 p.337).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Unfortunately, there is substantial evidence to show that many patients develop their sores in hospital. Versluyen (1995) demonstrated that 66% of patients admitted with fractures involving hip developed pressure ulcers in hospital. This particular medical condition occurs almost exclusively among the elderly and involves immobilization for at least 24 hours. Areas such as accident and emergency, X-ray department, and theatres are all implicated in the causation of pressure sores as trolleys in these areas have been shown to generate pressures (Walsh and Ford, 1999 p.71).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Pressure ulcers are serious and frequent occurrence among the elderly, especially those who are immobile and debilitated. There are estimated 1.5-3 million Americans affected. A pressure ulcer will develop in approximately 5% of patients admitted to acute care hospitals. Studies have shown that 60% of pressure ulcers develop in the hospital, 18% in the nursing home, and 18% at home. Pressure ulcers prolong the hospital stay, and the pre-operative mortality rate is increased to 27%. The prevalence of pressure ulcers in the long-term care setting is reported to be 15-25% at the time of admission (Moylan, 2003 p.55). Obstacles and Solutions The problem of pressure development is a natural consequence of faulty health care management, poor health care quality, and negligence. Such condition is now associated, especially those with prolonged pressures, with contractures and/or shearing forces that frequently occur during transfers. Without diligent behavior modification related to skin inspection, and unless intervention strategies are employed to abort the process of skin breakdown, there will always be an open invitation to local, systemic, and generalized infection caused by pressure ulcerations (Whiteneck, 1993 p.231).Various proposed treatments in enhancing wound healing of pressure ulcerations are expensive and to be considered rare; hence, the treatment means may still be unrealistic. In this case, another research to enhance pressure ulceration healing is through the use of therapeutic air mattresses. According to the research of Sinclair and the group (2004), the utilization of air mattresses can further enhance the conditions of wound healing among pressure ulceration incidents. The proposed argument of the research involves the effectiveness of traditional turning and positioning protocols, which is evidently predominant in the nursing setting, and the therapeutic air mattresses. The study has covered elderly patients not less that 75 more than 75 years of age and in a condition of long-care term facility. Upon the progression of the overall research process, the results obtained do suggest that therapeutic mattresses are effective in preventing and healing ulcers. However, considering surface characteristics between beds utilized are still on the process of determining. Therefore, the clinically accepted practice of bed turning and repositioning still needs to be adhered until further research proves such intervention absolutely effective or otherwise (Sinclair, 2004).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   However, further researches may be suggested especially in air mattresses’ effectiveness in providing healing enhancements as well as pressure ulcer prevention. Such procedure is more practical and publicly realistic than the other proposed treatment measures. Research in antimicrobial application for the benefit of pressure ulcers should be well researched again considering the number of subjects involved in the research. The implication of such methodologies in accordance to wound healing involves the utilization of bed mattresses as the most economic and nursing-care enhancing procedure for clinical setting. If such procedure is proven effective, nursing efforts of bed turning and repositioning shall be reduced significantly. If such procedure is proven effective, treatment measures on such condition can be enhanced in terms of cost-effectiveness and practicality. In general view, pressure ulcer occurrence in a particular clinical setting connotes decreased quality of care management; since, pressure ulcers are prevented acceptably through bed turning and repositioning; hence, such methods are essential. Prevention of pressure sores in the hospital is a complicated process involving the assessment of complicated factors and accordingly the recommendation of interventional strategies. The traditional idea that the nurse alone should be responsible for the prevention of pressure ulcers is therefore ineffective (Coyle and Ferrel, 2005 p. 320; Webster, 1991p.53). A team of nursing and medical staff responsible for this task can produce more effective outcomes in terms of preventing such pressure sore occurrences. Nevertheless, the nurse remains the most essential part of such a team and acts as the main source of information about patient condition (Webster, 1991p.53). Executive Summary and Conclusions The problem of the study is basically the occurrence of pressure ulcers among hospital setting, which on the irony, should not even occur due to the presence of clinical managers. The condition of pressure ulcer is basically caused by prolonged stationary immobility conditions of the patient, such as those with paralyzed conditions, unconscious, in coma, and basically immobile. With prolonged immobility, the parts of the body exposed to pressure, such as bony prominences (e.g. trochanters, hip area, scapular region, etc.) are the usual site for its occurrence. The etiological character of the pressure acts in two ways in order to induce the condition: (1) Obstruction of vascularization, which further impedes oxygenation of the area causing tissue necrosis, and (2) prevents healing process of the area. Pressure ulcerations have been a major health care problem as well as the indicators of adequate and proper delivery management of care. In such case, it is therefore necessary to maintain strict, adequate and the best possible appropriate intervention against the occurrence of pressure ulcerations. In the light or research developments progressing in the medical field, various wound enhancing treatments have been proposed in order to enhance the means of curing pressure ulcers. Hospital setting accounts as the highest place of occurrence of pressure ulcerations with percentage rates of 60% as of 2002 survey. The primary age group involved is the elderly individuals who are usually prone to immobilizing conditions, such as (CVA) Cerebrovascular Accident, cardiac problems, etc. With the impaired capacity of the patient to move, pressure accumulates in those sites afflicted; hence, inducing the condition of ulcerations or sore-formation. There are two basic rationales that cause the condition of pressure ulcers for the elderly: (1) aging conditions that impairs the skin integrity of the aged patients, which further predispose them from the conditions of pressure ulcers, and (2) degenerative conditions that cause their immobility. The obstacles of such condition occurrence involve the faulty care delivered by the health care managers (nurses and medical physicians). Hospital management is the prime essential intervener of the condition. In fact, clinical settings view that such condition depicts the status of health care system in the hospital. The justifications of such perspectives are based on the logic that nursing and medical interventions involved in this condition are the most basic procedure of health care field. The inadequacy of proving such care protocol is mainly the responsibility of the health care team. As with the standard protocol of bed turning and positioning, the patient obtains reduction of risks in terms of pressure ulcerations. However, nurses are not the only one involved in the care management of such condition but also the medical care team, although nurses are the primary managers of care delivery for this condition. With the advent of nursing research and enhanced interventions, air mattresses has been deemed to reduce the risks of bed sore formations. As the conducted study proposes, air mattresses reduces the pressure thus aiding in the partly oxygenation of the area exposed to pressure. Such action helps prevent and even slows down the progression of pressure ulcerations. However, due to the small population size of the research, further study has been advised. If the study is proven effective, this may provide decrease work load from the health care practitioners and also helps prevent or reduce the risk of progression of the condition. References Beck, J. C., Ferrell, B. (2005). Geriatrics Review Syllabus. Blackwell Publishing. Coyle, N., Ferrell, B. (2005). Textbook of Palliative Nursing. Oxford University Press Publishings. Fitzpatrick, J. J., Wallace, M. (2006). Encyclopedia of Nursing Research. Springer Publishing Publisher. Moylan, K. (2003). The Washington Manual Geriatrics Subspecialty Consult. Lippincott Williams Wilkins. Rai, G. S., Mulley, G. P. (2002). Elderly Medicine: A Training Guide. Informa Health Care. Sinclair etal, H. J. (2004, February). Do Therapeutic Mattresses Enhance the Healing of Pressure Ulcers in the Frail Elderly Population?. American Journal of Nursing, 62, 243-2451. Sussman, C., Jensen, B. (2007). Wound Care: A Collaborative Practice Manual. Lippincott Williams Wilkins. Walsh, M., Ford, P. (1999). Nursing Rituals, Research and Rational Actions. Elsevier Health Sciences. Webster, J. G. (1991). Prevention of Pressure Sores. CRC Press. Whiteneck, G. G. (1993). Aging With Spinal Cord Injury. Demos Medical Publishing.

The Debate on Austerity

The Debate on Austerity The adoption of austerity post the financial crisis in 2010 by the UK government is heavily debated. This essay evaluates the arguments for and against this fiscal contraction deliberating on the applied and possible fiscal policy measures and the limitations of monetary policy after the fiscal stimulus provided in 2008. When the housing bubble burst and Lehman Brothers collapsed in 2008, the subprime mortgage crisis magnified into a global financial crisis. Governments had to rush in and save banks. If not, the fall of public confidence in the banking system would have made the problem far more severe. Large fiscal stimulus packages were rolled out to cushion the blow. But for how long would a government be willing to take further debt for expansionary fiscal policy? They could have continued to increase public expenditure to compensate for the fall in private expenditure in accordance with the Keynesian theory. Or increase savings, let the wage rate drop and have the demand rise due to a price advantage in the long run (Hayek, 2006). By 2010, United Kingdom’s national debt reached 75.6% of its GDP (Eurostat). Had bond yields increased due to falling market confidence, the fiscal situation would have been worse off. It would imply that the risk associated with government bonds is higher and have negative implications about the government’s credibility, all raising the cost of public debt in the future. Thus, in the 2010 elections, the campaigns of both the Conservative and Labour parties suggested reducing the fiscal deficit. No one spoke in favour of further stimulus and austerity was adopted. The UK government feared a Greek-style meltdown. A country having borrowings in its own currency and a friendly central bank may not have to fear public debt as much. It could always keep a control on interest rates or postpone repayment by issuing new bonds. However, then governor of the Bank of England, Mervyn King, appeared to favour austerity. It remains uncertain if he would have sanctioned further quantitative easing. Typically, central banks reduce interest rates to stimulate the economy in such conditions. Lower interest rates promote consumption which would have decreased due to lower fiscal expenditure. The drop in interest rates from 5.5% in 2008 to 0.5% generated  £350 billion to inject into the economy (Giles, 2018). But with interest rates at an all-time low of 0.5% since 2009, there wasn’t much that could be done on the monetary policy front (Bank of England). The drop in interest rates from 5.5% in 2008 to 0.5% generated  £350 billion to inject into the economy. the Value Added Tax (VAT) was raised to 20% and public expenditure was cut to bring down the deficit (Finch, 2010:1). The combination of additional revenue and a lower deficit would cut down the need for further debt and help service the existing. Austere spending decisions lowered the welfare expenditure. The employment level decreased because of lower government expenditure. As a result, demand plunged and so did the gross domestic product. High uncertainty had lowered the public confidence. The GDP growth rate was insufficient to counter the shrinking in the economy caused by austerity. International Monetary Fund (2012) warned that the country might face permanent damage to its productive capacity if the same policies were continued. The government’s tax revenues took a hit owing to lower output. This resulted in a higher debt to GDP ratio as the budgetary deficit grew. As real wages of public sector workers and local council budgets fell, homelessness and reliance on food banks rose. Social care for the elderly was negatively impacted and help from Red Cross was called in to shoulder the increased pressure on the NHS (Gillett, 2017). Mark Blyth (2013) noted that there was disparity in the impact of austerity across different levels of society. He pointed out that the consequences were felt more severely by the larger share of public service users who didn’t have enough wealth to counter the cut in welfare spending.   In theory, falling deficit would result in lower taxes in the future. This should increase consumer confidence in the economy. However, critiques of austerity blame the government for the plummeting consumption levels. They believe the government should have continued with quantitative easing when the private spending shrank. Wage rates fall with falling public expenditure. This gives the economy a cost advantage as compared to its competitors in the global markets. To benefit from this, it is necessary that foreign demand for the domestically produces goods increases. But many Eurozone were implementing austerity themselves and thus, there was no substantial increase in foreign demand for British goods. Moreover, countries like China had induced a fiscal stimulus in their economies despite not having been impacted as greatly by the crisis. Hence, there was already enough supply in the market for any country to benefit from rising demand.   There was perhaps not once cause to the declining consumer spending in the UK. While UK’s own fiscal policy changed in 2010, the economic environment globally was also impacted by several countries introducing policy changes. The commodity prices changed and the Federal Reserve was keeping global rates low, all of which had some impact on the UK economy (Buttonwood, 2015). In spite of the falling consumption, there was a need to reduce government expenditure to reduce the deficit. Further fiscal stimulus, after what was introduced during the financial crisis, would have led to a sharp increase in government debt. Such a high debt level would make fiscal policy unsustainable and repayment challenging (Emmerson, Keynes and Tetlow, 2013). In terms of real total spending, the cut wasn’t as much from 2010 to 2015. Britain’s general total disbursements as a percentage of national income were the third highest amongst the G6 nations between 2007 to 2009 and remained so in 2013 (OECD, 2014). Annualised average real increase in spending on social security and health rose and real spending on working age and pensioner benefits grew between 2010 and 2013 (Keynes and Tetlow, 2014: 16-17). The economy’s recovery in 2013-2014 sparked another debate. Had austerity worked or was it the result of policy alteration in 2012? Klein (2015) asserted the growth was a result of a reversal from austerity. Smith (2015) refuted, stating that the government was still austere in spending decisions with the fiscal tightening being larger than 3% of GDP. Krugman (2015), however, maintained that abandoning further fiscal cuts after two years of austerity led to the economic growth. Whether the economy would have been in a better position without austerity will remain unknown. What can be concluded though is that austerity was not an economic necessity then. But with UK’s ageing population, welfare expenditure will only increase in the future. Such a welfare cap will become necessary for better policy decisions as the pressure on NHS and public services escalates. Continued quantitative easing in 2010 would have made public finances more unsustainable and fiscal austerity in future more drastic. Spending cuts or higher taxes, no matter when, will always be met with heavy criticism. Hence, a developed country with ageing population could aim at increasing sources of income, reducing income inequalities and reducing the dependence on welfare expenditure. Bibliography Bank of England [online] Available from: http://www.bankofengland.co.uk/boeapps/iadb/Repo.asp (Accessed 24 April 2018) Blyth, M. The Austerity Delusion. Foreign Affairs [online] Available from: https://www.foreignaffairs.com/articles/2013-04-03/austerity-delusion (Accessed 15 April 2018) Buttonwood (2015) What is austerity?. The Economist [online] Available from: https://www.economist.com/blogs/buttonwood/2015/05/fiscal-policy (Accessed 15 April 2018) Emmerson, C. & Keynes, S. & Tetlow, G. (2013) Public finances: outlook and risks. The IFS Green Budget: February 2013. London: Institute for Fiscal Studies. Available from: http://www.ifs.org.uk/budgets/gb2013/GB3013_Ch5.pdf Eurostat [online] Available from: http://ec.europa.eu/eurostat/tgm/table.do?tab=table&init=1&language=en&pcode=sdg_17_40&plugin=1 (Accessed 24 April 2018) Finch, J. (2010) Budget 2010: VAT rise to 20% ‘could cause double-dip recession’. The Guardian [online] Available from: https://www.theguardian.com/uk/2010/jun/22/vat-rise-recession-fears (Accessed 15 April 2018) Giles, C. (2018) Bank of England defends response to financial crisis after criticism. Financial Times [online] Available from: https://www.ft.com/content/4231c5a0-3caf-11e8-b9f9-de94fa33a81e (Accessed 24 April 2018). Gillett, F. (2017) NHS calls in Red Cross volunteers and staff amid humanitarian crisis. Evening Standard [online] Available from: https://www.standard.co.uk/news/uk/nhs-calls-in-red-cross-volunteers-and-staff-amid-humanitarian-crisis-a3434901.html (Accessed 15 April 2018) Hayek, F. A. (2006) The Paradox of Saving. [online] Available form: https://mises.org/library/paradox-saving (Accessed 15 April 2018) International Monetary Fund (2012) United Kingdom : Staff Report for the 2012 Article IV Consultation. [online] Available from: https://www.imf.org/en/Publications/CR/Issues/2016/12/31/United-Kingdom-Staff-Report-for-the-2012-Article-IV-Consultation-26083 (Accessed 15 April 2018) Keynes, S. & Tetlow, G. (2014) Survey of public spending in the UK. London: Institute for Fiscal Studies. Available from: https://www.ifs.org.uk/publications/1791 Klein, M. W. (2015) Eurozone Recovery and Lessons About Austerity. The Wall Street Journal [online] Available from: https://www.blogs.wsj.com/washwire/2015/05/16/eurozone-recovery-and-lessons-about-austerity/ (Accessed 15 April 2018) Krugman, P. (2015) The case for cuts was a lie. Why does Britain still believe it? The austerity delusion. The Guardian [online] Available from: https://www.theguardian.com/business/ng-interactive/2015/apr/29/the-austerity-delusion (Accessed 15 April 2018) The Organisation for Economic Co-operation (2014) Economic Outlook No 95 May 2014 OECD Annual Projections. [online] Available from: https://stats.oecd.org/Index.aspx?DataSetCode=EO95_INTERNET (Accessed on 24 April 2018) Smith, D. (2015) The Myth of Abandoned Austerity. [online] Available from: http://www.economicsuk.com/blog/002094.html (Accessed 15 April 2018)