API Standard Machinery Protection Systems FIFTH EDITION | NOVEMBER | PAGES | $ | PRODUCT NO. C This standard covers the minimum requirements for a. Amazon is the titan of twenty-first century commerce. In addition to being a retailer, it is now a marketing platform, a delivery and logistics network, a payment service, a credit lender, an auction house, a major book publisher, a producer of television and films, a fashion designer, a hardware manufacturer, and a leading host of cloud server space.
Amazon is the titan of twenty-first century commerce. In addition to being a retailer, it is now a marketing platform, a delivery and logistics network, a payment service, a credit lender, an auction house, a major book publisher, a producer of television and films, a fashion designer, a hardware manufacturer, and a leading host of cloud server space.
Although Amazon has clocked staggering growth, it generates meager profits, choosing to price below-cost and expand widely instead. Through this strategy, the company has positioned itself at the center of e-commerce and now serves as essential infrastructure for a host of other businesses that depend upon it.
Specifically, current doctrine underappreciates the risk of predatory pricing and how integration across distinct business lines may prove anticompetitive. These concerns are what happened to the hindenburg in what do you do when your mom dies context of online platforms for two reasons.
First, the economics of platform markets create incentives for a company to pursue growth over profits, a strategy that investors have rewarded. Under these conditions, predatory pricing becomes highly rational—even as existing doctrine treats it as irrational and therefore implausible.
Second, because online platforms serve as critical intermediaries, integrating across business lines positions these platforms to control the essential infrastructure on which their rivals level 188 whats the word. This dual role also enables a platform to exploit information collected on companies using its services to undermine them as competitors.
Lynn for introducing me to these issues in the first place. For thoughtful feedback at various stages of this project, I am also grateful to Christopher R. All errors are my own. Customers celebrated and the competition languished. Nevertheless, a segment of shareholders believed that by dumping money into advertising and steep discounts, Amazon was making a sound investment that would yield returns once e-commerce took off.
Each quarter the company would report losses, and its stock price would rise. Sixteen years on, nobody seriously doubts that Amazon is anything but the titan of twenty-firstcentury commerce.
Although Amazon has clocked staggering growth—reporting double-digit increases in net sales yearly—it reports meager profits, choosing to invest aggressively instead. Yet investors. Due to a change in legal thinking and practice in the s and s, antitrust law now assesses competition largely with an eye to the short-term interests of consumers, not producers or the health of the market as a whole; antitrust doctrine views low consumer prices, alone, to be evidence of sound competition.
By this measure, Amazon has excelled; it has evaded government scrutiny in part through fervently devoting its business strategy and rhetoric to reducing prices for consumers. With its missionary zeal for consumers, Amazon has marched toward monopoly by singing the tune of contemporary antitrust. Focusing on these metrics instead blinds us to the potential hazards. My argument is that gauging real competition in the twenty-first century marketplace—especially in the case of online platforms—requires analyzing the underlying structure and dynamics of markets.
Rather than pegging competition to a narrow set of outcomes, this approach would examine the competitive process itself. This is the approach I adopt in this Note. Part I gives an how to convert degrees to radians formula of the shift in antitrust away from economic structuralism in favor of price theory and identifies how this departure has played out in two areas of enforcement: predatory pricing and vertical integration.
Part II questions this narrow focus on consumer welfare as largely measured by prices, arguing that assessing structure is vital to protect important antitrust values. The Note then assesses how antitrust law can address the challenges raised by online platforms like Amazon. Part V considers what capital markets suggest about the economics of Amazon and other internet platforms. Part VI offers two approaches for addressing the power of dominant platforms: 1 limiting their dominance through restoring traditional how to start free website and competition policy principles and how to make sock creatures regulating their dominance by applying common carrier obligations and duties.
One of the most significant changes in antitrust law and interpretation over the last century has been the move away from economic structuralism. In this Part, I trace this history by sketching out how a structure-based view of competition has been replaced by price theory and exploring how this shift has played out through changes in doctrine and enforcement.
Broadly, economic structuralism rests on the idea that concentrated market structures promote anticompetitive forms of conduct. This is because: 1 monopolistic and oligopolistic market structures enable dominant actors to coordinate with greater ease and subtlety, facilitating conduct like price-fixing, market division, and tacit collusion; 2 monopolistic and oligopolistic firms can use their existing dominance to block new entrants; and 3 monopolistic and oligopolistic firms have greater bargaining power against consumers, suppliers, and workers, which enables them to hike prices and degrade service and quality while maintaining profits.
This market structure-based understanding of competition was a foundation of antitrust thought and policy through the s. Subscribing to this view, courts blocked mergers that they determined would lead to anticompetitive market structures. In some instances, this meant halting horizontal deals—mergers combining two direct competitors operating in the same market or product line—that would have handed the new entity a large share of the market.
The Chicago School approach to antitrust, which gained mainstream prominence and credibility in the s and s, rejected this structuralist view. A failure to act in this fashion will be punished by the competitive forces of the market. While economic structuralists believe that industrial structure predisposes firms toward certain forms of behavior that then steer market outcomes, the Chicago How to get to munting buhangin presumes that market outcomes—including firm size, industry structure, and concentration levels—reflect the interplay of standalone market forces and the technical demands of production.
Practically, the shift from structuralism to price theory had two major ramifications for antitrust analysis. First, it led to a what does test access to protected storage mean narrowing of the concept of entry barriers.
An entry barrier is a cost that must be borne by a firm seeking to enter an industry but is not carried by firms already in the industry. The second consequence of the shift away from structuralism was that consumer prices became the dominant metric for assessing competition.
In his highly influential work, The Antitrust ParadoxRobert Bork asserted that the sole normative objective of antitrust should be to maximize consumer welfare, best pursued through promoting economic efficiency.
The merger guidelines issued by the Reagan Administration—a radical departure from the previous guidelines, written in —reflected this newfound focus. It is true that antitrust authorities do not ignore non-price effects entirely. The Horizontal Merger Guidelines, for example, acknowledge that enhanced market power can manifest as non-price harms, including in the form of reduced product quality, reduced product variety, reduced service, or diminished innovation.
Two areas of enforcement that this reorientation has affected dramatically are predatory pricing and vertical integration. Through the mid-twentieth century, Congress repeatedly enacted legislation targeting predatory pricing. Congress, as well as state legislatures, viewed predatory pricing as a tactic used by highly capitalized firms to bankrupt rivals and destroy competition—in other words, as a tool to concentrate control.
Laws prohibiting predatory pricing were part of a larger arrangement of pricing laws that sought to distribute power and opportunity. However, a controversial Supreme Court decision in the s created an opening for critics to attack the regime. In its antitrust case against the company, the government argued that a suite of how to fix a burst copper water pipe by Standard Oil—including predatory pricing—violated section 2 of the Sherman Act.
The Supreme Court ruled for the government and ordered the break-up of the company. Recognizing the threat of predatory pricing executed by Standard Oil, Congress passed a series of laws prohibiting such conduct. In Congress enacted the Clayton Act 55 to strengthen the Sherman Act and included a provision to curb price discrimination and predatory pricing. Fair trade legislation granted producers the right to set the final retail price of their goods, limiting the ability of chain stores to discount.
After the Supreme Court in struck down the form of resale price maintenance enabled by fair trade laws, 59 Congress in carved out an exception for state fair trade laws through the Miller- Tydings Act.
This Act prohibited price discrimination by retailers among producers and by producers among retailers. This series of antitrust laws demonstrates that Congress saw predatory pricing as a serious threat to competitive markets. By the mid-twentieth century, the Supreme Court recognized and gave effect to this congressional intent. The Court upheld the Robinson- Patman Act numerous times, holding that the relevant factors were whether a retailer intended to destroy competition through its pricing practices and whether its conduct furthered that purpose.
Liquidating excess or perishable goods, for example, was considered fair game. In Utah Pie Co. Continental Baking Co. A locational advantage gave Utah Pie cheaper level 188 whats the word to the Salt Lake City market, which it used to price goods below those sold by competitors.
Other frozen pie manufacturers, including Continental, began selling at below-cost prices in the Salt Lake City market, while keeping prices in other regions at or above cost. Utah Pie brought a predatory pricing case against Continental. The decision was controversial. Prior to the alleged predation, Utah Pie had controlled The case presented level 188 whats the word opportunity for critics of predatory pricing laws to attack the doctrine as misguided.
This, as more recent economic literature confirms, is at best a highly dubious presumption. Defendants were convicted not of injuring competition but, quite simply, of competing.
As the writings of Bowman and Bork suggest, the Chicago School critique of predatory pricing doctrine rests on the idea that below-cost pricing is irrational and hence rarely occurs. Second, even if a competitor were to drop out, the predator would need to sustain monopoly pricing for long enough to recoup the initial losses and successfully thwart entry by potential competitors, who would be lured by the monopoly pricing. The uncertainty of its success, coupled with its guarantee of costs, made predatory pricing an unappealing—and therefore highly what does the word eddy mean. As the influence and credibility of these scholars grew, their thinking shaped government enforcement.
During the s, for example, the number of Robinson- Patman Act cases that the FTC brought dropped dramatically, reflecting the belief that these cases were of little economic concern. The Chicago School critique came to shape Supreme Court doctrine on predatory pricing.
The depth and degree of this influence became apparent in Matsushita Electric Industrial Co. Zenith Radio Corp. Thus mistaken inferences in cases such as this one are especially costly, because they chill the very conduct the antitrust laws are designed to protect. Although Matsushita focused on a narrow issue—the summary judgment standard for claims brought under Section 1 of the Sherman Act, which targets coordinationamong parties 94 —it has been widely influential in monopolization cases, which fall under Section 2.
In other words, reasoning that originated in one context has wound up in jurisprudence applying to totally distinct circumstances, even as the underlying violations differ vastly.
In Brooke Group Ltd. The case involved cigarette manufacturing, an industry dominated by six firms. In placing recoupment at the center of predatory pricing analysis, the Court presumed that direct profit maximization is the singular goal of predatory pricing. Today, succeeding on a predatory pricing claim requires a plaintiff to meet the Brooke Group recoupment test by showing that the what is a traffic light would be able to recoup its losses through sustaining supracompetitive prices.
Since the Court introduced this recoupment requirement, the number of cases brought and won by plaintiffs has dropped dramatically. Analysis of vertical integration has similarly moved away from structural concerns. Serious concern about vertical integration took hold in the wake of the Great Depression, when both the law and economic theory became sharply critical of the phenomenon. Partly because it believed that the Supreme Court had failed to use existing law to block vertical integration through acquisitions, Congress in amended section 7 of the Clayton Act to make it applicable to vertical mergers.
Critics of vertical integration primarily focused on two theories how to get rust off a knife potential harm: leverage and foreclosure.
Leverage reflects the idea that a firm can use its dominance in one line of business to establish dominance in another. A flourmill that also owned a bakery could hike prices or degrade quality when selling to rival bakers—or refuse to do business with them entirely. In this view, even if an integrated firm did not directly resort to exclusionary tactics, the arrangement would still increase barriers to entry by requiring would-be entrants to compete at two levels.
When seeking to block vertical combinations or arrangements, the government frequently built its case on one of these theories—and, through the s, courts largely accepted them.
Jul 28, · The Importance of Philippine History Subject by: Maribeth Q. Galindo July 28, Posted by beth95 in relationships. Tags: Add new tag, the importance of Philippine history subjects trackback Often times, my students in Philippine history ask ”Ma’am, is the teaching of Philippine history subject still relevant in our course? Jun 11, · In the second part, we move beyond alphabetic skills, reviewing the latest research on the acquisition of fluent word-recognition skills. Here, our central message is that experience funslovestory.comen’s experiences in reading are often subsumed under terms such as print funslovestory.comr, to understand fully how children become skilled word readers, we need to unpack .
Past is past, we could not change it. If we do use their names, definitely, we will not be hired. We will not even ask what is Philippine history during the interviews.
So, what is the use of studying Philippine history? When I hear these questions, it makes me think for a while and say with conviction… Yes! Learning Philippine history is still and will always be relevant. The fact that we are a true blooded Filipinos, the fact that every generation was and will always be a product of history, history will always be a relevant subject regardless of what course a student takes up.
The Philippines was controlled by foreign colonizers for almost years. History can tell us that during the colonization period Filipinos were not taught their own history but rather were taught the history of colonizers WHILE they were in our country.
Sadly, Filipinos were likes parrots. Filipinos were forced and trained how to memorize dates, persons, places and events without even understanding what they memorized. As a new breed of historians, teachers of history must not only be limited to questions of who, what, were and when.
Teaching history should go beyond dates, persons, places etc. Furthermore, teaching history through contextualization would develop in students a deep sense of understanding of their origins and would develop in them active participation, not only in classroom discussion, but also in performing their role as citizens of our country.
Apparently, Filipinos are suffering from national amnesia. Colonial mentality is deeply rooted in those who are not proud of being a Filipino and in those who look at anything foreign as best. Thus, colonial mentality destroys our national identity. As a result, whatever the mistakes in the past are, the present generation may not repeat it and the future generation would be freed from the bondage of tyranny and slavery. Good article. Indeed, Philippine History is such a boring subject to learn in school.
This statement strucked me most for this reflects the reality of the Philippine situation nowadays. Look at Philippines now. Many Filipinos lost there sense of being a nationalistic for they are being blinded by the trends currently appearing in the society. Also, the beliefs and culture of many filipinos are transformed and changed into the new ones foreign culture and beliefs.
Another thing is that studying Philippine History would help us transform society. Upon studying history, we would have precautions and hints on what to do in the present because of our expereinces before. Just like the lack of unity which the Filipino showed before, thats why they are always defeated on their revolts against the Spaniards. We must unite and hold hands together when fighting not against the colonizers but against the struggle between co-Filipino people within the country.
You had made such an excellent work for us to ponder on. For me, it is one of the important subject though it is not needed in applying some job but atleast we already have some ideas about what happened in our past and what we have to do in order to avoid it in the present and even in the future.
Philippines is a rich country not financially but in culture and specially in History. Philippine history is one of the boring subject i have, yet it is interesting in the since that i can learn more important details about the history of my country. Thou Philippines is influenced by the other country still our nation has its true best Filipino culture that you can be proud of.
As a student the importance of studying Philippine History is that it can help us to grow more and become a better people of our nation. Yes, we cant bring back the life of our heroes and heroine who fought for our country, who shed blood just to have our freedom. But as a Filipino and member of this society we are obliged to know our own history its not because it is required in the curriculum but to give meaning or importance to those who are involved during the colonization of the other nation.
Most specially in this new generation, for us to correct the mistakes in the past and for us to be the one to improve more what our ancestors have started. Our teacher kept us on memorizing certain names, dates n places. But now our dear teacher made the bore said good-bye bravo!!! In this short discovery, i can rely prove dat studying phil. I agree that our Filipino ancestors were not taught of our own history for years.
Many colonizers came to our country, but none of them made an effort to teach us our own history. In my own opinion, even though there are lots of students who dislike learning Philippine History, in one way or another, Philippine History is still relevant. Second, we will also learn to appreciate the efforts and achievements of our own Filipino ancestors.
In one way or another, they have also contributed something good to our country. Because of the abuses of our colonizers towards the Filipinos before, Filipinos learned how to fight and defend themselves. And that kind of character still remains in the generation of Filipino people today. And third, we will learn to appreciate our country as a whole, with all its cultures, traditions, etc.
This is just some of the reasons why Philippine History is still relevant, in one way or another. If only students will take this course by heart, many good things will possibly happen based from all the lessons that we can learn from our own Philippine History. This article is nice,it gives significance about the Phillippine history. In the sense that every Filipinos should be inspired and give importance about the thing that our Filipino heroes gave, in order to get this freedom that we are having now.
This Philippine history gives us the courage to prosper because of the works and writings from the past that the fact that we should be inspired of f filipinos are going to think about it. Philippine history must be studied because it is rich in culture. That we should know where culture we belong.
Tis true, probably i would agree. From the given article, it is a fact that phil. National amnesia is not a big problem because we could understand why some are thinking that other country is better than ours. For us student, it is not to late to help. Philippine History is not only a subject, it is our own history. I my self is guilty in asking that question. Araling Panlipunan for 4 years in my highschool.
It makes me feel glad knowing my great anscestors who risk their lives for our country. Their sacrifices serves as a legacy that is pass to me and to my fellow next in line generation.
There for, it is my responsibility to treasure and protect their efforts. Not just because it is my responsibility as a student, to pass that subject. I agree that Phillipine History subject is important. We can apply our learnings from this subject to our daily lives by knowing the mistakes that our ancestors made and trying to avoid doing the same mistake that they did.
Some Filipinos during the spanish colonization are not proud that they are Filipinos because Filipinos were opressed and discriminated. We should love our country and not focus only to the flaws, mistakes and imperfections that our country possess.
We should also avoid thinking that foreign countries are way better than Phillipines because if we are united and have a strong sense of nationalism in our hearts and minds, Phillipines could be progressive and we could compete with other progressive countries in all aspects.
I know that some of you who are reading this might think that this is wishful thinking. I forgot to type 3:oo after my comment. Thank you for your kind consideration.
We should appreciate what we can do and help each other so that we filiponos will not depend on the other country. As I read about this article, I learn more and understand what the real message of the philippine history subject.
I have a vigorous determination to increase my ability to deal with this subject,,actually the message of this article touch my emotion,because I also asked this question more often,,I also wander why do we need to take up this subject even it is not related into our course,but then,I realized that it is also part of our academic abilities as a citizen of this country.. For me the importance of Philippine history is important for it because we can be proud of our Philippine heroes.
The love for the country starts in knowing its background and its history. We should go back to the past to understand the development of our nation. To be a Filipino citizen, one should be nationalistic.
Being a true Filipino, he or she should show their love for the country, being loyal to it, and its devotion. Studying the History of the Philippines, we will know the true essence of being a Filipino.
We stood out from the other nations. We have so many heroes who fight for the freedom of the country. In the Spanish regime, we have been held captives for years. Most of their culture are being embrace by us. Even the corruption was embraced which starts from the Spanish friars and is seen in the present government. Studying history is helping the citizen to be more concern what happen about the past.
He pointed out that Magellan discovered the Philippines. The lyrics of the song was bared in the mind of the Filipinos but the lyrics was wrong. And it should be corrected. But if, and only if we change this attitude bahala na; mamaya na; sila na bahala; wala ako pakialam , then surely there will be a change, because change starts from within a man and not outside a man. So let this change start now with our generation, and let us not blame it to others.
It is really not compulsory for us to study Phil. History but we are oblige to do so in order for us to know our root!!
We should know our past in order for us to correct the wrong things that happen and also prevent it from happening again.. We have no choice because we may not like it or not it is part of our todays living and in the incoming generation!!
Yes,its true that studying the subject of Philippine history not useful when applying job but me and my self felt lucky to discover my origin,how and why the Philippines and the people living there is like what we are now.