...The Review of Economic Studies Ltd. Alternative Theories of Distribution Author(s): Nicholas Kaldor Source: The Review of Economic Studies, Vol. 23, No. 2 (1955 - 1956), pp. 83-100 Published by: The Review of Economic Studies Ltd. Stable URL: http://www.jstor.org/stable/2296292 Accessed: 22/03/2010 10:03 Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=resl. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. The Review of Economic Studies Ltd. is collaborating with JSTOR to digitize, preserve...
Words: 9493 - Pages: 38
...Lecture 4: The Rise of the Manorial System Western Europe after the Fall of Rome A. By the 4th Century, the crushing tax burdens had forced small farmers to cede their land to local tax-exempt lords and seek their protection, setting up the foundations of feudalism. 1. Review of conditions at end of Roman Empire. a. Taxes were imposed on the peasantry, but landed elite were tax exempt. b. When state revenues declined, the state went out and forcibly collected more taxes from the peasants. c. Peasants responded by fleeing land and seeking protection of tax-exempt lords (early manors). d. As peasants fled land, led to localized labor shortages and reduction in tax base. Population in towns and cities declined due to lack of provisions. 2. Futile Economic Reform Efforts a. Diocletian (284-305) * Established regular contributions to the state rather than uncertain obligations. * fixed wages and prices. b. Constantine (306-337) * Bound peasants to land. * Made offices (occupations) hereditary. c. Theodosian Code (Theodosius I, 379-395) sought to lock men into their places and organize population into hereditary classes. Reforms offered only temporary stability could not stop process of decline. Led to very different economic/social structure than that of classical world: Great estates (latifundia) became self-sufficient, self-contained economies. B. The constant invasions...
Words: 1381 - Pages: 6
...Global Antitrust Review 2014 163 The Assessment of Selective Distribution Systems Post-Pierre Fabre CRISTIANA DE FAVERI This article develops an analysis of selective distribution systems, which considers their main characteristics, the traditional principles governing their discipline and the recent evolution of the jurisprudence of the European Courts. In the Pierre Fabre case, the Court seems to have changed its approach to the subject, as, analysing a ‘de facto’ ban on online sales, it passed from the traditional ‘effects’ analysis of these systems to their qualification as restrictions ‘by object unless objectively justified’. The legal result is unaltered as the usual criteria of competition analysis are still adopted, but new perspectives could have been potentially opened in their interpretation. Furthermore, the article also takes into account the Court’s assertion that ‘the aim of maintaining a prestigious image is not a legitimate aim for restricting competition’, which represents another aspect of the judgment in apparent contrast with the settled case law. In both instances, it presents possible explanations consistent with the tradition. Finally, it underlines the significance of the ruling in relation to the controversial topic of internet selling. I. Introduction The topic of selective distribution systems has been explored in many authoritative academic works.1 Yet, it is still important and highly debated, not only because 1 ...
Words: 15217 - Pages: 61
...mass index (BMI) can prevent someone for developing diabetes, and the testing can monitor diabetes if a person develops it. Diabetes can also be treated by the use of insulin and dieting if monitored correctly. The limitation of genetic science for individuals is the emotional outcome of the test results. Some people may get upset and begin to feel guilty, depressed, or even become anxious once they receive their results (Cho, et al., 2012). The benefits of genetic science for families are that testing can help families make decisions regarding having a child. Screening of infants can determine whether or not the child has a disorder so that early treatment can take place. For example, if a family has a risk of Cystic Fibrosis (CF), carrier screening can be administered during pregnancy to determine the probability of the baby carrying the gene. If the baby...
Words: 1426 - Pages: 6
... KNOWING HOW TO PLAN IN THE WORKPLACE – Pages 6-16 ALLOCATING WORK TO MY TEAM MEMBERS – Pages 17- 21 UNDERSTANDING HOW TO IMPROVE THE PERFORMANCE OF A TEAM IN DELIVERING A PLAN – Pages 22-24 UNDERSTANDING HOW TO ORGANISE PEOPLE TO ACHIEVE AN OBJECTIVE- Pages 24-27 UNDERSTANDING HOW TO DELEGATE TO ACHIEVE WORKPLACE OBJECTIVES- Pages 28-32 GLOSSARY LFRS – Lancashire fire and Rescue service HFSC – Home fire safety check ADFs – Accidental dwelling fireS DSFs – Deliberate Secondary fires EVAs – Environmental Visual Audit CORVU - LFRS information system MOASIC – LFRS information system SOA – Targeted area (super output area) Sm – Station Manager Wm – Watch Manager Cm – Crew Manager CFS – Community Fire Safety KPIs – Key performance indicators IRS – Incident Recording System E71 – Blackburn Fire Station E70 – Accrington Fire Station E76 – Darwen Fire Station MFS – Mobile Fire Station E71P2 – Blackburn Fire appliance E71P1 – Blackburn Fire appliance INTRANET – LFRS Internet REDKITE – Training programme system BA – Breathing apparatus RTC – Road traffic collision BACKGROUND The name of the organisation I work for is Lancashire Fire and Rescue Service. LFRS has a number of aims which are split into our objectives, our priorities and our values. Our Objectives – Our specific measureable goals. To identify the key priorities for 2013 – 2017 by asking ‘What should LFRS focus resources on over...
Words: 11147 - Pages: 45
...Sl No | Particulars | Pages | 1 | Introduction | 2-3 | 2 | Macro-Economic Analysis | 4-7 | 3 | Factors affecting Israel and their solution | 8-10 | 4 | Bibliography | 11 | Sl No | Particulars | Pages | 1 | Introduction | 2-3 | 2 | Macro-Economic Analysis | 4-7 | 3 | Factors affecting Israel and their solution | 8-10 | 4 | Bibliography | 11 | TABLE OF CONTENTS TABLE OF CONTENTS Submission by – Group 5 Yashwant Kasturi – 49B Srinivas Gadepalli – 42B Shasank S Jalan – 37B Saurabh Malik – 34B Saurabh Kumar – 35B Submission by – Group 5 Yashwant Kasturi – 49B Srinivas Gadepalli – 42B Shasank S Jalan – 37B Saurabh Malik – 34B Saurabh Kumar – 35B Macro-Economic review of Israel Macro-Economic review of Israel Economic Backdrop In the last decade, Israel has secured * Strong growth—averaging 3.8 percent * Inflation in the 1–3 percent range * Public debt falling below 80 percent of GDP * Budget deficits declining into the 1–3 percent range * Freely floating and competitive Shekel (Israeli Currency) The economy was open and flexible—reflected in * Exports of around 40 percent of GDP * Stable Property markets (capped by earlier supply overhangs) * Highly activist and effective Financial—and especially banking—supervisory structures The Israeli economy is a diverse open market economy. Being a relatively young state in the modern era, Israel is recognized as a developed market by many major indices...
Words: 4362 - Pages: 18
...for viewing this important chapter not only from an exegetical standpoint but more contextually from its ancient Near Eastern cultural matrix in order to gain some perspective and understanding as to the meaning of this familiar text. Genre of Exodus 20ff Over 50 years ago, George Mendenhall, wrote a series of articles centered on newly discovered documents from ancient Mesopotamia upon which he developed a six point formula from the examination of these fourteenth and thirteenth century Hittite treaties that shaped the way many later scholars came to understand the Biblical text in light of these ancient Hittite suzerainty-vassal covenants. Irvin A. Busenitz in his article Introduction to the Biblical Covenants wrote: The rise of the Documentary Hypothesis, fueled by the concept that religion in Israel developed along evolutionary lines, has in recent centuries suggested that the whole idea of covenants in Israel was a very late development. Following Julius Wellhausen’s anti-supernatural system, many modern scholars postulate that the covenant concept was foreign to Israelite society and religion until the late seventh century B.C. More recent contributions to covenant discussions, however, indicate an early origin of the covenant idea in Israel. In...
Words: 3609 - Pages: 15
...Table of Contents Table of Contents Table of Illustrations ........................................................................................................ II List of Abbreviatons ........................................................................................................ III 1 Strategic Management Tools & Processes ............................................................... 1 1.1 Introduction ................................................................................................... 1 1.2 Question 1 ..................................................................................................... 2 1.3 Question 2 ..................................................................................................... 8 1.4 Conclusion .................................................................................................. 11 2 Innovation Management .......................................................................................... 12 2.1 Introduction ................................................................................................. 12 2.2 Question 1 ................................................................................................... 13 2.3 Question 2 ................................................................................................... 15 2.4 Question 3 ..................
Words: 12355 - Pages: 50
...writing this thesis would have otherwise been like swimming through mud. To my supervisor, Professor Andreas van Wyk, thank you for your leadership, patience, and academic skill in guiding me through the research process. To Adéle Mulder and Charl Marais, thank you for your continuous insight and perspectives, both academic and otherwise. And finally to Hilda and Gerrie Steyn, who have been absolutely crucial throughout all my years of study, thank you for your indispensable support, in all its forms. iv SUMMARY The worldwide increase of corporate failures on the scale of Enron and WorldCom has sparked a renewed international trend of corporate governance review. With the external company auditor blamed at least in part for many corporate failures, corporate governance reform also necessitates a review of the statutory regulation of the company auditor. In particular, the lack of auditor independence when auditing clients has been under the legislator’s spotlight. The problems associated with unregulated or poorly regulated auditors are well...
Words: 50477 - Pages: 202
...Socialism and Capitalism A Theory of Economics, Politics, and Ethics Hans-Hermann Hoppe The Ludwig von Mises Institute’s Studies in Austrian Economics Department of Economics University of Nevada, Las Vegas Kluwer Academic Publishers Boston/Dordrecht/London Distributors for North America: Kluwer Academic Publishers 101 Philip Drive Assinippi Park Norwell, Massachusetts 02061 USA Distributors for the UK and Ireland: Kluwer Academic Publishers Falcon House, Queen Square Lancaster LA1 1RN, UNITED KINGDOM Distributors for all other countries: Kluwer Academic Publishers Group Distribution Centre Post Office Box 322 3300 AH Dordrecht, THE NETHERLANDS Library of Congress Cataloging-in-Publication Data Hoppe, Hans-Hermann. A theory of socialism and capitalism : economics, politics, and ethics / by Hans-Hermann Hoppe. p. cm. Includes index. © 2010 by the Ludwig von Mises Institute and published under the Creative Commons Attribution License 3.0. http://creativecommons.org/licenses/by/3.0/ Ludwig von Mises Institute 518 West Magnolia Avenue Auburn, Alabama 36832 mises.org ISBN: 978-1-933550-73-2 Socialism and Capitalism Hans-Hermann Hoppe A Theory of Acknowledgements Three institutions assisted me while I wrote this treatise. As a Heisenberg Scholar I enjoyed the most generous financial support from the German Science Foundation (DFG) from 1982 through 1986. The present study is the most recent work I completed during this period. Additional support came from the...
Words: 92669 - Pages: 371
...of self-respect; Ex. abject apology renounce upon oath washing renunciation; self-sacrifice; self-abnegation dwelling place; home cancel; put an end to detestable; extremely unpleasant loathe; hate being the first of its kind in a region; primitive; native; indigenous; N. aborigine unsuccessful; fruitless rubbing away; tending to grind down condense or shorten abolish cutting off; separation depart secretly and hide complete; totally unlimited; having complete power; certain; not relative; Ex. absolute honesty/ruler; CF. absolutism pardon (an offense) refrain; withhold from participation; intentionally not use one's vote; abstemious abstinence abstract abstruse abusive abut abysmal abyss academic accede accelerate accessible accessory acclaim acclimate acclivity accolade accommodate accomplice accord accost accoutre accretion accrue acerbity acetic acidulous sparing in eating and drinking; temperate restraint from pleasant things, esp. eating or drinking; CF. abstention: act of abstaining from vote theoretical; not concrete; nonrepresentational obscure; profound; difficult to understand coarsely...
Words: 52370 - Pages: 210
...California Law Review Volume 57 | Issue 1 Article 1 January 1969 The Legal Roles of Shareholders and Management in Modern Corporate Decisionmaking Melvin Aaron Eisenberg Follow this and additional works at: http://scholarship.law.berkeley.edu/californialawreview Recommended Citation Melvin Aaron Eisenberg, The Legal Roles of Shareholders and Management in Modern Corporate Decisionmaking, 57 Cal. L. Rev. 1 (1969). Available at: http://scholarship.law.berkeley.edu/californialawreview/vol57/iss1/1 This Article is brought to you for free and open access by the California Law Review at Berkeley Law Scholarship Repository. It has been accepted for inclusion in California Law Review by an authorized administrator of Berkeley Law Scholarship Repository. For more information, please contact jcera@law.berkeley.edu. California Law Review VOL. 57 JANUARY 1969 Copyright © 1969 by California Law Review, Inc. No. 1 The Legal Roles of Shareholders and Management in Modern Corporate Decisionmaking Melvin Aron Lisenberg* TABLE OF CONTENTS I A GENERAL THEORY ...... A. ... ............... 4 A NORMATIVE MODEL OF'VOTING RIGHTS IN PRIVATELY HELD CORPORATIONS ....... ................ A NORMATIVE MODEL OF VOTING RIGHTS IN PUBLICLY HELD ................ CORPORATIONS ....... 7 15 B. . ........ 1. Considerations of Public Policy .. (a) "Shareholder democracy ". . .. ........ ... . ......... (b) Client-group participation .. (c) Managerialism .......
Words: 89092 - Pages: 357
...Investment Banking Under Islamic Shariah PRINCIPLES: A Case Study on Export Import Bank of Bangladesh Ltd By Md. Mostak Ali ID: 3-03-03-025 A Project Report Submitted To Professor Md. Ali Akkas Department of Management Studies In partial fulfillment of the requirements for the award of the degree of MASTER OF BUSSINESS ADMINISTRATION UNIVERSITY OF DHAKA Dhaka 1000 September, 2011 September 29, 2011 Md. Ali Akkas Professor Department of Management Studies EMBA Program University of Dhaka. Subject : ‘Submission of project paper under evening MBA program’. Dear Sir, I, Shah Salahuddin Ahamed, am one of your students in the Evening MBA Program. It is my pleasure to inform you that, I have prepared my project paper which was assigned to me in the topic of 'Investment Banking Under Islamic Shariah Principles - A Case Study on Export Import Bank of Bangladesh Ltd.’ It was quite helpful for me to complete the paper under your prudent supervision. The theoretical knowledge that I have achieved during the MBA sessions helped me a lot to understand the practical business operations in different sectors and to prepare the report smoothly as well. My special gratitude to you & the Department of Management Studies and thanks to Exim Bank Ltd. authority. I have given my best effort to analyze the Investment Banking System in Exim Bank Ltd under Islamic Shariah principals, though I have lot to know & learn about Islamic Banking...
Words: 26574 - Pages: 107
...Introduction The aim of this report is to create an awareness of the interest rate which impacts the company. Moreover, the bank recommendations are evaluated whereby interest rate risk is exposed to the bank. There is a recommendation of a rate cut on loans by the bank board along with the growth of loan revenue and thus profit. We have also discussed the strategy to cover any decline in net worth using futures. Our bank, Make Life Easier (MLE) Bank involving the members with their respective ID which are Kok Yee Won (3889479), Lee Choi Yoong (3889459), Ng Mun Yi (3889480) and Sia Cui Lin (3889481). Interest Rates Bank profit is influenced by the changes in interest rates When interest rate rises, bank portfolio managers can expect changes on both asset and liability sides of their balance sheets (Flannery 1980). Bank revenues and costs will adjust to reflect the new level of interest rates at different speeds, depending on each bank’s collection of assets and liabilities (Flannery 1980). The asset side, an increase in interest rates may increase the amount of income a bank may earn on new assts it acquires (Flannery 1980). Assets were liquidated and mature over time with the proceeds of gradually being reinvested at the new higher interest rates (Flannery 1980). Many bank loans were carrying an interest rate that can change before the loan mature such as business loans (Flannery 1980). Whereas in the liability side, the impact of the interest rate changes on bank...
Words: 3781 - Pages: 16
...Is the Growth of Small Firms Constrained by Internal Finance? Robert E. Carpenter UMBC Bruce C. Petersen Washington University First Version: December 4, 1998 Second Version: June 18, 2000 This Version: January 22, 2001 Abstract This paper examines the long-standing theory that small firm growth is often constrained by the quantity of internal finance. Under plausible assumptions, when financing constraints are binding, an additional dollar of internal finance should generate slightly more than an additional dollar of growth in assets. This quantitative prediction should not hold for the relatively small number of firms with access to external equity. We test these predictions with a panel of over 1600 small firms and find that the growth of most firms is constrained by internal finance. Our results have implications for several different research literatures, including models of firm growth. JEL Codes: L0, D9 We thank Steven Fazzari, Lauren Lax, Josh Lerner, Dorothy Petersen, Laura Rondi, Alessandro Sembenelli, Jim Rebizter, James Stock and three anonymous referees for valuable comments and suggestions. We also thank seminar participants at Binghamton University, Case Western Reserve University, the CEPR Conference on Industrial Structure, CERIS-CNR, Depaul University, the 1998 EARIE meetings, the International Conference on Funding Gaps at the University of Warwick, the London School of Economics, the University of Michigan, the University of Missouri, the University...
Words: 7001 - Pages: 29
