...The accumulation of capital is the gathering or amassing of objects of value as judged by one’s perceived reproductive interest group, the increase in wealth through, concentration, or the creation of wealth. Capital is money or a financial asset invested for the purpose of making more money (whealth in the form of profit, rent, interest, royalties, capital may also be seen as a form of capital, investment in one’s personal abilities, such as through education, to improve their function and therefore increase their income potential in a market economy. Poverty is the inability of getting choices and opportunities of human dignity. It means lack of basic capacity to participate effectively in society. It means not having enough to feed and cloth a family, not having a school or clinic to go to not earn one’s living, not having acces to credit. It means insecurity powerlessness and exclusion of individuals house holds and communities. A developing country, also called a less developed country (LDC) is a nation with a lower living standard, underdeveloped industrial base and low human development index (HDI), relative to other countries. The development of a country is measured with statistical indexes such as income per capital (per person), (gross domestic product), life expectancy, the rate of literacy (ignoring reading addiction). Developing countries like Tanzania, Kenya, Ethiopia and others are, in general countries that have not achieved a significant degree of industrialization...
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...“Countries grow at different rates because they accumulate capital at different rates.” Is this true? Explain. Economic growth can be explained as the process by which a country’s wealth increases over time. It is mainly brought about by increases in productivity. It is possible that countries grow at different rates because they accumulate capital at different rates for a number of reasons. The accumulation of capital can be seen by an increase in wealth through concentration and comes about by investment in order to increase production. It is also adequate to include human capital as investing in education and training can improve productivity and thereby create capital accumulation in an economy. Both kinds of capital accumulation mentioned are generally essential for economic growth. Investment is crucial for physical capital to be maintained as without it, capital would change over time due to depreciation. The neoclassical growth model helps us to examine how capital accumulation leads to economic growth. It assumes that a country’s resources are used efficiently and that there are diminishing returns to capital and labour when the two increase. This brings about conditional convergence. If we take two economies to have the same level of technologies and have the same value of parameters for savings, depreciation and population growth, the country that starts with a lower level of output per capita will have a higher growth rate of output per capita. This will...
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...What are the basic principles of Marxism as an IR theory? Marxist conception of international relations. The first thing to note is that there is not a Marxist conception of international relations. For pedagogical issues we talk about it, but what we will try to analyze is what has been the contribution that the Marxist theory has done in this field. This leads us to the study of the Marxist theorists: Marx, Engels, Lenin, Rosa Luxemburgo... Their methodological contributions to international analysis and the confrontation between the "official" theoretical statements of the Communist Party from the Soviet Union, personified in Stalin and the Trotsky's permanent revolution, that was silenced for years by the Soviet authorities. Finishing this topic with the contributions from authors in the Marxist sector that have given rise up to what is known as the dependency theory. It is important to understand that Marxism as theory and method has created a new paradigm in the study of international relations, since it led to overcome the traditional state-centric conception. For Marxism the state shouldn't be the center, the basic thing is the concept of the class struggle, and they make emphasis on the contradictions and antagonisms of the existing classes, based on the analysis of the production relations (who controls the production means and who don't). This involves considering the world is not divided into states but into antagonistic classes. Marxist defend the idea of historical...
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...anticapitalist positions. The author of this article argues that a Left that does not give up on the generation of alternatives to capitalism but at the same time is responsible for governing, should think about a “great transition” without losing sight of the horizon of a “great transformation”. This article analyzes the Yasuní-ITT Initiative and presents it as an example of how to merge concrete and innovative proposals (transition) and utopias which go beyond capitalist development (transformation). Key words: Left, Capitalism, Good Living/Sumak Kawsay, Yasuní-ITT The world does not need alternatives for development, but alternatives to development. The world does not need to “better” use capitalism, but to transform it. That is the great historical challenge that the Left should take on, both intellectually and politically. The concept of “development” has been recycled and reborn again and again for all its critics and detractors. However, in a strict sense it has never been questioned as a concept, nor how to best achieve it. Whereas “human” development, “sustainable” development, development “with a gender perspective”, etc. are important advances to create world that is more humane, environmentally friendly, and equitable, they do not seek to change what is at the root of the accumulation and (re)distribution models inherent to capitalism.2 Taking this into account, it is...
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...Karl Marx and Max Webber both many had many philosophies of the capitalism and its effects on society. Their ideas helped pave the way and expand on theories of previous sociologists. Both men have a deep insight of socioeconomic class in the origins and development of modern capitalism. This paper will analyze the impact of capitalism on society as perceived by both men and the areas in which they agreed, disagreed, and expanded on the ideas of the other. In many ways, the Weberian theory was “rounding out” Marx’s theories, working within the traditions of Marxian (Ritzer, page 26). Weber viewed Marxists as economic determinists who offered single-cause concepts on societal life (27). Marx’s material orientation and its effect on society was something that Weber did agree with completely. Weber had a strong belief that most ideas are what shapes an economy, while Marx believed that it is the economy (and the materials within it, help to define our ideas (27). Weber was said to have taken Marx’s ideas and, “turned Marx on his head” (27). The inverse relationship between Marx and Weber transcends into many tremendous ideas on capitalism and the effects on society. Both sociologists have unique ideas on the driving measures that led to the development and the rise of capitalism. One of Weber’s most famous works called the, Protestant Ethic and the Spirit of Capitalism, dealt with the origins of capitalism and their “ethos”; ideas that are engraved into religious beliefs. Weber...
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...Hidden Worldviews: Chapter 3 Consumerism Chapter three of Hidden Worldviews by Steve Wilkens and Mark L. Sanford is about consumerism and the fine line between consuming things the way we should through Scripture and using much more than we actually need, making us consumers. At the most basic level, we all must consumer things. It unavoidable to not eat, drink, wear or live all must come from nature. That is any form of biological life. Humans however are more than this and must fulfill our social, educational, cultural and spiritual needs and desires. This requires natural resources to a degree. It is impossible to say that the consumption that makes life possible is bad. Beyond this though, it is clear that we must consume things to preserve and enhance our lives, but there is also the danger that responsible consumption will degenerate into consumerism. Consumerism is “a worldview that starts wit something that is a relative good-consumption- and makes it an absolute good” (Wilkens & Sanford pg. 45). Those that are consumers believe that we can find fulfillment by accumulating wealth and everything that comes with it. Although a consumerist “worldview is that almost non one will admit that they believe that salvation can be found by acquiring and using things” (Wilkens & Sanford pg. 45). We use way more than we actually need but why do we do this? They proceed to explain reasons why we continue to se more than we need. We all desire fulfilling and satisfying lives...
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...conditions are the cause of a higher level of income, because correlation does not imply causality. For example, the positively correlation between life expectancy and the income level may because a) better health conditions lead to higher income, or b) higher income lead to better health conditions, or c) something else cause both better health conditions and higher income. 2) According to basic growth models, do better health conditions contribute to higher income levels? Explain. Yes. Better health conditions means higher accumulation of human capital in an economy. According to the endogenous growth models, human capital is one type of capital. In basic growth models, capital accumulation is one of the driving forces of economic growth. As a result, according to basic growth models, better health conditions would lead to higher income levels. 3) Will health conditions be affected by income levels? Contribute a story and explain. (There is no single answer to this question.) Yes. For example, malnutrition is popular in some developing countries. The poor do not eat well because they lack money. This...
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...HISTORY OF FISCAL ADMINISTRATION AND THE THEORY AND PURPOSE OF TAXATION Introduction Fiscal Administration is not difficult to define. In simple terms, fiscal administration is the branch of economics that deals with the revenues and expenditures and their impact on the economy. It is the manner of collecting something from the constituents and spending it also for the constituents. And the exact definition according to http://www.wisegeek.com/what-is-fiscal-administration.htm, fiscal administration is the act of managing incoming and outgoing monetary transactions and budgets for governments, educational institutions, nonprofit organizations, and other public service entities. Constituents charge leaders, whether governmental or organizational, with establishing fiscal policy as part of their duties in relation to responsible fiscal administration. Fiscal policies are tools for the development of fiscal planning budgets, based on the receipt of anticipated funding. As fund disbursement in the form of payroll, purchases, or other expenses occur, management reports appropriate accounting information back to organizational leaders. Historical data, future revenue projections, and current budget demands determine needed adjustments. The entire process forms the basis for future fiscal administration decision making. Leaders of government, nonprofits, and other public service entities have a fiduciary responsibility to those who put them in office, individuals...
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...is one of many Hip-Hop groups that promote violence through music. Other songs such as “She swallowed It” and “Dopeman” both promote greediness, “lawless desires”, sexism and being promiscuous. If Plato were alive today to bear witness to Hip Hop music he would have despised the content of these songs, as the aforementioned contents of this type of music are all aspects of society in what he calls the “Luxurious City” and the “Purged City” and go against his idea of a just society. Hip-Hop’s first major concept that is addressed time and time again throughout its lyrics is the concept of Greed. Greed is defined as an “intense and selfish desire for something, especially wealth, power, or food.” (Oxford) Many Hip-Hop songs address accumulation of wealth (among other things). In terms of the “Healthy City”, Plato deems that being greedy by collecting wealth and property for the sake of doing so (and having more than is necessary) turns a healthy city into a luxurious one. Once a luxurious city, many problems arise, thus eliminating the justice from society. Plato discusses that our natural desires such are those that we need to survive and nothing more. These...
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...Reporting Practices and Ethics Paper Week Two Indivdual Assignment By: Student HCS-405 Mr.Shin 04/15/2013 Reporting Practices and Ethics Moral guidelines and reporting practices are joined into the money related reporting and administration of health awareness. Reporting monetary information equitably and authentically is quintessential to this. Mindful money related arranging can anticipate capital misfortune through ventures, representatives, and clients. Financial reporting offers help in ascertaining: sums, money stream, timing, and other information crucial to organizational assets. Four Elements of Financial Management Inside financial administration there are four principal components to acknowledge: arranging, ordering, regulating, and choice making. Arranging incorporates an anything but rushed process that impacts choices in income and organizational objectives. Organizational administration should mediate between faculty and the incitement of budgetary arranging. A financial administrator is responsible for choices made throughout the arranging methodology. All informative data gathered and estimated will help in updated choices and positive results. The accumulation technique is adequate in acquiring or deals and is used by administration in recording and distinguishing the aforementioned things. The Four Financial Statements The four financial statements are the balance sheet, the statement of revenue and expense, the statement of fund balance...
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...Barriers to Asset Building of Working Poor in Hong Kong Subject: Doing Policy Research Subject Code: APSS 3220 Lecturer: Dr. Chen Juan Student Name: Sai Kwan (10704047D) Table of Content No. | Title | Page | 1 | Abstract and Introduction | 2 | 2 | Literature Review Situation of Working Poor in Hong Kong Introduction to Asset Building Asset Building Policies in Hong Kong Theory of Determinants of Asset Accumulation Conceptual Framework for Determinants on Asset Building Barriers to Asset Building in the US Context | 3 | 3 | Research Objectives, Questions, and Design | 8 | 4 | Research Findings Situation of Asset Building of Working Poor in Hong Kong Barriers to Asset Building of Working Poor in Hong Kong | 9 | 5 | Discussion and Summary | 17 | 6 | Policy Implications | 17 | 7 | Limitation of the Research | 19 | 8 | Conclusion | 20 | 9 | References | 21 | 10 | Appendixes | 24 | 1 Abstract - It is widely acknowledged that the numbers of working poor in Hong Kong is tremendously increasing. This paper looks at the barriers of working poor’s asset-building which haven’t intensively discussed by both the government and academicians in Hong Kong. I conducted survey of 45 working poor and 6 intensive interviews. Results revealed that financial...
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...surance Ahsanullah University of science And technology [pic] Assignment on : Delta life insurance company Prepared for : Sarah Chowdhury Lecturer Faculty of School of Business Prepared by : Nayma Yashfi (09.01.02.002) Jannatul Ferdaush (09.01.02.037) Humayra Rashid (09.01.02.003) Md. Shamiul Islam (09.01.02.041) Afeef Mahmud (09.01.02.020) Md. Rabiul Ahmed (09.01.02.049) Fariha Tabassum (09.01.02.022) Kazi Tarikul Islam (09.01.02.026) Md.Kamrul Islam (09.01.02.034) Nafisa Tabassum (09.01.02.036) Table of content |Back ground of the insurance company | |Contingency | |Specific policy taken for that particular policy | |Key factors of that particular policy | |Various packages of that particular policy | |Limitation of the sum amount of the insurance for that particular policy | |Duration...
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...When discussing poverty, we soon become aware that it is indeed a difficult thing to measure. Although difficult, it can still be measured. There are a few ways to define poverty. Absolute poverty is a food-based measurement that defines poverty as the “point at which a household’s income falls below the necessary level to purchase food to physically sustain its members.” Poverty is generally thought to be associated with the inability to meet the basic needs of life; however, the definition of these “basic needs” is socially constructed and, therefore, varies widely internationally. Many people, therefore, may turn to relative poverty for what they may consider a more accurate measure of poverty. The definition of poverty in this case is based on “a percentage of the median income” in a given area. When discussing absolute poverty, we quickly learn that what is seen as poverty changes over time. In 1899, sociologist Rowntree, categorised poverty into 2 sections, Primary and Secondary. He said primary meant not having enough money coming in each week to live a normal, healthy life, even if every penny is well spent. There was then secondary, this was when selected citizens had earnings that were sufficient, but spent it on unnecessary items, such as alcohol and drugs, leaving them in poverty. When comparing this to the evaluation given in 2003 by Gordon and Townsend, we see the stark contrast between the definitions and how the definition has changed over time. They said that...
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...1.0 TOPIC 2 Critically assess the claim that it is better to enjoy your money when you earn it than saving your money for sometime in the future. It is all about the money. That is what everyone talks about these days to the extent of even having a television network like Bloomberg dedicated to it. Originally, money was created as an instrument of commerce and was universally used to the measure of value (Smith, 1937). Undeniably, money has taken a dominant place to gain access to being our basic necessity to provide a quality and way of life. It plays a special role in both our personal and social lives, exerting more power over human lives than any other single commodity (Furnham, 1998). So, it is not unusual for one to have a wrestle with the decision of whether to enjoy one’s money when one earns it or to save one’s money for sometime in the future. The statement ‘enjoy your money when you earn’ is an opinion of spending today, whereas the statement, ‘saving your money for sometime in the future’ is an opinion of saving for tomorrow. The overall statement only shows two possibilities of managing money, when in reality, there are other outcomes which include ones that lie somewhere between these two extremities. Therefore, the false dichotomy fallacy occurs. Money attitudes differ from one generation to another. For instance, our parents (generation X) were cautious and conservative in both spending and saving for future use and they influenced us to be the...
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...Fiat money, as it is designated (from the Latin Fiat “Let it be done”), is the norm today, a currency that has no intrinsic use value but, because it is granted the status of legal tender, acquires an exchange value. The value of money is thus, in part, a matter of convention and trust. So is, in a way, the value of Art. In times of a desperate leap towards ‘development’, a pile of money may appear as a blunt statement exposing the inter-connectedness of money’s fluctuating value and the transiency of dreams, a ‘numen’ hovering over our contemporary nation. It could also stand for the excessive appetite for wealth that has catapulted us into today’s political and financial dire straits. Unless of course, it turns out that most of the bills are just an imitation. Is not real money only a facsimile, always a copy of itself, without the original; behind them, creating volume, stocks, trading, networks. Money seems to measure or represent everything today, or, more accurately, mis-measure and misrepresent everything. What does this “money” mean then? And, more important, what is its worth? Money relies on accumulation and repetition to determine...
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