...Article Review: - The Greed Cycle, by John Cassidy The article by Thomas Cassidy, points out the instrumental role that greed plays in the modern corporation. Modern Economists have always seen greed as not only a necessary element in the corporate environment, but as also a vital part of the successful evolution of a public company. As the article points out, “Economists from Adam Smith to Milton Friedman have seen greed as an inevitable and, in some ways, desirable feature of capitalism. In a well regulated and well balanced economy, greed helps to keep the system expanding”. In the early public companies, greed was not seen as a danger, as the implicit trust that managers would not slack off, and would run the company in the interest of the stockholders and stakeholders was not undermined. Economist was the first to identify the issue of managers not acting in the interest of the shareholders, and instead being motivated by greed, and “self-enrichment”. Public Companies, evolved as a way to create financing for large industry, where in the owners agreed to relinquish day to day control and operation of a company to mangers, who in turn would act in their interest, and maximize revenues. As the article points out, in the beginning, “most of the professional managers were content to collect generous salaries and pensions rather than habitually attempt to rob the stockholders and bondholders. It is a strong proof of the marvelous growth in recent times of a spirit...
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...Juan Badia English 1301 Guillory 21 October 2014 To be a Rock and Not to Roll It is easy to get caught up in the earthly possessions that we have. It is far more difficult to let go of your greed and to find your own happiness before your death. This was especially prevalent in the 1970’s when Led Zeppelin produced “Stairway to Heaven.” America was in the middle of an economic downfall that essentially left two classes: rich and poor. Led Zeppelin wrote “Stairway to Heaven” to enlighten those who have lost their way in greed and materialism. They gained their listeners attention by drastically changing their otherwise hard rock tone to a softer power ballad, using a storybook method to make their argument, and using appeals such as ethos, pathos and logos throughout the song to make a long lasting connection to their audience. When “Stairway to Heaven” aired in 1971, avid Led Zeppelin listeners were taken aback by the song’s sound. Led Zeppelin is known for its hard rock tone and musicality. “Stairway to Heaven” and its musicality begins as a very slow, depressing guitar arpeggio and a story begins to take place. Slowly and deliberately, more and more instruments are introduced to the whole of the song as the true purpose of the song comes to light, ending in a more typical, upbeat Led Zeppelin sound. The composers wanted to grab their listeners’ attention by being so drastically different. What they had to say was worth the initial sacrifice of being the opposite of...
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...Lessons for the Future 1.) Why did housing prices rise rapidly during 2001-2005 and then fall in the years immediately following? Did regulation and monetary policy play a role in this housing boom and bust cycle? “During the years of 2001-2005 housing prices rose due to the fact that the mortgage default rate and the foreclosure rate was at an all time low” (pg.671). The government was making new standards for housing loans and mortgages, which made them more affordable and easier to get, even if you didn’t actually meet the old standards you could still be eligible for loans and mortgages. Immediately after this housing boom, a bust arisen in the housing prices. The bust was caused because many of the monthly mortgage payments stopped coming in. This was because mortgage loans were made to more people whose chances of repaying them were less than in the past. These mistakes can simply be blamed on misjudgments by the banks and other leaders. When millions of these payments stopped coming in, there was no amount of financial expertise on Wall Street or government help that could save the whole investment structure built on the foundation of those mortgage payments. Government regulation and monetary policy played a significant role in the housing boom and bust cycle because government regulations and interventions are precisely what pushed lending institutions to reduce the standards which they had traditionally required of prospective borrowers before making mortgage loans...
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...Accounting Cycle Accounting Cycle For all types of businesses, transactions take place. Transactions vary from such things as sales, expenses, wages, purchases, and receivables. These transactions are maintained in various journals and ledgers and tell the financial story of the business. The process of maintaining this financial story is called the Accounting Cycle. Evaluation There are ten steps involved in completing the accounting cycle. They are as follows: “(1) Transactions are analyzed and recorded in the journal. (2) Transactions are posted to the ledger. (3) An unadjusted trial balance is prepared. (4) Adjustment data are assembled and analyzed. (5) An optional end-of-period spreadsheet is prepared. (6) Adjusting entries are journalized and posted to the ledger. (7) An adjusted trial balance is prepared. (8) Financial statements are prepared. (9) Closing entries and journalized and posted to the leger. (10) A post-closing trial balance is prepared.” (Warren, Reeve, & Duchac (2012) pg. 162) The accounting cycle begins with analyzing and recording transactions. The bookkeeper, for example, would review the invoices, purchase orders, bank statements, etc. After the transactions have been analyzed they are now ready to be posted to the journal using the double-entry accounting system. The double-entry accounting system means that the transactions are recorded in at least two or more accounts so that the debits and credits equal. ...
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...most lavish of cars. Present day society consists of a consumerist world that is constantly seeking validation through material items, affirmations, or any outside entity that does not fulfill the soul. Instead, the possession of these sought out desires creates fleeing feelings of satisfaction that fulfills the ego temporarily. This feeling of greed then controls the entire mind, and every action thereafter is an effect of the sin. Unfortunately, the consistent cycle of the desire for greed is due to society persistently marketing to people through the “biggest and best” product advertisements, social media, etc. The unpleasant feeling of never having enough is a feeling so common; society does not condemn it. It rather provides a by-the-minute news outlet and feeds its users through creations such as “news feeds”, renewing the cycle daily. It is through the use of constant streaming at the touch of a button that greed has become a sin that effects so much of the population. Once one allows for greed to consume them, one permits for his or her body to become the feeding ground upon which all other sins will engulf. Thesis: Greed is the tree that stems into all other branches of the deadly sins, as the desire and need to acquire someone else’s possessions or situations can create feelings of gluttony, envy, anger, lust, sloth, and pride. The falling of leaves always summoned for the falling of hearts. Willow Spruce was a town famous for its frequent love stories, with most...
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...One value in Buddhist teaching is interconnectedness. It discards the notion that people hierarchically are above all other beings. People tend to forget that the world is interconnected and that once we exploit our resources they are gone. As humans control the earth and do with as they please they can an in many cases unintentionally destroy the earth and its natural resources. One environmental issue caused by human impact is the overfishing of the Bluefin Tuna to the point where it has been placed on the critically endangered species list. Bluefin Tuna are being overfished at an alarming rate this human greed from a Buddhist perspective will cause the depletion and over all extinction if nothing is changed. Bluefin Tuna populations in the Atlantic Ocean have declined over 70 percent in the last thirty years yet because seafood is a global commodity being flown into markets around the world the demand has become unquenchable. Overfishing for Bluefin continues scientist expect the fish to become extinct by 2012 if nothing changes. (PBS.org) The Bluefin Tuna is a species of Tuna native to both the western and eastern Atlantic Ocean as well as the Mediterranean Sea. This is a relatively large species of fish. A full grown male can average six to eight feet long and can weigh up to 770 pounds, although the Bluefin is capable of reaching over one thousand pounds. Bluefin Tuna are robust and rhomboidal in shape. They have dark blue upper body and grey below with a gold glint...
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...Enron: Opportunity for Corruption It could be argued that the majority of Enron employees knew that something was not right with the company. So much money was being made yet there was no solid evidence on how that money was being made. The Enron financial scandal that swept the nation was the primary result of a company with too much free will. The purpose of this paper is to show with evidence from the Enron case how no government regulation on companies can lead to humans making unethical choices based on greed and ambition. Enron executives initially applied for and were granted deregulation by the government. This allowed Enron executives to portray financial statements in any way they pleased. Government deregulation allowed the opportunity for the executives to manipulate these statements in a way that made the company seem profitable and in good financial standing. These false and misconstrued financial statements fooled shareholders into further investing into the company. With this type of freedom to exercise their business in which they pleased, Enron employees were bound merely by their ethical values. Enron employees failed as ethical gatekeepers by not putting a stop to the unethical actions of fellow employees and by they themselves participating in this unethical behavior. As an employee of a company everyone has an ethical duty to perform their job and do it in an ethically acceptable way. Many Enron employees did not question the practices of the company...
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...sold to 11 million customers as opposed to the only 180 people who lost their lives! Valuing a human life at $200,000 against a part that if individually purchased cost $11, Ford felt that it was less expensive to settle fatality claims at $200,000 per life – so they thought, until jury’s started awarding multi-million settlements – so much for their cost-benefit analysis. When a person comes to a conclusion on a decision, many times there are influences from outside sources that impact the choices made. In this case it is the lack of caring about human life, death and suffering. If you fall into that category, society looks upon you with the utmost contempt. People have generally accepted that death is a natural part of the human cycle. The problem is that people usually come to easier terms with death when people die of “natural causes” and have lived a long and...
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...reincarnation of a soul and ultimately liberation from rebirth. Willful intentions, whether good or bad, create a cycle of the soul. While most people feel that karma is “what goes around comes around,” I do not feel like that saying is truly karma in the Buddhist sense. Rebirth seems to be an integral idea of karma and someone’s reality is a reflection of their thoughts and actions, not just doing one thing wrong and getting reprimanded or chastised for it. The substance of the unconscious mind and pressures of desires unfulfilled, dreams unrealized, and incompletion of the soul’s mission to the ultimate afterlife are the keys to karma. The human potential for spiritual and personal growth aids in making karma into wisdom, understanding and virtue. It seems that a Buddhist’s life and character were created by karma and that shaped by imagination and intelligence. I believe they think it is paramount for individuals to achieve a clearer understanding of their personal karma to find out what triggers it and what resolves it so they may actualize their potential and become finally free. In the good sense, karma can inspire change and it spreads good since the belief that everything a person does actively contributes to their past, present and future experiences. It isn’t necessarily about what is good or bad, but the cause and effect nature; doing good leads to more good. This cycle of cause and effect is the summation of all that an individual has done, is doing and will do. Karma makes...
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...challenged. In the past century the unethical business process of war profiteering has risen, leading to the unjust profiting during a time of crisis. War profiteers have made billions of dollars during war since the beginning of war time fighting in the United States. The overall economic gain of oneself during war time capitalizing off another's suffering or hardship, taking advantage of the disparity during conflict. The economic gain from profiteering can be major, in the past decades three major companies have erupted all gathering their economic gain from this process Boeing , Lockheed Martin, and BAE systems. The war profiteering process that is highly involved in the United States will further corrupt the country, the unethical business cycle leads to a creation of immoral decision that will continue to the destruction of the nation. Profiteering off war is unjust in its creation of million of dollars made for those who are involved in this selective process. The United States government is a democratic republic giving large sums of power to elected officials, in the Senate of House the 415 members only two members rejected the deal of to Boeing aircraft in a refueling contract of tanks. ( Barnes 1 ) In regard to war profiteering,the deal would cost the U.S. military 20 billion dollars. The deal stated in Julian È. Barnes investigated report claims that Boeing Aircraft, a major war profiteer cashed in on a deal that later ultimately cost the US government 318 billion dollars...
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...RS. Meaning of Life The meaning of life For those who don’t understand the meaning of life, it has been a mystery that many theorists, philosophers, and scientists have been trying to put together for decades. From the Religious beliefs of Christianity and Buddhism to the Big Bang theory and how the universe was created, we are still questioning whether these beliefs actually tie into where we may finish at the end of our lifeline. It is possible that we do enter a new realm of reality, where we are reincarnated into another being. The slightest chance of there being a Heaven and a Hell are likely to be controlled by the God and the Fallen Angel, Michael. There is also the account of whether or not there is even a place where we venture onto after death, there could just be nothingness, and all that we live for has no real purpose behind anything that we do; the idea of things happening with no cause. What we believe can shape us into virtuous beings or not. If we are able to become virtuous, we then live a morally sounded life, where we treat others how we would want to be treated. This means life is enjoyable, and those around you could be greatly influenced by your approach on life. How you wish to project yourself shows the inner qualities that you posses without knowledge or awareness of your way of living. There is a chance of dying into nothingness, and living just to exist. You create your own meaning of life and you are the projection of your life. What you wish...
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...A case study of Envy, Jealousy and Greed In this essay I would like to write a case study based on a person I know who exhibits feelings of envy, jealousy and greed towards other people and which can be compared to the psychoanalytic views and theories of Melanie Klein. To begin with, I would like to summarise the expert opinion of Melanie Klein on these matters, before expanding on the case study to define the manifestation of envy, jealousy and greed in the selected personal example. Klein believed that there should be a distinct line separating envy, jealousy and greed. She clearly stated that: “Envy is the angry feeling that another person possesses and enjoys something desirable…jealousy is based on envy, but involves a relation to at least two people; it is mainly concerned with love that the subject feels is his due and has been taken away (Klein, 1962, p. 6). Further, according to Klein the difference between greed and envy is that greed is connected with introjection and envy with projection (Klein, 1962, p. 7). The case study I will form is about a woman called Helen. Helen is a 65 year old widowed woman with one daughter and three grandchildren. Her husband passed away 24 years ago. Helen’s profession was as a school teacher. Her childhood was difficult because she was raised only by her mother as her father got married to another woman and left the family home. The envy of Helen begins from her childhood experiences. According to Helen, she was always jealous of...
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...MONEY IS THE ROOT OF ALL EVIL. I don't agree with that saying. Money is the instrument of exchange. It helps in buying and selling and also in fixing a value on things or services. It may be in metal or in paper. Money is always said to be the root of all evil, but I dont agree with that. The money is said to be the root of evil because man have a wrong usage on it. Actually, money is just a medium of exchange. Money does not have brain to think how to hurt people. It is the thought of human that used money as a tool for evil purpose. Many of them did wrong looking for a quick buck or two and end up doing some action that hurt another people. But they blame all the fault on money in fact is their brain that cause the evil. Money is not the root of all evil. In fact, the love of money is the root of all evil. When a person love money so much, he will jealous on other with more money and he tends to get more money than him in every possible way even by committed crime. A man greedy is also another negative sign of loving money. They never satisfy the amount of money they have, they want more and more. They steal, rob and cheat to get quick money to fulfill their greedy. In addition, the wrong definition towards money is also causing the evil. Many people think that money is everything, no money mean no life. But when we look backward, the ancient people still can survive without money. Money is just a tool that used to exchange goods. People nowadays become slaves...
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...Plender (2015) explores Chinese government’s recent attempt to stabilise state businesses with capital injection in the shadow of self-generated exorbitant share prices which seems characteristically Chinese. However, the plunge in the market which swiftly followed, he proposes, has had a major impact on the capital (Beijing), suggesting that the Chinese totalitarian approach to controlling capitalism encounters difficulties not too different from our own. Deng Xiaoping’s China, he notes, epitomises the ability of the capitalist system to avert penury yet raise separate problems in the process. Plender (2015) argues that greed is behind the growth of our economies. Quoting John Maynard he asserts that a capitalist system is one which believes that this greed will yield the best outcome for everyone. The morality surrounding money has been a major issue for centuries, Plender (2015) suggests, alluding to Plato, Aristotle and Jesus who repudiated the desire for money and its consequences. Plender (2015) discusses businesses, as well as the people involved, and the mockery and ridicule that they are subjected to. He examines the businessman’s ostentatious and reprobate nature has been the muse for novelists of the...
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...Difference of Powers Throughout history, society has been witnesses to individuals that have evolved into selfish and narcissistic beings who rise and take power. They initially bring a temporary sign of hope to their people in the form of freedom and happiness but is short lived and overturned as these individuals solely base their lives around greed. Their thirst for power runs through their veins taking hold of their mind ultimately causing them to stop at nothing to gain power. In George Orwell’s Animal Farm, the pigs new surge of power leaves them unsatisfied causing them to exploit and manipulate the other animals. The pigs defy their code to gain authority eventually leading to the corruption of the farm by their own greedy desires. George Orwell reveals the destruction that greed causes through the main antagonist, Napoleon, the affects of communism and his own life experiences. This ultimately leads the animals and Orwell into a world they do not recognize. Greed can be seen as a silent force that has the ability to conquer one’s life, where their selfish attitude allows his or her’s infatuation of power to consume them. Napoleon’s desire to become the only leader devours him as he becomes deceitful to animals except to the pigs. The animals on the farm are captivated by this new forming idea that they can become their own individuals by overthrowing the owner, Mr. Jones. This results in the animal to rejoice as they believe that they are able to control...
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