Manichism In Economics Essays - Economic Theories,

Manichism In Economics The Manichaean character of economics. Charles Kindleberger. Abstract: Economics is said to have adopted a certain degree of dualism. None of its tenets have been absolute in terms of social effectiveness. To survive in an economic system, rules must be enforced to ensure the peace. There are times when pluralism is good for a society as a way recognizing social differences. However, there are times, such as war, when the rule of a central authority is preferred. Laws in economics are hardly permanent since such regulations are enacted and enforced only when the need arises. Full Text: COPYRIGHT 1999 M.E. Sharpe, Inc. Are there any absolute answers in economics? This international trade economist and economic historian has his doubts. The answer to most questions is "It depends." Manichaeus, as we all know from the Oxford dictionary; was a Persian philosopher of the third century A.D., whose system held some sway throughout the Roman empire and Asia until the fifth century (with some elements lasting to the thirteenth). He believed in dualism, the coexistence of good and evil, with Satan coequal with God. I suggest that economics has a heavy dose of dualism, though I hesitate to characterize views that differ from mine as evil or satanic. In the first edition of Economics: An Introductory Analysis the only one I read when I was teaching the introductory course - Paul Samuelson wrote that when one is offered a choice, it is not legitimate to say "both." I hesitate to differ from my esteemed colleague, but "both" is often a correct answer, as occasionally is "neither." Is one supposed to believe in Say's law that supply creates its own demand, or Keynes's law that demand creates the needed supply? In the course of a long academic life, I have developed Kindleberger's law of alternatives, based on historical examples. Often after extended policy debate, the powers that be end up doing both. In 1931 Keynes recommended tariffs, others devaluation or depreciation. Outcome: both. During World War II there was a vigorous Allied debate as to how best to push back German railheads from the Normandy beaches, whether by bombing marshaling yards, as the British called them, or bridges. Answer again: both. Nor did questioning a German prisoner of war, General des Transportwesen West, under Marshall von Runstedt, make clear which was better. American interrogators got the answer from Oberst (colonel) Hoffner they wanted - bridges - and the British theirs - marshaling yards. Robert Heilbroner has been a Classicist (Say's law?) and a Keynesian (Keynes's law?) and has been mildly infected with Marxism, but has never to my knowledge adopted the absolutist position of denying all truth to the polar opposite. In economic debates we have capitalism versus socialism; perfect markets with rational and informed suppliers and demanders versus market failure; monetarism versus Keynesianism; fundamentals (such as geography demography, technology, and perhaps history) versus institutions, path dependency; externalities, and occasional breakouts of herd behavior ending in financial crisis; free banking versus regulation and central banks; public choice versus markets (governments make mistakes but markets seldom do, and such mistakes as they rarely make are quickly corrected); centralization versus pluralism; rules versus decisions by authorities . . . One could go on. In international trade, which I taught before I learned the delight of historical economics, I was wont to say that the answer to every question in economics is, "It depends," and that it usually depended on the magnitude of the elasticities. President Truman sought one-armed economic advisers because of his unhappiness with the answer to his question "On the one hand, . . .; on the other hand, . . ." I have admiration approaching reverence for the thirty-third president of the United States, but I cannot endorse his pleas for an answer of "Yes," or perhaps "No," followed by a number. Let me illustrate this deeply philosophical or perhaps cowardly position with a few examples drawn from history. I skip capitalism versus socialism because most of us believe in the mixed economy, perhaps leaning slightly to one or the other, but in any case nowhere near the limits. Such, as I interpret it, is the Heilbroner take on Marxism since his infection at (by?) the New School. Centralization versus pluralism can be disposed of in two sentences, though I have a book of 100 pages on the issue: In quiet times, pluralism is better because it is more democratic. In crisis or on deep moral issues such as slavery or racism, some central authority is preferable. It is, however, difficult to

buy custom National Liberation Front essay

buy custom National Liberation Front essay The greater part of the population in Algeria was composed of the native Arabs as well as the Muslim faith Barbers. There was also a considerable proportion of the settlers whose origin were the European regions and most of them were Christians as well as Jewish. Prior to the time of the invasion, Islam happened to be the existing religion dating back from the time of Arabic invasion. Christianity was later introduced by the French which proliferated in a fast manner to become the major religion in the country. This resulted to the creation of a break up between the Algerians affiliated to Christianity from the ones who were affiliated to Islam (Aussaresses, 2006). Colonization was also responsible for the creation of duel personality in as far as Algeria was concerned Most of the posts of administration had been taken up by the French there were great disparities between the standards of living of settlers in comparison to those one of the natives. This was also a major factor that was responsible for the widening of the chasm that caused a separation of the two communities. At the time that the combatants of Algeria who took active role in World War 2 in the context of the framework of the Free French Forces and also in addition to the ones who participated in Indochina war came back home, they rejected to belong to the citizens of second class category while at their own country. This was the starting point for the onset of nationalist movements that at the time existed in a state that was more or less latent to initiate the perpetration of actions resulting to violence (Maran, 1989). At that particular time prior to the war, in France, there occurred a high level of opposition in as far as the conflict was concerned in consideration of the majo rity of the population segments with specific reference to the leftis, whereby French Communist Party which was at the time the most strong political party in the country, offered its support to Algerian Revolution. A high number of the conscripts relatives in addition to the reserve soldiers endured great extent of pain in addition to losses. There were also torture revelations in addition to the random brutality by the army to the populations of the Muslims. This was a cause of the escalation of proliferated revulsion in addition to the noteworthy constituency that propped up the principle allied to national liberation. There also an increase in international pressure that targeted France with respect to giving independence to Algeria. (Windrow, 1997). As a result of the support that was given to National Liberation Front, F.L.N., by a variety of the neighboring countries which played the role of being their sanctuary as well as supplying them with the arms as well as the ammunitions, a secret organization was created by F.L.N. this initiated the rallying as well as the elimination of the political rivals with the use of persuasion techniques in addition to the terrorism acts leading to the formation of the armed wing, the A.L.N, that later was involved in the engagement of the intensive operations of the military against the force of the French that were stationed in the land of the Algerians. Buy custom National Liberation Front essay

Current event article and synopsis about obama care

Current event and synopsis about obama care - Article Example White House spokesman Jay Carney downplayed the CBO report, arguing that â€Å"CBO does not take into account positive impacts on worker productivity due to the ACAs role in improving workers health, including reduced absenteeism.† But there is no worker as unproductive or as absent as the one who works less on purpose because a small increase in pay could suddenly deprive him or her of a large Obamacare subsidy. One White House adviser tried to defend this as creating new â€Å"options† for workers, but this is an ad hoc defense, forced on Obama as an unintended and unwelcome consequence of his health care law. Obamacares disincentive to work directly contradicts Obamas consistent philosophy of work - something he began articulating as long as a decade ago and which he has restated as recently as last weeks State of the Union address. Obamas philosophy is an orthodox liberal one, but it starts with premises most conservatives would embrace. In his 2006 memoir The Audacity of Hope, he extolled the virtues of â€Å"self-reliance," "self-improvement," "drive," "discipline," "temperance," "hard work," "thrift" and "personal responsibility.† Then he added the punch line: â€Å"The legitimacy of our government and our economy depend on the degree to which these values are rewarded.† In a passage that specifically criticizes the perverse incentives of the welfare state, Obama wrote that â€Å"Americans believe in work — not just as a means of supporting themselves but as a means of giving their lives purpose and direction, order and dignity †¦ Americans also believe that if we work full-time, we should be able to support ourselves and our kids. For many people on the bottom rungs of the economy — mainly low-skilled workers in the rapidly growing service sector — this basic promise isn’t being fulfilled.† In short, Obama appeals to the work ethic as something government and all employers have a societal obligation to reward. This echoes in the argument

A judgmental international classification of financial reporting Essay

A judgmental international classification of financial reporting Practices - Essay Example Without conceptual framework there have been many issues and problems that have emerged with the passage of time and different people have different opinions on solving the problem (Hines, 1988). Therefore there has been a need for some guiding principles or some kind of structure on the basis of which different decisions can be taken and reporting of financial statements could become reliable and consistent (Zeff, 1972). With regard to this, conceptual framework is helpful because it provides a guideline and a foundation of anything and it can be referred to by people (Nobes, 2006). Conceptual framework issued by FASB The following image gives an overview of the conceptual framework issued by FASB. In an ideal world accounting reports that are developed using the suggested conceptual framework would be more useful than other accounting reports which are prepared without using of conceptual framework. ... Considering its importance, there are several objectives of accounting department and these objectives are described below: Preparing Reliable and Consistent Financial Statements Accounting has a major role to play in any organisation (Amaratunga , & Baldry, 2003) because accountants prepare financial statements and records the financial transactions of the company (McCarthy, 1982). These reports and financial statements reflect the proper financial information which is helpful for the stakeholders of the company including investors, employees, shareholders, suppliers, government agencies, customers and potential customers as well as competitors (Ball, & Brown, 1968). The main objective of accounting is to provide information which is useful for the users of financial statements like investors, creditors, and other stakeholders (Chua, 1986). Therefore it is integral that the information provided by the organisation is useful, accurate, authentic, consistent and reliable. Inaccurate i nformation can mislead the users of the financial statements and it could also distort the decisions taken by the management on the basis of financial statements therefore it is important for the organisation to prepare financial statements that follow the principles accepted by others as well (Hogarth, 1993). Thus, a conceptual framework would be required which the accountant can use as a guideline while preparing financial statements to make the financial information consistent and reliable. Keeping Records of all the transactions in a systematic way The other major objective of accounting is to keep records of all the transactions that occur in day to day routine processes in a systematic way (Abdel-Khalik, & Ajinka, 1983)

Death penalty Essay Example | Topics and Well Written Essays - 1000 words

Death penalty - Essay Example This paper will examine the benefits and the fall backs of the death penalty, and argue if it should be allowed or banned based on the evidence in the paper. According to Chan and Oxley, capital punishment is a legal process sanctioned by the state that allows for the termination of a felon offender’s life, who has committed one or multiple heinous offences (Janet and Oxley 2). This process is usually prohibited in many countries for the same questions that this paper raises and seeks to answer. Is capital punishment morally wrong? Does capital punishment deter crime? Can capital punishment be justified when done in consideration to the welfare of the public? Many people have found the death penalty or capital punishment to be morally wrong but when atrocities are committed against their loved ones, they quickly have a change of heart. Over the years, there has been a growing base of activists advocating for the abolishment of the death penalty all across the world, therefore, influencing many countries to abolish the act. Even the United Nations does not support the death penalty, citing a law borrowed from the American Bill of Rights, which stresses on the right to life. However, the United States of America has not given in to International pressure to abolish the death penalty but insists that the death penalty is neither cruel nor an unusual punishment when it is employed non-discriminatively and in an unarbitrary manner (Dezhbakhsh and Shepherd 512). Many individuals consider the death penalty to be morally impermissible. They argue that the act is constitutionally cruel and uncivilized. They claim that imposing capital punishment, no matter how humane the method of administration is, is still a transgression of the rule of law. They also say that capital punishment would lead to the wrongful death by execution to some innocent people whose cases were marred by false evidence. They argue that if the justice system was to make a mistake and realize it later after the death penalty has already been executed, the damage would be irreversible and unfair to the family and the individual. They also argue that capital punishment shows arbitrariness, in that the criminals may prefer that form of punishment. Capital punishment has also been said to be discriminative. Critics argue that racial discrimination is evident in the justice system, where criminals declared guilty of killing white people were four times more likely to be served with the death penalty than those who killed non-white individuals. This shows that the death penalty is discriminative even though it is said to be non-discriminatory (Sunstein and Vermeule 2). Capital punishment seems to have a few shortcomings but despite all that it can be regarded as an efficient tool to deter the occurrence of certain crimes. Research studies carried out two decades ago showed that the death penalty did not prevent or influence the occurrence of certain crimes. These research stud ies have refuted by new research that show that capital punishment has a powerful deterrent effect. The study proposes that for every execution carried out, an average of eighteen murders are prevented. With such an effect on crime, capital punishment should not be abolished as it seems to serve as a lesson to all those plotting some heinous crimes. Failing

How To Prevent Tooth Decay

How To Prevent Tooth Decay 1. Introduction Fotek (2012) noted that tooth decay, which is also called dental caries or dental cavities, is a source of infection, causing the loss of mineral salts and devastation of the hard tissues such as enamel, dentin and cementum. It is a result of the bacterial fermentation of the food. If it is untreated, itll lead to pain. Nowadays, tooth decay is remain one of the most popular health problems all over the world. In fact, everyone can easily have problems with tooth decay but children are at the highest risk. Tooth decay has its own long history. University of Illinois (n.d) recommends that over a million years ago, hominid like Australopithecus suffered from cavities. Some evidences found by Archaeologies show that tooth decay is an ancient disease in prehistorically period (University of Illinois n.d). Evidence such as skulls which are excavated through the neolithic period gives signs of caries (University of Illinois). Richards (2002, p.1275) suggests that in South Asia, the growth in caries is related to the rice cultivation. From 5000 BC, Sumerian considered tooth worm as the cause of tooth decay. The proof of this belief has been found in some Asian countries such as India, Egypt, Japan and China (Richards Norman 1990). A report in the NBC News (4 May 2006) revealed that in Pakistan, a 7000-year-old teeth show nearly perfect the holes from primitive dental drills. Thus, this paper, with the purpose to help people know more about tooth decay and learn how to prevent it. 2. Discussion of findings 2.1. The signs and symptoms of tooth decay A recent study by Health Promotion Board shows that : A person experiencing caries may not be aware of the disease. The visual aspect of a chalky white place in the surface of tooth is the earliest mark of a new carious lesion, showing an area of demineralization of enamel (King 2011). As the wound continues to demineralization, it can turn brown but finally will turn into cavity (Clake n.d). In Dental Cavities (2012) continues when the tooth enamel and dentine are destroyed, the tooth decay becomes noticeable, the affected area of tooth also becomes vulnerable. Moreover, once the decay passes through enamel and reach to the nerve of the tooth will result in a toothache. Bad breath and foul tastes are also the consequences of dental caries (Clake n.d). 2.2. Causes of tooth decay There are four main reasons for tooth decay organization: teeth, bacteria, fermentable carbohydrates and time. Smith, B. Pickard, H. M. (1990) states that the caries process does not have an unavoidable result and different people will have different degrees basing on the form of their teeth, oral hygiene habits, and the content of their saliva. The first reason that Neville (2002, p.89) stated is that teeth are affected by many diseases that can leave an individual at a great risk for caries. He also said that Amelogenesis imperfect, which occurs between 1 in 718 and 1 in 1,400 individuals, is a disease that the enamel does not form in full or forms in deficient amounts that can fall off a tooth. Therefore, teeth may be more vulnerable because the enamel is not able to protect the tooth in both cases (Neville, p.94). The cause of tooth decay by disease affecting the teeth is not the main reason in almost people. Cate (1998, p.1) indicated that: Ninety-six percent of tooth enamel is composed of minerals and when let out to the acidic environment, these minerals will become soluble. Once root surface of teeth are exposed, cavities can develop easily even in a healthy oral environment. Moving on to the next point, bacteria are present in mouth to change over the sugars and amylum into acids (Priya Johnson 2012). A substance called plaque in the mouth is the combination of bacteria, acid and saliva (Johnson 2012). This compound is sticky and cling itself to the teeth, especially on the surface of grinders and at the edges of teeth fillings (Johnson 2012). Plaque compile within 20 minutes after eating, the time when most bacteria action starts (Johnson 2012). In addition, the more food is consumed, the more plaque is formed (Johnson 2012). The third reason referred to the fermentable carbohydrates. Bacteria in a persons mouth convert glucose, fructose into acids like lactic acid via a process called fermentation, when contacting with the tooth, these may cause demineralization (Neville 2002). Fluoride toothpaste can help demineralization (Silverstone 1983). An amount of mineral content may be lost if demineralization keeps continuing so that forming a hole (Madigan Martinko p.705). The impact like sugars has on the process of tooth decay named carcinogenicity (Madigan Martinko p.705). According to British Nutrition Foundation (2004), the oftenness that teeth are exposed to acidic environments affected the likeliness of caries evolution. UCLASD (2006) suggested that after meals, the bacteria in the mouth metabolize sugar that decreases pHs As time goes by, the pH returns normal due to the capacity of saliva and the faded mineral content of tooth surface (UCLASD 2006). During every exposure to the acidic environment, part of inorganic mineral content at the teeth surface can remain dissolved for 2 hours (UCLASD 2006). If the diet is rich in carbohydrates, the carious process can start within days of the tooth erupting into the mouth (UCLASD 2006). Summit (2001, p.75) suggests that the introduction of fluoride treatments can slow down the process. Proximal caries take four years to pass through enamel in permanent teeth because the cementum enclosing the root surface is not as long-lasting as the enamel, root caries attended to progress more rapidly than on other sur faces (Summit 2001). 2.3. How to prevent tooth decay? Everyone wishes they had beautiful teeth but they do not know how to protect their teeth. Keeping cleaning outside and inside teeth is essential for long-lasting look as well as tooth strength. Oral hygiene is one of the most important methods to prevent dental caries. Personal oral hygiene care compounds of brushing and flossing everyday (Nguyen 2011). He also suggests that in order to prevent dental caries, people need to brush teeth after every meal. Besides, brush teeth regularly in the morning and evening, or at least once a day after dinner. Brush teeth with a soft bristle brush, brush inside, outside and chewing surfaces (Nguyen 2011). Using toothpaste contained fluoride, drinking water or salt to supplement fluoride can reduce 30% of dental caries (Nguyen 2011). Beside oral hygiene, a report in the Helium (2011) revealed that everyone should have the dentist checked every 6 months. If the plaque is found building up between your teeth, note what the dentist says. Listening to what the dentists said can also help to lessen the appearance of plaque. Finally, dietary alteration also helps people to prevent tooth decay. For dental health, the amount of sugar that is taken in is more important than the amount of sugar used up (British Nutrition Foundation, 2004). Hence, the recommendation of minimizing snacking is brought out because snacking produces a supply of nutrition for acid-producing in the mouth. For children, the American Dental Association and the European Academy of Paediatric Dentistry suggest to reduce the oftenness of drinks with sugar. And not giving baby bottles to babies when they sleep. The guideline of Clinical Affairs Committee (2012) is also recommended mothers not to share utensils and cups with their babies to prevent transmitting bacteria from mothers mouth. 2.4. Tooth decay in Vietnam As stated in Dan tri (2012), with the parents, the smile of children are always the precious things. However, they do not care much about their childrens teeth or many false views lead to some unpredicted consequences. Parents often think that it is too soon to teach their children how to protect the teeth, and baby teeth will be replaced by permanent teeth; its time for children to brush teeth two times a day to avoid tooth decay. In fact, it is extremely wrong if children have tooth decay in the period of baby teeth, they will at risk of tooth decay in adulthood. Currently, according to the Vietnamese Smile Protection Program (2012), about 85% of children aged 6 to 8 suffered from tooth decay; 60 90% of children have gingivitis. Not as romantic as the fairy tales that the tooth fairy would make the tooth disappears, they also emphasized that if not treated; tooth decay will lead to pancreatitis and cause pain. There are many reasons for the alarming number of childrens oral health, including the lack of parental attention to this issue. Parents accidentally support the childrens bad habits such as improper brushing, eating too much sweet. Oral health status was at risk. According to Hanoi Medical University, up to 90.4% of children were examined with plaque. According to this statistics, tooth decay in ages of 6-8 is 84.9%, permanent caries at ages of 9-11 is 54.6%. This has become the common concern not only of the society but also the dental experts who know most about dental problems as well as the importance of teeth for the development of children. As the result, children need dental care as soon as the appearance of the first tooth, also maintain proper brushing habits will help children learn how to take care of their tooth.

Industry and Corporate Risk :: essays research papers

Introduction Organizations today face several business risks that can have an effect on their financial statements. The audit risk model is a tool that auditors use to help identify those risks. To better understand how the audit risk model can help identify risks, we will examine how the model can be applied to the Coca-Cola Corporation and the limitations of using the model. Components of the Model The audit risk model is composed of the equation, audit risk (AR) equals inherent risk (IR) times control risk (CR) times detection risk (DR). Audit risk is the risk that the auditor may fail to modify their opinion on misstatements in the financial statements. Inherent risk is the risk of an assertion being made on material misstatements, assuming that there is no problem with related internal controls. Control risk is the risk that material misstatements could occur in an assertion that are not detected or prevented by the existing internal controls. Detection risk is the risk that the auditor will not detect a material misstatement in the assertion (Messier, 2003, pg. 94). In the process of assessing the auditee risk, the auditor must determine the entity’s business risk. This can be done by evaluating the nature of the entity, industry, regulatory, and other external factors, management, governance, objective and strategies, measurement and performance, and business processes (Messier, 2003, pg. 98). Examples of possible business risks can be found in the Coca-Cola Corporation. Coca-Cola faces different regulatory practices since it has operations in countries outside of the United States. These operations include North America, Africa, Asia, Europe, Eurasia, and Middle East, and Latin America. Another business risk for Coca-Cola is that the nature of the business can be seasonal. The demand for the product can fluctuate from one location to another and may fluctuate over time within a single location. Coca-Cola also acquired ownership or licensing rights to products in Croatia, Argentina, Mexico, and Bahrain in 2004, which create new business risks. The company also uses two different units of measurement to figure sales. The measurements are gallons and cases of finished products. The difference in measurement can cause errors in measurement, therefore possibly creating another business risk (Coca-Cola, March 4, 2005, pg. 2, 4). Applying the Model The use of the audit risk model should be applied at the account balance or class of transaction level. There are three steps to applying the model, the steps include setting a planned level of audit risk, determining inherent and control risk, and solving the risk equation in order to determine the appropriate level of detection risk (Messier, 2003, pg.