International Taxation Rules on International Companies Essay

International Taxation Rules on International Companies - Essay Example The OEEC was later rearranged into the Organization for Economic Cooperation and Development (OECD) in 1961. Today, the OECD is made up of thirty countries that accept the principals of free market economy and representative democracy (Owens, 2008). Most OECD countries are developed countries, with high-income countries. Some of its members include France, United Kingdom, United States, Denmark, Finland, Spain, Sweden, Italy, Japan, among others. The functions of the OECD are multifaceted. But for the purposes of this discussion, it is only imperative to mention that, OECD functions as an intergovernmental organization which aims at coordinating economic development of members as well as non-member nations through trade liberalization, multilateral trade, and economic reform. The organization also covers economic and scientific research, technology transfer, international terrorism, and economic and statistical information (OECD, 2007). As much as the OECD would want to come up with proper legislation and... For example, most developed nations have zero or low taxes for certain types of groups. As such, the organization has found itself leaning more on international taxation rules in its operations. This is because many corporations may have interests in several countries that employ different tax regimes (Doenberg & Hinnekens, 1998). A good example would be the Multinational corporations, which must employ the services of an international tax specialist to decrease the global tax liabilities. Tax laws from different countries around the world affect companies and individuals with assets and income in more than one nation differently. Tax laws vary in different nations as to what income is taxable and how it is measured, who or which entity is taxable, when deductions are allowed and income is taxed, what deductions are allowed from the taxable income and the tax rates. These variations, if not well controlled may bring a scenario where the same income of an international company is taxed by different countries (Larkins, 2004). This is better known as double taxation. As such, there is need for international tax planning to take care of the loopholes occasioned by the above named variations among countries. How then must international companies be taxed rationally The concept of international tax planning and law has gained considerable attention from the perspective of tax authorities as well as from the taxpayers. The OECD has played an active role in the creation of international tax rules to help businesses move away from double taxation, intractable disputes, and uncertainty (Owens, 2008). According to Mr. Jeffrey Owens, a director of OECD in tax policy administration, improper tax rules can discourage international activity, discourage investment, and

Total Environments, Health, and Safety Management Research Paper

Total Environments, Health, and Safety Management - Research Paper Example Employees who are working on the construction site are subjected to a constant change in their nature of work, mix of workers and location of work. In view of most of the people, construction industry has most risky working environment as compared to other industries (Broadbent, 2004). In case of construction industry, the concept of safety culture is relatively a naà ¯ve concept. However, in recent past this concept has gained popularity due to its unique ability of accepting all the psychological, behavioural, perceptional and managerial factors. Multitasking and paying attention to more than one tasks (professional or non professional) at a time result in accidents. While employees are performing their duties without wearing their protective equipments or just talking on their cell phone, they place themselves at risk just only to make themselves comfortable or to save time. In short, in construction industry most of the accidents occur not due to the lack of skill, training and knowledge but are related to relatively poor decision making skills (Cooper and Phillips, 2004). Management, starting from the individuals, who are occupying the highest position in hierarchical order, all the way through the low level management (leaders, superintendents, supervisors etc.), and all the way down to the people working in production area must engage themselves in the combine efforts to systematically reduce or eradicate the chances of being exposed to any of the hazardous condition or situation. An effective and successful safety culture has following elements: By developing and managing the process of safety in a more effective manner, any organization can reduce the chances of injuries, increase the awareness among workers about safety, can increase overall productivity and also raise the morale of the workers. In order to check compliance, the

Behavior problems in Adolescents with Learning Disabilities Essay

Behavior problems in Adolescents with Learning Disabilities - Essay Example The presence of behavior problems among children with various forms of learning disabilities is not so hard to imagine, given the challenges they are faced to compete in a learning environment with their disability. Therefore, many of the children may feel less intelligent when comparing to their peers in various areas of educational performance. These problems may present as external as well as internal behaviors, and without proper addressing of these, the child may grow up as an individual with multiple behavior problems. (Johnson, nd) One of the complications in the correct delivery of education to such children is the variety of disorders that are present within the context of learning disabilities. The lack of proper teaching skills and inability of the child to cope may lead to uninterested behavior among the children and consequently, poorer performance may lead to further reduction of the motivation of the child to perform academically. (Lee and Donald, 2003) Such problems are especially hard to address among the adolescent and teenage groups, who are already vulnerable during their transition phase from childhood to adulthood. This firstly clarifies that learning disabilities are not only a challenge that children of younger age groups face with. Adults and adolescents also face the same problems and some may go undiagnosed for a long time. (Revisiting Learning Problems and Learning Disabilities, 2002) Also, the severity of the learning disorder must also identify along with the type, so that the person is educated with the right strategies to help cope with and overcome his or her learning difficulties. (Revisiting Learning Problems and Learning Disabilities, 2002)The external features of these learning disorders are usually found as attention deficit hyperactivity disorder or ADHD, oppositional defiant disorder or ODD and conduct disorder or CD. Internal features may present as depression and anxiety

1860 Presidential Election Essay Example for Free

1860 Presidential Election Essay Every four years, each presidential candidate proclaims that the problems facing the nation this year is graver and more important than any other time in American history. The 1860 Presidential election stands alone as the most important presidential election in American history because this actually was the case. There have been other elections that have been important. If Wendell Wilkie had beaten Franklin Roosevelt in the 1940 election or if Al Gore had beaten George W. Bush in the 2000 election, this world may have been very different. But that probability was brought to the light months or years after the election was over. The chief difference with the 1860 election was that the country knew that the nomination of each candidate along with who would be elected would have immediate and then long term results for the country. The 1860 presidential election saw four distinct candidates, all trying for the most important office in the land at our most important time. Abraham Lincoln, a Republican from Illinois, his rival for the 1856 senate race, Stephen A. Douglas representing the Northern Democrats and also from Illinois, John Bell, a Constitutional Unionist and John Breckenridge a Southern Democrat were all in the race. The fact that the Democrats had split over the issue of slavery, forcing members to walk out of two Democrat conventions forced the party to have to send two different candidates and thus, increase the chances that the election would go to Lincoln.   The nomination of Abraham Lincoln for the Republican ticket was unsure from the start and even Lincoln assured himself that he would lose. In the bestselling book Team of Rivals, Doris Kearns Goodwin details in fascinating fashion, the list of more qualified, more educated and possessing more resources, fought for their nomination for president. But Lincoln was chosen because he was a moderate on the number one issue of the day: slavery.† I have no purpose, directly or indirectly, to interfere with slavery in the States where it exists, said Lincoln early in the conflict.[1] Seward and Chase, two of the others who brought competition to the field, were seen as either too radical or apathetic towards the issue of slavery and made their displeasure known. While Seward was taking a European tour, Lincoln was meeting and greeting the people. His attendance and speech at New York’s Cooper Union in 1860, solidified him as a man of the people. The Democratic Nomination was complicated as well. The Democratic Party was split over the issue of slavery in the same way the country was. At their convention in April of 1860, fifty Democrats walked out to form their own faction of the party.[2] John Breckenridge was nominated by the Southern Democrats and Stephen A. Douglass was nominated by the Northern Democrats. The Democrats met again on June 18 and this time 100 delegates walked out and would not adopt a resolution supporting slavery in the territories. The Northern Democrats nominated for their candidate Stephen A. Douglass, Senator from Illinois. Douglass had been involved in the famous Lincoln Douglass Debates for the senate. In this senate race, Douglass won but in the process, alienated the South by saying that popular sovereignty could prevent slavery from being enacted in the new territories. The South remembered this and would make sure that his answer would come back to haunt him in the election. This was a chief motivating factor which caused the split within the Democratic Party, thus giving an advantage to the Republican Party which took advantage of such factions. For years, Democrats had united behind the doctrine of popular sovereignty. It was this fact which helped Douglas get elected to the senate in the 1858 debates with Abraham Lincoln. The idea behind this was that slavery within a new territory was up the majority of people within that state. Popular Sovereignty also promised to keep the future of slavery out of the hands of the politicians in Washington as they were distrusted for the most part by the people within the slave states. On the surface, the idea seemed to be a sound and practical compromise to the threat of a civil war. Most Northern Democrats assumed that slavery would not be allowed to spread into the West due to natural impediments. The climate, terrain and the swift movement of Free State settlers into the West would discourage slaveholders from entering the territories. While Southerners demanded that the Democratic Party come out with a platform that defended slavery, Douglas and his supporters could not agree. Despite the fact that the convention went through 54 ballots, Douglas failed to achieve the needed 2/3 vote to receive the nomination of a single Democratic party. However, once the Southern Democrats walked out of the convention, Douglas did receive the needed 2/3 vote from the delegates that were present.[3] Only then was did he receive the nomination of the Northern Democrats. It was a hollow victory. However, his nomination resulted in the splitting of his party and another candidate would only help to confuse the issue as well as spread out the limited number of electoral votes available. The Republicans, after seeing the problems that had been caused within the Democrats, saw this as an opportunity that they could use to their advantage. They were confident, going into their convention in Chicago, that they had a real chance of winning.   The only question was who was going to be nominated. William Seward was considered the front runner.   He was more established, had a classical education, the money and proper connections that prompted the party bosses, at first, to consider him a viable candidate for the nomination. But this all changed at the convention. Alienated factions seemed to arise and served as an unmistakable impediment for Seward and his hopes of becoming the Republican nomination for the 1860 Presidential election: an occurrence which seemed like a foregone conclusion just six months earlier. Delegates were concerned that Seward was too closely identified with the radical wing of the party. Also, Seward, being deeply religious, saw the issue of slavery as an issue that was above that of the Constitution as he called for a higher law to dictate the end of slavery. 19th century America was a deeply religious age but such beliefs seemed to pull him to the right of center in this regard. â€Å"Over the years, his angry phrases calling upon a ‘higher law’ than that of the Constitution that had come from men of freedom†¦ had alarmed Republicans moderates in the West. This only proved that Lincoln was the man to elect.†[4]Compared to Seward, Lincoln had more of a chance to help avoid a civil war as he was seen as more of a moderate within the Republican Party on many issues that were troubling the country and the Southern states at this time. But this did not being much comfort to the Southern States because the main position that the Republican Party he ld on slavery was not in doubt. The key to the success of the Republican Party was its position on slavery as well as the fact that the Democrats were now split. The Republican Party opposed the expansion of slavery and many within the party condemned it as an immoral institution. Republicans thought that by limiting its expansion would put slavery on the road to eventual extinction. Even though this stance was made public, the Republican base rejected a more radical stance that would have Southerners associate them with the abolitionist cause. So in this fact, Republicans upheld slavery within the states where it already existed. Also, there was a faction of the party which included Lincoln, which was willing to support a Constitutional amendment that would guarantee slavery forever in the hope that a civil war would be avoided. In this fact, Lincoln’s announcement in September 1862, that he would be issuing an Emancipation Proclamation, came to the shock of his cabinet because it was contrary to what the platform of the Republican Party during the 1860 election.[5] Republicans would be willing to compromise a great deal with regard to the issue of slavery in order to avoid a civil war and in the process, distance themselves from the abolitionists who were seen as too radical from both the South and even parts of the North. However, as long as the strong Republican base and their beliefs on slavery served as an impediment and a threat to the South and their protection of slavery, either Lincoln or Seward would have garnished a negative response from the Southern States. Since it was essential to carry the West and because Lincoln had a national reputation from his debates and speeches, most notably, the 1858 debates with Stephen A. Douglass, Lincoln won the party’s nomination. This is true also because Lincoln was seen as a moderate on the issue of slavery. It would not be until the Civil War was well under way when Lincoln became more certain that slavery must not continue. But at this time, Lincoln had said that he would leave slavery alone if it meant that the Union would be saved and a civil war would be avoided. The party platform states that slavery would not be allowed to spread any further. This was heavily unpopular in the South but it was in line with what Lincoln believed. The containment of slavery was the best that the moderates within the Republican Party could hope for while at the same time, avoiding a civil war. Doris Kearns Goodwin, in her book Team of Rivals, spoke to the appeal that Lincoln had among the people and the cha racteristics that helped Lincoln, an unlikely candidate in many ways, secure the nomination. â€Å"Lincoln was aware that being a man of the people was an advantage, especially in the raw Western states critical to the election of a Republican candidate Lincoln was astute enough to capitalize upon this invaluable political asset.†[6]   It was also seen that Lincoln was more of a candidate for the people and on the surface, it did not seem that he was as hungry for the office as the others and therefore, would remain true to his own self instead of saying and doing only what was needed in order to get elected. â€Å"Though Lincoln desired success as fiercely as any of his rivals, he did not allow his quest for office to consume the kindness and open heartedness with which he treated supports and rivals alike, nor alter his steady commitment to the antislavery cause.†[7] These are the characteristics that helped endeared Lincoln as a man of the people. The campaign was an interesting one that garnished a great deal of interest among the country. The turnout from the 1860 election would be one of the highest in history as the country knew all too well, that the results may lead to a civil war. Stephen A. Douglas became the first presidential candidate in history to undertake a nationwide speaking tour; something that is now seen as essential in order to win within contemporary candidates. Douglas traveled to the South even though he did not expect to win many votes. He spoke for the maintenance of the Union and would so until the official start of the Civil War. The 1860 Campaign, despite the presence of four separate candidates was more organized than the 1856 campaign. In 1856, John C. Freemont, the first Republican candidate,   crusaded zealously against slavery and these efforts were then countered with the warnings of civil war. As a result, James Buchanan was elected and did absolutely nothing to either speed up or curtail the threats towards a civil war. What also helped the chances of the Republicans was the 1857 Supreme Court Decision regarding the Dred Scott Case. This resulted in a clear advantage in the 1858 general election which gave a commanding lead to the Republicans. By 1860, every observer could see that the Republicans had an almost unbeatable advantage in the Electoral College as well since they dominated every Northern state. This would come to fruition as the number of popular votes that Douglas got in relation to the number of electoral votes he received was far below that of Lincoln’s. The election was held on November 6, 1860. The notable difference was the exaggerated sectionalism of the vote. In nine southern states, Lincoln’s name did not even appear on any of the ballots. Also, the importance of the Electoral College would be as important as any other election history, second only to the 2000 election. Due to the fact that there were four candidates, it would be unlikely that any one candidate would receive the popular majority. While Lincoln only captured 40% of the vote, the division of the Electoral College allowed him to capture 17 states plus four electoral votes from the state of New Jersey to receive a total of 180 electoral votes and the win. Although the three-way split among the non Republicans complicated the issue, Lincoln would have still won the election because he won the majority of the electoral vote. Lincoln also won a popular majority in every state that cast its electoral votes for Lincoln. He finished the campaign with 1,865,908 vot es. Douglas finished second with 1,380,202 votes but because of the split in the electoral votes throughout the country, he only received twelve electoral votes, far short of the 152 needed to win.[8] He received nine electoral votes from Missouri and three of the seven electoral votes from New Jersey. Bell won Kentucky, Tennessee and Virginia while Breckenridge won every slave state except for Missouri. The result of the 1860 election was almost an immediate one. On December 20, 1860, South Carolina voted to succeed from the country.   The southern states had been waiting for an excuse to break away from the country and the election of Lincoln fit the bill. Stephen A. Douglas threw his support behind Abraham Lincoln and went on a speaking tour to try to stop a civil war from coming. He died in this process in April of 1861 and neither his efforts, nor the efforts of any single man, could stop what the country knew was about to come. With the succession of South Carolina in December 1860. â€Å"Not surprisingly, South Carolina acted first. There is nothing in all the dark caves of human passion so cruel and deadly as the hatred the   South Carolinians profess for the Yankees,[9] With the following of twelve more states, the Civil War had become a foregone conclusion. With the attack on Fort Sumter in April of 1865, despite the only casualty being a Union horse, the Civil War had started and only after four years and 620,000 casualties, did the war finally come to and end as did the institution of slavery within the country forever. The end of the Civil War also led to the assassination of President Lincoln and his Vice President, Andrew Johnson serving as an impediment to the Reconstruction of the South. The 1860 Presidential Election was one of the most important elections in the country’s history. The main difference with this election over others, was that the entire country knew that the outcome of the election had a direct impact on whether or not there would be a civil war, how the civil war would play out and what would be included in peace. Abraham Lincoln, right before the end of the Civil War, said: ‘With malice towards none and charity for all,†[10] in talking about the need for the North and South to come together as one people again. History knows that the people made the right choice that November day in 1860. And all those that are motivated by his speeches and actions are the benefactors of such wisdom and future generations will continue to do the same. WORKS CITED Burns, Ken. 1989.   The Civil War. Boston: PBS Video. Burns, Ken. 1992. The Civil War Companion Book.   Boston: Alfred Knoff Publishers Goodwin, Doris Kearns. 2006. Team of Rivals. New York: Harper Collins McPherson, James. 1998. Battle Cry of Freedom. London: Oxford University Press. [1] McPherson, James. 1998. Battle Cry of Freedom. London: Oxford University Press. [2] Goodwin, Doris Kearns. 2006. Team of Rivals. New York: Harper Collins p. 142. [3] Goodwin, Doris Kearns. 2006. Team of Rivals. New York: Harper Collins p. 167 [4] Goodwin, Doris Kearns. 2006. Team of Rivals. New York: Harper Collins [5] Burns, Ken. 1989.   The Civil War. Boston: PBS Video. [6] Goodwin, Doris Kearns. 2006. Team of Rivals. New York: Harper Collins [7] Goodwin, Doris Kearns. 2006. Team of Rivals. New York: Harper Collins p. 178. [8] Burns, Ken. 1992. The Civil War Companion Book.   New York: Alfred Knoff Publishers [9] McPherson, James. 1998. Battle Cry of Freedom. London: Oxford University Press. P.641 [10] Burns, Ken. 1992. The Civil War Companion Book.   Boston: Alfred Knoff Publishers p. 321

Removal of Imperfections in the Market Impact

Removal of Imperfections in the Market Impact Assignment question The removal of imperfections in the market leads to an increase in efficiency in the allocation of resources. Discuss whether you agree with this view. (25 Marks) Explain what is meant by normal and abnormal profit and when such profits might occur (12 marks) Discuss the three reasons as to why people demand money, according to the liquidity preference theory. (13 marks) Table of Contents (Jump to) Assignment question List of figures QUESTION 1: The removal of imperfections in the market leads to an increase in efficiency in the allocation of resources. Discuss whether you agree with this view. QUESTION 2: Explain what is meant by normal and abnormal profit and when such profits might occur. QUESTION 3: Discuss the three reasons as to why people demand money, according to liquidity preference theory. References List of figures Figure 1: A perfect competition diagram. Figure 2: Normal profit in a perfect competition and in monopoly market. Figure 3: Abnormal profit in a perfect competition and a monopoly market. Figure 4: Combination of Transactionary , precautionary , speculative demand forming the liquidity preference graph QUESTION 1: The removal of imperfections in the market leads to an increase in efficiency in the allocation of resources. Discuss whether you agree with this view. Efficiency is about how effectively the resources such as time and materials are used to produce an end result. In economic terms, it is concerned with the relationship between scarce inputs and outputs. Different forms of efficiency need to be considered. Allocative efficiency is achieved upon good resource allocation; when no one can be made better off without making someone else worse off. It occurs when the value the consumer puts on a good or service is the same as the cost of the resources used in producing it. The main condition required for allocative efficiency in a given market is that the market price is equal to the marginal cost of supply.Total economic welfare is capitalized in this stance.[1] Productive efficiency strikes in the lead of the lowest production cost against a minimal wastage of resources. A minimal long run unit cost of production leads to productive efficiency also. Dynamic efficiency focuses on changes in the options undertaken in a market together with the quality/performance of products ought to be bought. Economists often link dynamic efficiency with the pace of innovation in a market. In figure 1, at the output Ot, where the Marginal cost (MC) = Marginal revenue (MR) for the firm, the allocative efficiency exists since the firm’s price (P) isthe marginal revenue (that is, it is able to sell any amount at the unchanged price where each extra unit sold at that price provides the marginal revenue), so MC = P. In fact, at that point more equalities subsist, for instance when MC = P= MR = AR. This means clearly to make use of the least resources possible. In turn, the minimum average cost = the bottom of the AC curve. Hence, this proves that both productive and allocative efficiency are potential occurrences in the long run only under perfect competition.[2] Inequity may still prevails in a country despite encompassing allocative efficiencyandproductive efficiency. This negates the odds perfection. Figure 1: A perfect competition diagram. In Figure 2, Imperfect competitions like monopolistic competition, monopoly and oligopoly, when producing profit maximising output, that is where MR=MC, the firm is not at its productive efficient output. That is, there is no productive efficiency since AC is not minimum. Neither is there allocative efficiency since MC is below price. Figure 2: An imperfect competition diagram The market economy and market system (price mechanism) will normally lead to efficiency in terms of lowest cost, minimum price, innovation and quality products (reliable). Efficiency should increase and markets shall boom their performance with the elimination of imperfections. However, removing all imperfections is virtually impossible due to the existence of market failures. The Market mechanism and the price mechanism do not apportion resources efficiently. Unfortunately for markets to achieve efficiency, a few conditions must be satisfied: the market must be competitive with no benefits or costs external to the market and the market buyers and sellers must be aware of all the information concerning prices and alternatives. This is however impractical to achieve and leads to market failure.[3] Market failure is a situation in the free Market system that foils the most efficient allocation of economic resources; For example when a market having being left on its own has failed to allocate resources efficiently in the case of freely-functioning markets operating without government intervention. Therefore, economic efficiency welfare cannot be maximized. This leads to a loss of economic efficiency. The government policy interventions are able to potentially remedy the problem and increase economic efficiency in case of market failure. This can also cause an inefficient allocation of resources. Market failure is a situationwhere the free market fails to pull off an optimum allocation ofresources which is possibly the outcome of market imperfections, externalities and public goods and merit goods.[4]  Market imperfection describes a situation in which the market behaviourdiffers from what it would be under perfect competition. A monopoly oran oligopoly may control the market and prevent other firms fromentering the market, restricting supply, the monopoly and oligopoly firm may be able to fix higher prices than they would be under a freemarket.In imperfect competition, there is likely to be market failure since firms who dominate their markets will attempt to charge high prices in order to make greater profit. An externality exists if a benefit is not included in the demand price or a cost is not included in the supply price. As such, market equilibrium does not achieve an efficient allocation. Positive externalities exist where a society acquires more than the producer. The latter thus produces less than the optimal social amount. Examples are health and education. Examples of negative externalities are smoking and alcohol consumption. Government interventions are vital to adjust or counteract market failure scenarios caused by negative externalities. The government opts to tax those producing in excess. Legal help also is sought in some instances. Despite that market failures can be fixed, Governments are also imperfect since their interventions are also occasionally unable to warranty a remedy or provide an efficient allocation of resources. [5] Even when the market appears to be working perfectly, we can have a problem with some goods. These are the public goods which are collectively consumed and the market may simply not supply them (e.g. street lighting) and the merit goods which areprovided by the market but in smaller amounts than are needed for the good of the state. Health and education are the most obvious ones. These may all be supplied in the â€Å"wrong† amounts, or even not supplied at all. When this occurs, it renders the market system inefficient and it is failing in this area. The free market system is able to allocate scarce economic resourcesefficiently if private costs are the same as social costs, and privatebenefits are the same as social benefits. But in the most cases, theyare not the same. It is then argued that the price mechanism fails totake into account social cost and social benefits, and therefore failsin its role to allocate resources to their optimum use. Market failureis the result of a sub optimal allocation of resources in a country. The market can fail also because of factor immobility (land, labour and capital) and the distribution of wealth and income. Increasing economies of scale may push all producers out of a market if none can charge enough to cover costs. In that case, production ceases even if it benefits society. Hence, markets fail under increasing economies of scale.[6] Hence, it can be said that the removal of imperfections do lead to an increase in efficiency in the allocation of resources. One can try to achieve this concept but can only approach close to perfection and cannot remove all the imperfections in a market system. A market where efficiency is achieved in terms of lowest cost, minimum price, innovation and quality products (reliable) is difficult to obtained and there will always exists some degree of imperfections. QUESTION 2: Explain what is meant by normal and abnormal profit and when such profits might occur. The difference between the Total Cost (TC) and Total Revenue (TR) amounts to the profit of a firm. The payment to factors of production makes up the TC. The sales of the finished good breed the TR. When TR exceeds TC, the firm makes a profit termed in economic theory supernormal or abnormal profit (ANP). When the TR is less than TC, the firm is subject to a loss termed as a sub-normal profit. When TR equals to TC, then the firm makes normal profit (NP).[7] The NP is the minimum level of profit to keep factors in their present employment. It is also equal to the opportunity cost of being in business; the profit that could have been reaped in the next alternative business. Figure 2 illustrates respectively firms in a perfect competition and a monopoly market situation earning only NP: Figure 3: Normal profit in a perfect competition and in monopoly market. The ANP is the profit in excess of NP. It is called producer’s surplus. Diagram 3 and 4 illustrates ANP in a perfect competition and a monopoly market: Figure 4: Abnormal profit in a perfect competition and a monopoly market. The principle characteristic factor between NP and ANP is that the former is the minimum requirement for factors to stay in their present employment. It also aims to competitive market situations: perfect competition and monopolistic competition. ANP points to non-competitive situations: monopoly and oligopoly. It is in fact the compensation for entrepreneur initiative and creativity. In the short-run, both types of profits transpire in any market structure – perfect competition; monopolistic competition, oligopoly or monopoly. However, in the long-run, ANP can arise only in monopoly and oligopoly due to barriers to entry. Firms in perfect competition and monopolistic competition can make only normal profits in the long run again due to the freedom to entry.[8] QUESTION 3: Discuss the three reasons as to why people demand money, according to liquidity preference theory. One can use the theory of Keynesian Liquidity Preference to answer the determinants of the demand for money. The demand for money signifies the demand for money to expend. It is money to be exploited for the immediate exchange of goods and services. The common man demands money to pay one’s daily purchases of goods and services. The daily cash transactions for a person are expected to depend on the size of one’s money income and on institutional arrangements such as the sum remunerated or the bills to be paid. Institutional arrangements have a propensity to remain unaltered. It is thus anticipated that the total demand for money for transaction purposes to depend directly on money national income.[9] Economists spot three motives to clutch money: the transaction motive, the precautionary motive and the asset (speculative) motive. The transaction demand (Tm ) for money is perfectly interest inelastic, that is, it is not responsive to interest rate changes. Whether the interest rate changes, the amount of money a person, household, firm or country holds for transactions will remain more or less unchanged, assuming income and other variables remain constant. Hence, the graph of the demand for money for transactional purpose against the quantity of money demanded is a vertical straight line.[10] The second reason is the precautionary motive. Money is here required to meet one’s unexpected expenditures. The money demanded for precautionary motive also tends to depend on the level of income, as in the case of the transactions demand. Similarly, the precautionary demand (Pm) is also interest inelastic and a vertical straight line graph. The third reason is called the speculative demand for money. Usually the amount of money in existence is more than the sum called for transactionary and precautionary purposes. The excess must be held by someone somewhere. ‘People hold â€Å"idle† cash balances?’- Keynes challenged that it is for tentative purposes. This means being constantly in possession of a stash of cash to create profit at any given opportunity. For instance, it may be lucrative to buy shares or government securities (bonds) if someone is geared up with cash at the given instant. The speculative demand for money is inversely related to interest rate and is elastic. [11] This demand for money will budge according to people’s speculation based on expectations. Secondly, it depends on business optimum. If speculators expect assets price to collapse, the demand of money will augment. Entrepreneurs will demand more money to invest in case of fruitful business. Together the three motives make up the total demand for money in a country, called the liquidity preference (LP). The diagram below illustrates the concept of each motive in a graphical way. Figure 5: Combination of Transactionary, precautionary and speculative demand forming the liquidity preference graph References Anderston, A., 2008. Economics. fifth ed. s.l.:Graficas Estella, Navarra Spain. Anderton, A., 2000. Economics. third ed. s.l.:Causeway Press Limited. Anon., 2013. Short Run And Long Run Profits Trends Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/short-run-and-long-run-profits-trends-economics-essay.php?cref=1 [Accessed 26 March 2015]. Anon., 2013. Theories Of Demand For Money And Empirical Works Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/theories-of-demand-for-money-and-empirical-works-economics-essay.php?cref=1 [Accessed 24 March 2015]. Anon., 2013. What Is Market Failure And Its Causes Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/what-is-market-failure-and-its-causes-economics-essay.php?cref=1 [Accessed 24 March 2015]. Anon., n.d. Profit. [Online] Available at: http://www.economicsonline.co.uk/Business_economics/Profits.html [Accessed 18 March 2015]. Anon., n.d. MARKET FAILURES. [Online] Available at: http://www.AmosWEB.com [Accessed 19 March 2015]. Bà ¦kkeskov, E., 2013. Market failure. [Online] Available at: http://www.britannica.com/EBchecked/topic/1937869/market-failure [Accessed 07 March 2015]. Bamford, C. et al., 2006. AS Level and A level Economics. s.l.:University of Cambridge. Grant, S. Stanlake, G., 2006. Stanlakes Introductory Economics. SJ Grant ed. s.l.:Pearson Education Limited. Lipsey, R. G. Hardbury, c., 2006. First Principles of Economics. second ed. s.l.:Oxford University Press. Vernon, R. Louis T. Wells, J., 1991. The economic environment of international business. fifth ed. s.l.:Englewood Cliffs, NJ : Prentice Hall. Ward, D. B. a. D., n.d. Economics for business. s.l.:Mc Graw-Hill Higher Education. [1] Anderton, A., 2000. Economics. third ed. s.l.:Causeway Press Limited. [2] Lipsey, R. G. Hardbury, c., 2006. First Principles of Economics. second ed. s.l.:Oxford University Press. [3] Anon., n.d. MARKET FAILURES. [Online] Available at: http://www.AmosWEB.com [Accessed 19 March 2015]. [4] Anon., 2013. 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Christianity And The Just War Theory Essay -- essays research papers

Does the Just War Theory provide sufficient moral justification for Christians’ involvement in war? The Just War Theory is a set of criteria that are used to judge whether a war is morally justifiable. It was St Augustine in the third century that formulated the Just War theory, and was formalised 10 centuries later by Thomas Aquinas. There are seven criteria by which a war can be judged to be just. Among the rules are Just Cause – there must be a very good reason for going to war, such as protecting your country from invasion. There should be a formal declaration of war by the legal government. It has to be the last resort and all other alternatives must be exhausted. There must be a reasonable chance of success and great care must be taken to avoid injuring civilians. The Just War Theory is still believed today to be the only way that Christians can morally justify war and is often referred to by leaders of Christian countries when they make claims to be fighting a just war. There is widespread ignorance of the details of Just War but there is also much room for different interpretations of the criteria. I personally feel that it depends on each individual situation as one set of rules are not always applicable to all circumstances. In some situations, the causes may seem to be just but not according to the just war theory. A war can only be judged to be just if the criteria are met – not if those involved try very hard to meet them. The aim of the just war is to provid...

Oscar Wilde and the Aestheticism Movement Essay

The arts in addition to crafts movement was the main clause of reform design in the 19th century that describes the era of its greatest advancement, roughly between 1870 and 1920 (Campbell, 2006). The two major stylistic advancements of this movement’s philosophy are the Aesthetic Movement and Art Nouveau. Aesthetic Movement of the 19th century, according to Lambourne, (1996) is a movement that existed in the 1870s to 1880s, which made itself noticeable through the fine in addition to decorative arts and architecture in both Britain and the United States. Its influence in Europe was so great that it is had to describe. In response to what was perceived as evidence of philistinism in art and design, it was typified by the cult of beauty and as well an emphasis on the sheer pressure to de obtained from it (Lambourne, 1996). Championing of the aesthetic movement was done by the writers and critics Oscar Wilde (1854-1900), Walter Patel (1839-94), and Charles Swinburne (1837-1909) (Campbell, 2006). These artists in conjunction with craftsmen of aesthetic movement sought to lift up the form of furniture, ceramics, wall papers, books, glass, textile and metalwork to the level of fine art. They tended to hold that Arts should offer purified sumptuous pleasure instead of conveying moral over-romantic messages. He was concerned with the impact of moralizing on art as a result of his view of art as a separate form of life (Gere and Hoskins, 2000). Wilde, in particular, did not agree to Ruskin and Arnold’s utilitarian view of art as something moral or helpful. He believed that art did not play educational role; it only needed to make beautiful statements. He argued that beauty is the only thing that cannot harm (Raby, 1988). Just like other aesthetes, Wilde denied the social value of literature and art. Wilde stated that the most important things in life are autonomy from moral fetters as well as the limitations of society (McDermott, 2007). Wilde was deeply concerned with the soul of man. This made him to constantly complain about poverty in is his work. Wilde, as McDermott, (2007) asserts, argued that the life of an artist is more important than any form of art that he/she develops He also noted that life itself is an art and that true artists present their lives as their finest productions (Raby, 1988). Wilde had used aesthetic decorations throughout his youth. He had devoted so evidently and uncompromisingly to living his art. He considered his own life as a form of art (Raby, 1988). Wilde together with other aesthetes established the cult of beauty, which they regarded as the principle factor in art. They took nature as rough and deficient in design when compared to art. They adopted the principle of art for arts sake and established art over everything else. Wilde, as Raby (1988) argues, set out to widen this principle to that of life for the sake of art. In oxford as indicated by Campbell (2006), Wilde astonished the religious dons with his inappropriate approach towards religion. He was also heckled at his weird clothes. The use of peacock feathers in addition to blue and white china typified the aesthetic interiors. Wilde gathered blue China as well as peacock feathers, which he decorated his room with and later on his velvet knee-breeches which attracted much attention. Wilde worked as a reviewer of art and conducted lecturers in the U. S and Canada (Raby, 1988). He had a luxurious taste for everything and, after conducting a series of lectures his listeners changed to a new set of standards for designing their homes (Lambourne, 1996). The amalgamation of Wilde’s exposure through the famous media in addition to the wealth of specialist furnishing as well as beautifying manuals assisted in simulating the public in the novel style. Manufacturers were also quick to take up the new trends in decorative styles (McDermott, 2007). Wilde created a series of discussions as well as essays that advanced his view on the supremacy of art. His views concerning art were basically chatty and positive. Wilde published lyrics along with poems in magazines from the time when he entered college. He included serious articles on parenting, politics and culture to his dialogues of fashion and arts. Wilde typified, through his own words, the response against the rudimentary primaries of a doubtless more reputable but definitely less cultivated era (McDermott, 2007). Most of Wilde’s work conformed to aesthetic principles. It revealed an over balance of curiosity in both subject and styles, and a response to the restriction of outward practical things (Gere and Hoskins, 2000). Philosophy of Esthetic Movement, as stated by Lambourne, (1996) was spread to the United States by William Morris. Wilde, as stated by Raby (1988), made a lecture tour of the United States in 1882. Despite the fact that he satirized for his effeteness and pomposity he increased awareness of the Aesthetic Movement. The highest profile figure of Aesthetic Movement was Oscar Wilde; he gave approval to himself as the center of an aesthetic experience that was to some extent exaggerated, absolutely exclusive as well as completely dedicated to the pursuit of art and beauty (Raby, 1988). Wilde was the spokesman for Aesthetic Movement through his excellent humor and conscious posing. He made himself a convenient vehicle through which the Aesthetic Movement was extensively advertised (Campbell, 2006). Wilde had an unwavering faith in his mission. He clearly stated that he had no fears regarding the future (Raby, 1988). Gere and Hoskins (2000) states that through Wilde’s presentation, aestheticism developed to a cult of artificiality. The popular plays produced by Wilde, according to Spektor (2009), were comedies of conduct that were closer to Restoration comedies than the Victorian plays. Until the time he was tried Wilde carried the Aesthetic Movement as an excellent performance piece, an approach that was supported by the British society, due to the fact that he never seemed to take himself too seriously. Wilde the aesthete introduced an experience for continental values and finally what Victorian society basically held to be continental profligacy (Raby, 1988). Much early criticism of aestheticism summed up the conventional Victorian move of calling Aesthetic Movement dissolute; both for its stress on art as an unethical venture and for its inflections of homosexuality (Spektor, 2009). Contemporary critics have tried to contextualize the aesthetic movement by considering literary, social, as well as artistic movements that resulted in aesthesis along with those that were later influenced by it. In the process, they have a propensity of primarily looking at its representations of sexuality and gender instead of on the form and qualities of the art under discussion. Paradoxically, the modern criticism almost at all times put both art as well as homosexuality back into the Victorian culture. This explains how cultural stance of aestheticism and its approaches about sexuality and gender were determined by the principles of the larger Victorian society (McDermott, 2007). Lambourne (1996) states that Wilde became one of the most celebrated playwrights of the late Victorian phase in Britain with a series of social satires. Wilde claimed to have taken a firm position in symbolic relation to the art and culture of the 19th century. Actually he manifested the conclusion of the novel sensibility which surfaced through the second half of the 19th century (Lambourne, 1996). Without Wilde the Aesthetic Movement of the 1880s and the Decadent Movement of the 1890s would not have been as famous as they came to be (Gere and Hoskins, 2000). Wilde’s personal life was subject to rumors. His years of success came to a dramatic end when his close relationship with Alfred Douglas resulted in his trial on charges of homosexuality which was by then illegal in Britain (Lambourne, 1996). Lambourne (1996) states that after being sentenced to a two year term imprisonment for homosexual activities, the period of British fashion history was successfully brought to an end until the revival of the male dandy after the Second World War It was until Walde’s trial that aestheticism, effeminacy and homosexuality came to be recognized as inextricably connected categories (Spektor, 2009). The trial of Wilde cemented an already developing link between effeminacy and homosexuality. Before the trials, aesthetes were infamous because of their effeminacy. However, it was taken as a product of the complex, upper-class standard of living they professed. Homosexuality was an issue alluded to in their work, but it was not evidently linked to effeminacy. It was after this trial that the radical type of the effete, effeminate and homosexuals became easily distinguishable to the public at large. Walde’s influence remains strongly in modern male fashion (Spektor, 2009). Reference: Campbell G. , (2006), The Grove encyclopedia of decorative arts, ISBN 0195189485 Oxford University Press US Gere C. , and Hoskins L. , (2000). The house beautiful: Oscar Wilde and the aesthetic interior, ISBN 0853318182 Lund Humphries Lambourne L. , (1996), The Aesthetic Movement, ISBN 0714830003: Phaidon McDermott C. , (2007), Design: the key concepts, ISBN 041532016X: Routledge Raby P. , (1988), Oscar Wilde, ISBN 0521260787: CUP Archive Spektor N. , (2009), â€Å"The Picture of Dorian Gray† and the Aesthetic Movement in England at the Turn of the Century, ISBN 3640319567: GRIN Verlag