Comparing Andrei Shleifer, Amartya Sen, And Jean Dreze

Andrei Shleifer, Amartya Sen, and Jean Drà ¨ze all try to understand what makes countries rich and what makes them poor. Shleifer thinks that what makes a country rich, and subsequently its people rich, is the free market and the economic success that follows it. Alternately, Drà ¨ze and Sen believe that what makes a country rich, a whole country with its entire population, is state intervention and regulation of the economy. This differing on opinion is the fundamental difference in the work by Shleifer and Drà ¨ze and Sen. In many ways the arguments within the book An Uncertain Glory work to refute Shleifer’s claim made in The Age of Milton Friedman. As is evident by the lower life expectancy, higher infant mortality rates, as well as†¦show more content†¦When discussion inflation, Shleifer, when discussing a book he read, says that studies have shown that inflation under 40% do not hinder economic growth. In regard to capital controls Shleifer says that they off er no real benefits, and that the case of Malaysia during the Asian financial crisis may actually have hurt the country as the controls promoted corruption and assisted the Prime Minister. Shleifer discusses the success of the free market economic policies in his paper. He talks about the wonders the policies have done to the economies of Eastern Europe, Latin America, and China. In Eastern Europe, after the fall of the Soviet Union, governments there enacted smaller government budgets and smaller taxes. These policies have works to reverse the negative economic trend of the Soviet era, and turned into positive economic growth. In Chili, the policies their have allowed for a massive economic growth, and an overtaking of Argentina. The government in Chile also has ambitions, such as entering the economic playing field of Australia or New Zealand â€Å"Such talk might be ambitious, but it shows where free market policies got the Chileans† (CITATION). China is a massive economic success. The policies their brought hundreds of millions of people out of poverty and changed the world. Yet many people argue as to how this happened. Shleifer talks about how some people say it was the state

The Effects of Slavery Depicted in A New Song by Langston...

Slavery in America began in 1607. Blacks and a small percentage of whites were owned by people whom were called masters. The majority of slaves were involved with the responsibility of field work and picked such things as cotton, sugar, crops, etc. The blacks that were not slaves had only a limited amount of rights which included their own water fountain and the backseat of the bus. Throughout the first half of the 19th century, a movement to end slavery was in progress. By 1865, President Lincoln signed The Emancipation Proclamation and the Land of the free had began. A New Song by Langston Hughes and Fences by August Wilson were both based on black characters. Both the poem and the play base their theme on their inherited history and the†¦show more content†¦August Wilson’s writing relates to Langston Hughes because he separates his race from the whites also. For example, in Act One, Scene One, Troy spins a long tale about his fight for several days with the Devil. The story of the Devil endears Troy to audiences early on by revealing his capability to imagine and believe in the absurd. Troy turns a white salesman into a Devil. Troy calls a man the Devil who tried to sell Troy furniture in exchange for monthly payments by mail. Because devils normally portray evil, it is evident that Troy thinks Whites are evil. Again, Troy is linking his past to his present. The fact that he was treated badly in earlier years by whites, makes him believe that all whites are the same. At the end of the poem the narrator illustrates the end of slavery with examples such as â€Å"Revolt! Arise!† and â€Å"The past is done!† This is an indication that the blacks rebelled against the whites. The blacks are free. The reader can insinuate that slavery is over. In conclusion, The Civil Rights Movement inspired authors around America to speak out about slavery. Although the play and the poem were based on two different characters, they both related in such ways that taught readers a little lesson on history. A New Song took experiences of a slave and molded it into a short poem. Fences ,explained in more modern day, was

Taxation Law Legislation and Commentary

Question: Discuss about the Taxation Law for Legislation and Commentary. Answer: Introduction The current report is being drafted on the Taxation laws of Australia. Light is drawn on essentials that are required to be entered or omitted while calculating the income of a taxpayer. Income tax is charged on the income earned by the assessee further broadly classified into two categories, ordinary income and statutory income. The current case indicates provisions in relation to income received in advance and the stock traded in context to the funeral business. Significant case laws are cited to prove the correlation between the applicable sections and law, which is apt to the current case. Application of relevant facts suitable case wherever found necessary to prove the point of the answer. Legal Law: As per the section 6.5 of Income Tax Assessment Act 1997, an ordinary income is a part of assessable income, which is derived throughout the income year. In the case of Brent V FC of T71ATC, it was articulated that wherein any specified provision is not mentioned regarding the determination of derived income, applying of commercial and ordinary principals will derive the income assessed (Linney, 2012). The income, which is derived by RIP LTD from RIP Finance, shall be the income derived in general. The income that is been derived from its funeral plan will be taken as an activity. Such activities are referred as funeral and associated activities. Facts: RIP Pty. Ltd is a resident private company, which carries on its business of undertaker/funeral director. Fess is generated by the company from RIP finance Pty Ltd who under the instalment repayment plan provides its customer credit facilities. Deluxe funeral arrangements are guaranteed to the client wherein the agreed amount is paid. If the determined charge of the contract is not paid in complete then in such a case it is billed as fees payable under an invoice of 30 days or fees received from RIP finance Pty Ltd. under the instalment repayment plan. Pertinent Law: In the case of Arthur Murray (NSW) Pty Ltd. V FCT (1965) CLR 314 (High Court), the dance classes were taken by the taxpayer and prepaid basis was chosen as a means of recovering fees. In the event of future services, no refund was offered to its customers (Rowland, 2014). The income earned from classes for future prospects was accounted by the taxpayer as unearned deposit account. In this case, the court provided its verdict elucidating that the amount received by the taxpayer for services that are to be offered in future years will be a part of the assessable income for the year in which it is received and not for the year in which it is actually earned. In the current situation, Arthur Murray case shall be applicable to the company. As the company is receiving fees on the prepaid basis for which the taxpayer makes no refund if the client is unable to avail the services in future. A similar notion is applicable for those customers who cease to make payments and are unable to repay their arrears. The respective two methods are clearly elucidated under Rule 8 and Rule 9 of the Taxation Rulings (TR 98/1): Cash Basis: It is also known as receipt basis. Under this method, taxpayer derives income when he receives cash or cash equivalent amount. Any company who has a turnover of less than $2 million can avail this method. This method covers the period during which actual sales and purchases are being made (Martorano, 2014). The merit of employing this method is that it can better align the flow of money with the business activity and its statement liabilities. Thus overall making it easier for managing the cash flows. The cash method is applicable in following instances: Any small business which might be an individual, company, partnership firm or a trust whose aggregate turnover is not more than $2 million (Charlesworthand Marshall, 2011). Wherein the income tax is calculated on the basis of cash method. A type of enterprise who is directed by any respective law to pay taxes on the basis of cash method. Accrual Method: Herein, income is considered received when it has actually been earned. Income will be realised only when the services or goods are actually been delivered or debts are incurred against the income and not just merely because of receipt of income as done in cash basis (Srensen and Johnson, 2010). Instance; Cash Basis: Mr N is employed who receives a salary for two months in advance for the next year. Herein, the salary of two months shall be deemed to be received even if the services pertaining to such salary is not rendered. Accrual basis: Mr P has a business of selling telephone. In the current year, a scheme is offered to customers to make payment in advance for the next year and avail the benefit of rebate of 20%. On the basis of accrual method, though the fees are received for next year, the fees in relation to current year will only be accounted for assessment of income of the taxpayer. Pertinent Law: As per theSection 104-150 of Income Tax Assessment Act 1997, forfeiture of deposit CGT event H1. This is applicable in a case wherein an individual or entity or organisation has received any deposit from you and they forfeit the same for the reason that prospective sale or any other transactions have not proceeded (Taylor and Richardson, 2013). For instance; Mr X has decided to sell off its land. Before commencing upon the contract of sale, the prospective buyer pays Mr X $1000 which is a holding deposit for 2 months. In any circumstance, the negotiating contract ceases to occur and in such case, the deposit is forfeited by Mr X. According to 1A the following components need to be reduced from the amount, which is being deposited: Amount repaid by Mr X, or Compensation paid by Mr X that can be considered as a repayment of complete or part of the deposit. Also, 1A specifies that the proceeds which are being forfeited may be in form of property (Tse, and Krol, 2015). As per 1B, deposit cant be reduced by any part of payment that can be deducted. As per subsection 2, the time of the event is when the deposit is forfeited. As per subsection 3, a capital gain can be made if a deposit is more than the expenditures incurred in context to the prospective sale or any other transactions. Subsequently, the capital loss is said to be made wherein the deposit is less. As per subsection 4, the expenditure may include giving property, but it does not include any amount, which is received as recoupment and is not a part of your assessable income as well (Whiteford, 2010). Facts: The amount received by RIP Pty Ltd from its client under the funeral plan for any future costs in relation to the funeral. In case if the complete agreement is not met then the amount deposited shall be forfeited. $225000 is the amount that remains of Easy Plan funeral. As per the Section 104-150, the company has the right to forfeit the amount that has been deposited on account of incompletion of the obligation and $225000 should be written down as capital gained in the books of RIP Pty Ltd. Treatment of trading stock Applicable Law Trading stock is defined by 1997 The Income Tax Assessment Acts Section 70-10. As per the section trading stock involves all that is made, produced or bought which is used for the purpose of manufacturing, sale or exchanging in the ordinary course of business (Jacob and Jacob, 2013). Cases involving livestock and shares need to be considered for special issues. Livestock is considered to be a part of stock only if they are burdened animal only for the purpose of primary production in the business. In the case of shares, it is a part of trading stock only if there are a frequent number of transactions and considerable resources are developed from such activity. Generalised Taxation Treatment: Deduction referring to the cost of purchase is permitted. If closing stock's amount becomes more than closing stock's amount then the difference is valuable (Pintoand et.al., 2011). If opening stocks amount is more than the amount of closing, the resulting difference is deductible. Facts: There are three types of caskets, which include a range of accessories considered as religious and secular possessed by RIP Pty Ltd as closing stock. The company has also procured a significant amount of discount on its advance purchases. As the company has acquired the caskets and accessories for its fulfilment of obligation and not for the purpose of selling or exchanging it in the ordinary course of business thus this will not be a part of the stock. The case law of Ballarat Brewing Co, Ltd V FCT is applicable to the current situation as for the facts; it correctly reflects the expenditure made in reference to the acquisition of caskets and accessories. According to this case, the amount calculated in the books of accounts shall be the amount after discount availed. The net amount shall be the correctly reflected (Rowland, 2012). $25000 will be shown under head assets, but only if the casket and accessories come under the head of assets. Thus, equivalent to the amount under the head of capital assets, debtors account will be created. If this is considered as expenditure, then it will be accounted as prepaid expenses. Treatment of dividend income earned during the year As defined under section 44 of Income Tax Assessment Act, Assessment of dividends is made when it is paid and as per the section 6 (1) the word paid includes sum i.e., distributed or credited by the company. Further, the section 44 (1)(a) must be read in reference to dividend payment (Crawford and Sawang, 2011). The company cannot revoke dividend once declared. Thus, dividend forms a part of assessable income when it is received and cant be revoked by the company. Hence, in the current situation RIP Finance Pty Ltd declared a cash dividend of $21000, which will be part of the assessed income of the company. Treatment regarding rental of storage space to be paid during the year: Applicable law: In context to the provisions specified in Australian taxation laws, an individual or any business is eligible to claim any rental expenses, which are of revenue nature. Though, in context to the capital expenses, it has been clearly mentioned one is entitled to claim deduction wherein there is any declining value of capital work. Facts: On 1st March 2016, an amount of $57000 was paid as 2 years rent for storage space. The lease is about to get expired by 28th February 2018. In this situation $9500 amount was taken as a part of the expense and remaining $47500 is to be capitalised in financial accounts. As per the provisions specified under the Act, $9500 will be permitted to get deducted in the same year. Though, certainly, one cannot claim the deduction of $47500 immediately and avail it in proportionate of two years as per the declining value of capital expenditure. Treatment of the amount being debited from Long Service Leave Account Income Tax Assessment Acts Section 83-70 herein deals with the accounting of Long Service Leave provisions. The subset of this section is applicable to the leave off following categories but other than the annual leave which is to comply with the provisions of section 83-10 (Other capital expenses. (2016)). As per this section: Long leaves, extended leaves and furlough are a part of the long service leave. Any other service which has the same implication as of above mentioned in part (a) is ordinarily available. If the employer has been availing any scheme of arrangement for leave, the employer is not bound to comply with the Law of Common Wealth and State of Territory Laws, related to the leave as aforementioned in section 83-70. Section 83-8 is considered for dealing with taxations belonging to vacant long service leave payment (Pintoand et.al., 2011). As per this section, payment is recognised to post 14th August 1993 period will be 100% part of assessable income of employee. The MD of RIP Pty Ltd was given an advance pertaining to Long Service Leave of $22000 for 3 months. This amount is considered for the provisions of service leave account. In reference to Section 83-7 and 83-8, it can be observed that the amount given to an employee is related to the long service leave and the total amount. As part of the assessable income of the employee, the total amount of $22000 will be a part of it. Thus, the treatment done herein is correct. Applicable Law: The deduction that is applicable in relation to customer costs for a building it can be claimed under the head of capital work. It includes the following: Building or the preliminary extensions, enhancements to a building. Enhancement made in the structure of building such as maintaining the wall and fences (Pintoand et.al., 2011). The improvement made to safeguard the environment. Thus, all this assessment can help in claiming for the capital expenditure made by them regarding the extension of the building. Furthermore, distinctive rates of deduction shall be applicable from the time when the work has started. Division 43 of ITAA 1997 shall cover the provisions of this law. Facts: According to the decision made by the companys Board of directors to resort to and construct a purposeful built in facilities. In the year 2013, $250000 was paid over as a preliminary expense for architectural designing. The land was subsequently acquired in the year 2014 that costs around $1.25 million along with $50000 was given as expense incurred for demolishment. Construction for new house commenced from 1st September 2014 incurring a sum of $2.5 million. Operations began on 1st August 2015 and an onsite parking cost was calculated as $125000 which was completely built by 30th September 2015 and the over landscape site resulted in a sum of $40000 which was completed on 31s of January 2016. As per the given situation, the business is eligible to claim for 4% as allowances for construction work as in reference to the Division 43 of ITAA 1997. However, in order to avail this allowance the building is required to be qualified as per the provisions of Section 43.150 of ITAA 1997. Conclusion The organisation herein has been applying all the relevant norms of the ITAA 1997. Any non-compliance of the statutory laws will result in varied penalties and punishments for the company and its representatives (Rowland, 2012). It can be very well articulated from the current report that standard norms of the Taxation laws of Australia are followed requisitely by the organisation. The prevalent sections and provisions are elaborated for a detailed explanation of the sections. Suitable Case laws have been cited to present the facts and judgement of law, which has helped, in ascertaining the treatment made by the organisation. References Charlesworth, S. and Marshall, H. (2011). Sacrificing workers? The curious case of salary sacrificing in non-profit community services in Australia.International Journal of Public Sector Management.24(7).pp.673-683. Crawford, J. Sawang, D. (2011). RD in Australia: The new RD tax incentive.Taxation in Australia,46(4), p.145. Jacob, M. Jacob, M. (2013).Taxation, dividends, and share repurchases: Taking evidence globally. Journal of Financial and Quantitative Analysis. 48(04), Pp.1241-1269. Linney, S. (2012). Changing the face of regulatory projects in Australia. Taxation in Australia,46(10), p.468. Martorano, B. (2014).The Impact of Uruguay's 2007 Tax Reform on Equity and Efficiency. Development Policy Review, 32(6).Pp.701-714. Rowland, N. (2012). Keeping you up to date with the latest in tax.Taxation in Australia,47(2), p.62. Rowland, N. (2014). Furthering excellence in the tax profession.Taxation in Australia,49(3), p.119. Srensen, P.B. Johnson, S.M. (2010). Taxing capital income: options for reform in Australia. InMelbourne Institute, Australias Future Tax and Transfer Policy Conference(pp. 179-235). Taylor, G. Richardson, G. (2013). The determinants of thinly capitalised tax avoidance structures: Evidence from Australian firms. Journal of International Accounting, Auditing and Taxation, 22(1).Pp.12-25. Tse, J. Krol, C. (2015). Tax transparency in Australia: Cutting through the BEPS noise.Taxation in Australia,50(2), p.80. Whiteford, P. (2010). The Australian Taxà ¢Ã¢â€š ¬Ã‚ Transfer System: Architecture and Outcomes.Economic Record,86(275), pp.528-544. Pinto, D.and et.al. (2011). Australian Taxation Law Select: legislation and commentary. CCH Australia. Other capital expenses. (2016). [Online]. Available throughhttps://www.ato.gov.au/business/income-and-deductions-for-business/depreciating-assets/other-capital-expenses/.[Accessed on 6th September 2016].

Godfather And Last Don Essays - The Last Don, English-language Films

Godfather And Last Don A Mafia Family's Use of Violence Violence can either be used as mean of attaining power or as means of revenge. It is a highly known fact that the main focus of a stereotypical Mafia family should centre around the use of violence. "The Godfather" as well as "The Last Don" are two novels which hold true to this focus and are interestingly enough both written by the same author: the late Mario Puzo. Although being written more than twenty-five years apart, the two novels almost mirror each other throughout. For instance, near the beginning of each book the only daughter of each family gets married. Aside from that we also see one son die in each novel as well as the husband of the family's only daughter to be killed by the family. Throughout all these instances the only thing dissimilar regarding the two Mafia families is their reasons for violence. A family's use of violence is determined by how much power they hold. In "The Godfather", the main purpose behind all killing and violence can be directly related to attaining power. On the other hand, "The Last Don" is a novel in which all cases of violence are used for the sole purpose of revenge. The killing of one of the sons in both novels by Puzo appears to be the most prominent deaths. The unfortunate son in "The Last Don", Sylvio, is a very caring and nurturing individual who wishes to have his younger sister, Rose, marry the man of her choice. Her first choice is the son of a rival Mafia boss. He is a part of the Santadio clan. For obvious business reasons Don Clericuzio does not wish his daughter to become involved with the rival son let alone have him become a part of his family. Therefore Don Clericuzio strictly forbids Rose's marriage to him. As a means of reconciling this difference Petie meets Rose's lover to seek the solution to their marriage. On the way home after making arrangements to persuade his father to let his sister marry, Petie is sideswiped in his sportscar by a member of the Santadios and gunned to death. The fact that the Clericuzio clan is the most powerful family in the world means that the killing of any Santadio would not be by any stretch for personal gain of wealth. The Don of each family lays the seeds for generations to come which helps explain the future killings in this book. It is Don Clericuzio who as an act of revenge plans the total wipeout of the Santadio family. He lets the wedding between his daughter and the Santadio's son proceed sending only his nephew Pippi to go as "representation" of the Clericuzios. All goes well at the wedding as Pippi dances among his foes. Rose and her new husband go to the wedding bed that night and only that night. In the middle of the night a band of the Clericuzios storm the Santadio mansion and kill all of their men. They wear masks to disguise themselves from Rose but it is to no avail as she notices Pippi's wedding shoes. In the end it is Pippi who kills Rose's husband but not before the seeds of life had been planted for Rose's child who was to be named Dante. Don Clericuzio had avenged the death of his son Sylvio. Unfortunately this was only the beginning of the chain of revenge. The after effects of the Santadio-Clericuzio war was laid to rest by all of the Clericuzios except for Rose who was deeply in love with her husband. The hurt was evident throughout as she shunned upon the presence of anybody but her dear son Dante. Rose ended up going mad and became a senile old woman by the time she was fourty years old. The Clericuzio family kept the war against the Santadios quiet throughout Dante's life as well as Cross' lifetime. The exception to this was when Dante's mother would often whisper the truth about it to him. For this Dante,"..dreamed of vengeance on Pippi, and though these were fantasies, he thought them for his mother's sake". (P.429) Cross was Pippi's son and was baptized at the same time as Dante. Dante returned the love that was shown by his mother and was obviously closer to her than any Clericuzio. At this point Dante is in his mid twenties and has become a cold-hearted hitman on behalf of the Clericuzio family. It is of no

The o.c

The o.c The O.C., also known as Orange County, California, is an idyllic paradise - a wealthy, harbour-front community where everything and everyone appears to be perfect. But beneath the surface is a world of shifting loyalties and identities, of kids living secret lives hidden from their parents, and of parents living secret lives hidden from their children. The episode 'The lonely hearts club,' directed by Ian Toynton, tells the story of the Cohen, Cooper, and Nichol families, and Ryan Atwood, a troubled teen from the wrong side of the tracks, who is thrust into this world, and who will forever change the lives of the residents of The O.C.The O.C takes place around four central characters, Marissa Cooper, Ryan Atwood, Seth Cohen and summer Roberts as well as other minor characters such as the parents. From Ryan's first moments in Newport Beach, he found himself in conflict with the strict economic and social hierarchy that has existed for generations and doesn't tolerate any invasion from any outsiders.Marissa CooperIn the beginning, his very presence in Newport Beach threatened the security of its inhabitants and their way of life simply because this troubled teenager was unable and unwilling to conform. An example of this is when Ryan tries to reunite Lindsay with her estranged father but his bad boy nature and image gets in the way. We are positioned to see Ryan as the guy from the wrong side of the track as he lies in bed, pulling the blackest up close around him. This makes us see him as vulnerable and to see that pulling the blankets up gives him a sense of protection. His fish out of water status continues to set him apart from the rest as conflict occurs over his social standing. Although it took time...

Questions Assignment Example | Topics and Well Written Essays - 250 words - 19

Questions - Assignment Example Additionally, networking provides skills for better communication. Communication skills are vital to every manager (Okome 2011). Social media is effective because of its necessity to employees and managers. Workers need to communicate with each other because of the current technology. Changes in technology have made it easy for workers to work in remote areas. With these changes, communication is important. This gives social media gives a positive review. There is simplicity in communication for employees and managers in different locations. Ideas can also be shared by different personnel is different locations. Conversely, social media networking channels can act as a distraction. Social media does not also give full information meaning that information can be misunderstood. Security is not guaranteed for any information passed through social media (Adler 2012). Research shows that technology has improved modes of communication. This is because companies have been able to operate in different locations. Organizations have set up virtual teams to operate in different locations using technology such as information communication technology to communicate with the headquarters. Technology makes communication effective resulting in the improvement of marketing of the organization’s products and services. The fact is virtual teams communicate easily with the headquarters (Earnhardt

One article analyses and make the Recommend marketing strategies to

One analyses and make the Recommend marketing strategies to the relevant cloths industry on your analysis of the chosen phenomenon - Article Example nds’ End were rated the best by the respondents primarily because these online retailers provided precise descriptions of the apparel and correct sizing information. Equally important in the superior ranking of these clothiers was the fact that they had an easy to browse, informative website. Majority of the respondents also felt that they got true value for money spent on online clothes-shopping. The survey also revealed the flip side of online clothes-shopping. There were major issues with size accuracy of the clothes, which impeded customers intending to buy clothes online. Returning clothes and costs associated thereon was considered a huge disadvantage by many respondents. 72 percent of the respondents complained about the lack of transparency in divulging shipping costs by online retailers. There were certain instances of billing mistakes and wrongly filled orders. In addition to these problems, consumers refrain from online shopping because of privacy concerns and issues regarding security of financial transactions. Some customers find online shopping very confusing (Colberg 2002). The analysis of the survey reveals that customers are not satisfied, among other things, with the process of exchange of goods purchased online. The online clothing retailers should make the process of returns trouble-free for the consumers. A straightforward and transparent policy regarding this aspect will provide a huge boost to their sales (Rosencrance 2000). Many consumers would be tempted by a generous returns policy that promises to exchange the item or simply return the item and take the refund of its purchase price. The retailers can provide the consumers prepaid U.S. Postal Service labels which are valid for a certain period of time. The customers can use these labels for returning the apparel with which they are not satisfied. This will make the process of returns simple and inexpensive for the unsatisfied customer. With an easy returns policy in place, customers