...REACTION PAPER In the introduction of conscious capitalism, John Mackey gives us a brief history on how he established Safer Way which is now known as Whole Foods Market with no prior business education background. His intention was to create a business that was ethical and purpose driven. His insight on free enterprise capitalism is much focused throughout the introduction and first chapter, its importance and how it has changed the world. I agree with the findings because, it free enterprise capitalism has led to innovations and social cooperation that any other system. It has freed millions of individuals from extreme poverty and enabled businesses to open up around the world that have contributed to the welfare of humanity. Raj Sisodia, the co-author of the book together with Mackey, have pursued to change the way business is thought about, taught and practiced through their movement. This is both noble and I believe it’s our human responsibility to find solutions to the world and innovations that can take us to the next phase of how business is done. Capitalism has been misunderstood and has been tagged with bad titles such as crony capitalism, profit maximization for investors as top priority and unethical business activities as inferred by products from its activity. Crony capitalism is one of the most tagged names of big corporations because they have the financial resources to corrupt and bribe the government and inturn use this power for their own enrichment. Although...
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...Socialism Vs. Capitalism & Everything In-Between. We have all grown up seeing that we live in a world that divides our planet into territories. These territories are bordered by imaginary lines that divide us from them. The borders in which we live play a major role in developing each of our identities, our customs or traditions, the way we conduct ourselves in business and personal endeavors. Some of us have grown up with an expectation of freedom to choose, while others depend on their government to act in their best interest. Depending on what country you call home, you either participant in a free market economy, a controlled economy, or a mixture of both. In this report we are going to look at what creates each type of economy and where we can find examples of each within the world. First we are going to analysis the characteristic of a Free Market Economy. In a free market, the government’s role is to “make sure that the market is stable enough to, properly, conduct business” (Freidman). In purity, the system hopes to “eliminate subsidies for industries, the pre determination of prices, and the amount of regulation controlling certain industry sectors”(Freidman). The implementation of a free market introduced individual property rights, which allows citizens to voluntarily exchange property/resources at a price arranged solely by the mutual consent of the buyer and seller. The seller is free to choose if the price being offered is worth their property; without threat...
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...Assignment On Capitalism Program: M.com (2)years Smester: 3rd (Evening) TABLE OF CONTENTS · Introduction Of Capitalism. · Capitalism vs Socialism. · Capitalism vs Communism. · Types Of Capitalism. · Advantages Of Capitalism. · Disadvantages Of Capitalism. · Criticism On Capitalism. CAPITALISM An economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth. It is easy to forget that capitalism was coined not so long ago, in the mid-19th century, when the Industrial Revolution was in full swing, and individual entrepreneurs were creating new industries and amassing wealth. Terms for the other two major competing economic systems of the past two centuries— socialism and communism—were also coined around the same time. Also, about the same time it became common to designate all such coinages as “isms”: terms formed by adding the suffix -ism to a root word in order to expand its meaning to encompass a related system, theory, or practice. Thus from a fairly old word, capital, the relatively newer word, capitalism, was formed to describe the then emerging economies of the West. On the surface, the meaning of capitalism seems straightforward, referring to an economic system in which private individuals, rather than governments...
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...Conscious Capitalism: A Reader’s Reflection In their collaboration, Conscious Capitalism: Liberating the Heroic Spirit of Business, both John Mackey and Raj Sisodia outline and discuss the problems plaguing sizeable business, while sharing their own knowledge and experiences. Throughout, they also continuously encourage socially responsible values in all business organizations. Citing decentralization and stakeholder empowerment, Mackey and Sisodia argue that mans’ inherent goodwill can not only sustain capitalism, but grow with it. The authors formulate their contentions into four models, also known as ‘Tenets,’ which are interconnected, yet interdependent: Higher Purpose; Stakeholder Integration; Conscious Leadership; and, Conscious Culture and Management. The first tenant, Higher Purpose, focuses on searching for meaning, and nurturing the business’ guiding principles. Its purpose is to guide stakeholders with clarity and conviction, but only if the value is simple and clearly defined. Though the authors note ‘purpose, mission, and vision’, they further clarify the distinctions by citing Jerry Porra, quoted in Lan Liu’s Conversation on Leadership: Wisdom from Global Management Gurus: Purpose refers to the difference you are trying to make in the world, mission is the core strategy that must be undertaken to fulfill that purpose, and vision is a vivid, imaginative conception or view of how the world will look once your purpose had been largely realized (47). This...
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...Fight against repression, marginalization, stigmatized identities and quest for equality has been a part of human history. Rapid growth ideology has impacted country in two critical ways. Firstly, it has lead to the exclusion of poor and the vulnerable communities from the development discourses and secondly, violating of human rights against those who question the current form of development emanating from crony capitalism. One of the noteworthy developments to counter the majoritarian hegemony in the current scenario is that of identity formation to safeguard their basic rights. Vulnerable communities on the basis of exclusion and discrimination have started organizing themselves on collective identities. Dehumanizing experiences faced by...
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...There are three sections to differ the economy system used between Angola and Switzerland which are: * Index of economy freedom * Gross National Income and Gross Domestic Product * DHL Global Competitiveness Index 2013-2014. 1. Index of economy freedom Angola According to the 2014 Index of Economy Freedom, Angola listed as 160th out of 178 countries that are under observation. With total score is 47.7, this nation has a lot of troubles in term of rule of law, open market and government spending. In law, the government uncontrolled the corruption cases and it might become the barrier for international investors to contribute Angola’s wealth because it is risky to set up the business inside the distrust government. For evidence, the corruption perception index 2012 stated that Angola ranked as 22nd country most corrupt. Besides, this country got low score in term of property right which is 15. Based on the information, Angola is one of the strong socialism countries due the government control the income of the business and fail to reform the economy since the weak rule of law and trade freedom. Same with other socialism nations, the government ignore the opinion from their citizens. In fact, the labor freedom score in 2013 was 44.8, less 15.9 point from the average Index of economic freedom while the freedom of the press was under depression as ranked 157th out of 197 nations. Therefore the policy of “property is held in common and not individually, and relationships...
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...This article was downloaded by: [Edith Cowan University] On: 31 March 2015, At: 12:08 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK Development in Practice Publication details, including instructions for authors and subscription information: http://www.tandfonline.com/loi/cdip20 Globalisation Shalmali Guttal a a Focus on the Global South, CUSRI , Chulalongkorn University , Wisit Prachuabmoh Building, Bangkok, 10330, Thailand E-mail: Published online: 18 Nov 2010. To cite this article: Shalmali Guttal (2007) Globalisation, Development in Practice, 17:4-5, 523-531, DOI: 10.1080/09614520701469492 To link to this article: http://dx.doi.org/10.1080/09614520701469492 PLEASE SCROLL DOWN FOR ARTICLE Taylor & Francis makes every effort to ensure the accuracy of all the information (the “Content”) contained in the publications on our platform. However, Taylor & Francis, our agents, and our licensors make no representations or warranties whatsoever as to the accuracy, completeness, or suitability for any purpose of the Content. Any opinions and views expressed in this publication are the opinions and views of the authors, and are not the views of or endorsed by Taylor & Francis. The accuracy of the Content should not be relied upon and should be independently verified with primary sources of information. Taylor and Francis shall not be liable for any losses, actions...
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...A Research Paper On Why Capitalism Succeeded In Generating An Industrial Revolution In Other Countries But Failed In The Philippines Submitted by Manuel Ortega Abis Student No. 11-71-003, BPA Special Program Batch 8-A CAPA, Universidad de Manila Professor Ronaldo J. Navata PREFACE The research materials and references used in this research paper were managed to be gathered through unlimited internet hours and limited library hours, but the pages on the web and the pages of the book offered equal enlightenment and enjoyment. The premises and conclusions built and reached in this paper are products of the researcher’s serious analysis of the Philippine economic situation. The researcher, however, is praying that his objectivity and the sincerity of his language shall not fail him in his own humble attempt to bring this mini-thesis to its just and proper course and closure. The twin causes formulated in this paper are generally subdivided into two: the concept of economic will (policy system of governance) and the concept of economic ownership (property system of the governed). Further reading is advised on critical and related topics of this paper. For the economy, these words: there is no such thing as the co-existence of freedom and equality. God bless the Philippines! ______________________________________________________________________________ ...
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...National Differences in Political Economy Learning objectives • Understand how the political systems of countries differ. • Understand how the economic systems of countries differ. • Understand how the legal systems of countries differ. • Be able to explain what determines the level of economic development of a nation. • Discuss the macro-political and economic changes taking place worldwide. • Describe how transition economies are moving towards market based systems. • Articulate the implications for management practice of national differences in political economy. This chapter discusses differences in national political, economic, and legal systems, highlighting the ways in which managers in global settings need to be sensitive to these differences. Political differences are described along two dimensions: collectivist vs. individualist and democratic vs. totalitarian. Economic systems are explored in terms of market characteristics: market economies, command economies, and mixed economies. Legal systems are discussed in terms of the protections they offer for business: intellectual property, product safety, liability and contracts. The opening case explores the political and economic situation in Venezuela since Hugo Chavez was elected president in 1998. The closing case describes the challenges facing Indonesia, a vast country populated mainly by Muslims that stretches over 17,000 islands. Indonesia...
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...State versus Private Ownership Andrei Shleifer Department of Economics Harvard University Cambridge, Massachusetts. Abstract Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the "dynamic vitality" of free enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on the role of prices under socialism and capitalism, and ignored the enormous importance of ownership as the source of capitalist incentives to innovate. Moreover, many of the concerns that private firms fail to address “social goals” can be addressed through government contracting and regulation, without resort to government ownership. The case for private provision only becomes stronger when competition between suppliers, reputational mechanisms, the possibility of provision by private not-for-profit firms, as well as political patronage and corruption, are brought into play. 1 What kinds of goods and services should be provided by government employees as opposed to private firms? Should government workers make steel and cars in government-owned factories? Should teachers and doctors be publicly employed or should they work for private schools and practices? Should garbage be picked up by civil servants or employees of private garbage haulers? Should the whole economy be "socialized"? Although...
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...PAUL KRUGMAN WINNER OF THE NOBEL PRIZE IN ECONOMICS THE RETURN OF DEPRESSION E C O N O M CS AND T H E C R I S I S OF I 2 0 0 8 ISBN 9 7 8 - 0 - 3 9 3 - 0 7 1 0 1 - 6 W USA $24.95 CAN. $27.50 hat better guide could we have to the 2008 financial crisis and its resolution than our newest Nobel Laureate in Economics, the prolific columnist and author Paul Krugman? In his prescient 1999 classic, The Return of Depression Economics, Krugman surveyed the economic crises that had swept across Asia and Latin America and pointed out that they were a warning for all of us: like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression were making a comeback. In the years that followed, as Wall Street boomed and financial wheeler-dealers made vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America. When the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises—and a replay of the 1930s seems all too possible. In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States and the world up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken...
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...Every year the imperialists’ influence on Bangladesh becomes apparent when the Bangladesh Development Forum (previously known as Paris Consortium) meeting is held. This year this meeting was held on May 16 and 17 in Dhaka. In these meetings Finance Minister, Saifur Rahman, met the so-called ‘development partners’ (IMF/World Bank and others) who gathered to pledge money (loan and aid) to help develop the nation. The meetings were hailed a great success as $2 billion in aid were promised to Bangladesh over 3 years. Our governments boast at the amount of funds they can manage from the donor agencies. They present their ability to get money from these donor agencies as a sign of their brinkmanship and claim that this is the only way to solve the nation’s economic problems. In this paper, Hizb ut-Tahrir, Bangladesh exposes the oppressive capitalist nature of the budget and shows how the entire economy of Bangladesh, through a complex package of measures, is being brought under the total grip of the imperialists. ! " # $ % & ' Every year when the budget is presented, one of the most common discussions is that revenue target has not been achieved. Tax is the main source of revenue in Bangladesh (around 95% of total Government of Bangladesh GOB revenue), especially import duties (around 66% of tax revenue). Contribution of VAT (including import) currently stands above 40%. In the name of reform of tax regimes and restructuring of the tax administration, the GOB reduces the...
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...HOW CAPITALISM WILL SAVE US Why Free People and Free Markets Are the Best Answer is Today's Economy S T E V E FORBES and E L I Z A B E T H A M E S HOW CAPITALISM WILL SAVE US HOW CAPITALISM WILL SAVE US W h y Free People and Free Markets A r e t h e Best A n s w e r i n Today's E c o n o m y Steve Forbes AND ELIZABETH AMES CROWN BUSINESS ALSO BY STEVE FORBES Power Ambition Glory (coauthored with John Prevas) Flat Tax Revolution A New Birth of Freedom To the millions of individuals whose energy, innovation, and resilience built the Real World economy. Their enterprise, when unleashed, is always the answer. Copyright © 2009 by Steve Forbes and Elizabeth Ames All rights reserved. Published in the United States by Crown Business, an imprint of the Crown Publishing Group, a division of Random House, Inc., New York. www.crownpublishing.com CROWN BUSINESS is a trademark and CROWN and the Rising Sun colophon are registered trademarks of Random House, Inc. Library of Congress Cataloging-in-Publication Data Forbes, Steve, 1947How capitalism will save us / Steve Forbes and Elizabeth Ames.—1st ed. p. cm. Includes index. 1. Capitalism—United States. 2. United States—Economic policy. 3. United States—Economic conditions. I. Ames, Elizabeth. II. Title. HB501.F646 2009 330.12'20973—dc22 2009032751 ISBN 978-0-307-46309-8 Printed in the United States of America DESIGN BY BARBARA S T U R M A N 1O 9 8 7...
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...No. 2060 August 7, 2007 The Estonian Economic Miracle The Honorable Mart Laar Estonia is a small country in Northern Europe on the Baltic Sea, at the crossroads of East and West, South and North. Samuel Huntington states that the Estonian border is a border of Western civilization, a border where civilizations clash.1 This has made Estonia interesting to historians but hard for people who live there. Throughout history, Estonians have had to fight for their freedom. In 1918, Estonia declared independence. It was occupied by the Soviet Union in 1940 during the Second World War. We fought the communist terror during the war but were defeated. As a result of the occupation, Estonia lost nearly 20 percent of its population. But we never gave up. When the 1980s offered us a new chance, we took advantage of it. Estonia became one of the first countries to pry open the cracks in the Soviet Empire. Finally, in 1991, after 50 years of occupation, Estonia became free again. We had freedom but little else. Estonia was destroyed during the period of communist rule. In 1939, Estonia’s living standards and way of life were more or less the same as neighboring Finland’s. Then Estonia lost its independence, but Finland, despite losing territory and population, succeeded in keeping its independence. Life under two different political systems created a huge disparity in the development of Finland and Estonia. People learned and worked hard on both sides of the Finnish Bay, but only the Finns...
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...How China rises What lessons can be drawn from China's spectacular and sustained economic growth? As Hu Jintau remarked at the 17th Congress of the Chinese Communist Party, the period since the previous Congress five years ago has been extraordinary. China's economic achievements have been arousing not only astonishment and admiration but also some anxiety. In the past twelve months alone, The People's Republic of China (PRC) has overtaken Canada as the biggest source of imports to the USA, and overtaken the USA as the biggest source of imports to the European Union. Concern about the low level of investment in Africa has been displaced by concern about the effects of the high level of Chinese investment in Africa; there is now even anxiety about the effects of investment by Chinese state-owned firms into the Western economies. The Chinese Communist Party is also expressing concerns. The themes of its 2007 Congress included protection of the environment and the achievement of social harmony. According to some estimates, China has displaced the USA as the world's biggest source of greenhouse gases. Inequality is rising as fast as pollution: China now has over 800 individuals with a personal wealth of more than a hundred million US dollars each, up from 500 in 2006; while the average income in rural areas of China is 480 dollars per year. Made in China. Hu Jintau's remark on the extraordinary nature of the most recent years can be faulted in only one sense: China has...
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