...HUMAN CAPITAL DEVELOPMENT Human capital is the stock of competencies, knowledge, social and personality attributes, including creativity, cognitive abilities, embodied in the ability to perform labor so as to produce economic value. It is an aggregate economic view of the human being acting within economies, which is an attempt to capture the social, biological, cultural and psychological complexity as they interact in explicit and/or economic transactions. Many theories explicitly connect investment in human capital development to education, and the role of human capital in economic development, productivity growth, and innovation has frequently been cited as a justification for government subsidies for education and job skills training.[1] "Human capital" has been and is still being criticized in numerous ways. Michael Spence offers signaling theory as an alternative to human capital.[2][3] Pierre Bourdieu offers a nuanced conceptual alternative to human capital that includes cultural capital, social capital, economic capital, and symbolic capital.[4] These critiques, and other debates, suggest that "human capital" is a reified concept without sufficient explanatory power. It was assumed in early economic theories, reflecting the context, i.e., the secondary sector of the economy was producing much more than the tertiary sector was able to produce at the time in most countries – to be a fungible resource, homogeneous, and easily interchangeable, and it was referred to simply...
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...biological entity, but a socially constructed product and ultimately, to gain distinction, a 'body for others.' The body for others “is the visible manifestation of the person, of the 'idea it wants to give of itself', its 'character', i.e. its values and capacities."[2] This manifestation of the body is influenced by the person's 'taste', social field and 'habitus'. Bourdieu defines taste as an incorporated principle of classification which governs all forms of incorporation, choosing and modifying everything that the body ingests and digests and assimilates, physiologically and psychologically.[3] Taste is thus determined by class, according to Bourdieu. This is significant because "People develop preferences for what is available to them."[4] These preferences are formed from a mixture of economic, social and cultural 'capitals' that will be discussed and evaluated later in the essay. A social field is a “network of social relations that follows rules and regularities that are not directly explicit."[5] Society today is composed of many specialised fields that value certain 'bodies' more than others and that value certain social practices more than others. The rules of the field, its regulations and the participation...
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...Commodity Fetishism vs. Capital Fetishism Marxist Interpretations vis-à-vis Marx’s analyses in Capital Dimitri Dimoulis and John Milios Abstract In Marx’s analysis of the Capitalist Mode of Production and more precisely in his theory of value, the key to decipher the capitalist political and ideological practices and structures is to be found. In this context, many Marxists believed that the analysis of “commodity fetishism” in Section 1 of Volume 1 of Capital renders the basis for understanding ideological domination and political coercion under the capitalist rule. The authors argue, that “commodity fetishism” is only a preliminary notion, which allows Marx to arrive, in subsequent Sections of Capital, at the concept of the “fetishism of capital”. 1. Introduction From the days of his youth Marx was familiar with the statements of ethnographers on the subject of fetishism and used the term in his own writings.1 Equally important was in this context the influence of Hegel.2 In this paper we are not going to deal with the different meanings that the notion of fetishism acquires at different points of Marx’s work, an issue which is related to the various concepts of fetishism in political economy, political philosophy and the social sciences.3 We will focus on the analysis of commodity fetishism, in an effort to contribute to the comprehension of the different dimensions of this concept, especially in Marx’s Capital. For this purpose, we will pursue the following course:...
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...International Journal of Business and Social Science Vol. 2 No. 19 [Special Issue - October 2011] Perceived Relationship between Corporate Capital Structure and Firm Value in Nigeria Semiu Babatunde ADEYEMI Department of Accounting University of Lagos Lagos, Nigeria Collins Sankay OBOH Department of Accounting University of Lagos Lagos, Nigeria Abstract This study examined the empirical effects of corporate capital structure (financial leverage) on the market value of a selection of firms listed on the Nigerian Stock Exchange. Both primary and secondary data were obtained for analysis employing both descriptive and inferential statistics for analysis. A sample size of 150 respondents and 90 firms were selected for both primary data and secondary data respectively. Descriptive statistics was used to analyse the primary data, while Chi-Square was used to draw inference of perceived relationship between capital structure and firm value. The results of the study suggested that a positively significant relationship exists between a firm’s choice of capital structure and its market value in Nigeria. The study suggested that listed firms in Nigeria should strategically plan and manage their capital structure in order to maximize their market values. Keywords: Capital structure, market value, Nigeria, debt, equity. 1. Introduction 1.1 Background to the Study After the Modigliani-Miller (1958 and 1963) paradigms on firms’ capital structure and their market values, there have...
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...BAY AREA SOCIAL SERVICES CONSORTIUM Understanding Poverty From Multiple Social Science Perspectives A Learning Resource for Staff Development In Social Service Agencies Michael J. Austin, PhD, Editor BASSC Staff Director Mack Professor of Nonprofit Management School of Social Welfare University of California, Berkeley 510-642-7066 mjaustin@berkeley.edu August 2006 1 Table of Contents Introduction – Michael J. Austin, Guest Editor Part I Multiple Social Science Perspectives of Poverty Theories of Poverty: Findings from Textbooks on Human Behavior and the Social Environment Amanda J. Lehning, Catherine M. Vu, & Indira Pintak Economic Theories of Poverty Sun Young Jung & Richard Smith Sociological Theories of Poverty in Urban America Jennifer Price Wolf Psychological Theories of Poverty Kelly Turner & Amanda Lehning An Anthropological View of Poverty Kristine Frerer & Catherine Vu Political Science Perspectives on Poverty Amanda Lehning Theories of Global Poverty in the Developed and Developing World Jennifer Morazes & Indira Pintak Part II Theory Integration and Practitioner Perspectives Social Capital and Neighborhood Poverty: Toward an Ecologically-Grounded Model of Neighborhood Effects Kathy Lemon Osterling Social Work Students’ Perceptions of Poverty Sherrill Clark The Explosive Nature of the Culture of Poverty: A Teaching Case Based on An Agency-based Training Program Catherine Vu & Michael J. Austin 2 ...
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...ABSTRACT. The notion social class attains a well-defined theoretical content in the works of the classical political economists, who defined classes on the basis of the specific income form that each category of people (class) obtains. This approach to class constitutes a first form of a "friendly merger" between political economy and sociology. When combined with the classical labor value theory, it has led to a theory of class exploitation of the laboring class by the capitalist class. As economic theory became increasingly apologetic after the "Marginalist Revolution" (setting itself the aim of justifying capitalism), the theory of class has been totally banished from the corpus of "modern (neoclassical) economic science." This paper claims that the scientific elements inherent in classical political economy's class theory were preserved by the Marxist class theory, which further revolutionized the classical approach, creating a new, purely non-economistic and non-mechanistic "relationist" class theory, an d forming thus a vivid economic-sociological approach to social classes. On the basis of the Marxist approach, complex problems concerning the class structure of contemporary societies can be tackled. I Introduction THE THEORY OF CLASSES MAKES UP one of the most controversial chapters of the social sciences, in the sense that it comprises a forefront of confrontation between the different theoretical schools that are formulated within the field. To clarify what is to...
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...decision-making process influences the decisions that are reached. The standard economic theory is known as neoclassical economics. Neoclassical economics stops short of trying to explain where people’s preferences come from, but it does not take account of the direct influence of other people’s behavior and social standards on our behavior. The theory imagines we independently know what we want and that our preferences are permanent. This standard theory is very good at explaining short-term decision-making (I want green vegetables and choose beans as they are on special offer) but cannot explain longer-term changes in preferences (I now only choose organic food). Along the same lines the importance of institutions – both formal institutions such as regulations, and informal ones, for example, how people organise markets – and the evolution of the whole economic system are not subjects of neoclassical analysis. This has significant implications Behavioral economics has evolved to be a separate branch of economic analysis which applies scientific research on human and social, cognitive and emotional factors to better understand economic decisions by consumers, borrowers, investors, and how they affect market prices, returns and the allocation of resources. Behavioral economics is that branch of one, which deals with the study and application of analysis with scientific approach on social, emotional factors for understanding the consumers, investors and the market, and the...
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...people of America have not understood the context. The feeling is one that a person feels that there is something wrong within the American society. One yearns to go back to the ancient times when people care for themselves and others, where there was no crime and everyone was happy. He argues out that, such issues are important in the transformation of the modern society to one that is socially, economically moralistically and politically at peace with the people’s intrinsic perception of a collective utopia. Putman points out that the current trends in the social capital and civic engagement have been wiped out to a critical level. He explains that the modern society has become a cesspool of crime, immorality, inequality and utmost poverty among the American people. He goes further to relate the deviation of the social capital to the earlier mentioned ill activities in the society, while he associates the social capital increase to the some positive aspects like economic prosperity, education, democracy, children welfare, productive neighborhoods, safe welfare, proper healthcare and happiness to the people. The evidence that Putman mounts is unquestionable with regards to correlation, and he cautions that even mere correlation cannot be substituted for causation just automatically. In addition, the author of the book goes to the extent of discrediting all the existing critical objections that are based on the specific correlations that lead to causation. From the article, it...
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...What are the basic principles of Marxism as an IR theory? Marxist conception of international relations. The first thing to note is that there is not a Marxist conception of international relations. For pedagogical issues we talk about it, but what we will try to analyze is what has been the contribution that the Marxist theory has done in this field. This leads us to the study of the Marxist theorists: Marx, Engels, Lenin, Rosa Luxemburgo... Their methodological contributions to international analysis and the confrontation between the "official" theoretical statements of the Communist Party from the Soviet Union, personified in Stalin and the Trotsky's permanent revolution, that was silenced for years by the Soviet authorities. Finishing this topic with the contributions from authors in the Marxist sector that have given rise up to what is known as the dependency theory. It is important to understand that Marxism as theory and method has created a new paradigm in the study of international relations, since it led to overcome the traditional state-centric conception. For Marxism the state shouldn't be the center, the basic thing is the concept of the class struggle, and they make emphasis on the contradictions and antagonisms of the existing classes, based on the analysis of the production relations (who controls the production means and who don't). This involves considering the world is not divided into states but into antagonistic classes. Marxist defend the idea of historical...
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...Politics and Economics of the Third World viz a viz Theories of Development Student’s Name: Course: Tutor’s Name: 17/05/2013 Outline i. Abstract ii. Introduction iii. Literature Review iv. Method of Analysis v. Analysis vi. Conclusion vii. Works Cited Abstract This paper analyzes the politics and economics of the third world. It seeks to provide information about development and the steps that countries in the developing world ought to follow in order to attain economic development and growth. The rationale is that the countries in the developing world have continued to experience challenges that hinder growth. This study will use theoretical models of development and discuss various aspects of development and politics in the third world. Keys Words: Third World Development; Modernization; Globalization; Global South Introduction Various theories propose ways through which a developing country can achieve economic growth while at the same time attaining development. This has precipitated politics in the global south. This paper seeks to explore various development theories proposed by various authors. Besides, the paper will explore elements of economics that are pertinent to the third world countries. This is in recognition of the fact that many countries in the third world still grapple with poverty and slow economic development. From Immanuel Wallerstein to Rostow, the paper will...
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...Critical Perspectives on Accounting (1996) 7 , 409 – 435 RECONSIDERING THE ‘‘SOCIAL’’ IN POSITIVE ACCOUNTING THEORY: THE CASE OF SITE RESTORATION COSTS DEAN NEU AND CYNTHIA SIMMONS University of Calgary This paper seeks to challenge the hegemony of positive accounting theory explanations of managerial behaviour. We argue that the decontextualized perspective of positive accounting theory is limiting and that changing the perspective offers a more complete explanation of behaviour. Starting from the notion of social relations developed by Marx, we reinterpret positive theory variables as proxies for a subset of the social relations in which managers are embedded. From this perspective, a more inclusive explanation of behaviour can be obtained by considering the entire web of social relations that influence behaviour. To demonstrate the ‘‘cash value’’ of a social relations perspective, accounting for site restoration costs is used as an illustration. The results are consistent with a broad social relations perspective. ÷ 1996 Academic Press Limited Introduction ‘‘[I]t is clear there is a relation between firm’s accounting choice and other firm variables, such as leverage and size and the signs of the relations are mostly consistent across studies. Positive accounting research guided the search for empirical regularities and provided explanations for them. To date, there are no systematic alternative sets of explanations for those regularities articulated and tested...
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...residence of people within protected walls of a city. Thus, whoever belonged to a community residing inside the boundaries was considered a citizen. Later this term has acquired a different meaning and the standards and definitions of citizenship have changed. There were many reasons that have caused such changes: history proceeded with its migrations, wars and annexation and along on its way brought new meanings to citizenship. Such change in definition, for example, can be found in suffrage granted to women and the nonpropertied classes. Paupers, convicts and soldiers are another example of how political and civil rights were once a privilege of certain classes only (Dahrendorf, 1974, p. 11). With the introduction of mass democracy and social protection as well as introduction of welfare state a need in the new conception that would look on the relationship on an individual and the state appeared consequently. The norms of citizenship, therefore, have improved with the development of state and citizenship became a multination concept, which implies different things to different nations (Dahrendorf, 1974, p. 12). According to Michael Ignatieff (1995), the introduction of the welfare state can be explained as an attempt to make citizenship “a real as opposed to a purely formal experience” (Ignatieff, 1995, p. 67). The experience of World War Two has demonstrated that that the concept has to be changed and since then the “security” became of the main value for the new conception...
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...UNDERGRADUATE CURRICULA AND FACULTY 2007 – 2011 Proposed 2009 – 2013 2 Requirements for the BBA degree: Foundation Courses 40-41 Credits Core Courses 45 Credits Departmental Requirement 24 Credits Minor 15 Credits Total variable requirement for Graduation 124-125 Credits Foundation Courses Communication Skills ENG 101 ENG 102 ENG 105* ENG 106 ENG 202 Listening and Speaking Skills English Reading Skills Business English Advanced English Skills Introduction to English Literature 40-41 Credits 9 3 3 3 3 3 * Prerequisite ENG 101 & 102 Note: students not exempted from ENG 101 and ENG 102 will have to take ENG 101, ENG 102 and ENG 105. Note: students exempted from ENG 101 and ENG 102 will have to take ENG 105, ENG 106, ENG 202 Computer Skills CIS 101* CSC 101** Fundamentals of Computer System Introduction to Computer Science 3 3 3 * For students without basic knowledge of computer **For students with basic knowledge of computer & mandatory for students with Major in subjects offered from the SECS Numeracy MAT 100* MAT 210* Basic University Mathematics 1 Basic University Mathematics 2 6 3 3 3 *MAT 100 and MAT 210 mandatory for SLAS majors(English, Media & Communication, Anthropology) other than Sociology MAT 101* MAT 211* MAT 102* MAT 212* Intermediate University Mathematics II Probability and Statistics Introduction to Linear Algebra & Calculus Probability & Statistics for Sc. & Engr. 3 3 3 3 **MAT 101and MAT 211 mandatory for...
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...Participatory Development The theory of Participatory development represents an evolutionary process from the global, aspatial, top-down strategies that dominated early development initiatives to more locally sensitive methodologies.The idea of participation is heavily influenced by theories of development and is therefore highly varied and complex due to different theoretical positions.This paper tries to engage with various approaches to the participatory development theory based on the analysis of historical, ideological and practical record.It deals with the scholarly articles written by Sam Hickey, Giles Mohan, Kristian Stokke and Frances Cleaver. The dominance of the top-down approaches to development was largely a result of modernization theory which was dominant in the 1960s.Modernization theory tells that for developing countries to develop they need economic growth along the path already travelled by western countries.This has been heavily criticized and other development theories have highlighted disparities.From the modernization point of view participation meant involvement of the community in the delivery of the welfare programmes with the purpose of increasing the acceptance and efficiency.This conceptualisation of participation and empowerment is based on a harmony model of power.This implies that the empowerment of the powerless could be achieved within the existing social order without any significant negative effects upon the power of...
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...LaFarge Labor Force and Employment 06/07/2012 Employment, Social Capital, and Health: An Empirical Analysis The United States labor force has been undergoing massive changes in over the past 30 or so years. More people are working as the population continues to rise, but even more so people with more diverse backgrounds and demographics are entering the work force or clamoring for jobs, as how the economy is currently structured seems to predict that individuals who would like to enter the labor force won’t be able to. Sociologists White and Cunneen contend that “structural unemployment and underemployment, privatization of state services and withdrawal of income support” (White and Cunneen) inherently exist in neo-liberal ideologies, making this disparity between the employed and the unemployed seemingly unavoidable. With this increase in size and diversity of the labor force and the accompanying restrictions to entry, the effects of employment merit analysis. One could possibly make the argument that of employment's causal relationships, perhaps none are more important than employment's affect on one's health. Indeed, “occupational conditions have consequences for physical health outcomes” (Wickrama Lorenz 363). Further, “A central theoretical proposition of sociology states that social structural positions have dramatic effects on life chances” (Link...
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