Many people will do everything to get some money even the thing that can harm their lives. Some cannot live without money. It has been said that money makes the world go around. That's the main reason why people kill someone because they are greedy for money. Even we the students, we study hard so that we can get money in the future to buy our needs and wants. Even so I believe that money can't buy happiness. It is...
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There are regular discussions about how money makes people happier, which is more of a philosophical question, and this discussion topic can be deciphered from several perspectives without yielding a winner in the end, because each contention from both sides will not be correct, but will be a well-considered opinion. The Notion Behind Happiness Is happiness a defining moment in our life that arrives to fulfil or satisfy our needs? Is it a predisposition toward a fulfilment that gives us...
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Education is the hope for the development and success of most third world countries and the world dominates the country. Compulsory education creates a space for better growth and development. Education has the potential to completely change the course of a country: to train trained and educated young people. A country achieves its goal of economic growth at a higher rate and joins the list of alliances known as developed countries. A well-educated country will discard any obstacles that hinder...
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The COVID-19 pandemic has led to huge social and economic upheaval globally. In March 2020, the US 10-year breakeven rate (the market-implied average inflation rate over the next decade) reached 0.55%, when the world was peering into a deflationary abyss. Fast forward a little over a year, and investors have flipped from fears of persistent deflation, to fears of persistent inflation at levels not seen since before the Global Financial Crisis. The threat of sustained higher inflation not only has...
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The European Project has always been more or less ambiguous about its objective. The famous Schuman Declaration of 9 May 1950, considered to be the guiding principle behind the European project, is without doubt the clearest of the founding texts. It assigned the six signatory states the objective of achieving, through the European Coal and Steel Community, “the setting up of common foundations for economic development as a first step in the federation of Europe”. Federation was what it was...
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Karl Marx is undoubtedly the most prominent and well-known figure in anti-capitalist literature. His most famous piece of work, ‘The Communist Manifesto’, goes into very close detail about the class struggle and the exploitation by the few of the many. This essay will go into detail about Marx’s characterization of the relationships between classes in capitalist society. By looking at his thoughts on economic, social, and personal implications of the relationships between different classes in capitalism it will be much...
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Part of the objective of Securities and Exchange Board of India is to hold requirements for truthful and orderly markets. In order to help gain this goal, the Securities and Exchange Board of India regulates a range of stock market participants. These encompass the following: Stock Exchange An inventory alternate is an organized market that brings all the investors or merchants together. It enables the sale and buy of shares through unique shoppers and sellers. Most of the trading in...
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In an interview with the Harvard Gazette, Zuboff defined surveillance capitalism as “the unilateral claiming of private human experience as free raw material for translation into behavioral data; these data are then computed and packaged as prediction products and sold into behavioral futures markets business customers with a commercial interest in knowing what we will do now, soon, and later”, a practice that she goes on to define as just too lucrative to resist (Laidler, 2019). Surveillance capitalism can be...
5 Pages
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Compensation is an indispensable and widespread thing of the management procedure of each organization. Most corporations choose to fulfill their mission, gain their objectives and maximize return on their investment, especially on their human capital. Doing so requires that their compensation philosophy, design, transport and decisions be balanced, fair, focused, and understood by using their worker and plausible worker constituencies. Compensation is an indispensable and widespread thing of the management procedure of each organization. Most corporations choose to fulfill their...
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Whether you like it or not, money is quintessential in this life. Unfortunately, no longer anybody is aware of how to deal with money. People would frequently combat when it comes to dealing with money. In the contemporary situation of the world economy, it is very important to reduce your prices and be capable to keep money. Money administration is an essential ability to study because it can assist you to control your cash accurate except overspending and nonetheless have...
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The coronavirus pandemic is the first time that all economies across the world have faced such a severe global challenge since the recovery from World War II, and it would be fair to say that the UK have been among the worst affected. In this report, I will investigate how the UK Competitions and Markets Authority (CMA) have adapted to price rises in the economy, how they should ensure a strong recovery in the future, and then conclude whether it...
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To begin with, the issue of fairness arises with companies’ attempt to gain an advantageous market position through the exploitation of consumers’ unalterable needs in an unusual market condition (Crane et al., 2019:375). Thus, the justification to exploitative pricing’s fairness is being debated with the following two ethical theories. Firstly, consequentialism determines morality and ethicality solely based on consequences (Robertson and Walter, 2007). Utilitarianism, as a paradigm, asserts a universalism and maximalism view where ethicality depends on maximizing the greatest...
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The topic of exploitative pricing has been a long-standing theme irrespective of the world situation. However, due to the recent Covid-19 pandemic, the controversy of excessive pricing on unforeseen circumstances has become a central debate again. According to OECD (2020), attributable to the coronavirus, the business environment has been subjected to instability resulting in the disruption of supply chains. The insufficient production and difficulties in product distribution, simultaneously, with increased demand, has led to shortages in certain products (ibid). As...
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Capitalism as a self-destructing political, economic and social system is central to the understanding of Marx’s ideologies. By critiquing a structure that shapes the lives of many populations today, his work proves to still be extremely significant in offering an insight into capitalism and its implications. However, this assumption of capitalism inevitably self-destructing is one of which that is debated amongst scholars, usually in the light of how applicable it is in today’s societies. By examining his primary theses, I...
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In this essay I will begin by explaining psychological theories. Furthermore, I will evaluate how a care worker could use psychological theories to understand the behavior of an individual. Lastly, I will evaluate these psychological theories by looking at the strengths and weaknesses of each of them in regard to working with an individual. Erik Erikson and the Lifespan Theory is a psychological theory. Erik Erikson (1902-1979) was of the writers who developed the psycho-dynamic approach. He believed that there...
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Rewards and compensation play a vital role in motivating employees and improving performance in organization. A cautiously designed reward and compensation system can significantly increase the performance of employees resulting in organization's effectiveness and productivity. With the changing scene in the world of work today, a multifaceted reward and compensation system is required to meet the demands of the employees. According to Watson (2003) a reward is usually something valuable, such as money. Rewards serve in various ways in organizations....
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Zafar Iqbal and Ghulam Mustafa Zahid from the ‘Pakistan Development Review’ worked on the ‘Macroeconomic Determinants of Pakistan's Economic Growth’ in 1998. The study explores the effect on Pakistan's economic growth of some of the most significant microeconomic variables, such as education, physical growth and the budget deficit. A multiple regression method was used to analyze the period between 1959-60 and 1996-1997. According to quantitative evidence, primary education and economic openness are essential factors for accelerating growth. However, the budget...
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'Money cannot buy true happiness'. Some people may say that this adage is no longer relevant because in this 21st century, we can’t live without money and without money, we won’t be happy. However, I strongly think, that this adage is indeed valid and relevant. In fact, the predominant reason I choose this topic is that it is food for thought for all of us. Here is a story of a boy named Tom who was born with a silver...
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As the official currency used by the 27 member states of the European Union (EU), the euro is one of the main currencies traded by market participants and has an influence on global markets. Although it was launched since January 1, 1999, physically the euro was used on January 1, 2002. Since its introduction, only 19 member of European Union countries have directly used the euro as official currency and 8 other countries still use their local currency. Why don't...
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Minimum wage is the compensation payable to laborers as fixed by law. Should the minimum wage be raised? I have mixed emotions regarding this topic. If minimum wage is raised, it would hurt most organizations, there would be fewer open positions. I think if the minimum wage were raised from $7.25 it would probably hurt public and private entities. Especially during the pandemic, most companies are not flourishing. Raising the wages would mean bigger paychecks and those small businesses may...
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The word ‘money’ can be used in many different ways, but it has a very specific meaning to economists. Economists define money as anything that is generally accepted as payment for goods or services or in the repayment of debts. Just saying that money is currency is not a good enough definition for economists. Economists make a distinction between money in the form of currency, demand deposits, and other items that are used to make purchases, and wealth the total...
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The debate over how humane capitalism is and most probably will be never completely settled. However, in a lecture at Cornell University in 1977, Milton Friedman provides a different perspective. One that does not fault the systems of the economy itself, but the results the system encourages and the role of individual morality. He touches upon the social injustices that result from the economic systems and the benefit of voluntary exchange. Friedman is able to convey through analysis of different...
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Introduction to Minimum Wage History and Current Challenges In 1938 during the Great Depression, President Roosevelt established The Fair Labor Standards Act of 1938, which introduced the federal minimum wage to the United States. It was introduced as a way to stabilize the post-depression economy and as a way to protect workers in the labor force by establishing a certain amount of pay. In the beginning, the minimum wage was $0.25 per hour and has been raised twenty-two times since....
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Japan is a highly developed first world country and is currently (2019-2020) ranked the third largest economy in the world after China. Japan has gone through major economic success and challenges through the years but its ability to learn, adapt and combine the skills and knowledge acquired has enabled it to always hold and avoid. The paper below looks at the various changes that the Japanese economy underwent from the early 1600s to date. It also looks at the role...
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The period of nineteenth-century witnesses Europe’s revitalizing in efforts of revolution of the people amidst the rise of the industrial power resulting in a new kind class that gained a new force, a cultural movement driven by morale and most of all the non-elites fighting for their power. A revolutionary period, as it served as a place of series of pandemonium that wasn’t just of men but of the women of home. There is evidence of the women experiencing these...
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Between 1870 and 1914 the advantages and disadvantages of American society were equal to each other. The U.S. received more inventions that helped with electricity, help from immigrants, and the percentage of high school graduates went up. On the downside coal workers had to endure hazardous conditions, the Johnstown flood killed thousands of people, and children had to do adult’s work. In every seed of good there is always a piece of bad, but, alas, every rose has its thorn....
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Corruption is everywhere and will always be a part of our daily life. Whether it is minor, such as bribery, or a major one, like money laundering, we can’t deny its existence. According to Bardhan (1997), “Corruption is defined as the misuse of public power for private benefit” (p. 27). In the Philippines, the infamous and most extensive type of corruption is political corruption, which we hear and see almost every day on the news. Not only major politicians are...
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Credit cards have revolutionized the concept of spending and financial management in the modern world. This essay delves into the multifaceted world of credit cards, exploring their functionality, benefits, risks, and impact on personal finance. Credit cards, essentially a form of plastic money, offer users the convenience of purchasing goods and services with the promise of paying back the borrowed amount at a later date. They have become an integral part of financial transactions, providing a secure and flexible way...
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Along with the general elements of wage formation in developed countries, there are national differences. The specificity is typical, for example, for Japan, where the life-long employment system plays an important role. This system is associated with the existence of three types of tariff rates in Japanese companies - personal, labor and synthesized. Personal rate is associated with lifetime employment and is established on the basis of a combination of a number of characteristics, the most important of which are...
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Money is undeniably vital in life. You can’t pay your bills and nourish your family on just love and passion, and this a cruel truth. When we are talking around career development, we are talking about people who are prepared to win less in arrange to contribute in their expertise improvement and network, which in turn helps them to gain much more afterwards. Further, I am of the belief that happiness derived from money is frequently short lived. The day...
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