The aim of this assessment will be to focus on evaluating how the capitalist economic system has impacted the living standards, and whether it has delivered a widespread improvement. Since a capitalist economic system is frequently referred to a system which discusses private property, markets and firms, as well as explaining how a country’s industries and trades are controlled by...
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SME stands for small or medium sized enterprises. Munro D. (2013) touches upon the distinctive requirements a company needs to be defined as one, for example, a company can only be categorized as an SME in the UK if the amount of staff working for them is below 250, and the total amount received from the Statement of Financial Position...
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This short paper will focus on the studies and the beliefs that intellectuals such as Max Weber and John Maynard Keynes devoted their lives to. Theorists and sociologists alike have played a very important part of our everyday modern lives. There works and achievements have allowed us as a civilization to effectively understand how to properly communicate with our environment...
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In life, each individual has a set of goals that he wants to reach. One of those goals is having a good job. In fact, according to an expert, having an employment is the only thing that helps the person develops his life. In contrast, the act of losing a job impacts negatively on the person’s life. Because of normal...
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Historians in the 1980s hoped that studies of categories of analysis would illuminate subjects that had previously been obscured. Joan Scott foregrounded gender in particular as one of these useful categories. ‘Gender’ has been widely substituted for ‘women’ in the labelling of this type of history which ultimately makes sense since the same cultural processes produced both ‘women’ and ‘men’....
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Employment law is composed of both federal and state laws to ensure that they provide legal protection to employees and employers. It is set up to ensure that legal guidelines and standards are met by preventing discrimination, promote health and safety, establish a minimum for economic support and to prevent work disputes between labor and management. While I was researching...
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The main international economic institutions are the IMF, the World Bank, and the WTO (Barkin, 2013). Each has an area of specialization and focus and can be complementary to the others. These three institutions are organizations that they, or their principles, were set up after the Second World War in the Bretton-Wood Conference (Ravenhill, 2016). This essay will be focusing...
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Work is an important versatile concept of our daily lives. According to Budd (2011), the definition of work is a “purposeful human activity involving physical or mental exertion that is not undertaken solely for pleasure and that has economic or symbolic value”. There are numerous conceptualizations of work as there is no single ‘correct conceptualization’ that would be true for...
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Career has two meanings. Career is mostly used to refer to a chosen profession or employment, or an occupation. Career options encompass a wide variety of occupations from those needing rigorous preparation and schooling to those you can perform with just a high school diploma, ability to learn and work ethic. A profession may mean working as a doctor, lawyer,...
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Globalization has changed the employment market into a multi-cultural one which begs for a clear recognition of cultural differences. These differences need to be understood, recognized and considered especially when implementing HR practices such as recruitment and selection and performance management (White, 2015). As Ulrich (Ulrich, 1998) put it: “Globalization requires organizations to move people, ideas, products and information around...
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The Cold War A hot war has physical fighting. In a cold war, there is not. The Cold War refers to the time after WW2 when there were tensions between the USA and its allies and the USSR and their allies. USA Capitalism vs USSR Communism The Soviet Union and the USA had different ideologies (a system of ideas and...
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Obesity has been a big problem in the UK because the government hasn’t taken control over the consumption of sugary goods, especially sugary drinks. Market failure is created when the allocative efficiency is not used in its maximum efficiency. So, when community surplus is not maximized, we have market failure. A certain product is either over or under produced. Merit...
237
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The situation of employment within the world is fast changing in all aspects. New sectors are emerging daily and the ones previously thought as stable are dying out. Permanent types of employment have become challenging and are now replaced by insecure and uncertain self-employment and contract work. Based on the works of Lewchuk and other authors in the book ‘The...
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“Nobody spends somebody else’s money as carefully as he spends his own…”, – Milton Friedman. Taxation, a means by which governments finance their expenditures by imposing charges on citizens and corporate entities, is used according to the ACCA (2013) for one of three reasons: to raise revenue, to redistribute wealth, and to change behavior. This essay will focus on income...
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Hong Kong has been relying on its simple and low tax system for several years to attract talent and capital in order to maintain competitiveness. Are there any flaws in our tax regime? In order to investigate the strength and weakness of our taxation system, we have explored seven key criteria of a good taxation system. The purpose is to...
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Adam Smith was an eighteenth-century scholar eminent as the dad of modern economics, and a noteworthy defender of free enterprise monetary arrangements. In his first book, 'The Theory of Moral Sentiments', Smith proposed the possibility of an undetectable hand—the inclination of free markets to manage themselves by several methods such as rivalry, free market activity, and personal responsibility. Smith is...
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Most of the public discussion and literature about economic development and education generally, most especially employment and education, is based on two major economic processes. First, is the interaction between the politically responsive supplies and the demands that are economically motivated in determining the number of schools provided, who can access these places, and the kind of instruction given. Second,...
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Many organizations are benefiting from us. They are promoting a lot of unhealthy food at a very low price, taking benefit from it by having us to agree with a ridiculous idea that it’s good for us to purchase these unhealthy products. Big Food Brands like Anheuser Busch, Nestlé, and PepsiCo are responsible for using this tactic manipulating people of...
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Since the catastrophic global financial crisis, which was directly caused by the burst of the housing bubble and mortgage default, in 2008, the Federal Reserve alone has injected roughly 7.6 trillion dollars into the global economy by the end of 2019 in order to facilitate the recovering of the economy and mitigate recessions. An alternative asset which is called digital...
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One of the most important questions that has to be raised is whether it is right or even ethical for smokers to pay a high amount of tax on tobacco or not. Or even whether individuals who live a healthy lifestyle and don’t smoke are forced to pay a cost for something that they never even did. There are 3...
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Poverty is an increasing issue in modern day that stems from wealth inequality. Families that hold wealth throughout generations are making an increasing gap in income in the United States which is making the poor even more poor. Poverty can have several negative effects on a person’s long-term health, including heart attacks, inflammatory diseases, and even can attribute to a...
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In America today, there is a constant conversation about taxing the rich. They’re arguments on both sides of the coin. As of right now, since taxes are based on percentages, wealthy citizens should not be required to pay higher taxes because they fairly earned their money and they should get to keep it. On the other hand, some people believe...
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At the end of 2017, President Trump signed into law one of the largest tax code overhauls since the 1980s. The President assured taxpayers that this bill included a simpler and more reformed tax code, protection for lower- and middle-income Americans and cuts for corporations that would in theory spur investment and economic growth. Once implemented, however, this bill disproportionately...
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Aptly described by WHO as an ‘escalating global epidemic’ (WHO, 2002), the burden of obesity on communities is self-evident: an estimated 3 million deaths and 2 trillion dollars in medical costs (Dobbs et al., 2014). To address the challenge member nations have introduced tax policies to regulate people’s nutrition. The phraseology ‘junk food’ is attributed to sugar sweetened beverages and...
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In this essay I'm going to be discussing the following: why the government has introduced a sugar tax and the results of this initiative, future plans to increase this scheme as well as potential alternate methods to improving the nation’s health without punishing the consumer. The government last year joined the ranks of many other nations around the world in...
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Tourism is a critical source of income for many countries but for Scotland in particular, it is a major source of revenue. Yet a substantial part of the money made from tourism does not go to the local council or benefit the whole population. Instead, the money is going into the hands of accommodation providers, cafes, restaurants and retail outlets....
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The federal government collects revenue from income taxes, capital gains taxes, and payroll taxes. Tax rates depend on income types. Income taxes are progressive – that is, initial dollar amounts are taxed at a lower rate and additional dollars are taxed at higher rates. Income from investments (capital gain) is taxed at a flat 15%. Payroll taxes are charged at...
205
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Implementing tax on sugar-sweetened beverages was correlated with substantial increase in soda rates and decrease significant consumption of aerated drinks, sweet teas, flavored water, and sport drinks. In Australia people are getting fat since childhood caused by eating too much unhealthy processed food which address complex disease called obesity. World Health Organization (WHO) suggests that obesity is a risk factor...
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Globalization is the higher integration, cooperation, togetherness of various nations in numerous fields like defense, trade, business, politics etc. It is the strong interconnection between nations all over the world. Globalization also works in other various essential elements like competitively priced, social and environmental etc. If we speak about economic globalization, it deals with the increasing drift of products and...
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Automation is a process through which technology and applications are used to carry out the work efficiently and reliably instead of being carried out by humans manually ('What is Automation?', ISA, 2020). Automation helps to efficiently carry out repetitive task which otherwise needed to be done by human manually and by doing so automation helps to save time and cuts...
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