Globalization and the Digital Divide Essay

Do Unions Have Any Kind of Future In Australia Essay

Do Unions Have Any Kind of Future In Australia - Essay Example This will be an ideal opportunity to produce a worldwide association between creating worldwide organization among created and creating nations to guarantee that work development arrangements are set up to stop the scourge of our occasions - expanding joblessness, neediness and disparity' - said ICFTU President Sharan Burrow. The significant enterprises of the world are bouncing far and wide looking for the most minimal cost laborer. The ITES has implied that the created world will lose greater business chances to creating nations where wages are modest and working conditions can be severe. The west and the remainder of the created world previously bothered with rising joblessness will see a more terrible future. The 'worldwide workforce' if at all one emerges will require all the more such gatherings and arrangements to get things going - for a superior tomorrow. The Unions around the globe have underlined on the requirement for aggregate dealing. They are fundamentally made out of talented and semi-gifted specialists. Be that as it may, participation figures fluctuate generally with the business being referred to. The issue has especially tormented Australia in segments, for example, wellbeing in light of the fact that an enormous number of wellbeing laborers from the federation nations are available in these parts. In any case, what do associations do Changes in the structure and nature of work The Unions look for changes in the structure of work so the work is less tedious and agreeable to the specialist. Further the associations ensure that the working conditions are likewise perfect. Associations structure and individuals rush to go along with them for some reasons. They feel that their complaints will be reviewed by the aggregate bartering intensity of the associations. A few individuals likewise select for ideological issues, for example, the communist reason and the counter private enterprise battle. The Webbs characterizes that associations emerged when the extraordinary heft of laborers had stopped to be free makers, themselves controlling the procedures, and claiming the materials and the result of their work, and had gone into the state of long lasting breadwinners, having neither the instruments of creation nor the item in its completed state (Webbs, 1920: 25). In the 1920's Perlman expressed thatTrade unionism, which is basically down to earth, battles continually, not just against the businesses for an amplified open door estimated in salary, security, and freedom in the shop and industry, however battles likewise, regardless of whether intentionally or unwittingly, effectively or simply latently, against the scholarly who might outline its projects and shape its strategies (1928: 5). Allan Flander says of Unions that 'The first and superseding duty of all worker's guilds is to the government assistance of their own individuals. That is their essential responsibility; not to a firm, not to an industry, not to the country. An association gathers its individuals' commitments and requests their faithfulness explicitly to ensure their inclinations as they see them, not their claimed 'valid' or 'eventual benefits' as

Books to Read Based on Your Favorite Member of the Baby-Sitters Club!

Books to Read Based on Your Favorite Member of the Baby-Sitters Club! Ive always been more interested in fictional clubs than real ones. There are many I longed to join or recreate growing up. The Pickwick Club from Little Women.  The Souls from E.L. Konigsburgs  The View from Saturday.  Dumbledores Army. But Ive never wanted to be part of any club as much as I wanted to be part of the baby-sitters club. I didnt even like babysitting that much, but I adored the series by Ann M. Martin. The girls independence and confidence left me in awe. I felt jealous of their friendship. I dont think I knew how much I admired their entrepreneurship at the time…but I did. Those girls were bosses, every single one of them (even Mary Anne). If you similarly, loved the BSC gang here are some book recommendations based on your favorite club member. Kristy amanda thomas, club president #GIRLBOSS  by Sophia Amoruso, because even though all the babysitters are bosses, Kristy is the boss of the baby-sitters club. If entrepreneurship and strong women are your jam, then you should check out the advice from the CEO of the Nasty Gal fashion empire. Year of Yes  by Shonda Rhimes features another boss. This is a memoir from the television-changing creator and producer of shows like Greys Anatomy, Scandal, and How to Get Away With Murder. A Season of Daring Greatly  by Ellen Emerson White is a young adult novel about a girl who becomes the first woman drafted by a major league baseball team. As a competitive athlete and coach of the kids softball team, Kristys Krushers, I can only assume she would approve. claudia lynn kishi, Vice President Ill Give You the Sun  by Jandy Nelson tells the story of two artistic siblings. Claudia Kishi was all about her art. In another fictional crossover universe, I think shed like hanging out with Jude and Noah. The Education of Margot Sanchez  by Lilliam Rivera, features another PoC fashion-obsessed teen. Just like Claudia, Margot must balance her familys values with her mostly-white community at school. Magpie Murders  by Anthony Horrowitz is about a book editor who has no idea that reading a manuscript will lead to a murder and a mystery only she can solve. As a massive Nancy Drew fan, we can assume this book would be Claudia-approved. mary anne spier, Secretary Quiet  by Susan Cain is the go-to book to learn about introversion. Mary Anne is the shy, sensitive, and yes, quiet babysitter of the bunch. But this doesnt stop her from having fun with her friends, dating Logan, or going on adventures with the kids she watches. The Idiot  by Elif Batuman combines self-discovery and first romance against the backdrop of Harvard in 1995, when email was new. The quiet, self-reflection of Selin, the main character, reminded me of what Mary Anne might have grown into. I Believe in a Thing Called Love  by Maurene Goo is about high school senior, Desi Lees quest to find her first boyfriend using steps from Korean soap operas. Mary Anne didnt have to go through quite so many steps to win Logan over. But Desi and Mary Anne do share good handwriting, excellent organizational skills, and a touch of social awkwardness. stacey elizabeth McGill, treasurer The Light We Lost  by Jill Santopolo sets a multi-year love triangle against the backdrop of New York City. What could be a better book for fans of Stonybrooks boy crazy, New York transplant? Add in main character Lucys ambition to create childrens television, and its a perfect match! Modern Romance  by Aziz Ansari and Eric Klinenberg is basically the social-science bible of contemporary dating. It mixes the humorous observations of Aziz with hard data and sociological trends on how technology and expectations have changed modern courtship. Hidden Figures  by Margot Lee Shetterly brings to light the extraordinary contributions of three black, female mathematicians during the space race. Stacey was more than just a thirteen-year-old man eater, she was also good at math. She is the club treasurer after all and a member of the Stonybrook Middle School Mathlete Club. Dawn Read Schafer, Alternate officer Where I Was From  by Joan Didion is a quintessentially Californian book, and Dawn is the clubs California girl. The book combines memoir with journalism to showcase many different California stories. Ranging from romanticized myths to harsh realities, Didion portrays numerous perspectives of the state. The Secret Life of Trees by Peter Wohlleben uses scientific discovery to argue that trees are social beings and, in some ways, resemble human families. Dawn is an avid environmentalist, Im sure shed love quoting facts from this book to the rest of the club in-between scolding Claudia for her junk food addiction. Girl Out of Water  by Laura Silverman tells the story of Anise, a California surfer girl forced to move away from for the summer. Anise is also good with kids and spends the summer babysitting her little cousins. Much like the push and pull of Dawns decision to move back to California, by summers end Anise isnt sure if she wants to go back. mallory pike, Junior Officer Bird by Bird  by Anne Lamott is a beloved guide to writing and life. Chances are if you liked Mallory best, you are a writer or aspiring one. Lamott will help you figure out where to start writing, while portraying the reality of a writers life. My Life Next Door by Huntley Fitzpatrick shows the unfolding of a summer romance between Samantha, an only child, with the boy next door and his entire family of eight siblings. Eight! Just like Mallory! The hilarious chaos of the family scenes in this book have definite Pike vibes. The Thirteenth Tale  by Diane Setterfield has been called a love letter to reading. This certainly feels on brand for the literary Mallory. In this book, a reclusive author summons a biographer to reveal childhood mysteries. This encounter will change both of their lives. Jessi Davis Ramsey, Junior Officer Tiny Pretty Things  by Sona Charaipotra and Dhonielle Clayton puts us in the world of a diverse, ballet school melodrama. Luckily Jessi never faced anything quite this sinister in her ballet training, but the pressure and commitment to perfection definitely feel familiar. Life in Motion: An Unlikely Ballerina  by Misty Copeland is the memoir of first African-American principal ballerina with the American Ballet Theatre. Its a beautiful story weighing the gifts and sacrifices Mistys had to make to fit into the mostly white world of ballet. You Cant Touch My Hair  by Phoebe Robinson is a collection of essays from the comedian about gender and race. While Stonybrook often felt like a utopia, Jessi and her family experienced many instances of racism throughout the series. Its hard to imagine that one of the baby-sitters club members didnt touch Jessis hair without asking at some point. It was Connecticut in the eighties after all. Sign up to The Kids Are All Right to receive news and recommendations from the world of kid lit and middle grade books.

The Great Gatsby By F. Scott Fitzgerald Essay - 906 Words

Materialism in the Great Gatsby America has been labeled The land of opportunity, a place where it is possible to accomplish anything and everything. This state of mind is known as The American Dream. The American Dream provides a sense of hope and faith that looks forward to the fulfillment of human wishes and desires. This dream, however, originates from a desire for spiritual and material improvement. Unfortunately, the acquisition of material has been tied together with happiness in America. Although The American Dream can be thought of as a positive motivation, it often causes people to strive for material perfection, rather than a spiritual one. This has been a truth since the beginnings of America, such as the setting of F. Scott Fitzgerald s novel, The Great Gatsby, which is an example of this set in the 20 s. The characters in this novel are too fixed on material things, losing sight of what is real. In the book the Great Gatsby, none but a few people had the idealistic â€Å"American Dream†. To so me characters it seems the â€Å"American Dream† has been replaced by materialism and greed. What does the American Dream mean? What does it stand for? If a person has achieved their American Dream how should they go about living? The American Dream is the vision to be successful and to provide from and family the best way you can. Their dream is to also have money. In the book the Great Gatsby there are many characters with money. Someone who assume they have reallyShow MoreRelatedThe Great Gatsby by F. Scott Fitzgerald1393 Words   |  6 PagesF. Scott Fitzgerald was the model of the American image in the nineteen twenties. He had wealth, fame, a beautiful wife, and an adorable daughter; all seemed perfect. Beneath the gilded faà §ade, however, was an author who struggled with domestic and physical difficulties that plagued his personal life and career throughout its short span. This author helped to launch the theme that is so prevalent in his work; the human instinct to yearn for more, into the forefront of American literature, where itRead MoreThe Great Gatsby By F. Scott Fitzgerald1343 Words   |  6 PagesHonors English 10 Shugart 18 Decemeber 2014 The Great Gatsby F. Scott Fitzgerald s 1925 novel The Great Gatsby is a tragic love story, a mystery, and a social commentary on American life. The Great Gatsby is about the lives of four wealthy characters observed by the narrator, Nick Carroway. Throughout the novel a mysterious man named Jay Gatsby throws immaculate parties every Saturday night in hope to impress his lost lover, Daisy Buchanan. Gatsby lives in a mansion on West Egg across from DaisyRead MoreThe Great Gatsby By F. Scott Fitzgerald1155 Words   |  5 PagesThe Great Gatsby The Jazz Age was an era where everything and anything seemed possible. It started with the beginning of a new age with America coming out of World War I as the most powerful nation in the world (Novel reflections on, 2007). As a result, the nation soon faced a culture-shock of material prosperity during the 1920’s. Also known as the â€Å"roaring twenties†, it was a time where life consisted of prodigality and extravagant parties. Writing based on his personal experiences, author F. ScottRead MoreThe Great Gatsby By F. Scott Fitzgerald1166 Words   |  5 Pagesin the Haze F. Scott Fitzgerald lived in a time that was characterized by an unbelievable lack of substance. After the tragedy and horrors of WWI, people were focused on anything that they could that would distract from the emptiness that had swallowed them. Tangible greed tied with extreme materialism left many, by the end of this time period, disenchanted. The usage of the literary theories of both Biographical and Historical lenses provide a unique interpretation of the Great Gatsby centered aroundRead MoreThe Great Gatsby by F. Scott Fitzgerald845 Words   |  3 PagesIn F. Scott Fitzgerald’s novel, The Great Gatsby, colors represent a variety of symbols that relate back to the American Dream. The dream of being pure, innocent and perfect is frequently associated with the reality of corruption, violence, and affairs. Gatsby’s desire for achieving the American Dream is sought for through corruption (Schneider). The American Dream in the 1920s was perceived as a desire of w ealth and social standings. Social class is represented through the East Egg, the WestRead MoreThe Great Gatsby By F. Scott Fitzgerald Essay970 Words   |  4 Pagesrespecting and valuing Fitzgerald work in the twenty-first century? Fitzgerald had a hard time to profiting from his writing, but he was not successful after his first novel. There are three major point of this essay are: the background history of Fitzgerald life, the comparisons between Fitzgerald and the Gatsby from his number one book in America The Great Gatsby, and the Fitzgerald got influences of behind the writing and being a writer. From childhood to adulthood, Fitzgerald faced many good andRead MoreThe Great Gatsby By F. Scott Fitzgerald2099 Words   |  9 Pagesauthor to mirror his life in his book. In his previous novels F. Scott Fitzgerald drew from his life experiences. He said that his next novel, The Great Gatsby, would be different. He said, â€Å"In my new novel I’m thrown directly on purely creative work† (F. Scott Fitzgerald). He did not realize or did not want it to appear that he was taking his own story and intertwining it within his new novel. In The Great Gatsby, by F. Scott Fitzgerald, he imitates his lifestyle through the Buchanan family to demonstrateRead MoreThe Great Gatsby By F. Scott Fitzgerald1607 Words   |  7 Pages The Great Gatsby is an American novel written in 1925 by F. Scott Fitzgerald. One of the themes of the book is the American Dream. The American Dream is an idea in which Americans believe through hard work they can achieve success and prosperity in the free world. In F. Scott Fitzgerald s novel, The Great Gatsby, the American Dream leads to popularity, extreme jealousy and false happiness. Jay Gatsby’s recent fortune and wealthiness helped him earn a high social position and become one of the mostRead MoreThe Great Gatsby By F. Scott Fitzgerald1592 Words   |  7 PagesMcGowan English 11A, Period 4 9 January 2014 The Great Gatsby Individuals who approach life with an optimistic mindset generally have their goals established as their main priority. Driven by ambition, they are determined to fulfill their desires; without reluctance. These strong-minded individuals refuse to be influenced by negative reinforcements, and rely on hope in order to achieve their dreams. As a man of persistence, the wealthy Jay Gatsby continuously strives to reclaim the love of hisRead MoreThe Great Gatsby By F. Scott Fitzgerald1646 Words   |  7 PagesThe 1920s witnessed the death of the American Dream, a message immortalized in F. Scott Fitzgerald’s The Great Gatsby. Initially, the American Dream represented the outcome of American ideals, that everyone has the freedom and opportunity to achieve their dreams provided they perform honest hard work. During the 1920s, the United States experienced massive economic prosperity making the American Dream seem alive and strong. However, in Fitzgerald’s eyes, the new Am erican culture build around that

Essay on The Word Love is Misunderstood - 563 Words

The word love is usually misused or misinterpreted. There are numerous meanings and definitions to this overly used word. Not many of them make much sense to me. Love is a feeling of complete bliss. Love is something that can’t be touched or bought, but is something that is much better than money and earthly objects. I can stay here and describe love all day long and still have so much more to say about this word days later. Love isn’t a word that should be used lightly, but usually is. I believe that love is the most commonly used, but most understood word ever known Some people get the word love mixed up with lust. People do this because they tend to forget that when in love, sex is never a necessity but an accessory to the feeling.†¦show more content†¦The reason for that is they are overwhelmed with that stage of euphoria. Here is an example of how often the word love is misused. A man is walking down the road and sees a beautiful woman, he feels as if heâ €™s knocked off of his feet. He approaches this woman and tells her how much he loves her. The woman in return, slaps him and walks away. He then decides to give up and goes home. If this man was in truly in love he would never have given up. He would never have given up for the simple reason that when love is concerned, giving up or quitting is never an option. When love is truly used correctly there is no turning back and there are no regrets. The word love according to wordnetweb, is defined as a strong positive emotion of regard and affection. That definition does no justice to this word. I define love as a state of complete euphoria. I say this because that is how I feel about that word and the feeling it gives. In all truth I don’t believe the word love can ever be correctly defined. I say this because every person has their personal definition for this lovely word. Some people believe love is when the person in love would do anything for the other and expect nothin g in return. I think that is completely and utterly wrong. When in love something should be expected in return. I say this simply because it makes no sense to be in love alone. I’m not talking about earthly objects such as jewelry, clothes, or money.Show MoreRelated Comparing the Forgotten God of Love in Robert Bridges’ Poem EPÙÓ and Anne Stevenson’s Poem Eros852 Words   |  4 PagesComparing the Forgotten God of Love in Robert Bridges’ Poem EPÙÓ and Anne Stevenson’s Poem Eros It is often—in books, poems, paintings, and sculptures—that one hears of and sees the goddess of love. But when is it that one hears of the god? In Greek mythology, Eros is the god of love, and a god who is many times overlooked. In Robert Bridges’ â€Å"EPÙÓ† and Anne Stevenson’s â€Å"Eros†, the idea that Eros is overlooked is portrayed, but in two separate ways. Techniques such as diction, imagery, andRead MoreCurleys Wife Misunderstood Character Analysis1471 Words   |  6 PagesIt was very different to be misunderstood in the 1930’s vs today. Curley’s wife is the most misunderstood character in the novel ‘Of Mice And Men’ by John Steinbeck. This is clear when the reader studies the book from her point of view. She is innocent, lonely and defensive in a way that readers see as mean and tart. In real life, we should not judge or exclude someone because of a first impression, yet that is exactly what happ ens in this book. Curley’s Wife is described as wearing suggestive clothingRead MoreSermon On The Mount Is The Most Misunderstood Part Of The Bible1587 Words   |  7 Pagesthe most misunderstood part of the Bible. Not only is it misunderstood it is also misapplied. There is great danger in not understanding the Sermon on the Mount in its context, and therefore, we lose how to apply this sermon to our lives. One of the reasons the sermon is misunderstood is because the main point of the sermon is not understood. The Sermon on the Mount is not dealing with a legalistic system of morality. It is easy to turn this sermon into do’s and don’ts. In other words, you needRead MoreNot Waving but Drowning943 Words   |  4 Pagesshows us that everybody is in danger of feeling isolated and misunderstood and could also emphasise the difference between the drowning man and those around him. The phrase, ‘Nobody heard him’, shows lack of communication and that the man was misunderstood by the poet and those around him. In the first line he is described as the dead man and we might ask ourselves whether he has always failed to exist for those around him. The word ‘moaning’, can indicate that the man is still crying out forRead MoreEssay on Response to Self-Reliance by Ralph Waldo Emerson883 Words   |  4 Pagesâ€Å"Self-Reliance†, Ralph Waldo Emerson provides a beautiful way of approaching these choices, and he reveals a very inspiring set of values cen tralized around going through life answering only to yourself. I love the way Emerson evaluates the society we live in, and how he radically encourages being misunderstood and nonconformist. Emerson, like myself, exhibits values of saying exactly what you think and living only by what you believe to be the best. If I can successfully shape my life around ideas ofRead MoreThe Denotation Of The Term Hatred921 Words   |  4 Pagesdenotation of the term hatred is intense dislike or ill will (Oxford). Commonly, the word is used to describe a dislike for an object or place. But, often times, it is used as an emotion or feeling. Therefore, it is often misunderstood that individuals simply do not care for or like whoever is receiving the punishment. On the contrary, when discussing the term as a feeling, hatred is a secondary emotion closely related to love or admiration. While they seem to be opposites, the extreme emotions are notRead MoreThe Divine Design And Plan Of God1544 Words   |  7 PagesIntroduction: It is the divine design and plan of God that fathers are the leaders in their home. There are no exceptions to this, God has clearly said in His Word that fathers are leaders. The success of the marriage and family rests on his shoulders. It is true that in our society, fathers are passive, indifferent, and do not exemplify this God ordained role that has been given to them. We have a lot of husbands who are indifferent to what God has called them to do and pass the responsibilityRead MoreWilliam Shakespeare s Romeo And Juliet1423 Words   |  6 PagesWhen one thinks of the word â€Å"love,† the idea of romance often comes to mind. Therefore, platonic love (non-romantic love) is often forgotten, though it is equally as strong as its romantic counterpart, and can lead to consequences much more tragic. Such is the case with William Shakespeare’s Romeo and Juliet. Despite the dominating romance between the two young lovers, as the play progresses, one would realize that the platonic love of those around Romeo and Juliet, though no one can be at faultRead MoreThe Friday Sermon On Salvation1473 Words   |  6 Pagessubject in Christian belief. It is in fact the truth that founded Christianity. However, many Christians do not know or correctly understand the true significance of salvation. As a result, most Christians like the ones in Quebec refuse to know the word of God and openly show hatred towards God and Christian religion. Why do they hate Christianity? Because they think that God predestined everything including the evil- that is why they hate God. But most of all they hate God because they live theirRead MorePeace, Love, Unity, Respect Essay664 Words   |  3 Pagesout of their windows? Certainly the average Joe would have a few choice words about the situation. Funny enough, America is known as the land of the free, but ironically we are still fighting the restrictions of social enclosure. Our society spews its conformist values on anything it surrounds, and in the moment that one seems different, we quiver. Amongst these individuals are ravers, members of a grossly misunderstood sub-culture that often encounters stereotypical generalizations. However

Law of Diminishing Marginal Utility free essay sample

The law of diminishing marginal utility describes a familiar and fundamental tendency of humanbehavior. The law of diminishing marginal utility states that: â€Å"As a consumer consumes more and more units of a specific commodity, the utility from the successiveunits goes on diminishing†. Mr. H. Gossen, a German economist, was first to explain this law in 1854. Alfred Marshal later onrestated this law in the following words: â€Å"The additional benefit which a person derives from an increase of his stock of a thing diminishes withevery increase in the stock that already has†. The law of diminishing marginal utility is based upon three facts. First, total wants of a man are unlimitedbut each single want can be satisfied. As a man gets more and more units of a commodity, the desire ofhis for that good goes on falling. A point is reached when the consumer no longer wants any more units ofthat good. * Secondly, different goods are not perfect substitutes for each other in the satisfaction ofvarious particular wants. We will write a custom essay sample on Law of Diminishing Marginal Utility or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As such the marginal utility will decline as the consumer gets additional units ofa specific good. Thirdly, the marginal utility of money is constant given the consumer’s wealth. The basis of this law is a fundamental feature of wants. It states that when people go to the market for thepurchase of commodities, they do not attach equal importance to all the commodities which they buy. Incase of some of commodities, they are willing to pay more and in some less. There are two main reasons for this difference in demand. (1) the linking of the consumer for the commodity and (2) the quantity of thecommodity which the consumer has with himself. The more one has of a thing, the less he wants theadditional units of it. In other words, the marginal utility of a commodity diminishing as the consumer getslarger quantities of it. This, in brief, is the axiom of law of diminishing marginal utility. This law can be explained by taking a very simple example. Suppose, a man is very thirsty. He goes tothe market and buys one glass of sweet water. The glass of water gives him immense pleasure or we say Handouts by: Sachin Pourush * 2. the first glass of water has great utility for him. If he takes second glass of water after that, the utility willbe less than that of the first one. It is because the edge of his thirst has been blunted to a great extent. Ifhe drinks third glass of water, the utility of the third glass will be less than that of second and so on. The utility goes on diminishing with the consumption of every successive glass water till it drops down tozero. This is the point of satiety. It is the position of consumer’s equilibrium or maximum satisfaction. If theconsumer is forced further to take a glass of water, it leads to disutility causing total utility to decline. Themarginal utility will become negative. A rational consumer will stop taking water at the point at whichmarginal utility becomes negative even if the good is free. In short, the more we have of a thing, ceterisparibus, the less we want still more of that, or to be more precise. â€Å"In given span of time, the more of a specific product a consumer obtains, the less anxious he is to getmore units of that product† or we can say that as more units of a good are consumed, additional units willprovide less additional satisfaction than previous units. The following table and graph will make the law ofdiminishing marginal utility more clear. Units Total Utility Marginal Utility1st glass 20 202nd glass 32 123rd glass 40 84th glass 42 25th glass 42 06th glass 39 -3From the above table, it is clear that in a given span of time, the first glass of water to a thirsty man gives20 units of utility. When he takes second glass of water, the marginal utility goes on down to 12 units;When he consumes fifth glass of water, the marginal utility drops down to zero and if the consumption ofwater is forced further from this point, the utility changes into disutility (-3). Here it may be noted that the utility of then successive units consumed diminishes not because they arenot of inferior in quality than that of others. We assume that all the units of a commodity consumed areexactly alike. The utility of the successive units falls simply because they happen to be consumedafterwards.The law of diminishing marginal utility can also be represented by a diagram. Handouts by: Sachin Pourush 3. In the figure (2. 2), along OX we measure units of a commodity consumed and along OY is hown themarginal utility derived from them. The marginal utility of the first glass of water is called initial utility. It isequal to 20 units. These assumptions are asunder:(i) Rationality: In the cardinal utility analysis, it is assumed that the consumer is rational. He aims atmaximization of utility subject to availability of his income. (ii) Constant marginal utility of money: It is assumed in the theory that the marginal utility of moneybased for purchasing goods remains constant. If the marginal utility of money changes with the increaseor decrease in income, it then cannot yield correct measurement of the marginal utility of the good.

Scarlet Letter Story Essays - The Scarlet Letter, Hester Prynne

Scarlet Letter Story "No man, for any considerable period, can wear one face to himself and another to the multitude without finally becoming bewildered as to which may be true. In Nathaniel Hawthorne's The Scarlet Letter, this quote applies to the two main characters of the novel. It applies to Arthur Dimmesdale in a literal way; he clearly is not the man that he appears to be, and the guilt that goes along with such deception consumes him and, in the end, is the cause for his demise. The quote also applies to Hester Prynne, but in quite a different way. It was not her choice to wear the face that she was forced to wear, but the scarlet letter on her bosom determined how people saw her and, in turn, how she was expected to feel about herself. At first, however, Hester did not consider the sin which she committed as blasphemous and horrible as the people of Boston did, but she was forced to wear the face of an evil doer. For both Hester and Arthur, it was true that they could not live their lives concealing their true emotions. Arthur literally could not live with it, while Hester changed the way she felt on the inside to correspond to her guilty image. At the court house, when Arthur Dimmesdale was pleading for Hester to reveal the name of the man with whom she had an affair, it was clear that a part of him actually wanted everyone to know that it was he who was the guilty one. "Be not silent from any mistaken pity and tenderness for him; for, believe me, Hester, though he were to step down from a high place...better were it so, than to hide a guilty heart through life,"(47). When this plea is made, it at first glance appears to be quite ironic. The actual man who committed the crime is trying to convince his accomplice to do him in. However, this statement shows that Arthur was not simply a confused man; it was much more extreme that that. He was "bewildered to the point where a part of him really wanted Hester to let the whole town know that it was he who was the guilty one. Whether he meant to or not, Arthur did sound extremely convincing in his speech, which makes the reader understand that he was being pulled in two completely opposite directions. A part of him wanted more than anything to have the weight of this secret sin lifted from his conscience; another part of him, arguably the practical part, knew that he could never let the people know the truth. His facade and image were much too important not only to him, but to the entire community. If he had admitted to everyone what he had done, then he would have been seen, not only as a hypocrite, but a betrayer of everyone's trust. Some people inthe community might have even started doubting the religion because, if this man who they considered holy and righteous, could not live a sin free life, then how could they? Clearly, Arthur was asking these questions as well, and the world in which he had lived in a had served so faithfully in was beginning to close in on him. It was because of this that his health began to fail and his body could, at the end, no longer handle the weight and sadness of his soul. His spirit had been lost long before his body gave out. Both Hester and Arthur struggled with the question of whether or not what they had done was a true sin and whether or not there was utter truth in the words and ideologies of the towns people. The two of them did not simply sleep together out of lust and recklessness; they were truly in love and, at the time, they both believed that what they did "had a consecration of its own"(134). This meant that there was an aspect of holiness in what they did; it was something pure and even sacred to them at the time. Whether they were truly in love, or whether it was passion, or a combination of the two, both Arthur and Hester were faced with the question of whether what they did was truly a sin. They had to ask themselves an extremely difficult question and what the people of Boston thought was irrelevant to the question, because they were dealing with the way that God felt and

Free Essays on Cost Of War

Vietnam was a hell on earth for the solders that were forced to fight it. The solders that had a bad experience were traumatized beyond help. The story â€Å"The Red Convertible† was a story about a man named Henry that was sent to Vietnam and upon his return was never the same. Lyman, Henry’s younger brother, narrates the story and he was fortunate not to have to fight. Henry did not get enough support when he really needed it. When Henry came back from Vietnam he was traumatized. He never acted the same and his family never recognized him from before he left. His actions seem to be more hostile to everyone. Henry seemed always withdrawn and overly aggressive upon his return. Before he went into the service he had a good relationship with his brother and acted a little â€Å"loony†. The part of the story where they go on a road trip with their new convertible defines Henry’s personality. Henry and Lyman were driving around when they saw a girl named Susy walking along the road, on a whim they both decide to pick her up and give her a ride home. When they find out where she lives in Alaska they don’t care and they drive her home. They were both so carefree that they decided to go take her home. Henry and Lyman were so charismatic that Susy’s family took them in as their own. When Susy let down her hair and Henry held her up on his shoulders showed what a carefree and expressive p erson he was. Lyman seemed to have all the luck and that led to Henry’s resentment toward him. Lyman seemed to be a prodigy with making money. He was so good that he was able to own a restaurant at the age of 16. And he showed he good luck more by getting a good number on the draft where Henry got a bad one and so he signed up for the military. Henry’s hostility toward Lyman manifested by him not going through the same experience, and Henry not getting any help. Henry was unbalanced when he came back from the war. He didn’t care about hims... Free Essays on Cost Of War Free Essays on Cost Of War Vietnam was a hell on earth for the solders that were forced to fight it. The solders that had a bad experience were traumatized beyond help. The story â€Å"The Red Convertible† was a story about a man named Henry that was sent to Vietnam and upon his return was never the same. Lyman, Henry’s younger brother, narrates the story and he was fortunate not to have to fight. Henry did not get enough support when he really needed it. When Henry came back from Vietnam he was traumatized. He never acted the same and his family never recognized him from before he left. His actions seem to be more hostile to everyone. Henry seemed always withdrawn and overly aggressive upon his return. Before he went into the service he had a good relationship with his brother and acted a little â€Å"loony†. The part of the story where they go on a road trip with their new convertible defines Henry’s personality. Henry and Lyman were driving around when they saw a girl named Susy walking along the road, on a whim they both decide to pick her up and give her a ride home. When they find out where she lives in Alaska they don’t care and they drive her home. They were both so carefree that they decided to go take her home. Henry and Lyman were so charismatic that Susy’s family took them in as their own. When Susy let down her hair and Henry held her up on his shoulders showed what a carefree and expressive p erson he was. Lyman seemed to have all the luck and that led to Henry’s resentment toward him. Lyman seemed to be a prodigy with making money. He was so good that he was able to own a restaurant at the age of 16. And he showed he good luck more by getting a good number on the draft where Henry got a bad one and so he signed up for the military. Henry’s hostility toward Lyman manifested by him not going through the same experience, and Henry not getting any help. Henry was unbalanced when he came back from the war. He didn’t care about hims...

Understanding the Philosophy of Culture

Understanding the Philosophy of Culture The ability to transmit information across generations and peers by means other than genetic exchange is a key trait of the human species; even more specific to humans seems the capacity to use symbolic systems to communicate. In the anthropological use of the term, culture refers to all the practices of information exchange that are not genetic or epigenetic. This includes all behavioral and symbolic systems. The Invention of Culture Although the term culture has been around at least since the early Christian era (we know, for instance, that Cicero used it), its anthropological use was established between the end of eighteen-hundreds and the beginning of the past century. Before this time, culture typically referred to the educational process through which an individual had undergone; in other words, for centuries culture was associated with a philosophy of education. We can hence say that culture, as we mostly employ the term nowadays, is a recent invention. Culture and Relativism Within contemporary theorizing, the anthropological conception of culture has been one of the most fertile terrains for cultural relativism. While some societies have clear-cut gender and racial divisions, for instance, others do not seem to exhibit a similar metaphysics. Cultural relativists hold that no culture has a truer worldview than any other; they are simply different views. Such an attitude has been at the center of some of the most memorable debates over the past decades, entrenched with socio-political consequences. Multiculturalism The idea of culture, most notably in connection with the phenomenon of globalization, has given rise to the concept of multiculturalism. In one way or other, a large part of the contemporary world population lives in more than one culture, be it because of the exchange of culinary techniques, or musical knowledge, or fashion ideas, and so on. How to Study a Culture? One of the most intriguing philosophical aspects of culture is the methodology by means of which its specimens have been and are studied. It seems, in fact, that in order to study a culture one has to remove herself from it, which in some sense it means that the only way to study a culture is by not sharing it.The study of culture poses thus one of the hardest questions with respect to human nature: to what extent can you really understand yourself? To what extent can a society assess its own practices? If the capacity of self-analysis of an individual or a group is limited, who is entitled to a better analysis and why? Is there a point of view, which is best suited for the study of an individual or a society?It is no accident, one could argue, that cultural anthropology developed at a similar time at which psychology and sociology also flourished. All three disciplines, however, seem to potentially suffer from a similar defect: a weak theoretical foundation concerning their respecti ve relationship with the object of study. If in psychology it seems always legitimate to ask on which grounds a professional has a better insight into a patient’s life than the patient herself, in cultural anthropology one could ask on what grounds the anthropologists can better understand the dynamics of a society than the members of the society themselves.How to study a culture? This is still an open question. To date, there certainly are several instances of research that try and address the questions raised above by means of sophisticated methodologies. And yet the foundation seems to be still in need of being addressed, or re-addressed, from a philosophical point of view. Further Online Readings The entry on cultural evolution at the Stanford Encyclopedia of Philosophy.The entry on multiculturalism at the Stanford Encyclopedia of Philosophy.The entry on culture and cognitive science at the Stanford Encyclopedia of Philosophy.

AMRICAN Jewish Striggle Essay Example | Topics and Well Written Essays - 500 words

AMRICAN Jewish Striggle - Essay Example At the same time, those from Germany called themselves Ashkenazi Jews (Rosove 50). With the American Independence, the nation granted its citizens freedom which extended to religion. Consequently, Jews had to struggle against members of their community dissenting from their Judaic religion to join among other religious inclinations, Christianity, Atheism and secular ways of life. Jews had to withstand prejudices promoted by the freedom of worship in the United States. Starting from the 1840, American Jews struggled against widespread adoption of American models in their synagogues which threatened their long-held traditions. For example, rabbis began to merge aspects of their religion with Orthodox and Protestant American denominations as others sought to adopt the Reform Judaism (Rosove 52). When the American Civil War began, Jews also found themselves split into Southern pro-slavery and Northern anti-slavery Jews. The ensuing tensions brought anti-Semitic sentiments in America to the fore. In the armies, Jews fought to have their own chaplains until the law was amended to allow this (normally, only Christian ordained ministers occupied this role). In 1872, General Order No.1; an anti-Jewish order called for the expulsion of Jews from General Ulysses Grant’s army regiment. Protests by Jews made President Abraham Lincoln reverse the order (Sarna and Golden). Politics, particularly prior to and after World War II has presented a trying existence for American Jews. The persecution of Jews by the Stalinist regime in Russia, the Nazi regime in Germany and the Holocaust show manifestations of Jewish struggles that account for significant immigration to the U.S (Charters 24). After 1948, American Jews have fought with allegiance and political identity issues around the sense of belonging to the Zionist nation of Israel and the U.S. The Palestinian and Arab World challenge on the

Concepts of safety, assessment, and communications Assignment

Concepts of safety, assessment, and communications - Assignment Example Another issue of concern in Mrs. Thomas’s case is that the administration of hydromophine has possible side effect of initiating respiratory depression whose impact is fatal. Chance of postoperative complications occurring is influenced by factors such as the general health status, age, the type of anesthesia, urgency and the surgical site. Incidences of these complications are high during the first three days after the operation. In this case, the occurrence of these complications is likely to result from the age of, Mrs. Thomas. Postoperative complications can be prevented through evidence-based interventions such as optimal nutritional status, weight control, anemia correction (Crile, 1925). In addition, technical aspects such as incision type, drainage can be used to prevent occurrence of these Complications. The pain that Mrs. Thomas is complaining about might be due to wound infection. There is a tendency of superficial wound infections to occur during the first week after the operation. Initial intervention may include performing surgical repairs on the painful locations and biosynthetic mesh. Surgical injury is another possible diagnosis, which can also be corrected through surgery. Disordered wound healing is another possible diagnosis in this case. Proper diet is the most appropriate intervention method that can be offered to, Mrs.

Borges and Bertolucci :: essays papers

Borges and Bertolucci There are a number of differences between Bernardo Bertolucci's movie "The Spider Stratagem" and the story on which it is based, Jorge Louis Borges' "The Theme of The Traitor and The Hero;" however, overall Bertolucci does a pretty accurate portrayal of the essence, at least, of Borges' story. Besides changing the "setting" of the plot, there is also much more information relayed in the movie. This is very much due to that the story is simply a suggestive piece, while the movie had to fill in all of the blanks. In the movie, Bertolucci had to add characters, motivations, and many vast details that are left out of the story. To begin with, Borges is very vague in his ideas on the semantics of his story. He begins filling in the details somewhat with the story taking place in Ireland†¦. But Borges himself says that this is simply, "(for narrative convenience)." (Borges 72) Borges then expands on his idea within an Irish backdrop†¦ Bertolucci keeps the story intact, and simply transplants it to Italy in the twentieth century. The names are all changed; but that is because Borges chose Irish names which would not work in the new setting. The entirety of Borges' story is written in vague possibilities of ideas. He uses "for example" a number of times throughout the story and only offers these examples to give the reader an idea†¦ not the actual plot. It is more the plot than the setting which concerns Borges†¦ and Bertolucci does exact Borges' plot with his movie. At the beginning of the story, Borges says that our narrator is writing an autobiography of his great-grandfather, the hero. However, in the movie, Bertolucci's narrator is summoned to his father (not great-grandfather)'s hometown by his father's ex-mistress. (Borges does not mention an "ex-mistress.") He has no interest in knowing about his father. It is only in concern of the health of this ex-mistress that he actually chooses to stay. (She has a propensity for fainting on cue.) It is for her that he actually undertakes the pursuit of the truth of who the traitor was that caused the death of his father, as opposed to in Borges' story where the narrator undertakes the truth for the purposes of his biography. Bertolucci had to take some artistic licenses with character motivations in order to make the movie's pace keep going.

Fair Value Accounting Essay

This paper attempts to answer the questions: Is Fair Value Fair? In so answering the question there is a need to determine whether the use of fair value accurately portray the value underlying financial and economic transactions; to determine whether there is basis to have one universal standard of valuing the assets and obligations of all firms; to find out whether accounting standards would allow for both historical and fair value and still produce meaningful information for decision making; and establish one is more important between relevancy and reliability and whether one’s the importance each depend upon the financial user. 2. Analysis and Discussion 2. 1 What is meant by being fair? To be fair means giving what is due to a person. If applied to an asset purchased or liability assumed in business, fair value would simply mean that said asset or liability is neither overpriced nor underpriced as a matter of perception. Under the law of economics, fair value would refer to that market price which is approximated by the equilibrium price of a thing or good, which is the value of the something from a seller that is not forced to sell or from a buyer that is not forced to buy. In a business transaction there are always are investors, creditors, and other persons who must get their due in transactions that they will enter into. An investor will know what is fair if the person or entity will earn just enough return above cost of capital and in exchange for the risk that such person or entity is taking. The same must be true with a creditor that the person must also get paid on time on his credit plus a sufficient return for the risk in form of interest and penalties. In terms of viewing the corporation as a business entity, what is fair to it is what will allow it to have a sufficient return for the risk that it is taking above its cost of doing business or cost of capital. To arrive at what is fair the investors and creditors who are called users of financial information, these users must know the true or accurate information about of the company so that they will know whether they are going to earn or lose and make the necessary decision whether they will sell, buy or hold to their investments. In other words, to have the chance of being treated fairly from a transaction, one must have the opportunity to have the true or accurate value of asset or liability being dealt with in a business transaction. The opportunity is thus normally supplied by financial reports prepared by companies and which are made public. It is in these financial reports where values whether fair or historical are reported in accordance with prescribed accounting standards that may come from the Financial Accounting Standards Board (FASB) in the case of US companies and IFRS in case of companies operating in the European Union and in other countries which have adopted the IAS or IFRS. Fair value accounting was made pursuant to FAS 157 as issued by US FASB for companies to reflect the accounting information on how much are the real values of assets, liabilities and equity in the balance sheet as contrasted with presenting the information using the historical cost accounting. The purpose of FAS 157 then was built on a framework whereby financial users are given the chance about the true state or fair value of assets, liabilities and equity for decision making under the impression that things will be fair to users of financial information about a company. Incidentally, FAS 157 defines fair value almost very closely to what was discussed and analyzed so far. It is the price that would be received â€Å"to sell an asset or paid to transfer a liability in an orderly transaction between market participants in a measurement date† (Sortur, 2007). 2. 2 Does the use of fair value accurately portray the value underlying financial and economic transactions? To the extent that fair value concept is discussed so far, there is the presumed proposition that the use of fair value will accurately portray the value underlying the financial economic transaction. As to whether this is true, this subsection will have to evaluate the subsequent result on what happened upon the application of 157. In the case of banks, there are those who have to write down the value of assets because of their perception that values have declined due to existing market conditions (Chasan, 2008: Rees-Mogg, 2007). The economic effects however were not favorable to affected interested parties since this action of the banks has produced a backlash. Investors of these banks have lost values of their investments. As a result, the banks have become more risky and depositors lost their trust too in the banking system. If indeed the banks were just reflecting the true values of the assets, how come the reaction of these banks as matter of complying with the requirements of the FAS I57 was not good for many of the affected parties? Would it proper then to deduce that the application of FAS 157 is not fair or that FAS 157 fair value is not fair? If the answers to both of these questions are in the affirmative, then this would have the connotation that what is unfavorable to others is not fair. But how if the values being reflected in the write down are indeed the true values, would the fact that users of financially information get adversely affected make the FAS 157 not fair any more? It would seem that it would be not correct to say fair value accounting or the use of fair value will not be fair if users get affected or have the perception of not getting what they feel or perceive to deserve even if the information is indeed accurate. Otherwise, fair value accounting would be equated with sure profits which could never be within the contemplation of the use of information in decision making. Being fair therefore must first and foremost be characterized to represent the true and accurate information and consequence would be justified by such quality of information. To answer squarely whether the use of fair value accurately portray the value underlying financial and economic transactions, this paper would have to answer in the affirmative. Based on foregoing analysis the FAS 157 aims to reflect the values what would approximate the market price since it is â€Å"the price to sell an asset or paid to transfer a liability in an orderly transaction between market participants in a measurement date† (Sortur, 2007). FAS 157 fair value is therefore the result of the business transaction using the exit price (Sortur, 2007) and is determined by the buyers and sellers in the market. It is therefore not the job of FAS 157 to create what is unfair but would have only to reflect the true values of assets or liabilities that would have to be reported. Therefore, fair value accounting or the use of fair value must be upheld to be fair if it would reflect or would cause the reflection of what are true values. Indeed, it must be the capital markets or the buyers and sellers who will determine the market value or fair value and not the accounting standard. The only role of the accounting standard is to cause its reflection in financial reports of companies because of the requirement to make public their financial statement to investors which would reflect the fair values of assets and liabilities. There is argument that the intention of 157 Accounting rule FAS 157 is good but one cannot prevent people from taking advantage of the new rule to what could further their interest. It is further argued that in whatever one would like to look at it, the generic thing about business is still the desire for profit by which people are motivated with their personal interest to get more wealth (Brigham and Houston, 2002). In response, the use of fair value does consent to allowing people to be taken advantage but cannot prevent those who would want to and those who do not know how to process information for decision making. If the banks which wrote down asset values are indeed taking advantage of the use of fair value accounting, it is still the transactions between the previous buyer or seller that have caused the reaction which started it and the role of accounting standard is just to reflect them (Meigs and Meigs, 1995). If the requirement to report what is happening is unfair, what will then be fair? Chasan (2008) narrated about some investors expressing their doubts on the effectiveness or fairness of fair value accounting method used especially in the context of evaporating markets caused by the financial crisis. The author however admitted that the use of FAS 157 as an accounting standard was made to improve transparency to investors. Citing big write-downs being made big companies like Citigroup and Merrill Lynch & Co Inc. which has made multibillion-dollar reductions on subprime-related asset-backed securities and other assets described as hard-to-price assets, the issue of whether fair value is still fair has become a controversial question (Chasan, 2008). The argument being asserted is about the volatility of being caused the use of fair value. Rephrased simply, can fair value justify the volatility? Volatility is a term used in business which connotes changes in market prices and which causes risks to investors (Droms, 1990; Helfert, 1994). It is feared that with the desire to create transparency, increased risk from the use of fair value is coming out as a result. To resolve the issue, the previous answer to the question on whether the use of fair value could justify big losses if what is being reflected or reported about company values are still true, would in effect cover the issue of volatility being blamed on the use of fair value. Hence, this paper believes, that fair value which stands for what is true must be upheld as argued earlier. There are concerns that because of volatility caused by the use of fair value accounting, the money makers would just be benefiting hedge funds since they are those to profit from volatility (Chasan 2008). In answer, it could argued that such is the nature of fair value accounting, to allow the market forces to move freely without people being compelled to enter into buying and selling transactions. If there are losers, there are also losers and they are part of the process. It is also argued that those who are complaining about the effects of credits being blamed on the use of fair value accounting are investors or groups of them, who may have been instrumental in pushing for the shift to fair value accounting. One of these groups is called the CFA Centre for Financial Market Integrity, with analysts and portfolio managers composing the group (Chasan 2008). The group and other groups 2007 had their aggressive lobbying to use fair value more in financials. These investor groups could not be only be winners in a market transaction, they could also be losers sometimes; otherwise the market is not operating efficiently. 2. 3 Should there be one universal standard of valuing the assets and obligations of all firms? The issue of whether there should be universal standard for valuing the assets and obligation may be very ideal since when one now talks of universal fair value as a universal standard for example, one will have to consider macroeconomic conditions of the different companies in the world. Since not all nations are similarly situated, at least economically, there is the strong probability that universal value could not be implemented. The question is being propounded to help in setting what is the fair value in accounting like the universality of human rights. However its impracticality will prevent the attainment of the objective. Accounting values are not human rights. Another thing is the difficulty of measuring the risks in business in different countries which are factors in determining the cost of capital of doing business. The difference in risks depends upon many factors including macroeconomic conditions which are affected by political developments. In answer therefore to the question, it will have to plainly say that the vision of universal standard is laudatory and this could be a part of an approximate desire to the internationalization of accounting in many part of the world. There is the plan to harmonize all accounting standards in the world. The FAS 157 definition was actually made part of the plan of IASB which makes IFRS, to adopt the former for the use of those using the IAS or IFRS (Sortur, 2007). In other words, efforts are made to approximate universality of standard in valuing the assets and obligations of all firms but its realization could only possibly become when the time will come for a universal government. 2. 4 Can accounting standards allow for both historical and fair value and still produce meaningful information for decision making? Accounting standards are in effect guides to users to help users make informed decisions in business. Having both historical and fair value must strike the balance of getting to the extreme of having one and disregarding the other. In other words, one needs to know what is historical for comparison to what is fair value or market value to make an informed judgment. Accounting standards must then work for the attainment for the creation of balance between the two values. As to whether the accounting standards can allow for both historical and fair value and still produce meaningful information for decision making, is answered again in the affirmative. This can be tackled better by breaking the given statement into two propositions first and then combine them latter. The first proposition would be declared settled in the fact the accounting standards can allow both historical and fair value together. The second proposition is that the use of both will still produce meaningful information. This first proposition is accomplished since the practice have been done for a long time already since in the case of valuing of inventories, accounting standards allow the valuing them of lower of cost or market under the IAS 2. (Deloitte Touche Tohmatsu, 2008). The fact that inventories can be valued at cost means the historical cost is maintained but requirement of presenting the fair value of inventory if it has gone down in the market is also a part of the standard which in effect allows the working of fair value concept. There are other IAS concepts which allowed fair value accounting and historical value accounting. Thus this section is not much of a problem. The second proposition appears to also to have been fulfilled by the use of IAS as illustrated. More meaningful information is in fact reflected by allowing a combination of fair value and historical cost in the valuation of assets and liabilities of companies. By combining the validation done is confirming the application of two proposition, it could be sufficient to strongly answer the question in the affirmative. 5. Relevancy and Reliability: Is one more important than the other, depending upon the financial user? Both relevancy and reliability are requirements for qualitative characteristics of accounting information. Forcing one to be is more important than the other would be asking the wrong question if the objective is only to determine whether preparing financial information using their fair values is fair. In fact to say that an information must be relevant carries the presupposition that the information must also be reliable. This is on premise that reliability connotes objectivity of information which is very much akin to being truth or fair. Information is relevant or has is relevancy character if it influences one’s decision about a particular issue. On the other hand, reliability deals with the objectivity or accuracy of the information. How could a decision maker consider information as relevant when there is no reliability of the information? On the other hand having reliable information would be of no value if the same is not needed in the decision to be made. The two characteristics must therefore go together. 3. Conclusion The issue of whether fair value accounting or the use of fair in accounting for company assets and liabilities is fair must be answered in the affirmative. What is fair is not what has caused much damaged to a person or entity if such damage was a result of failure to follow the basic rules of making investment. The effect of fair value should not be used to allow one to just justify greed while disregarding the rights of others. A loser under a fair value accounting is comparable to a person who is taking too much risk thus the return could also be high but could be low because of the working of the market. As long as buyers and sellers are not being compelled to complete their transaction, fair value is still fair. Fair value accounting will lead to the truth but its value will also depend on the users of information after they have done their roles in the market. The user will still need to make a comparison with what is historical and what is the current fair value as caused by economic conditions. Present accounting standards have caused the reporting of both kind of information but users must also be intelligent in doing their part. Fair value as a concept in accounting standard was just made to correct the apparent failure of purely historical cost accounting. If fair value accounting is fair, it does not imply that the standard must go back to historical accounting but historical information must still be reported and allow the user to make a difference in how to process the information. Since fair value and historical cost could co-exist together, the same must be the better option as it will provide a balance between historical and fair value accounting. References: Brigham and Houston, Introduction to Financial Management, Thomson-South Western, USA, 2002 Chasan, Emily (2008), Is fair value accounting really fair? {www document} URL, http://www. reuters. com/article/reutersEdge/idUSN1546484120080226, Accessed October 20, 2008 Deloitte Touche Tohmatsu (2008), Summary of IFRS for IAS 2, {www document} URL http://www. iasplus. com/standard/ias02. htm , Accessed October 21, 2008. Droms (1990) Finance and Accounting for Non Financial Managers, Addison-Wesley Publishing Company, England Helfert, Erich (1994), Techniques for Financial Analysis, IRWIN, Sydney, Australia Meigs and Meigs, 1995, Financial Accounting, McGraw-Hill, Inc, London, UK Rees-Mogg (2007), Why FAS 157 strikes dread into bankers, {www document} URL http://www. timesonline. co. uk/tol/comment/columnists/william_rees_mogg/article2852547. ece, Accessed October 21, 2008. Sortur (2007) Fair Value Measurement, The Chartered Accountant {www document} URL, http://icai. org/resource_file/96471564-1574. pdf, Accessed October 21, 2008. ]

Compare and Contrast Capital Market - 1897 Words

Contrast to Capital market research and Behaviour research Positive theories explain and predict the behaviour of users of accounting information: i)Reactions of investors to accounting information ii)Association between accounting numbers and share prices Capital market research and Behaviour research both positive theories. Research question: Capital market research investigates the impact of accounting information (especially earnings) on share prices. It is concerns with investor reactions to accounting information. Behaviour research explains how to use and process the accounting information. Objective: The main objective of capital market research is to examine relationship between accounting information and share prices. Behaviour†¦show more content†¦ii) Opportunistic perspective-three hypotheses, to increase managerial compensation: Bonus plan hypothesis: Managers of firms with bonus plans are more likely to use accounting methods that increase current period reported income; Debt hypothesis: The higher the firm’s debt/equity ratio, the more likely managers use accounting methods that increase income; Political cost hypothesis: Large firms rather than small firms are more likely to use accounting choices that reduce reported profits. Based on ‘scientific’ research. Large samples, statistics, hypothesis testing; aim = universal truth claims. Rational utility maximising individuals. Makes universal claims – ignores social context Focuses on relationships between various individuals and how accounting is used to assist in the functioning of these relationships. 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