Karl Marx And The Global Economic Crisis - 969 Words

Karl Marx held many titles in the 1800s and still holds them in present day. One of his most â€Å"popular† titles was â€Å"Humanist† among the rest, because it tied all of his titles together. Marx was an idealist, he wanted to make everything simple and equal for everyone. If Karl Marx came back alive today and observed our functioning government and economy, he would find that we are/ will continue to fall as a nation, if we continue to live a capitalist system, because of our federal budgeting, our current debt, wealth/income inequality, labor unions and other factors. Marx got to live thru and see a transition from a feudal system to an industrialized capitalist society, so he has seen how the government have chosen to budget their money. Today, Marx would most likely have the idea that the way we budget money is not efficient and does not support the nation as a whole. Over the past 25 years, the global economic crisis has determined many changes in the new con sumer behavior and has led the vast majority of consumers to look for new landmarks: they became more economical, more responsible and more demanding. Marx might state that our production to demand ratio is too high, or unreasonable. He would state that in order to solve this problem, the government would need to eliminate programs that would not be beneficial to all and use that money to fund programs that everyone could use. According to Roger M. Kubarych, author of the article U.S. Economic Situation: Strengths andShow MoreRelatedKarl Marx and Capitalism Essay880 Words   |  4 PagesKarl Marx, in the Capital, developed his critique of capitalism by analyzing its characteristics and its development throughout history. The critique contains Marx’s most developed economic analysis and philosophical insight. Although it was written in 1850s, its values still serve an important purpose in the globalized world and maintains extremely relevant in the twenty-first century. Karl Marx’s critique of political economy provides a scientific understanding of the history of capitalism.Read MoreThe Communist Manifesto By Karl Marx And Friedrich Engels Essay929 Words   |  4 Pagesâ€Å"The Communist Manifesto† – the work of Karl Marx and Friedrich Engels was published on February 21, 1848. This book is the first document of scientific communism and the first program of the international communist organizations and parties. It is the most systematic work of all thoughts and great teachings of Karl Marx and Friedrich Engels. â€Å"The Communist Manifesto† consists of the main statements of the materialistic conception of history, the impartial laws of social development, the laws ofRead More Communist Manifesto Essay1230 Words   |  5 PagesKarl Marx in his â€Å"Communist Manifesto† states that the wage gap will eventually result in revolutions of working class across the world, and consequently difference in classes will be vanished. Whereas, Robert Reich in â€Å"Why the Rich are Getting Richer and the Poor, Poorer† argues that American strategy of economic development, which is based on expansion of the production, will lead to collapse of American economy. Though, the poor people will suffer of various deprivations, wealthy people willRead More`` The Highest Bidder `` : How Foreign Investors Are Squeezing Out Vancouver s Middle Class1426 Words   |  6 Pages In Vancouver, British Columbia the housing market has been termed as an-affordability crisis, in which Vancouver’s middle-upper class are painted as the main victims of an accelerating housing market. Speculation as to what or who is heating up the housing market is controversial, some explanations point to varying demographics, limited geographic space, and low interest rates but overall there seems to be an emphasis toward foreign investors, specifically buyers from mainland China. Kerry Gold’sRead MoreThe Failure of Modern Capitalism: Looking at Modern Situations from a Marxist Perspective1728 Words   |  7 PagesIn a time of such economic distress, where it sometimes feels as though the world as we know it is coming to an end, it is hard not to examine and question the fundamental idea of capitalism. Many people are starting to wonder if our laissez-faire attitude towards the economy can continue to be successful or if a major change to our society is imminent. In seeking answers to these questions, it is impossible not to think of economist Karl Marx, who spent the better part of his career analyzing capitalismRead MoreKarl Marx And The Marxist Theory Of Political Economy1100 Words   |  5 PagesEconomics often detaches from analysing people and the social relationships between them to instead focus on mathematical modelling. In the contemporary world, economists failed to predict numerous crises, the most recent being the Global Financial Crisis of 2006. Such failures coincide with the deteriorating belief in governments, leading to the rebirth of the use of Marxist thinking. â€Å"Sales of Das Kapital, Marx s masterpiece of political economy, have soared ever since 2008, as have those of TheRead MoreThe Basic Concepts Of Marxism1460 Words   |  6 PagesNetwork, 2016). After the global financial crisis in 2008, the US government had to use taxpayer money in order to bail out big banks and corporations to prevent an economic collapse , despite these large companies chose to gamble at such risks. Many Americans were dissatisfied with financial elitism that governed the American society through economic influences. Karl Marx’s Class antagonism still exists in the present day, but in a different form and scale from antagonism Marx described during his timeRead MoreKarl Marx And The Communist Manifesto Essay1691 Words   |  7 PagesKarl Marx (1818-1883), in collaboration with his benefactor and friend, Friedrich Engels (1820-1895), founded the Marxist Theory. Both men were philosophers, however were referred to as revolutionaries. ‘The Communist Manifesto’, was written collaboratively by both Marx and Engels, as they explored the argument that â€Å"history and progress can be seen dialectically as societies shift from one mode of production to another†. This will be argued through a contextual account of Marxism, its developmentRead MoreCommunism vs Capitalism992 Words   |  4 Pages Is Communism a better economic system than capitalism? By Michael Kujawski Since the beginning of the 20th century many countries have favored the economic system of communism over capitalism many political partys around the world that are communist based have the term â€Å"workers party†incuded in their name because communism is a system for the working class and capitalism is a competitive system for the upper class society to benefit. Read MoreTheoretical Perspectives On Political And Social Thought1859 Words   |  8 Pagesworld economic crises. The financial crisis of 2007-2008 and the oil crisis of 2003-2008 are just the few of many examples that we have seen and been impacted by. These events have threatened the collapse of large financial institutions, the stock market, and has led to current issues such as the rising of unemployment, and the cost of living. Karl Marx explains to us that the economic crisis we still face up until today isn’t from the results of the boom and bust cycle as capitalist economics would

Eating Disorders - 883 Words

Eating Disorders INTRODUCTION Attention Getter Do you like what you see when you look in the mirror? Imagine looking in the mirror and you see something other than what is truly there. That is a nightmare that many women suffering with eating disorders live with everyday. No matter how pretty or slim they are, all they can see is ugly and obese in that mirror. Thesis Statement Eating disorders affect millions of people every year, and can even result in death. I will explain what a eating disorder is, their characteristics, complications and what some of the most common types seen today are. Purpose The purpose of this speech is to inform the audience of the different types of eating disorders and how they can be†¦show more content†¦The characteristics and complications associated with Anorexia nervosa. A. Anorexia nervosa is characterized by refusal to maintain a healthy body weight and an obsessive fear of gaining weight. 1. Self-starvation is one of the most common characteristics of anorexia. 2. Low self-esteem is another characteristic with this disorder, they have a hard time accepting who they are. When they look in the mirror they do not like what they see. These feelings can lead them down a tragic path. B. There are many complications associated with anorexia nervosa. 1. Death, osteoporosis, anemia, heart problems such as mitral valve prolapse, abnormal heart rhythms and heart failure, increasing risk of fractures later in life and gastrointestinal problems are just a few of the complications one might experience. 2. Depression, anxiety disorders, personality disorders, obsessive-compulsive disorders, and drug abuse are some common psychological complications associated with anorexia. III. The characteristics and complications associated with Binge-Eating. A. Binge-eating disorder is a serious eating disorder in which you frequently consume unusually large amounts without being able to stop. 1. Individuals with this problem may have extreme feelings of embarrassment and guilt. Emotionally they are extremely fragile. 2. DueShow MoreRelatedEating Disorders : Eating Disorder1205 Words   |  5 PagesEating Disorders in Today’s World Eating disorders are alive and well in today’s world and they are a major problem. An eating disorder can look like a few different things, ranging from a severe reduction of food intake to over eating to feelings of negativity towards your body shape or weight (Lehigh University). While some disorders can only be found in specific age groups, races, etc., eating disorders can be found amongst all and it does not necessarily have to be pointed towards food (LehighRead MoreEating Disorders : An Eating Disorder1184 Words   |  5 Pagesas an eating disorder. Weir (2016) goes on to explain the origins behind eating disorders in individuals. This topic is important because, in the United States, many women and men suffer from a clinically significant eating disorder at some point in their life. It is important to know the influences that cause an individual to experience an eating disorder. Genetically, or environmentally, or both genetically and environmentally. Anorexia ner vosa, bulimia nervosa, and binge eating disorder are eatingRead MoreEating Disorders And Eating Disorder1573 Words   |  7 Pagesaffects people called an â€Å"eating disorder.† Why did you choose this topic? I chose this topic because it is a very prevalent issue in our society today, and a close friend of mine is suffering from an eating disorder. What question(s) did you want to answer or what was your hypothesis regarding this topic? As mammals, there is no chance of escaping the need to consume food in everyday life. However, when it comes to food there can be a major concern of eating too much or eating too little. Doing eitherRead MoreEating Disorders And Eating Disorder1104 Words   |  5 PagesEating disorder is a serious problem happens in both men and women. Eating disorder is a sort of disease in which a person is having a strange routine of eating like consuming a huge amount of food each time they eat. This can incorporate not eating enough nourishment or indulging. Eating disorder influence many people around the world. The larger part of peoples who are dealing with this issue are ladies. A person with eating disorder issue may focus nonsensically on their weight and shape. EatingRead MoreEating Disorders And Eating Disorder1410 Words   |  6 Pagesâ€Å"An eating disorder is about anxiety and control and healing from trauma and food and weight are just the tools of destruction† (Floyd, Mim ms, Yelding, 2008). An eating disorder is defined as a severe disturbance in eating behavior. An eating disorder, as defined by our text book for class, is psychological disturbances that lead to certain physiological changes and serious health complications. The three most common and most easily identifiable forms of eating disorders include anorexia nervosaRead MoreEating Disorders : Eating Disorder966 Words   |  4 PagesEating Disorders Many people, both women and men of all ages, suffer from the psychological disorder, eating. Up to thirty million people in the world suffer from some kind of an eating disorder. There a two types of eating disorders, anorexia and bulimia, and have several methods of treatment. What is an eating disorder, and what do they cause? Eating disorders are maladaptive and very serious interruptions in eating. They can come in the form of overeating, or not eating enough, they are oftenRead MoreEating Disorders : Eating Disorder1031 Words   |  5 Pagesâ€Å"The eating disorder is a very jealous and abusive partner. It requires a lot of devotion in the extent that you have to devote yourself to tending to the anorexia. There s not a lot of time left over for adult life,† was stated by Dr. Doug Bunnell, a specialist in eating disorders. Eating disorders effect a variety of people. Age, race, and gender aren’t role playing keys in eating disorders. Not everyone gets an eating disorder, but if they do then, it will more than likely destroy their livesRead MoreEating Disorders And Eating Disorder1496 Words   |  6 PagesAn eating disorder is an illness that causes serious disturbances to your everyday diet, such as eating extremely small amounts of f ood or severely overeating. A person with an eating disorder may have started out just eating smaller or larger amount of food, but as some point, the urge to eat less or more has gotten out of control. Severe distress or concern about body weight or shape may also signal an eating disorder. Common eating disorders include anorexia nervosa, bulimia nervosa, and a binge-eatingRead MoreEating Disorders : An Eating Disorder1906 Words   |  8 Pagesobtain their body goal, thus causing an eating disorder. An eating disorder is a psychological condition that is characterized by abnormal or disturbed eating habits. There are three types of eating disorders; which are Anorexia Nervosa, Bulimia Nervosa, and Binge Eating.These disorders affect all aspects of a person’s life, including their psychological, emotional, and physical health. There are many factors that contribute to individuals developing eating disorders including: genetics, family pressuresRead MoreEating Disorders : Ea ting Disorder1235 Words   |  5 PagesEating Disorders Eating disorders are a very serious psychological condition that affects your mind so that you are more focused on your food and weight than you are on everything else. The most known and most commonly diagnosed eating disorders are anorexia, bulimia, and binge eating disorder; however, these are not the only eating disorders. Eating disorders cause psychical and psychological problems, which at their worst can even become life threating. Statistics show that more women are affected

Accounting Theory Implication of IFRS

Question: Discuss about theAccounting Theoryfor Implication of IFRS. Answer: Implication of IFRS for Local Authorities Richard Murphy in his article has raised the concern on the adoption of IFRS on local authorities. The concern is regarding whether the implementation of IFRS on local authorities is right or is creating a potential weakness. The statement written by Murphy is completely right as professionals in the field of accounting believe that implication of IFRS on local authorities is not justified. As per Murphy, international accounting financial standard is applicable for all transactions that takes place at local authorities but does not take into account some prominent items such as public funds entrusted and supply of services. As per the IFRS standards, public funds entrusted and supply of services are not required to be recorded in the financial reports prepared by the companies (Moore Stephens IFRS, 2009). However, these both items are categorised as most important management activities of local authorities. Thus, the statement given by Murphy is completely right in the sense that lo cal authorities are small business entities that does not have high amount of public engagements. Therefore, it is not required to impose IFRS implications on local authorities. IFRS standards apply to the entities in the preparation of financial statements for facilitating investors to take decisions regarding the purchasing or selling of shares. As such, the local authorities are not traded on stock exchange and therefore they are not required to prepare their financial statements as per the standards of IFRS (Deloitte, 2013). The investors are not interested in purchasing the shares of local authorities and thus the application of IFRS on local authorities does not make any sense. It is very difficult for local authorities to develop their financial reports as per the international standards of IFRS. Therefore, the restrictions of IFRS on local authorities should be removed completely so that local entities can develop their financial reports easily. The decisions of IASB to impose IFRS on local authorities should involve implementing proper changes in IFRS standards so that it becomes applicable to local entities easily. The applications of IFRS on local authorities without implementing any change would violate the core management activities as IFRS does not have standards to measure items such as public funds stewardship and supply of services. Stewardship in financial statements indicates the value for money over a period of time while IFRS standards are used for indicting the value of money at an inst ant point of time (World GAAP Info, 2008). As such, there is no benefit realised on imposing IFRS on local authorities as it does not measures the transactions that occurred over a period of time. The core management activities of local authorities include public funds stewardship and supply of services that are not measured through IFRS standards. Therefore, the statement given by Mr. Murphy is completely right that there is no need for imposing IFRS restrictions on local authorities. However, if IASB need to impose IFRS on local authorities then it should make some changes on IFRS standards so that local authorities can easily develop financial statements as per the IFRS standards (Deloitte, 2013). IASB and Big 4 Relationship Internal Accounting Standards Board (IASB) has developed IFRS standards for the business firms that guide them in preparing financial reports. These mandatory standards imposed by IASB have put burden on the business entities for complying with all the requirements of financial reporting under the new IFRS guidelines. Business firms are facing increasingly difficulty in maintaining their accounts in accordance with the new financial reporting standards. Thus, multinational corporations are often seeking help from the Big 4 accounting firms for maintaining their financial reports as per the IFRS standards (KPMG, 2003). Big 4 accounting firms provides help to the business corporations in handling all the requirements of recording the financial transactions as per the new financial reporting standards. However, there is increased concern that IASB is working only in the favour of Big 4 accounting firms and is not helping the business entities who are facing increasing problem in develop ing their financial reports as per the IFRS requirements. There is on-going debate that IASB is not working in the interest of public and is providing advantages to Big 4 accounting firms. There are several reports in the context of IASB providing favour to the Big 4 accounting firms through implementing several complications in the financial reporting (Ernst Young, 2012). These complications are not necessary for the investors in order to analyse the financial information of the business organisations. As such, the multinational business corporations are offering large amount to the big 4 accounting firms for completing their procedure of financial reporting. Thus as such, IASB is believed to work in favour of Big 4 accounting firms through introducing complications in the conceptual framework that is to be followed by all the business entities globally for preparing their financial reports. The IASB after the occurrence of financial crisis in the year 2008 and 2009 has also imposed restrictions on local authorities to comply with the IFRS standards (Ernst Young, 2012). IASB, in the year 2010, has made it mandatory for the local authorities to comply with IFRS standards although there is no requirements on these small entities to prepare their financial reports as per the IFRS standards, Local authorities does not have any public involvement and are also not traded on stock exchange and thus there is no requirements for these entities to comply with IFRS standards. The main objective behind the introduction of these requirements on local authorities was only to increase their complexity of business operations. The BIG 4 accounting firms are acting unethically as they are providing help to the business entities only for the sake of money. IASB role is being questioned on the entire context as it is helping Big 4 accounting firms to make money through enhancing the complications in the IFRS standards (KPMG, 2003). Implementation of IFRS in Local Authorities of Australia The implementation of IFRS on local authorities in Australia has both advantages and drawback associated with it. The major advantage of implementing IFRS on local authorities is obtaining timely and proper financial statements that are relatively easy for understanding and analysing. The stakeholders of local authorities can easily access the information regarding the performance of these entities and thus it will promote accuracy and transparency in local authorities operational activities of Australia. However, the major objective of implementing IFRS standards on developing financial reports is to provide timely and accurate information to the investors for supporting their decisions regarding investing in the business firms (IFRS, 2013). The local authorities in Australia are not involved with public and investors do not basically invest in local entities. Therefore, the point of debate is that it is necessary to implement IFRS standards on local authorities for making their fin ancial reporting more understandable. IFRS standards are mainly required to be adopted by the business firms to make their financial reports more understandable for the investors. However, with no interest of investors in investing in local authorities there is increasing concern that IFRS restrictions should not be imposed on the local authorities in Australia. Some people argue that IFRS standards application for local authorities is highly required for standardisation of accounting procedures (Leonard, 2010). The IFRS standards are required to be adopted by the local authorities also so that their financial reports are prepared as per the common conceptual framework adopted by IASB. It will make their financial reports easy to be understood and accepted at international level and this is proving to be the main reason behind IASB imposing IFRS standards on local authorities also. However, IASB, in this context need to understand the fact that IFRS standards are mainly advantageous to be implemented only in the business firm that are traded on stock exchange and interact with public. The major disadvantage of IFRS standards on implementing in local authorities is that that the standards does not measure and report the core management activities of local authorities, that are, public funds stewardship nod supply of services (Ernst Young, 2012). Thus, it does not provide any benefit to the local authorities on complying with IFRS standards. In addition to this, compliance of local authoritie s with IFRS standards increases operational cost for these entities. The business entities developing financial reports as per the IFRS standards have to incur the cost of deposing the financial reports with government bodies. As such, the local authorities often find it highly difficult for bearing all the cost associated with accounting firms for performing the operations as per the IFRS standards. The local authorities does not have high profit margin and therefore they have to face large difficulty in incurring the cost that is to be paid to the accounting firms for complying with IFRS standards. Thus, in the context of all these discussion it can be stated that imposing IFRS standards on the local authorities is not necessary and provides only limited advantages (Epstein et al., 2009). References Deloitte. 2013. IFRS 1 First-time Adoption of International Financial Reporting Standards. [Online]. Available at: https://www.iasplus.com/en/standards/ifrs1 [Accessed on: 20 October 2016]. Epstein, B.J. et al. 2009. Wiley GAAP 2010: Interpretation and Application of Generally Accepted Accounting Principles. John Wiley Sons. Ernst Young. 2011. UK GAAP vs. IFRS. [Online]. Available at: https://www.ey.com/Publication/vwLUAssets/UK_GAAP_v_IFRS_-_The_basics_-_Spring_2011/$FILE/EY_UK_GAAP_vs_IFRS_-_The%20basics_-_Spring_2011%20.pdf [Accessed on: 20 October 2016]. Ernst Young. 2012. International GAAP 2012 - Generally Accepted Accounting Practice Under International Financial Reporting Standards. John Wiley Sons Leonard, B. 2010. Report and Recommendations Pursuant to Section 133 of the Emergency Economic Stabilization Act Of 2008: Study on Mark-to-Market Accounting. DIANE Publishing. Moore Stephens. IFRS. 2009. [Online]. Available at: https://www.moorestephens.co.uk/IFRS.aspx [Accessed on: 20 October 2016]. World GAAP Info. 2008. UK FRS. [Online]. Available at: https://worldgaapinfo.com/uk.php [Accessed on: 20 October 2016].