Smith vs. Marx - a Comparison Essay - 1247 Words

Smith versus Marx Ââ€" A Comparison S. Glen Balanoff July 04, 2004 Smith versus Marx Ââ€" A Comparison Modern economic society can be described as a combination of certain points from several theories combined into one. Changing dynamics and economic needs of nations has spawned a development of various, and contrasting, economic systems throughout the world. Perhaps the two most contrasting philosophies seen in existence today are that of capitalism and communism. The two philosophers most notably recognized for their views on these economic systems are Adam Smith and Karl Marx. This paper will identify several fundamental aspects of economic philosophy as described by Smith and Marx, and will compare and contrast the views of these†¦show more content†¦Smith believed that self, self-interest, and self-determination, all were mechanisms where individuals are motivated to gain wealth and power for individual gain and group gain. Smith believed that ‘self is a matrix of reason and passion (Levine, 1998). Furthermore, Smith believed that sympathy leads to empathy, and our individual self-determination leads to accumulation of wealth that benefits others as well as us (Levine, 1998). Examples of this concept are evident in our current economic society today. We see Bill Gates and Microsoft providing technology to communicate more efficiently, Henry Fords posterity changing the transportation market, and many others who impact man with their accumulation of wealth. The simplistic perception of capitalist society varies greatly among Smith and Marx. Smith believed that capitalism is a mechanism designed to curb mans selfishness and put it to work for the general good of all (Baumol, 1976). Conversely, Marx believed that capitalism is based on neither good nor evil, but a product of historical circumstances or experience (Baumol, 1976). Marx also believed that the law of motion in capitalism frustrates, rather than facilitates, the individual ends (wealth). Marx believed that wealth divides capitalists by class, and that workers must develop in a universal class (Levine, 1998). Marx also disagreed with Smith in believing that production must cease to be a labor process if itShow MoreRelatedHobbes Vs. Marx On Government s First Duty1038 Words   |  5 PagesDecember 2014 Topic #1 – Hobbes vs. Locke vs. Marx â€Å"Government’s first duty is to protect the people, not run their lives,† said Ronald Reagan. Some political philosophies like John Locke would agree to this statement, while other, like Thomas Hobbes would not, and some will both agree and disagree, like Karl Marx. You will come to learn why the â€Å"social contract† of John Locke is the best through the review of all three philosophers main ideas on government, the comparison of all three philosophers,Read MoreEconomic Systems: Socialism and Capitalism Essay1018 Words   |  5 PagesI have observed that when Americans discuss the relative merits of socialism vs. capitalism, the chief debates that come up are †¢ What would happen if we remove the stimulus for innovation and productivity that a free market generates? This implies having a free market including individual ownership and control, and to varying degrees a laissez-faire government. †¢ Would it be possible to have a thriving society in which we would not have 20% of the population living in poverty and without adequateRead MoreCuba s Modernization During The 20th Century1697 Words   |  7 Pagesthings that are used to make and transport products (such as land, oil, factories, ships, etc.) and there is no privately owned property.† - Merriam Webster dictionary. The idea of communism originates from Marxism, founded by Karl Marx, a German philosopher. Marx believed that wealth should be evenly distributed among the people. During the Industrial Revolution he saw factory workers working long hours in harsh conditions struggling to get by, while capitalist we’re getting rolling in theRead MoreThe Recession And The Credit Crunch Of 20081927 Words   |  8 Pagesplace economic liberalization measures. 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Second, we take into account and address the changes in nationalRead MoreThe Impact of Employee Satisfaction on Quality and Profitability in High-Contact Service Industries10865 Words   |  44 Pageswould induce any systematic bias to the study. Our research team distributed the questionnaires in person to each of the three respondents. The respondents were allowed to complete the questionnaire at different time and different places (e.g., work vs. home) at their convenience. This helped mitigate the problem of transient mood state and common stimulus cues – a source of common method bias (Podsakoff and Organ 1986). Our research team then collected the questionnaire from each respondent individuallyRead MoreMerger and Acquisition: Current Issues115629 Words   |  463 Pages24 3 Misadventure and the Form of Payment in Corporate Acquisitions Tyrone M. Carlin, Guy Ford and Nigel Finch 3.1 Introduction 3.2 Factors influencing the form of consideration in acquisitions 3.3 A price too far? 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Improving Law Enforcements Approach to Combating...

Introduction Organized crime involves a group of people made up of several ethnicities and international unions, who coordinate as well as work in unison, apart, or in line with legal enterprises alongside political realms. Many analysts have concurred that organized crime is both an impediment to academic projects and a realistic social issue that obligates urgent solution. Strategies implemented to limit organized crime often tend to be inclined towards one form of the two approaches. One of the approaches is tailored on dealing with individual members of the criminal gangs, whereas the second stresses on the structural aspects along with market networks that assist in accomplishing organized crime. It is essential to highlight that†¦show more content†¦Most criminal syndicates in the US seem to be freely ordered outfits, small, divided, and readily reactive to illegitimate commercial opportunities. Crime syndicates are normally not the fraudsters of civil servants along w ith certified experts as coequal associates completing a symbiotic rapport as noted by the Finklea (2010). The basic ideology of the alien conspiracy theory is headhunting, which regards curbing organized crime by detaining syndicate commanders alongside members, besides freezing their properties. The approach has resulted in countless arrests and sentencing among other types of castigation against crime suspects, although it has provided no hope in curbing the rate of syndicate crimes. Nevertheless, a highly promising and effective alternative to policing involves enhancing awareness on syndicate crimes by emphasizing the main aspects of illegal entities, with exceptional focus on undermining the influence and affluence of illegal investors. This merging objective might be realized by vigilantly monitoring the leading upperworld entities that, when infiltrated, permits criminals to gain and apply ample affluence by espousing legal alternatives in disguise of proceeds and the illici t power (JRank, 2013). Crime Control Theories According to Buscaglia Dijk (2003), crime control theories are generally fundamental for intellects, professionals, security forces,

The Major Internal and External Conflict of Harry Potter free essay sample

It’s about the classic struggle between good and evil. Harry Potter was challenged with internal and external conflicts. Because of Harry Potter’s bravery and humility, he overcame these conflicts. One of Harry’s major internal conflicts in the story is that because of his miserable childhood, he desperately longs for connection with his mother and father. Harry’s aunt and uncle had lied to him and told him his parents died in a car accident. It was very upsetting to Harry when he found out they were actually murdered by his future nemesis. There is a mirror called the Mirror of Erised which plays an important role in this internal conflict. The mirror shows what you desperately desire most. While at the Hogwarts School of Witchcraft and Wizardry, Harry managed to sneak a gaze in the mirror. We will write a custom essay sample on The Major Internal and External Conflict of Harry Potter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He saw his parents and other family members standing around him in the mirror. Harry realizes that because he has never known his parents, his heart’s deepest desire is to have a connection with his family. Harry’s greatest external conflict was risking his life to fight Voldemort, his evil nemesis, and keep him from acquiring the Sorcerer’s stone.Voldemort, who is in a spirit form, needs the stone to allow him a physical body. At one point, Voldemort tries to convince Harry to join him but refused to. During the fight, Harry faints before he has a chance to destroy Voldemort. When Harry awakes in the school hospital he realizes that, even though Voldemort escaped, he kept him from acquiring the Sorcerer’s stone. Harry’s courage, perseverance, and understanding of himself allowed him to overcome his conflicts.

Rc lab report Essay Example

Rc lab report Paper Then the current ceases and the capacitor is fully charged. C Fig. 1 . A capacitor in series with a resistor. The left figure represents the circuit before the switch is closed, and the right after the switch is closed at t=O. The question arises on how does the current in the circuit vary with time while the capacitor is being charged. To answer this, we will apply Kerchiefs second rule, the loop rule, after the switch is closed EIR where q/C is the potential difference between the capacitor plates. We can rearrange this equation as The above equation contains two variables, q and i, which both change as a unction of time t. To solve this equation we will substitute for i dot q q This is the differential equation that describes the variation with time of the charge q on the capacitor shown in Fig. 1. This dependence can be found as follows. We will rearrange the equation to have all terms involving q on the left side and those with t on the right side. Then we will integrate both sides (q -CE)ARC q It q CE In ( ARC -CE (7) where e is the base of the natural logarithm. To find the current i(t) we will substitute for q in CEQ. 3 formula 8. The derivation of q is E-t/ARC where 10 = E/R is the initial current in the circuit. We will write a custom essay sample on Rc lab report specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Rc lab report specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Rc lab report specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Fig. 2. Charge vs Time during charging Fig. 3. Current vs Time during charging Plots of the charge and the current versus time are shown in Figs. 2 and 3. The charge is zero at and approaches the maximum value of CE. The current has the maximum value of lo=E/R at and decays exponentially to zero as t . The product ARC appears in both equations and has the dimension of time. The exponents in those equations must be dimensions. ARC is called the time constant of the circuit and is represented by the symbol r. It is the time in which the current in the circuit has decreased to Lie of the initial value. Likewise, in a time the charge increases from zero to C E(el-l). The potential across the resistor will change as (10) and across the capacitor as q PVC = (11) Both functions change in time as exponential functions with the time constant t=ARC. Discharging a capacitor. Assume that the capacitor in Fig. 1 is fully charged and the potential across the capacitor is equal that of the battery. At time the switch is thrown from a to b so that the capacitor can discharge through resistor R. Substituting in CEQ. 4 we can write the discharging equation: (12) The solution for this equation is = Joe (13) The current can be obtained by differentiating CEQ. 3 i(t)= = ole (14) The minus sign indicates that the direction of the discharge current is in the direction opposite to the charging current. Both functions, q(t) and i(t), decay exponentially with the same time constant = ARC. The potential IVR across the resistor is given by (15) and the potential across the capacitor, PVC, changes in time as ) TTL PVC(t)- (16) Fig. 4. Resistor-capacitor network 2. Procedure The time constant t may be determined experimentally either during charging or discharging of the capacitors. You will use the R-C network shown in Fig. The switches allow you to select different combinations of resistors and capacitors. The positions of the switches shown in Fig. 4 result in the ARC circuit with . Ox Q and C=O. XX-6 F, compare Fig. 5. Fig. 5. ARC circuit corresponding to the positions of the switches in Fig. 4. To charge the capacitor you will use a DC Power Supply, Paso model 9049. Select the 30 V range. T he R-C network is designed to work only within this range. The VARIABLE control turns the power supply on and varies the voltage from O to IV. The output voltage can be read on the bottom scale of the meter. The output terminals have different colors, black for negative terminal and red for positive. Green terminal is only for 500 and 1000 V ranges do not use it!! Charging a capacitor. Set the circuit as shown in Fig. 6. Select a resistor R and a capacitor C. Attached the electrocuted to measure the voltage across the capacitor. Close the switch and start the timer. At regular time intervals record the capacitor voltage. Fig. 6. Experimental set up to charge a capacitor. Discharging a capacitor. Charge the capacitor to the initial potential of 30 VIDE. Disconnect the power supply and close the circuit by sliding the switch to he bottom position. Simultaneously start the timer. Use the electrocuted to measure the voltage across the capacitor at the same time intervals. Repeat point (1) for other values of R and C. 3. Repeat the experiment by charging and discharging capacitors as in (1 ) and (2) but this time measure the voltage across the resistor. According to Ohms law, potential is proportional to resistance multiplied by current. Hence, the potential across the resistor is proportional to the charging current. 3. Report Plot logarithm of the capacitor voltage during charging versus time for different ambitions of R and C.