while Adam Smith was ignoring the severe impact of rising food prices. Malthus did not. Malthus agued that the economic system‚ as it was working‚ needed some remedial action. Malthus major contribution where his “ theory of population” and “ the theory of economy crisis” it was his theory of population that dominated his writings. He made many other contributions to the study of economics. He anticipated a member of theoretical contributions of later times. His thesis of deficiency of effective demand
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AGENCY 1. Agency Relationship Cases Definition Principal authorizes Agent to enter into legal transactions (contract) with Third Party on Principal’s behalf Agency relationship between P and A A’s obligations to P: 1. Act according to terms of appointment and within scope of authority 2. Not liable to P or TP 3. Carries out duties with care and skill‚ keep true and proper accounts 4. Cannot conflict P’s interest / act for personal gains 5. Cannot delegate whole duty to others P’s
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Utilitarianism theories hold that the moral worth of actions or practices is determined by their consequences. An action or practice is right if it leads to the best possible balance of good consequences over bad consequences for all affected parties. (Arnold‚ pp 17) Utility = whatever produces pleasure or happiness‚ and prevents pain or suffering. Utilitarianism = an ethical philosophy that says the most ethical decision or course of action is the one that maximize utility. Utilitarianism
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Literary Theory and Criticism and Its Relevance Today Literary criticism is primarily the evaluation of the importance of a particular work or body of work on such grounds as: the personal and/or cultural importance of the themes and the uses of language of a text; the insights and impact of a text; and the aesthetic creation (or‚ performance) of the text; mainly as these areas are seen to be reciprocally dependent‚ supportive or inflective. The word ’criticism’ has ordinary-use negative connotations
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The agency theory deals with agency problems resulting from conflicts of interest that may emerge in contractual relationships when parties are differently informed or uncertain. The main objective of agency theory is to explain how contracting parties design contracts to minimize the costs associated with such problems. Agency theory also underscores the existence of market and institutional mechanisms that complete contracts to reduce these problems. Agency theory upon two key concepts: asymmetric
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or a mask. This theory believes that the loss of one’s identity leads to a lack of inhibitions and therefore a change in normal standards of behaviour. There have been questions raised as to the validity of the de-individuation theory and whether it can be used to explain group behaviour. This essay will explore the support and criticisms of the de-individuation theory as an explanation for group behaviour. This essay also explores alternative explanations such as the norm theories which can be argued
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Business and Society Review 110:1 59– 76 Applying the Agency and Stakeholder Theories to the Enron Debacle: An Ethical Perspective Blackwell Oxford‚ Business BASR © 0045-3609 O 1 110 BUSINESS CULPAN riginal 2004 Center UK Article and and Publishing‚ and TRUSSEL Society for SOCIETY Business Ltd. Review REVIEW Ethics at Bentley College REFIK CULPAN AND JOHN TRUSSEL INTRODUCTION W e examine the infamous Enron debacle from an ethical perspective by defining its theoretical underpinnings and analyzing
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Plato’s theory of forms‚ also called his theory of ideas‚ states that there is another world‚ separate from the material world that we live in called the "eternal world of forms". This world‚ to Plato‚ is more real than the one we live in. His theory is shown in his Allegory of the Cave (from The Republic‚ Book VII)‚ where the prisoners only live in what they think is a real world‚ but really it is a shadow of reality. According to Plato‚ to the prisoners in the allegory and to humanity in the material
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NOTES ON TRANSLATION CRITICISM sources: House ‘Quality’‚ House Model‚ Newmark Textbook A criticism of a translation is different from a review of a translation. Review = comment on new translations‚ description and evaluation as to whether they are worth reading and buying Criticism = a broader activity‚ analysis in detail‚ evaluating old and new translations ‚ assuming that readers know the translation Translation criticism should take into account all the factors and elements in the process
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Theories That Seek To Define and Explain Agency. 1) Power Liability Theory - Agency exist when a person acquires the power to alter the P’s legal relations with a T so that onlt the P can sue or be sued by the T - Issue: It focuses on external rather than internal aspect of agency. Furthermore some agencies do not fall into that definition i.e. Estate Agents 2) Consent Theory - Agency is a fiduciary rship that arises when a principal manifests assent to another person (A) that the A should act on
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