Set out the main elements of Adam Smiths economic theory‚ and explain its strengths and weaknesses. Adam Smith‚ who is well known as the father of capitalism‚ was born in Scotland in 1723. After turning fifteen‚ he went to Glasgow University‚ where he majored in moral philosophy. A short two years later he carried his education on to Balliol College‚ in Edinburgh. He later became a professor at Glasgow University. In 1776 he published his most important work‚ The Wealth of Nations which was his
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all the best because back when he was a child he was stung in the eyes by bees. He uses his disabilities to his advantage. His eyes see when others are looking. His short body makes him strong. His rotten teeth shows that he admits to his weaknesses. His strengths show when he is
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Stanley Milgram carried out one of the most famous studies of obedience in psychology. He was a psychologist at Yale University‚ conducting an experiment that focused on the conflict between obedience and morality. It showed that people have a strong tendency to obey with authority figures. Milgram was interested in researching how far people would go in obeying an order even if it involved harming another individual. He was fascinated on how easily ordinary people could be influenced in committing
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Milgram experiment Have you ever wondered how people could do some of the heinous crimes that you have heard about in the news or in history? Have you ever thought what would possess someone to do some of the awful thing like the things they did in the holocaust? Well you aren’t alone in that thinking. Stanley Milgram a famous psychologist thought about the same thing. He wanted to figure out if what the Nazi soldiers was true when they said that they only did those awful things to the Jews because
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1. Prepare to discuss the strengths and weaknesses of the various measures of investment attractiveness as used by Euroland Foods. Will all of the measures rank the projects identically? Why or why not? i. Payback period: The advantage of the payback period: To some degree‚ we can say that the shorter the payback period‚ the less risk the investment is. So the measurement of the payback period takes into account of the risk of the investment. In addition‚ with the shorter payback period
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was passing down orders from higher authority. The frightening thing about the Milgram experiment is that it proves that Hoss’ makeup was not dissimilar from that of any ordinary person and if any ordinary person was put in the situation of Hoss to carry out the extermination of people‚ they would follow through with these orders just like how the 65% of people followed through with the electric shocks of the actor. Milgram also added factors like socialization through family‚ school‚ and military service
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Investors of asset backed securities (ABSs) are subject to interest rate risk. When interest rates rise‚ the prices of ABS fall‚ and vice versa. The risk of rising interest rate will affect yields because it may influence the pace of prepayments of the underlying loans. This is normally in the case of mortgages consumer asset backed securities. The underlying borrowers of asset backed securities may fail to make interest and principal payments when due and unable to meet other obligation such as
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In a series of experiments regarding obeying authority‚ Stanley Milgram found that “the physical presence of an authority is an important force contributing to the subject’s obedience or defiance”. Milgram concluded from his study that the proximity of an authoritative figure plays a huge role in determining whether or not the subject carried out the experiment. Specifically in the
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One of my weaknesses is being a charismatic leader‚ most of the employees say that if I leave the insurance agency it would fall apart. Sometimes I feel as though I can do no wrong and I am to important to the agency to be let go. I need to cross train more‚ I am the only person in the agency that is an expert in manufacturing risks and the only person that is an expert in surety bonds. This puts the agency in a very volnerable situation and if I should be removed or leave the agency it would be
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1. What is the “Lucifer effect” and how was it evident in the Milgram Study? The Lucifer effect refers to a transformation of human character that causes good people to commit evil actions. The effect was seen in the experiment where the prisoners and the guards started to become hostile towards one another even though they weren’t like so before the experiment. 2. What are “shield laws” and what role did they played in the Weinstein Decision? Shield laws are laws that protect researchers from being
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