Capitalism against the Welfare State: Classical Political Economy
Some thought the welfare state is incompatible with capitalism. This conviction can be retraced to Adam Smith. He understood welfare as being secured primarily through the market. More clear reason for incompatibility is that without the compulsion to work an efficient market could no longer function because there would remain no
Summary of The New Basel Capital Accord
1. Introduction
은행 감독 위원회의 바젤 위원회는 바젤의 새로운 주요한 협정(일컬어 Basel II)을 발표했다. 위원회의 목표는 새로운 협정을 4분기에 실행을 하여 2006년 연말까지 가맹국에 효력을 발휘하는 것이다. 위원회는 2개의 부문에서 공공의 정책이 중요한 이점을 얻
1. The comparison and contrast of ‘state capitalism’ and ‘market capitalism’
There are about two capitalistic means in keeping monopolistic capitalism. One is 'state planning like monopoly, cartel'. Another is 'collective relations like Soviet union'.
The reason that state capitalism is associated with the Great Depression is state capitalism happened because of the Great Depression.
1. With which of the international competitors listed in the case is it most interesting to compare Inditex’s financial results? Why? What do comparisons indicate about Inditex’s relative operating economics? Its relative capital efficiency?
GAP H&M Benetton Inditex
ROIC -0.15% 24.16% 11.20% 27.24%
Return on sales -0.06% 9.60% 7.05% 10.46%
COGS/sales 7
Herman Melville
Born in 1819. 8. 1 in New York city
Died in 1891. 9. 28
Novelist, Essayist, Poet
Family’s bankrupt and father’s death → had to work a lot
South seas adventure
Tragic insight of human and life, symbolism
“Typee”(1846), “Moby Dick”(1851)
Summary
The narrator is a lawyer working in Wall Street. He hires Bartleby, the Scrivener and problem begins. Bartleby r