Answer the following question about Adam Smith with 1-2 paragraph Essay

Answer the following question about Adam Smith with 1-2 paragraph answers - Essay Example Q 3. Self-interest in the context of the book means that an individual applies his talent to a certain craft or job so he can exchange his produce with other goods which he will need for himself. A person is motivated to apply himself to work, which others can benefit from, not for the sake of others but for his own self. Self-interest entails wisdom and intelligence whereas selfish and egotistical motives refer to vanities and mindless instincts. Smith had self-interest in mind when he stated the aforecited passage. Q 4. This statement simply means that all men need the same basic things to survive, food, shelter and clothing. This aspect of a man’s life makes a genius an equal to the street porter because a genius ( like the philosopher) and the average-intellect person (street porter), both need food to live and, need clothes to wear for protection and shelter to protect himself from the elements. 2 on the theory that the value of a thing, is dependent upon its usefulness. Smith, in introducing this new theory, pointed out that water is very useful but without value while diamonds are valuable but are useless. Q 6 It is unfair and wrong to demand rent on top of the land rent because it – a non-labor income – already grants the tenant the right to use the land in accordance to the agreement between him and the land owner. Smith advocated that land rents must be taken from the surplus profits of the produce of the land and therefore the rate of which is dependent upon other variables like quality of the produce, the law of supply and demand, their marketability and the like. Q 7 The law of supply and demand, that is – the price of goods goes up because the demand exceeds the supply. When somebody important dies, the family, the relatives and the supporters of the deceased will be wearing black to show mourning and thus there is a heightened demand for the black cloth. This will have the effect of raising the price of the black

Government Corruptness in China Essay Example | Topics and Well Written Essays - 1250 words

Government Corruptness in China - Essay Example It is very hard to fight against corruption in the country with self-appointed leaders. Their work is performed by their advisors and thinkers. It is necessary to take Chinese leaders out of their thinking vacuum filled with Marxism into a global context. Another thinker George Zhibin Gu supposed that occurrence of corruption in Chinese government is possible and even predicted. Li was a cruel ruler, who forbade freedom of thoughts, reading some books, travelling and other insane communist methods (Glassman 1991, p. 32). From a social perspective, corruption in China may be referred to: â€Å"the low wages of civil servants, the many opportunities for corruption during the last two decades of Deng Xiaoping's modernization policy, and the lack of political will in implementing anticorruption measures against senior party officials† (Glassman 1991, p. 41). Unfortunately, no radical measures were taken to stop corruption in the country. The death penalty for bribery was not effec tive against senior party officials. Corruption in Communist China In 80s Chinese society considered bribery as "the most prevailing social crime" (Gu, 2010). A social turmoil caused by protests against corruption occurred in 1989 when students went to demonstration against it. Mass media in China has "dramatically increased the exposure of corruption cases to highlight the party's determination and efforts to repress corruptions" (Gong 1994, p. 54). Unfortunately, these actions were not effective and corruption remains one of the most negative phenomena in the Chinese society. Corruption is an unhealthy practice and there is a need to look for an efficient remedy for it. On the other hand, once political system of the country has started its work in a close coexistence with corruption, it means that it accepts it. Nevertheless, for Chinese society the Chinese Communist Party makes an attempt to purify its image and develops anticorruption strategies and rules. For example, it stren gthens a production control; forbids any presents at work for officials; disciplinary penalties are applied for public offenders (Wei-Ming, 1996). The cases of corruption were mishandled in 1987 when the Central Discipline Inspection Commission (CDIC) and the Ministry of Supervision (MOS) were reestablished to curb corruption and maladministration (Wei-Ming, 1996). This happened in 1982. But 1987 numerous complaints were accumulated by these institutions, but they could not be dealt with because of a lack of political will. The Chinese government has decided to subject corrupted officials to death penalty in case they accept brines exceeding 100,000 Yuan, or US$ 12,000 (Gu, 2010). Explanation of corruption Therefore, it is relevant to develop a complex approach for dealing with corruption in China. In accordance with Huntington's theory on corruption, this phenomenon is positioned as a lack of a proper "political institutionalization"(Wei-Ming, 1996). In case institutionalization is present to the fullest extent, political processes are stable and applied procedures are valuable. Moreover, the researcher suggests that a possible reason of corruption may be bureaucracy dependency on other social groupings and act in accordance with bureaucratic methods of behavior. It should be noted that corruption may be caused by an external influence of officials caused by their families and relatives, because the primary goal of officials is not to act in favor of the government, but to act in favor of their families. It is possible to take into account other factors causing corruption: an improper adaptation of the government to the changing environment; deregulation of social activities and economic practices of the country; excessive discretion