Although the Sarbanes-Oxley Act was passed by Congress for positive reasons, there are many disadvantages that come along with it. A major issue is the cost of regulation, especially for smaller companies. Expanding internal controls delay the timeliness of financial statements by adding processing time to accounting functions. To follow the SOX, companies would need to separate duties, causing an increase in personnel. The SOX also calls for additional audits which increase business costs.
Disagreements erupted over how the colonies felt that they should be treated and the way they were actually treated by Britain. The British stance was that the colonies were created for the benefit of Britain and the Colonialists wanted more say in their own existence. One main cause of the revolution was that the Colonists wanted more representation within the British government hence “no taxation without representation”, (Hickman n.d.), Britain was unwilling to do this. Another factor was the geographical distance between Britain and the Colonists, this created a sense of independence with in the colonies. Britain therefore tried to tighten control over the Colonists through a series of acts designed to quell any sense of rebellion.
John Hobson, an English economist, saw imperialism as inevitable, for powers of production outpace consumption resulting in more profit for the mother country (doc 2). The United States was involved in imperialism due to the Monroe Doctrine of 1823, which made the western hemisphere an American protectorate and their victory in the Spanish-American War making them a Pacific power. Both Europe and America believed imperialism could bring them economic power and capacity. Imperialism was not strictly confined to economics; it also included the political aims of unique states. John Hobson deemed demand for foreign markets for manufacturers and investments was responsible for the adoption of Imperialism as a political policy (doc 2).
This was most likely why the British government did not support the plan, as it would have given the colonists even more power to self govern, and would have allowed the Colonies to have more power of taxation during a time where Britain was beginning to levy more taxes on them. However, had
These policies might be more in the interest of MNCs and the developed countries rather than the developing countries. 9. People in developed countries are beginning to suffer from “aid weariness” and think that the problems in their own economies may be more important than in others so this may start to reduce the flows of aid. 10. Loan repayments on financial aid may lead to massive problems of indebtedness for developing
d. Based on the state of the arms race in 1914, if you were a British citizen, how would you feel? Explain why. I would feel proud of our empire, safe because of our great naval army/force making it highly unlikely to be raided by other countries. I would feel honored because we have France and Russia as allies to aid us. 2.
The reason for why governments in developing countries sometimes are unable or unwilling to implement polices that create favorable conditions for economic growth boils down to two main reasons: social issues and political issues. Political issues are just as multifaceted as the social issues. Due to corrupt governments and regimes the lawlessness spreads throughout the developing nation like wildfire. Political issues revolve around the basic needs of a nation such as simple, yet, necessary infrastructure of schools, hospitals, septic tanks, etc. The necessity of public goods is vital for a developing country to survive, maintain, and become what we consider today, a developed country.
This will allow different parts of the world to enjoy merchandise that is specific to one country. Throughout the past it has been proven that by introducing industries’ and the use of globalization has strengthened a country’s economy. I am a pro economic globalization because I feel that we need to change the way of the past if nothing seems raise the economic standards. Hopefully we will be able to realize that economic globalization is working so we can help countries quickly and efficiently. Economic globalization has attracted much debate throughout society today.
Domestic Policies ! Roosevelt: As a progressive president, Roosevelt designed his domestic policy to fight against corruption and big industries so that the common man would recieve assistance. One of his implemented policies was the Square Deal which was targeted to improve the standard of living and extend control over large corporations and trusts. The ‘busting’ of the Standard Oil trusts was one of Roosevelt’s famous break ups of Northern Securities. !
Rather, an important goal of current welfare policy is to facilitate the transition from welfare to work. What arrangements are best suited to realize this goal may vary from state to state and city to city. A decentralized approach may therefore be more successful. On the other hand, Ellwood asserted, some federal role in welfare is still appropriate, given wide disparities among states in wealth, per capita income, and the incidence of poverty. In light of these disparities, he believes that a “race to the bottom” is a real threat.