The Theory of Value Term Paper Example | Topics and Well Written Essays - 2500 words

The Theory of Value - Term Paper Example This will include the critique of the neoclassical economists and their theories and concepts. It will critique the marginalists and what they put forward in their theorization of Economics. Adam Smith & The Theory of Economics Adam Smith is widely accepted as the â€Å"father of Economics†. However, it appears that his view of Economics was steeped in a culture of treatises that were being written by philosophers and theorists who sought to explain how a modern and â€Å"civilized† nation should behave. This include a generation of writers who came before him like Hume, Locke and several others who put forward theories and views about various aspect of social organization. Adam Smith defined the theory of value and the creation of wealth in his book Wealth of Nations. In the book, he primarily defined the division of work as a fundamental element of creating value for nations and societies in his era (Smith, 2000a). According to Adam Smith, the division of work theory was meant to harness and bring together skills, dexterity and judgment to produce goods and services for consumers who needed them in the modern society. This was to involve the break down of manufacturing into separate parts. Thus, the production cycle was to be divided into different units whereby people would take up various duties, specialize and produce to meet specification. This proposition inevitably sought to promote an improved quality of work. Adam Smith's value creation system was to be controlled by individuals who would have access and control of the various production systems and factories. These entrepreneurs would seek to increase the quality of work and create value by breaking down work and allowing people to do it as jobs or employment rather than as slaves (Smith, 2000a). Instead of slaves being kept and fed, people would be allowed to work in exchange for wages and there could be a public sector that regulated some universal aspects of life. This include politi cs and government that would run the society and help things to run well. However, individuals had to do things in the right way and manner. According to Adam Smith, (2000b), the society with a private and property owning ideology had to be regulated with some degree of moral philosophies which he classified in four main classes: 1. Ethics of Virtue 2. Private rights and national liberty. 3. Familial rights (Economics) and 4. State and Individual rights (Politics) These systems could be said to have influenced the conceptualization of private enterprises, the public sector, rule of law and politics/government. Adam Smith's theories were the actualize and rationalize the concepts of Reverend Thomas Malthus which were primarily related to the need for some kind of controls and checks to promote humanity. In Malthus' theories and ideas, the world was on the verge of seeing a crisis. Until checks and controls were put forward, people were likely to suffer severely. Adam Smith's work was one of the first works that sought to provide a logical and structured view of how to deal with the impending social disasters with the rising numbers of people. The Classical Theorists David Ricardo read about Adam Smith's concepts and theories from his book Wealth of Nations in the late 1700s and he embraced his ideas systematically. Ricardo's book, Principles of Political Economy and Taxation released in 1817 was a

Bestmovies released in the past three years Essay - 1

Bestmovies released in the past three years - Essay Example Kleber Mendonca Filho directed the movie. This film documents a magnificent residential suburb that is located towards the south of the city and borders the Atlantic. There is a significant warning on the beach that warns visitors to be aware of sharks. The community in the Neighboring Sounds suffers from stress caused by the environment that is constantly changing. Apparently, the build environment has complicated the lives of residents in this city (Filho, 2012). The white and black photographs in the movie, the setting portrays a rural community that is coherent and builds around a master house. The presence of a sugar mill and school that is socially mixed further points to the historical times of the community. The film then assumes an urban area that is brightly lit with high apartments and some other ancient buildings. A Rollerblades girl follows a boy through a car park built under the ground until they disappear into an area that is enclosed. When the film opens in part one, Beatrice is shown seated at the kitchen due to lack of sleep. Apparently, some dogs are noisily yelping across the yard of the next door. To overcome this irritating noise, she decides to drug the dogs, an action that surprises her daughter. The director then shows an old, white bearded and widowed patriarch who once owned the entire area. Apparently, this former sugar baron Francisco is now selling the area in bits for purposes of redevelopment. His family lives and run the area. Among them, include the old man’s grandsons, Dinho and Joà £o who are cousins. Apparently, Joà £o took his studies in Europe and acts as the estate agent, albeit with much laxity. On his part, Dinho is a student without good reputation due to his numerous cases of petty theft. Both Dinho and Joà £o share the belief of closeness to the female servants and the boys who mostly do odd jobs. However, a new class has