Wednesday, August 30, 2017

Linkopedia

http://linkopedia.azurewebsites.net/

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Tuesday, August 29, 2017

Absolute and Comparative Advantage (MR University)

https://www.youtube.com/watch?v=Z1MdriPD7pE

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Sunday, August 27, 2017

Tax

(adapted by C.M. Heydenrych fom other sources) Many statements are made in this article for which references need to be provided. There are many criteria for a "good tax" - all taxes however reduce the demand for that which is taxed. For example a sales tax would increase the price and that will mean that less of the product is demanded by the consumer. If less is demanded, less will be produced and that will affect employment and growth negatively.

Taxes are never neutral.

1. Equity:

The distribution of the tax burden should be equitable. Everyone should pay his or her ‘fair share’. A poll tax would be the fairest from that point of view.

2. Neutrality:

Taxes should be chosen so as to minimise interference with economic decisions in otherwise efficient markets. Such interferences impose ‘excess burden’ which should be minimised. This in reality is impossible.

3. Efficiency:

Where tax policy is used to achieve other objectives such as to grant investment incentives, this should be done so as to minimise interference with the equity of the system. In this regard VAT seems to meet the criteria best. 4. Certainty:

The tax which each individual is bound to pay ought to be certain and not arbitrary. The time of the payment, the manner of payment, and the quantity to be paid, all ought to be clear and plain to the contributor, and to every other person. This is not the case in South Africa - Mark Shuttleworth had to go the constitutional court to keep his money that the tax authorities wanted to arbitrarily confiscate

5. Economy:

Every tax ought to be so contrived as to both take out and keep out of the pockets of the people as little as possible over and above what it brings into the public treasury of the state. Administration and compliance costs should be as low as is compatible with the other objectives. Again the complexity of the South African tax system adds huge administrative costs.

6. Simplicity:

The tax system should permit fair and non-arbitrary administration and it should be understandable to the tax-payer. It means that the tax-system should be easily comprehensible to the tax-payer, i.e., its nature, method and basis of estimation should all be easily followed by each tax-payer. The SA tax system is very complex and creates many loopholes - this explains the huge "tax industry - accountants and lawyers need by business and individuals

7. Convenience:

Every tax ought to be levied at the time, or in a manner in which it is most likely to be convenient for the contributor to pay it.

8. Productivity:

A tax system to be thoroughly sound and enduring must be able to generate enough revenue to meet the requirements of the government. Government needs however seem to grow to the degree individuals are made to pay.

9. Elasticity:

In the system, there should be a capacity to respond quickly to the changes in the demand for revenue. This is particularly tru in war situations; however history has shown that once a tax is instituted it is very difficult to remove.

10. Diversity:

The tax system should be such that it depends on a number of taxes, so that every class of citizen may be called upon to contribute something towards the state revenue. This however leads to complexity of the tax system which then has its own problems.

11. Fiscal Objectives:

The tax structure should facilitate the use of fiscal policy for achievieng of growth objectives. This is the reason that many tax jurisdictions have reduced the tax levels to improve the economy. Mauritius, which is currently (2017) growing at more than 6% per annum is a good example. see www.freetheworld.com

also see www.mruniversity.com

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Thursday, August 24, 2017

REFERENCING - WIKIPEDIA

DO NOT REFERENCE WIKIPEDIA, INVESTOPEDIA and THE LIKE.

You are correct – If you do reference it just put (Investopedia.com) after the name used and be sure to give the full reference in your Bibliography/References

I would like to make another point however. Investopedia and other sites such as this are not peer referenced sources and as a general rule should be avoided. They often copy their content from Wikipedia! It is better to go to more credible resources for information and referencing.

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Monday, August 21, 2017

Getting graphics into your MANCOSA assignment

There are a number of ways of getting graphics into an assignment:

Find a graphic on the internet and adapt it using the appropriate software – if you need help talk to me. (Remember to reference ANY sorUce that you may have used - Adapted from ...

Normally it is not very productive to create it from scratch using exel – though one could do it if one inputs the correct data.

One can draw it and take a photo.

One can take a photo or scan it from a textbook.

Why don’t you send me your best attempt, then I will give you feedback.

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Sunday, August 13, 2017

Equality before the law but not equality as a rule.

Unequal pay.

Here is a situation:

I have a job for a (enter ANY job that you believe can be performed by a one-armed person as well as an able bodied person would).

Two people apply for a job.

Person A is a regular person (with two arms)

Person B is different (has one arm) – all other things being equal.

Now if the law (or social pressure, or any pressure from society says “equal treatment (“equal pay”) for equal work, most employers will hire person A, not so? If I am expected to pay $x for the job to be done I (based on my preconceptions and biases) will employ the person who apparently will do the job best, and here it seems that the able bodied person meets criteria best. Why will I settle for the one- armed person if I have to pay the same salary; rather get more for the same price - it is only natural to argue in that way. I also haven’t got the time and resources to embark on an in-depth costly process to take a decision where my previous experiences, biases, or whatever I use to make the decision, have proven to reduce the risk of making a mistake. If I did invest this extra I may find that some one-rmed person exceed able bodied person by miles in performing the expected task. So I make the safest decision using a cost-effective approach to arrive at a “best value for money” decision or what economist will call where “the expected marginal return is the highest relative to marginal cost. All human decisions follow this rule.

Having to pay different people equally leads to eliminating the “disadvantaged” from being considered for employment.

The only way to give the one armed person the chance to being employed is to allow the disadvantaged to be able to offer his/her services at a lower rate and not to force the employer to pay the same rate for everybody – especially not at the point of the initial decision (where detailed information of actual job performance and results are difficult to ascertain).

If in the above example the one-armed person could negotiate a lower rate the employer will consider employing him/her because the value proposition to the employer will become more attractive as the rate is lowered.

Now replace (one armed person) with any group that may be discriminated against such as “being fat”, “from a disadvantaged group”, “an old person” or “a women” or “inexperienced” or whatever grouping that may be discriminated against) – if you HAVE to pay the same rate, persons from these groupings will be less likely to be employed.

At this point the reader may want to shift the argument to – Yes, but if a woman has been doing the same job as say a man for some time, wouldn’t it just be fair to pay her equally to her male counterpart? The answer is “yes” and that is why larger organisations institute job grading systems and attempt to link pay to performance and so on. However, the notion that one should resolve the situation by forcing the employer to have to pay the woman the same, will only strengthen the reasons not to hire women in the first place.

Now this situation may reflect a sad state of affairs but any attempt to solve the problem by force will lead to an even more hurtful and a more dysfunctional society.

However - all said and done: Here is an absolutely brilliant presentation on some of the underlying issues and concerns that underlie some the decisions taken in relation to gender equality and what to do about them - https://www.youtube.com/watch?v=6fudKu8Pxak&t=2829sCH.

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Saturday, August 5, 2017

Plagiarism

https://sites.google.com/site/savideovarsity/ethics/plagiarism

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