1. Capitalism - Force of Social Change
Traditionally, economic systems were based on the imperative models of capitalism socialism and communism but recent political and economic developments across the world have caused dynamic changes in this area. ... Hence the modern approach defines economic systems in terms of organizational features, which basically refers to the system of communication within groups. ... The political events of the 1990's make it clear that countries wanted a change from the set systems of capitalism, socialism and communism as they sought better systems and higher efficiency. ... It is essential th...
Historic materialism is defined as a society's past performance and present capabilities of satisfying the basic means of life. ... These steps are primitive socialism, feudalism, capitalism, socialism, communism and then anarchy. ... Power is defined as control of the resources. ...
Glautier & Underdown (1991) bring our attention to the fact that accounting was defined the following way by Littleton (1953): "The central purpose of accounting is to make possible the periodic matching of costs (efforts) and revenues (accomplishments). ... In 1961 the AICPA, or American Institute of Certified Public Accountants, defined accounting as "the art of recording, classifying and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character, and interpreting the result thereof". ... In 1966 the American Accou...
The vast economic reformations undertaken by China at the end of the years seventy, the peaceful breakup of the communism of the Soviet block at the end of the decade of 1980 and the one roots and constant growth of the reformations with base in the market that took place in the democratic India in the years ninety, figures among the most notorious examples in this tendency. ...
Moreover, the end of the cold war and the fall of communism in 1988 precipitated the communist countries to adopt a new model of economy. ... These countries (China, India, Bangladesh, Brazil, Malaysia) are defined by having strongly improved their trade performance. ...
This in fact indicates the diffused and flexible nature of globalisation, meaning that it can be defined to suit anyone's agenda and interests. We see liberal economists, socialists and even environmentalists all defining globalisation to suit their own political and academic agendas and criteria. ... Rather, we will try to define it so that everyone is able to grasp it and understand it based on the reality that encompasses us today. ...