Economic Capital

Economic Capital
EconomicThis document has been made available on www.actuaries.org.uk with the permission of
the Society of Actuaries, Schaumburg, Illinois. Copyright 2008.
Specialty Guide on Economic Capital
Version 1.5 March 2004
Section
I. II.
Page
FOREWORD...................................................................................................................1
INTRODUCTION AND OVERVIEW ...............................................................................2
III. EXECUTIVE SUMMARY ................................................................................................3 IV.
HOW DO WE DEFINE ECONOMIC CAPITAL? ............................................................5 ... Show
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Please refer to this website for any recent developments by this subgroup.
3
III. Executive Summary
Economic Capital ("EC") has become a topic discussed at various industry conferences, received
attention by regulators and rating agencies, and has shown up over the years in various other
disciplines, in particular in the banking industry. While the topic is becoming more mainstream, a
standard definition of EC is not readily available, as shown by the wide variety of responses to our
Economic Capital Survey. While specific definitions vary, some common threads tie the various
descriptions together: Sufficient surplus to cover adverse outcomes, A given level of risk tolerance,
and A specified time horizon. An assortment of risks and various tolerance levels utilized by
companies are listed in this document, based on the survey results. Although virtually all types of

risks are mentioned, development work to date has been more focused on financial risks, and
therefore the document primarily explores these in more detail. While Regulatory and Rating
Agency Capital have fairly well defined uses (i.e., determining solvency and creditworthiness of an
organization), Economic Capital impacts many company business management and decision–
making processes. EC can also have quite a few macro applications within a company. For example,
a company can be
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Cultural Capital And Social Capital
Alongside both racist and sexist media constructionism, hackneyed class cliches are equally as
pervasive. Pierre Bourdieu coined the phrase 'cultural capital' which is the representation of the
cultural knowledge, temperament and disposition that is inherited from generation to generation.
Published to the Oxford University Press, Pierre Bordieu explained his theory of cultural capital as
consisting of three elements: "cultural capital can exist in three forms: in the embodied state, i.e., in
the form of long–lasting dispositions of the mind and body; in the objectified state, in the form of
cultural goods (pictures, books, dictionaries, instruments, machines, etc.), which are the trace or
realization of theories or critiques of these theories, problematics, etc.; and in the institutionalized
state, a form of objectification which must be set apart because, as will be seen in the case of
educational qualifications, it confers entirely original properties on the cultural capital which it is
presumed to guarantee" (Bourdieu 1978). Another important facet of Bordieu's theory of cultural
capital is a 'habitus' which is "a set of dispositions that incline agents to act and react in certain ways
– particularly, the result of structural conditions, but it simultaneously organizes practices and
perceptions." (Bordieu 1978) Noticeably similar to social constructivism, cultural capital is an
occurrence that has the capacity to institutionalize harmful stigmatic stereotypes. To further

Essay On Cost Of Capital
Cost of Capital
Introduction
This paper examines key elements of a cost of capital policy to facilitate objective management and
allocation of corporate funds. In order for a company to make long–term investments to grow,
whether that is new equipment, new products or other assets, managers must be aware of the cost of
acquiring any of these assets. The obvious objective for these managers is to earn more than the cost
of capital and in doing so will increase their company's market value. If they fail to adequately
estimate their cost of capital and their long–term investments fall beneath the cost of capital, their
company's market value will decline as a result. This ongoing battle of managing and calculating the
cost of capital and ... Show more content on Helpwriting.net ...
The greater predictability of the dividend policy normally signals a lower risk factor associated with
the company which in turn lowers the overall WACC resulting in lower cost of capital. If the
company is erratic on how they payout their dividends, they could face an adverse reaction to risk
which would raise their WACC and cost on capital.
The last factor that is discussed under a controllable situation is investment policy. When company
is consistent in their investment decisions, it is assumed that they are all relatively similar in degree
of risk. However, when companies change their investment policy with either less or more risky
investments the cost of debt and equity change accordingly. Managers need to take this into account
when looking at the overall cost associated capital ensuring that the company is not paying more
than what is necessary. Uncontrollable:
While managers can control some factors relating to the cost of capital the two more prominent
factors that are uncontrollable are the levels of interest rates and the tax rates. When interest rates
increase it affects the economy as a whole and increases the cost of debt, which increases the cost of
capital. The tax rates on the other hand affect the after–tax cost of debt. As these rates increase, the
cost of debt decreases and brings down the cost of capital. Managers are aware of

Cultural Capital
Whether you may know it or not, we will all possess some type of capital in our lives. Capital is
everywhere, and is a wide–ranging idea that is beneficial to a society and people alike. There are
many types of capital; however, Cultural capital and Social capital are two common types of capital
that have been studied by Sociologists for decades. Cultural capital refers to non–economic things
like skills and arts, and social capital refers the benefits of social networks. In my life, I currently
possess both cultural and social capital. My cultural capital mostly comes from my education. After
almost 12 years of schooling, I have learned many things, however, my cultural capital does not
come from the actual knowledge itself, but from the skills I have developed by growing up in a
public school and in a generally urban city. I have learned skills as a child such as how to read,
write, and speak, which are the most important skills to develop for children. But other than these
manifest functions, I have also developed latent functions such as knowing how to socialize, how to
study, and even how to dress. These things were intended for me to learn, however, they were never
exactly taught to me in my years of schooling. If things similar to these were taught in schools, it ...
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Ever since middle school, I have been taking advanced classes. Taking these advanced classes
classify me, as well as the others in these classes, as being a capable minded student looking
towards college. This puts us in a subculture at our school in which we all share common values of
our education. Taking these advanced classes also shows to others that we are dedicated students to
our education, and have benefited us when applying to college or for jobs. These benefits also
extend out to receiving scholarships, as the advanced students are more likely to receive certain
scholarships that other students may not be available

Professional Capital : Transforming Teaching
In the book Professional Capital: Transforming Teaching in Every School renowned educators Andy
Hargreaves and Michael Fullan set out to transform the future of teaching and public education by
proposing the idea and importance of investing in Professional Capital. According to Merriam–
Webster dictionary, capital is defined as "Relating to or being assets that add to long–term net
worth." The autho 's notion of Professional Capital lies upon the integration of three kinds of capital
– human, social, and decisional. This book provides powerful and evidence–based action guidelines
for classroom teachers, administrators, schools and districts, and policital leaders on how
Professional Capital can transform the future of teaching and public education. The authors'
collaborative research began by exploring the future of education and the teaching profession.
Through their research, they swiftly concluded a vast majority of people shared the notion that the
most important factor that effects student learning is the quality of the teacher. Andy Hargreaves and
Michael Fullan continued to take a closer look at how one can maximize the cumulative effect of
many quality teachers over time, and the favorable lasting impact this would have on the education
of students for many years to come. The ultimate goal of Professional Capital is to increase human
capital or the individual teacher's talents, skills, and capabilities. However, this human capital needs
to be distributed and

Social Capital Reflection
Race/ethnicity, gender, sexuality, citizenship status, phenotype, language, ability status, etc. are all
things that generate certain privileges and/or disadvantages for educational access and opportunity.
Race/ethnicity, gender, etc. also shape our human, cultural, and social capital. Human capital is the
education, training, health, and investments we have. Social capital is the social networks we have at
our disposal. Cultural capital is an accumulation of cultural knowledge, skills, and abilities that are
possessed and passed on by privileged groups in society (2017). In my situation, my ethnicity,
gender, citizenship status, and language have shaped my human, cultural and social capital.
This memory begins with a bus ride. A white beat up bus surged through the deadly heat waves,
swerving around the uneven dirt road full of rocks. I look out the crazed window and gaze at the
moving cars that seem like ghosts with headlights. We were on the way to Tijuana. We had a few
belongings packed in our bags which were all that we could carry. There was no fear or concern on
my part because we were constantly moving.
For months, we had been migrating from one ... Show more content on Helpwriting.net ...
My advantage is being bilingual because I able to communicate in more than one language, so I can
easily communicate with many individuals. When I am searching for jobs I usually come across a
post that says Spanish speaker preferred. I see posts searching for Spanish speakers. I have had five
different jobs and in all five I have utilized both English and Spanish. At a previous job, I had I
worked with a high school teacher and another teacher who has been principal and superintendent. I
was able to get the job because I am bilingual. Thanks to my biliteracy I have two mentors who have
guided me and explained to me the ways to get a job as a teacher. Apart from that, I am able to use
them as references and get recommendation letters as

Social Capital Autobiography
Capital Autobiography
A sociologist defines capital as the assets and individual has that they use for social benefit. This
concept of social capital creates a structure that is carried on from generation to generation. A lack
of capital can severely inhibit someone's college experience, because with insufficient finances, and
an inability to network an individual may not be getting the ideal college experience. Financial
capital is the amount of wealth and physical assets someone has. I personally come from a lower
income household; my mother is on disability and I rely heavily on aid from the government in
order to continue my education. Financial capital is said to be the monetary value an individual is
able to use on situations that will further increase other forms of capital. It is both reasonable and
important that I continue trying to build my financial capital and I can do so by putting any extra
money I come across into my bank accounts in order to collect interest and continue to grow. ...
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My social capital has a steady foundation already and it benefits me greatly here at University by
increasing the number of people I know and relate to which will in turn help me have multiple
career opportunities upon graduation. By knowing numerous people in the field I am studying I am
able to form relationships and bond with others that will later help me network and reach out to
people and better my career. My personal level of social capital has the potential to grow and it is
very important that it does, the longer I spend here at Sam Houston State University the more people
I will be able to communicate with and establish relationships

The Importance Of Natural Capital On Human Capital
Natural capital is interconnected with human capital in that human capital depends upon natural
capital for survival. Human capital relies on clean air, groundwater, surface water, food, soil for
crops, minerals from the soil, crops themselves, fuels, fibers, materials to build with, ocean fisheries,
climate control and regulation, and so much more. Many of the goods and services provided to
humans by natural capital go unnoticed and as a result, natural capital is taken for granted.
Additionally, natural capital also depends upon human capital for survival. Natural capital relies on
human knowledge, skills, experience, education, and capabilities so that it is enhanced and not
destroyed. For instance, rural Dewitt farmers use the soil to plant crops such as corn, beans, and
wheat. They also use the land for baling hay. When there is a drought, the farmers rely on
groundwater that natural capital provides to water their crops. An inexperienced farmer may do the
same crop year after year. Whereas an experienced farmer knows that to keep the soil full of
nutrients and prevent soil erosion, they must rotate the crop from corn to beans and vice versa, as
different crops provide different nutrients to the soil. The education and experience that a farmer has
about the land and its use, could be the difference of natural capital being enhanced or destroyed.
Natural capital depends on social capital for resource productivity and sustainability. Social
awareness and lifestyles that

Capital Budgeting
Week 4 Discussion Question 1b Introduction Capital budgeting is one of the most crucial decisions
the financial manager of any firm is faced with...Over the years the need for relevant information
has inspired several studies that can assist firms to make better decisions. These models are assigned
so that they make the best allocation of resources. Early research shows that methods such as
payback model was more widely used which is basically just determining the length of time
required for the firm to recover the outlay of cash and the return the project will generate. Other
models just basically employed the concept of the time value of money. We have seen that more
current models are attempting to include their analysis factors that ... Show more content on
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Practical problems associated with the Cash Flow estimations Several decision makers have
criticized the cash flow estimations as they simply do not agree with the decisions they have arrived
at from the use of the models. Since there are uncertainties involved in terms of estimates of cash
flows some managers become reluctant to use this method as a part of their decision making process
as the calculations are far in the future. Therefore, they will take into consideration the near term
cash flows. Other managers may have predetermined notions about which project to adopt and may
therefore play with the numbers to achieve a desired result (Brealey, 1984). This can be a problem as
the results they receive are not from faulty models but from the manager's inappropriate inputs into
the models. Another area of concern is the selection or choice of discount rate (Cooper et.al, 2001).
For example if they use an inappropriately high discount rate then this could yield high hurdle rates
or conversely if the rate is too low it yields lower rates. What Cooper recommends is the use of a
discount rate that reflects the firms true cost of capital which is sound theory of finance advice.
Thus, the best to worst case scenarios should be employed to analyze the best possible decision.
When the discounted rate includes

Capital Budgeting Definition : Capital Management
Capital Budgeting Definition Most little to medium measured organizations have no clue how to
approach capital ventures. They regard it as though it were a working spending plan choice instead
of a long haul, vital choice that will affect their income, productivity of their day by day operations,
pay explanation, and assessable pay for a considerable length of time to come. They require your
help understanding the significance of and after that settling on the right capital planning choices.
Capital planning choices identify with choices on regardless of whether a customer ought to put
resources into a long haul venture, capital offices and/or capital hardware/apparatus. Capital
spending plan choices majorly affect a company 's operations for quite a long time to come, and the
littler a firm is, the more noteworthy the potential effect, subsequent to the venture being made
could speak to a significant percent of the company 's advantages. Capital Project Examples Capital
undertakings are typically recognized by practical needs or opportunities, albeit numerous are
likewise distinguished as a consequence of danger assessment or vital arranging. Some regular long
haul choices incorporate regardless of whether to: Buy new office hardware, autos or trucks; Add to
or revamp existing offices, including the buy of new capital gear/hardware; Expand plant or process
operations; Invest in offices for another product offering or to extend administrations;

Professional Capital Teaching
In the book Professional Capital: Transforming Teaching in Every School renowned educators Andy
Hargreaves and Michael Fullan set out to transform the future of teaching and public education by
proposing the idea and importance of investing in Professional Capital. According to Merriam–
Webster dictionary, capital is defined as "Relating to or being assets that add to long–term net
worth." The notion of Professional Capital lies upon the integration of three kinds of capital –
human, social, and decisional. This book provides powerful and evidence–based action guidelines
for classroom teachers, administrators, schools and districts, and state and federal leaders on how
Professional Capital can transform the future of teaching and public education. ... Show more
content on Helpwriting.net ...
Many emergency licenses have been granted to people across the state to fill positions in need,
especially in rural areas. There has also been a movement to hire "community experts" in place of
skilled, qualified teachers who possess at minimum a four year degree in the areas of teaching and
learning. This book offers many arguments against ways in which North Dakota's Department of
Public Instruction and Education Standards and Practices Board is proposing adjustments to aid this
crisis. It has been quoted by a board member on the Teacher Shortage Task Force that "someone is
better than no one" in the classroom. Andy Hargreaves and Michael Fullan would argue that North
Dakota could have a greater return on Professional Capital making greater investments in education
by finding strategies to retain its current teachers and perhaps offering incentives to potential
prospects entering the field. Political leaders must demonstrate a greater respect for teachers, instead
of settling on a solution where teachers are left feeling as though their leaders and the public are
comfortable filling their positions with unqualified community

Capital Rationing
Internal capital rationing
Impositions of restrictions by a firm on the funds allocated for fresh investment is called internal
capital rationing.
This decision may be the result of a conservative policy pursued by a firm. Restriction may be
imposed on divisional heads on the total amount that they can commit on new projects.Another
internal restriction for capital budgeting decision may be imposed by a firm based on the need to
generate a minimum rate of return. Under this criterion only projects capable of generating the
management's expectation on the rate of return will be cleared.
Generally internal capital rationing is used by a firm as a means of financial control.
Capital Rationing
Theoretical Background
When ... Show more content on Helpwriting.net ...
However, a limitation to using the profitability index is that the method assumes that the capital
rationing constraint only applies to the current period and is only useful when selecting amongst
relatively few projects.
In contrast, when capital rationing constraints occur over multiple periods and when there are
numerous projects, Baumol and Quandt (1965) suggest that mathematical programming may be
used to evaluate investments. The linear programming technique is widely used as the model is
specifically designed to search through combinations of projects achieving the highest NPV whilst
subject to a budget constraint. However, Brealy et al (2008) note that a main disadvantage to using
linear programming may be the models can be highly complex and costly.
Empirical Evidence
Several U.S. surveys examine capital rationing in the overall investigation of the capital budgeting
process. The following conclusions have been reached with regards to prevalence of capital
rationing, the dominant causes and tools used in capital rationing analysis.
Prevalence of Capital Rationing
Empirical evidence indicates that capital rationing is prevalent amongst firms. It was concluded that

between 50 and 75% of firms operate under the capital constraint as found by Fremgen (1975) and
Petty, Scott & Bird (1975). Further support for this notion was found

Venture Capital : Investment Capital
Introduction
Venture capital has originated out of the need for non–conventional, high risk finance for new
ventures rooted on innovative entrepreneurship. Venture capital is typically an investment in the
form of equity, quasi–equity and sometimes debt made in novel or untested concepts, championed
by a technically or professionally qualified entrepreneur. Venture capital is risk capital. It refers to
capital investment, both debt and equity, fraught with substantial risk and uncertainties. The risk
anticipated may be very high so that possibilities of high loss exists. However, if successful it can
yield high returns. Venture Capital Definitions
There is no single definition of Venture capital. Jane Koloski Morris, editor of the reputed industry
publication, Venture Economics, describes venture capital as 'providing seed, start–up and first stage
financing ' and also 'funding the expansion of companies that have already demonstrated their
business potential but do not yet have access to the public securities market or to credit oriented
institutional funding sources.
The European Venture Capital Association defines it as risk finance for growth oriented
entrepreneurial companies. It is an investment for the medium or long term seeking to maximize the
return for both the parties. It is a partnership forged with the entrepreneur in which the investor adds
value to the company owing to his knowledge, experience and contact network base.
Meaning of venture capital

Capital Budget : Capital Budgeting Essay
It is probably safe to assume that most households run on a budget and some amount of forecasting,
as there are many individuals who might not have an unlimited supply of money. Decisions are
made about paying household bills in relation to the income that has been generated. Then comes a
point in time when one realizes a need to invest in a home improvement project, this results in an
analysis of the finances such as, the expense and benefit of the project. Company's do the same thing
except on a much larger scale. Individuals within a company have to take into consideration some of
the same things when determining if a project is applicable. This includes, revenue and expenses, in
conjunction with the company's fixed assets, all of which, assists in creating a budget and forecast of
the company's project's potential cost and benefit, this analysis is known as capital budgeting.
Authors Besley & Brigham of the text book CFIN 4, 4th Edition explain, "Thus, the capital budget
is an outline of planned expenditures on fixed assets, and capital budgeting is the process of
analyzing projects and deciding (1) which are acceptable investments and (2) which should actually
be purchased." (Besley & Brigham, 2015, pg. 145). Creating a capital budget and forecast that is as
close as possible to the realized impact is essential, it should illustrate a true picture of investments
anticipated outcome, review the below scenario and see how this concept can quickly change under
pressure.

Summary De Soto The Mystery Of Capital
Ahmed Alqahtani
Dr.
The Mystery of Capital
Despite the fact that this cheerful demeanor towards neediness is certain, keeping in mind through
and through the entirety of slum property is tremendous, has De Soto, an industrialist overlooked
what free enterprise is about? Private enterprise is for the individual performing artist, acting in their
own particular speculation toward oneself. He never answers how the individual living in the slum
can achieve this. I'm tired to acknowledge their property estimation will sum to enough.
The Puzzle of Capital is the most imperative piece of De Soto's book, where he investigates how to
resuscitate this dead capital; his answer is formal property rights. De Soto, clarifies what he implies
by dynamic capital drawing on Smith references saying "for aggregated resources for get to be
dynamic capital and put extra ... Show more content on Helpwriting.net ...
This is on the grounds that the late mass urbanization that has been happening around the globe. De
Soto states "for better or for more regrettable, individuals outside the West are escaping independent
and separated social orders in a push to raise their expectations for everyday life by getting to be
associated in much bigger markets" (De Soto, 70). As being what is indicated, this is an issue we
must acknowledge as certain and location. Especially urbanization must be tended to as these
nations fail to offer the organizations to manage the mass relocation to their urban focuses and they
are bringing about "the fracture of their property game plans and the inaccessibility of standard
standards that permit resources and monetary operators to cooperate and governments to run by
law" (De Soto, 76). Marx would say that this is the bourgeoisie keeping the proletariate from using
the instruments of the bourgeoisie, politically estranging

The Enigma Of Capital And The Crisis Of Capitalism
A Critical Review of David Harvey's The Enigma of Capital and the Crisis of Capitalism Sudheer
Vemuru
Economics 490
10 November, 2014
In writing this paper, I have abided by the Honor Code at UNC–Chapel Hill.
Signature:____________________ ______________________

The Enigma of Capital and the Crisis of Capitalism is a forum for author David Harvey to voice his
concerns on the contemporary global capitalist model. As a Marxist geographer and anthropologist,
Harvey analyzes modern capitalism through a lens of skepticism that results in a scathing
renunciation of the capitalist goals of perpetual accumulation and creative destruction. Harvey
argues that in a world constrained by scarce resources and burgeoning social barriers, the capitalist
process produces a strange dynamic that oscillates between periods of crisis and boom (40). In the
end the capitalist may be able to hedge against her losses, but the vast majority of the population
will wallow in the doldrums, enslaved by the power of capital and unable to pull themselves up by
their bootstraps. Such is the extent of the problem we face in the wake of the Great Recession. The
economy continues to grow modestly, while median household income shrinks (Noss 2). The
capitalists are reloading once again at the expense of Main Street. As Harvey points out, there is a
great need to reevaluate of our views of modern capitalism. The Enigma of Capital is just a starting
point.
Harvey begins his analysis of capitalism with a

Capital as a Factor of Production and the Capital Theory...
1.1. Capital as a factor of production and the capital theory debates
Beginning in the mid–1950s and for the following twenty years or so, a debate concerning the
neoclassical treatment of capital turned apparent in the discipline. This gave rise to a series of
exchanges between scholars associated with Cambridge, England, and Cambridge, Massachusetts,
(US). This debate is broadly known in the literature as the 'Cambridge capital theory controversies'.
The relevance of this controversy lies in that the criticisms of neoclassical theory raised by
Cambridge (UK) concern both the theoretical illegitimacy of measuring 'capital' as a single
magnitude in value terms to determine prices and distribution, and the foundational premise
underlying the dominant supply and demand approach: the factor substitution principle. In the
controversies it has been shown that this principle cannot in general be posited to explain the
distribution of the social product in terms of supply and demand. This result, discovered by means
of the analysis of the relation between prices and distribution in economies with heterogeneous
capital goods, has been revealed as theoretically irrefutable, and, as this study will argue, concerns
the hard core of the neoclassical or marginal theory both in its traditional (capital measured in value
terms) and in its contemporary formulations (capital as a set of heterogeneous goods).
Capital as a single magnitude has been the treatment on which, under conditions

Capital Punishment
Capital Punishment
Capital punishment, also known as the death penalty, is the toughest form of punishment enforced
today in the United States. According to the online Webster dictionary, capital punishment is defined
as "the judicially ordered execution of a prisoner as a punishment for a serious crime, often called a
capital offence or a capital crime" (1). In those jurisdictions that practice capital punishment, its use
is usually restricted to a small number of criminal offences, principally, treason and premeditated
murder. In the 38 U.S. states and within the federal government currently upholding and enforcing
death penalty statutes, this method of punishment varies quite differently amongst them. It is a
controversial issue ... Show more content on Helpwriting.net ...
The crime rate is lower in the states that do not invoke capital punishment, but as Walter Burns
stated "the number of murders tend to rise with the crime rate in general–and not only in America
(4). Capital punishment is maintained to hopefully show criminals that when they kill they will
eventually meet the same fate. By enforcing the death penalty, the government could be trying to
scare criminals from their crimes, and in some cases it has worked. When the death penalty was
restored in Kansas, for example, the homicide rate dropped considerably (7). According to research
done by Bedau, the crime rate continued to soar between 1960–1969, when capital punishment was
rarely being used in most states (7). As a whole, capital punishment has worked to lower homicidal
crimes and deter criminals from illegal actions. Capital punishment could help to keep repeat
offenders off the streets. In some states the common belief is that imprisoning the murders of society
in penitentiaries will keep them from killing again, but this is not true. Even when criminals are
imprisoned, their killing can still continue. Bedau did a survey of all the male inmates in state
penitentiaries during the year of 1973. He came to the conclusion that after the men were
imprisoned for one year, at least sixteen homicides were reported (7). In effect, the

Capital One
Capital One Financial Corporation
1. How is Capital One's use of IT different from other mass customization strategies? Capital One
uses IT through its information–based strategy (IBS) to "record, organize, and analyze data on the
characteristics and behaviors of their customers," as stated by CEO Richard Fairbank. Their
philosophy was to exploit information by constructing scientific models that could be used to both
assess the creditworthiness of potential cardholders through FICO scoring, and to customize product
offerings for existing ones. This was done through data mining, sorting, customizing offers and
marketing campaigns, and then analyzing this data to see what campaigns worked – for what reason
and what ... Show more content on Helpwriting.net ...
Behavioral interviews, case interviews, and standardized tests were used to find raw talent without
focusing on prior industry or marketing experience. These four things are what separates Capital
One from its competition, and will sustain their competitive advantage in the future.
3. What are the consequences of Capital One's IT strategy for expansion into different segments of
the credit card industry, and into other industry's? The immediate consequences of their expansion
strategy proved the efficiency of their statistical modeling to inhibit Capital One from taking any
missteps into industry's that are either saturated or do not allow enough growth in the future. Capital
One considered expanding into auto insurance and auto financing, but fierce competition, low
margins, and stringent regulation kept them from pursuing this immediately. (Capital One did
recently acquire Summit Acceptance Corporation – an auto financing company that focused on the
sub–prime market). Next they looked at the energy and telecom industries, but consumer energy
usage patterns are available publicly which kept them from exploring this option further. America
One was created which resold blocks of calling time enabling Capital One to gain a foothold in
telecom. An ancillary effect of Capital One looking to broaden its horizons into other industries will
promote other companies to review their current IT systems to see where their inefficiencies lie, so
they can

Social Capital
Assignment #2 Questions 1
A. Why is organizational membership considered a form of social capital?
In short, social capital is "the social knowledge and connections that enables people to accomplish
their goals and extend their influences."(1) When joining an organization, members are optimistic of
achieving social capital. They aspire to connect with others who have similar interests and strive to
influence citizens of their beliefs and views. Members have high hopes to one day make a
difference.
For instance, take PETA. PETA stands for People for the Ethical Treatment of Animals. Their slogan
is "Animals are not ours to eat, wear, experiment on, use for entertainment, or abuse in any other
way." (2) Through social capital what was once ... Show more content on Helpwriting.net ...
In 1963 Milgram had his assistant demonstrate authority. Milgram chose teachers at random to
administer electric shock to learners (Milgram's colleagues). The learners were to mesmerize parts
of words, if mistakes were made, the teachers were to administer electric shock with the touch of a
button. More mistakes, led to higher voltage. The learners began to scream and cry out as the
voltage increased. Even though the teachers faced moral dilemmas, when Milgram's assistant told
them to continue over half of the teachers continued increasing the voltage until the learners were
presumably dead. (1)
Stanley Milgram's experiment revealed that average citizens feel pressured to conform, when faced
with individuals of higher authority. Citizens will conform even when faced with individual
morality. Take for example the Nazis. Under the leadership of Adolf Hitler (1889–1945), the Nazi
Party, grew into a mass movement and ruled Germany through totalitarian means from 1933 to
1945. (2) Hitler believed that German people were the purest of the Aryan race, and were therefore
the master

Capital Punishment
Outline
I. Religious Views
a. Hinduism
b. Jainism
c. Buddhism
d. Judaism and Christianity
e. Islam
II. Who
a. Countries
b. States
c. Juveniles
III. What Ways
IV. Why, Laws Broken
a. Laws about it
b. Cost
c. Wrongful accusation
V. Increased Murder Rate
VI. Conclusion
Did you know, that according to a study at North Carolina State, a murder case cost 2.16 million
dollars more with a death penalty then with a sentence of life imprisonment? It 's true! It is
estimated that the death penalty cost the U.S. Judicial System an extra one billion dollars a year! It 's
not only expensive, it 's wrong. The worst part is Juveniles are being executed. This is wrong
because the human brain is not fully developed until the 20s. ... Show more content on
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From 1999–2003, thirty–five juveniles were sentenced to death. Also note that just seven states have
executed juvenile offenders since 1976. Since 2000, only three countries have executed juvenile
offenders. These include the Democratic Republic of Congo, Iran and Pakistan. This making the
U.S. the only country to still have it because all three other countries have either abolished it or are
in the process of abolishing it since 2000. The leading methods of execution are hanging, stoning,
beheading, shooting, electrocution, and lethal injection. Many countries retain hanging as the
standard mode of execution. This style mostly occurs in the Mid–East and in Asia. Only six
countries still stone criminals to death. Five countries use lethal injections; this is the most popular
method in the United States, accounting for 58 out of 59 executions in 2004. The practice of the

juvenile death penalty dates back to the 17th century, when a sixteen–year–old boy became the first
juvenile sentenced to death. More than three centuries later, the Supreme Court established the age
of sixteen as the minimum age for death sentences. In 1972, the Supreme Court banned the death
penalty. Five years later it was reinstated, but with certain conditions. Only to be deterred with
violent crime. Most offenders under the age of eighteen ore sent to juvenile courts. These are
separate from regular criminal courts,

Capital Disciplinement And Capital Punishment
Some say capital punishment is the largest amount of discipline. As indicated by 71% of the United
States there is no harsher discipline than death itself. 58 nations hone capital punishment. The
United States of America, is one of the 58. Starting at 2015 the United States will just utilize capital
punishment if indicted first–degree kill. Some trust that death penalty will prevent killers. I will be
contending that capital punishment does not stop lawbreakers and that the United States ought to
cancel this ihumane type of discipline.
Before I make my side of the contention, Here is some foundation data on the death penalty. The
death penalty was brought over from Britain, when the establishing fathers pronounced autonomy.
Europeans gave capital punishment for different violations. The primary recorded execution in
America happened in Jamestown, 1608. A man named George Kendall was executed for conspiracy.
In the prior provincial days, laws with respect to the death penalty differed relying upon the district
and the idea of the wrongdoing.
Amid the nineteen century, capital punishment changed drastically. Around this time capital
punishment began to lose prevalence. Expresses never again dedicated open executions. All
executions were done in private. Pennsylvania was the principal state to receive this pattern.
Inevitably a few states abrogated capital punishment all together. In current circumstances, fourteen
out of fifty expresses never again complete capital

International Convergence Of Capital Measurement And...
1. Introduction
The 2008 Global Financial Crisis (GFC) and its aftermath had critically damaged the world
economy with a drag in global economic growth. Indubitably, the imprudence in which banks
managed their risks and capital holdings were among reasons that caused the crisis. It raised the
need for industry reform, leading to G20's Basel III proposal in 2010 to strengthen the global capital
framework by imposing stricter rules regarding capital and liquidity requirements, as well as a focus
on transparency, consistency and quality. 2. Regulatory Framework
Table 1 highlights the main differences between Basel I, Basel II and Basel III.
Table 1 Basel 1, Basel II and Basel III Basel I Basel II Basel III
Framework One size fits all International Convergence of Capital Measurement and Capital
Standards Firm specific and risk based
Minimum Capital Requirements 8% Total Capital Adequacy Ratio (CAR)
4% Tier 1 8% Total CAR
4% Tier 1
4% Core Tier 1 10.5% Total CAR
6% Tier 1
4.5% Core Tier 1
Measure of Credit Risk Standardized Approach Standardized Approach
Internal Ratings Based (IRB) Approach Standardized Approach
Internal Ratings Based (IRB) Approach
Measure of Operational Risk N.A. Basic Indicator Approach (BIA)
Standardized Approach
Advanced Measurement Approach (AMA) Basic Indicator Approach (BIA)
Standardized Approach
Advanced Measurement Approach (AMA)
Measure of Market Risk N.A. Standardized Approach
Internal VaR

Social Capital By Robert Putnam
Social Capital : Robert Putnam
Professor name – Dr. Josephine Anthony
Ramesh Prakash Khade
M2015CF022
Social capital refers to the resources available in and through personal and business networks. Social
capital defines that social networks have value. Social capital also refers to collective value of all
"social networks" and the fact arise from the things doing for each other in networks. The term
Social Capital emphasizes not just feelings but, a wide variety of benefits which flow from trust,
reciprocity, information, and cooperation with social networks. Michael woolock states in his papers
that among the people working in the field, there has been a visible convergence towards something
like its definition he offers. Networks have the value for the people who are in them, and they have.
There are both public and private faces of social capital. Putnam in social capital largely focusing on
the external returns, the public returns to social capital, but Putnam think that is not at all
inconsistent with the idea that there are also private returns. Capital emphasize that social capital
whether physical capital was homogeneous to be susceptible to aggregate measurement. There is
debate going on human capital and social capital obviously there are many different forms of
physical capital for eg. An egg–beater and an aircraft carrier enter into the American national
accounts as little bits of physical capital, and yet they are not interchangeable.

Cultural Capital And Inequality
Cultural capital and field results in inequality for a number of reasons. Cultural capital has to do
with capital resources such as skills learned and specific knowledge pertaining to certain subjects. It
also has to do with skills and behaviors learned at home. Field has to do with a social institution
such as a school. These two things result in inequality because of the way children are brought up
and how involved they are in social institutions. When a child is involved in a multitude
extracurricular activities, they are more likely to succeed in school because they have a more stable
schedule and not as much free time so they are forced to learn time management. Often times
schools favor middle class cultural capital because middle class

Human Capital Theory
According to Csintalan and Badulescu (2015), human capital refers to a stock of skills, knowledge,
creativity, social and personality attributes, qualification of a worker (innate or acquired) that
contribute to its productivity and ability to produce economic value (p. 668). Human capital is an
impalpable quality that is not possessed by the establishment employing the workers, but rather
renting these competencies from the employees. These rented skills may be the most valuable assets
needed to support educators in an educational organization. For instances, education has the teacher
as employees, and some of the skills necessary in the classroom are patience, adaptability,
teamwork, communication, and leadership. The skills described ... Show more content on
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I believe and trust that my human capital framework can empower educators to build skills and
competencies needed to deliver exceptional teaching and learning in the classroom.
Costa, A., & Kallick, B. (2015). Building Teacher Capacity. Retrieved from
http://www.teachthought.com/pedagogy/the–complex–needs–and–characteristics–of–a–great–
teacher/
Csintalan, C., & Badulescu, A. (2015). Education and Human Capital as Engines for Economic
Growth. A Literature Review. Annals Of The University Of Oradea, Economic Science Series,
24(2), 665–673.
Ingersoll, R. M., & Smith, T. M. (2003). The wrong solution to the teacher shortage. Educational
Leadership, 60(8), 30–33.
Myung, J., Martinez, K., & Nordstrum, L. (2013). A Human Capital Framework for a Stronger
Teacher Workforce. Advancing Teaching––Improving Learning. White Paper. Carnegie Foundation
for the Advancement of Teaching, 1–43.
Schuler, R. S., & MacMillan, I. C. (1984). Gaining competitive advantage through human resource
management practices. Human Resource Management, 23(3),

The Regulatory Capital Is The Minimum Amount Of Capital
Q1
(a)
The regulatory capital is the minimum amount of capital that the financial regulator required the
banks or the financial institutions to hold (Elizalde & Repullo, n.d.). It is used to help to avoid to
risk and reduce the losses that we may have but can't forecast. ("Bank Regulatory Capital – Quick
Reference", 2016). The figure of the financial capital is directly set by the financial regulators. The
balance sheet capital is the equity part that we recorded on the balance sheet. The regulatory capital
is like a standard that all the financial institutions have to achieve. The financial institutions must
maintain their capital amount over the minimum amount that the financial regulator required
(Elizalde & Repullo, n.d.). However, the ... Show more content on Helpwriting.net ...
In 1988, the Basel I was published by the BCBS. It is a new method to the measure the capital and
also it focused on the credit risk and appropriate risk–weighting of assets (International convergence
of capital measurement and capital standards, 1988). Under the concept of the risk–weighted asset,
the regulators can include the riskiness of the bank's activities into the calculations of the capital
adequacy (Lange, Saunders & Millon Cornett, 2015).
"The core requirement of the Basel I were 2 capital ratios: a minimum 4% for the tier 1 capital ratio
and the Total capital ratio for 8% (Lange, Saunders & Millon Cornett, 2015)." The tier 1 capital
Ratio can be calculated by the (common equity– goodwill) / Risk–weighted assets (RWA) and the
Total capital ratio can be calculated by Total regulatory capital / Total risk adjusted assets.
Basel II
In Basel II, it improved the measurement of the risk–weighted assets. It includes the market risk, the
operational issues and the risks caused by the emergencies like the terrorisms or natural disasters
(Lange, Saunders & Millon Cornett, 2015). The Basel II is more detailed than the Basel I. In the
Basel II, it creates a new frame, the Three–pillar frame. The pillar 1 is the Minimum Capital
Requirements. It is to maintain the regulatory capital of the FI by calculating the 3 main risks, the
credit risk, market

Capital Punishment
Capital Punishment
Murder, a common occurrence in American society, is thought of as a horrible, reprehensible
atrocity. Why then, is it thought of differently when the state government arranges and executes a
human being, the very definition of premeditated murder? Capital punishment has been reviewed
and studied for many years, exposing several inequities and weaknesses, showing the need for the
death penalty to be abolished.
Upon examination, one finds capital punishment to be economically weak and deficient. A common
misconception of the death penalty is that the cost to execute a convicted criminal is cheaper than to
place a convict in prison for life without parole. Due to the United States judicial system, the
process of appeals, ... Show more content on Helpwriting.net ...
Whatever they need, they can get (Cummings).
In addition to being racially prejudiced, capital punishment places innocent lives at risk. Recently in
Chicago, a black man was released from death row after nearly sixteen years in prison. This man,
Anthony Porter, came within two days of receiving a lethal injection, until the courts finally agreed
hearing on his mental capacity. Porter was very lucky to receive an excellent attorney who managed
to prove that Porter was innocent and led the police to a prisoner in Milwaukee who confessed
(Kile). This shows the importance of the appeal process found in the courts, which serve to protect
the lives of innocent citizens of the United States of America. A writer for The Christian Century
writes, "Porter's case brings to light the very real danger that overzealous prosecutors, sloppy
legal work and poor legal defense teams will send people to their deaths for crimes they didn't
commit," (Kile). If Porter had an equipped defense attorney from the start, he would never
have been to prison and nearly killed. Ryan Cummings of The Economist observed that more crimes
are punishable by execution, more states have adopted the death penalty and the appeals process has
been shortened. The overall expansion of capital punishment endangers innocent lives.
Cumulatively, there is now less time and fewer tools to save innocent men and women

Capital Punishment Essay: Retain Capital Punishment?
Capital Punishment – Retain or Not?
This essay tangles with the question of whether or not we should retain the death penalty within the
American code of penal law.
There is a feeling of frustration and horror that we experience at the senseless and brutal crimes that
too frequently disrupt the harmony of society. There is pain which accompanies the heartfelt
sympathy that we extend to the victims' families who, in their time of suffering, are in need of the
support and compassion of the whole community. Nothing will ever bring their loved ones back.
Quite clearly, such violence is to be denounced vehemently.
Appropriate measures should be employed to safeguard our community and reduce the incidence of
... Show more content on Helpwriting.net ...
Also Steven Brian Pennell was executed after a highly–publicized series of crimes(Steven). We
believe that this event in the state of Delaware requires that we as a community once again re–
evaluate the use of the death penalty in the light of our conviction that life is a gift of God.
Though the state has the right to inflict the death penalty, we question whether the state should
exercise the use of that right. In a world filled with violence, one more act of violence, we believe,
only serves to make society less sensitive to the intrinsic value of human life. Usually, punishment is
meted out to criminals as an example to deter others from acting in a like manner; or to allow an
opportunity for the convicted individual to reform; or for the sake of retribution. However, it seems
that the deterrent value of capital punishment is, at the most, doubtful; that the plea for retribution,
when the death penalty is involved, reflects a more primitive form of justice than we in the United
States would like to claim as our own. Indeed, the taking of the life of another person hardly restores
the imbalance created by the original homicide. Rather, it promotes further violence.
The Christian tradition has always upheld the sanctity and dignity of the human being, made in the
very image of God (Genesis I). Each person receives life as a gift from God, a gift to be nurtured, a
gift over which we have stewardship but not absolute dominion. The right to

Role of Human Capital in Economic Development
CHAPTER ONE INTRODUCTION
a) BACKGROUND
Kenya is one of the less Developed countries that are endowed with relatively good levels of
resources and labor. However, there are still a lot to be done to tap those resources into viable
productivity and industrialization levels. One way of achieving this is by maximizing the use of both
physical and human capital. In or case we shall consider human capital. Human capital, according to
Adam Smith refers to the acquired and useful abilities of all the inhabitants or members of the
society. The acquisition of such talents by the maintenance of the acquirer, during his education,
study or apprenticeship, always costs a real expense, which is a capital fixed and realized, as it were
in his ... Show more content on Helpwriting.net ...
This paper therefore seeks to determine if, indeed, human capital has been the factor that has caused
a rise in economic growth and development in east Africa. c) RESEARCH QUESTIONS
 What is the role of human capital in economic development in east African countries?
 Is healthy human capital and other non economic inputs are part of the determinants of economic
growth in east African countries?
d) OBJECTIVES OF THE STUDY
 To find out the role of human capital in economic development in east African countries.
 To determine whether healthy human capital and other non economic inputs are part of the
determinants of economic growth in east African countries.
e) SIGNIFICANCE OF THE STUDY
This study is seeking to establish the relationship between human capital and economic growth and
development in east Africa. By so doing, we will be able to know with certainty whether human
capital is actually one of the reasons for economic growth in east Africa, in which case the findings
will be used to establish the right proportion of human capital needed to mix with other economic
inputs so as to facilitate sustainable economic development in the region. It also gives an indication
of the possible way to rate human capital against other

Human Capital
Education and wellbeing are fundamental targets of improvement; they are imperative closures in
themselves. Wellbeing is key to prosperity, and education is crucial for the delightful and
compensating life; both are central to the more immense thought of extending human limits that lie
at the heart of the importance of improvement.Not one person has accomplished sustained economic
improvement without generous interest in human capital. The aspect and importance of human
capital in moving the tread of economic growth can't be embellish. The advancement of human
capital has been perceived by financial analysts to be a key necessity for a nation's financial and
political change. Therefore Human capital alludes to the information, ability sets ... Show more
content on Helpwriting.net ...
As I would like to think, I trust that; As more individuals are utilized, the measure of capital
expands, training levels increment, the nature of capital changes, or the innovation builds, the
profitable limit of the economy increments. In this manner, the economy can build its yield giving
customers more dispensable cash flow, advancing an expansion in utilization spending, and giving
assets to business to use for further venture and government to use to give open goods and
services.Expanded work effort interest builds yield. Extended, enhanced education makes more
beneficial laborers. Business and government spending on innovative work improve our capacities
to create and permit every specialist to wind up more beneficial,

Venture Capital
Venture capital
Venture capital (also known as VC or Venture) is a type of private equity capital typically provided
to early–stage, high–potential, and growth companies in the interest of generating a return through
an eventual realization event such as an IPO or trade sale of the company. Venture capital
investments are generally made as cash in exchange for shares in the invested company.
Venture capital typically comes from institutional investors and high net worth individuals and is
pooled together by dedicated investment firms. A venture capitalist (also known as a VC) is a person
or investment firm that makes venture investments, and these venture capitalists are expected to
bring managerial and technical expertise as well as ... Show more content on Helpwriting.net ...
By far Whitney 's most famous investment was in Florida Foods Corporation. The company
developed an innovative method for delivering nutrition to American soldiers, which later came to
be known as Minute Maid orange juice and was sold to The Coca–Cola Company in 1960. J.H.
Whitney & Company continues to make investments in leveraged buyout transactions and raised
$750 million for its sixth institutional private equity fund in 2005
Early venture capital and the growth of Silicon Valley
One of the first steps toward a professionally–managed venture capital industry was the passage of
the Small Business Investment Act of 1958. The 1958 Act officially allowed the U.S. Small
Business Administration (SBA) to license private "Small Business Investment Companies" (SBICs)
to help the financing and management of the small entrepreneurial businesses in the United States.
During the 1960s and 1970s, venture capital firms focused their investment activity primarily on
starting and expanding companies. More often than not, these companies were exploiting
breakthroughs in electronic, medical or data–processing technology. As a result, venture capital
came to be almost synonymous with technology finance.
It is commonly noted that the first venture–backed startup is Fairchild Semiconductor (which
produced the first commercially practical integrated circuit), funded in 1959 by what would later
become Venrock Associates. Venrock was founded in 1969 by Laurance S.

Capital Budgeting
geting1.0 INTRODUCTION Capital budgeting plays an important role in a firm's financial
management, the selection of a project is of great importance because it required a very large capital
expenditure which will have a significant impact on the financial performance of the firm. Therefore
a mistake in capital budgeting process by a firm will cost them a long period of time. Capital
budgeting can be defined or seen as a designed process which involves management of available
resources to select long time investments that will generate high return on the investment of those
resources, Brealey, R. A et al (2006). Companies are into businesses with the main aim of making
profit, therefore, it is vital for companies to know how to evaluate ... Show more content on
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International trade involves transactions between two countries and this can only be done with the
use of exchange rate, for example an exchange rate of 3.650 Malaysia Ringgits to United State
Dollar signifies that 3.650

Capital Punishment And Capital Involvement
Capital punishment is an individual punishment to death for committing a crime. The history of
capital punishment fluctuates worldwide, between different governments and beliefs. The current
issue of capital punishment is taking lives without having a reliable reason to take them to the death
penalty. One large and main issue is that capital punishment breaches, or breaks two essential human
rights, which are the rights to life, and rights to living free of torture. This is a huge issue because an
individual should not be able to surpass any conditions when the operations of the executions go
against human rights. Another opposition of capital punishment is that many countries are sided
with the penalties, however, the citizens of the country may think differently dependant on their
religions and beliefs. The opposition between the government and the population in the country is
another large issue because the diverse opinion only makes matters worse. Though many countries
remain to argue that the punishments are beneficial, terminating the legal penalty would save
thousands of lives. Discontinuing the penalties would benefit the whole world by cutting the large
amount of taxes just for individual deaths, and the new adjustment would save lives from false
reasons, and misunderstandings.
UN Involvement: The main participant into capital punishment is the OHCHR or the Office of the
High Commissioner for Human Rights. The committee is helping with the global issue by having

Social Capital And Cultural Capital
After cultural capital and cultural arbitrary, then, comes the third capital, which Bourdieu's theory
terms habitus. Habitus is a term, which is similar to cultural capital because they are transmitted
from home: "Like cultural capital, habitus is transmitted within the home" (Sullivan 149). However,
there is a dissimilarity concerning cultural capital and habitus: "... whereas cultural capital consists
of the possession of legitimate knowledge, habitus is a set of attitudes and values, and the dominant
habitus is a set of attitudes and values held by the dominant class" (Sullivan 149). Also, part of the
habitus is the positive attitude towards education, as Sullivan mentions "A major component of the
dominant habitus is a positive attitude ... Show more content on Helpwriting.net ...
Santos tributes the adolescent's weathered physical attributes to the complete abandonment of her
father, which is reflected in the comment of Santos on the action of her father: "Hace mal tu padre
en no ocuparse de ti como mereces...." (Gallegos 115). This uncaring of self–appearance by
Marisela implies that she does not have the same educational level and understanding to that of
Santos and, therefore, her understanding of what appearance implies, is unclear to her; it is unclear
to her because she is not educated and has a lack of understanding, which to Bourdieu's explains that
cultural competence is needed to understanding the meaning of the self–appearance code: "a work
of art has meaning and interest only for someone who possesses the cultural competence, that is, the
code, into which it is encoded" (1665). Also, the conversations that Santos has with her about her
appearance has no meaning to her because: "a beholder who lacks the specific code feels lost in a
chaos of sounds and rhythms, colors, and lines, without rhyme or reason" (Bourdieu 1665).
However, this will all change as Santos begins to convey his habitus unto her.
The ultimate objective of Santos is the modernization

Capital Punishment
Criminal law is imposed by almost every nation in the world to reduce crime rate and maintain law
and order of the society. An individual who found guilty of a crime will have to face corresponding
punishments. Among all penalties, capital punishment is considered to be the most severe and
cruelest one which takes away criminal's most valuable right in the world, that is, right to live. It is a
heated debate for centuries whether capital punishment should be completely abolished world
widely. The world seems to have mixed opinion regarding this issue. According to Amnesty
International (2010), currently, 97 countries in the world have already abolished capital punishment
while only 58 nations still actively adopt death penalty. ... Show more content on Helpwriting.net ...
Unfortunately, this kind of misjudgment can never be reversed in pair with capital punishment. Even
if the innocent is proven to be not guilty in the future, no one is able to return his or her life back to
the body. No matter what compensation the nation could offer afterwards, it will never result in
fairness and equality. Therefore, capital punishment should be abolished to prevent those innocent
people from horrible unfairness.
Last but not least, from a sociologic perspective, capital punishment does not work as intended, to
deter crime rate, rather, it might brutalize individuals, at the same time does nothing good to the
victim's family other than brutal vengeance. The origin of death penalty is served as a vehicle to put
a warning for those potential future criminals that such kind of behavior will lead to death.
However, so far, no clear evidence can be seen that capital punishment, as a mechanism of deterrent,
actually cut down the local crime rate. Ironically, a reversal trend was found by Death Penalty
Information Center (2010) in the USA that the death penalty leads to an increase in local murder
rate. To die might be too easy for the mindless murderers. Also, for the relatives or friends of
criminals put into death through capital punishment, they are more likely to be

Human Capital And Non Physical Capital
It is well known that unmeasured cross–country differences in human capital reveal as cross–
country differences in TFP, but it is still hotly debated for how much human capital can account.
Mankiw, Romer and Weil (1992) emphasize the importance of investment in human capital and
claim that the Solow growth model augmented to involve human capital can account for most of the
variation in differences in output per capita. On the other hand, several recent works provide
different conclusion, for example, Manuelli and Seshadri (2005) argue that most cross countries
differences in output per worker are not affected by differences in human capital (or physical
capital) but might be affected by differences in residual, total factor productivity (TFP).
This paper tends to summaries the main arguments and approaches of Mankiw, Rome and Weil
(1992, MRW hereafter) and Manuelli and Seshadri (2005, MS hereafter), also compares and contrast
their main findings. Finally, the paper will give some brief comments and criticisms on these two
papers.
Motivation and intuition of MRW
It is well known that the Solow Model is the first neoclassical growth model, while recent findings
and corollaries are not entirely preferable due to some uneasiness. For example, Solow Model can
qualitatively but not quantitively analyze the impact on growth path of two exogenous variables:
saving rate and population growth. In addition to this, Solow Model predicts absolute convergence
across countries with

Human Capital Development
INTRODUCTION
In this individual assignment I have chosen "HUMAN CAPITAL DEVELOPMENT" as my topic.
In this assignment I discussed human capital development as it is related to Human Resource
Management.
According to Mayo(2000) focuses on a definition of human capital and defines it as: " a capability,
knowledge, skill, experience, and networking with the ability to achieve results and the potential for
growth; individual motivation in the form of aspirations, ambition, drives, work motivations and
productivity; work group effectiveness in the form of supportiveness, mutual respect sharing and
value; leadership in the form of clarity of vision and ability to communicate that vision;
organizational climate in the form of culture particularly the freedom to innovate, openness,
flexibility and respect for the individual." in (Thomes N. Garavan, Michael Morley, Patrick
Gunnigle, Eammon Collins 2001 p.50).Relatively in an easier way to understand "human capital is
the collective value of the capabilities, knowledge, skills, life experiences, and motivation of an
organizational workforce." (Ghee Soon Lim, Rebert L Mathis and John H. Jackson 2009 p.12)
In this assignment we have three issues which are definition of human capital, human capital is an
asset and the importance of human capital development. The reason I want to discuss about
definition human capital because that have many meanings for human capital. How about why I
discuss about human capital is an asset? We must know

Capital Punishment
Capital Punishment and the Death Penalty Capital punishment exist in today's society as citizens of
the United States should we have the right to take an individual life. As illustrated throughout
numerous of studies the death penalty is an unfair process seven out of ten deaths handed down by
the state courts from 1973 to 1995 were overturned when appeal and the seven percent were later
found to be innocent. Such as the Dobie Williams case which took place July 8, 1984. Dobie
Williams an African American male with an IQ of 65(mentally retarded) who was convicted of
killing a white lady by the name of Sonja Knippers. Sonja Knippers was stabbed several times while
using the restroom in her Louisiana home. Her husband ... Show more content on Helpwriting.net ...
According to the Death Penalty Center, in 1973 38 Black people were sentence for death row. Other
races were charge with the same crime but Black people were issued death row. Our courts system
demonstrates factors that are played in history and today's society. Black life is not valued in the
United States. The Stanford Law Review published a study that found similar patterns of racial
disparity, based on the race of the victim, in Arkansas, Florida,Georgia, Illinois, Mississippi, North
Carolina, Oklahoma and Virginia (see
For example, in Arkansas findings showed that defendants in a case involving a white victim are
three–and–a–half times more likely to be sentenced to death; in Illinois, four times; in North
Carolina, 4.4 times, and in Mississippi five times more likely to be sentenced to death than
defendants convicted of murdering blacks.
The Florida Law Review published a study that examined all homicides committed and death
sentences rendered in Florida between 1976 and 1987.The study found that, in that state, the odds of
receiving a death sentence are 3.4 times higher for defendants convicted of killing whites than for
those convicted of killing blacks. Additional facts linking race with the death penalty: since the
resumption of executions in the early 1980 's, 40 percent of the people executed have been black.
In the Oomulgee Judicial Circuit, which encompasses eight counties in Georgia, the district attorney
sought the death penalty in 28

Economic Capital

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Economic Capital