U.S. and Swedish Trends in Tax Reform Tax reform has become a major governmental policy issue in the United States as well as in the rest of the world. Countries are attempting to balance both economic efficiency and provide equity in taxation. Governments are looking to rewrite tax codes to minimize their impact on economic growth. Specifically, governments throughout the world are attempting to preserve incentives built into taxation to maximize economic efficiency. At the same time, these governments are trying to cope with the growth in social welfare programs throughout the past three decades.
However, “China’s new leaders turned their backs on China’s traditional household-based economy, and set out to develop a massive socialist industrial complex though direct governments control” (Wei & Rowley, 2009).China shaped its economy from socialism for 30 years until it became associated with major shortcomings. As a result, China launched economic reform which transformed China’s economy from a “Soviet-style centrally planned economy to a more market-oriented economy, but still within a rigid political framework of Communist Party control “(Wei & Rowley, 2009). China experienced large amounts of economic growth after the beginning of the reform in 1978, and has progressively continued to expanded overti... ... middle of paper ... ...k: Charles Scribner's Sons. Retrieved from http://0-go.galegroup.com.library.dcccd.edu/ps/i.do?id=GALE%7CCX3403700565&v=2.1&u=txshracd2500&it=r&p=GVRL&sw=w Rothermund, D. (2002). India—Education System.
In the late nineteenth century and early twentieth century, economics, business, and industry began to change in America and all around the world. Many would credit the Industrial Revolution as a whole to describe the changes that were made in so many different industries in America; however, these changes can be largely credited to only a few different individuals. Many different people made impacts on American economics and society, although much of this change can be credited to three individuals who stood out among the many. John Pierpont (J.P.) Morgan can be credited with financially supporting many different industries, as he was the top banker of his time. Thomas Edison is given credit for many electrical inventions that changed the way people live their everyday lives.
Through the production of raw materials from national corporations such as Carnegie Steel and Standard Oil, new industries and advancements in technology revolutionized American life throughout the last quarter of the nineteenth century. Because these large, tightly managed corporations relied on standardizing business practices to ensure the output of production, the pace and standards of workers lives changed as the U.S. government integrated the corporation into the U.S. economy. The 1886 Santa Clara decision increased the profitability of corporations as they earned the legal status of citizens. Most corporations viewed labor as expendable and commonly exploited labor to produce more goods at a lower cost. As Carnegie Steel hired skilled technicians to develop new technologies to lower labor costs, Fredrick W. Taylor develops the management practice of Scientific Management, which influenced corporate managers to place additional pressure on labors to work faster for longer in unsafe environments such as mines and railroads.
The main language used is Swedish. Sweden is pretty much a free country with different religions being practiced. The largest religion is Evangelical Lutheran 87% followed by other religions such as Roman Catholic, Orthodox, Baptist, Muslim, Jewish and Buddhist which amount to 13%. Sweden is a developed country and seventh richest country in the world based on the GDP per capita which was $40,900 in 2013. The standard of living is very high where the household consumption amount to 48.6% of total GDP.
The rise of the corporate state has been happening since the founding of this nation. The federal government has been involved in helping out big business since the times of Thomas Jefferson and Andrew Jackson and it continues through today. From using federal troops to break labor strikes in the mid-1800s to bailing out failing Savings & Loan programs in the 1980’s, the federal government has been the perfect “big brother” to big business and its owners. This has resulted in corporations and their owners rising to an even higher status, tax free, and interest free lifestyle. With the beginning of industrialization in the United States, business owners here have been looking to the federal government for a helping hand not only to bail them out of trouble but also just to boost their profits.
Reforms made through legislation in the last decade have helped alleviate the pressures on previously state held banks and lead the industry further through privatization. According to the latest findings by the IMF, Hungary’s banking industry is nearly through the transitional process and well on its way to tightening the gap between itself and its Western European counterparts. In 1987, Hungary undertook its first major reform, separating the Hungarian National Bank and its commercial banking sector. Clearly, the goal was too proceed toward privatization. At the time, the state owned banks were flooded with a large volume of non-performing loans.
Taylorism and Fordism both help capitalists take control over the worker and a means of increasing production. Taylorism and Fordism lead to the rise of capitalism and the growth of the industrial unionism. Ford used Taylor’s scientific management principles and come up with the mass production and assembly line. This benefitted the motor vehicle industry highly. The effects of Taylorism and Fordism in the industrial workplace were strong and between the period of 1919-1929 the output of industries in the U.S doubled as the number of workers decreased.
In Britain people believed that through industrial production they could create untold wealth - and the government believed that it was its responsibility to make this happen. In conclusion, the Industrial Revolution started in England then spread to the European nations later on in the centuries to come. According to BBC, “Until the early 18th century, most people lived off the land as they had done for countless generation-an agricultural existence, defined by the harvests and the seasons, and ruled by a small political and social elite”. It significantly changed the daily lives of everyone involved and up until today. All of these factors such as the natural resources, populations, inventions and transport systems made England the leader in the Industrial Revolution.
The First Industrial Revolution changed agriculture customs and the Second Industrial Revolution caused changes in production techniques, but both helped the United States industrialize and become the most successful country in the world. During the First Industrialization Revolution, there were extreme changes in agriculture, manufacturing, and transportation. Industrialization began in Britain because of the surplus of raw materials, making it one of the most dominant countries in machinery. Before the Civil War, most people were not wage owners because they either worked on agriculture or in small single-owner crafts. The Industrial Revolution began with the invention of the steam engine in Britain in 1793 by James Watt, which was used to minerals from mines.