2008 Economic Crisis

Best answer I found taken from the link: http://griper-of-usa.blogspot.com/2007/12/socialism-vs-free-enterprise.html "Free Enterprise is an economic system of the people, by the people and for the people. It is a system where people make the decisions for their lives. It is a system where people must accept responsibility for their own decisions. And in doing so a person reaps the rewards of their own good decisions but also they must accept the consequences of any bad decisions.

Socialism is an economic system of the government, by the government and for the government. It is a system imposed upon a society by government dictates. It is a system with the intent and purpose of spreading responsibility upon society as a whole with the few making decisions for the whole. It is a system where the few get credit for good decisions but the whole must accept the consequences of the bad decisions.

The difference between free enterprise and socialism are many but there is one significant difference. Free enterprise is an economic system that evolves naturally in a society. It is an 'you have something I want and I have something you want, let's trade' system. And each party equally profits from that trade.

Socialism is a government imposed form of economic system. It is a government takes and government gives as it sees ability and need. Affordability is the foundation of this form of economic system. Since affordability is the determinant it imposes a forced inequality upon a society.

Free enterprise feeds the competitive spirit of man. In order to survive it only needs to recognize the opportunities of life and an attitude of 'can do'. It emphasizes the individual's role in society. And the appitite of the spirit is never sated

Socialism feeds upon the lack of security that man feels. In order to be imposed it must create a perception of the lack of opportunities and a 'can't do' attitude. Socialism relies on persuading certain groups that they are the exploited of another group. Socialism advocates victimization.

Poverty in the Philippines is a huge problem with many different causes. The Philippine Aid Society was founded to fight poverty in the Philippines. Its mission statement is "to provide critical goods and services to Filipinos in desperate need and where possible equip them with the means of self sustenance, in the name of our Lord Jesus Christ."

Read more: Reaction_paper_about_poverty_in_the_Philippines

Cultural globalization is the rapid movement of ideas, attitudes, and values across national borders.

History of Globalization

The term "globalization" came to be widely used in the 1980s, but as early as the 1960s, the Canadian literary critic Marshall McLuhan popularized the term "global village" to describe the effect that the ability to connect and exchange ideas instantaneously would bring to the world. This sharing of ideas generally leads to greater interconnectedness and interaction between peoples of diverse cultures and ways of life, which can have both positive and negative results. Consequently, as technology has accelerated the process, it has sparked considerable controversy. Historical Perspective Though often thought of as a modern concept, the processes of cultural globalization can be traced back through most of history. Even during times when most societies tended to exist in relative isolation, international trade and exploration often led to transformative exchanges of ideas. For example, the expeditions of early European explorers resulted in interaction with Asia, Africa, and the Americas. Among many other results of this was the introduction of the potato into Europe from South America, which had profound effects on the European diet. Likewise, the British Empire's colonization of India produced many cultural impacts on that nation which can still be seen today. It was the rapid technological developments of the 20th century, however, that accelerated the process considerably, and which really caused people to begin contemplating globalization as a broad concept. Decade by decade, telephones, radio, jet air travel, and television media spread information around the world with increasing efficiency. By the end of the century, the Internet had made it possible for ordinary people on opposite sides of the Earth to connect instantly and cheaply, whether for the purpose of conducting business or for personal communication. A Smaller World The ultimate consequence of cultural globalization is a world that seems smaller, and in which interactions take place more rapidly. While information once took weeks, or even months, to travel long distances, communications are now nearly instantaneous. In turn, this means that decisions tend to be made much more quickly. For example, within minutes of a major political upheaval in one country, financial traders around the world might react by selling stocks in large volumes, resulting in a financial panic even before events can be fully analyzed. In earlier times, before globalization reached its current level, such results would have tended to be more limited in scope, and would have taken place more slowly. Cultural Similarities Cultural globalization is perhaps best exemplified by pop entertainment culture. Young people in Moscow, for example, dance in ways that are similar to those in Rekjavik and Tokyo. Japanese animé is watched in Chicago, and Mexican soap operas are enjoyed by viewers in Manila. The newest release of a musical group can be spread worldwide quickly through a variety of video sharing websites; celebrity personalities achieve global pop icon status through the same means. It is easier than ever before for people from divergent cultures to find common interests.

Pros of Globalization

Those in favor of the concept of a "global village" often point to the benefits that the exchange of knowledge and information can bring. Some say that this new widespread cultural awareness could help reduce bigotry and discrimination, and might even smooth international relations as a whole. As people of diverse backgrounds communicate more freely and enjoy many of the same fads and tends, they might discover that they are not really so different as they initially assumed. Foremost among its proponents is big business, since the more culture becomes globalized, the easier it is for businesses to sell their products in other countries. Certain goods, such as soft drinks or portable electronics, are sold the world over. Many brand names are just as coveted in Madras as in New York. Economic globalization goes together with cultural globalization, and it is sometimes pointed out that cultural globalization is more commercial-driven than country-driven. Negative Aspects

Cons of Globalization

The critics of cultural globalization often argue against its destructive effects on national identities. They warn that unique cultural entities may vanish, and that languages spoken by small populations could be at an increased risk of extinction. The specific values, traditions, and history - the identity - of a culture could disappear. They fear the threat of dominant, industrialized cultures overtaking and supplanting indigenous ones, silencing new and different ideas. Critics also warn that vast multinational companies could make secret deals without popular input or concern for the best interests of local populations.

• accounts dealing with goods, services and income
• accounts recording gifts or unilateral transfers
• accounts dealing with financial claims

i think so that public limited companies are for the use of common peoples, for public.

but

the cooperative organizations are to help out these public limited companies to solve their problem.