For many ages to come the old Adam will be so strong in us that everybody will need to do some work if he is to be contented. We shall do more things for ourselves than is usual with the rich to-day, only too glad to have small duties and tasks and routines. But beyond this, we shall endeavour to spread the bread thin on the butter- to make what work there is still to be done to be as widely shared as possible.
Three-hour shifts or a fifteen-hour week may put off the problem for a great while. For three hours a day is quite enough to satisfy the old Adam in most of us!In his essay on “” from 1930, economist John Maynard Keynes famously predicted that in the future, people would only work fifteen hours a week. In hundred years, he wrote, the standard of life in progressive countries would be four to eight times higher than in 1930. In the extract above, he wrote that for ‘the old Adam’ in 1930, a fifteen-hour working week would be necessary to fairly divide the available work across the population.With 14 years to go, there’s still a lot that needs to be changed!Considering the gap between current working hours of 35 (officially in France), 40 hours for most and 50-60 or more for workaholics, maybe we should strive to reduce our working hours in smaller steps at first?According to OECD data, the average working hours per year stands at 1770 hours per year across the OECD countries.
These are not equally divided through the year (think of Easter, summer, and Christmas breaks): the weekly average is probably around 37 hours. These figures are actually worked hours, per worker, so including part-time workers and seasonal labour.Against prejudices, the number of hours stands at 42 in Greece; in Germany and the Netherlands, the average is around 30.
In the latter two, these figures are skewed by the high proportion of part-time workers, but also can be seen as a sign of high labour productivity! And surprisingly, it’s not Americans or Japanese that put in most hours. Instead, the workaholics of the OECD live in Mexico.
The New Economic Foundation Presentation 2017
At 2238 hours per year and some 45 per year, the average person’s working week is some 50% longer than in Germany and the Netherlands. Working hours in euro area and selected third countries (click to enlarge) Source: OECDStep 1: down to 30 by 2020What if we could achieve this level of 30 hours without these tricks? In their history, the Green and Socialist Parties in Sweden have aimed to reduce working hours to 30 per week.
Scandinavian countries have a reputation for a healthy work-life balance and indeed are towards the left of the curve. Swedes work a bit more than the French with their 35-hour working week policy.Last year, a retirement home in Gothenburg started to with a 30-hour working week. Nurses tell researchers they feel they have more energy. The experiment is funded with a subsidy of around 500,000 euros to compensate for the higher number of staff needed to care for the residents.But other examples cited in another, such as creative and service industries, suggest that not so much more staff is needed. People still want to do a good job, and may achieve similar levels of productivity in six hours as in eight, says an app developer. With some testing and refinement, wouldn’t we able to get this rolled out by 2020?Step 2: let’s get down to 21 by 2025From the perspective of the new economics foundation, a think-tank on “economics as if people and the planet mattered”, getting down to 30 is good, but only halfway there. In a and a TEDx talk, researcher Anna Coote argued for a 21-hour working week ambition (she herself, a recovering workaholic, is at 30 hours).She argues that shorter working weeks would have a range of social and environmental advantages.
For instance, it would distribute work more evenly across society, and hence reduce unemployment, and increase our ecological footprint. Now, we are getting close to Keynes’ expectations 85 years back. Doesn’t it sound utopian to work only four/five hours per day, four or five days per week? Or is it really feasible to do this within ten years, coinciding with decarbonisation of the economy and lower energy use to meet the targets of the COP21 climate change agreement?Step 3: down to 15 by 2030 – or why not limit us to 4 hours?But for the American dream, 21 hours is not good enough, and we might be able to do better than Keynes’ 15 hours. American dream salesman and self-help author Tim Ferriss wrote a well-known book entitled the ‘‘.
In the book, he explains that for most entrepreneurs, a small amount of clients brings in most of the revenue. As such, by focusing on these, outsourcing all support functions, and living in low-cost countries, Ferriss claims it is possible to only work four hours a week. Whether you take this as a serious career option or too-good-to-be-true, it’s not a model that could apply to society as a whole.If everybody were to work only four hours, our economic system would come to a stop. But Keynes 15 hours? If we really change our economy’s paradigm, maybe we can get it done by 2030. I wrote this article for (“City Life”), an Amsterdam-based talk show about urban issues.
The next session on 27 January will be dedicated to the Happy City, and the editor of Stadsleven asked me to explain what our cities can learn from Gross National Happiness (GNH) in Bhutan. The original Dutch version can be found.What is the objective of the state? Philosophers and leaders have been reflecting about this question for thousands of years. Most states focus their policies on economic development. The assumption is that when a country becomes richer, its citizens will be better off.
But is that the case? Research shows that the Western world is a lot richer than fifty years ago. At the same time, we are hardly any happier than in the 1950s.For Bhutan, a small Buddhist kingdom in the Himalayas, these conclusions do not come as a surprise. Already in 1972, Bhutan based its policy on Gross National Happiness (GNH).
Takes a broader approach than economic interests, and also helps the state to consider the influence of factors like health, mental well-being and community life. Bhutan’s king observed that these factors largely influence the happiness and quality of life of the Bhutanese, and thus put them as the central objective of public policy. The video explains how it works:Bhutan’s core philosophy thus is different, and we hardly realise how revolutionary that is. The economy and Gross Domestic Product (GDP) are central topics in the public debate in the Netherlands. We’re confronted with growth forecasts on a daily basis. Many people in the Netherlands will know that the target for the budget deficit is 3%.
But will they have an idea about national happiness level? Probably not. And consider that the (SCP) recently concluded that quality of life decreased between 2010 and 2012, for the first time in thirty years!After Bhutan, the and the, to name some, GNH could also inspire the Netherlands (and Amsterdam). Of course there is no way that our political leaders should tell you and me how to be happy. Dutch Prime Minister Mark Rutte is right in saying that the state is not a happiness machine.
The New Economic Foundation Presentation Examples
But the government does have the responsibility for our quality of life. But how, and what does make us happy?The British new economics foundation has researched. These are factors that affect the happiness and well-being of an individual: connect, be active, take notice, keep learning and give. Cities can integrate some elements. Public spaces can be designed to facilitate that people meet each other (connect) or are invited to do sports ( be active). Through education and community activities, city councils can promote skills and values that help us to appreciate the moment ( take notice), be curious ( keep learning) and share with others (give).The lessons of Bhutan deserve to be followed. Isn’t there a more noble cause than a happy city?
New economic policy.1.NEW ECONOMIC POLICY(1971-1990)NATIONAL DEVELOPMENT PLAN(1991-2000)MUHAMMAD ASYRAF HASSAN.INTRODUCTIONSince independence, thegovernment of Malaysia hasformulated variousdevelopment plans.DEVELOPMENT PLAN INMALAYSIA.NEW ECONOMIC POLICY. The NEP was launched by the Malaysiangovernment in 1971 under the PrimeMinister Tun Abdul Razak.
ADVERTISEMENTS:The fundamental feature of the new economic policy is that it provides freedom to the entrepreneurs to establish any industry/trade/ business venture.The entrepreneurs are not required to get prior approval for any new venture. What they need is that they have to fulfill certain conditions to get into a line of one’s choice.The procedure involving a case by case examination of the proposals for new ventures has been wiped off.
Apart from this the entrepreneurs no longer need licenses to come into business. The capital markets have also been freed and opened to the private enterprises.A new company can now be floated with new issue of shares, debentures etc. In case the entrepreneurs require imported equipment, they are no longer required to approach the central authority for foreign exchange. The area of liberalization is (i) licensing business, (it) Foreign Investment (iii) Foreign Technology (iv) Estab足lishment, Merger, Amalgamation and taken over, and (v) Simple Exit policies. Extension of Privatization:Another feature of the new economic policy is the extension in the scope of privatization.
Now, the majority of economic activities will be conducted by the private sector. In the wave of privatization, out of 17 industries reserved for public sector, 11 industries have been given to the private sector.Moreover, Govt has also privatized the ownership of some public sector undertakings by the sale of capital of some selected enterprises to the private sector.The field of privatization has further been extended by offering greater opportunities of investment to the foreign private investors.
Economic Policy seeks to accord priority role to the private sector. Tendency to expand private sector is evident from the following facts. ADVERTISEMENTS:(i) Number of industries reserved for public sector has been reduced from 17 to 6. Private sector can now set up its units in the field of iron and steel, energy, air transport, etc.(ii) Till the end of 6th Plan, share of public sector in total investment continued to be greater than that of the private sector. It is intended to be reduced to 45% in the 8th Plan.
Thus 8th Plan aims at raising the share of private sector investment to 55% of the total.(iii) Shares of public enterprises are to be increasingly sold to the workers and general public, with a view to increasing the participation of private individuals.(iv) A large part of industrial investment of the private sector to be financed by; National Industrial Finance Institutions. These institutions, while sanctioning loans for the new projects, used to exercise their right of ‘Conversion’ invariably. It implied the right of converting the loans into share capital by the Financial Institutions. ADVERTISEMENTS:Thus, the private firms were always under the constant threat of conversion.
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According to the New Industrial Policy, the Financial Institutions will not insist on the conversion clause. With the expansion of privatization there is every possibility of increase in productivity and efficiency.3. Globalization of Economy:The new economic policy has made the economy outwardly oriented. Now, its activities are to be governed both by domestic market as also the world market.It means unification of the domestic economy with the world, economy. In fact, this has become possible by various policy initiatives taken by the Govt. For instance, devaluation of rupee in June 1991 was intended to do away with the artificially controlled overvalued exchange rate of the rupee. ADVERTISEMENTS:Now, the rupee has been made fully convertible on current account of the balance of payments.
Moreover, elimination of licensing of a large number of import items has enabled the importers to import any where in the world. The reduction in custom duties on imports has also been done to bring them in line with the duties in other countries of the world.In short, globalization means(a) Reduction of trade barriers with a view to allowing free flow of goods to and from the country.(b) Free flow of foreign capital in terms of investment i.e., direct and portfolio for ensuring conducive atmosphere.(c) Free flow of technology, and(d) Free movement of labour and manpower.4.
Market Friendly State:The role of the state is one that is confined to selected non-market areas and is largely to ensure a smooth functioning of the market economy.As compared to past, the ownership of some selected enterprises has been transferred to private sector. Its activities as owner of resources have been confined to two types of activities.One covers the activities which are badly needed for the operation of the economy and the other pertains to social services such as education, health, etc.However, more importantly, the state is to ensure a smooth functioning of the market. For this, the state has to ensure stability in the market through the use of macro economic policies. The state will also intervene in the market when it fails.5. Modernization:New economic Policy accorded high priority to modern techniques.
It aims at to augment the growth rate of sunrise industries. In order to import technical dynamics to Indian industry, the Govt, decided to clear all foreign collaborations. Private entrepreneurs will be free to settle the terms of such collaborations on their own behalf.Moreover, Govt has also been trying to stimulate private entrepreneurs to establish their own research and development centers by offering them various tax concessions. Efforts are also being made to revive and modernize the sick industrial units both within the public and private sectors.6. New Public Sector Policy:Public sector attracted priority.
In the words of Dr. Manmohan Singh, Finance Minister in Congress Govt. That this priority was given to the public enterprises in the hope that it will help to accumulate capital, industrialization, economic growth and removal of poverty.But none of these objectives were achieved. Thus, new economic reforms are trying to shift the emphasis from public to the private sector.
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Did you know that 18 to 24 year olds are the fastest growing age group filing forbankruptcy? The struggles of the economy have put heavy emphasis on the importanceof educating today’s youth towards preparing for a secure financial future. By establishinghow to make smart monetary choices and understanding basic financial principles,we can be sure that the children and young adults of today have the tools for successto achieve a stable economic tomorrow. Join the Youth Financial Literacy Foundationin distributing financial education across our nation! Scholarship ProgramEach year, the Youth Financial Literacy Foundation donates scholarships to college studentsto aid in the advancement of their education.
These scholarships are awarded basedon a series of questions and an essay submitted by the student regarding a distributedfinancial topic. Our hope is that the research and development to produce the answersand essay will open up the conversation and mindset towards their enhancement offinancial knowledge.To View This Year's YFL Scholarship Recipients!
The New Economic Foundation Presentation Pdf
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It’s available via both web and mobile interfaces.The Youth Financial Literacy Foundation has selected multiple program leaders acrossthe US to go into classrooms (Grades 5-9) and present the FamilyMint program. Afterthe initial presentation, the teacher will work with the students to complete theMoney Management Certification Program book. Upon completion of this two month program,the program leader will return to the classroom to hold a celebration, awardingthe children their program completion certificate and present the school with adonation of $500.Visit our online education portal. Freshman Protection PlanThe Freshman Protection Plan is a program consisting of UltraScore: Credit Analyzerand Education Center and LifeLock: Identity Theft Protection.
This plan is offeredeach fall to graduating high school seniors entering into college. At a time whenyoung adults are just beginning to build their credit profile, UltraScore offersthem detailed information on the importance of monitoring their credit score. Theprogram will display any existing items that appear in their credit profile in aneasy-to-understand format, as well as offer tips and tools to ensure they get theirfinancial profile started on the right track.LifeLock, the industry leader in identity theft protection, will monitor the student’scredit profile and applications to protect them against the harmful effects of identitytheft.This year’s applicants have been chosen. Please check back for the next enrollmentopportunity. If you are currently enrolled in the Freshman Protection Plan and needany assistance, please contact 248-848-9065.
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