Three Interesting Articles about an Issue Related to Money and Capital Assignment

Three Interesting Articles about an Issue Related to Money and Capital Markets, Financial Markets, Financial Instrument - Assignment Example The first article "Economists are rethinking the view that capital should not be taxed" relates to policy making. Taxation is one of the major tools of fiscal policy. The policy makers consider the canons of taxation put forth by Adam Smith but some markets are so complex that it is almost impossible to achieve all the objectives of these canons: There are trade-offs. This article probes into the usefulness of tax on capital gains. Traditionally, taxes on capital gains have been low because of the belief that higher taxes would have an impact on growth. This article provides arguments against this view and suggests that taxing capital gains is a good idea. America’s current corporate-tax system is being blamed for the struggling economy. Currently, the tax rate on capital gains is 15% which is lower than in many countries. Since the 1970s and 1980s, many economics have believed that this tax must be made lower. Some argue that there should be no capital tax at all. Governments have to tax some part to restore equality and to fund public goods but there is an inevitable trade-off: taxes have an impact on consumption. Negative responses to taxation are harmful for the economy. Taxation has been dealing with inequalities that related to pay differences and these inequalities were addressed through taxation on labor. However, capital tax has more complicated implications because when tax affects the level of investments and savings, it has an impact on future growth and consumption. The economic sector has incessantly appealed the policy makers to cut the rate of capital tax and it was, in fact, brought down to more than half from 1950 to 1980. There is pressure for more and zero capital tax has been recommended by most economists. Messrs Piketty and Saez have argued that lower capital tax has brought more inequalities and lesser growth. They argue that taxing capital gains is not a bad idea because the capital markets are imperfect and it is appropriate to tax capital to provide social insurance against risks. It is commonly believed that capital investments are very sensitive to the changes in tax rates. In order to keep these investments running in the future, zero tax on capital gain should be employed. This belief is reputed by the argument that most of these taxes are paid by working-age ad ults who are saving for their retirement. Therefore, they are going to save regardless of the fact that their savings are being taxed. Some economics argue that the conventional view of taxes has been ignoring inheritances. Taxing hard workers who have earned their income due to their ability seems to be unfair as those who have done nothing to earn their income are exempt. Messrs Piketty and Saez found out that the capital-output ratios

Tourism strategy for Glasgow Assignment Example | Topics and Well Written Essays - 2000 words

Tourism strategy for Glasgow - Assignment Example The research paper â€Å"title† highlights tourism strategy for Glasgow that is guided by its vision statement, which states that their shared ambition for metropolitan Glasgow is of sustained and sustainable growth in the tourism industry as a contribution to the wealth and well-being of all. In addition, the vision for Glasgow 2016 action plan is of leading destination in key markets offering a unique, dynamic, and authentic experience through the quality of place, product, and service differentiated through the strength of the brand, Glasgow: Scotland with style. Glasgow 2016 action plan takes advantage of the city’s growth, favorable national policy environment, and higher level of ambitions and desire for Glasgow’s future prosperity and well-being. This clearly indicates that the strategy for Glasgow tourism is closely linked to the national and city policy document. The Glasgow outcomes and to ensure it meets its 2016 vision, there are certain elements that highlighted in its vision that shows its intention of ensuring economic growth of Scotland. Due to this, the tourism sector takes a major role in protecting the environment and working closely with communities for mutual benefits (Tribe 2010 p. 5). For successful strategic planning, there are several key elements of corporate strategy, which if well implemented, leads to success. These elements include; i. Strategic analysis ii. Strategic purpose iii. Strategic choice iv. Strategic implementation Strategic purpose for tourism Glasgow is defined in its mission which states what the organization aims to achieve in the specified period. In the case of Scotland tourism 2016 action plan, the mission is that by 2016, tourism is seen as the major contributor to economic growth of Scotland. in this regard, the key contributor to Scotland tourism include Glasgow leading attractions, Tourism retail and leisure group, Greater Glasgow hotels association, Glasgow restaurateurs association, Scotland tourism and ministry of tourism. Strategic analysis incorporates consideration of influences upon Scotland tourism in terms of operating environment and resources available in order to attain its objectives by 2016. Strategic analysis is concerned in dealing with major strengths and weaknesses within internal resources and threats and opportunities posed by external environment in which the organization operates (Tribe 2010 p.10). In this sense, Scotland tourism identifies some threats in its external environment. These threats include; i. The use of IT by customers ii. The impact of travel on climate change iii. Competitive natur e of tourism destination iv. Increase in fuel prices The major strength include i. Brand name ii. culture iii. partnership and joint working iv. international gateway v. city centre retail offer vi. architecture vii. conference facilities and viii. access to highlands Major opportunities for Scotland tourism include; i. Continued brand development ii. Increase in short break travel iii. , New hotel development iv. Experiential services v. Collaboration with Edinburgh and other, surrounding destinations vi. Developing service excellence vii. Attracting large scale events viii. Innovative new products and packaging ix. Waterfront regeneration x. Differentiation through unique selling points xi. Employment-rich sector xii. Green issues Major weakness includes; i. Signage ii. gaps in transport infrastructure iii. packaging of experience iv. cleanliness v. Image of sector for employment Strategic choice is more concerned with selection strategy, evaluation of available options and genera tion of strategic options. The strategic option favored by Scotland tourism 2016 action plan has moved from mass tourism where they initially concentrated on price to major emphasis on quality or differentiated tourism where consumer or visitor and host experience is emphasized. The Glasgow: Scotland with style