Welfare State and the European Nations

“The phrase ‘welfare state’ was first used in the late 1930s, to distinguish between the policies of the democracies and the war state of European dictators” (Spicker, 2003). From the late nineteenth century, features of a welfare state began emerge in parts of Western Europe. The first European country to put in place a welfare state was Germany in 1883. The then Chancellor Otto Von Bismarck introduced a mandatory national accident and sickness insurance law. The insurance was financed by state subsidy (Spicker).

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What is the Most Credible Justification of Punishment?

Punishment has been a part of the human society ever since the beginning of civilization. Throughout the history, wrong doings or wrong acts have simply stood out like sore thumbs, greatly affecting the very emotions of man. These wrongful acts, which have been later termed as crimes, are as noticeable as kind acts but the only difference is that the former harbours condemnation than praise; punishment than reward. Man sees such crimes as condemnable especially those that are heinous such as rape, murder, arson, genocide and other types that puts humanity into shame and the community into disarray. Wrongdoers who have been accused of committing crimes would be brought into trials to give them the chance to defend themselves. However, if they fail to do so, then the hands of justice will strike them down and cast down on them the necessary punishment they deserve according to the legal laws created by the governing bodies. When this happens, people will say that “justice has been served” or that the criminal “got what he deserves”. Some will feel that the punishment is necessary to avenge the man or the woman who have been seriously wronged by the offender.

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Petroleum Price Oil and the Economy

The vulnerability of oil-importing countries to higher oil prices varies markedly depending on the degree to which they are net importers and the oil intensity of their economies. According to the results of a quantitative exercise carried out by the IEA in collaboration with the OECD Economics Department and with the assistance of the International Monetary Fund Research Department. Euro-zone countries, which are highly dependent on oil imports, suffered the most in the short term, their GDP dropping by 0.5% and inflation rising by 0.5% in 2007.

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The Financial System In China

This paper will discuss the characteristics of the financial system that exists in China. The role of China's financial system in aiding the growth of firms will also be examined, as well as exploring the possible directions of future development.

The primary motivation here is to have an in-depth understanding of the functioning of the financial system, as well as the regulatory environment in which it functions or operates and in particular, the relationship that exists between the financial and corporate sectors of the economy.

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