Introduction
Financial magnate still exists in Hong Kong, Japan, Korea. In the past, the financial magnate changed from plutocrat which has strong relationships with the government. In Korea, they call it chaebol and the Japanese call it zaibatsu. The meaning of it refers to a family or a parent company whose kinship relationship is established by the parent company and owns and owns a business group of subsidiaries of various undertakings. The essay will describe and explain the differences of financial magnates of Hong Kong, Japan, and Korea as well as impact.
The difference of government relationship
Start with Japan, before the Cold War, Zaibatsu had a strong relationship with the government. This is mainly based on mutual benefit and
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The main Chaebol including Samsung, Hyundai, LG, SK. In 2011, Samsung occupied for 21.9%, modern occupied for 12.6%, SK occupied for 11.7%, LG occupied for 9%, which is more than half of Korea GDP. It shows that Chaebol has a important position in Korean which is unshakeable. Besides, the dominance of the chaebol family is getting stronger and stronger. Their internal shareholding ratio (the proportion of insider holdings), Samsung 47.5%, Hyundai was 49.2%, SK was 64.6%; LG was 44.3. It found that they have a strong family dominance.
Hong Kong Plutocrat can find the significant economic influence as well. They dominate the real estate, port and utility markets, from these industries have achieved trillion yuan of wealth, accounting for 60% of Hong Kong's annual GDP of 60 million dollars. The Plutocrat monopoly controls the lifeline of Hong Kong's economy. Also, the dominance of the Plutocrat family is strong as well. For example, Lee's family occupied for CK Hutchison 30.07% and Cheung Kong Property 30.1%
It shows that they are very similar in economic capacity and structure, and have very important economic status and family dominance is also very obvious. The only difference is that the Japanese Zaibatsu economic impact is relatively similar, different from Korea's Samsung and Hong Kong's Lee
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More of the Plutocrat cover many different industries such as property, financial and retail industry. They can easily control the supply and price themselves to maximize the interest, but it is a great impact on society. For example, Lee family controls the property supply to prevent the price drop, down which can protect their company interest but it affects the quality life of people. They cannot have enough money to purchase property, it leads people to become utilitarian, all things are based on the interests of the premise. Even it leads to some social issue such child suicide because of parents’ pressure. They think income related to academic qualifications. It shows that Plutocrat has many influences in society, not just only economic
Alea Ortiguerra ASH 4442 Fall 2014. Autobiography of Fukuzawa Yukichi 1. What is the difference between a. and a. Why did Fukuzawa Yukichi decide to learn Western languages? At first, Fukuzawa learned Dutch. After the arrival of Commodore Perry, many samurai were interested and asked to study gunnery, but the best way to do so was through Gensho, or books published in Holland.
Both countries both show more contrasting that make them both unique but also share a uniquely beautiful comparing. This is an important and interesting comparison because although both Japan and China share it’s different beliefs and leadership roles they both share a unique part of them that both make them what they are today. Japan although in present today still has controlled dealings when it comes to foreign policies or trading, this can be relative towards how the similarity of six-teen century japan and today. Along with China they still remain distant to foreign ideas and their independance still continues with the west and other outside countries. Both countries have an interesting background that can be relative today like it for everyone
William Graham Sumner is a social Darwinist who claimed that people who work hard are rich, while people who do not work as hard are poor. In his article of “What the Social Classes Owe Each Other,” he discusses the distinction between the lower and upper class. The upper class consists of all the determined hard workers, while the lower class consists of lazy workers. He believed that every man is given a chance to work for their success, but not everyone is able to grasp their opportunity and most end up in the lower class. In this sense, we should not help the poor. If the rich were to help the poor, it would discourage them from working harder and therefore they would not be working to their full potential. The poor would also become dependent on the rich, which can lead to plutocracy. In a plutocracy, the rich would rule over the poor. However, there is a point when you should help the poor. When they are ready to help themselves and require assistance; they should be helped, but only to a certain degree. Afterwards, they should start to help themselves and try to improve their lives independently. There is a difference between someone trying to help themselves and someone who lives at the expense of a higher class. This demonstrates that a person who has not done their part cannot be compared to a person who has their part in this world. We should help one another by giving each other chances so that we can all reach a higher class.
Within modern society, monetary wealth is the main source of control and power; most people today see wealthy people as “more important” or “more powerful” just cause they have more money than them. Thus in turn giving the wealthy people the upper hand with no one to stand against them allowing them to do as they please. This is the case through many countries around the world. In some countries it varies slightly with the governments listening to there people but taking more influence from these wealthy people, it is on very rare occasion that these people are treated equally with the middle and lower class family’s. A study by Drs Keltner and Piff at the Universit...
Briefly state the main idea of this article: The main idea of this article is that economic inequality has steadily risen in the United States between the richest people and the poorest people. And this inequality affects the people in more ways than buying power; it also affects education, life expectancy, living conditions and possibly happiness. Another idea that he brought up was that the American government tends to give less help to the unemployed than other rich countries.
The argument that I would make concerning utilitarianism that presented in this film is if wages for the rich keep rising it should also be applied the working class as well otherwise it is double standard which implies that the working class should not be allowed to get better wages and get a hard in life in rather than staying at the bottom.
There has been much focus on the amount of power the upper one percent of
The richest people who seem to keep getting richer have been walking into their wealth since the day they have been born. It has been proven by how the companies have been popping up around the world, how the companies are being bribed by governors trying to make their state seem more economically powerful. “Philips, Sony, and Toyota factories are popping up all over—to the self congratulatory applause of the nation’s governors and mayors, who have lured them with promises of tax abatements and new sewers, among other amenities.” (Paragraph 17) People are born into their jobs, and are doomed for their economic boats. IN other countries such as China, it has been proven that the families with the moneys are the ones with the money, are the ones with the economic power. “Many wealthy Chinese and western residents moved their money abroad and some actually left the colony. By 1971, the Cultural Revolution in China had ended in failure and conditions in Hong Kong calmed,” (Lannom) such as Gloria Lannom states, yet it took a while for Hong Kong to rebuild its economic standings because of this
The effect that the rich have in policies is enormous and has been discussed in
... a dynasty on this planet has yet to live forever. There is documentation of empires and governments that have fallen, and the reason behind them failing is always, for the most part, the will of the people in action. Corporations have established themselves as the corner stones of our modern society that we live in today. New ways of thinking are the best approach to avoid making mistakes that have been made in the past. Ben and Jerry’s have been known for there unprecedented rate of giving to charitable organizations in the corporate world, a full 7.5% of its pretax profits(4) as compared to the average American corporation of one percent.(2)
The upper class have the resources to participate, information on politics. Motivation (economic) to participate, access (formal and social) to officials, and contributions in campaigns. This theory also gives private investors many privileges. They can make decisions that increase/decrease land value, cities built on private capitals, fiscal health depends on private investment, bond ratings are based on fiscal health, and they can borrow for school constitutions, etc. The power of the elite is reflected in what cities do not do, example of this is, unemployment compensations, income taxes, and social services (Dr.
Japan is also differentiated by the widely known comparison between other nations, especially those of Europe when it comes to lifestyle and how various economical groups live similarly, since there are no foreign populations in japan the advantage is given to those of authentic Japanese origins regarding the fact they follow their traditions and ethics.
...ussions on Japan’s history, we can now understand why Japan’s emperor remains a significant figurehead in modern Japanese society. Finally, due to our examination of Korea’s colonized past; we now have a clearer indication as to the reason behind their modern day divide.
Money is an essential part of life where every people can satisfy whatever they need and every person in America has a chance to find a job. However, some of the people in the country wanted to go on with their life freely by being a part of a welfare. Furthermore, distribution of wealth is a huge demand of every citizen. Everyone today is trying to look down for every people in the lower class, as they did not give any benefit to the country, waiting for the benefits that they will receive from the government. For instance, when most lower class people have gone through a financial crisis due to overspending, insufficient fund or pay for their work to support themselves and/or their family. The example shows that lower class people made the economy of the country unstable, however, the middle class and the higher class is at fault as well. Furthermore, even though the benefit of that the lower class received is from the middle class, the middle class as well benefits from the higher class. To sum up, every class is at fault towards giving the country’s economy a positive
The Theory of Political Economy theory suggests that dynasties should be economically harmful. A less competitive political space will deliver less use of public resources. At the same time, the dynastic politicians who treat their state or country as a family fiefdom are more likely to use public property to enrich themselves rather than to promote the public good (Journals, 2013).