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The Business and Economics Portal  Business is the practice of making one's living or making money by producing orbuying and sellingproducts (such asgoods andservices). It is also "any activity or enterprise entered into for profit." A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired except for limited liability company. Thetaxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. A distinction is made in law and public offices between the term business and acompany (such as acorporation orcooperative). Colloquially, the terms are used interchangeably. (Full article...) Economics (/ˌɛkəˈnɒmɪks,ˌiːkə-/) is asocial science that studies theproduction,distribution, andconsumption ofgoods and services. Economics focuses on the behaviour and interactions ofeconomic agents and howeconomies work.Microeconomics analyses what is viewed as basic elements withineconomies, including individual agents andmarkets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers.Macroeconomics analyses economies as systems where production, distribution, consumption,savings, andinvestment expenditure interact; and thefactors of production affecting them, such as:labour,capital,land, andenterprise,inflation,economic growth, andpublic policies that impactthese elements. It also seeks toanalyse and describe theglobal economy. (Full article...) Selected article John Stuart Mill (20 May 1806 – 7 May 1873) was an Englishphilosopher,political economist, politician and civil servant. One of the most influential thinkers in the history ofliberalism andsocial liberalism, he contributed widely tosocial theory,political theory, and political economy. Dubbed "the most influential English-speaking philosopher of the nineteenth century" by theStanford Encyclopedia of Philosophy, he conceived ofliberty as justifying the freedom of the individual in opposition to unlimited state andsocial control. He advocated political and social reforms such as proportional representation, the emancipation of women, and the development of labour organisations and farm cooperatives. TheColumbia Encyclopedia describes Mill as occasionally coming "close to socialism, a theory repugnant to his predecessors". He was a proponent ofutilitarianism, an ethical theory developed by his predecessorJeremy Bentham. He contributed to the investigation ofscientific methodology, though his knowledge of the topic was based on the writings of others, notablyWilliam Whewell,John Herschel, andAuguste Comte, and research carried out for Mill byAlexander Bain. He engaged in written debate with Whewell. Selected image
Selected economy Skyline of Singapore'sDowntown Core Theeconomy of Singapore is ahighly developedmixedmarket economy withdirigiste characteristics.Singapore's economy has been consistently ranked as the most open, competitive and pro-business in the world. It is also the3rd least corrupt in the world. Singapore has lowtax-rates and thehighest per-capita GDP in the world in terms of purchasing power parity (PPP). TheAsia-Pacific Economic Cooperation (APEC) is headquartered in Singapore. Alongside thebusiness-friendly reputation for global and localprivately held companies andpublic companies, various nationalstate-owned enterprises play a substantial role in Singapore's economy. Thesovereign wealth fundTemasek Holdings holds majority stakes in several of the nation's largestbellwether companies, such asSingapore Airlines,Singtel,ST Engineering andMediacorp. With regards toforeign direct investment (FDI), the Singaporean economy is a majorFDI outflow-financier in the world. In addition, throughout its history, Singapore has benefited from thelarge inward flows of FDI from globalinvestors,financial institutions andmultinational corporations (MNCs) due to its highly attractive investment climate along with a stable and conducive political environment throughout its modern years. (Full article...) Selected quote"In the progress of thedivision of labour, the employment of the far greater part of those who live by labour, that is, of the great body of the people, comes to be confined to a few very simple operations, frequently to one or two. But the understandings of the greater part of men are necessarily formed by their ordinaryemployments. The man whose whole life is spent in performing a few simple operations, of which the effects are perhaps always the same, or very nearly the same, has no occasion to exert hisunderstanding or to exercise hisinvention in finding out expedients for removing difficulties which never occur. He naturally loses, therefore, the habit of such exertion, and generally becomes as stupid and ignorant as it is possible for a human creature to become. Thetorpor of his mind renders him not only incapable of relishing or bearing a part in any rational conversation, but of conceiving any generous, noble, or tender sentiment, and consequently of forming any just judgment concerning many even of the ordinary duties of private life. Of the great and extensive interests of his country he is altogether incapable of judging, and unless very particular pains have been taken to render him otherwise, he is equally incapable of defending hiscountry inwar. The uniformity of his stationary life naturally corrupts thecourage of his mind, and makes him regard with abhorrence the irregular, uncertain, and adventurous life of asoldier. It corrupts even the activity of his body, and renders him incapable of exerting his strength with vigour and perseverance in any other employment than that to which he has been bred. His dexterity at his own particular trade seems, in this manner, to be acquired at the expence of his intellectual, social, and martial virtues. But in every improved and civilized society this is the state into which the labouringpoor, that is, the great body of the people, must necessarily fall, unlessgovernment takes some pains to prevent it." TopicsRelated WikiProjectsDid you know(auto-generated) -load new batch
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