Case Study Crazy Eduardos Retail Inc.

Case Study Crazy Eduardos Retail Inc. An accounting and auditing system enables businesses to use their data in a uniformed way. It eliminates the possibility of financial information being applied differently in decision making since it is interpreted differently across the organization.Advertising We will write a custom case study sample on Case Study: Crazy Eduardo’s Retail Inc. specifically for you for only $16.05 $11/page Learn More Through an accounting system, the financial information from a company can be relayed in a manner that is void of ambiguity since the system does the interpretation and giving of results. Internal controls of an accounting system supplement the analysis, implementation and design divisions of an accounting system (Leitch, p. 71). It is the internal control that safeguards the entire accounting system from the risk of fraud, violation and external manipulation. It functions as a complete system that is found inside the larger accounting system but having d ifferent roles. Thanks to the internal control, the information provided by the accounting system becomes reliable and timely. It is timely since the control protects against external interference which can interfere with the speed of operations. The information is reliable since the control protects the system from fraud and abuse. The internal control thus ensures that financial information is accurate so that decision making can be effective. For a sales accounting system, the internal control ensures that there is environmental control. Environmental control refers to the resulting employee behaviour and attitude as a result of the objectives set by management. Environmental control ensures that the goals set by management do not go against ethical work practice.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It is crucial for the sales accounting system to be able to as sess common business risks that are faced by the business at different stages of growth. Risk assessment becomes important if the sales function operates in a risky environment. In this case, employees are better placed to carry out risk assessment even though it is supposed to be a function performed by management. Risk assessment and environmental control are functions that threaten the success and profitability of a business. The sales function cannot therefore operate without these roles performed by the internal control. Information communication, monitoring, risk assessment and environmental control ought to take place in the internal control itself so as to eliminate the possibility of inefficiencies, errors and inadequacies. Crazy Eduardo can use the following simple chart which indicates the possible controls for a layout of risks. Control 1 Control 2 Likelihood of breach Magnitude of breach Risk 1 Risk 2 The internal control safeguards the sales accounti ng system from the threat of fraud which occurs when unauthorized parties can access financial information. Financial information is sensitive to a company and unauthorized parties should not be able to access it. Even in the sales function, secrecy of information is important so that marketing strategies cannot leak to competitors.Advertising We will write a custom case study sample on Case Study: Crazy Eduardo’s Retail Inc. specifically for you for only $16.05 $11/page Learn More The internal control enables the sales manager to keep financial information confidential and available only to authorized personnel. Strengths of an internal control Since computerization is widely used in businesses globally, this method of handling sales information is relevant and up to date. Internal control is a computerized approach in the handling of financial information. It therefore brings the advantages of having computerized accounting records in the company. This method of handling information separates the business from people who are considered as external parties. For instance, family members of the owners previously had easy access to company records when financial information was stored manually. Computerization prevents unauthorized access into company records which enables the sales affairs to be void of interference from family members. This approach also prevents malpractice of employees who handle cash. The internal control keeps track of the operations of the sales accounting system. Hence, it becomes difficult for the personnel handling cash to misappropriate funds since everything is computerized. Control is important in the sales function as sales involve the following activities by the sales team: credit, sales, accounting (accounts receivable and payable), billing, mailing, depositing, shipping (inventory) and bank reconciling.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the sales function, there has to be a transaction between the seller and the buyer, authorization of the seller to make the sale and the buyer to make the purchase, accounting recordation, asset custody which is provided through cash or checks, and lastly reconciliation or verification of the account by an auditing team (Gelinas, Dull and Wheeler, p. 239). The internal audit is not audited when the financial information is audited. A report on the internal control can however be issued following the limitations identified from the auditing findings about the financial system. An evaluation of internal control, including internal control over financial reporting Internal control is therefore a crucial role in financial reporting. Financial reporting enables the collection, storage and presentation of financial information in an organized manner. This cannot be complete without internal control which is responsible for creating checks and balances. The internal control is that whic h ensures that the information retrieved from the financial reporting operations are reliable and accurate. Financial reporting is not complete without internal controls, which justifies decisions made from the basis of financial information. Leitch, Michael. Intelligent internal control and risk management: designing high-  performance risk control systems. Aldershot: Gower, Burlington, VT. 2008 Gelinas, Ulric J., Dull, Richard B and Wheeler, Patrick R. Accounting information  systems. Mason, OH: South-Western/ Cengage Learning, 2012

Italian Definite Articles

Italian Definite Articles In English, the definite article (larticolo determinativo) has only one form: the. In Italian, on the other hand, l’articolo determinativo has different forms according to the gender, number, and even the first letter of the noun or adjective it precedes. It’s meant to indicate a precise, quantifiable object or person. This makes learning definite articles a bit more complicated, but once you know the structure, it’s relatively simple to get used to. il quaderno e la penna - the notebook and pen: In this example, the definite articles are â€Å"il† and â€Å"la.†i ragazzi e le ragazze - the boys and girls: In this example, the definite articles are â€Å"i† and â€Å"le.† Heres a table with the definite articles. Singular Plural Masculine il, lo, l i, gli Feminine la, l le Sometimes the articles can be tricky to pronounce (especially â€Å"gli†). When To Use  Definite Articles Here is a list of general rules for when to use definite articles. 1. Lo (pl. gli) is used before masculine nouns beginning with s consonant or z, like â€Å"lo zaino - the backpack† or â€Å"gli scoiattoli - the squirrels†. You will also see â€Å"lo† being used with masculine nouns that begin with â€Å"gn,† like â€Å"lo gnomo.† Here are some examples. lorologio- gli orologi watch- watcheslamico- gli amici friend- friends lo yoga   yogalo yogurt yogurtlo specchio- gli specchi mirror- mirrorslo stadio- gli stadi stadium- stadiumslo psicologo- gli psicologi psychologist- psychologistslo zero- gli zeri zero- zeros NOTE: there are a few exceptions: il dio- gli dà ¨i god- godsper lo meno at leastper lo pià ¹Ã‚  Ã‚  mostly 2. Il (pl. i) is used before masculine nouns beginning with all other consonants, like â€Å"il cibo - the food† or â€Å"i vestiti - the clothes.† 3. L’ (pl. gli) is used before masculine nouns beginning with a vowel, like â€Å"l’aeroporto - the airport,† 4. La (pl. le) is used before feminine nouns beginning with any consonant, like â€Å"la borsa - the purse† or â€Å"le scarpe - the shoes.† Here are some examples: la stazione- le stazioni train station- train stationsla zia- le zie aunt- auntslamica her friendlautomobile the car 5. L’ (pl. le) is used before feminine nouns beginning with a vowel, like â€Å"l’amica - the friend† or â€Å"le donne - the women.† The article agrees in gender and number with the noun it modifies and is repeated before each noun. la Coca–Cola e l’aranciata - the Coke and orangeadegli italiani e i giapponesi - the Italians and the Japanesele zie e gli zii - the aunts and unclesle zie e il nonno - the aunts and the grandfather The first letter of the word immediately following the article determines the article’s form. Compare the following: il giorno (the day) → l’altro giorno (the other day)lo zio (the uncle) → il vecchio zio (the old uncle)i ragazzi (the boys) → gli stessi ragazzi (the same boys)l’amica (the girl  friend) → la nuova amica (the new girl friend) Tips When Using Definite Articles In Italian, the definite article must always be used before the name of a language, except when the verbs parlare (to speak) or studiare (to study) come before the name of the language; in those cases, its up to you whether you want to use it or not. Studio l’italiano. - I study Italian.Studio italiano e arabo. - I study Italian and Arabic.Parlo italiano. - I speak Italian.Parlo l’italiano e il russo. - I speak Italian and Russian.Parlo bene l’italiano. - I speak Italian well. The definite article is also used before the days of the week  to indicate a repeated, habitual activity. Domenica studio. - I’m studying on Sunday. → Marco non studia mai la domenica. - Marco never studies on Sundays.Il lunedà ¬ vado al cinema (ogni lunedà ¬). - On Mondays, I go to the movies.On Monday I go to the movies. (Every Monday)Cosa fai di solito il giovedà ¬? - What do you usually do on thursday evenings?Di solito vado a giocare a carte con i miei nonni -   On thursday, usually I go and play cards with my grandparents. Finally, another common situation where the definite article is used is with telling the time. Notice here though that the article is combined with a preposition making something called an articulated preposition. Mi sono svegliato all’una. - I woke up at one.Vado a scuola alle dieci. - I’m going to school at ten. You can use it to indicate a category or a species in a generic sense: Il cane à ¨ il miglior amico delluomo (tutti i cani). - Dog is mans best friend (all dogs).Luomo à ¨ dotato di ragione. - Man is endowed with reason. (To talk about â€Å"every man†) Or to indicate a particular thing or an object: Hai visto il film? (quel film) - Have you seen the movie? (that movie)Hai visto il professore? - Have you seen the professor?Mi hanno rubato il portafogli. - They stole my wallet.Non trovo pià ¹ le scarpe. - I can’t find my shoes. You’ll also want to use it when preceding possessive pronouns: Lauto di Carlo à ¨ nuova, la mia no. - Charless car is new, but mine isnt. Or with geographical destinations, like: continents: lEuropacountries: lItaliaregions: la Toscanalarge islands: la Siciliaoceans: il Mediterraneolakes: il Gardarivers: il Pomountains: il Cervino (the Matterhorn) And finally, with parts of the body: Mi fa male la testa.- My head hurts. Definite Articles with Names Use definite articles with the last names of famous female celebrities: la Garbola Loren With all surnames in the plural: i Verrigli Strozzi With nicknames and pseudonyms: il Barbarossail Grisoil Canalettoil Caravaggio With proper names used without any specification: Mario but: il signor Mario With the last names of famous or well-known male characters, if not preceded by an adjective or title: Mozart but: il grande Mozart NOTE: There are instances in which the definite article is used, especially when referring to Italian writers: il Petrarcail Manzoni

Do William Morris' ideas, ideals, and influences in arts and crafts Essay

Do William Morris' ideas, ideals, and influences in arts and crafts have any relevance today - Essay Example The real origins of Victorian art revival is believed to have started in the late eighteenth century and when Morris came to the scene, the revival was already in motion and he was not the originator of it. In the post-Napoleonic period, there was unrest in the European air and the younger people lived in expectation of another revolution. Things were fairly unsettled when the Victorian revival was initiated. Morris wrote The Defence of Guinevere and other poems while painting frescoes for the Oxford Union. The pre-Raphaelite group and their company, Morris, Marshall, Faulkner & Co. brought revolution in designs, carpets, wall papers, furniture, tapestries etc. there was a complete revolution in public taste. Morris also wrote prose like the Life and Death of Jason, The Earthly Paradise, Volksunga Saga, political writings like Death Song, Chants for Socialists, The Pilgrims of Hope, Dream of John Ball, News from Nowhere. Later, he was more dedicated to Socialism and wrote Socialism, its growth and outcome, Manifesto of English Socialists, The Wood beyond the World, Well at the World’s End. â€Å"Beauty, which is what is meant by art, using the word in its widest sense, is, I contend, no mere accident to human life, which people can take or leave as they choose, but a positive necessity of life† said William Morris, The Beauty of Life, 1880 Considered to be the most creative artist Britain had ever produced he pervaded all the fields including weaving, embroidering, dyeing, calligraphy, translating, preserving architecture and even working as a businessman. His legacy has lived on after his death and his protà ©gà © Henry Dearle carried on his work influencing artists and designers with Morris’s ideals. Morris was supposed to have expressed the fear that his work would not leave any future impact. It was not so and has proved many times that the art and craft induced by Morris

Networking Essay Example | Topics and Well Written Essays - 500 words - 2

Networking - Essay Example The routing board comprises of a list of known routers with the addresses each router can reach, and a cost metric allied with the path of independent router resulting into the best available route to be selected (Randy, 2003). Hosts that has BGP link by the use of Transmission Control Protocol (TCP) which sends updated router board information only when one host has spotted a change. Here only the affected part of such a routing board are sent. BGP links to automatic functioning local networks be the use of Internal BGP as it is not compatible with IGP. The routers contained the automatic network thus upholding two routing boards: an interior gateway protocol and an IBGP. This results into easy to use Unrestricted Inter-Domain Routing (UIDR). This is a way to have a more addresses in the network than using current IP address assignment system (Clark, 2003). Egypt was able to efficiently detach itself from the internet system by pulling its usual visible routes contained in BGP routing board. The IP addresses identifying computers linked to the internet through Egypt’s ISPs were fundamentally detached to the world connection system. This resulted into computers in Egypt to be compared to houses that has no mailboxes not on any map. Hence the other connection to the downstream countries was unaffected (Tim, 1999). This was facilitated as a BGP ‘advertise’ the native address prefixes to adjoining networks. This made routers to identify where to send packets data with a specified endpoint address. Almost 3,500 Egyptian prefixes at this time were not advertised this made it possible to make them appear missing from the routing board of BGP routers around the global but not necessary affecting the other countries connection. That meant that routers in this case longer knew where to direct packets addressed to IP addresses contained in the detached prefixes—even

Individual Case Study Analysis Essay Example | Topics and Well Written Essays - 2000 words - 2

Individual Case Study Analysis - Essay Example Such problems arise between foreign exchange workers and local supervisors and organizations, with psychological, and personal value implications. The Assistant Language Teachers (ALTs) from the UK, US and Canada have come into conflict with a supervisor and alienation from the staff at the Soto Board of Education, in the course of their service under the Japan Exchange and Teaching (JET) Program. There are a number of contributory causes on both sides, having to do with the expectations and perceptions of JET participants and those of the supervisor. A lack of understanding and appreciation of cross-cultural differences, failure of group formation, and misconceptions in decision making processes, are sought to be remedied by supervisory support, program modifications, and clarification of expectations, intended to diminish the adverse effects of these circumstances. 2.0 Introduction – The Case Situation Kelly, a Canadian, had been working for six months at the Soto Board of E ducation office in Japan as an Assistance Language Teacher (ALT). She is one of four ALTs, the other three being from the US, the UK, and another from Canada. The main complaint of the four was the breach of their work contracts when the reduction of their vacation leave credits for those days they were ill, which should have instead been properly deducted out of their sick leaves. This event was only the most recent in a progression of other incidents, which generally involve the imposition by the group’s supervisor, Mr. Higashi, of his unilateral decisions on the working conditions and assignments of the four ALTs. Mr. Higashi’s orders were apparently inconsistent with the stipulations of the Contract of English Teaching Engagement under which the ALTs were employed, and were felt by them to be attempts to intimidate them into complying with the more onerous work ethic customary of the typical Japanese worker (Lewicki, et al., 2003). 3.0 Relevant decision and issues The relevant decision to be made is: What steps should upper management take to relieve the periodic tensions between ALTs and their Japanese supervisor and create greater symbiosis between them, in order to achieve the goals of the JET? The relevant issues to be discussed are the following: (1) Personal values and culture; and (2) Psychology of the JET supervisor (the decision maker) 4.0 Analysis 4.1 Requisite to comply with the JET contract At the outset, it should be clarified that Mr. Higashi may not arbitrarily assign absences due to illnesses to vacation leave credits because (a) Article 12 Section 1 of the contract defines the sick leave as the holiday properly for the purpose of illness or injury; and (b) vacation leave may only be granted upon the election of the JET participant (in this case, the ALTs); it should be applied for by the participant at least three days in advance, pursuant to Article 11 Section 2. Nowhere in the contract does it state that a supervisor may un ilaterally apply vacation leaves at his own discretion. The ALTs must therefore be

Mobile Phone Conversations vs. Face-to-Face Conversations

Mobile Phone Conversations vs. Face-to-Face Conversations Mobile Phone Conversations vs. Face-to-Face Conversations in Public Settings: An Annotated Bibliography Margarita Parker Cell phones burst into our life in the early 90’s and became an integral part of the modern world. They are convenient and essential. They are not only communication devices but also our friends who keep our secrets and save our happiest moments. They remind us about important events and wake us up in the morning. However, more and more people find it inappropriate and unethical to be involuntarily involved in other people’s cell phone conversations in public settings. At first, this paper was planned to be designed as a research critique paper on a study found in the textbook. The study I found interesting was conducted in 2008 by Scott Campbell, professor of Telecommunications in the University of Michigan (Campbell, 2014). His study, Perceptions of mobile phone use in public: The roles of individualism, collectivism, and focus of the setting (Campbell, 2008), was mentioned by Keyton (2010) in terms of â€Å"how mobile phone use in public settings was influenced by cultural and individual differences† (p. 45). I located the study online at ECU Joyner Library, read it, and found the results interesting. Campbell (2008) found that â€Å"participants with a collectivistic orientation [are] more tolerant of mobile phone use† in public settings that participants with an individualistic orientations (Campbell, 2008). While reading the study, I noticed that Campbell often mentioned the study by Monk et al. (2004) who found that people perceive cell phone conversations in public settings more annoying than face-to-face conversations of the same loudness. I located this study online at ECU Joyner Library, found it very interesting, and my initial research question – â€Å"How people of different cultures perceive the use of the mobile phones in public setting?† – changed to the other one: â€Å"Do people find cell phone conversations in public settings more annoying than face-to-face conversations?† Thus, I shifted my focus from a study in the textbook to an annotated bibliography. The study of Monk et al. (2004) became as incitement for its replication by Forma and Kaplowitz (2012). Therefore, this study was located online at ECU Joyner Library, read and analyzed carefully, and an annotated bibliography of the two studies was written. Monk, A., Carroll, J., Parker, S., Blythe, M. (2004). Why are mobile phones annoying? Behaviour Information Technology, 23 (1), 33-41. doi: 10.1080/01449290310001638496 In this study, Monk and the colleagues investigate the participants’ perception of mobile phone conversations and face-to-face conversations in public places. Monk et al. (2004) suggested that people might be more annoyed when hearing a cell phone conversation than a face-to-face conversation. They hypothesized that there were a few explanations to it. Frist, they suggested that it could be explained by the content or the volume of the conversation. Second explanation could be the novelty of the mobile connection technology. â€Å"People are used to others having face-to face conversations in public spaces and have learned to ignore them. The mobile phone is relatively new and hence more noticeable† (Monk et al., 2004). Third factor was suggested to be the fact that the one only hears a half of the cell phone conversation thus could not fully understand the content of the conversation. The experiment involved sixty-four randomly chosen participant – a half of them in the bus station, another half in the train carriage. The participants were exposed to the same staged conversation – one was face-to-face and another on the cell phone. The conversations lasted about one minutes. After that the participants were asked to read six statements and rate the conversation one the card displaying the Likert scale from 1(‘strongly disagree’) to 5 (‘strongly agree’). Each of the six statements was analyzed separately to find out â€Å"how the three independent variables, context (bus station or train), medium (mobile phone or face-to-face) and loudness (normal or loud), affect the ratings† (Monk et al.). A three-way between-subjects analysis of variance, Levine’s test for heterogeneity of variance, a two-tailed t-test, and a Mann-Whitney U-test were used to analyze the data. Analysis of Statement 1, The conversation was very noticeable, showed that the participants found the mobile conversation more noticeable than the face-to-face conversation of the same volume and content. Most of the ratings of Statement 2, The conversation was intrusive, were low. Analysis of Statement 3, I found myself listening to the conversation, revealed that the participants tended to listen to the cell phone conversation more than the face-to-face conversation. The participants were not strongly agreed or strongly disagreed on Statement 4, I found the ring tone of the phone annoying, as well as Statement 5, I found the volume of the conversation annoying. The rating of Statement 6, I found the content of the conversation annoying, were low. The findings provide evidence that in general, cell phone conversations are perceived as more noticeable and annoying than face-to-face conversations at approximately the same volume and content. The authors conclude that the study supported one of their hypothesis – cell phone conversations are more annoying because one hears only one side of the conversations that means people would rather hear a dialogue of two people than a monologue on the call phone. One of the advantages of the study is the random selection of participants as well as conducting the study in the real public settings were participants could do what they usually do in this public setting. However, the level of background noise was not taken into consideration. It can vary from very loud to very quiet in the bus station as well as on the train. This could affect the results of the study. More could be done on studying the effect of the context and content of the conversation. The authors of this study refer to Wei and Leung (1999) who found that public transportation settings were to be less irritating than restaurants, schools, and libraries (Wei Leung, 1999; Monk et al, 2004). Thus, the experiment could be conducted in the different public places such as restaurants, schools, theaters, hospitals, shopping malls, etc. in order to ensure validity and reliability of the experiment. The content of the conversation could be manipulated from being very annoying (talkin g to a customer service representative) to being very pleasant (congratulation on a new baby). The study is interesting but quite outdated. As stated in one of the hypothesis, cell phones were perceived as novelty. They were the novelty in the 90s but not anymore. However, the cell phone conversations in public setting are still perceived as rude and annoying. Thus, this study needs expansion as well as replication in the current time. Forma, J., Kaplowitz, S.A. (2012). The perceived rudeness of public cell phone behavior. Behaviour Information Technology, 31 (10), 947-952. doi: 10.1080/0144929X.2010.520335 The authors report two studies on the perception of face-to-face and mobile phone conversations. The first study was designed to find out if people speak louder when talking on the cell phone than when talking face-to-face. 90 participants were found on a university campus â€Å"30 cell phone users and 60 people having face-to-face conversations† (Forma Kaplowitz, 2012). The participants were observed in two public settings – in a food court on campus and in a lobby outside the food court. 30 cell phone and 30 face-to-face conversations were discretely recorder by one of the authors of this study who sat within 1 m of the participants and recorded the average dB level for 1 minute. The analysis of the collected data confirmed that people talk louder on the cell phone than face-to-face. The second study was a replication of the study of Monk et al. (2004). The goal of this study was to confirm or disprove the findings of Monk et al. (2004) that mobile phone conversations in public settings are perceived more annoying than face-to-face conversations. As in Monk et al. (2004) experiment, Forma and Kaplowitz (2012) used two actresses who engaged in cell phone and face-to-face staged conversations on a bus. In some of the face-to-face conversations, both actresses were audible while in others only one actress was audible. Participants were students riding the bus on the campus. After the conversation was over, the participants were asked if they noticed the girls’ conversations. Those who answered â€Å"yes† were given the questionnaire. 160 participants completed the questionnaire similar to the one Monk et al. (2004) used. The analysis of the results confirmed the findings of Monk and the colleagues that people perceive cell phone conversations in public places more rude that face-to-face conversations. Moreover, Forma and Kaplowitz (2012) found that face-to-face conversations in which only one person was audible were perceived even more annoying than cell phone conversations. Both studies of Forma and Kaplowitz (2012) are fairly recent, well designed, the topics are deeply analyzed, and the authors’ claims are strongly supported with evidence. The replication of the study of Monk et al. (2004) included more participants (160 vs 64) that could increase validity and reliability of the study. However, there are some factors that could make the validity and reliability of both studies of Forma and Kaplowitz (2012) slightly questionable as the participants were mostly young students, and the sample did not include people of different ages and occupations while in the original study by Monk et al. (2004) participants were randomly selected on the train and the bus station. Lastly, I would like to mention that the studies conducted by Monk et al. (2004) and Forma and Kaplowitz (2012) based on some of the findings in the work â€Å"Blurring public and private behaviours in public space: policy challenges in the use and improper use of the cell phone† by Wei and Leung (1999). This work deserves a special attention. However, this assignment is limited to two annotations. Thus, I am planning to return to this work in the future. References Campbell, S.W. (2008). Perceptions of mobile phone use in public: The roles of individualism, collectivism, and focus of the setting. Communication Reports, 21 (2), 70-81. doi: 10.1080/08934210802301506 Campbell, S.W. (2014). Curriculum Vitae. University of Michigan. Retrieved from http://sitemaker.umich.edu/scott.campbell/files/campbell_cv_aug_2014_.pdf Forma, J., Kaplowitz, S.A. (2012). The perceived rudeness of public cell phone behavior. Behaviour Information Technology, 31 (10), 947-952. doi: 10.1080/0144929X.2010.520335 Keyton, J. (2010.) Communication Research: Asking Questions, Finding Answers (3rd ed.). New York: McGraw-Hill. Monk, A., Carroll, J., Parker, S., Blythe, M. (2004). Why are mobile phones annoying? Behaviour Information Technology, 23 (1), 33-41. doi: 10.1080/01449290310001638496 Wei, R., Leung, L. (1999). Blurring public and private behaviours in public space: policy challenges in the use and improper use of the cell phone. Telematics and Informatics, 16, 11–26. doi:10.1016/S0736-5853(99)00016-7

Parallels Between The Causes Of The 1929 Wall Street Crash And The Curr

The purpose of this essay is to explore the parallels between the underlying factors which led to the 1929 Wall Street Crash and the present Credit Crunch. The 1929 Wall Street crash was caused by weaknesses in the US economy. After WW1 the USA experienced a decade of economic growth generated by the levels of mass production and industrial growth during the war years. This along with the popular culture of success (the Jazz and party scene) made America appear a hugely prosperous country. However, the glitz and glamour of USA was superficial as very few reaped the benefits of this wealth. There were also many weaknesses to this economic growth as it was not achieved in a wholly sustainable way. This can be compared to the USA of the last decade. The economy has appeared to be healthy and prosperous; however, like the economy of the 1920s, there have been many underlying weaknesses. The Republican party of the 1920s believed in low taxation on businesses and protectionism, marking a clear break with the Wilson ideas of ‘free trade’. They introduced acts such as the 1922 Fordney-McCumber Tariff, which raised import duties on chemical and farming products and the 1925 Revenue Act which abolished gift tax, halved estate tax and cut maximum surtax from 40% to 20%. Both presidents of the 20s, Harding and Coolidge, very much believed in ‘minimal government’, believing that the government’s role was to balance the budget, reduce taxes and reduce debt. This Republican view was the essential basis of the economic prosperity seen during the period. They allowed businesses to operate within a wall of economic protection. Profits were increasing and pushing the economy and the feeling of ’prosperity’ yet due to the lack of government r... ...wnward spiral towards a downturn. In the last decade the same thing has happened in regards to securitization and over lending by banks to individuals. The parallels that can be drawn between the two eras can give us a clearer understanding of our current economic crisis. It can also help economists in coming up with solutions as the eras share vital characteristics. However it is just as important to take into account the differences between the two eras, as it would be a mistake to see the eras as an analogy of one another. US society has changed a lot since the 1920s, and the 1920s certainly never witnessed the levels of consumerism that we witness today. However it is perhaps globalization which makes the crisis we face now more complicated to deal with as this has had one of the most profound effects on markets and worldwide trade over the past seventy years.