Pension Reform and Demographic Crisis: Why a Funded System is Needed and why it is not Needed

Based on explicit present value calculations, the paper criticizes the view that the PAYGO system wastes economic resources. In present value terms, there is nothi ng to be gained from a transition to a funded system even though the latter offers a permanently higher rate of return. The sum of the implicit and explicit tax burdens that result from the need to respect the existing pension claims is the same under all systems and transition strategies. Nevertheless a partial transition to a funded system may be a way to overcome the current demographic crisis because it replaces missing human capital with real capital.

Why a Funded Pension System is Useful and Why It is Not Useful

Based on explicit present value calculations, the paper criticizes the view that the PAYGO system wastes economic resources. In present value terms, there is nothing to be gained from a transition to funded system even though the latter offers a permanently higher rate of return. The sum of the implicit and explicit tax burdens that result from the need to respect the existing pension claims is the same under all systems and transition strategies. Nevertheless a partial transition to a funded system may be a way to overcome the current demographic crisis because it replaces missing human capital with real capital and helps smooth tax and child reading costs across the generations.

Application of quality function deployment in redesigning website: A case study on TV3

Internet technology has been used by most of the organizations in the world today. One of the primary vehicles of information gathering and dissemination in today’s world is organizational website. This research evaluates the performance of the present TV3 (a popular private television station in Malaysia) website. By means of an on-line survey and a few focus group discussions, it also identifies the website viewer requirements and their corresponding importance level. Subsequently, the technical requirements are identified that can fulfill the viewer requirements. A House of Quality (HOQ) is built to find the relationship between the viewer and technical requirements. The Quality Function Deployment (QFD) exercise provides the prioritized technical requirements, which is expected to guide the TV3 website development and maintenance team in its future website redesigning project. The findings of the research are also expected to provide some insight in other organizations in similar need.Quality Function Deployment; Website development; Erbsite quality evaluation; TV3;Malaysia

Quality and it's Role in Growth of Bosnian and Herzegovinian Economy

Nowadays in an extremely competitive environment one of the most important issues is efficient management of total business processes which as a result should lead to achieving better financial and development goals and fulfilling customer’s wishes. Efficient management turns to be quality management which includes different methods and techniques. Achieving expected quality of the products and services, as well as total business processes in all aspects, is the only way of surviving in this competitive environment. Framework for the quality implementation in the company is postulates of the different quality concept, such as TQM, Kaizen or Six Sigma. ISO and other certificates are assurance of the product quality. On the other hand, it can be very effective means for entering foreign markets. Due to importance of mentioned concepts and importance of obtaining certificates, this paper is focused on the methodology of the quality management as well as on experiences from real sector and research results. Main aim of research is to determine practical assumptions for efficient quality management and its role in a growth of economy.total business processes, TQM, Kaizen, Six Sigma, ISO, growth of economy

Addressing Academic Underpreparedness in Service of College Completion

Educatio

Rethinking the Professoriate

[Excerpt] The American higher education system faces tremendous pressure to enhance access and graduation rates. In a period of increasing financial difficulties, how will our nation’s higher education institutions achieve these goals and how will they recruit faculty and staff their classes in the future? The answers to these questions, which are the focus of my paper, will likely vary across different types of higher education institutions and will reflect the nature of the classes that they offer and the types of students that they educate

Attitudes in Physics Education: An Alternative Approach to Teaching Physics to Non-Science College Students

In this article, we present an alternative way of teaching conceptual physics for non-science majors by depicting the role of physics in today\u27s technology. The goal of this approach is to increase in the minds of non-science students the acceptance of physics as a useful component in general education, and as a major tool in comprehending the present-day technological world experienced by students outside the classroom