Abstract
The Pension Protection Fund (PPF) was introduced by the Government under the Pensions Act 2004 in order to protect members of private sector defined benefit schemes whose firms become insolvent with insufficient funds in their pension scheme. This paper begins with background discussion on the overall operation of the U.K. pensions system in order to demonstrate the context within which the defined benefit occupational trust scheme, and thus the protection conferred by the PPF, operates. It then examines the origins of the fund amid a growing crisis of deficient pensions funds, before detailing how it operates in practice. The key arguments in support of the title statement are then discussed, and evaluated through consideration of measures that have been taken in order to alleviate any such unnecessary burdens.

Outline:
Abstract
Background
The Role of the Trust in Pensions and the Growing Pensions Crisis
The Origins and Operation of the Pension Protection Fund
The 'Burden' of the Pension Protection Fund
Easing the Burden
Conclusions: An 'Unnecessary' Burden?

From the Paper
"Occupational pension schemes are in almost all cases established in the form of a trust . There are a number of advantageous reasons for this. Firstly, the use of the trust instrument allows for a number of benefits in relation to tax liability; provided that the scheme is 'approved' by the Inland Revenue, the investments made using the trust fund are free from both income and capital gains taxation, whilst additional tax reliefs exist in respect of the contributions to the fund from both the employee and the employer . Secondly the trust represents a "cheap and flexible vehicle" , allowing a scheme to be established in any such way as the employer wishes; consequently allowing it to set the 'balance of power' over the fund in its favour."

Tags:PPF, Pensions, Act, social, security, defined, benefit, occupational, trust, S2P, national, insurance, employer, employee, trustee, risk, based, levy, work, contribution

Abstract
The paper provides an analysis of capitalism, a system frequently regarded as the sole viable economical and political ideology, to explore whether capitalism will prove itself to be a sustainable solution in the long-term. The paper looks at how capitalistic systems have seemingly provided means of immense growth in the past, but then shows how globalisation of capitalism has resulted in vast inequities in many countries and in the enormous influence of the multi-national enterprises (MNEs). The paper also questions how long this system of ever increasing consumption, production and exploitation can continue. The paper concludes by considering that capitalism can be adapted to deliver a sustainable development in the future, but postulates that the strong consumerism culture does not provide such an optimistic perspective.

Outline:
Introduction
Conceptual Background
Analysis and Discussion
Conclusions

From the Paper
"Capitalism has been defined as an economic system in which wealth and the means of production is owned by private individuals and businesses and goods are produced according to the market rules of supply and demand (Han et al., 2008, p128). Hence, the very essence of capitalism is a profit-driven competition. An essential strength of capitalism has been regarded the ability of the free market to coordinate itself as if led by an "invisible hand", as expounded by Adam Smith (Hague and Harrop, 2007, p146). The underlying assumption hereby is that through the pursuit of individual's self-interested activities, society as whole benefits."

Tags:consumption, consumerism, production, exploitation, MNEs, profit, supply, demand, globalization

Abstract
This paper focuses on the changing economic ideas which characterized Margaret Thatcher's time in office. The paper discusses Thatcher's beliefs in the privatisation of state owned infrastructure and the power of the market over other forms of allocation and then shows how business gained significantly more power over sectors which it never used to be able to influence. The paper argues that this legacy has contributed largely to the economic problems we are facing today.

From the Paper
"When Thatcher was elected in 1979 she took over from a Labour government which was struggling to take control of a country in relative turmoil. High unemployment and continuing battles with the trade unions had left the country in a state of relative disrepair. It was largely these conditions under which Thatcher took power that defined the future of her leadership and how she would be remembered. She believed in a Britain which took responsibility for itself. A Britain in which everyone could lift themselves up if only they worked hard enough. Heavily critical of ideas such as the 'nanny state' and overly inclusive systems of social insurance, she believed in hard work as a cure all. It was through individuals working hard for themselves that the country would become great again. Therefore it was always likely that she would pursue lines which would 'liberate' people to work hard.
"Margaret Thatcher, the 'Iron Lady', is largely remembered for the huge amounts of privatisation that occurred under her leadership of the UK (Walsh 2000 p.492). The prevalent philosophy of the time that tied in with both her policies in the UK and also those of President Reagan in the USA was that one should take responsibility for oneself and that the best way to create efficient public services was to privatise everything in the name of efficiency (Jenkins 2006 p.15). This is a philosophy which Jenkins argues has also had a significant effect on the two subsequent Prime Minister's, both John Major and Tony Blair (Jenkins 2006)."

Tags:trade, unions, privatisation, state, regulation

Abstract
In this article, the writer notes that illegal immigration is one of the biggest controversies and highly debated issue in the United States of America. The writer maintains that the impact of illegal immigration on the U.S economy is omnipresent with the U.S economy falling while emerging economies are making significant progress. The writer notes that many economists believe that the illegal immigration into America is a kind of economic war being waged against the Americans. The law makers and the officials in the Government have taken notice of the growing impact of illegal immigrants on the U.S economy and have taken steps to amend the existing laws so as to prevent illegal immigrants from entering the United States of America. The writer discusses that apart from the economic impact, illegal immigration has brought with it other social, religious and security problems. The writer looks at the different faces of illegal immigration and its effects on Americans.

Outline:
Introduction
Illegal immigrants
Modes of Entry
Origin of Illegal Immigrants in America
Impact of Illegal Immigration
Economic Impact
Numerical Data to Support the Economic Impact
Other Faces of Illegal Immigration
Security Issues and Costs
Education and Medical Care Costs
Environment Degradation
Crimes Committed by Illegal Immigrants
Conclusion

From the Paper
"One of the most profound impacts is the decrease in the wages of low skilled workers in America. Jobs that Americans refuse to take because of lower wages are now being taken up by illegal immigrants. This has resulted in unemployment among the Americans. American companies often prefer foreign workers who work harder for a lesser pay than the American citizens. This has lead to improper distribution of income and increased the gap between the rich and poor American citizens. Another reason why the American companies prefer foreign employees is both the employer and employee can easily escape from paying taxes to the Government. The undocumented workers do not pay their taxes. In the case of American employees the taxes are deducted from their pay roll. Although illegal immigrants increase the profits for their employers they hurt the American taxpayers. Since most of the illegal immigrants have low educational qualification and low skill level they are most employed for lower wages in poor working condition mostly in underworld economies. Hence the illegal immigrants easily evade the payment of taxes without their knowledge."

Tags:immigrants, economic, impacts, burden

Abstract
A common trend of reduction of a state's social policy scope after a fiscal crisis has been reflected in the reform path pursued by Ireland ,and even more so ,the case of Bulgaria. The paper shows that, in both cases, the start of reforms has been triggered by a crisis, and the ongoing reform strategies are being shaped by the different economic pressures and political priorities pursued by the two countries, which are standing at different phases of economic development and integration with the European Union. The paper explains that the cases of Ireland and Bulgaria are informative of the diversity of responses different polities may adopt in the face of similar economic challenges, like fiscal imbalance. While Ireland was able to confront the situation in a framework of a broad political and social consensus, in Bulgaria, the beginning of a consistent reform process was only possible after a reform-minded party was able to collect the votes necessary to form a government. The paper also makes extensive use of tables.

From the Paper
"The economic success of the country over the period covered by the first agreement (PNR) was apparently convincing enough to keep the policy to this day. Throughout the 1990s labour relations in Ireland are dealt with via three-year agreements with titles such as "Program for Economic and Social Progress," "Program for Competitiveness and Work," and (starting 2000) "Program for Prosperity and Fairness." The late 1980s and early 1990s were marked by a great progress in reducing deficit and attracting FDI. Unemployment however remained a major concern throughout the beginning of the reform period (standing at 17.4% in 1986); it only began to decline since 1993. Nonetheless now, more than a decade after the beginning of reforms in Ireland unemployment is also fully contained at a level of around 4% in 2000. Active labor market policies absorbed as much as 1.75% GDP in the mid-1990s."

Tags:GDP, BSP, Simeon

Abstract
In this article, the writer studies J. M. Keynes' consumption theory, also known as the absolute income hypothesis, and the permanent income hypothesis, suggested by M. Friedman in the famous paper "A Theory of the Consumption Function". The writer starts with a brief overview of the Keynesian consumption theory and then continues with the explanation of the permanent income hypothesis (PIH). The writer maintains that the Keynesian consumption theory fails to provide a valid explanation of consumer behaviour in the sense that it does not incorporate rational expectations that sensible and generally forward-looking consumers make. The writer concludes that Friedman's permanent income hypothesis, therefore, becomes more plausible when it suggests that consumption tends to be smoothed out throughout time periods allowing for income fluctuations to occur and that consumption responds to permanent changes in permanent income rather than to temporary changes in actual income.

From the Paper
"Clearly, the main weakness of the Keynes' theory is that it assumes that individuals are short-sighted because they observe their actual income only and ignore the potential future income (or lack of it). A more reasonable approach is to presume that consumers' behaviour is likely to be intelligent and forward-looking. In this case, current consumption decisions become highly dependent on the expectations about the future, i.e. future labour income, real interest rates or taxes. The model which incorporates these expectations is the permanent income hypothesis.
"The central idea behind the PIH model is that individuals form estimates of their ability to consume in the long run and then set current consumption to the appropriate fraction of that estimate in order to smooth out their consumption over periods even when their income may be subject to fluctuations."

Tags:goods, demand, income, fluctuations

Abstract
After beginning by acknowledging that complexity is a major problematic feature of modern tax legislation, this essay proposes that the issue of reducing complexity and increasing simplicity be the main benchmark against which three discussion areas - The Tax Law Rewrite Project, The Tax Structure Review Programme and Parliamentary Reform - be critically examined in order to assess the extent to which they have improved, or could potentially improve, the making of tax law.

Outline:
Abstract
The Tax Law Rewrite Project
Tax Structure Review Programme
Parliamentary Reform
Conclusion

From the Paper
The suggestion that tax law should be 'simple and certain' is by no means a recent one; indeed it was one of Adam Smith's well known canons of taxation in his Enquiry into the Wealth of Nations of 1776 that this should be so . In spite of this, increasing complexity over the years appears to have been the norm for tax legislation. But what is it that makes it 'complex'? Adam Broke identifies it as manifesting itself as four individual factors: diversity (that the range of taxes is so broad that no one can claim to have an in depth competence with them all); volume (with the physical number of pages that make up the annual finance act growing significantly each year); drafting (with legislation being expressed in a way that is - at best - "unhelpful to the reader"); and finally, language (with the legislation being full of words that are not a part of modern ordinary vocabulary).

Tags:legislation, finance, taxes, reform

Abstract
In this article, the writer firstly outlines the major factors that led to increased political participation in Europe. Secondly, the writer then focuses on the prospects for liberal democracy in Europe; to what extent it is under threat and what challenges it will have to overcome. The writer maintains that it is clear to see how industrialisation and the spread of reformist and radical ideas led to increased political participation in Europe over the nineteenth and twentieth centuries. However, although the status quo appears generally stable, modern democrats must be vigilant against the forces that would seek to attack the liberal foundation upon which modern Europe rests. The writer concludes that it is general political apathy on the part of many in Europe combined with the continuing rise of extremism that will pose the greatest threat in the future.

From the Paper
"In addition to the above, the urban working class of Europe developed a political consciousness in the early and mid nineteenth century that translated into a firm desire to gain a voice in the political process. Although industrialisation and the prospect of higher wages had brought many workers from the countryside into the towns, the conditions they were subject to were hideous. Workers were forced to work very long hours for little financial reward. Furthermore, living conditions were invariably worse that those of the countryside as the mass migration of thousands into the cities precipitated widespread disease and cramped squalled housing. Adding to this situation was a sense of utter powerlessness. The working masses had no form of political representation to turn in order to redress their grievances; even the early trade union movement was suppressed across many parts of the continent. Given this situation, it is unsurprising that both the urban and rural working classes constantly agitated for political participation in their respective countries; often led by members of the lower middle class."

Tags:industrial, revolution, representation, class

Abstract
This paper evaluates the relative strengths and weaknesses of the political economy espoused by the Fabians. It provides a history and general overview of the system and discusses the tenets of Fabian political economy. The paper concludes that the inconsistencies in the Fabian analysis of socialism dwarf its strengths and discusses the reasons for this conclusion.

From the Paper
"In conclusion many of the assertions proffered by the Fabians clearly have strong elements of validity. The prescriptive and scientific approach to policy prescriptions, along with a wish to work to change the current system as opposed to overthrowing it gave their analysis significant legitimacy. However, the endemic flaws that lay within their brand of socialism made the application of their theories extremely difficult. It was this that constrained the minority Labour governments of the inter war years, and made it unlikely for their analysis as a whole to be adopted by later governments."

Tags:socialism, labour, employees

Abstract
The paper provides an historical, analytical and critical analysis of development theories. It traces development from modernization, as a globalization project and as a post-structuralist construction. The paper argues that post-structuralism in development studies has opened a wider debate in critically understanding development theory and practice, but the paradigm falls short as a historical project for emancipation and empowerment.

Table of Contents:
Introduction
Modernism, Marxism and Neoliberalism vs. Post-Structuralism
What has Post-Structuralism done in the Development Debate?

From the Paper
"The crisis of development theory and practice dates back in the 1980s when development as a project failed to alleviate majority of the people from poverty, the crisis of alternatives to neoliberalism due to the collapse of socialism, and the claims of diversity and rejection of homogenisation of the category "Third World" (Simon 1997). The rise of the neoliberal discourse - roughly the emphasis on the market over the state in governance - reached its global scope as hegemonic states and international institutions implemented the Washington Consensus across regions: structural adjustment programs (SAPs) in Latin America and Africa, 'shock therapy' liberalisation and privatisation in post-communist countries, and financial liberalisation coupled with currency devaluation in Asian developmental states as a response to the 1997 Asian Crisis. This interventionist prescription resonating from the international down to the local levels represent what critiques of this development paradigm call modernist or structuralist view on development. Post-development discourse is founded on three critiques to modernization theory: the failure of the development process to alleviate the poor and the marginalised from poverty and hunger; the exclusion of the participants themselves from the formulation of these development strategies; and the over-emphasis of Marxist and Modernist theories on structures rather than agency towards social change."

Tags:globalization, studies, theory, modernization