Friday, August 21, 2020

Islamic Finance Essay Example | Topics and Well Written Essays - 1500 words

Islamic Finance - Essay Example In private enterprise people have more options where people are allowed to settle on choices about their life, family, political inclusion and business. In communism people are not in charge of their own choices. As opposed to private enterprise and socialism; Islamic framework additionally permits free dynamic to individual until Islamic lessons and standards are not disregarded. In Islamic financial framework people are required to deal with Islamic standards and qualities that do their activities and choice legitimize Islamic lessons or not? On the off chance that individual’s activities are adequate as per Islamic qualities just, at that point people can choose uninhibitedly. Data arrangement in private enterprise isn't free however has certain expense. In private enterprise government doesn't give data, it is accepted that data is out there in the market while people are required to investigate market and concentrate data. In spite of the fact that data is accessible in t he market however it supports abuse of people who are not very much aware of the costs. As opposed to private enterprise; in socialism and Islamic framework data is uninhibitedly given to clients by the administration. Under these frameworks government puts stock in assurance of shopper rights and think of it as the duty of state to keep individuals mindful of market costs. Since private enterprise delegates advancement thus people reserve each option to claim property. People are allowed to purchase and sell property anyplace on the planet (LIODAKE?S, 2010). So also Islamic lessons lecture balance, opportunity and freedom by which people are allowed to purchase and sell property however adjacent to right to property people will undoubtedly pay zakat for their property at the pace of 2.5% every year (AZHAR, 2010). Contrastingly in socialism people reserve no privilege to claim any property where as any property inside the state is possessed by the state. People under socialism are a pportioned real estate parcel as per their administrations and obligations yet they can't pronounce possession to that real estate parcel. In today’s present day world, motivators, advancement, objectives, targets, benefit, business person, development and development are basic to be heard in private enterprise which demonstrate valuable and formative nature of free enterprise. Western way of life can be cited against where development, objectives and motivating forces are profound established in their day by day cognizant. Free enterprise advances ideas of open economy (REDWOOD, 1993). Almost certainly socialism brought colossal development, motivators and progress to Russia however that can't be declared open since all impetuses were accessible to the decision elites and to the gathering individuals while average people were just the laborers (RESNICK and WOLFF, 2002). Islamic framework advances fairness where hypothetically layman has indistinguishable rights and openings from of elites. Under Arabs, Islamic framework got a lot of prevalence, development and achievement yet in present day world, Islamic framework is barely practically speaking to guard its hypothetical standards (MIRAKHOR and ZAIDI, 1988). The job of government in the industrialist economy has no presence however even in United States, this rule has never been genuinely down to earth. Free market as a general rule implies government rules and guidelines on the grounds that without guidelines, private enterprise can never exist (HEILBRONER, 1993). Free market economy is confronted with some market blemishes that are should have been remedied by outer power while government is the outsider to fix the bugs. Far-fetched in present day socialism

Tuesday, July 14, 2020

Bad Debt vs Good Debt Whats the Difference

Bad Debt vs Good Debt What’s the Difference Bad Debt vs Good Debt: What’s the Difference? Bad Debt vs Good Debt: What’s the Difference?One helps you increase your net worth, the other means you’re spending beyond your means.If somebody told you that they had taken out $30,000 to get a nursing degree, you probably wouldn’t be too  shocked, right? Sure, $30,000 is a lot of money, but that education will almost certainly be worth it in the long run.But on the flip side, if a person told you that they were $30,000 in credit card debt, you would probably spit out your drink. $30,000 in credit card debt sounds pretty bad, right?Well, hold on a second… Why is $30,000 of credit card debt so much worse than $30,000 of student debt? In either case, you have to pay back $30,000! Aren’t they both equally bad?No. They most certainly are not.And that’s because one of them is considered “good” debt, while the other is considered “bad debt. Let us explain.What is Good Debt?When it comes to good debt versus bad debt, it really comes down to what kind of purchase that deb t is being used to finance.“Good debt is debt that creates some sort of positive return,” says Brad Botes, a bankruptcy attorney, and founder and president of Bond Botes, PC (@bondandbotes). “Debt that reflects an investment such as real estate or home mortgage debt is usually good.”Natasha Rachel Smith, personal finance expert at (@TopCashBackUSA) says, “It is perfectly OK to accrue debt when it is manageable and the asset purchased will grow in value each year.”When you buy a house, you are doing so with the expectation that the value of that house will increase over time. When you eventually sell the house, you can sell it for more than you paid for it originally.“Borrowing money with the best interest rate, such as a well-structured student loan or a mortgage are considered good debt. An investment into something that has the potential to grow in value or can generate long-term income is good debt,” says Smith.“The best way to understand the di fference is by asking yourself one simple question, ‘Can you write it off on your taxes?’, if the answer is ‘yes’ then your debt is good debt.”Likewise, taking out loans to pay for college is seen as good debt, because you are (hopefully) increasing your future earning potential. Because your debt is helping you work towards a brighter financial future, it counts as good debt.That’s why, in our earlier example, that $30,000 in student debt doesn’t leave you fearing for your friend’s financial future.Of course, taking out $100,000 in student loans to get a degree in Comparative Snapchat Studies is a different storyWhat is Bad Debt?If good debt is debt that’s used to increase your ultimate net worth over time, then bad debt is debt that, well, does the opposite.According to Smith, “Bad debt results when you purchase things that quickly lose their value or do not generate income. Frivolous spending and credit cards with high-interest rates are bad debt.”Financial expert Harrine Freeman (@harrine), CEO and owner of H.E. Freeman Enterprises, says, “Bad debt has no value and is a liability. Bad debt is usually something you cant afford to purchase with cash so you apply for a loan or credit card to pay for it.”Bad debt includes all consumer debt, such as credit cards and personal loans. That’s why hearing that a friend has $30,000 in credit card debt would make you fear for their financial well-being.Bad debt also generally includes auto debt, as cars do not appreciate in value over time like houses do. As the old saying goes, a car starts losing value the second its driven off the lot.So does that mean that you shouldn’t buy a car? Well, we wouldnt say thatAccording to Gerri Detweiler (@gerridetweiler), head of market education for, “Sometimes the line between [good and bad debt] can be blurry. A car loses value the moment you drive it off the lot, but perhaps you need it to get to school or work. Is that bad debt or good deb t?”In the end, “bad” debt can still be an effective tool, especially if you’re using a safe and responsible loan in place of a predatory payday or title loan. It’s all about making sure that you’re using debt responsibly and not spending wildly beyond your means.Smith advises that you “Do not buy things you simply want. Focus on the things you need alongside sometimes treating yourself to the items you want.”Lastly, there’s another way that the term “bad debt” is used that’s a little bit different…Richard Gertler is an attorney and partner at Gertler Law Group, LLC (@gertlerlawgroup). He says, “A bad debt is when the debtor is not paying in a timely manner. A good debt is when the debtor is paying in accordance with the debt payment terms.”“Lenders must consider the risk of not being repaid in determining whether or not to loan money,” says Gertler. “The risk is also considered by the lender in setting the interest rate. The person who shows a pat tern of not timely repaying their debts stands to have higher interest rates or perhaps will be denied the loan.”In this case, it doesn’t matter what kind of debt you have. If you’re not making your payments, that debt is going to become a problem! In addition to the threat of late fees and debt collection agencies, failing to pay your bills can have a very negative impact on your credit. Payment history makes up 35 percent of your scoremore than any other factor!Do good debt and bad debt affect your credit score differently?Having too much debt on your credit report will always have a negative effect on your credit score, but that doesn’t mean that good debt and bad debt affect your score equally.Freeman says, “Yes, these types of debt affect a person’s credit differently Secured debt such as a mortgage or a secured credit card and unsecured debt such as a traditional credit card impact your credit scores the most. Revolving debt such as a credit card impact your credit score next. Installment debt such as student loans impact your credit scores the least.”According to Freeman, “There is no set amount of bad debt that a person needs to have before their creditworthiness is affected because creditworthiness is determined by mathematical calculations and is different for each borrower.”She says that borrowers with a large amount of bad debt are “viewed as a high risk and may have to pay upfront and/or hidden fees, a down payment, a higher interest rate or a balloon payment.”However, as we mentioned earlier, there are many other factors that can lead to debt affecting your creditwhether that debt is good or bad.“Credit scores may take into account different types of debt,” says Detweiler. “For example, a mortgage may have a somewhat different impact than a credit card. But overall credit scores are non-judgmental about the type of debt. They are looking primarily at factors like payment history and debt usage.”Freeman lays out the d ifferent situations where debt can negatively affect your creditworthiness:If your debt-to-income ratio is above 36 percentIf your credit card balance is above 20 percent of the credit card limitIf you made a late payment within the past 6-12 monthsIf your credit card utilization is above 20 percentAccording to Botes, “There is no definite answer to this question but it is fair to say that prospective creditors will look to your debt to income ratio. The higher your debt balance and resulting monthly payments, the lower your creditworthiness.”Your debt-to-income ratio doesn’t measure the amount of debt you have; it measures how much you pay towards that debt each month. If you are putting greater than 36 percent of your monthly income towards debt repayment, that will negatively affect your score.When it comes to your credit score, good debt is better than bad debtespecially if your bad debt is mostly on credit cards. But if you’re really concerned about improving your score , reducing the amount of debt you owe overall is the best way to go.To learn more about debt repayment strategies, check out our blog posts on the Debt Snowball and Debt Avalanche techniques!Visit OppLoans on YouTube | Facebook | Twitter | LinkedINContributorsBrad Botes (@bondandbotes) is the founder and president of each of the Bond Botes, PC law firms, which are located in Alabama, Mississippi and Tennessee, managing the team of lawyers since its inception in 1989. He was recently named a Birmingham “Top Lawyer for 2016.”Gerri Detweiler (@gerridetweiler)A credit expert for more than 20 years, Gerri Detweiler has built up a trove of credit resources, from podcasts to articles to books (two of which you can get for free right now). A friend of the OppLoans Financial Sense Blog, Gerri keeps her Twitter account full of all the financial tips and news you need.Harrine Freeman  (@harrine) is a financial expert, speaker, counselor, writer, CEO and owner of H.E. Freeman Enterprises, a financial services company that provides personal finance consulting services such as credit repair, debt reduction, budgeting, saving, planning for retirement and financial literacy education. Harrine is also the best-selling author of “How to Get out of Debt: Get An “A” Credit Rating for Free.” She has made over 150 media appearances as a featured financial expert.Richard Gertler  (@gertlerlawgroup) is a Partner at  The Gertler Law Group, LLC  in Long Island.  Richard is  experienced in helping individuals and businesses with their bankruptcy or business needs.  Richard Gertler has been helping the people on Long Island for over 20 years and is dedicated to giving people the best service possible.Natasha Rachel Smith  (@topcashbackusa) is a personal finance expert at Natasha’s background is in retail, banking, personal finance and consumer empowerment; ranging from sales to journalism, marketing, public relations and spokesperson work during a 17-year career period. She’s originally from London, UK, but moved to Montclair, New Jersey, USA, several years ago to launch and run the American arm of the British-owned TopCashback brand; a global consumer empowerment and money-saving portal company.

Thursday, May 21, 2020

Harriet Martineau, The Founding Mother Of Sociology

From its emergence in the eighteenth and nineteenth centuries, the sociological field was dominated mostly by men. It was not until the late 1800s that a woman, Harriet Martineau, emerged as the founding mother of sociology. Inspired by Auguste Comte’s perspectives on positivism, Martineau advocated the use of scientific method and logic in sociological findings. She brought her sociological thought and studies to the United States and added a feminist voice to the field; calling for suffrage and education, she used applied sociology to advocate for change (Diniejko, 2010). Before Harriet Martineau, sociology was a field dominated by men, but her education and feminist ideals, allowed her to become the first woman sociologist, and not only break barriers, but implement her feminist ideology and influence her societal observations. By making sociology more accessible and relatable, Martineau was able to earn the title of the Mother of Sociology. Martineau was born in 1802 in an upper-middle class English family who belonged to an exclusive literary club in Norwich. Raised by literate, educated parents, Martineau was mostly self-taught, but she did have access to subjects that were traditionally for men only. Martineau’s ailing health, she was unable to taste or smell she was partially deaf by age twelve, caused her parents to send her to a school run by her aunt and uncle. Her uncle introduced her to Unitarianism and the works of great philosophers (Webster University, 2004;Show MoreRelatedHarriet Martineau : An Early Western Sociologist1229 Words   |  5 Pages Harriet Martineau (Sociologist) Harriet Martineau is an early Western sociologist who was born June 12,1802 in Norwich England. Harriet Martineau has come to be known as the founding mother of sociology for both her theoretical and empirical work. Martineau was one of the first women journalists, she also worked as a translator, speech writer, and wrote acclaimed novels that spoke on pressing social issues. Harriet has published over 50 books and over 2,000 articles in her lifetime

Wednesday, May 6, 2020

Genesis Essay - 1079 Words

There are two main character in this chapter God and Abram. I believe that the setting of this chapter is in the Promise Land. I believe this because he says that this is the land that the Israelites will get when they are released from bondage. From what I know there is the Promise Land that they receive after several hundred years of waiting. Most of this chapter is about Gods covenant with Abram and how it is going to be fulfilled and how it has started to get to the point of fulfillment. Here, God test; the faith of Abram and asks his to perform a sacrifice. Verse 1 begins with After these things... This shows that some time has passed since the last chapter. These things could mean what has happened in the previous†¦show more content†¦I verse 2-3, Abram asks the Lord what he (the Lord) wants from him since he does not have any children. He mentions a man by the name of Eliezer of Damascus. This is the person he says that will inherit his estate if he shall die. Who is this guy? Where did he come from I mean how is he involved with Abram? From what I read in the notes of my bible (NIV) they say that this man could be the servant of Abram. The servants of the owners can be the people that inherit the land of their owners if the owner was to die. During my reading I never found out where he was from but I seen that he was also kind of mentioned in Exodus 4:20. In verse 4-5 the Lord tells Abram that he will have children to take over the land that he has. God has not given Abram everything that he has promised right on the spot he wants to make sure that Abram has faith in him but he will fulfill his promises just as he said. God tells Abram to count all the stars in the sky there are millions of them when he looks up. I believe is saying that we are all decedents or children that Abram would have. Thus he will make a great nation and have children. Here Abram repeats the idea of his servant getting the land. This could be because he wants God to know he wants a child and that God has not given him any like he (God) had promised. In verse 6, there is no talking between Abram andShow MoreRelatedThe Creation Of Genesis : Genesis And Genesis1437 Words   |  6 PagesGenesis Genesis is also known as the first book of the Pentateuch written by Moses and it signifies the beginning of when God had first created the Heavens and Earth. The book is divided into two parts; the first describes the events of mankind including the time of the Dispersion, and the second gives a history about Israel and the death of Joseph. â€Å"The Fall† â€Å"The Fall† is a term used by Christians to explain the process in which the first man and woman moved from a state of innocent obedienceRead MoreThe Value of Genesis1127 Words   |  5 Pageslife, but that is not necessarily true. Take, for example, Genesis. Although it is thousands of years old, the stories, themes, and modern-day allusions contained within it can still apply to everyday life- even to those teenagers who feel disconnected from this book. To begin with, many stories in Genesis relate closely to books that exist today. In fact, some of them are actually based completely on the stories of Genesis and Genesis itself. For example, John Milton’s Paradise Lost is a classicRead MoreThe Book of Genesis815 Words   |  3 PagesThe book of Genesis tells the story of the beginning of the world. Genesis answers some of life’s biggest questions- why are we here, how did everything come to be, how do I relate to others around me. Through this story, God’s unchanging nature is revealed. We are exposed to man’s shortcomings and failures, but we are also offered the hope of one to come who will be the savior of all. The first eleven chapters of Genesis provide a foundation for a Biblical worldview- an explanation of how a ChristianRead MoreThe Value of Genesis1059 Words   |  5 Pagesworks. Take, for example, the book of Genesis. Although written and published thousands of years ago, the stories, themes , and modern-day allusions contained within it can still apply to everyday life- even to those who feel as if they are detached from it. To begin with, many of the stories chronicled in Genesis relate closely to books that exist today. In fact, some are more accurately described as creative recounts of certain events in Genesis and Genesis itself. For example, John Milton’s ParadiseRead MoreA Brief Look at Genesis832 Words   |  3 PagesGenesis The author of Genesis is anonymous but most scholars attribute its composure to Moses. Genesis is believed to have been dated to around 1445 BC (Illustrated Bible Survey an Introduction, 2013).Genesis is part of the Pentateuch or 5 scrolls (Illustrated Bible Survey an Introduction, 2013). It was written for the Israelites to understand their history and creation. Genesis is the beginning. This book begins at our creation. It describes our creation and purpose. The creation of the world andRead MoreThe Book Genesis 879 Words   |  4 PagesIn the book of Genesis, Jacob had many numinous encounters with God. From an experiential view God came to Jacob in his dream and spoke with him. He allowed Jacob to see what he could do for him as long as he obeyed his word. Jacob became enlightened and wanted to do exactly what God said. It seemed as if Jacob had some type of revelation and began to fear God. Fear him from the point of having faith that God would do exactly what he said as long as Jacob followed his every word. When God steps intoRead MoreCritical Criticism Of Genesis1714 Words   |  7 Pagesfrom the place where you are† Genesis 13:14. The word genesis is the dawning of creation, and the biblical book of Genesis is the book that brings fourth the creation of our planet and the life that resides. Genesis also describes the descent of Adam and Eve and unveils the foundation that sin builds upon. Genesis introduces the origin of the holy land, Israel, and inception of holy covenants promised by the holy trinity; the son, the father, and the holy spirit. Genesis communicates the definite eventsRead MoreAnalysis Of The Book Genesis 808 Words   |  4 PagesResponse Paper: Genesis The book of Genesis is the first book of the Bible that lays the foundation on what the whole Bible is about. The first verse of Genesis states, â€Å"In the beginning.† These words show us that before anything ever existed, God existed. Most cannot fathom the fact that God was not created, but He always has, always is, and always will be; which gives us a sense of assurance that we are in a relationship with the one true God. Chapters one and two of Genesis focus on the creationRead More The Book of Genesis Essay1332 Words   |  6 PagesThe Book of Genesis Genesis tells us that; in the beginning, God created the heavens, separated light from dark, and gave earth life. God also created two trees in the Garden of Eden. One was the â€Å"tree of life† and the other was the â€Å"tree of the knowledge of good and evil.† Adam was given life for the first time, and as a special gift, God created Eve. Moreover, God gave mankind freewill, allowing them to do whatever they pleased, so although God had forbidden Adam andRead MoreGenesis : The Natural World987 Words   |  4 PagesThroughout Genesis 1-11, one of the main subjects covered is the natural world. Genesis 1 in particular provides crucial information for understanding the origin of the natural world. In the first verse of the entire Bible (Genesis 1:1), the reader is immediately told that â€Å"God created the heavens and the earth.† Additionally, the reader is informed that â€Å"there was evening and there was morning, the sixth day† (Genesis 1:31), showing that God’s work of creation took six days. Because I believe that

My Beliefs and Values Free Essays

‘My Beliefs, Values, and Clinical Gestalt with Individual’s and Systems’ Paper Ariele Henderson University of Phoenix CERTIFICATE OF ORIGINALITY: I  certify that  the attached  paper,  which was  produced for  the class identified above, is my original work and has not previously been submitted by me or by anyone else for any class. I further declare that I have cited all sources from which I used  language, ideas and information,  whether quoted  verbatim or paraphrased, and that any and all assistance of any kind, which I received while producing this paper, has been acknowledged in the References section. This paper includes no  trademarked material, logos, or images from the Internet, which I do not have written permission to include. We will write a custom essay sample on My Beliefs and Values or any similar topic only for you Order Now I further agree that my name typed  on the line below is intended to have, and shall have the same validity as my handwritten signature. Student’s  signature (name typed here is equivalent to a signature):   _________Ariele Henderson__________________ ___ ‘My Beliefs, Values, and Clinical Gestalt with Individual’s and Systems’ Paper When it comes to being a human services worker there are many needed attributes. A human service worker’s beliefs, values and clinical gestalt play very important role in how they treat and assist clients. Human service workers strive to put their clients at ease, and to help them meet their needs. Through the text exercises and classrooms discussions I have learned that there are many things that I need to work on in order to ensure that I will be an effective and productive social worker. In the exercise â€Å"Clients I might find hard to accept† I learned that it is not for me to agree or disagree with their beliefs, but it is for me to try to see things through their eyes in order to assist them properly. The goal of every human service professional is to help those in need. To do these human service professionals must not push their beliefs or values onto their clients. I will come across clients that come from different backgrounds, environments, and who different beliefs and values. None the less they are human and should be treated as such. One must keep an open mind when working with clients. When doing so clients will feel respected, confident, and comfortable. Human service professionals must learn, and grow from past experiences. A Human service professional’s repose should be calm, exhibit reliability and confidence. Clinical repose is an area that I need to work on. I need to be able to ensure that I can remain calm, regardless of what is occurring around me, or in my personal life. Large societal and system contexts, lead to immediate contexts. It is always good to know where a problem comes from, in order to find a solution that will be beneficial. Dillon Murphy (2003) states: The clinician’s anchored and relaxed presence acts as an island of calm and allows the client to stay self-focused without being distracted by the clinician’s needs or anxieties. This repose is central to supportive presence. It provides a clear but unobtrusive holding environment for the work and the relationship. Clients come to know that they can count on the clinician to remain centered and steady regardless of events and developments. Even in the face of the unexpected, clinicians try to remain as calm and reliable as possible (p. 1). My personal and professional assumptions about clinical helping and their relationships to my beliefs, values, past experiences, familiar and cultural background are: that in clinical helping one must see value for the lives, health, and well being of others. In clinical helping one can learn from past experiences, from an individual’s cultural background, and maybe by even changing one’s values after learning and forming a connection with clients. Before this course I was under the impression that my beliefs, and values have no place in the human services field, I thought that leaving them out would be best for my clients, I have learned otherwise. I have come to the realization that one’s values and beliefs are what make them an excellent human services worker. Human service professionals have a genuine concern for other people. When seeking employment in the human services field, future employees look for agencies that share their beliefs and values. I would find it very difficult to work with staff members who do not try to the best of their ability to help clients due to differences in values, beliefs, backgrounds, or preconceived ideas. The National Association of Social Workers (2009) states that an ethical principal for social workers is that: Social workers treat each person in a caring and respectful fashion, mindful of individual differences and cultural and ethnic diversity. Social workers promote clients’ socially responsible self-determination. Social workers seek to enhance clients’ capacity and opportunity to change and to address their own needs. Social workers are cognizant of their dual responsibility to clients and to the broader society. They seek to resolve conflicts between clients’ interests and the broader society’s interests in a socially responsible manner consistent with the values, ethical principles, and ethical standards of the profession (p. 1). Insights that I have gained about the strengths, I have are that my strengths in listening, and open my mind to the views of my clients are needed strengths, and will be beneficial to me and my clients. There are some areas in which I have determined that I need to work on further. I need to be more aware of the gestures that I am making, and my facial expressions, so that my clients will feel comfortable, and place their trust in me. I also need to find a way to use my values and beliefs to assist clients, but not to form my opinions, or influence decisions. Dillon Murphy (2003) acknowledges that: Individual values are cherished beliefs that develop in the context of family and sociocultural influences. Clinicians may value anything from personal autonomy to personal hygiene and can find themselves dismayed or offended by clients who do not share their value systems. As clinicians, we need to be aware of our values and how they influence our responses to clients in ways that may leave them feeling unaccepted. Clinicians must be dedicated to being nonjudgmental—unconditionally accepting people for who they are without necessarily accepting all their behaviors. The clinician’s nonjudgmental stance leaves clients free to confide openly and honestly without fear of rejection, shaming, or reprisal. As we work with clients and are exposed to diverse situations and beliefs, we often find that our values are challenged and changed. A side benefit of clinical work is that our lenses are inevitably widened so that we both see and appreciate more of the world beyond our own. We ourselves stretch and grow through exposure to differences (p. 1). Human service professionals must be able to put their feelings aside in order to serve the client. It is our ethical responsibility to not let our beliefs and values get in the way of our decision making. It is up to the social workers to ensure that their clients feel comfortable, respected, and that they have confidence in them as a change agent. I believe that I have a lot to learn, and a lot of areas that I need to work on, but with practice and awareness I will go far. Reference Dillon Murphy (2003) Interviewing in Action: Relationship, Process, and Change. Retrieved December 14, 2009, from e-books chapter 4 University of Phoenix National Association of Social Workers (2009) Code of Ethics of the National Association of Social Workers. Retrieved December 14, 2009, from www. socialworkers. org/pubs/Code/code. asp Rankin (n. d. ) Motivational Interviewing in Human Services. Retrieved December 14, 2009, from http://www. media. ncrtm. org/presentations/ARCA_50/ppt/rankin. ppt How to cite My Beliefs and Values, Papers

Friday, April 24, 2020

United States of America versus Canada Medical systems

Table of Contents Private and Government Roles in Healthcare Medical Systems Side View Accessibility Financial, Benefits and Administration Conclusion Reference List United States of America is under intense siege from both its citizens and healthcare providers to adopt a new medical system that is affordable and acceptable by all. In order to achieve this goal, United States of America government is considering other medical systems elsewhere.Advertising We will write a custom research paper sample on United States of America versus Canada Medical systems specifically for you for only $16.05 $11/page Learn More One of those countries under consideration is of course Canada. Medics and politicians are at loggerheads in trying to accommodate Canadian medical system, which looks cheaper and better as compared to that of United States. On the other hand, Canadian government is studying United States medical system as a way of improving theirs. Canada ha s a medical system based on public while private insurance companies mainly run America’s healthcare system. Depending on one’s view, each system has its own advantages and disadvantages. The paper will examine critically, how these systems operate and whether each on of them fits its citizenry without complains. In order to make better comparisons, the paper scrutinizes why governments involves themselves in healthcare. Whether these medical systems are accessible to all citizens, its reimbursement, management and availability of finances is of great concern in adopting one of these systems. All Americans and Canadians need quality healthcare services no matter which medical system their country adopts. (Robert,, 2001, Para. 2-6). Private and Government Roles in Healthcare Both the government and private sector have the capacity to offer medical services. Whoever is the provider of medical service, its quality must not be deniable. Therefore, countries and state s will pump millions of dollars into the system for better service easily accessible and affordable to all. For example, in Canada, the government is the biggest player in healthcare provision. The government of Canada spends about 10 percent of its GDP on healthcare. This is about US$65 billion dollars. (Center for Consumer Medics, 2003, Para. 1-9). About 70 percent of Canadian funding is through local, provincial and federal governments and the rest fitted in through pocket spend out. Contrary, private insurance firms predominantly run the healthcare system of United States. Under this system, Americans pay more in fact, over half of the total expenditure on healthcare. Only 40 percent of the expenditure comes from federal, local and state revenues.Advertising Looking for research paper on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More The intervention of governments in healthcare has raised skepticism. Canadians believe that healthcare is not market commodity for creating profits and price control opportunities. As for Americans, prefer private system because, to them, it creates markets that create competence, competition and price control. In private systems, finances allocate according to demand and supply. In this type, consumers fail to make good judgments. Therefore, the Canadian government intervened to bring equality and accessibility to those underprivileged. Everyone can now access and afford healthcare services regardless of status. (Odette, 1992, Para 1-30). Medical Systems Side View In Canada, universal insurance treatment through provincial insurance procedure and federal administration take place. Each province has only one company entitled to provide funds to hospitals. In most cases, the physicians receive payment on service basis. Like in Canada, most hospitals and medics in United States are private. Patients pay for services in United States. Nonetheless, in United States, both public and private provide insurance funds for healthcare thus an entity market. (Pfaff, 1990, pp.13-47). Employers in United States provide employers with insurance premiums in conjunction with other insurers. Employers are the managers of their own health plan. Those who do not have access to employer-based plan, there are commercial insurers who sell these premiums. Nevertheless, there are other funds like Medicaid provided by federal government to the old, children, expectant mothers and Native Americans. Accessibility In Canada, there is universal access to healthcare services. Depending where you stay-province, every Canadian has right to insurance plan without disparity. Moreover, if one is visiting another province, there is a plan to cover healthcare though within a time limit. (Christina, 2007, Para. 3-7). In America to the contrary, only private insurance healthcare providers exist. There is no uniformity on the service t receive as this depends on the insurance cover one posses. Some Americans have cover from insurance companies, others from Medicare or Medicaid while some receive no coverage at all. Financial, Benefits and Administration In Canada, there is no financial barrier in accessing healthcare as all Canadians access equal and quality services from hospitals. Only those who opt to have private insurance cover can receive extra service like dental, cosmetic surgery and other complicated treatments.Advertising We will write a custom research paper sample on United States of America versus Canada Medical systems specifically for you for only $16.05 $11/page Learn More However, in United States, there are financial barriers as there is only individual insurance cover that is private. This depends on the financial capability of an individual. Though federal government provides assistive programs like Medicaid and Medicare, millions of Americans remain uncovered up to today, a situation termed as uncompensated care. (Naylor, 1991, pp.29-33). On administration matters, in Canada, each province is responsible for insurance programs through non-profit schemes. Provincial administrators are responsible for hospital construction and hiring of physicians. Hospitals get revenue through a budgeting system under concession from provincial control. The government is the overall leader of healthcare under single system provider. On the other hand, administration of healthcare in United States ranges from employers, private insurers, federal and state governments. Thus, the amount of money paid to insurance brokers varies. None of these insurance providers commands the operation of the system. Conclusion Based on the assumption that medical care a need rather than a pay, both systems have limitations and problems. The involvement of governments only worsens the situation. Overall, the system used in Canada seems to be nice as the quality, access and costs balances to yield demand of the people. United Sta tes has a challenge to make sure that all Americans receive easily accessible and quality medical services. Perhaps, to solve the problem, further government involvement will be a gateway and a channel of more finances, which will control greedy insurers from further manipulation. Reference List Center for Medical Consumers. (2003). Health Care Administrative Costs: Canada vs. USA. Bnet. Web. Christina, L. (2007). Health care spending to reach $160 billion this year. Canadian Institute for Health Information. Web.Advertising Looking for research paper on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Naylor, D. (1991). The Canadian Health Care System: an Overview and Some Comparisons with America. University of Toronto, Department of Medicine. Odette, M. (1992). The Canadian and American healthcare Systems. Web. Pfaff, M. (1990).Differences in Health Care Spending Across Countries: Statistical Evidence. Journal of Health Politics, Policy and Law, 15(1). Robert, E., Philippe, M., David, G., Belien, P., Johan, H., and Friedrich, B. (2001). Perspectives on the European Health Care Systems: Some Lessons for America. The Health Foundation. Web. This research paper on United States of America versus Canada Medical systems was written and submitted by user Rosalie H. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.