William James s Decision Based On Intellectual Grounds

In his lecture, â€Å"The Will to Believe,† William James addresses how one adopts a belief. There is a hypothesis and an option, where you choose between two live hypotheses. An option has the characteristics to be live or dead, forced or avoidable, and momentous or trivial. In his thesis, James argues how â€Å"our passional nature† must make our decisions about our beliefs when they cannot be certainly determined on â€Å"intellectual grounds,† however, this is not the case, we can always make the decision based on intellectual grounds. One can use Bayesian probability to gain some grasp of the situation and eventually to make a decision. In section I of James’ lecture, he defines hypothesis, giving examples of live and dead hypotheses. A hypothesis is â€Å"...anything that may be proposed to our belief.† (James, sec. 1) It is anything proposed to be believed, a claim. A hypothesis may be living or dead, depending on the recipient. James explain s the difference between live or dead with an example of believing in Mahdi. To a person that does not know about the subject at hand, it would be a dead hypothesis. However, if this claim was presented to someone who knew the subject matter, it would alive as â€Å"†¦ the hypothesis is among the mind s possibilities.† (James, sec. 1) A live hypothesis is a claim that appears to be a real possibility for the one it is proposed to. A dead hypothesis is a claim that does not appear to be a real possibility for the one it is proposed to. Whether aShow MoreRelatedWilliam James s Will For Believe1171 Words   |  5 Pagessentences. 1. Explain William James’s Will to Believe. There are three elements to observe when dealing with a hypothesis. Jame s noted we must ask is our hypothesis dead or living, forced or avoidable, momentous. What the Will to Believe is advocating is one can morally or rationally believe in God or something, even if there is not sufficient intellectual evidence for such a belief. We answer the questions which are outlined on page 292 over the three points on the grounds of our â€Å"passional natureRead MoreClifford s Views On Religion1488 Words   |  6 Pagesfor me. On the other hand James’ more faith-filled philosophy based on his view of religion, recognizing facts and the truth and how the choices we make in our lives effect us everyday are some of the more relatable ethics that we can apply in our daily lives and to give us some guidance in a life full of so many choices. As we know many people have a stance on religion just like WK Clifford who has a very strong view about religion, but some do not agree. William James for examples thinks thatRead MoreThe University Of North Carolina At Chapel Hill3032 Words   |  13 Pagesgovernment (such as terrorist threats), and perhaps most importantly hate speech (Langhauser). Hate speech is a slightly more controversial issue because of its overall loose definition. Hate speech is often defined as statements â€Å"offending any group based on race, gender, ethnicity, religion, or sexual orientation† (American Bar Association). However, many times courts have found that the simple utterance of hate speech is protected, while the acting out of hate speech is not protected (American BarRead MoreCharismatic And Transformational Theory : The Lion King2838 Words   |  12 Pagesbehind them, whether there is action or unfolding someone’s personality. There are two leadership theories that will be co nveyed, Charismatic Leadership and Transformational Leadership. 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The drugs in the mind constrictingRead MoreEngaging Privacy and Information Technology in a Digita l Age12587 Words   |  51 PagesEngaging Privacy and Information Technology in a Digital Age (Free Executive Summary) http://www.nap.edu/catalog/11896.html Free Executive Summary Engaging Privacy and Information Technology in a Digital Age James Waldo, Herbert S. Lin, and Lynette I. Millett, Editors, Committee on Privacy in the Information Age, National Research Council ISBN: 978-0-309-10392-3, 456 pages, 6 x 9, hardback (2007) This free executive summary is provided by the National Academies as part of our mission to educateRead MoreThe End Of The Cold War Essay4338 Words   |  18 PagesAbstract: This article discusses the end of the Cold War, covering the period from Reagan?s inauguration to the reunification of Germany, which marked the end of the last remnant in Europe of the Cold War. 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The novels and short stories of Henry James and Edith Wharton tended to focus on (A) the tragic outcomes of impoverished characters living in industrialized urban wastelands. (B) the ordeals of isolated characters living as survivalists in the sparsely populated hinterlands of the United States. (C) the inner psychological lives of privileged upper-class characters. (D) the exploits of characters with startling accomplishments and impressiveRead MoreRace Film : The Great And Only Essay10250 Words   |  41 Pagesthough some who knew him insist it was ‘Mi-shaw.’ The correct pronunciation of his name is only the beginning of the ambiguities and mysteries associated with Oscar Micheaux† Patrick Mulligan—Oscar Micheaux: The Great and Only: The Life of America s First Black Filmmaker From the very beginning of the early stages in American cinema, African Americans had a presence on the silver screen. The twentieth century created a new era of cinema that consisted of films produced for and targeted to an all-Black

I Am Starving - Original Writing - 2056 Words

They all laughed at her uncoordinated imitation of a bridal march, the pillow threatening to fall with each step. The 3,000 square feet condominium overflowed with fun and laughter. â€Å"Pizza time,† Ellen yelled. â€Å"At last,† Rick said, marching towards the kitchen knocking the pillow off Rose’s head. â€Å"I’m starving.† Gwen felt a sense of euphoria, reminiscent of her earlier childhood days. She was happy. In a few days she was going to be Mrs. Rick Haley, and for her, the day couldn’t come soon enough. â€Å"What a magnificent spin on a seemingly plain life,† she thought. She was slowly but surely transforming into a high fashion model and had absolutely no idea how it all happened. One day she was the cutie in the baseball cap and the next one she was walking the runways in Paris, London, L.A. and New York. The best news came, however, when her mother was given a thumbs-up at her last doctor’s visit. The X-rays and tests showed her lungs were almost functioning at full capacity. Her appetite had come back and so had the color in her cheeks. Rose was fitted for her bridesmaid’s dress. A size eight! Was it all too good to be true? While they ate, William pulled Rose aside and whispered, â€Å"My family is coming to New York this weekend. They are dying to meet you.† â€Å"What if you invited them to the wedding? I would love for them to come.† â€Å"I thought about it but I didn’t know if Gwen would mind. You know she really wants a small wedding.† â€Å"Gw-w-wen,† RoseShow MoreRelatedAnalysis Of The Book The Great Gatsby By F. Scott Fitzgerald1655 Words   |  7 Pagesfifty-five. â€Å"Come in, child, my name is Fiona Fairday. You must be Ms. Culpepper?† â€Å"Yes.† â€Å"You’ll be staying in the Rose Room, darlin’. I was all booked up until you called yesterday. It must have been your lucky day. A gentleman who visits Madison often on business left early. He’s a traveling salesman and comes this way once a month. He requests the same room every time. 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Critical Thinking about Positive and Normative Theory Samples for Stud

Question: Discuss the critical Thinking about Positive and Normative Theory? Answer: Introduction Accounting practice involves accounting theory which seeks to explain the methodologies and principles used in the financial reporting. All the theories used in the study of accounting are covered by conceptual framework. These theories are based on logical reasoning. Various regulatory bodies such as International Accounting Standards Board (IASB), Financial Accounting Standard Board (FASB) etc. play the role of rule and policy makers in the practice. However, there are beliefs that the accounting theory is said to be originated from behavioural science. On the other hand, few researchers think that accounting theory primarily involves pure science (Alexander, 2013). The paper tries to explain the two basic approaches for the purpose of analysis of the accounting theory. These two approaches are the positive and the normative theory respectively. In the subsequent section of the essay, the paper attempts to differentiate these two theories and finally wraps up with concluding note Critical thinking about positive and normative theory Positive Accounting Theory (PAT) is the branch of accounting research study. PAT attempts to elucidate the actual accounting practices. The theory holds the business as combination and nexus of contracts. Different parties involved herein namely shareholders, managers, employees, customers and suppliers etc. have a mutual relationship with each other by way of business contracts. Accounting, in such case, plays a crucial and critical role to unify all the contracts for the purpose of achievement of greater goals and objectives of the business (Althaus et al. 2012). The views expressed in the given theory has two perspectives namely efficiency perspective and opportunity perspective. Efficiency perspective shows that the managers choose the accounting theory and apply the same in the business practices wisely. In other words, management is efficient enough to practically apply the accounting theories that best suit with business expectations and also help to depict true financial performance of the firm (Cervi, 2013). On the other hand, opportunity perspective holds the view that the management of the business acts in own vested interest. Managers are the agents of the shareholders, being the owners of the business. Such agency issue creates the problem in terms of interest in the business by the respective groups. Managers, for example, are alleged to be intended to show the financial performance better than what actually is. This is because of the fact that the better performance of the business directly has a positive impact on the managerial remuneration (Creedy, 2009). Opportunity perspective is based on three hypothesis and these are briefly discussed as herein. Bonus plan hypothesis states that managers have vested interest in the business, which is the reason they show the financial performance of the company better than what actually is. In other words, managerial compensation and firms financial performance are directly proportional to each other and this gives rise to the incentive for the managers to inflate the profit and mislead the shareholders, the real owners of the business (Freebairn, 2012). Debt-Equity hypothesis, on the other hand, assumes that the managers tend to show more accounting profit in the income statement if the Debt-Equity level of the firm increases. This is because of the fact that higher debt components in the capital structure of the company mean more payment obligations in terms of interest payment and principal repayment (Gordon, 2014). Financial institutions including banks want to check the interest coverage of t he firm and liquidity position of the business so that the business may enjoy sufficient liquidity to pay off the debt. However, here comes the incentive on the part of the managers to overstate the liquidity position so that business possess debt fund flowing in the business. Political cost hypothesis states the tax implications of the business and corresponding impact on the psychologies of the managers. If the business earns more profit, more tax needs to be paid to the Government. Therefore, managers, for the purpose of evasion of tax liability, may tend to show lower profits than what actually is. In other words, as per the hypothesis, the primary intention of the managers revolves around evading tax by lowering profits so that financial performance of the business does not catch the political eyes including Government (Haffner and Winters, 2015). Figure 1: Hierarchy of Positive Accounting Theory (Source: Created by author) Normative Accounting Theory (NAT), on the other hand, is fundamentally different than that of PAT, as discussed above. NAT talks about the optimum accounting theory and practice as against the propositions of PAT which discusses about the actual theories and practices. In other words, NAT discusses what it should be as against the PSAT which talks about what it is. From the viewpoint of logical reasoning, it may be construed that the NAT is more deductive theory than that of PAT. It may be noted that there have been differences in opinions as to whether the methodologies and procedures as laid down under the natural sciences may be appropriate and hence applicable to the social sciences. In this context, it may be observed that the principles of natural sciences may be used in defining and explaining any social issues or cases (Hewson, 2014). However, it may also be noted identified that two human being may not act in a similar manner in same situations. Furthermore, the human being may not repeat the same action in the same situation. Therefore, there are differences with respect to the application of social science and that of natural science. Though NAT proposes to hold the optimum theories of accounting, NAT is alleged to be superficial and unreal. Difference between positive and normative theory relating with the article As discussed above, there are differences between PAT and NAT with respect to the prescriptions, principles and practices. PAT is practical, whereas NAT is theoretical. As mentioned earlier, PAT puts emphasis on what it is. NAT, on the other hand, explains what it should be. It may be claimed that the true net worth of the firm should be communicated to all the stakeholders namely shareholders, borrowers, lenders, customers, suppliers, managers, employees etc. However, financial statements do not always tend to report the true picture of the firm. Fixed assets and other non-current assets of the business are recorded under the historical cost method. On the other hand, few securities including derivatives and other financial instruments may be recorded as per fair value method. Therefore, the balance sheet of the firm shows a mix of assets differently valued following different principles (Hogan, 2012). On the other hand, there have been few inductivists who prefer inductive model ov er the deductive model. Inductivists assume that NAT follows an inductive model. It may be construed that these two theories complement each other and in no way substitute for each other (Lymer and Oats, 2007). In the context of given two articles, it may be observed that the articles discuss two different types of accounting theory. One article talks about accounting as a positive theory. Md. Humayun Kabir, in the article, has mentioned different aspects and anomalies related with positive accounting theory. The paper rightly expresses the different opinions on methodologies followed in accounting practices. The research also portrays gaps identified in the positivism concept in the field of accounting. On the other hand, the second article, written by the same author, showcases different aspects associated with normative accounting theories. The article, as mentioned previously in this paper, presents few differing theories propagated by both inductivists and deductivists researchers under normative accounting framework. These theories, though mutually contradictory at times, present a holistic idea about the accounting theory and practical application of accounting principles. The article by Md. Humayun Kabir on Normative Accounting Theories reviews the exemplary works of different types of theorists (both for inductive and deductive) with respect to accounting. The article shows that one of the approaches in NAT is that the same is based on both deductive and inductive model as well. There are works of various scholars which analyse accounting theory from the viewpoint of both the models namely inductive and deductive. However, it may be mentioned that almost all the works and approaches contain assumptions for the purpose of practical application of these theories and models in the practices. There are separate viewpoints and perspectives to evaluate NAT. Accounting theory may be viewed as a part of normative science from the cost perspective (Lymer and Oats, 2013). Few theorists hold accounting under historical cost method; few others consider market price or current cost model. In addition, few researchers also put reliance on the realisable value or replacement cost. The followers of historical cost convention possess opinion that these market-linked values such as realisable value or resale price are relevant only for few specific types of decision making and not for reporting as a whole. Furthermore, there are dissimilarities between the propositions by dif ferent theorists advocating normative accounting theory. For example, the researchers belonging to historical costs school of thought place critical consideration on the concept of objectivity and verifiability (Mangioni, 2014). In other words, it is opined that the accounting process is objective and does not require enough corroboration by way of assumptions to be validated. Conclusion From the discussion made above, it may be observed that the variations and approaches on accounting theory are the vast areas of entire accounting study. There are various types of perspectives emerged time to time to substantiate the theories and relate the same to practices. It may be construed that reliability is one of the basic and fundamental assumptions and components behind accounting theories (Metcalf, 2007). Financial statements present financial performance of the business to the targeted audiences so that decision making process of every stakeholder associated may be smooth and efficient. In other words, the primary objective of accounting is said to present economic truth to the users of financial statements. Therefore, primary requisite of the financial statements is to be reliable. Accounting theory may be analysed as a positive theory or normative theory. However, the financial reporting should be efficient and it needs to be kept in mind that the accounting informati on helps the management and stakeholders to evaluate the business and take necessary decision accordingly. Lastly, it may be construed that the accounting theories and practices emerge as a part of both social science and natural science. Simultaneous inclusion of measurement and disclosure in the accounting framework makes the subject as a balanced mix of both human science and natural science (Waller, 2007). Therefore, it may be concluded that PAT and NAT support each other. The drawback of NAT has been eliminated, to a greater extent, in PAT. However, NAT provides the theoretical and principle-based framework which is utmost critical for any practices or operations. The combination of both normative and positive theories makes accounting one of the most useful subjects in today's world, which is both practical and based on principles (Woellner et al. 2012). References Alexander, R. M. (2013). Tax transparency. Business Horizons, 56(5), 543549. Althaus, C., Bridgman, P., and Davis, G. (2012). The Australian policy handbook. Australia: Independent Pub Group. Cervi, B. (2013). Buisness focus: Corporate split-up leads to new union. Engineering and Technology, 8(8), 2022. Creedy, J. (2009). Personal income taxation: From theory to policy. Australian Economic Review, 42(4), 496506. Freebairn, J. (2012). Personal income taxation. Economic Papers: A journal of applied economics and policy, 31(1), 1823. Gordon, R. N. (2014). Making hedge funds more tax-efficient. The Journal of Wealth Management, 7(1), 7580. Haffner, M., and Winters, S. (2015). Homeownership taxation in Flanders: Moving towards optimal taxation? International Journal of Housing Policy, 159-168(4), 118. Hewson, J. (2014). The politics of tax reform in Australia. Asia and the Pacific Policy Studies, 1(3), 590599. Hogan, L. (2012). Non-renewable resource taxation: Policy reform in Australia*. Australian Journal of Agricultural and Resource Economics, 56(2), 244259. Lymer, A., and Oats, L. (2007). Taxation - policy and practice 2007-2008: 2007-2008 (14th ed.). Birmingham: Fiscal Publications. Lymer, A., and Oats, L. (2013). Taxation: Policy and practice: 2013/14 (20th ed.). Birmingham: Fiscal Publications. Mangioni, V. (2014). Emerging trends of state land tax and local government rate revenue in Australia. Pacific Rim Property Research Journal, 20(2), 145160. Metcalf, G. E. (2007). Federal tax policy towards energy. Tax Policy and the Economy, 21(4), 145184. Waller, V. (2007). The challenge of institutional integrity in responsive regulation: Field inspections by the Australian taxation office. Law and Policy, 29(1), 6783. Woellner, Woellner, R., Barkoczy, S., and Pinto, D. (2012). Australian taxation law 2012 (23rd ed.). Australia: CCH Australia.