The other day , i was in a hotel having dinner with my cousin .We had a very good dinner and as we were about to leave, my cousin became furious with me about the amount that i paid as a tip to the bearer.
My cousin was from the US and he claimed that it is a norm that people need to pay atleast 10 percent of the overall bill as tip.
I argued with him why does someone need to offer a tip? It is a service that the bearer provides to the customers of the hotel and rightly he is being payed by his employer i.e. the hotel.So why should i pay.The argument went on and later i asked him,do we get paid or tipped for completing a work in the office?
He was just dumb struck. I also stated that, if we were to tip the bearers on the grounds that he/she is doing a low end job, then we have to do it for people who clean the table or for that matter anyone who does low end jobs like servants at home or corporation cleaners who clean the road.Which i think is a fair argument? We do not see that happening.
I still could not understand his argument or the theory of paying tip for a work that somebody is rightfully paid for by his/her employer.
I am still searching for an answer to that question.
Wednesday, March 18, 2009
Sunday, March 8, 2009
Current Economic Crisis
Well where do i start this . Do i state that there is a fundamental issue with Capitalism? If i say yes, then we also have had issues with Communism in the past and China is having its own share of economic problems as well.
One thing is quite clear ,the whole financial landscape would never be the same once this is out of the way . Regulation of financial entities would be extremely stringet and i expect a fundamental shift in mindset of people .Rather than making a living based on credit ,i expect that focus would be on balancing the actual money earned ,savings and to a lesser extent on credit .I don't think the concept of credit is going to go away,its been with human kind since ages ,so don't expect it to just vanish .
What will certainly happen is that more and more people would put their money to best use and from what ever is being earned ,a lions share would be placed under the head "Savings" .
Whether the world is going to come out and just shift its focus to communism or is still capitalism robust enough to challenge communism ,only time will tell.Until then lets wait and bear the brunt of this crisis.
Could this crisis have been averted,well it's anybodys guess.
One thing is quite clear ,the whole financial landscape would never be the same once this is out of the way . Regulation of financial entities would be extremely stringet and i expect a fundamental shift in mindset of people .Rather than making a living based on credit ,i expect that focus would be on balancing the actual money earned ,savings and to a lesser extent on credit .I don't think the concept of credit is going to go away,its been with human kind since ages ,so don't expect it to just vanish .
What will certainly happen is that more and more people would put their money to best use and from what ever is being earned ,a lions share would be placed under the head "Savings" .
Whether the world is going to come out and just shift its focus to communism or is still capitalism robust enough to challenge communism ,only time will tell.Until then lets wait and bear the brunt of this crisis.
Could this crisis have been averted,well it's anybodys guess.
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