THE GREEK´S TRAGEDY

By: Felipe Argote

The financial crisis is not developing in hours or days, even weeks. What happens is that analysts’ generally uninformed people react after the explosion of the crisis and analyzed retrospectively from the comfort of their offices the reasons for the carnage. It is similar to those Monday morning office coaches, explaining precisely like specialists why their favorite team lost the game on Sunday afternoon.

The Greek crisis does not start a week ago, even in February when there was talk of Greek tragedy as if it were the theatrical performance of Sophocles' tragic poet, that V century BC which Oedipus is perhaps his better known tragedy. The crisis began under the previous Greek government and continued during the current. In December last year, the Greek Prime Minister George Papandreau presented a plan to reduce the budget deficit to 8.7% of GDP. At that time was estimated at 12.7%, well above the 3% that under the agreement is the roof of the countries member of the European Union. The response of the risk rating agencies, namely Standard and Poor's, was breaking down the Greek sovereign bonds from A to BBB+. This grade would be cause for celebration for the Panamanian government if it were the sovereign risk rating of Panama, but not for a developed country member of the euro zone as Greece.

It is in February when it became known Papandreau plan, after approval by the European Union. These include, inter alia, raising the consumption tax known worldwide as VAT (value added) and in Panama known as the hardest ITBMS (imposed on the transfer of goods and services). This tax would raise no less than 21%. Additionally, reduced to 30% bonus to civil servants (thirteenth month in Panama)

This starts, of course, resistance movements of the population that translate into marches and strikes, while the finance ministers of the European Union decide to help finance a loan of Greek 35.000 billion Euros while the International Monetary Fund, always ready to do business in times of crisis will invest 15.000 million. Meanwhile, rating agencies are lowering the sovereign rating of Greece. Eurostat raised the budget deficit calculation of Greece to 13.8%.

Finally the catalyst is given on Tuesday 27 April when Standard and Poor's rating Greece reduces BBB+ to BB+ with that out of the investment grade better known as junk bonds. This generates the panic of debt holders who were trying to get rid of them like hot potatoes to the danger of bankruptcy in Greece and therefore non-payment of its obligations. As is the story repeatedly, comes the domino effect. The Greek crisis has had its effect throughout Europe starting with Portugal, then Spain, where unemployment levels have reached 20%, most recently Mexico and even the stock market in New York.

Finally, the euro has lowered its value to $1.32 per euro. According to Dominique Strauss Kahn, International Monetary Fund Managing Greece needs an injection of 150,000 million dollars to avoid bankruptcy and the subsequent effect on the global economy. This is three times as estimated by the timid European Union measures less than a month of May 19 when starting the maturity of bonds by almost 30,000 Greeks billion.

THE ISLANDIC VOLCANO

By: Felipe Argote

Everyone talks about the Islandic volcano. Probably due to the intricacy of venturing the pronunciation of his name. The volcano Eyjafjallayokull stopped European air traffic for over a week. But is not the first time an Icelandic volcano caused difficulties for Europe. In 1783 and 1784 the volcano Laki killed a third of the population of Iceland and caused many deaths, with a drop in temperature in Europe, but its effect on monsoon winds caused a temperature rise in Egypt up to two degrees Celsius, which had the effect of reducing the elevation of the ancient Nile, essential for the harvest of the valley. An estimated one sixth of the population of the Nile Valley died of starvation as a result of the eruption of Laki.

The Eyjafjallayokull is located on a glacier of the same name only 120 kilometers from the island's capital Reykjavik. Iceland is a frozen island northwest of England. Just over 100,000 square km on 2006 only managed to surpass the fpopulation of 300,000. With a gross domestic product per capita of $ 63000.00 is one of the countries that enjoy a higher standard of living in the world.

Some people remember Reykyavik as the capital of the chess world since the American Bobby Fischer won the world title there Boris Spasky into Russian in 1972 amid the Cold War, shortly before the end of the Vietnam War. In the same the country American chess player died in January 2008 where he lived as a political refugee after being accused by the U.S. government of treason for traveling to Yugoslavia in 1992 to play chess against the same Spasky in exchange for three million dollars.

Iceland is currently governed since 2009 by a woman named as unspeakable as the volcano that erupted recently: Jóhanna Sigurðardóttir. Icelandic Prime Minister, born in 1942 is the first leader of the world in recognition of the LGBT community. Openly lesbian is legally married to the journalist and playwright Jonina Leósdóttir Icelandic, born in 1954. His political career began from working as a flight attendant and became the leader of the union. Before becoming Prime Minister she was elected for the parliament, then vice president of parliament, president of the Social Democratic Party and Minister in four governments.

Eyjafjallayokul volcano had not erupted since 1821. Despite the drawbacks raised in its environs, where there was a need to evacuate about 600 people and damage on some sheep farms from the effects of certain gases which can be toxic, as well as damage to the vegetation, the biggest drawback caused by the eruption of the volcano Eyjafjallayokull is Air Navigation in Europe. The cloud of ashes raised from the volcano stopped air operations in nearly 60% being the worst airline crisis in European history and affecting six million passengers at airports in 20 countries in Europe.

All this because the ash particles that after being expelled to 10 miles above the volcano are left floating in the atmosphere and can cause serious damage to the fuselage of the aircraft in danger of stopping the aircraft engine in flight. As I write this note the Icelandic volcano is still pouring ashes on the old continent.

THE ISLAND UNDER THE SEA

By: Felipe Argote

Dance, dance, Zarité, because slave who dances is free... while dancing.

Toulouse Valmorain is summoned to a remote island called Saint Domingue, formerly called Haiti by the natives Arahucos, to work temporarily with the planting of his ailing father. He never suspected that the illness of his father was syphilis and he, himself, would be in charge of the plantation until the slave revolution that achieved independence from the French colony.

But most of the history of the novel, The Island Under the Sea is the story of Zarité, the beautiful slave with whom the slave owner had a son and a daughter, how she survived the cruelty of his master and about the uprising of the slaves which led to corollary the only triumph of an insurrection of slaves who have triumphed in all of history.

Zarité does not live but survives as a domestic slave since child silently suffering inhuman treatment of his master, rapes and being witness to the cruelty of the overseer to the slaves of the plantation. Staying alive, just gnawing their hatred with the hope of escaping to freedom.

But when slave uprising finally arrived to the plantation instead of collecting his revenge she saves the life of her master just because he was the father of her children. This rewards her with the promise of freedom but he never thought he was going to make this come true. Not even worth the nobility of Zarité for the cruel slave owner to tell her where was her first male child who had been given to somebody else, according to custom, to avoid the male bastard to dare to the future ownership dispute with his step-son the son of the slave owner´s legitimate wife.

Also the story is about her emigration to New Orleans Zarité always as a slave, and finally that although freedom is not much better than the life they suffered, there can be nothing worse than slavery.

The Island Under the Sea, which gives the title to the novel, is a paradise after death, according to the religion brought by African slaves who survived despite the ban on pain of death by the evil slave owner´s Christians that branded as demonic. For the slave the cultivation of sugar cane was so demanding that people did not work but using beast as they call black people who had an average life of eighteen months.

Isabel Allende since its first publication "The House of Spirits" in 1982, has done nothing but surprise us with a fluent pen, high literary value, capable of developing such diverse topics as "Ines del Alma Mía" which recounts the colonization de Chile and "The City of the Beasts", a youth adventure. Isabel Allende is undoubtedly one of the best writers today. Born in Perú to Chilean parents has lived since 1988 in California. We recommend The Island Under the Sea because it is one of the best historical novels I have read and Isabel Allende, one of the best novelists.

THE TWINS WHO STOLE THE MOON

In 1962, twin boys decide to steal the moon. There he begins an adventure that became the most-watched children's film in Poland, directed by Jan Batory. But this adventure of identical twins does not end there. In real life Lech and Baroslaw Kaczynski, who starred in the film, would have much time to keep the attention of the Polish public.

In 1980 exploits the strike in the Gdansk shipyards. In this and other strikes comes the Solidarity trade union led by an electrician who did not work in the yard. This is Lech Walesa, who climbed the fence at the time the Lenin shipyard strikers had seized the company and became its leader. This is the beginning of a popular uprising that faced the Communist Party government which ruled for the best interests of the Soviet Union. Most of the people did not accept the situation of Russian semi-colony. It is at this moment that reappear Baroslaw and Lech Kaczynski twins. Lech, who had just graduated as a lawyer was appointed consultant of the strike committee, a coordination of strikers led the Solidarity trade union and eventually served for the creation of party solidarity. The Solidarity Party leaded by Lech Walesa was a popular right-wing organization supported by the Polish Catholic church at that time and had the support of Karol Jozef Wojtyla, who was appointed Pope John Paul II in 1978.

But Kaczynski twins were more so to the right and participate in the formation of the Solidarity Party-Civic Alliance of Right, a right coalition of conservative Catholics, including the most right wing of trade union Solidarity. Then he founded the Law and Justice party with which far-right election win in 2005. Lech Kaczynski was elected president and then appointed his twin brother as prime minister. Two years later the government loses the early elections called after a corruption scandal in the ministry of agriculture. But according to the electoral polish system, Lech Kaczynski still holds the post of president until new elections.

The story of the twins, as if it were a movie, is rocked by the death of Lech Kaczynski in a plane crash which also killed his wife, Maria Kaczyńska, Polish military leaders such as Chief of Staff and commanders heads of the Army, Sea, Air and Special Forces, Central Bank Governor, the Ombudsman, several deputy ministers, members of Parliament, a delegation from the Government, its political cabinet and prelates of the Catholic Church. They were to commemorate the seventy years of the slaughter of Katyn, a mass execution which is estimated at 22,000 people ordered by Joseph Stalin in 1940. The commemoration of the slaughter mobilized the entire elite of the regime in a time due to court far-right Polish government intended to do much more visible the tyranny of the Soviet Communist Party government that the massacres of the Nazis in World War II.

Contrary to what one might think Lech was not the dominant twin but his brother who is still alive Baroslaw who was not at the plane because he stayed with his mother aged 84, who was seriously ill in hospital. When Lech won the elections on the microphone said, addressing his brother: "mission accomplished chief" According to Professor Witold Malinowski, a specialist of the Pomeranian Academy of Medicine "The death of one twin for which is still alive is a huge trauma, emotional shock much stronger than can cause the death of a twin brother or sister, "according to AFP," The twin live it as an amputation.” "We must not forget that the twins were one being at the embryonic stage, before splitting into two separate beings,"

Definitely the ones who stole the moon have been and remain key players in the history of this country that gave birth 200 years ago to Fryderyk Franciszek Chopin.

THE KITE RUNNER BY KHALED HOSSEINI

By: Felipe Argote

Amir and Hassan are inseparable twelve year olds boys. They live in Kabul, Afghanistan, and if I had been asked I would say the story is set in the fifteenth century. But no, the story begins in 1975 in a society that seems to have been frozen in the middle age. Children, through their social differences by racial roots, enjoy their friendship but most of all enjoy the most popular activity of children in Kabul: flying kites. Indeed Amir is doing his best to win the annual kite competition, while Hassan only complies with help. Unknowingly Amir is the brother of Hassan, but although the first attending school, the second is illiterate. Both live in the land of his father Babb, but Amir lives in his big house while Hassan lives in a shack behind the house of his father, along with other household employees. While Amir has every opportunity to come in life, Hassan is one of the servants, so he must comply with all the household chores before going out to play with Amir who waits patiently enjoying some fruit of the season to climb together what they call the mountain where they recorded in a tree "Amir and Hassan: Sultans of Kabul." The reason for this difference is that Hassan is a Hazara a lower class, the product of a Babb´s relationship with a beautiful Hazara girl at his service after becoming widowed of Amir´s mother.

The Hazara are descendants of the Mongols of Genghis Khan, the legendary warrior who settled in the thirteenth century the largest contiguous empire in history and stranded in small nomadic groups after the disappearance of the empire. The Hazaras are no longer nomads but they are discriminated by the Pashtuns who have controlled Afghanistan for centuries. Hazara are chiítias, Pashtuns are Sunni the same as the Taliban. By the way, when Taliban got the power in Afghanistan in 1996, they banned kites because, according to them, were contrary to the Qur'an and it is a waste of time. This gives a greater connotation to the title and the development of the book.

The Kite Runner is a story of human misery. Starting by Amir, that despite the great friendship with his brother Hassan, he is not able to help him when he was raped by a sadistic teenager named Assef. This, despite the fact that it was a revenge because he had helped Amir giving an accurate stone in the eye to Assef with his slingshot, when he intended to give a beating to his brother with a group of his cronies. Then, feeling ashamed of his conduct, Amir invents a theft by Hassan to force him to be expelled from the land of his father, just because you cannot see his face after his cowardice. Hassan leaves, against the will of Babb who insists to forgive him for an act he didn’t committed since Amir did not do anything about it.

He then refers to the time of the Taliban, those religious zealots who have nothing to yearn for the Christians of Torquemada, or the Catholic Christian priests of our time. Assef reappears here, the same sadistic pervert as one of the Taliban commanders, using their religion to kill women stoned and to rape orphans. Nothing to envy the current Catholic Christians involved in child sexual abuse and protected by their superiors.

The Kite Runner is a deep book that makes you embarrassed to be part of humanity. Khaled Hosseini does not develop a story where at the end they all lived happily ever after in the style of Paul Coelho and Hollywood films. There are no perfect heroes but yes there are tyrants that make you feel hatred. The bad news is that the book doesn´t gives more hope than to go into exile and live in California.

Khaled Hosseini was born in Kabul, is in exile in California since the Russian invasion of Afghanistan. There he studied medicine. This is his first book.

MALINCHE OF LAURA ESQUIVEL

By: Felipe Argote

The book, despite claims that counts on the collaboration of historians, in some ways contradicts the generally accepted history of La Malinche, Malitzin or Mallinali, the daughter of Chimalpain a tribe chief and a beautiful young noble called Cimatl. According to Laura Esquivel Malinche was not even his name if not given to Hernan Cortez by the Nahuas because it means the owner of Mallinali. Additionally, the author contends that Doña Marina, as she was baptized by the Spanish, was a humble woman given to him by his mother as a child because she interfered in her new relationship after the death of her husband, and then being as a young woman gifted to Hernan Cortez for her new family. In the history described by Bernal Diaz del Castillo in "True History of the Conquest of New Spain", Mallinalli was given as an offering after the arrival of the Spanish to Mayan chiefs in Tabasco, after the defeat of the Nahua group which he belonged. These in turn gave to Cortez to be defeated by the Spanish in the Battle of Centla. In the tradition of the indigenous people of the time when nobles defeated princesses were given as evidence of peace. Bernal Diaz del Castillo was part of the expedition of Hernán Cortés, therefore I tend to believe more in their version than in that of Laura Esquivel.

I read Laura Esquivel's "Like Water for Chocolate", "Kingdom of Love" and the latter, Malinche. I confess that the first fascinated me. When I found out that she published a new book soon went to buy it and what I read disappoint me. “The Kingdom of Love” I could not finish it. This honestly did not seem as bad as the second but quite regular to say the least. Esquivel seems Spanish colonization was a fairy tale. He invented a love story, but reading his own book one notices that did not exist. Hernan Cortez fails to comply with the commitment and oath that the Spanish have no sexual abuse of indigenous women although they were distributed as slaves. Who can believe that? The great slaughter of Cholula, where Cortes met in a closed court to all the nobles and lords of the population to thank for weeks of attention they had given him and his men and massacred them by surprise first with muskets then tearing and dismembering them with swords. Not given the slightest opportunity to defend themselves as they had been disarmed. The Indians were unable to suspect such infamy. For them the war was noble. Spanish Savages used to kill betrayal. But according to Laura Esquivel this was justified by the fact that Cortez had received information that a Mexican army sent by the emperor was waiting outside, but by her own admission this was never confirmed. Of course it was not otherwise Cortes had not been two months after the slaughter at Cholula. The subsequent deaths of six thousand out of 30,000 people in the streets of Cholula surprised by those who were not considered their enemy, especially women and children was not made by the Spanish but by their allies Tlaxcala, according to Esquivel. Even more surprising is the claim that the epidemic of smallpox brought by the Spanish and made away with 97% of the population of the empire was not brought by the Spanish but by the slaves brought by the Spanish in Cuba. Incredible!

The wording seems to Malinche Spanish aid to the invasion of Tenochtitlan because of their religious differences for the human sacrifices of the Mexica and their worship of Quetzalcoatl. But Malinche was not Maya was so Mexica as Montezuma, the emperor of Tenochtitlan, as much of the people of Nahuatl language far south as what is now Costa Rica. Like most of the inhabitants of the empire was a descendant of those who came from Aztlan, which means marshy land that gives rise to the Aztec word that is also known the Aztecs and the Nahuatl language. If Cortes took Malinche as a concubine and kept his side was because she spoke the Mayan language for having been a slave of the Mayan of Tabasco, then Malinalli Tenépatl, which means the language Marina, her ability to speak two languages, translated from the Nahuatl to Maya and from Maya to Spanish was translated by Geronimo de Aguilar, a shipwrecked from ship Santa Maria de la Barca, who had survived the sinking and with other Spanish, Gonzalo Guerrero, had been integrated into the Mayan Indians. When Cortez reached the island of Cozumel learned of the existence of the shipwrecked Spanish. While Geronimo de Aguilar translated from Spanish to Maya, Malinche translated from Maya to her native language Nahuatl to Montezuma. Gonzalo Guerrero refused to return with the Spanish because he had married and had children. It is said that even he fought the Spanish.

The writing of  Malinche, by Laura Esquivel is often heavy because it stretches too much in bloom, in the metaphorical to the point of cloying. Sincerely Malinche reading I found it in a little torture, nothing to do with the very good "Like Water for Chocolate", although unlike "The law of love" was not so bad as to prevent the read of the entire book.

TOO LITTLE... TO LATE

By: Felipe Argote

The universal grant, which incidentally is not universal because it doesn’t includes the last three years of high school, I believe will bring more to stop juvenile crime curfews, than the so called the heavy hand or hand very hard. The voices now demand not to be universal and should be given only to those who do not fail to be a real incentive, do out of ignorance or naiveté, to assign them the benefit of the doubt.

Fifty-eight percent of young people drop out of the classroom and those who cannot snag as apprentice construction workers, stevedores, hornbills, packers not been paid of the super 99 or hawkers become easy prey to gangs.

The incentive cannot therefore be given only to those who have good grades or acceptable grades, the crisis is so deep that it must be delivered only to remain in the educational system, to divert youth from the streets and give them the opportunity to become workers with a level of self-esteem that they avoid the temptation of drugs and crime.

I go further; I think it should climb to $ 50 for second cycle or ten to twelve levels. This is the sector most likely and that more are leaving school and entering an age when their needs require a higher income. We know some will say that there should be greater controls to prevent parents seized the $20 and instead of applying them to pay school fees or food they will spend it in drink and play in the thousands of bars and casinos that abound in the popular neighborhoods. Well, there must be controls. But in the worst case, the father who selfishly require their child to study and stay in the educational system to take advantage of this incentive at least unwittingly, is helping his son. As Adam Smith would say: their selfish desire to benefit society.

But of course there must be some minimal checks. For example, the grant should be given to the mother and not to the father. In our society, it hurts to say, fathers are mostly a party of irresponsible. But rather than taking from those who do not score well you must rise to the good ones. That no doubt will have tangible benefits for society as a whole. In the developed capitalist countries basic education is really free. Without having the need, because in these countries most families have enough money to pay for the education of children, the state not only gives a quality education with well paid teachers, not like in our country where teaching sometimes is a refuge for those who do not have the capacity to fit into the labor market. They offers good schools, green areas, computers and sporting equipment, all books and notebooks, food and even free transport from home to school and from school to home. That's because they know they need to educate the new generations. They invest in the future and thereby save enforcement costs later in the crime. Because of that, among other things, they are developed country.

Those are some reasons why I believe that those who speak of paternalism are ignorant or deluded. Both the universal fellowship and the networking opportunities are measures that were not invented in Panama, It have already been used and proven effective in other countries. Such is the case in Brazil where it has been effective in many cases to break the cycle of poverty. I hope this measure, which is clearly too little, also has not come too late.

JUANITA CASTRO: THE BOOK

FIIDEL AND RAUL MY BROTHERS. THE SECRET HISTORY

By: Felipe Argote

I found very interesting the book of Juanita Castro, sister of Fidel and Raul Castro who lives in exile in Miami since 1963. After so long of his departure from the island is appealing his story that regardless of their ideological basis is entertaining, and above all I think, honestly. The book was written by journalist María Antonieta Collins on the testimony of Juanita Castro with the editor and publisher Aguilar published late last year. In some editions appears as "The Other History" while in others with more suggestive subtitle of "The Secret History."

Juanita talks about his childhood on the farm of his father, Angel Castro Argiz, a Spanish immigrant who had made a fortune as foreman transnational banana. He speaks of his six brothers and sisters, how young Fidel was very clear from his vocation of power, Raul Marxist militancy while Fidel ideologically moved as it suited his purposes. Juanita talks of his own experience as a CIA agent hired by the wife of Brazilian Ambassador to Cuba Virginia Leitao de Cunha and then his contact in the U.S. intelligence agency. His contact with the agent whose pen name was Henry, with whom he developed an almost filial relationship. Talk of his work in what was called "The Company", his pseudonym Donna, about Lewis Salvador his boss when it moved its operations from Mexico to Miami. Spoke in detail of his relationship with his brothers Fidel and his special relationship with her favorite brother Raul Castro.

Juanita admits that since the beginning of Fidel government she was conspiring with the remnants of the followers of Batista. Then directly as a CIA agent, who was handed a short-wave radio to communicate the secret places where he spent his instructions through the use of milk cans and beans, while she was still in Havana and worked to move people and hide weapons.

She speaks of his exile in Mexico, then in Miami always working for the CIA until during the Nixon administration the United States change its policy toward peaceful coexistence with the Soviet Union and literally sent to her the agent A and agent B to inform that her services were no longer needed and requested to cease its anti-Castro activities.

Then develops as he could survive without the funding from the CIA by establishing a small pharmacy with the help of financing from a bank whose vice president was a Cuban exile. Mini Price Pharmacy, the pharmacy she still personally manages.

He lamented how he was caught years later for selling drugs without prescription Tranxene specifically to an undercover agent as it was to come up with their bones to a prison in Miami when, despite all their activities in Cuba had never visited a prison if not to seek release of persecuted batiatanos posing as the sister of Fidel.

For the book I learned that Agustina, Fidel's younger sister, was married to Cuban singer Silvio Rodriguez and his son Silvio Rodriguez Raul Castro lives in exile in Orlando Florida along with his wife and children.

Juanita's book is a historical document from a primary source that seriously attempts to be fair on the information but does not hide from the antipathy felt to her brother Fidel and his special love for his brother Rau. Her obvious aim is protect the honor of the Castro family, his father, Angel Castro Argiz and his mother, Lina Ruz Gonzalez who are products of the second marriage of Aangel with a much younger woman. In fact, the seventh child of this union, Augustina, was born when his father was 62 years.

The way to tell the story, its mood, is like listening to a grandmother tells stories of old days. It reminds me of my own mother as Juanita hated Fidel as his personal enemy, but instead Juanita justified Raul only because he was her favorite brother.

ECONOMY AND FINANCE: THE NEOCLASICS

By: Felipe Argote

In the late ninth century begins the emergence of a stream of economic thought pattern that differs from generally accepted so far to try to establish the value of the goods in terms of their components and especially the work needed to produce them.

The difference arises initially from the work of Carl Menger who in his book published in 1871 "Theory of Political Economy" differs from the classics economists in search of the value of a product by calculating production costs and instead proposed that the value is given by the market in the utility the product gives to individuals. For this position distant from the classical thought that dominated the intelligentsia Menger was teased and his thought was called Austrian school at a time when Austria was recently defeated by the Prussian army. Then William Stanley Jevons published in the same year 1871 and without any relation with Menger his book "Theory of Political Economy." Jevons was born in Manchester England; he lived part of his life in Australia and became a teacher at the University of Manchester when he went back to England. He died young at age 47 years drowned in a spa where he went to get cured of his ailments.

Then Leon Walras a Frenchman born in Evreux in 1834, published in 1874 his book "Elements of Pure Economics" and finally Alfred Marshall, born in Cambridge, England, Professor of Political Economy, University of Cambridge in 1890 published his book "Principles of Economics" Among all separately and were cementing what became known as the marginalist theory and their contributions as much as some other economists named the neoclassical theory.

Carl Menger was the first to venture the thesis that should be discarded theory of value of Adam Smith, David Ricardo and Karl Marx, and consider the utility from demand. According to Menger value is merely the importance that the specific goods purchased for us by the fact that we know that the satisfaction of our needs that we have depends on them. Without saying so explicitly established the marginalist theory stating that a consumer seek to cover their needs by obtaining the highest satisfaction with the currency units available, so it can gain the latest monetary unit equal satisfaction than any other.

Leon Walras's contribution was to establish a systemic approach in which theoretically has an economy in constant balance through general equilibrium model.

Meanwhile William Jevons brings to the ideas of Menger the concept that the utility cannot be considered in absolute terms and instead uses mathematical procedures for calculating profit using as basis the value of use.

But this is not consolidated until the great contributions of Alfred Marshall. This professor from Cambridge was the founder of the economy known as the Cambridge school. Additionally it is considered the pioneer of welfare economics as it was explicit in stating that the ultimate goal of economics is to meet the needs of society as a whole. For many years his book "Principles of Economics" was the reference book about economics, more important in the world.

Marshall takes the marginal analysis, but unlike Jevons, Walras and Menger located not far from the value at the demand side, neither place it as the classic expression in the supply of labor value. By contrast, he cites the case of scissors. Explain that it is not important to determine if the cut of the paper was made by the two sharp blades or the force exerted on the handle. Set as the value of an asset in the balance of supply and demand and took the currency units to calculate marginalist approach within the same satisfaction to buyers and vendors. Then replace economic theory as a calculus of determining prices instead of labor value theory. Marshall is he who gives the scheme of supply and demand curves, breakeven and elasticity among others.

TAX REFORMS: WHO WINS ... WHO LOSES ...

By: Felipe Argote

After being signed and published in Official Gazette No. 26,489-A, on Monday, 15 March 2010, the new tax reform structured by the American firm McKinsey and Co. and driven tenaciously by the current Minister of Economy and Finance Alberto Vallarino, became Project 119, Act 8 . Resorting to the old system of our political class, discussion was held to light speed by avoiding the affected sectors and especially those whose traditional method say it is the street protests had any effect. Although the project was ready since December, was not published until late February and in less than two weeks, it was signed and published in the official gazette. This for the protests to be “kicks of drowning.”

In this post some sectors with advantages, others left with some superficial wounds and someone must pay the additional 200 million as the government admits its coffers will be affected in positive numbers.

WHO WINS

The big winners are the companies that were mostly disappear Alternative Calculation Income Tax (CAIR). Additionally, the law cut taxes from 2010 to 27.5% of income and 25% in 2011.

The fast food franchises also came out winning because unlike restaurants that sell alcoholic drinks to accompany meals, not pay taxes ITBMS

Employees who earn between $730 and $ 846 bill as it now entered the ranks of exempt from tax.

Employees and individuals who earn wages above the B/1000.00 will see their payments reduced income tax from a little over 76% to who earns less than 900.00 a month to just higher than 20% income top those who receives 9.000 dollars per month. For example an employee or individual who earned $1,000 dollars will pay B/427.50 on income tax. Before, he paid B/727.50. Someone who earns a monthly salary of $ 3,000 will pay nearly $ 3,000 less income tax.

Who loses?

At banks and exchange houses are turned up the tax but then he dropped a little in the discussion of the assembled deputies.

The boat owners have to pay new taxes ranging from $ 24 to $ 240 annually depending on the meters having his boat. 5.00 In addition to a navigation license obliged to carry on board all yachts, boats and motor boats for private use.

Legal persons having taxable income exceeding one million five hundred thousand dollars they will take the CAIR.

The unemployed, housewives, the self-employed, workers and all types of employees who earn less than they were already B/730.77 in the range that did not pay income tax but now will see an increase in tax paid transfer of movable property (ITBMS) by around 40%. Every time you buy an item such as clothing, shoes, toilet paper, toothbrush and so on have to pay more tax than you did before consumption. The government argues that this will be overcome by the universal fellowship which will benefit those with children. Besides this social group will pay an additional tax on the purchase of prepaid phone card is the most popular means of communication among low-income sectors.

The Indians, who have to pay airfare to exit their region,

Ther retirees could recover 30% of ITBMS payments as reimbursement to an annual amount of $ 50.

ADJUSTMENTS TO BILL 119 NOW ACT 8 OF 15 MARCH 2010

By: Felipe Argote

In my article published last week: "Summary of Tax Reforms 2010" I have structured the points that vary the original synthesis. It is possible that because the extensive of the document some modifications have been overlooked. I hope it's:

* Legal entities, pay on taxable net income calculated according to the method set:

• From l January 2010                       27.5%

• From 2011 and onwards                 25%

* Legal entities whose main activity is the generation and distribution of electricity; telecommunications services in general insurance, reinsurance, financial regulated by Law 42 of 2001, cement manufacturing, operation and management of games of chance and chance, mining in general and people who engage in the business of banking in Panama will pay income tax on net taxable income calculated by the method established the following rates:

• from January 1, 2010 30%

• Effective January 1, 2012                      27.5%

• Effective January 1, 2014                      25%

* Enterprises in which the state has a stake greater than forty percent (40%) of the shares will pay income tax at the rate of thirty percent (30%).

* Agricultural activities in respect of tax paid on income are greater than the sum of:

• Taxable net income calculated by the method prescribed in this Title, or

• Taxable net income resulting from applying to the total taxable income, the annual progressive rate follows:

o 2010 2%

o 2011 3%

o 2012 4%

o 2013 4.67%

* Contributions are levied in respect of entertainment expenses are subject to withholding of income tax as detailed below:

• Up B/.25, 000.00 pay 10%.

• Of more than B/.25, 000.00, pay B/.2, 500.00 for the first B/.25, 000.00 and a rate of 15% on the excess.

* Do not pay income tax natural persons or legal entities engaged in agricultural activities that have annual gross revenues under two hundred fifty thousand dollars.

* The banks and exchange houses will pay an annual tax as follows:

• Banks licensed general annual tax to total assets B/.l00 million B/.75, 000.00

• More than B / 100 million and up B/.200 million active B/.125, 000.00

• Over B/.200 million and up B/.300 million active B/.175, 000.00

• Over B/.300 million and up B/.400 million active B/.250, 000.00

• Over B/400 million and up B/.500 million active B/.375, 000.00

• Over B/.500 million and up B/.750 million active B/450, 000.00

• Over B/.750 million to B / 1,000 billion of assets B/.500, 000.00

• More than B / 1,000 million to B/.2, 000 billion of assets B/.700, 000.00

• Over B/.2, 000 billion of total assets B / 1,000,000.00

* During its first year of operations, the new general banking license will pay fifty percent of the annual tax referred to this section.

• The international banks licensed B/.75, 000.00

• Development banks and micro finance B/.30, 000.00

• Foreign exchange B/10, 000 dollars.

* Retirees and pensioners of the Social Security Fund will be entitled to claim a refund equal to thirty percent (30%) of the sums paid by way of ITBMS on each of the bills that are contributed to the Directorate General of Revenue up to a maximum of fifty dollars (B/.50.00) per year.

* Of the additional revenue collected by the tax increase physical movable Transfer and Servicing (ITBMS) provided in this Act, shall be financed, among others, the total cost of the Universal Fellowship Program for all students from first grade through ninth grade of formal schools and private schools in the country. For private schools, only apply for this state support, students in schools where the monthly pay for the guardian does not exceed B/.200.00.

* This Act shall take effect from 1 July 2010, except Articles 9 and 10 will enter into force on 1 January 2010 in terms of rates of income tax of natural persons and legal entities.

THE BOY IN THE STRIPED PAJAMAS

By: Felipe Argote

Bruno, the son of a Nazi officer moves with his mother, father and sister to a place away from the city, where his father has been ordered by the "furius" at a very important mission. It involves administering an activity that Bruno, 10 years old, does not understand very clearly but it is located far from the city, right behind a fence where a lot of sad looking people lives who have the amazing habit of walking in pajamas all day. The site is located far from Berlin, where Bruno has grown into a large and comfortable house. The house was so big that even Bruno had not explored all its nooks. And that what you most enjoy Bruno is explored. In fact he had already decided that he would be an explorer when he was older.

Bruno misses her home in Berlin located in a quiet street where there were many children. In Berlin, he could see people walking or taking on tables at the sidewalk where they chat and drink frothy. The people there should be very funny because whatever they said was celebrated with laughter, but lately also in Berlin people seemed nervous and unhappy. He missed Martin, Karl and Daniel his three best friends for life as they called each other.

But Bruno has no options. In the absence of homes and children in the surroundings and the very bad relationship with his older sister whose hatred was reciprocal. Bruno decides to develop long walks by alone by going to his ability as a scout. There was not much to do in the area where his new home. He decides to walk for hours along the fence of the people living in striped pajamas until a few kilometers he found behind the fence with a sad child dressed in pajamas with a shaved head which he befriends. Bruno finds in him many interesting aspects so he decide a daily walk toward the same distant point to talk long hours with his new friend having the fence in between. Thanks to his new friend whose name is Samuel, who despite being Polish talk fluent in German, he learns that his new housing is not in Germany but in Poland.

Until one day the boy invited him to go under the building near a crack in the earth where no adult could cross but a child of ten years can do it. To blend in with the population of striped pajamas, the boy gets one on his new German friend who blends into the other because his father had decided to peel it clipped to get rid of a nest of lice that had settled in her hair

John Boyne is an Irish writer born in Dublin, Ireland in 1971. Before "The boy in the Striped Pajamas” he had written “The Thief of Time”, ”The Congress of Rough Riders”, “Crippen and Next of Kin”, yet the latter has been his greatest success undoubtedly. The novel has a lot of originality and imagination although at times seems to deviate from the central theme and introduce elements that seem to lead to side stories that are then unfinished. The boy in the Striped Pajamas is a book I recommend for its human message, especially the stupidity of war and how they can hurt people we love most, by not taking into account that the supposed enemy also has a family, wife and children who have more pain and suffering in the conflagrations.

SUMMARY OF THE 2010 FISCAL REFORMS

By: Felipe Argote

For the analysis and consideration I present a synthesis that I have elaborated on the Bill 119 that amends the tax code:

• Eliminate the Alternative Calculation of income tax for all individuals and ninety-five (95%) of legal persons.

• Legal entities will pay income tax on net taxable income tax rate to the following general

• from 1 July 2010 or pay 27.5%

• 2011 and later pay 25%

• Legal entities whose main activity is the generation and distribution of electricity; telecommunications services in general insurance, reinsurance, financial, cement manufacturing, mining in general and those engaged in the banking business in Panama and call centers will pay income tax at a rate of thirty percent (30%) Net income

• Legal persons whose taxable income exceeds one million five hundred thousand dollars per year, paid as a tax on income, the higher amount that is between:

l. Taxable net income calculated by the common method, or

2. Taxable net income resulting from applying to the total taxable income, four point sixty-seven per cent (4.67%).

• Individuals pay income tax on their annual income as the tax is as follows:

• Up B/.11,000.00 pay 0%

• or more than B/.11,000.00 to B/.50, 000.00 pay 15% by surplus B/.11, 000.00 to B/.50, 000.00

• more than B/.50, 000.00 pay B/.5,850.00 for the first B/.50, 000.00 and a rate of 25% of the excess B/.50, 000.00

• Significant changes are introduced to the concept of taxable income, in particular how the expenses are recognized and deductibles.

• It clarified several basic concepts for determining the dividend tax.

• The representation expenses, ISR will pay as follows:

• Up B/.25, 000.00 paid 10%.

• more than B/.25, 000.00, pay B/.2, 500.00 for the first B/.25, 000.00 and a rate of 15% on the surplus until B/.50, 000.00.

• more than B/.50, 000.00, pay B/.6, 250.00 for the first B/.50, 000.00 and a rate of 25% on the excess.

• Do not cause the tax:

• income of natural persons or legal entities engaged in agricultural activities that have annual gross revenues under one hundred and fifty thousand dollars (B/.150, 000.00)

• natural persons engaged in occupations or activities independently, with gross receipts in the respective fiscal period, amount to no more than eleven thousand dollars (B/.11, 000.00)

• Legal persons or companies established or being established in the Colon Free Zone or any other free zone or area established or to be created in the future, are required to withhold tax on dividend or share of five percent (5%) of profits to distribute to their shareholders when they are coming from:

o Panamanian source or internal or local or operations;

o external source or foreign or export operations, and

o income exempt from income tax,

• The combined alternative progressive rate of this tax is as follows:

o 0.75% on the taxable excess of thirty thousand dollars (B/30,000.00) to one hundred thousand dollars (B/100,000.00).

o 1% on the taxable amount over one hundred thousand dollars (B/.1 00,000.00).

• Banking institutions regulated by Decree Law 9 of 1998, will pay an annual tax as follows:

• banks licensed General Annual Tax

• Up B / Ser.L total assets 00 million B / .IOO, ooo.oo

• More than B/.1OO million and up B/.200 million active B/.150, 000.00

• More than B/.200 million and up B/.300 million active B/.200, 000.00

• More than B/.300 million and up B/.400 million active B/.350, 000.00

• More than B/.400 million and up B/.500 million active B/.500, 000.00

• More than B/.500 million and up B/.750 million active B/.600, 000.00

• More than B/.750 million to B / Ser.L, OOO million active B/.650, 000.00

• More than B1, OOO million B/.700 total assets, 000.00

• Licensed Banks International B/.75, 000.00

• Development Banks and Micro Finance B/.30, 000.00

• The Exchange houses B / .IO, ooo.oo

• The boats, yachts or private use motorboats engaged in water courts of the Republic of Panama must obtain and carry on board a navigation license to be issued by the Directorate General of Merchant Marine of Panama Maritime Authority. The cost of issuing this document and its extensions shall be five dollars (B/.5.00).

• Owners of boats, yachts or motorboats engaged in private use will pay the following annual rates:

• Up to 6 meters in length B/.24.00

• or older from 6 to 10 meters in length B/.120.00

• or above 10 meters B/.240.00

• The ITBMS rate is seven percent (7%). To those who currently pay the tax are added:

• or public entertainment, events, seminars, conferences, lectures, presentations of artistic or musical groups, artists, singers, performers, sports professionals and professionals in general, not free.

• The air travel locally and internationally.

• or hosting service or public accommodation.

• Excise Tax

In the cases described below the following fees apply to this tax:

• l. The import, sale, wholesale and retail of alcoholic beverages, which will have a rate of ten percent (10%).

• The import, sale, wholesale and retail of products derived from snuff, will have a fee of fifteen percent (15%).

• Hosting service or accommodation in all modes of public causes a rate of ten percent (10%).

• The selective tax rate of soft drink consumption is five percent (5%) of ten percent (10%) for syrups, syrups or concentrates used for the production of soft drinks.

• Motor vehicles land whose CIF value not exceeding B/.20, 000.00: 18%.

• Motor vehicles land whose value exceeds B/.20 CIF, 000.00 but not exceeding B/.25, 000.00: 23%.

• Motor vehicles land whose value exceeds B/.25 CIF, 000.00: 25%.

• Electrical Motor vehicles, land for transportation of persons irrespective of CIF value: 5%.

• Vehicles equipped for use by persons with disabilities: 5%.

• Motor vehicles regardless of their mixed land CIF value: 10%.

• Motor vehicles land for commercial transport of cargo: 10%.

• Motor vehicles for land passenger transport: 10%.

• Road tractors for semi-trailers: 10%.

• Motorcycles for two or more wheels with engine capacity over 125cc, outboard engines over 75 cc displacement, yachts, sailboats, ships and vessels for pleasure or sport, personal watercraft (jet-skies) ships, aircraft and helicopters noncommercial use: 10%.

• Jewelry & Guns: 10%.

• The services of cable television, microwave, satellite and mobile telephony: 5%.

• Prizes greater than three hundred dollars (B/.300.00) won the slots: 7%

• not be deemed taxpayers of this tax producers, traders and service providers whose gross annual income is less than thirty-six thousand dollars (B/.36, 000.00).

• The current traffic Panamanian currency, in denominations of one, two and five dollars will bimetallic

• Create Tax Administrative Tribunal as being independent and impartial, which has jurisdiction throughout the territory of the Republic. This Court has jurisdiction to hear appeals that arise within the procedures or processes originating from the Department of Revenue, Ministry of Economy and Finance.

• The Tribunal will consist of three (3) lawyers, who are appointed by the President of the Republic with their alternates, who will have the same pay as the judges of the Superior Courts of Justice.

INTERNATIONAL WOMEN´S DAY

By Felipe Argote

On March 8 each year marks the International Women's Day. The creation of this day was started on a proposal from the German Clara Zetkin on 19 March 1910. Then it changed to March 25 in commemoration of the death of a group of women because of the terrible working conditions in the Triangle garment factory in New York. The poor conditions were the primary responsibility for a fire which killed large numbers of textile women workers. But it was finally agreed on March 8 to commemorate the strike by Russian women developed for bread and peace on the last Sunday of February. This was the beginning of four days after the fall of Czar Nicholas II and the adoption days after the suffrage of women in parliament. This is developing on 23 February on the Julian calendar that was used in Russia at that time. This is the March 8 current Gregorian calendar

Also refers to the March 8, 1908 when 146 women from the Cotton Factory in New York were burned to death after they were firebombs thrown at them to force them to leave the factory that had been taken to demand better working conditions.

Women have been fighting for years for equality. The first country to recognize the right of women to elect and be elected was New Zealand in 1892, and then did Australia in 1902 and Finland in 1906. In the United States is given the vote to women in 1920. Keep in mind that this right to vote was limited to white women. Not until 1966, allowing the vote to afro Americans, including afro american women.

In Latin America the first woman to exercise the right to vote was the doctor who took advantage Matilde Hidalgo did not establish that the constitution expressly prohibits women's suffrage was presented to register to the surprise of the electoral jury. He was allowed entry under the premise that should be subject to consultation. This was finally settled in favor of Dr. Hill so she became the first Latin American woman to exercise the right to vote. In 1933 elections she was elected deputy.

In Panama the struggle for suffrage was championed by the National Feminist Party formed among others by Clara Gonzalez, Sara Sotillo, Enriqueta Morales, Sara Barrera, Rosa Navas and Elida Campodónico. Clara Gonzalez was the first Latin American woman to receive a doctorate degree in law. After much struggle to get the vote for women they got it in 1945.

Currently there are countries where women do not have the right to exercise the vote. Such is the case of Saudi Arabia, Brunei, where men have no right to vote also, Lebanon, where women require elementary education to vote but not the men whose vote is obligatory. Nor have the vote for women in the United Arab Emirates and the VatiCAN.