In His Essay, Dustin Crummett Explains Part of What Is

question 12

Essay

In his essay, Dustin Crummett explains part of what is involved in the social egalitarian picture. He says:
When it comes to power relations, egalitarians generally support making them reciprocal where possible, so that no one has unaccountable power over another. … Where this reciprocity isn't feasible-as may be the case with, say, a sergeant and a private-egalitarians still insist that the authority possessed by the superior must be justified in terms of the general good, and must be only that which is necessary to promote that good.
Clearly, Crummett believes that people in power should be held accountable and that power can be justified when it promotes the common good. In your essay, offer a description of what it would look like to make sure that people in power are held accountable. Then, explain what would be involved in checking to see if power does, in fact, uphold the general good. Finally, consider whether the processes you've described are implementable in real-world cases. Briefly consider, does your description complicate or support Crummett's picture?

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Definitions:

AASB 136

The Australian Accounting Standards Board standard that details the accounting treatment for impairments of assets.

Impairment

The action of or situation where the value of an asset is corrected downwards in the company's books to reflect a loss in value, ensuring the asset's recorded cost does not exceed its recoverable amount.

Issued Capital

The total value of a company's shares that have been issued to shareholders, representing the equity funding provided by shareholders.

Retained Earnings

Represents the cumulative amount of net income that a company has not distributed to its shareholders as dividends but retained for reinvestment in the business.