Financial Statement Analysis

Financial Statement Analysis Financial performance, as a part of financial management, is the main indicator of the success or failure of the companies. Financial performance analysis can be considered as the heart of the financial decisions. Rational evaluation of the performance of the companies is essential to prepare sound financial policies and to attract potential investors. Shareholders are interested in EPS, dividend, net worth and market value per share. Management is interested in all aspects of financial performance to adopt a good financial management system and for the internal control of the company. The creditors are primarily interested in the liquidity of the company. Government is interested from the regulatory point of view. Besides, other stakeholders such as economists, trade associations, competitors, etc are also interested in the financial performance of the company. Therefore, all the stakeholders are interested in the performance of the companies but their perspective may be different. Financial analysis helps to highlight the financial performance of the company. It is the process of identifying the financial strength and weakness of a firm by properly establishing the relationship between the items on the Balance Sheet and those on the Profit and Loss Account (Pandey 1992, p109). It is a general term referring to the process of extracting and studying information in financial statements for use in management decision making, for example, financial analysis typically involves the use of ratios, comparison with prior periods and budget, and other such procedures. Financial appraisal is a scientific evaluation of the profitability and strength of any business concerns (Jain 1996, p36). It seeks to spotlight the significant impacts and relationships concerning managerial performance, corporate efficiency, financial strength and weakness and creditworthiness of the company (Srivastava 1985, p59). The objective of financial analysis is a detailed cause and effect study of the profitability and financial position (Hingorani and Ramnthan 1992). According to Hampton, â€Å"Financial Analysis is the process of determining the significant operating and financial characteristics of a firm from accounting data and financial statement. The goal of such analysis is to determine the efficiency and performance of the firms management, as reflected in the financial records and reports†(Hampton 1986, p85). Financial statements are such records and reports, which contain the data required for performance management. It is therefore important to analyze the financial statements to identify the strengths and weaknesses of the company. The financial statements of a business enterprise are intended to provide much of the basic data used for decision making, and in general, evaluation of performance by various groups such as current owners, potential investors, creditors, government agencies, and in some instance, competitors (Benjamin et al 1975, p412). Financial statements are the reports in which the accountant summarizes and communicates the basic financial data. The financial statements provide the summary of a accounts of the company- the Balance Sheet reflecting the assets, liabilities and capital as of a certain date and the Profit and Loss Account showing the results of operation during a period. The financial statements are a collection of data organized according to logical and consistent accounting procedures (Hampton 1986, p85). The function of financial statement is to convey an understanding of some financial aspects of the company. Financial statement analysis involves appraising the financial statement and related footnotes of an entity. This may be done by accountants, investment analysts, credit analysts, management and other interested parties. Financial statements indicate an appraisal of a companys previous financial performance and its future potential (Shim and Siegel 1989, p197). The analysis of a financial statement is done to obtain a better insight into a firms position and performance (Munakarmi 2000). Analyzing a financial statement is a process of evaluating the relationship between component parts of financial statement to obtain a better understanding of the firms position and performance (Metcalf and Titard 1976, p157). The financial analysis is thus the analysis of the financial statements, which is done to evaluate the performance of the company. Ratio Analysis, Trend Analysis, Comparative Financial Statement Analysis and Common Size Statement Analysis are the major tools of the financial an alysis. Financial statement analysis involves the computation of ratios to evaluate a companys financial position and results of operation (Shim and Siegel 1989, p196). Ratio is an important tool of financial statement analysis. The relationship between two accounting figures, expressed mathematically is known as financial ratio (Pandey 1992, p110). â€Å"Ratio used as an index of yardstick for evaluating the financial position and performance of the firm. It helps analysts to make a quantitative judgement about the financial position and performance of the firm. It uses financial reports and data and summarizes the key relationship in order to appraise financial performance (Munakarmi 2000). Ratio analysis is such a powerful tools of financial analysis that through it, the economic and financial position of a business unit can be fully x-rayed. Ratios are just a convenient way to summarize large quantities of financial data and to compare the performance of the firms (Brealey and Myeres 20 03). Ratios are exceptionally useful tools with which one can judge the financial performance of the firm over a period of time (Srivastava 1985, p63). Performance ratio can provide an insight into a banks profitability, return on investment, capital adequacy and liquidity (Clark 1999, p257). The above theories suggest that financial analysis helps to measure the performance of the companies. Different analysts desire different types of ratios, depending largely on whom the analysts are and why the firm is being evaluated. Short-term creditors are concerned with the firms ability to pay its bills promptly. In the short run, the amount of liquid assets determines the ability to pay off current liabilities. They are interested in liquidity. Long-terms creditors hold bonds or debentures; mortgages against the firm are interested in current payment of interest and the eventual repayment of the principal. The company must be sufficiently liquid in the short-term and have adequate profits for the long-term. They examine liquidity and the profitability. Stockholders, in addition to liquidity and profitability, are concerned about the policies of the firms stock. Without liquidity, the firm could not pay the cash dividends. Without profits, the firm could not be able to declare d ividends. With poor policies, the common stock would trade at a lower price in the market (Hampton 1986, p124). Analysis of the financial statement of a company for one year or for a shorter period would not truly reflect the nature of its operations. For this, it is essential that the analysis reasonably cover a longer period. The analysis made over a longer period is termed as Trend Analysis. Trend Analysis of the ratio indicates the direction of change (Pandey 1992, p51). This method involves the calculation of percentage relationship that each item bears to the same item in the base year. Trend percentage discloses the changes in the financial and operating data between specific periods and makes it possible to form an opinion as to whether favourable and unfavourable tendencies are reflected by the data. Comparative Statement Analysis is another method of measuring the performance of the company. It is used to compare the performance and position of the firm with the average performance of the industry or with other firms, such a comparison will identify areas of weakness which can then b e addressed to rectify the situation. From the above discussion, it is clear that performance is the result of various financials variables. Analysis of performance is not limited to analyzing one or two variable(s). it could be analyzed with the help of various financial indicators. Most of the studies, however, devoted to measure the performance in terms of profitability, stock returns, and turnover, risk adjusted returns on investment, dividends, growth of sales, market capitalization. Analyzing stock return constitutes market price per share and dividend per share. The trend of such variables over the period and comparison of the results with the results of the same variables of another firm or another industry indicates the relative performance of the firm or industry.

Foundation and Empire 14. The Mutant

The â€Å"hangar† on Kalgan is an institution peculiar unto itself, born of the need for the disposition of the vast number of ships brought in by the visitors from abroad, and the simultaneous and consequent vast need for living accommodations for the same. The original bright one who had thought of the obvious solution had quickly become a millionaire. His heirs – by birth or finance – were easily among the richest on Kalgan. The â€Å"hangar† spreads fatly over square miles of territory, and â€Å"hangar† does not describe it at all sufficiently. It is essentially a hotel – for ships. The traveler pays in advance and his ship is awarded a berth from which it can take off into space at any desired moment. The visitor then lives in his ship as always. The ordinary hotel services such as the replacement of food and medical supplies at special rates, simple servicing of the ship itself, special intra-Kalgan transportation for a nominal sum are to be had, of course. As a result, the visitor combines hangar space and hotel bill into one, at a saving. The owners sell temporary use of ground space at ample profits. The government collects huge taxes. Everyone has fun. Nobody loses. Simple! The man who made his way down the shadow-borders of the wide corridors that connected the multitudinous wings of the â€Å"hangar† had in the past speculated on the novelty and usefulness of the system described above, but these were reflections for idle moments – distinctly unsuitable at present. The ships hulked in their height and breadth down the long lines of carefully aligned cells, and the man discarded line after line. He was an expert at what he was doing now and if his preliminary study of the hangar registry had failed to give specific information beyond the doubtful indication of a specific wing – one containing hundreds of ships – his specialized knowledge could winnow those hundreds into one. There was the ghost of a sigh in the silence, as the man stopped and faded down one of the lines; a crawling insect beneath the notice of the arrogant metal monsters that rested there. Here and there the sparkling of light from a porthole would indicate the presence of an early returner from the organized pleasures to simpler – or more private – pleasures of his own. The man halted, and would have smiled if he ever smiled. Certainly the convolutions of his brain performed the mental equivalent of a smile. The ship he stopped at was sleek and obviously fast. The peculiarity of its design was what he wanted. It was not a usual model – and these days most of the ships of this quadrant of the Galaxy either imitated Foundation design or were built by Foundation technicians. But this was special. This was a Foundation ship – if only because of the tiny bulges in the skin that were the nodes of the protective screen that only a Foundation ship could possess. There were other indications, too. The man felt no hesitation. The electronic barrier strung across the line of the ships as a concession to privacy on the part of the management was not at all important to him. It parted easily, and without activating the alarm, at the use of the very special neutralizing force he had at his disposal. So the first knowledge within the ship of the intruder without was the casual and almost friendly signal of the muted buzzer in the ship's living room that was the result of a palm placed over the little photocell just one side of the main air lock. And while that successful search went on, Toran and Bayta felt only the most precarious security within the steel walls of the Bayta. The Mule's clown who had reported that within his narrow compass of body he held the lordly name of Magnifico Giganticus, sat hunched over the table and gobbled at the food set before him. His sad, brown eyes lifted from his meat only to follow Bayta's movements in the combined kitchen and larder where he ate. â€Å"The thanks of a weak one are of but little value,† he muttered, â€Å"but you have them, for truly, in this past week, little but scraps have come my way – and for all my body is small, yet is my appetite unseemly great.† â€Å"Well, then, eat!† said Bayta, with a smile. â€Å"Don't waste your time on thanks. Isn't there a Central Galaxy proverb about gratitude that I once heard?† â€Å"Truly there is, my lady. For a wise man, I have been told, once said, ‘Gratitude is best and most effective when it does not evaporate itself in empty phrases.' But alas, my lady, I am but a mass of empty phrases, it would seem. When my empty phrases pleased the Mule, it brought me a court dress, and a grand name – for, see you, it was originally simply Bobo, one that pleases him not – and then when my empty phrases pleased him not, it would bring upon my poor bones beatings and whippings.† Toran entered from the pilot room, â€Å"Nothing to do now but wait, Bay. I hope the Mule is capable of understanding that a Foundation ship is Foundation territory.† Magnifico Giganticus, once Bobo, opened his eyes wide and exclaimed, â€Å"How great is the Foundation before which even the cruel servants of the Mule tremble.† â€Å"Have you heard of the Foundation, too?† asked Bayta, with a little smile. â€Å"And who has not?† Magnifico's voice was a mysterious whisper. â€Å"There are those who say it is a world of great magic, of fires that can consume planets, and secrets of mighty strength. They say that not the highest nobility of the Galaxy could achieve the honor and deference considered only the natural due of a simple man who could say ‘I am a citizen of the Foundation,' – were he only a salvage miner of space, or a nothing like myself.† Bayta said, â€Å"Now, Magnifico, you'll never finish if you make speeches. Here, I'll get you a little flavored milk. It's good.† She placed a pitcher of it upon the table and motioned Toran out of the room. â€Å"Torie, what are we going to do now – about him?† and she motioned towards the kitchen. â€Å"How do you mean?† â€Å"If the Mule comes, are we going to give him up?† â€Å"Well, what else, Bay?† He sounded harassed, and the gesture with which he shoved back the moist curl upon his forehead testified to that. He continued impatiently, â€Å"Before I came here I had a sort of vague idea that all we had to do was to ask for the Mule, and then get down to business – just business, you know, nothing definite.† â€Å"I know what you mean, Torie. I wasn't much hoping to see the Mule myself, but I did think we could pick up some firsthand knowledge of the mess, and then pass it over to people who know a little more about this interstellar intrigue. I'm no storybook spy.† â€Å"You're not behind me, Bay.† He folded his arms and frowned. â€Å"What a situation! You'd never know there was a person like the Mule, except for this last queer break. Do you suppose he'll come for his clown?† Bayta looked up at him. â€Å"I don't know that I want him to. I don't know what to say or do. Do you?† The inner buzzer sounded with its intermittent burring noise. Bayta's lips moved wordlessly, â€Å"The Mule!† Magnifico was in the doorway, eyes wide, his voice a whimper, â€Å"The Mule?† Toran murmured, â€Å"I've got to let them in.† A contact opened the air lock and the outer door closed behind the newcomer. The scanner showed only a single shadowed figure. â€Å"It's only one person,† said Toran, with open relief, and his voice was almost shaky as he bent toward the signal tube, â€Å"Who are you?† â€Å"You'd better let me in and find out, hadn't you?† The words came thinly out the receiver. â€Å"I'll inform you that this is a Foundation ship and consequently Foundation territory by international treaty.† â€Å"I know that.† â€Å"Come with your arms free, or I'll shoot. I'm well-armed.† â€Å"Done!† Toran opened the inner door and closed contact on his blast pistol, thumb hovering over the pressure point. There was the sound of footsteps and then the door swung open, and Magnifico cried out, â€Å"It's not the Mule. It's but a man.† The â€Å"man† bowed to the clown somberly, â€Å"Very accurate. I'm not the Mule.† He held his hands apart, â€Å"I'm not armed, and I come on a peaceful errand. You might relax and put the blast pistol away. Your hand isn't steady enough for my peace of mind.† â€Å"Who are you?† asked Toran, brusquely. â€Å"I might ask you that,† said the stranger, coolly, â€Å"since you're the one under false pretenses, not I.† â€Å"How so?† â€Å"You're the one who claims to be a Foundation citizen when there's not an authorized Trader on the planet.† â€Å"That's not so. How would you know?† â€Å"Because I am a Foundation citizen, and have my papers to prove it. Where are yours?† â€Å"I think you'd better get out.† â€Å"I think not. If you know anything about Foundation methods, and despite your imposture you might, you'd know that if I don't return alive to my ship at a specified time, there'll be a signal at the nearest Foundation headquarters so I doubt if your weapons will have much effect, practically speaking.† There was an irresolute silence and then Bayta said, calmly, â€Å"Put the blaster away, Toran, and take him at face value. He sounds like the real thing.† â€Å"Thank you,† said the stranger. Toran put his gun on the chair beside him, â€Å"Suppose you explain all this now.† The stranger remained standing. He was long of bone and large of limb. His face consisted of hard flat planes and it was somehow evident that he never smiled. But his eyes lacked hardness. He said, â€Å"News travels quickly, especially when it is apparently beyond belief. I don't suppose there's a person on Kalgan who doesn't know that the Mule's men were kicked in the teeth today by two tourists from the Foundation. I knew of the important details before evening, and, as I said, there are no Foundation tourists aside from myself on the planet. We know about those things.† â€Å"Who are the ‘we'?† â€Å"‘We' are – ‘we'! Myself for one! I knew you were at the Hangar – you had been overheard to say so. I had my ways of checking the registry, and my ways of finding the ship.† He turned to Bayta suddenly, â€Å"You're from the Foundation – by birth, aren't you?† â€Å"Am I?† â€Å"You're a member of the democratic opposition – they call it ‘the underground.' I don't remember your name, but I do the face. You got out only recently – and wouldn't have if you were more important.† Bayta shrugged, â€Å"You know a lot.† â€Å"I do. You escaped with a man. That one?† â€Å"Does it matter what I say?† â€Å"No. I merely want a thorough mutual understanding. I believe that the password during the week you left so hastily was ‘Seldon, Hardin, and Freedom.' Porfirat Hart was your section leader. â€Å" â€Å"Where'd you get that?† Bayta was suddenly fierce. â€Å"Did the police get him?† Toran held her back, but she shook herself loose and advanced. The man from the Foundation said quietly, â€Å"Nobody has him. It's just that the underground spreads widely and in queer places. I'm Captain Han Pritcher of Information, and I'm a section leader myself – never mind under what name.† He waited, then said, â€Å"No, you don't have to believe me. In our business it is better to overdo suspicion than the opposite. But I'd better get past the preliminaries.† â€Å"Yes,† said Toran, â€Å"suppose you do.† â€Å"May I sit down? Thanks.† Captain Pritcher swung a long leg across his knee and let an arm swing loose over the back of the chair. â€Å"I'll start out by saying that I don't know what all this is about – from your angle. You two aren't from the Foundation, but it's not a hard guess that you're from one of the independent Trading worlds. That doesn't bother me overmuch. But out of curiosity, what do you want with that fellow, that clown you snatched to safety? You're risking your life to hold on to him.† â€Å"I can't tell you that.† â€Å"Hm-m-m. Well, I didn't think you would. But if you're waiting for the Mule himself to come behind a fanfarade of horns, drums, and electric organs – relax! The Mule doesn't work that way.† â€Å"What?† It came from both Toran and Bayta, and in the comer where Magnifico lurked with ears almost visibly expanded, there was a sudden joyful start. â€Å"That's right. I've been trying to contact him myself, and doing a rather more thorough job of it than you two amateurs can. It won't work. The man makes no personal appearance, does not allow himself to be photographed or simulated, and is seen only by his most intimate associates.† â€Å"Is that supposed to explain your interest in us, captain?† questioned Toran. â€Å"No. That clown is the key. That clown is one of the very few that have seen him. I want him. He may be the proof I need – and I need something, Galaxy knows – to awaken the Foundation.† â€Å"It needs awakening?† broke in Bayta with sudden sharpness. â€Å"Against what? And in what role do you act as alarm, that of rebel democrat or of secret police and provocateur?† The captain's face set in its hard lines. â€Å"When the entire Foundation is threatened, Madame Revolutionary, both democrats and tyrants perish. Let us save the tyrants from a greater, that we may overthrow them in their turn.† â€Å"Who's the greater tyrant you speak of?† flared Bayta. â€Å"The Mule! I know a bit about him, enough to have been my death several times over already, if I had moved less nimbly. Send the clown out of the room. This will require privacy.† â€Å"Magnifico,† said Bayta, with a gesture, and the clown left without a sound. The captain's voice was grave and intense, and low enough so that Toran and Bayta drew close. He said, â€Å"The Mule is a shrewd operator – far too shrewd not to realize the advantage of the magnetism and glamour of personal leadership. If he gives that up, it's for a reason. That reason must be the fact that personal contact would reveal something that is of overwhelming importance not to reveal.† He waved aside questions, and continued more quickly, â€Å"I went back to his birthplace for this, and questioned people who for their knowledge will not live long. Few enough are still alive. They remember the baby born thirty years before – the death of his mother – his strange youth. The Mule is not a human being!† And his two listeners drew back in horror at the misty implications. Neither understood, fully or clearly, but the menace of the phrase was definite. The captain continued, â€Å"He is a mutant, and obviously from his subsequent career, a highly successful one. I don't know his powers or the exact extent to which he is what our thrillers would call a ‘superman,' but the rise from nothing to the conqueror of Kalgan's warlord in two years is revealing. You see, don't you, the danger? Can a genetic accident of unpredictable biological properties be taken into account in the Seldon plan?† Slowly, Bayta spoke, â€Å"I don't believe it. This is some sort of complicated trickery. Why didn't the Mule's men kill us when they could have, if he's a superman?† â€Å"I told you that I don't know the extent of his mutation. He may not be ready, yet, for the Foundation, and it would be a sign of the greatest wisdom to resist provocation until ready. Now let me speak to the clown.† The captain faced the trembling Magnifico, who obviously distrusted this huge, hard man who faced him. The captain began slowly, â€Å"Have you seen the Mule with your own eyes?† â€Å"I have but too well, respected sir. And felt the weight of his arm with my own body as well.† â€Å"I have no doubt of that. Can you describe him?† â€Å"It is frightening to recall him, respected sir. He is a man of mighty frame. Against him, even you would be but a spindling. His hair is of a burning crimson, and with all my strength and weight I could not pull down his arm, once extended – not a hair's thickness.† Magnifico's thinness seemed to collapse upon itself in a huddle of arms and legs. â€Å"Often, to amuse his generals or to amuse only himself, he would suspend me by one finger in my belt from a fearful height, while I chattered poetry. It was only after the twentieth verse that I was withdrawn, and each improvised and each a perfect rhyme, or else start over. He is a man of overpowering might, respected sir, and cruel in the use of his power – and his eyes, respected sir, no one sees.† â€Å"What? What's that last?† â€Å"He wears spectacles, respected sir, of a curious nature. It is said that they are opaque and that he sees by a powerful magic that far transcends human powers. I have heard,† and his voice was small and mysterious, â€Å"that to see his eyes is to see death; that he kills with his eyes, respected sir.† Magnifico's eyes wheeled quickly from one watching face to another. He quavered, â€Å"It is true. As I live, it is true. â€Å" Bayta drew a long breath, â€Å"Sounds like you're right, captain. Do you want to take over?† â€Å"Well, let's look at the situation. You don't owe anything here? The hangar's barrier above is free?† â€Å"I can leave any time.† â€Å"Then leave. The Mule may not wish to antagonize the Foundation, but he runs a frightful risk in letting Magnifico get away. It probably accounts for the hue and cry after the poor devil in the first place. So there may be ships waiting for you upstairs. If you're lost in space, who's to pin the crime?† â€Å"You're right,† agreed Toran, bleakly. â€Å"However, you've got a shield and you're probably speedier than anything they've got, so as soon as you're clear of the atmosphere make the circle in neutral to the other hemisphere, then just cut a track outwards at top acceleration.† â€Å"Yes,† said Bayta coldly, â€Å"and when we are back on the Foundation, what then, captain?† â€Å"Why, you are then co-operative citizens of Kalgan, are you not? I know nothing to the contrary, do I?† Nothing was said. Toran turned to the controls. There was an imperceptible lurch. It was when Toran had left Kalgan sufficiently far in the rear to attempt his first interstellar jump, that Captain Pritcher's face first creased slightly – for no ship of the Mule had in any way attempted to bar their leaving. â€Å"Looks like he's letting us carry off Magnifico,† said Toran. â€Å"Not so good for your story.† â€Å"Unless,† corrected the captain, â€Å"he wants us to carry him off, in which case it's not so good for the Foundation.† It was after the last jump, when within neutral-flight distance of the Foundation, that the first hyperwave news broadcast reached the ship. And there was one news item barely mentioned. It seemed that a warlord – unidentified by the bored speaker – had made representations to the Foundation concerning the forceful abduction of a member of his court. The announcer went on to the sports news. Captain Pritcher said icily, â€Å"He's one step ahead of us after all.† Thoughtfully, he added, â€Å"He's ready for the Foundation, and he uses this as an excuse for action. It makes things more difficult for us. We will have to act before we are really ready.†

The Importance Of Love In Cry The Beloved Country By Alan...

Nelson Mandela, a famous equality activist from South Africa, once said â€Å"No one is born hating another person because of the color of his skin, or his background, or his religion †¦ if they can learn to hate, they can be taught to love.† When you are born you know nothing but love, unless you are taught otherwise. Hate is a characteristic that can be changed to love through becoming understanding and empathetic to all people. Arthur Jarvis, a white civil rights activist who was shot and killed in his home and Msimangu a Native priest of South Africa work in their communities to promote love and equality. In Cry the Beloved Country, author Alan Paton uses characters Msimangu and Arthur Jarvis to show how love and outspokenness can start the†¦show more content†¦Love within a community builds unity and eliminates hate; it heals all things. On the other hand, Arthur Jarvis fights for the natives of South Africa, because he knows there should be justice and equality for all. Arthur Jarvis wrote in his book before he was killed, â€Å"It is not permissible to add to one’s possessions if these things can only be done at the cost of other men. Such developments only have one true name, and that is exploitation† (Paton 178). The idea the white men had to come into South Africa for gold, and use its people to work in the mines they were to build did not start out bad. When the mine owners started making money instead of giving their workers an increased pay, they keep the money for themselves. Support: Even though Arthur receives backlash for his beliefs, he expresses that the country of South Africa needs equality: â€Å"We believe in brotherhood, but we do not want it in South Africa† (Paton 187). Analysis: Arthur Jarvis is trying to make a difference because the people of South America cannot do it on their own. This white man who can have anything he wants and chose to support the Natives of a country his ancestors intruded on. His good leadership shows that he will fight for the people, even if his peers disagree. Clincher: Arthur shows good moralsShow MoreRelated The True Meaning of Cry, the Beloved Country Essay1426 Words   |  6 PagesThe True Meaning of Cry, the Beloved Country      Ã‚  Ã‚   Many debates have been sparked by Alan Patons Cry, the Beloved Country.   Even the essence of the books title examines South Africa and declares the presence of the inner conflict of its citizens. The importance and meaning of the title of Cry, the Beloved Country is visible in Patons efforts to link the reader to forthcoming ideas in the novel, Patons description of South Africas problems, and Patons prayer for the solution of SouthRead MoreThe Meaning of the Title, Cry, the Beloved Country Essay1007 Words   |  5 PagesThe 1940 set in time book, Cry, the Beloved Country’s title by Alan Paton have intrigued yet perplexed readers over the years. 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Plato s Influence On The Government Of His Time - 1204 Words

Plato is anti-political, in that he removed government from political life. Some would argue that Plato was against the government of his time. That may be true if one takes into account the fact that Plato, who supported the oligarchical Sparta, was growing up in Athens, Greece, who strongly supported a democratic government (Roberts Sutch 2004). Then one could argue that he was against the government because he supported a government (oligarchies) that went against that in which he grew up in (democracies). However, in the overarching concept of being anti-political, then Plato was not anti-political. In fact, Plato was pro-political in that he supported a form of elitism (or oligarchy). To understand how Plato thought of politics, one must understand elitism. Elitism is â€Å"the idea that a minority of human beings are in some way superior, as a group, to the majority† (Roberts Sutch 2004). Plato thought that the government should be split into two classes of people: the artisans (or businessmen) and the guardians. The guardians were then split up into two different subcategories: the auxiliaries (the army) and the guardians proper (the philosopher-kings/rulers) (Roberts Sutch 2004). Plato claimed that â€Å"political justice will be found only when philosophers become rulers or politicians become philosophers† (Roberts Sutch 2004). He believed a just state was to be ruled by the guardians proper. Plato further argues that each of these classes is based on naturalShow MoreRelatedPlatos Influence on the Western Civilization950 Words   |  4 Pages Plato and His Relation to Western Civilization Plato is one of the succinct psychologists, analyst, and scholar the world has ever had. He is a lucrative figure in the birth, generation, and early development of the western civilization. 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He was a devoted follower of Socrates, whose disciple he became in 409 B.C., and the execution of that philosopher by the democrats in 399 B.C. was a crushing blow. He left Athens, believing that until â€Å"kings were philosophersRead MoreHow Money Has Become The Enemy Of Our Society Essay1562 Words   |  7 Pagesgrowing divide is because of how the people in government utilize influential groups such as lobbyists, in order to pass legislations that benefit their interests. This way of acting occurs because of the importance of money in today s society. According to Socrates, â€Å"victory -loving and honor- loving men become lovers of making money and money-lovers, and they praise and admire the wealthy man and appoint him as ruler, and dishonor the poor one. ( Plato, 551a). Due to the fact that timocrats, who