Over the course of the year, we earned some money.

And so your profit is 100.

So this right here you could view as our income statement.

So they can see where the buisness is doing well, where it's not doing well, or maybe how rescorces should be allocated

The customer pays you 200 for your services

On the cash basis it looks like you lost money again.

Grant me justice, oh God, and defend my cause against merciless people.

Let's now account for the same series of events but instead of doing it on a cash basis

Give a better indication of what's actually going on in the buisness, and the way I did it in the first two videos, the first column over here

let's do it on an accrual basis.

So this kind of the cash income statement,

So both cash and Accounts Receivables are assets.

When did Democracy come into existence?

And you didn't have to spend any expenses because you didn't do any accounting.

Maybe as people, because especially in Israel, we're in a democracy.

And so in month 4 we earned 100, and once again, 100 went away from our cash balance, so we still have 400.

Individual freedom is the soul of democracy.

The God who gave us life, gave us liberty at the same time.

Do not forget that fascism, communism, capitalism or other isms are all monetary systems.

Before, revolutions used to have ideological names.

Because when that phone buzzes, and you start to take it out and the dopamine hits by the time you open it it's not every single time that you get the paycheck deposited, right?

There seems to be a problem with the main reactor.

Communist, Nazi, fascist ...

I would have said, That's kind of true.

A limited number of Visitors will be able to apply for visas... that will allow them to travel freely within our borders.

We can do this.

Nice college kid. Socialist.

Communism, capitalism...

Google is a company born of idealism.

With a real democracy!

The Limits of Democracy

The constitution's gone.

(Laughter)

Soviet Union was Communist and it was totalitarian. Communism and democracy are not necessarily things that go against each other.

But the Soviet Union had neither a capitalist system nor a democracy.

Why would I want to invest in this buisness that's losing 200 a month?

So what does this tell us?

She's doublechecking with payroll now.

Democracy Comes Second

Kuwaiti Democracy in Action

But, we can escape from this trap, these pincers, I think.

And what do we teach in these schools?

Is that democracy?

Aren't those just the foundations of xenophobia and authoritarianism and Puritanism?

Wages and salary are pay received at regular times.